The ChiNext ETF Tianhong (159977) saw its underlying index drop over 3.5% during trading, with valuations lower than 56% of the time in the past decade, gradually revealing its cost-effectiveness for medium to long-term allocation

The ChiNext ETF Tianhong (159977) saw its underlying index drop over 3.5% during the session, with a current price-to-earnings ratio of 41.18 times, indicating a valuation below 56% of the time over the past decade, showing a certain margin of safety. Although it may be affected by technical adjustments in the short term, the cost-effectiveness of medium to long-term allocations is gradually becoming apparent. The China Securities Regulatory Commission will launch a plan to deepen the reform of the ChiNext, supporting the development of new industries. Tesla plans to purchase Chinese photovoltaic equipment, and the industry outlook is optimistic. Zheshang Securities believes this is a good opportunity to buy on dips