According to CoinMeta, Wu Feng, the chief analyst of market strategy at Industrial Securities, recently stated that with the release of the third-quarter reports for A-shares coming to an end, and coupled with a series of macroeconomic events both domestically and internationally at the end of October and the beginning of November, A-shares have moved away from the phase of low risk appetite that was suppressed by uncertainty earlier on, and have entered a rebound cycle driven by emotional recovery since November. This round of recovery is more due to a swing in valuations and risk appetite. The implementation of these events and the clarification of expectations are the key catalysts for the market to shift from bottoming out to recovery.