Tianfeng Securities released a research report saying that the current gold-to-silver ratio has reached an all-time high of around 90, and the price of silver may be seriously undervalued. Historically, there have only been a few cases where the ratio of gold to silver exceeds 90, usually related to a specific geopolitical situation or economic environment. From a historical perspective, the average gold to silver ratio is between 40:1-50:1. With the gradual recovery of economic activity and changes in market sentiment, the gold to silver ratio is expected to be adjusted, which indicates potential room for future increases in silver prices. Recommended attention: Shengda Resources (000603.SZ), Societe Generale Silver Tin (000426.SZ), Yintai Gold (000975.SZ).