Core Viewpoint - The A-share market is experiencing a positive trend with all three major indices rising, driven by active trading and strong performance from brokerage firms in the third quarter [1] Group 1: Market Performance - As of October 27, 2025, the Shanghai Composite Index rose by 1.03%, the Shenzhen Component Index increased by 1.06%, and the ChiNext Index gained 1.13% [1] - The brokerage ETF fund (515010.SH) saw an increase of 1.53%, with a latest price of 1.458 yuan and a trading volume of 0.77 billion yuan, resulting in a turnover rate of 3.87% [1] Group 2: Brokerage Firms' Performance - Dongwu Securities announced a pre-increase in net profit for the first three quarters, surpassing the total net profit of the previous year [1] - The brokerage sector is expected to maintain a high level of prosperity due to factors such as increased trading activity, expanded margin financing balances, and a significant rise in new account openings [1] Group 3: Valuation Metrics - The brokerage ETF fund (515010) outperformed the overall market, with the Wind All A index rising by 0.96% [1] - The brokerage ETF fund reached a peak price of 1.465 yuan during trading, marking a new high in the past 10 days [1] - The latest price-to-earnings ratio (PE-TTM) for the securities companies tracked by the ETF is only 19.88 times [1]