鹏华余展昌:优质头部券商或打开长期盈利能力天花板|鹏华Ashares周更新

鹏华基金鹏友会2025-12-29

近日，证监会主席吴清在证券业协会会员大会上提及“鼓励强化分类监管，尤其对优质机构适当松绑，适度打开资本空间与杠杆限制”，引发市场对券商板块的密切关注。鹏华基金指数与量化投资部总经理助理、基金经理余展昌分析认为，当前监管导向正从规模扩张转向鼓励专业化经营与风险定价，预计资本杠杆的优化将进一步打开优质头部券商的业务发展空间及长期盈利能力天花板，板块估值修复迎来重要催化。头部券商迎实质利好余展昌分析认为...

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