非银金融行业：金融组合拳发力稳增长，行业估值业绩双升

Investment Rating - The industry investment rating is "Buy" [1] Core Viewpoints - Financial support for high-quality economic development has boosted market sentiment and confidence. The recent press conference by key financial leaders emphasized the role of finance in supporting the economy [1] - Incremental funding support is expected to stabilize the secondary market, with new monetary policy tools introduced by the central bank to support stock market stability [1] - The report suggests that the implementation of policies aimed at promoting mergers and acquisitions will revitalize the primary market [1] Summary by Relevant Sections Financial Support and Market Confidence - The central bank has created new monetary policy tools to support the stability of the stock market, including a swap facility for securities, funds, and insurance companies with an initial scale of 500 billion yuan [1] - A special re-lending program for stock repurchases has been established, with an initial amount of 300 billion yuan at an interest rate of 2.25%, aimed at encouraging companies to focus on market value and investor returns [1] - The report highlights the importance of long-term funds such as insurance and pension funds in equity investments, with regulatory support for public funds [1] Mergers and Acquisitions - The report indicates that the regulatory body will actively encourage listed companies to enhance industrial integration and improve the efficiency of the restructuring market [1] - Measures to support mergers and acquisitions will be implemented, including the expansion of pilot programs for bank-affiliated financial asset investment companies [1] Investment Recommendations - The report recommends continuous attention to policy and event catalysts, particularly in the context of mergers and acquisitions, with specific stocks highlighted for potential investment, including China Galaxy, CICC, Huatai Securities, and CITIC Securities [1][2]