证券ETF（512880）近20日净流入超38亿元，资金持续布局，证券行业并购重组加速

Core Insights - The securities industry in China is experiencing an acceleration in mergers and acquisitions, leading to a new pattern of "top firms optimizing and strengthening" alongside "small and medium-sized firms developing unique characteristics" [1] - The current "window period" for mergers and acquisitions in the Chinese securities sector presents opportunities not only for scale expansion but also for capital enhancement, capability restructuring, and international advancement [1] Industry Overview - The Securities ETF (512880) tracks the Securities Company Index (399975), which selects listed companies involved in securities brokerage, underwriting, and proprietary trading from the Shanghai and Shenzhen markets [1] - This index reflects the overall performance of the securities industry in China and covers major securities companies in the A-share market, demonstrating high industry representativeness [1]