According to CoinMeta, and as reported by an early issuer of in, Meng Lei, a stock strategy analyst at UBS Securities China, pointed out that the A-share market this year is driven by earnings, with an expected overall earnings growth of about 15%. The upward trend of PPI has led to a recovery in corporate revenue, and the activity in the capital market during the second quarter has boosted financial sector revenues. Meng Lei stated that the profit margins of A-shares have improved, and the proportion of overseas revenue for mainland companies has increased, but the valuation of A-shares has been restrained. He believes that the flow of deposits from mainland residents into the stock market is not something that happens overnight; residents prefer insurance and financial products. Meng Lei also noted that the deleveraging process in the A-share market has come to an end, and the market's rebound has been relatively slow. Public funds have allocated a record amount to the technology sector. UBS is optimistic about companies going global, industrial companies, high-dividend stocks, and growth stocks, but it expects the growth rate of global technology stocks to slow down after the third quarter.