Recently, the equity transfer and auction of small and medium-sized brokerages have been gradually increasing. Industry insiders believe that the acceleration of equity flow among small and medium-sized brokerages is driven by intensified industry competition and the difficulties faced by some small and medium-sized brokerages due to poor operation and weaker overall strength; regulatory authorities support the securities industry in optimizing and strengthening through mergers and acquisitions, which has also promoted the frequent occurrence of equity transfers to some extent. (Securities Times)