非银行业周报（2024年第三十期）：券商行业并购重组再添新例

Investment Rating - The industry investment rating is "Increase" [5][43]. Core Insights - The securities sector experienced a decline of 2.21% this week, underperforming the CSI 300 index by 1.65 percentage points, with the current PB valuation at 1.01 times, which is at a historical low [2][5]. - The insurance sector saw an increase of 3.97%, outperforming the CSI 300 index by 4.52 percentage points [5]. - The report highlights ongoing mergers and acquisitions in the brokerage industry, with regulatory support for industry consolidation, which is expected to enhance overall competitiveness and resource allocation [2][5]. Summary by Sections Securities Weekly Data Tracking - The average daily trading volume of A-shares was 542.4 billion yuan, with a week-on-week increase of 2.45% [12]. - The margin trading balance was 1,397.446 billion yuan, with a week-on-week decrease of 109.75 billion yuan [23]. - The total assets of Wanhe Securities were reported at 13.162 billion yuan, with a net profit of 58.7494 million yuan for 2023, while Guosen Securities reported total assets of 462.96 billion yuan and a net profit of 6.427 billion yuan [2]. Insurance Weekly Data Tracking - As of June 30, 2024, the total assets of the insurance industry reached 33.8 trillion yuan, a year-on-year increase of 15.74% [29]. - The original insurance premium income for the industry in June 2024 was 35,467.39 billion yuan, reflecting a year-on-year growth of 10.65% [31]. - China Ping An reported a net profit of 746.19 billion yuan for the first half of 2024, a year-on-year increase of 6.8% [5][42]. Industry Dynamics - The report notes that the China Securities Regulatory Commission approved the registration of options for lead, nickel, tin, and alumina on the Shanghai Futures Exchange [34]. - Regulatory updates include the establishment of a pricing mechanism for life insurance products and guidelines for internet insurance business [40][41].