证券ETF（512880）昨日净流入超0.5亿，市场关注行业业绩回暖预期

Group 1 - The core viewpoint is that the securities industry is expected to see significant growth in performance in the first half of 2025, with 27 out of 29 listed brokerages in A-shares projected to increase profits, and 12 companies expected to see at least a 100% growth in net profit attributable to shareholders [1] - Major brokerages such as CITIC Securities and China International Capital Corporation are expected to have profit growth exceeding 60%, driven by a recovery in the market that boosts brokerage income, increased proprietary investment returns, and a rebound in investment banking business [1] - Daily average trading volume of stock-based funds has significantly increased by 125.4% year-on-year to 17,090 billion yuan, and the margin trading balance has grown by 31.71% year-on-year [1] Group 2 - The average price-to-book (PB) ratio for the securities industry is currently 1.3 times, with a favorable policy environment promoting transformation across brokerage, investment banking, and capital intermediary businesses [1] - The Securities ETF (512880) tracks the Securities Company Index (399975), which is compiled by China Securities Index Co., Ltd., reflecting the overall performance of listed companies in the securities industry [1] - Investors without stock accounts can consider the Guotai CSI All Share Securities Company ETF Connect C (012363) and Guotai CSI All Share Securities Company ETF Connect A (012362) [1]