Sinolink Securities: The undervalued brokerage sector offers relatively high cost-effectiveness.

Sinolink Securities noted in a research report that, for the capital market, the CSRC will prioritize stabilizing the market and adhere to the principle of pursuing progress while maintaining stability. It will enhance the resilience of the capital market by improving market stabilization mechanisms, promoting the entry of medium- and long-term funds, cracking down on illegal share reductions, and encouraging share buybacks and increased holdings, while boosting market vitality through more inclusive financing-side reforms. For securities firms, measures such as investment and financing-side reforms, further expansion of cross-border connectivity, and accelerated efforts to build internationally first-class investment banks will create opportunities in domestic and cross-border wealth management, investment banking, and investment businesses. Against the backdrop of market stabilization, the undervalued securities sector offers relatively high cost-effectiveness.