行业并购重组再突破，券商ETF(512000)近3天获得连续资金净流入，最新规模突破280亿元创近半年新高！

Market Performance - As of August 21, 2025, the CSI All Share Securities Company Index (399975) decreased by 0.40%, with mixed performance among constituent stocks [1] - Huaxin Securities (600621) led the gains with an increase of 2.14%, while Changcheng Securities (002939) experienced the largest decline [1] - The Broker ETF (512000) saw a cumulative increase of 4.88% over the past week as of August 20, 2025 [1] Liquidity and Trading Volume - The Broker ETF had a turnover rate of 4.31% during the trading session, with a total transaction volume of 1.224 billion yuan [1] - The average daily trading volume for the Broker ETF over the past week was 2.113 billion yuan, ranking it among the top two comparable funds [1] Fund Size and Inflows - The latest size of the Broker ETF reached 28.395 billion yuan, marking a six-month high and ranking second among comparable funds [1] - The ETF's share count reached 45.571 billion, a one-year high, making it the top fund in this category [1] - Over the past three days, the Broker ETF experienced continuous net inflows, with a peak single-day net inflow of 1.143 billion yuan, totaling 1.528 billion yuan in net inflows [1] Industry Insights - The China Securities Regulatory Commission approved the restructuring of Guorong Securities and West Securities, requiring a specific integration plan to be submitted within a year [2] - Shanxi Securities reported significant growth in brokerage and net interest income due to increased market activity, indicating a recovery in investment banking [2] - Huatai Securities noted a steady upward trend in the equity market since the beginning of the year, with improved trading volumes and a positive outlook for the sector [2] ETF Composition - The Broker ETF (512000) passively tracks the CSI All Share Securities Company Index, encompassing 49 listed brokerage stocks, with nearly 60% of its holdings concentrated in the top ten leading brokerages [4] - The ETF serves as an efficient investment tool, balancing investments in leading brokerages while also capturing the high growth potential of smaller firms [4]