Dongwu Securities: The current valuation of brokerage zone is at a historical low, with significant upside potential.

Jinshi data news on September 9th, Dongwu Securities research report pointed out that the current valuation of the brokerage zone has reached a historical low, and the downward space of profitability is locked, with a large upward elasticity, and a good left-side configuration window has come under the assumption of long-term valuation repair. Based on this, two directions are recommended: first, traditional securities firms with valuations far below 1 time and no major operational risks; second, Internet retail securities with great elasticity in profit repair.

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