Guojin Securities released a research report saying that the brokerage sector's performance and valuation are seriously mismatched and are in a state of both offense and defense. Increased resilience in the capital market and deepening brokers' international business layout will all support sector valuation repair. Stock selection ideas: 1) high-quality leading brokerage firms with undervaluation and deepening international business; 2) brokerage firms with advantages in big wealth management and big asset management businesses in the context of residents' capital entering the market; 3) M&A themed brokerage firms.

Guojin Securities released a research report saying that the brokerage sector's performance and valuation are seriously mismatched and are in a state of both offense and defense. Increased resilience in the capital market and deepening brokers' international business layout will all support sector valuation repair. Stock selection ideas: 1) high-quality leading brokerage firms with undervaluation and deepening international business; 2) brokerage firms with advantages in big wealth management and big asset management businesses in the context of residents' capital entering the market; 3) M&A themed brokerage firms.