CITIC Construction Investment: still in the second phase of the bull run "tug of war", can be viewed as a period of volatility in the bull market

Golden Ten Data News on October 21st, CITIC Securities Research Report said that the mid-term logic of “revaluation bull” is still there, and the policy clues are still being verified. Short-term economic and policy expectations have been repaired, and the market has gradually stabilized after a rapid pullback, and the sentiment has improved. It is believed that the mid-term logic of “revaluation bull” is still there. It is still in the second stage of the Bull Market’s “tug of war”, which can be viewed as a period of oscillation in the Bull Market. It is believed that investors need to maintain strategic patience, and the establishment of expectations for the recovery of fundamentals still requires more conditions and time. In the tug of war, rise without impatience, and fall without despair, follow the three clues of prosperity, revaluation, and scientific and technological innovation, and lay out at lows. In addition, layout around the clues of this round of “revaluation bull”, optimistic about the management of market value and value revaluation of central state-owned enterprises, and track the progress of new productive forces in the mid-term of the scientific and technological innovation industry.