According to the Zhitong Finance APP, China-affiliated brokerage stocks rose, as of the time of publication, Holly Futures (03678) rose by 13.02%, to HK$3.56; Citic Sec (06030) rose by 5.41%, to HK$21.45; China Galaxy (06881) rose by 5.31%, to HK$7.07; GF Sec (01776) rose by 4.64%, to HK$11.28; China Merchants (06099) rose by 4.52%, to HK$13.4.

On the news front, several brokerages have disclosed third-quarter performance recently, with most companies achieving performance turnaround. Looking at the performance of leading companies, Citic Sec achieved a net income of nearly 16.8 billion yuan in the first three quarters, a year-on-year increase of 2.3%. China Merchants and Guosen both exceeded 4.8 billion yuan in net income, with growth rates also in positive territory. Fangzheng Securities, Soochow Securities, and other brokerages all exceeded 1.1 billion yuan in net income. Some small and medium-sized brokerage firms achieved high-speed growth in performance, with Harbin Hatou Investment's performance in the first three quarters increasing by 6.4 times, and First Capital and Guosheng Financial Holding Inc. seeing growth rates exceeding 70%.

Central China Securities pointed out that, under the strong driving force of policies, the industry's profitability in the fourth quarter is expected to show more significant improvement compared to the previous three quarters. After sufficient turnover consolidation, along with the improvement of the industry's fundamentals, the brokerage sector is poised to challenge the high valuation levels of recent years at nearly 2 times P/B; even during the process of consolidation and fluctuations, the brokerage sector is expected to maintain a good structural market, actively maintaining continued attention to the brokerage sector.