In the early stages of a bull market, there's no need to worry too much about hitting a peak; this is the time to focus on finding potential stocks.

Current retail participation: equivalent to 31% in 2015 and 35% in the 924 market; net inflow from retail investors: equivalent to 27% in 2015 and 30% in the 924 market.

From various indicators, the current heat of the A-shares is not very high. In recent months, the groups entering the market are still mainly composed of those born in the 80s and 90s, while those born in the 00s are relatively few.

Logically speaking, the 'Z generation' are digital natives, and they are more sensitive to trending events, but according to the survey results, it is clear that the atmosphere of making money in the stock market has not yet influenced young people.

So there is nothing to worry about right now; when the 'Z generation' enters the market, we can talk about when the bull market will peak. $Hengrui Medicine (SH600276)$