[Zheshang Securities Chief Global Strategy Research Officer Liao Jingchi: Neutral optimism at the index level in 2027 and the market style is expected to be more balanced] On November 13, at the 2027 Capital Market Summit held by Zheshang Securities, Zheshang Securities Chief Global Strategy Research Officer Liao Jingchi released the 2027 strategic outlook. Liao Jingchi believes that A-shares have entered the "long bull relay" stage. Institutional dividends, industrial transformation and medium- and long-term capital expansion have laid a solid foundation for the market's long-term improvement. The index level in 2027 will be neutral and optimistic, and the market style is expected to be more balanced. It is recommended to pay attention to low valuation directions such as dividends and finance, as well as new industrial trends such as physical artificial intelligence and artificial intelligence pharmaceuticals. (Reporter Lin Jian)