Huatai Securities' research report highlights that brokerage firms have intensively released interim performance forecasts since July. Among the 27 disclosed reports, major brokerages recorded 50%-80% year-on-year growth in net profit attributable to shareholders, while small-to-mid-sized firms mostly achieved 50%-120% gains. Several even surpassed 1000% growth, partially attributable to previous low-base effects.

Core growth drivers emerged clearly across wealth management, investment trading, and investment banking divisions. These gains reflect improved equity market sentiment during the first half, with trading volumes and investment banking financing demonstrating remarkable year-on-year expansion.

Looking forward, the equity market finds support under Beijing's policy framework emphasizing "sustained stability and active capital markets." Trading activity has maintained robust momentum since July, while Hong Kong's IPO market continues its recovery trajectory. This dual tailwind creates favorable operating conditions for brokerage operations.

Currently trading at discounted valuations with relatively light institutional positioning, the brokerage sector presents compelling opportunities for investors seeking exposure to its ongoing recovery narrative. Market participants should strategically position themselves to capitalize on this emerging rebound potential.