Mergers and acquisitions resume, the valuation repair window of the securities sector opens.

Brokerage mergers and acquisitions theme heats up again. Recently, Dongwu Securities announced its intention to acquire control of Donghai Securities through the issuance of shares, adding another case of regional brokerage consolidation to the industry. Industry insiders say that against the backdrop of continued regulatory encouragement of mergers, increasing industry concentration, the brokerage sector is experiencing a triple resonance of performance growth, low valuation, and merger catalysis, and a window of valuation repair is opening up.