GF Securities' Liu Chenming: Large-cap blue-chip valuations are not high, and there is a solid foundation for the restoration of market confidence.

The A-share market has been undergoing sustained adjustment recently, with investor sentiment leaning cautious. Regarding the valuation and confidence issues that the market is concerned about, the reporter conducted an exclusive interview with Liu Chenming, Chief Strategist at GF Securities. He stated that this round of adjustment mainly stems from shocks on the sentiment and capital fronts, and that the fundamentals of listed companies have not undergone a directional reversal. The short-term pessimistic sentiment in the market has already been fairly fully played out, and against the backdrop of earnings support and the continued growth of market-stabilizing forces, there remains a solid foundation for the restoration of market confidence.