A股两融余额首次突破2.4万亿元，“旗手”低位躁动，顶流券商ETF（512000）连续15日吸金超51亿元！

Group 1 - The brokerage sector experienced a decline, with major stocks like Changcheng Securities dropping over 5% and others like Shouchuang Securities and Pacific Securities falling more than 4% [1] - The ETF for top brokerages (512000) saw a price drop of 1.32%, with a trading volume exceeding 5 billion CNY within the first half hour of trading [1] - The overall trading environment remains active, with the brokerage ETF recording a net inflow of 5.191 billion CNY over the past 15 trading days [5] Group 2 - The number of active users on securities apps reached 173 million in August 2025, marking a year-on-year increase of 27.26% and a month-on-month increase of 4% [3] - The total securities transaction stamp duty from January to August 2025 was 118.7 billion CNY, reflecting an 81.7% year-on-year growth, with August alone contributing 7.7 billion CNY, a 226% increase year-on-year [3] - The margin financing balance across the Shanghai, Shenzhen, and Beijing markets surpassed 2.4 trillion CNY, reaching 2.4054 trillion CNY as of September 17 [4] Group 3 - Guojin Securities noted significant improvement in the brokerage sector's performance in the first half of the year, highlighting a mismatch between high profitability and low valuations [5] - The brokerage ETF (512000) has a current scale exceeding 34 billion CNY, achieving a historical high with an average daily trading volume of 9.57 billion CNY this year [7] - The ETF tracks the CSI All Share Securities Company Index, encompassing 49 listed brokerage stocks, with nearly 60% of its holdings concentrated in the top ten brokerages [7]