20 年日均交易额8921 亿元，同比+63%，IPO、债券发行规模显著回升，预计投行业务整体触底回升。预计2020 年上市券商净利润同比+60%。预计2021 年行业净利润同比+12%。目前券商股估值合理，预计未来主要为贝塔行情，考虑到行业发展政策积极，我们认为大型券商优势仍显著，推荐东方财富、招商证券、中金公司。

1 月份权益市场震荡上涨、债券市场收益率环比下滑。截至1 月29 日，上证综指+0.29%，沪深300 +2.70%，证券（申万）板块-5.13%，跑输沪深300指数7.83 个百分点，中债总全价指数-0.38%。资金价格方面，截至1 月29日，10 年期国债收益率收于3.20%，1 月份呈先降后升，较月初下行2 个BP。板块内个股表现方面，除东方财富（+13.55%）、招商证券（+10.71%）外全部收跌，跌幅排名前三的为中原证券（-26.64%）、国联证券（-23.49%）、中泰证券（-21.57%）

Asset performance management software helps in interpretation and analysis of all data of assets provided in both input and output format through which operator can continuously explore and investigate overall asset performance to gain decisive insights for asset utilization planning. By using the application of statistical methods and tools of older asset performance data, asset performance management software conducts predictive forecasting to derive decision-making insights and inputs. It helps organizations to optimize its availability and reliability of physical asset, and facilitates strategic & informed decision-making before the point of actual break down in asset which may cause delay in production.

Digital lending platform has enabled borrowers and lenders to lend money through paperless or electronic means, offering ease of use, and enhancing customer experience. Furthermore, the digital lending process begins with online application with user registration, online documentation submission, customer authentication & verification, loan approval, loan disbursement, and loan recovery. This platform is increasingly adopted among banks, as it facilitates seamless monitoring and offers enhanced profitability benefits. In addition, it allows borrowers to easily apply for loans and offers them transparency, which, in turn, leads to significant time savings. This automated nature of online lending platform offers lenders and borrowers a more precise approach to deliver funding solutions, thus reducing stress and increasing chances of successful loan approval.