Tianfeng's research report indicates that the speed of policy tool advancement exceeds expectations, and future event-driven opportunities can still be anticipated. It recommends leading brokerages and insurance as two support tools for capital markets. The speed of non-banking institutions' swap convenience and repurchase shareholding of re-loans is rapid, demonstrating the strength and determination of policy execution. Future policy events are expected to catalyze market trends. It is suggested to focus on brokerages that enhance profit elasticity through leverage and insurance companies that benefit from increased investment income, boosting net income performance. Brokerages and fintech companies that excel in brokerage business still hold a disparity in expectations due to increased trading activity.
天风证券：非银或仍是政策力度速度超预期下的最优解
Tianfeng Securities: Non-ferrous metals may still be the best solution under the policy strength and speed exceeding expectations.
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