Market participants: There is a significant "earnings report effect" in A-shares during the earnings disclosure period.

Jin10 data March 24 news, this morning, the micro盘 stock index fell by 4.18%, the 中证2000 index fell by 2.67%, while the 沪深300 and 上证50 indices both rose. Previously, some market participants stated that from a calendar effect perspective, there is a significant "earnings report effect" in the A-shares, meaning that during the earnings report disclosure periods (April, July, October), the impact of performance growth on stock prices is significantly higher than in other months, while late March is an important transitional period. Historically, the win rate and excess returns of the small and medium market capitalization style have both declined.