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How to get A shares in 2025? What are the opportunities? Institutions see it this way.Central china securities believes that the grasp of the operation and investment of the A-share market in 2025 should at least follow two major trends at the macro level: (1) the "Trump 2.0" policy from the outside, especially the intensity and progress of tariff increase; (2) The strength and continuous progress of domestic countercyclical control policies. In terms of industry configuration, we can focus on four main lines: (1) new productivity-related sectors such as self-control of science and technology and acceleration of domestic substitution, such as frontier technical fields such as artificial intelligence, semiconductors, new chemical materials and related equipment segmentation fields; (2) consumption and infrastructure sectors related to promoting domestic demand, such as smart driving product industrial chain, smart home, pet products, ships, construction machinery, etc.; (3) Supply optimization and demand recovery have led to an inflection point in the prosperity of the industry, such as photovoltaic and lithium batteries; (4) Theme concepts related to deepening the reform of the capital market and promoting listed companies to enhance their investment value, such as mergers and acquisitions, cash dividends and market value management, such as construction, coal, transportation, banking and other industries with concentrated net losses or low valuation characteristics.Soochow securities's 2025 A-share investment strategy outlook report recently holds that under the background of Trump's victory in accelerating the rise of trade protectionism and weak domestic economic recovery, 2025 will be a fiscal year, and incremental policies are expected to continue to increase; At the same time, the Fed's interest rate cut will benefit A shares from three dimensions: policy space, fundamentals and liquidity. Soochow securities judged that China's assets will continue to be repaired in 2025.

According to the investment strategy report of Hualong Securities, the equity market will remain in a favorable fundamental environment in 2025. The central bank will continue to adhere to the supportive monetary policy stance and maintain a reasonable and abundant liquidity. At the same time, the proactive fiscal policy will continue to exert its strength, the pressure of localized debt will be reduced, and more resources will be released to protect people's livelihood and promote the economy. The real estate market will stop falling and stabilize, and the policy of developing new quality productivity will continue to advance. The economy as a whole will remain in the boom expansion zone, and the market will have more opportunities for allocation and layout. Hualong Securities believes that the style in 2025 may be interpreted as: Technology (TMT) > Advanced Manufacturing. Hualong Securities suggested that we should pay attention to TMT, advanced manufacturing, cycle and other major styles and industries.According to the A-share strategy report for 2025 released by CDB Securities recently, the stock market is expected to play a "positive feedback" function. On the basis of continuous efforts to improve the quality of the policy side, "expected management" and "market value management" will play a more positive role in the operation of the market. It is expected that there will be room for further improvement in management in 2025, and China's capital market may maintain a certain degree of activity; Market value management of listed companies in the strategic dimension is helpful to stabilize market expectations. In the first quarter of 2025, the market may fluctuate to find the bottom, and after the disclosure of the annual report and the first quarterly report, it can be more positive and optimistic about the market. Especially in the context of downward pressure on global stock markets, China's assets are expected to be allocated by international capital.According to the strategy report of Guojin Securities, compared with previous "spring restlessness" markets, such as 2006, 2009, 2016 and 2019, there will be a high probability of "spring restlessness" in 2025. Specific reasons: (1) At present, the domestic economy tends to improve, and it is expected that the current domestic fundamental improvement cycle will last at least until the first quarter of 2025; (2) Effective market flow tends to improve; (3) Inflation has not risen significantly, the discount rate remains low, and the turning point of PPI may be in July next year, and the fastest turning point will be in September next year; (4) The valuation is reasonable or even at a low level; (5)ERP is at a stage high point, and has more room for downward convergence-as of November 20, 2024, both EPR and "stock-debt yield difference" indicate that A-share risk appetite has much room for improvement.

[Institutions are optimistic about the three major directions of 2025! 】Where are the possible opportunities?[Institutions are optimistic about the three major directions of 2025! 】