Western Securities(SZ:002673) 2 1 Shi Ji Jing Ji Bao Dao·2025-08-22 06:21Group 1 - The core viewpoint of the articles highlights the active performance of the securities sector, particularly the Securities ETF (159841), which has seen significant trading volume and net inflows recently [1][2] - As of August 21, the Securities ETF (159841) has a total scale of 6.2 billion yuan, making it the largest ETF in the Shenzhen and Shanghai markets for this category [1] - The Securities ETF (159841) closely tracks the CSI All Share Securities Companies Index, which includes both traditional securities leaders and financial technology leaders [2] Group 2 - In the past three trading days (August 19-21), the Securities ETF (159841) has attracted a net inflow of 320 million yuan [2] - The People's Bank of China reported that as of the end of July, the broad money supply (M2) was 329.94 trillion yuan, reflecting a year-on-year growth of 8.8%, up from 8.3% at the end of June [2] - The China Securities Regulatory Commission approved Western Securities to become the major shareholder of Guorong Securities, acquiring 1,151,433,439 shares, which accounts for 64.6% of the total shares [2] Group 3 - Ping An Securities forecasts that the securities industry will benefit from improved market conditions and sustained high trading activity by 2025, indicating potential growth in both valuation and performance [3] - Galaxy Securities notes that the government's policies aimed at stabilizing growth and boosting the capital market will continue to influence the sector's future trajectory, with expectations for improved liquidity and investor confidence [3] - As of August 15, 2025, the PB valuation of the securities sector stands at 1.53x, which is in the 32.5% percentile since 2010, suggesting a safety margin for investments in this sector [3]