国信证券发布国联民生研报，整合初见成效

Group 1 - The core viewpoint of the report is that Guolian Minsheng (601456.SH) is rated as outperforming the market due to its expanding proprietary scale and the construction of equity accounts [1] - The brokerage business shows significant regional complementarity, and the fund advisory business continues to grow [1] - The scale of equity financing has decreased, indicating a more cautious approach in capital markets [1]