哪些银行业金融机构和团队获得殊荣，现在揭晓！ （原标题：重磅发布！2025中国银行业天玑奖名单出炉，属于你的荣耀时刻来了） 11月19日—20日，"第十九届深圳国际金融博览会暨2025中国金融机构年会"在深圳举行。由证券时报主 办的"2025中国金融机构年会"主题为"聚势赋能 重塑价值"。 "2025中国金融机构年会"包括一场主论坛和六场分论坛，涉及证券投行、资管，以及银行、保险、信 托、期货等细分领域。 来自头部银行、保险、券商、期货公司逾1000名业界精英共同围绕当前中国经济、金融领域的热点问题 展开探讨。 "2025中国银行业天玑奖"评选结果在19日同步揭晓。今年超百家银行业金融机构前来角逐。 "天玑奖"是由人民日报社旗下《证券时报》主办的业界权威奖项，重点关注商业银行近一年的进步与发 展。目前，"天玑奖"已连续举办七届，每年参评机构数量近百家，是国内银行领域最为专业、最有影响 力、最具权威性的品牌活动之一。 "天玑奖"评选秉承"公平、公开、公正"原则，采取"定量指标+专家评审＋微信投票"相结合的形式，旨 在寻找到中国银行业最优秀的公司、最有价值的创新和最有意义的实践，具有较高的社会认可度、市场 公信力 ...

Core Viewpoint - The company, Baillie Gifford Tianheng (688506.SH), has signed a strategic cooperation agreement with the Bank of China Sichuan Branch to establish a long-term comprehensive strategic partnership, which includes a commitment to provide no less than 8 billion yuan in credit support for the company's development strategy [1] Group 1: Strategic Cooperation - The agreement involves specific business operations that will require separate contracts to be signed [1] - The Bank of China has acknowledged the funding needs faced by the company in the process of innovative drug research and industrialization [1] Group 2: Financial Support - The strategic cooperation is expected to accelerate the company's strategic layout in the global biopharmaceutical frontier, reinforcing its leading position in fields such as antibody-drug conjugates (ADC) and multi-specific antibodies [1] - This partnership aims to seize new opportunities in the global biopharmaceutical industry, promoting mutual benefits and joint development [1]

证 券 研 究 报 告 供需两弱下的逆风局 2026年银行二永债年度策略 证券分析师：黄伟平 A0230524110002 杨雪芳 A0230524120003 研究支持： 曹璇 A0230125070001 2025.11.19 主要内容 ◼ 供给：预计明年或继续维持相对低位，TLAC债有所补充 ✓ 近年来二永净供给下台阶，今年以来明显缩量。20-20年净供给约1万亿元，22-23年约为7000亿元，24年仅5500亿元左右，25年至今下降至3630亿元。 ✓ 市场步入成熟期：大行资本补充需求趋缓，中小银行承压或成发行主力。 ✓ 银行二永债：综合监管要求和资本充足率现状、二永债到期分布和获得批文情况，展望2026年，二永净融资可能维持平稳偏低水平，或与2024-2025年大致 相当（4000-5000亿左右），且呈现"大行占比下降、股份行/中小行占比提升"的特征。 ✓ TLAC非资本债券：2024-2025年发行规模整体低于预期，考虑TLAC监管指标现状、政策时点和TLAC债券发行计划额度，预计未来TLAC债券的供给压力也 相对可控，2026年净供给预计维持在3000亿元左右，或是银行次级债供给的重要补充。 ...

Core Viewpoint - Baillie Tianheng Pharmaceutical Co., Ltd. has signed a strategic cooperation agreement with Bank of China Sichuan Branch to establish a long-term comprehensive strategic partnership [1] Group 1 - The agreement requires that specific business activities under this partnership will need to be formalized through separate business contracts [1] - Both parties will operate under the principles established in the agreement, ensuring compliance with national laws and regulations [1] - The rights and obligations of both parties will be defined by the specific business agreements and contracts [1]

Core Viewpoint - The banking sector in A-shares has shown strong performance, with China Bank's stock price reaching a historical high, driven by rising risk aversion, institutional fund accumulation, and expectations of loose monetary policy [1][3][11]. Group 1: Market Performance - As of November 19, the A-share banking sector index rose by 0.63%, with China Bank leading the gains, closing up 3.81% [3][4]. - Other banks such as Everbright Bank, Ping An Bank, Jiangsu Bank, and CITIC Bank also saw significant increases in their stock prices [3][4]. Group 2: Factors Driving Performance - The recent rise in the banking sector is attributed to heightened risk aversion among investors, leading to a shift from high-volatility sectors like solar and semiconductors to low-valuation, high-dividend defensive sectors [11]. - The average dividend yield of the banking sector is approximately 6.5%, significantly higher than the 1.80% yield of 10-year government bonds, making it an attractive option for risk-averse funds [11]. Group 3: Institutional Investment Trends - Insurance funds have increased their holdings in bank stocks by 8.36 billion shares as of the end of Q3 2025, focusing on major state-owned banks and stable regional banks [11]. - Analysts believe that the combination of monetary policy easing and financial regulation aimed at reducing liability costs will support steady profit recovery for banks [12]. Group 4: Future Outlook - Institutions are optimistic about the banking sector's investment prospects, anticipating that the high dividend theme will continue to resonate in the market [12]. - The banking sector is expected to benefit from structural adjustments towards technology finance, green finance, and pension finance, which will enhance long-term growth potential and support valuation recovery [12].

Market Overview - The three major indices experienced a rebound after three consecutive declines, with the Shanghai Composite Index and ChiNext Index slightly rising, while the Shenzhen Component Index remained flat. The total trading volume in the two markets was 1.73 trillion yuan, a decrease from the previous period, with nearly 4,200 stocks declining [1]. ETF Performance - The leading non-ferrous metal ETF (159876) saw an intraday increase of 3.27%, closing with a gain of 2.48%. The chemical ETF (516020) also rose by over 1%. The non-ferrous metal sector led the market, attracting significant capital inflow, with the leading non-ferrous metal ETF accumulating 1.96 billion yuan over three days [3][4]. - The largest bank ETF (512800) rose nearly 1%, recovering above all moving averages, indicating a strong medium to long-term trend [8][10]. Sector Highlights - The non-ferrous metal sector attracted over 8.2 billion yuan in net inflow, making it the top sector in terms of capital absorption among 31 primary industries. Key stocks in this sector, such as Zhongjin Gold and Tianqi Lithium, saw significant price increases, with Zhongjin Gold rising over 8% [6][7]. - The banking sector showed strong performance, with China Bank surging 3.81%, marking its largest single-day gain in a year and reaching a historical high. Other banks like Everbright Bank and Ping An Bank also saw gains of nearly 2% [8][9]. Future Outlook - Analysts suggest that the current market environment favors a "barbell strategy," balancing value and growth styles to capture excess returns in advantageous sectors. The non-ferrous metal sector is expected to perform well due to rising demand and supply constraints, with projections indicating a potential bull market in 2026 [3][7][12]. - The banking sector is benefiting from low valuations and high dividend yields, which are becoming increasingly attractive amid year-end risk aversion. The upcoming mid-term dividend distributions from banks are expected to further enhance their appeal to investors [11][13].

| 分时 多日 ·· | 综合屏 F9 前震吸 超级量加 面线 工具 @ (7 » | 银行ETF O | 0.842 +0.008 +0.96% | 512800SH 银行ETE] 2025/11/19 收0.842 幅0.96%(0.008) 开0.834 圆座 | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | MA5 0.8421 MA10 0.8411 MA20 0.8341 MA60 0.8231 MA120 0.8391 MA27 x 1 | SSE CNY 15:00:18 闭市 | 第 股 元 日 日 | 0.870 | 李宝中证银行ETF 今年 | 净值击势 | 13.34% 120日 | 5.32% | | | | | | | -38.98% 委员 -335681 5日 | 或比 | 0.71% 250日 | 19.45% | 0.842 | 英五 | 0.847 | 34169 | 1.57% 52周德 | 0.91 | 20日 | | | ...

Core Viewpoint - The announcement of a strategic cooperation agreement between Baili Tianheng and Bank of China Sichuan Branch aims to enhance the company's development in the global biopharmaceutical sector, particularly in antibody-drug conjugates (ADC) and multi-specific antibodies, with a commitment of no less than 8 billion RMB in comprehensive credit support [1][1][1] Group 1 - Baili Tianheng has signed a strategic cooperation agreement with Bank of China Sichuan Branch to establish a long-term comprehensive strategic partnership [1] - The Bank of China Sichuan Branch commits to providing a total of no less than 8 billion RMB in credit support to facilitate Baili Tianheng's development strategy [1] - This agreement is expected to accelerate Baili Tianheng's strategic layout in the forefront of the global biopharmaceutical field and strengthen its leading position in ADC and multi-specific antibody sectors [1] Group 2 - The cooperation is seen as beneficial for both parties to seize new opportunities in the global biopharmaceutical industry, aiming for mutual benefit and common development [1] - The financial support aligns with the company's development plan and the interests of all shareholders [1]

Core Viewpoint - The company, Baillie Gifford, has signed a strategic cooperation agreement with Bank of China Sichuan Branch to establish a long-term comprehensive strategic partnership, which includes a commitment to provide no less than 8 billion yuan in credit support for the company's development strategy [1] Group 1 - The strategic cooperation agreement aims to support the company's funding needs in the innovative drug research and development process [1] - The agreement will facilitate the company's strategic layout in the global biopharmaceutical frontier, reinforcing its leading position in fields such as antibody-drug conjugates (ADC) and multi-specific antibodies [1] - This partnership is expected to help both parties seize new opportunities in the global biopharmaceutical industry, achieving mutual benefits and common development [1]

Core Viewpoint - The company has signed a strategic cooperation agreement with Bank of China Sichuan Branch, committing to provide a total of no less than 8 billion RMB in comprehensive credit support [1] Group 1: Strategic Cooperation - The agreement focuses on deep cooperation in domestic and international capital market operations, cross-border finance, and international business collaboration [1] - The partnership will also explore innovative financial services and industry chain finance, as well as personal financial services [1] Group 2: Agreement Details - The agreement becomes effective upon the signatures and seals of the legal representatives of both parties and has a validity period of five years, automatically extending upon expiration [1]