注：如提及个股仅供参考，不代表投资建议。指数/基金短期涨跌幅及历史表现仅供分析参考，不 预示未来表现。市场观点随市场环境变化而变动，不构成任何投资建议或承诺。文中提及指数仅供参 考，不构成任何投资建议，也不构成对基金业绩的预测和保证。如需购买相关基金产品，请选择与风险 等级相匹配的产品。基金有风险，投资需谨慎。 每日经济新闻 （责任编辑：张晓波 ） 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱： news_center@staff.hexun.com 国泰海通指出，非银金融行业受益于资本市场改革进度加快，在无风险利率延续下行趋势、长期资 金入市制度不断完善、股市成交额延续活跃水平的背景下，券商和保险中报业绩延续高增。从业绩预告 来看，非银金融行业预喜率达83%，增速与预喜率均居前。证券Ⅱ行业作为非银金融的重要子板块，同 样受益于资本市场改善，叠加低基数效应，业绩增长显著。当前市场环境下，非银金融板块的景气度保 持强势，未来随着货币政策进一步宽松及长期资金入市政 ...

东吴证券指出，证券行业7月交易量同比大幅提升，截至7月11日日均股基交易额达16688亿元，同比上 涨120%，两融余额同比增长27.9%。中证协发布《关于加强自律管理推动证券业高质量发展的实施意 见》，提出完善自律管理体系、加强保荐承销业务管理、引导服务功能发挥及强化合规风控等28条措 施，旨在推进行业高质量发展。 证券ETF跟踪的是证券公司指数，该指数由中证指数有限公司编制，从沪深市场中选取业务与证券公司 相关的上市公司证券作为指数样本，覆盖证券行业的龙头企业，以反映证券行业相关上市公司证券的整 体表现。在风格配置上，该指数主要偏向于大盘价值型股票。 没有股票账户的投资者可关注国泰中证 全指证券公司ETF联接A（012362），国泰中证全指证券公司ETF联接C（012363）。 注：如提及个股仅供参考，不代表投资建议。指数/基金短期涨跌幅及历史表现仅供分析参考，不预示 未来表现。市场观点随市场环境变化而变动，不构成任何投资建议或承诺。文中提及指数仅供参考，不 构成任何投资建议，也不构成对基金业绩的预测和保证。如需购买相关基金产品，请选择与风险等级相 匹配的产品。基金有风险，投资需谨慎。 每日经济新闻 深交 ...

近期，资金持续布局证券板块，证券ETF（512880）近5日净流入超4亿。 东吴证券指出，证券行业6月交易量同比大幅提升，截至6月13日日均股基交易额达14783亿元，同 比上涨79.76%，两融余额同比提升20.55%。中证协修订《证券公司履行社会责任专项评价办法》，新 增"服务区域协调发展"等指标，强化行业在乡村振兴和区域发展中的专业能力。当前证券行业2025E平 均PB估值1.2x，受益于市场回暖和政策环境友好，经纪、投行及资本中介业务均呈现改善趋势。非银金 融整体估值处于低位，证券行业转型带来新增长点。 （责任编辑：董萍萍 ） 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱： news_center@staff.hexun.com 证券ETF（代码：512880）跟踪的是证券公司指数（代码：399975），该指数由中证指数有限公司 编制，从A股市场中选取业务范围涵盖证券经纪、投资银行等领域的上市公司证券作为指数样本，以反 映证券行业相关上市公司证券的整体 ...

Group 1 - The non-bank financial sector has shown active performance following the "924" policy, with 38 comparable listed brokerages achieving adjusted revenue of 415.1 billion yuan and net profit attributable to shareholders of 147 billion yuan in 2024, representing year-on-year growth of 8% and 16% respectively [1] - In the first quarter of 2025, the performance further improved, with revenue and net profit increasing by 34% and 81% year-on-year, primarily driven by brokerage and proprietary trading businesses [1] - The overall price-to-book ratio of the securities industry stands at 1.27 times, which is at the 26th percentile of the past decade, indicating that valuations remain attractive [1] Group 2 - The Securities ETF (code: 512880) tracks the securities company index (code: 399975), which is compiled by China Securities Index Co., Ltd., selecting listed companies involved in securities brokerage, investment banking, and proprietary trading from the A-share market to reflect the overall performance of the securities industry [1] - The index constituents cover the entire industry chain of the securities sector, showcasing significant market representation and industry characteristics [1] - Investors without stock accounts may consider the Guotai CSI All-Share Securities Company ETF Connect C (012363) and Guotai CSI All-Share Securities Company ETF Connect A (012362) [1]

Group 1 - The recent decline in the frequency of policy introductions related to the securities industry has led to uncertainty in the valuation recovery of the sector [1] - The upcoming Lujiazui Forum on June 18-19 may introduce significant policies under the theme of "Financial Opening and Cooperation in the Global Economic Changes and High-Quality Development," with expectations for comprehensive connectivity in the Guangdong-Hong Kong-Macao Greater Bay Area, domestic companies listing in Hong Kong, cross-border mergers and acquisitions, and facilitation of domestic and foreign investments [1] - In the context of slowing growth in domestic IPOs and private placements, mergers and acquisitions are expected to become a key incremental business for securities firms [1] Group 2 - The increasing emphasis on technological innovation by the state is likely to benefit the securities industry, with expectations for comprehensive growth of technology enterprises and the acceleration of new innovative business models [1] - The return on equity (ROE) in the industry is expected to have room for improvement, particularly for leading securities firms that can leverage their capital and platform advantages in an era of high integration with AI [1] - The Securities ETF (code: 512880) tracks the securities company index (code: 399975), which reflects the overall performance of listed companies related to the securities industry in the A-share market [1]