ETF业务是华宝证券财富管理的核心战略抓手。截至2025年上半年，公司非货币ETF保有规模占总体非 货币基金保有规模的比例达84%。据上交所数据，截至2025年6月，其ETF保有规模居行业第25位，成 交额跻身第7位，交易账户数位列第12位，三项指标印证市场竞争力。依托业内较早推出、品类齐全的 网格交易、条件单等智能工具，华宝证券为投资者提供ETF智能网格机器人、ETF定投等全天候自动化 方案，降低操作门槛，提升投资效率。 近日，"2025资本市场高质量发展论坛"在蓉举办，华宝证券凭借在核心业务领域的卓越表现，一举获 得"2025年度最佳券商自营团队""2025年度最佳ETF服务商"两项重量级荣誉。 值得关注的是，这已是华宝证券连续第三年获得ETF服务商相关荣誉，持续领跑行业的成绩，充分印证 了其在该领域的深厚积淀。与此同时，公司在大财富管理、大产融等核心业务板块多点开花，以专业能 力与创新精神为广大客户持续创造价值。 ETF创新赋能，基金投顾规模翻倍增长 作为财富管理与资产管理领域的专业机构，华宝证券始终以"买方视角"和"跨市场思维"为锚点，凭借扎 实的行业研究能力，构建起覆盖ETF、基金投顾、自营、资管的 ...

Core Insights - The A-share market is experiencing a "bull market atmosphere," leading to significant growth in the fund advisory business, which has finally emerged from a period of stagnation [1][2] - Major firms like Zhongjin Wealth have surpassed 100 billion yuan in fund advisory assets, while other brokerages such as Huabao Securities and Hu'an Securities have also seen substantial increases in both scale and client numbers [1][2] Fund Advisory Scale Expansion - In 2025, Zhongjin Wealth announced that its buy-side advisory assets exceeded 100 billion yuan [2] - Huabao Securities reported a fund advisory scale of over 5.5 billion yuan, with a client base exceeding 150,000, marking a 40% and 20% increase respectively compared to the end of the previous year [2] - Hu'an Securities saw its signed assets grow by over 20% since the beginning of the year, with a client reinvestment rate of 40.4%, up by 4.7% [2][3] - The average holding period for clients increased by 33 days to 204 days, and 84.7% of fund advisory clients reported profits, outperforming non-fund advisory clients by 19.8 percentage points [2][3] Client Base Expansion - The number of high-net-worth and institutional clients has increased, with Huabao Securities focusing on multi-asset strategies to meet diverse client needs [5][6] - Hu'an Securities has diversified its client base by adding institutional clients, enhancing business growth opportunities [6][7] - The firm has tailored its strategies to cater to different client profiles, with high-net-worth clients preferring stable income products and ordinary clients favoring low-threshold, easy-to-operate strategies [6][7] Strategy Development - Hu'an Securities has centered its strategy around "fixed income+" products while also introducing target yield strategies and absolute return products [7] - Some firms are exploring new models, such as combining fund advisory services with private investment products to better serve clients [8] Industry Calls for Regularization - Since the pilot program began in 2019, the number of participating institutions has increased from 5 to 60, with a total asset scale of 146.4 billion yuan and 5.24 million clients as of March 2023 [9] - Industry professionals are advocating for the transition from pilot to regular operations, emphasizing the need for policy support rather than rapid expansion [9] - Suggestions include expanding the range of assets available for fund advisory services and integrating these services into personal pension accounts to enhance long-term investment strategies [9]

Group 1 - The core viewpoint of the articles indicates that 17 equity star advisory portfolios collectively reported negative returns over the past month, with only 8 maintaining positive returns in the first four months of the year [1][2] - The top three performing advisory portfolios have shifted their strategies towards defensive positions, increasing allocations in consumer sectors and undervalued assets, reflecting differing responses to market volatility [1][2] - The average return of the 17 equity star advisory portfolios was 0.22%, with the best-performing portfolio, "Yinhua Tianji - Qiaoqiao Ying," leading with a return of 7.65% in the first quarter, focusing on hard technology, medical healthcare, and basic consumer sectors [2][3] Group 2 - The "Yinhua Tianji - Qiaoqiao Ying" portfolio made adjustments in late April, increasing its allocation to consumer sectors while balancing technology categories, and reducing the proportion of index funds [2][3] - The "Jihua Jinqu" portfolio also made adjustments in late April, reducing exposure to bonds and low-volatility assets while increasing investments in undervalued sectors like pharmaceuticals and real estate [3][4] - The "Zhongou Super Stock All-Star Portfolio" conducted a rebalancing in early April, maintaining an overweight position in growth styles while optimizing specific holdings due to macroeconomic uncertainties [4] Group 3 - The global asset direction advisory portfolios showed significant performance divergence, with an average return of approximately -0.62% over the past month, and only 9 out of 27 portfolios reporting gains [4][5] - The "Guotai Jinqi Global Allocation Portfolio" achieved the highest return of 11.84% in the first four months, focusing on the Hong Kong stock market and sectors like innovative pharmaceuticals and gold [5] - The "Time Traveler Portfolio" completed its first rebalancing since 2025 in late April, shifting from high-volatility tech investments to lower-volatility index funds due to anticipated increases in U.S. stock market volatility [5]