2.1 valuation level of key primary industries
From the perspective of PE (TTM), PE in medicine, biology, non-ferrous metals, electronics and other industries is currently in a historically low quantile, while PE in food, beverage, automobile and other industries is in a historically high quantile.
From the perspective of Pb (LF), banking, non bank finance, media and other industries are currently in a historically low quantile of Pb, while coal, food and beverage and other Pb are in a historically high quantile.
Risk tips
Repeated outbreaks at home and abroad
Corporate profits are less than expected
Overseas Black Swan incident (political risk, sovereign rating downgrade, etc.)
Policy supervision
