The triple margins are improving, and Huaxia Securities ETF (515010) has experienced net fund inflows for three consecutive days.

On March 24, the major indices showed mixed performance. In the market, the state-owned enterprise automotive concept and healthcare biotech sectors led the gains, while the photovoltaic and phosphate chemical sectors declined. The securities and financial technology sectors performed relatively strongly. As of 10:35, the Huaxia Securities ETF (515010) rose by 1.43%, with its top holdings, First Venture, up 3.95%, Southwest Securities up 2.99%, and other stocks like Guohai Securities, Pacific Securities, and Changjiang Securities also gaining. The Huaxia Financial Technology ETF (516100) increased by 0.59%. Data shows that the Huaxia Securities ETF (515010) experienced continuous net capital inflows over the past three days, totaling 38.46 million yuan.

Statistics indicate that from March 16 to 20, the average daily market turnover reached 2.211 trillion yuan, a decrease of 11.51% month-on-month but an increase of 42.68% year-on-year. As of March 20, 2026, the margin financing and securities lending balance in the Shanghai, Shenzhen, and Beijing markets reached 2.6501 trillion yuan, a 4.31% increase since the beginning of the year, accounting for 2.63% of the tradable market capitalization of A-shares.

CITIC Construction Investment analysis points out that with the current regulatory environment stabilizing, clear consumer promotion policies, and AI technology improving efficiency, the consumer finance industry is in a period driven by both policy and technological dividends. The securities sector shows a triple marginal improvement, and its performance in 2026 is expected to surpass expectations.

From a valuation perspective, the latest price-to-earnings ratio (PE-TTM) of the CSI All Share Securities Index tracked by the Huaxia Securities ETF (515010) is only 14.92 times, placing it in the 2.83 percentile over the past 10 years, meaning its valuation is below 97.17% of the past decade, at a historic low.

The Huaxia Securities ETF (515010) closely tracks the CSI All Share Securities Index. As of February 27, 2026, the top ten holdings in the index are Oriental Fortune, CITIC Securities, Guotai Haitong, Huatai Securities, China Merchants Securities, GF Securities, Orient Securities, Industrial Securities, Shenwan Hongyuan, and China International Capital Corporation, collectively accounting for 60.15% of the index. (The stocks listed above are only index components and do not constitute specific recommendations.)

(The stocks listed above are only index components and do not constitute specific recommendations.)

Huaxia Securities ETF (515010) is connected to the over-the-counter market via Huaxia CSI All Share Securities Company ETF Connect A (007992), Huaxia CSI All Share Securities Company ETF Connect C (007993), and Huaxia CSI All Share Securities Company ETF Connect D (023766).