Group 1 - The core viewpoint is that the China Securities Regulatory Commission (CSRC) has released a consultation draft for the pilot program of commercial real estate REITs, aiming to promote high-quality development of the REITs market and support a new model for real estate development [1] - The brokerage sector is expected to see an increase in allocation value, with the current industry average price-to-book (PB) ratio at 1.2 times, benefiting from market recovery and a favorable policy environment, which is likely to improve businesses such as brokerage, investment banking, and capital intermediation [1] - The overall valuation of non-bank financials is low, providing a safety margin, and the transformation of the securities industry is expected to bring new growth points for business [1] Group 2 - The Securities ETF (512880) tracks the Securities Company Index (399975), which selects representative stocks from listed securities companies in the A-share market to reflect the overall performance of the securities industry [1] - The index primarily consists of large and medium-sized brokerages, combining both growth and value style characteristics, and comprehensively showcases the market trends of the securities sector [1]
证券ETF（512880）昨日资金净流入超1.2亿元，券商板块配置价值有望提升
Sou Hu Cai Jing·2025-12-03 03:03