“牛市旗手”午后上攻，证券ETF（512880）涨超4%，规模超540亿元

Group 1 - The core viewpoint is that the securities ETF (512880) has shown strong performance, with a net inflow exceeding 18 billion yuan over four consecutive days, indicating robust investor interest and confidence in the sector [1][3][7] - The central bank's recent meetings emphasized the implementation of a moderately loose monetary policy, which is expected to enhance financial institutions' credit supply and support the securities and capital markets [3][4] - The projected growth for 44 listed securities firms' net profit, excluding non-recurring items, is expected to rise by 52.9% year-on-year in the first half of 2025, driven by increased market activity and the recovery of equity financing functions [3][4] Group 2 - The securities ETF (512880) has attracted over 125 billion yuan in net inflows recently, with its current scale exceeding 540 billion yuan, making it the largest among its peers [4][6][7] - The securities sector is characterized by strong beta attributes, meaning its performance is closely tied to the overall capital market performance, which has historically led to the sector outperforming the broader market during rebounds [4][6] - The outlook for the securities industry remains positive, with expectations of continued performance improvement in investment banking, derivatives, and public fund businesses, alongside a rise in return on equity (ROE) for leading firms [3][7]