Recently, market shocks have intensified, and the technology sector has ushered in phased adjustments. Some investors have doubts about the long-term trend of the market. Faced with market fluctuations, the Securities Regulatory Commission held multiple symposiums for two consecutive days to send a signal of stable expectations in a timely manner. On July 20, we mainly listened to opinions and suggestions from investors; on July 21, we listened separately to opinions and suggestions from listed companies, industry organizations, experts and scholars. Looking back at the key adjustment points of A-shares, the supervisory authorities organized symposiums as important measures to stabilize market expectations and mitigate market risks. The many symposiums over the past two days also unleashed the firm determination of the supervisory authorities to stabilize the market. As for the reason for this round of market correction, the market generally believes that it is mainly due to structural adjustments caused by external sentiment, rather than a reversal of economic fundamentals or industrial trends, and that the medium- to long-term positive pattern of A-shares is still supported. Looking at the policy environment, China's economy is currently showing an overall stable and positive development trend. Since the release of the new “Nine Rules of the State”, the overall ecology of the capital market has undergone profound changes, the effects of comprehensive investment and financing reforms have continued to be released, the quality and investment value of listed companies have been effectively improved, and there is a solid foundation for maintaining the steady operation of the market. Looking at capital trends, various business entities are bucking the trend with “real money” to step up their layout efforts, play a “combo punch” to stabilize the market, and various parties are collaborating to stabilize the market, conveying firm confidence in the development prospects of the capital market through practical actions. The recent intensive buybacks and increases in holdings will better protect the company's value and the interests of all shareholders. Compared to short-term market fluctuations, the actual operating performance of listed companies is an important standard for measuring value, and it is also one of the answers to market doubts. Looking at profit data, as of July 19, of the 900 companies that have disclosed performance forecasts in Shenzhen, based on the average value of the upper and lower limits of pre-disclosed net profit, the total net profit was about 23,736 billion yuan, an increase of 147% over the previous year.

Recently, market shocks have intensified, and the technology sector has ushered in phased adjustments. Some investors have doubts about the long-term trend of the market. Faced with market fluctuations, the Securities Regulatory Commission held multiple symposiums for two consecutive days to send a signal of stable expectations in a timely manner. On July 20, we mainly listened to opinions and suggestions from investors; on July 21, we listened separately to opinions and suggestions from listed companies, industry organizations, experts and scholars. Looking back at the key adjustment points of A-shares, the supervisory authorities organized symposiums as important measures to stabilize market expectations and mitigate market risks. The many symposiums over the past two days also unleashed the firm determination of the supervisory authorities to stabilize the market. As for the reason for this round of market correction, the market generally believes that it is mainly due to structural adjustments caused by external sentiment, rather than a reversal of economic fundamentals or industrial trends, and that the medium- to long-term positive pattern of A-shares is still supported. Looking at the policy environment, China's economy is currently showing an overall stable and positive development trend. Since the release of the new “Nine Rules of the State”, the overall ecology of the capital market has undergone profound changes, the effects of comprehensive investment and financing reforms have continued to be released, the quality and investment value of listed companies have been effectively improved, and there is a solid foundation for maintaining the steady operation of the market. Looking at capital trends, various business entities are bucking the trend with “real money” to step up their layout efforts, play a “combo punch” to stabilize the market, and various parties are collaborating to stabilize the market, conveying firm confidence in the development prospects of the capital market through practical actions. The recent intensive buybacks and increases in holdings will better protect the company's value and the interests of all shareholders. Compared to short-term market fluctuations, the actual operating performance of listed companies is an important standard for measuring value, and it is also one of the answers to market doubts. Looking at profit data, as of July 19, of the 900 companies that have disclosed performance forecasts in Shenzhen, based on the average value of the upper and lower limits of pre-disclosed net profit, the total net profit was about 23,736 billion yuan, an increase of 147% over the previous year.