The continued rise in the prosperity index catalyzes investment value, with the securities industry focusing on four types of targets in 2026.

In 2025, the A-share market experienced volatile growth, but the performance of the securities sector, one of the sectors highly focused by the market, lagged behind the Shanghai Composite Index, contrasting sharply with the performance shown in the third quarter reports. As 2026 approaches, the prospects for the development of the securities industry and the emerging opportunities in the sector are attracting investors' attention. According to the analysis of many industry insiders, in 2026, as the opening year of the "15th Five-Year Plan", the capital market is expected to open upward under policy support, market liquidity is expected to continue to maintain a reasonable and abundant state, the securities sector is expected to resonate in valuation and profitability under expected recovery, mergers and acquisitions and going overseas are expected to become important strategies for building first-class investment banks; in terms of investment, it is worth paying attention to leading securities companies that are challenging international first-class investment banks, mid-to-large securities companies with the potential to enter the top tier, targets benefiting from the optimization of industry competition landscape, and securities companies benefiting from the accelerated recovery of wealth management business and the enhancement of investment bank capitalization.