证券ETF龙头紧密跟踪国证证券龙头指数，为反映沪深市场证券主题优质上市公司的市场表现，并为投 资者提供更丰富的指数化投资工具，编制国证证券龙头指数。 数据显示，截至2025年9月30日，国证证券龙头指数(399437)前十大权重股分别为东方财富(300059)、中 信证券(600030)、华泰证券(601688)、广发证券(000776)、招商证券(600999)、国泰海通(601211)、东方 证券(600958)、兴业证券(601377)、光大证券(601788)、财通证券(601108)，前十大权重股合计占比 79.09%。 截至2025年10月14日 10:47，国证证券龙头指数(399437)强势上涨1.36%，成分股广发证券(000776)上涨 3.57%，东方证券(600958)上涨2.28%，国金证券(600109)上涨2.16%，华泰证券(601688)，国泰海通 (601211)等个股跟涨。证券ETF龙头(159993)上涨1.26%，最新价报1.37元。 消息面上，据上交所数据，9月A股新开户数293.72万户，同比增长60.73%，环比增长10.83%，为今年 以来单月第二高，仅次于今 ...

注：相对收益与沪深 300 相比 分析师：张智珑 证书编号：S0500521120002 Tel：(8621) 50295363 Email：zzl6599@xcsc.com 地址：上海市浦东新区银城路88号 中国人寿金融中心10楼 证券研究报告 2025 年 10 月 12 日 湘财证券研究所 行业研究 证券行业周报 市场交投活跃增强业绩修复预期 相关研究： 1.《行业周报：市场成交额小幅回 落，公募销售费用新规落地》 2025.9.7 行业评级：增持（维持） 近十二个月行业表现 % 1 个月 3 个月 12 个月 相对收益 -2 -8 -11 绝对收益 2 7 6 -20% -10% 0% 10% 20% 30% 2024/10/10 2024/12/10 2025/2/10 2025/4/10 2025/6/10 2025/8/10 2025/10/10 沪深300 证券Ⅱ(申万) 核心要点： ❑ 市场回顾：节后第一周券商板块表现活跃 根据 Wind 数据，上周（10.6-10.10）上证指数上涨 0.4%，沪深 300 指数下 跌 0.5%，创业板指下跌 3.9%。申万非银金融指数上涨 0.5%，涨跌 ...

Group 1 - The core viewpoint of the news indicates a positive trend in the capital market, with various indices showing gains, particularly the CSI All Share Securities Company Index rising by 1.9% and the CSI 300 Non-Bank Financial Index increasing by 1.4% [1] - The Hong Kong Securities ETF has seen significant inflows, accumulating nearly 2.5 billion yuan over the past five trading days, bringing its total size to 29.1 billion yuan [1] - Minsheng Securities suggests that the active trading environment and the continuous expansion of margin financing balances will likely support the recovery trend in brokerage firms' performance [1] Group 2 - Recent revisions to the classification evaluation indicators for securities companies are expected to enhance the industry's competitiveness, benefiting leading brokerages and smaller firms with distinctive equity business [1]

Group 1 - The core viewpoint of the articles highlights that 10 listed securities firms reported double-digit growth in net profits for Q1 2025, with some firms like Guotai Junan, Dongwu Securities, and Huazheng Securities experiencing over 100% year-on-year growth [1][2] - The significant growth in net profits is attributed to the increase in wealth management and proprietary trading businesses [1][2] - Guotai Junan is expected to achieve a net profit of between 112.01 billion yuan and 124.45 billion yuan for Q1 2025, representing a year-on-year increase of 350% to 400% [1] Group 2 - The number of new A-share accounts opened in Q1 2025 reached 7.47 million, marking a year-on-year growth of 31.7% [2] - The trading activity in the market remained high, contributing to a recovery in investment banking revenues, with firms reporting significant increases in wealth management, trading investments, and investment banking revenues [2] - Minsheng Securities anticipates that the positive trend in the performance of securities firms will continue into 2025 [2]