According to CoinMeta, Li Qiusuo, the chief analyst for domestic strategy at CICC's research department, stated in an interview that recent external disruptions have shown signs of weakening. The profitability side still retains resilience, and if these external disruptions ease marginally, the market is expected to see a valuation recovery first. He suggested configuring a dumbbell-style portfolio that combines "technology + dividends." Li Qiusuo analyzed that in the first three quarters, the revenue and profit growth rates of A-share companies were both higher than the nominal GDP growth during the same period. Non-financial enterprises exhibited relatively stable profitability, and sectors such as AI and energy provided strong support for overall earnings. Recently, the valuations of major broad-based A-share indices have fallen significantly; the forward price-earnings ratio of the CSI 300 is close to the historical average of the past decade, while the forward price-earnings ratio of the ChiNext index is at an extreme level in history. The overall market valuation is quite attractive, and a valuation recovery is expected to occur once risks are alleviated.