CICC: the market already has midline value

According to the online news of the securities times, CICC looks forward to the future market and reiterates that the market has some characteristics of the bottom in terms of policy, valuation and capital sentiment, and the market already has the value of the middle line; There are still some challenges in the market environment, and more positive fundamental catalysts are needed for further growth. In particular, the month on month improvement of earnings expectations may be more important. Under the background of China's "steady growth" overweight and overseas growth downturn, we will focus on the post epidemic repair of China's fundamentals in the future, including real estate and consumer demand.