"Buying securities firms is equivalent to buying a basket of discounted technology stocks" trading logic fermenting, securities firms' stocks staged a value reassessment market.

Recently, the A-share brokerage sector has bid farewell to its previous silence, with frequent abnormal fluctuations in the market and increasing attention from investors. The most significant change in the market is the breaking of the previous "brokerage firms rise, technology stocks fall" see-saw effect of existing funds, with both securities and hard technology stocks showing strength. The trading logic of "buying brokerage firms is like buying a basket of discounted technology stocks" is quickly gaining popularity in the market. Brokerage firms have long been the focus of funds only as the "flagship of a bull market", but now they hold a large number of equity stakes in hard technology companies through investment banking follow-ups and direct stock investments. Coupled with their sector's historically low valuations, the underlying science and technology innovation is gradually being explored by capital, setting the stage for a new and comprehensive reevaluation of value in the market.