TF Securities(SH:601162) 2 1 Shi Ji Jing Ji Bao Dao·2025-10-21 02:23Core Viewpoint - The A-share market shows strong performance with active trading in the securities sector, highlighted by the significant inflow of funds into the securities ETF, indicating positive investor sentiment and potential for growth in the sector [1][2]. Group 1: Market Performance - On October 21, the three major A-share indices opened high and continued to rise, with the securities sector showing active trends [1]. - The securities ETF (159841) rose by 1.07%, with notable gains from stocks like Tianfeng Securities, which increased by over 4% [1]. - The securities ETF has seen a net inflow of over 1.2 billion yuan over the past eight trading days, reaching a total scale of 10.256 billion yuan, making it the only securities ETF in the Shenzhen market to exceed 10 billion yuan [1]. Group 2: Company Actions - Tianfeng Securities announced the cancellation of 67.787 million repurchased shares, representing 0.67% of the company's total share capital prior to the cancellation, reducing the total share capital from 10.142 billion shares to 10.074 billion shares [1][2]. - This move is seen as a recognition of the company's value, potentially enhancing earnings per share and boosting investor confidence [2]. Group 3: Industry Outlook - The current market environment places the securities sector's valuation at historical lows, suggesting that such actions may attract long-term capital and stabilize market sentiment [2]. - Huatai Securities reiterated the strategic allocation opportunities within the securities sector, citing multiple factors such as policy, funding, performance, and valuation [2]. - The capital market is undergoing profound reforms, transitioning into a new phase of joint development in investment and financing, with a low-interest-rate environment leading to increased capital flow into equity markets [2].