Group 1 - The A-share market showed strong performance today, with the Shanghai Composite Index reaching a new high for the year. The banking sector experienced significant gains, and the brokerage sector saw a sharp rise in the afternoon, with the largest securities ETF in the Shenzhen market (159841) increasing by over 1.6% and the Tianhong Bank ETF (515290) rising by over 2% [1] - The recent surge in interest for virtual asset licenses is notable, with Guotai Junan International becoming the first Chinese brokerage to obtain a virtual asset trading license in Hong Kong, followed by Tianfeng International, indicating a proactive approach by Chinese brokerages in emerging business areas [1] - Institutions suggest that Hong Kong's strategic commitment to developing virtual assets is clear, leveraging mature financial infrastructure and an international regulatory framework, leading to rapid growth in the virtual asset industry. Traditional financial institutions are enhancing their licensing and business layouts in response to this trend [1] Group 2 - In the banking sector, brokerages believe that in a low-interest-rate and asset-scarce environment, dividend-paying assets with stable ROE capabilities may remain resilient and attractive, potentially becoming important long-term investment options amid short-term market volatility. The recent reduction in reserve requirements and interest rates has opened up space for lower risk-free rates, highlighting the dividend value of state-owned banks [2] - The Tianhong Bank ETF (515290) reached a historical high in the secondary market today, marking three consecutive months of net inflows [2] - Investors can also access financial sector opportunities through securities ETF linked funds (Class A 008590; Class C 008591) and Tianhong Bank ETF linked funds (Class A 001594; Class C 001595) [2]