Open Source Securities: 1+6 Policy Implemented, Sci-tech Innovation Board IPO Marginally Loosened, Benefiting Securities Investment Banks and Direct Investment Business.

Open Source Securities published a research report stating that the "1+6" policy is a powerful measure to better serve technological innovation and the development of new quality productivity in the capital market. By efficiently allocating resources through the market, promoting major original innovation and technological breakthroughs, accelerating industrialization and market application, and expanding effective demand, it is the path for the capital market to serve the real economy. As intermediary institutions, securities firms benefit from capital market reform policies while implementing their role as "gatekeepers" of the capital market. Following the implementation of the policies, there will be a relaxation in the margin for Sci-Tech Innovation Board IPO, which will benefit securities investment banking and private equity direct investment. Valuations and institutional holdings in the brokerage sector are currently low, and with continued measures to stabilize the stock market at the macro level and sustained year-on-year growth in performance, the outlook for the brokerage sector remains positive.