The research report issued by Guosen Securities highlights that the degree of divergence in price fluctuations and transaction patterns within this bull market has reached unprecedented levels. The key to whether a sequential upturn across different sectors can materialize post-divergence hinges on fundamental improvements and capital inflows. Historical precedents indicate that the market experienced sequential upturns from 2012 to 2015 and again from 2019 to 2021, whereas such a phenomenon was absent between 2016 and 2018. At present, fundamental enhancements are progressively permeating through the market, accompanied by a continuous influx of incremental funds. Consequently, this bull market is anticipated to follow a trajectory of sequential upturns across diverse sectors. The likely sequence for these upturns is as follows: technology hardware, followed by AI applications, intelligent manufacturing, and innovative pharmaceuticals, and eventually extending to sectors such as real estate, premium liquor, and securities brokerage.
