1.1 the quantile of valuation of each sector decreased slightly
As of March 4, 2022, the total A-share PE (TTM) is 18.53 times, which is in the quantile of 48.33% since 2009; PBLF1. 78 times, in the quantile of 33.31% since 2009.
As of March 4, 2022, the PE (TTM) of the main board / gem / sci-tech innovation board were 13.88 times, 75.13 times and 60.40 times respectively, ranking in the quantile of 35.65%, 65.12% and 11.64% since 2009; Pblf is 1.38 times, 5.10 times and 5.70 times respectively, which is in the quantile of 14.47%, 58.95% and 12.11% since 2009.
1.2 the valuation of CSI 500 is still at a relatively low level in history
As of March 4, 2022, among the main indexes, Shanghai Stock Exchange 50, Shanghai and Shenzhen 300, Shenzhen Stock Exchange 100 and gem PE (TTM) were 10.83 times, 13.04 times, 26.79 times and 54.86 times respectively, which were in the historical quantile of 57.71%, 51.33%, 77.04% and 54.64% respectively, and pblf were 1.38 times, 1.58 times, 3.89 times and 6.78 times respectively, which were in the historical quantile of 52.02%, 44.43%, 82.32% and 76.41%.
1.3 gem index / CSI 300 rose relative to PE
As of March 4, 2022, compared with the CSI 300 index, the gem index is 4.21 times relative to PE (TTM), which is in the historical 50.93% quantile and 4.30 times relative to pblf, which is in the historical 65.35% quantile.
