1.1 the valuation quantile of each sector continued to decline slightly
As of March 25, 2022, all A-share PE (TTM) is 17.31 times, which is in the quantile of 39.59% since 2009; PBLF1. 66 times, in the quantile of 24.45% since 2009.
As of March 25, 2022, the PE (TTM) of the main board / gem / science and innovation board were 12.99 times, 68.17 times and 56.25 times respectively, which was in the quantile of 25.69%, 53.49% and 6.15% since 2009; Pblf is 1.28 times, 4.79 times and 5.28 times respectively, which is in the quantile of 3.64%, 53.88% and 3.08% since 2009.
1.2 the valuation of CSI 500 is still at a historically low level
As of March 25, 2022, among the major indexes, SSE 50, CSI 300, CSI 500 and gem PE (TTM) were 10.16 times, 12.15 times, 17.29 times and 51.36 times respectively, which were in the historical quantile of 44.53%, 39.81%, 1.34% and 44.23% respectively; Pblf was 1.29 times, 1.47 times, 1.72 times and 6.34 times respectively, which was located in the historical quantile of 41.42%, 27.52%, 3.18% and 71.63%.
1.3 gem index / CSI 300 decreased relative to PE
As of March 25, 2022, compared with the CSI 300 index, the gem index is 4.23 times higher than the PE (TTM), which is in the historical 51.85% quantile and 4.33 times higher than the pblf, which is in the historical 66.20% quantile.
