股指期货周报：从历史看中国特色估值体系的内涵

A A IHIH 16 IH11 IHIH2600 26002700 1请务必阅读正文之后的免责条款部分 2022 A 2005 A 2017 PE PE 2016-20172016-2017 1.1 50 1000 1.1 50 1000 2016-2018 106.00 96.00 86.00 76.00 66.00 56.00 46.00 36.00 26.00 16.00 6.00 上证50中证1000（右） Wind 1.2 1.2 50 1000 上证50估值中证1000估值上证50净利润增速中证1000净利润增速 120.00 100.00 80.00 60.00 40.00 20.00 -(20.00) (40.00) (60.00) Wind / ROE ROE ROE 50 ROA ROE 𝑅𝑂�=𝑅𝑂�× 50300ROE 1.3 ROE 上证50沪深300中证500中证1000 20.00 18.00 16.00 14.00 12.00 10.00 8.00 6.00 4.00 2.00 - Wind 1.4 ROA 上证50沪深300中证500中证1000 4.50 4.00 3.50 3.00 2.50 2.00 1.50 1.00 0.50 - Wind / ROA ROE/ 1.4 50 1.5PE ROAROA1000 / 1.5 PE 上证50沪深300中证500中证1000 120.00 100.00 80.00 60.00 40.00 20.00 - Wind ROA50 ROA3.28% 50 200550 -20201.3% 2014-20209.9 2005-2010 1.8%2014 21 A 2020-09-29 A IH 2700 11 3.1 FOMC 10 4.6000 4.1000 3.6000 3.1000 2.6000 2.1000 1.6000 1.1000 0.6000 ifind 2020-10-29 2020-11-29 2600 2020-12-29 2021-01-29 2021-02-28 2021-03-31 2021-04-30 FED 2021-05-31 2021-06-30 2021-07-31 2021-08-31 2021-09-30 2021-10-31 2021-11-30 IH 2021-12-31 2022-01-31 2022-02-28 2022-03-31 IH 2022-04-30 2022-05-31 IH 2600 2022-06-30 股指期货周报 2022-07-31 IH 2022-08-31 2022-09-30 16 11 2022-10-31 11 226 10 3.2 5,000.00 4,500.00 4,000.00 3,500.00 3,000.00 2,500.00 2,000.00 1,500.00 1,000.00 500.00 0.00 ifind IPO 3.3 IPO 1,200.00 1,000.00 800.00 600.00 400.00 200.00 0.00 ifind 股指期货周报 603093