券商业绩改善趋势与估值表现持续背离，顶流券商ETF（512000）单日再揽1.76亿元，领跑同类！

Core Viewpoint - The brokerage sector is experiencing active trading, with significant inflows into the brokerage ETF, indicating potential investment opportunities despite current market volatility [1][3]. Group 1: Market Performance - On November 28, the brokerage sector saw a lively performance, with the top brokerage ETF (512000) rising by 0.18% [1]. - Individual stocks such as Xiangcai Co. and Industrial Securities increased by over 1% [1]. - The brokerage ETF (512000) recorded a net inflow of 1.76 billion CNY in a single day, leading among 14 similar ETFs [3]. Group 2: Profit Forecasts - According to institutional predictions, the brokerage sector is expected to maintain high-speed profit growth, with a projected net profit increase of 51% year-on-year for 2025 [3]. - The return on equity (ROE) is anticipated to rebound to 8.8% [3]. - The current valuation of the brokerage sector, with a price-to-book (PB) ratio of 1.45, is at the 35th percentile of the past decade, suggesting ample room for valuation adjustments [3]. Group 3: Investment Tools - The brokerage ETF (512000) and its linked funds are designed to track the CSI All Share Securities Index, encompassing 49 listed brokerage stocks, making it an efficient investment tool for both large and small brokerages [5]. - The fund size of the brokerage ETF surpassed 40 billion CNY for the first time on November 6, with an average daily trading volume exceeding 1 billion CNY [5].