According to CoinMeta, Guan Tao, the chief economist of Huafu Securities, stated that due to the escalation of geopolitical conflicts and increasing divergences in the performance of overseas tech stocks, the domestic capital market has seen intensified adjustments recently, reflecting fluctuations in market sentiment. He pointed out that the allocation value of Chinese assets has become even more prominent, and there is a certain misalignment between the trend of the capital market and this reality. The fundamental premise of a long-term positive economic outlook remains unchanged, as does the certainty of policies being strengthened and made more effective. Innovative momentum is gradually being unleashed, and the market's valuation advantages await exploration. Driven by both market demand and policy guidance, the trend of China's economy moving towards improvement and structural upgrading is clear. Investors should view market fluctuations rationally, focus on the main line of performance recovery, and maintain a cautiously optimistic attitude towards the medium to long-term market trend. At the same time, deepening the comprehensive reform of capital market investment and financing is a "two-way effort." It is necessary to continuously improve the institutional environment for long-term and value-oriented investing, as well as for investors to strengthen their investment philosophies of long-term, value-based, and rational investing. The current period is a "test of fire" for these investment philosophies and represents another major challenge for China's capital market to move away from the habit of chasing rises and selling falls and to become more mature.