Zheng Quan Ri Bao Zhi Sheng·2025-11-12 16:43Group 1 - Major brokerages are holding strategy meetings for 2026, focusing on global market opportunities, service paths for the real economy, and industry transformation directions [1] - The capital market is expected to experience new opportunities in 2026, driven by the restructuring of global industrial and financial landscapes, as well as domestic technological breakthroughs and institutional improvements [2][3] - The consensus among leading brokerages is to transition from a scale expansion model to a high-quality development model, emphasizing service to the real economy and technological empowerment [3][4] Group 2 - CITIC Securities emphasizes the importance of technological trends and institutional environments in creating new opportunities for the capital market [2] - Guotai Junan highlights the potential for a broad revaluation of Chinese assets due to the new round of capital market reforms focusing on institutional inclusivity and competitiveness [2] - Dongwu Securities stresses the long-term positive fundamentals of the Chinese economy and the historical asset allocation opportunities arising from the financial power strategy [2][5] Group 3 - CITIC Jiantou is advancing a three-dimensional development strategy, aiming to become a "value investment bank," a "new quality investment bank," and a "digital investment bank" [3] - Guotai Junan showcases its transformation success by enhancing research capabilities and providing comprehensive financial services for institutional investors [4] - Kaisheng Securities is positioning itself as a leading boutique brokerage, focusing on serving small and medium enterprises and developing a comprehensive financial service system [4]