Industrial Securities(SH:601377) Zhong Guo Ji Jin Bao·2025-08-19 14:42Group 1 - The current market heat is significantly lower than the "9 24" market conditions from last year, despite a recent increase in investor activity and new account openings [1][6][7] - New account openings in July increased by nearly 400% compared to June, with a notable rise in younger investors participating in the market [2][4] - There is a growing interest in ETFs among both new and existing investors, as many find it challenging to select individual stocks [5][6] Group 2 - While there is an increase in inquiries and account openings, the current levels are still far below the peak seen during the "9 24" period, indicating a more cautious investor sentiment [6][7] - Many investors are increasing their margin trading activities, but the overall proportion remains low compared to previous market conditions [7] - The market is experiencing a structural divergence, with some investors still holding back due to uncertainty, despite some signs of capital moving from banks to the stock market [6][7]