1.1 the quantile of valuation of each sector increased slightly
As of December 3, 2021, the total A-share PE (TTM) was 19.87 times, in the 61.05% quantile since 2009; pblf was 1.90 times, in the 46.03% quantile since 2009.
As of December 3, 2021, the PE (TTM) of the main board / gem / sci-tech innovation board were 14.40 times, 90.42 times and 63.11 times respectively, which were in the quantile of 41.83%, 78.56% and 19.24% since 2009; the pblf were 1.42 times, 5.96 times and 6.58 times respectively, which were in the quantile of 20.95%, 80.66% and 37.44% since 2009.
1.2 the valuation of CSI 500 is still at a relatively low level in history
As of December 3, 2021, among the major indexes, Shanghai Stock Exchange 50, Shanghai and Shenzhen 300, Shenzhen Stock Exchange 100 and gem PE (TTM) were 10.92 times, 13.16 times, 31.06 times and 65.50 times, respectively, in the historical quantiles of 60.67%, 54.46%, 87.94% and 84.39%, and pblf was 1.33 times, 1.58 times, 4.31 times and 8.28 times, respectively, in the historical quantiles of 46.54%, 45.90%, 92.75% and 89.71%.
1.3 gem index / CSI 300 decreased slightly relative to PE
As of December 3, 2021, the gem index was 4.98 times relative to PE (TTM) relative to the CSI 300 index, in the historical 74.81% quantile, and 5.23 times relative to pblf, in the historical 95.07% quantile.
