内容概况：中小银行在推动我国经济长远发展方面起到了积极作用，一方面，通过灵活的市场机制和较高的服务效率，支持民营经济和大量的中小企业成 长，繁荣地方经济；另一方面，作为我国金融供给侧改革的重要组成部分，中小银行通过自身变革推进了金融市场化进程。伴随着金融业改革发展进程，我 国中小银行在支持地方经济发展、服务乡村振兴、助力民营小微企业发展、满足城乡居民多样化金融需求等方面发挥着积极作用，已成为我国金融生态的重 要组成部分，资产总额占据商业银行的半壁江山。近年来，随着银行业竞争日趋激烈，我国中小银行生存空间持续被压缩。为寻求更多业务发展机会，在国 家政策支持下，越来越多中小银行开始凭借着一级法人的体制优势和地缘优势，通过补充资本、引进战略投资者、实行差异化经营等方式不断提高市场竞争 力，争夺主要商业银行的客户资源和信贷资源，特别是在小微企业融资贷款领域，国内中小银行业取得显著成就，促使行业总资产实现大幅扩张。数据显 示，2024年中国中小银行总资产为192.25万亿元，同比增长6.39%；总负债为177.36万亿元，同比增长6.27%。2025年1-11月，中国中小银行总资产为201.6万 亿元，同比增长6.49 ...

Group 1 - The core viewpoint of the news is the successful implementation of a 1.7 billion yuan syndicated loan led by Industrial Bank's Urumqi branch to support a chemical company's integrated project for resource clean and efficient utilization in Xinjiang [1][2] - The project has a total planned investment of over 3 billion yuan, utilizing advanced gasification technology based on local coal resources to create a clean and efficient coal conversion platform, producing multiple products such as synthetic ammonia, melamine, and compound fertilizers [1] - The project aims to explore carbon dioxide reduction pathways during production, highlighting its significant environmental benefits and industrial driving effects [1] Group 2 - The successful execution of the syndicated loan reflects the bank's commitment to green finance and its role in supporting the real economy, effectively dispersing financing risks and providing stable funding for key green projects [2] - The bank plans to deepen cooperation with various enterprises and extend its financial services, positioning itself as a "local financial main force" and "enterprise growth partner" to contribute to high-quality regional economic development and improved public welfare [2]

多家银行推出黄金挂钩结构性存款 随着国际金价的持续走强，与黄金相关标的挂钩的银行结构性存款也"火"了。 据梳理统计，截至目前，已经有交通银行、招商银行、兴业银行、民生银行、江苏银行、上海银行、上海农商银行等多家中资银行以及星展 银行、渣打银行等外资银行相继推出了此类特色存款产品。同时，甚至有部分热门产品还呈现了"上架即售罄"的热销状态。 多位银行业内人士表示，随着金价的不断创新高，当前和黄金挂钩的产品普遍都比较好卖，且近期储户存款大规模到期，不少投资者于近期 开始积极咨询起挂钩黄金的结构性存款情况。此外，多家上市公司也于近期披露了认购该产品情况，认购总规模也远超去年同期。 【导读】银行积极热销黄金挂钩结构性存款，上市公司认购规模远超去年同期 近期，多家银行App均推出了和黄金挂钩的结构性存款产品。例如，交通银行App显示了4款名为"稳添慧"的结构性存款产品，分别为黄金看 涨64天、黄金看跌64天、股指看涨36天和股指看跌36天。这些产品均为R1低风险产品，1万元起购，预期年化收益区间为0.5%—3.20%。 中国基金报记者 马嘉昕 记者查阅招商银行App发现，该行在售的黄金挂钩的结构性存款数量繁多，普遍期限在 ...

Core Insights - The article emphasizes the significant role of small and medium-sized banks in supporting China's long-term economic development through flexible market mechanisms and high service efficiency [2] - It highlights the ongoing transformation and competitive pressures faced by these banks, leading to strategies aimed at enhancing market competitiveness and expanding their asset base [2][8] Group 1: Industry Overview - Small and medium-sized banks are defined as all banks excluding the six major state-owned banks, and they include various types such as national joint-stock banks, urban commercial banks, rural commercial banks, and private banks [4] - These banks have become a crucial part of China's financial ecosystem, holding a substantial share of total assets in the banking sector [2] Group 2: Financial Performance - In 2024, the total assets of China's small and medium-sized banks reached 192.25 trillion yuan, marking a year-on-year growth of 6.39%, while total liabilities were 177.36 trillion yuan, up 6.27% [2] - By November 2025, total assets increased to 201.6 trillion yuan, reflecting a growth of 6.49%, with total liabilities at 186.07 trillion yuan, a rise of 6.66% [2] Group 3: Policy Environment - The Chinese government has shown strong support for the development of small and medium-sized banks, with policies aimed at enhancing their role in financing small and micro enterprises and promoting rural revitalization [8] - Key policies include the "Opinions on Further Deepening Rural Reform" and measures to support small and micro enterprise financing, which guide these banks to leverage their local advantages [8][10] Group 4: Industry Chain - The upstream of the small and medium-sized banking industry chain includes IT service providers, payment platforms, and financial market participants, which support banks in innovation and service delivery [11] - The midstream consists of the banks themselves, which provide essential financial services to meet diverse consumer and business needs [11][12] Group 5: Competitive Landscape - As competition intensifies, small and medium-sized banks are adopting strategies such as capital supplementation, attracting strategic investors, and differentiated operations to enhance their market position [2][8] - The focus on small and micro enterprise financing has led to significant achievements in expanding the industry’s total assets [2]

业内人士对记者分析称，两家银行在分行层面任命行长兼任合规官，能更主动推动合规管理制度嵌入业务全流 程，避免合规与基层业务脱节，提高合规与风险管理效率。相信两家银行不是唯二，更多银行将不仅按照金融 监管总局《金融机构合规管理办法》在总行设立首席合规官，也会在分行层面设立合规官。 总行层面，兴业银行首席合规官由副行长孙雄鹏兼任；平安银行首席合规官由行长助理、首席风险官吴雷鸣兼 任，但两者均是在2025年12月才被董事会聘任为首席合规官，两者任职资格均待国家金融监督管理总局核准。 已有20多家行设置首席合规官 商业银行，已经不再局限于在总行层面设立首席合规官了。 券商中国记者独家获悉，平安银行1月27日集中发布一批任命，在八家分行任命行长兼任合规官。继兴业银行 任命七家分行行长兼任合规官后，平安银行成为又一家在分行层面完成合规官配备的股份行。 分行一把手开始兼任合规官 券商中国记者获悉，就在刚开完全行2026年工作会议的第二天，1月27日，平安银行就对内发布了一批任命： 任命重庆、昆明、青岛、佛山、乌鲁木齐、沈阳、哈尔滨、西安八家分行的行长，兼任分行合规官。 也是在近日，据"金融人事"报道，兴业银行在北京、上海、南 ...

Market Overview - The A-share market exhibited a fluctuating and differentiated pattern last week, with major indices showing mixed performance and active rotation among hot sectors [1][7] - Institutions generally hold an optimistic outlook, believing the market is likely to trend upward [1][7] - As of January 25, over 950 companies have disclosed their 2025 earnings forecasts, with around 40% of these companies showing positive performance [1][7] Semiconductor Industry - The semiconductor industry, particularly companies related to artificial intelligence, data center construction, and domestic substitution, is expected to see strong earnings growth in 2025 [1][8] - Notable companies include: - Zhongwei Semiconductor expects revenue of approximately 1.122 billion yuan, a year-on-year increase of about 23%, and a net profit of 284 million yuan, up approximately 107% [8] - Juchip Technology anticipates revenue of 922 million yuan, a 41.44% increase, and a net profit of 204 million yuan, up 91.40% [2] - Baiwei Storage forecasts revenue between 10 billion to 12 billion yuan, a growth of 49.36% to 79.23%, and a net profit of 850 million to 1 billion yuan, a staggering increase of 427.19% to 520.22% [3][9] Pharmaceutical Industry - The pharmaceutical sector is experiencing a "polarized" performance, with over 60 companies disclosing earnings forecasts, about half of which are positive [1][9] - Key performers include: - Zhaoyan New Drug expects a net profit of approximately 233 million to 349 million yuan, a year-on-year increase of 214% to 371% [10] - Shanghai Yizhong anticipates a net profit of 6 million to 7 million yuan, a growth of 760.18% to 903.54% [10] - However, companies like Zhifei Biological are projected to incur significant losses, with an expected net loss of 10.7 billion to 13.7 billion yuan [10][5] Banking Sector - As of January 25, eight listed banks have released earnings reports, with all showing year-on-year growth in net profit [5][11] - Key statistics include: - China Merchants Bank's total assets surpassing 13 trillion yuan, and Industrial Bank exceeding 11 trillion yuan [11] - The highest net profit growth among these banks is from Hangzhou Bank at 12.05%, followed by Shanghai Pudong Development Bank at 10.52% [11] - The growth drivers for banks include improved cost of liabilities and rapid growth in intermediary business income, with Ningbo Bank's net income from fees and commissions increasing by 30.72% [12]

转自：新华财经 "现在到银行办事，字看得清、操作不着急，真是越来越方便咱们老年人了！"近日，办理完业务在兴业 银行济南分行临沂营业网点"兴公益"惠民驿站休息的张大妈，对着升级后的智能柜台设备连连称赞。为 切实解决老年群体金融服务痛点，兴业银行以"兴公益"惠民驿站为载体，从智能服务、硬件设施、操作 细节多方面升级适老化服务，让老年客户办事更省心、更舒心。 作为家门口的"适老服务站"，"兴公益"惠民驿站的环境设施处处体现着贴心考量。驿站内爱心座椅柔软 舒适，老花镜、放大镜、应急医药箱、轮椅等便民物资一应俱全，专门开设的老年客户绿色通道，让老 人无需长时间排队即可优先办理业务。工作人员主动上前搀扶老人、放慢语速讲解流程，遇到视力不佳 的老人还会调亮屏幕、放大单据字体，用细致服务消除老年客户的办事顾虑。 智能服务升级让数字金融不再"难"。兴业银行手机银行"安愉版"专为老年客户打造，设置养老金融服务 专区，"养老钱""安愉课堂"等养老模块，不仅界面字体放大加粗、图标清晰醒目，还搭配语音搜索功 能，老人只需说出"查余额""交电费"等指令，就能一键直达业务页面，轻松跨越"数字鸿沟"。 "适老化服务要落在实处，既要优化硬件设 ...

Report Industry Investment Rating No information provided in the report. Core Views - Scale: The growth of passive index funds has slowed down. As of the end of Q4 2025, there were 7,583 equity funds (excluding ETF-linked funds and FOF funds) in the market, an increase of 294 from Q3 2025. The total scale of all equity funds was RMB 9,457.212 billion, a decrease of RMB 27.704 billion from the previous quarter. Passive index funds had the largest increase in both quantity and scale [3]. - Position: The positions of active equity funds decreased slightly. In terms of arithmetic average and stock market value weighted average position levels, the positions of active equity funds decreased by 1.13 pct. and 0.91 pct. respectively. Specifically, the funds with the largest position decreases were partial equity hybrid funds and flexible allocation funds [3]. - Sector distribution and allocation: There was a significant reduction in the allocation to the Hong Kong Stock Exchange and an increase in the allocation to the Main Board. In Q4 2025, the total scale of all top ten heavy - held stocks decreased by RMB 67.305 billion compared with the previous quarter. Among them, the scale of the Main Board increased, while the scales of the other sectors decreased. Compared with the allocation ratio of the total A - share floating market value among sectors, active equity funds continued to under - allocate the Main Board and over - allocate the Science and Technology Innovation Board and the Growth Enterprise Market in Q4. Specifically, the under - allocation ratio of the Main Board was - 20.51%, and the over - allocation ratios of the Growth Enterprise Market and the Science and Technology Innovation Board were 13.50% and 7.00% respectively. The under - allocation ratio of the Main Board and the over - allocation ratio of the Science and Technology Innovation Board both narrowed slightly quarter - on - quarter [3]. - Industry allocation: In Q4, the top five industries with an increase in the proportion of holding market value were non - ferrous metals, communication, household appliances, environmental protection, and non - bank finance; the top five industries with a decrease in the proportion of holding market value were electronics, pharmaceutical biology, media, banking, and machinery [3]. - Heavy - held individual stocks: The total market value of active equity funds' holdings of CATL was RMB 181.5 billion, ranking first. The top five stocks in terms of holding market value were CATL, Zhongji Innolight, New Fiber Optic, Kweichow Moutai, and Zijin Mining. Compared with the previous quarter, Tencent Holdings dropped out of the top 5, and Zijin Mining entered the top 5 [3]. - Total shareholding: Stocks such as Foxconn Industrial Internet were reduced, while stocks such as Industrial Bank were increased. In Q4, Industrial Bank, Ping An of China, Meituan - W, Tuojing Technology, and Dongshan Precision had the highest increase in total shareholding. In contrast, Foxconn Industrial Internet, East Money, Alibaba - W, EVE Energy, and CATL had the highest reduction in total shareholding [3]. - Central Huijin ETF holdings: According to the holder data disclosed in the Q4 2025 public fund regular reports, as of the end of Q4 2025, the shareholdings of Central Huijin Investment Co., Ltd. and Central Huijin Asset Management Co., Ltd. in most broad - based and industry - specific ETFs remained stable. Only in some industry - themed ETFs were there small redemption actions observed: the special plan managed by Huijin Asset Management redeemed 16 million shares of the automobile ETF and 338 million shares of the electronics ETF under China Asset Management in Q4 [3]. Summary by Directory 1. Equity Fund Scale, Position, and Sector Distribution - **1.1 Passive index fund quantity and scale growth slow down, active equity fund positions decrease slightly**: As of the end of Q4 2025, there were 7,583 equity funds (excluding ETF - linked funds and FOF funds) in the market, an increase of 294 from Q3 2025. The total scale of all equity funds was RMB 9,457.212 billion, a decrease of RMB 27.704 billion from the previous quarter. Passive index funds had the largest increase in both quantity and scale. In Q4 2025, the positions of active equity funds decreased slightly. The arithmetic average and stock market value weighted average position levels decreased by 1.13 pct. and 0.91 pct. respectively. The funds with the largest position decreases were partial equity hybrid funds and flexible allocation funds [10][12]. - **1.2 Significant reduction in the allocation to the Hong Kong Stock Exchange and an increase in the allocation to the Main Board**: In Q4 2025, the total scale of all top ten heavy - held stocks decreased by RMB 67.305 billion compared with the previous quarter. Among them, the scale of the Main Board increased, while the scales of the other sectors decreased. The allocation ratio of the Main Board increased by 2.14 pct. quarter - on - quarter, and the allocation ratio of the Hong Kong Stock Exchange decreased by 1.54 pct. quarter - on - quarter. Compared with the allocation ratio of the total A - share floating market value among sectors, active equity funds continued to under - allocate the Main Board and over - allocate the Science and Technology Innovation Board and the Growth Enterprise Market in Q4. The under - allocation ratio of the Main Board was - 20.51%, and the over - allocation ratios of the Growth Enterprise Market and the Science and Technology Innovation Board were 13.50% and 7.00% respectively. The under - allocation ratio of the Main Board and the over - allocation ratio of the Science and Technology Innovation Board both narrowed slightly quarter - on - quarter [15][16]. 2. Industry Allocation - **2.1 Heavy - held A - share industry distribution**: In Q4 2025, the top ten heavy - held industries of active equity funds were electronics, non - ferrous metals, power equipment, communication, computer, machinery, automobile, non - bank finance, pharmaceutical biology, and household appliances. Compared with Q3 2025, the rankings of non - ferrous metals and other industries increased significantly, while the ranking of pharmaceutical biology decreased significantly. In Q4, the top five industries with an increase in the proportion of holding market value were non - ferrous metals, communication, household appliances, environmental protection, and non - bank finance; the top five industries with a decrease in the proportion of holding market value were electronics, pharmaceutical biology, media, banking, and machinery [22][24]. - **2.2 Heavy - held A - share active allocation**: Compared with the weights of CSI 300 constituent stocks, in Q4, active equity funds' heavy - held A - shares maintained a relatively high over - allocation ratio in industries such as electronics, non - ferrous metals, and power equipment. The over - allocation ratio of electronics was 7.31%, that of non - ferrous metals was 4.10%, and that of power equipment was 2.05%. Industries such as banking, non - bank finance, and food and beverage were still under - allocated. The under - allocation ratio of banking was - 9.62%, that of non - bank finance was - 6.44%, and that of food and beverage was - 4.12%. Compared with Q3, the over - allocation ratio of non - ferrous metals increased significantly, while the over - allocation ratio of electronics decreased significantly [28]. 3. Heavy - Held Stock Situation - **3.1 Tencent Holdings drops out of the top 5, Zijin Mining enters the top 5**: Among the top 20 heavy - held stocks by market value, the total market value of active equity funds' holdings of CATL was RMB 181.5 billion, ranking first. The top five stocks in terms of holding market value were CATL, Zhongji Innolight, New Fiber Optic, Kweichow Moutai, and Zijin Mining. Compared with the previous quarter, Tencent Holdings dropped out of the top 5, and Zijin Mining entered the top 5. In terms of the number of funds with positions, the top five stocks with the most positions in Q4 were CATL, Zhongji Innolight, Zijin Mining, New Fiber Optic, and Tencent Holdings. Among them, 2,043 active equity funds held positions in CATL. Compared with the previous quarter, Zhongji Innolight's ranking rose by 2 places, and Tencent Holdings' ranking dropped by 2 places [31][33]. - **3.2 Stocks such as Foxconn Industrial Internet are reduced, while Industrial Bank is increased**: From the perspective of the change in the total amount of heavy - held stocks held by active equity funds, in Q4, Industrial Bank, Ping An of China, Meituan - W, Tuojing Technology, and Dongshan Precision had the highest increase in total shareholding. In contrast, Foxconn Industrial Internet, East Money, Alibaba - W, EVE Energy, and CATL had the highest reduction in total shareholding [35]. 4. Central Huijin ETF Holdings As of the end of Q4 2025, the shareholdings of Central Huijin Investment Co., Ltd. and Central Huijin Asset Management Co., Ltd. in most broad - based and industry - specific ETFs remained stable. Only in some industry - themed ETFs were there small redemption actions observed: the special plan managed by Huijin Asset Management redeemed 16 million shares of the automobile ETF and 338 million shares of the electronics ETF under China Asset Management in Q4 [37].

Group 1 - The banking sector saw a decline of 0.35% on January 27, with Pudong Development Bank leading the drop [1] - The Shanghai Composite Index closed at 4139.9, up 0.18%, while the Shenzhen Component Index closed at 14329.91, up 0.09% [1] - Major banks such as China Merchants Bank and Ping An Bank experienced slight fluctuations in their stock prices, with China Merchants Bank closing at 38.10, up 0.21% [1] Group 2 - The net inflow of main funds into the banking sector was 944 million yuan, while retail investors saw a net outflow of 68.6153 million yuan [1] - Among individual stocks, China Merchants Bank had a main fund net inflow of 659 million yuan, while Ping An Bank experienced a net outflow of 3.2144 million yuan [1] - The trading volume for China Merchants Bank was 1.5724 million shares, with a transaction value of 6.017 billion yuan [1]

银行行业资金流向排名 | 代码 | 简称 | 今日涨跌幅（%） | 今日换手率（%） | 主力资金流量（万元） | | --- | --- | --- | --- | --- | | 600036 | 招商银行 | 0.21 | 0.76 | 57927.71 | | 601166 | 兴业银行 | -0.32 | 0.65 | 31721.16 | | 601988 | 中国银行 | 0.38 | 0.20 | 22929.83 | | 601398 | 工商银行 | -0.14 | 0.17 | 16622.86 | | 601288 | 农业银行 | 0.73 | 0.21 | 15225.05 | | 601328 | 交通银行 | -0.45 | 0.89 | 11030.65 | | 600919 | 江苏银行 | 0.00 | 0.83 | 11029.79 | | 601229 | 上海银行 | 0.11 | 0.45 | 10639.77 | | 002142 | 宁波银行 | 0.86 | 0.77 | 7393.48 | | 601939 | 建设银行 | 0.35 | 1.44 | 6 ...