证券ETF龙头(159993)政策信号释放叠加行业集中度提升，早盘涨0.46%

Group 1 - Ant Group's chairman Han Xinyi clarified that the company will not issue virtual currency but emphasized that token economy needs to be rooted in the real economy [1] - As of September 22, 2023, the leading securities ETF (159993.SZ) rose by 0.46%, while its related index (399437.SZ) increased by 0.65% [1] - Among major constituent stocks, CITIC Securities rose by 1.52%, China Galaxy by 1.26%, East Money by 1.13%, and Huatai Securities by 0.82% [1] Group 2 - Galaxy Securities noted that industry profits are concentrating among leading brokerages, with the net profit CR5 reaching 45.88% in H1 2025, an increase of 6.81 percentage points year-on-year [1] - Leading brokerages are expanding competitive advantages through diversified operations and establishing barriers in derivatives and cross-border businesses [1] - According to招商证券, the self-operated income of the securities industry is expected to grow by 50% year-on-year in H1 2025, with self-operated yield increasing by 1.6 percentage points to 5.04% [1] - Leading firms like CITIC Securities and CICC are maintaining a competitive edge in international business, reflecting a trend of increasing industry concentration and improved profitability [1]