Huatai Securities: Current sector undervalued and underweighted, seize the opportunity to restore brokerage stocks.

Huatai Securities pointed out that since July, securities stocks have been releasing mid-year performance forecasts intensively. Among the 27 companies that have been announced, large securities companies have concentrated their year-on-year growth rate of net profit attributable to shareholders in the first half of the year in the range of 50% to 80%, while small and medium-sized securities companies have mostly concentrated in the range of 50% to 120%, with some achieving an increase of over 1000%. Wealth management, investment trading, and investment banking are core increments, reflecting the improvement in the market sentiment of the equity market in the first half of the year, with strong year-on-year growth in turnover and investment fundraising. Looking ahead to the second half of the year, the equity market is supported by the tone of "continuously stable and active capital market". Since July, trading has continued to be highly active, the Hong Kong IPO market has continued to recover, creating a good operating environment for securities firms. The current sector is undervalued and underweighted, seize the opportunity for securities stocks to recover.