MACD金叉信号形成，这些股涨势不错！ 格隆汇10月24日｜A股市场银行股今日普跌，其中，江阴银行跌超3%，西安银行、重庆银行、渝农商 行跌超1%，青岛银行、苏农银行跌近1%；农业银行逆势上涨0.5%。 | 代码 | 名称 | | 涨幅% ↑ | 总市值 | 年初至今涨幅% | | --- | --- | --- | --- | --- | --- | | 002807 | 江阴银行 | | -3.06 | 125亿 | 22.07 | | 600928 | 西安银行 | | -1.20 | 184亿 | 17.17 | | 601963 | 重庆银行 | # | -1.07 | 354 乙 | 14.57 | | 601077 | 渝农商行 | | -1.00 | 789亿 | 20.40 | | 002948 | 青岛银行 | -306- | -0.95 | 302亿 | 38.02 | | 603323 | 苏农银行 | - | -0.94 | 107亿 | 15.09 | | 002839 | 张家港行 | 兼 | -0.87 | 111亿 | 11.80 | | 601009 | 南京银行 | 1 ...

总之，就是你很难猜透它的小心思。比如，本来大家认为指数一天可以跌完的，它非得分成二天跌，弄得大家高位的股票不敢追，低位的股票不敢卖，反 正就是怎么操作都不顺手。 大小齐发力 相较于此前，最近资金喜欢在股市当中走极端。这点倒是跟消费市场有点异曲同工之妙，高端、低端两侧消费更容易火爆。 资金最近也爱走两极。要不就是做大市值的股票，要不就是选择低价股。 最近高市值股票的代表莫过于农业银行，已经走出14连阳，市值一度高达2.9万亿，近一个月涨了25%左右。做光模块的中际旭创，10月22日，股价又创 出新高，市值接近5000亿。 一个万亿市值的农业银行，股价接连创新高，这得需要多少资金才能拉得起来，拉起来得多费钱啊。 但是，外界环境干扰颇多、大盘不稳定情况下，各路资金有的要考虑托指数，有的要考虑避险。 近30日主力资金流入排名中，农业银行排名第一。资金流入排名前十的股票里，有八只都是银行股，剩下两只也都是金融属性的公司。 除了大市值企业，小票的连板行情也很活跃。比如，大有能源已经8连板了。这段时间以来，最多也就4连板。 概念眼花缭乱 你能猜得到第二天哪个板块会涨吗？大概率猜不到，几乎都要靠消息刺激。 比如前几天，自然资 ...

Core Viewpoint - China Agricultural Bank plans to disclose its Q3 2025 performance on October 30, 2025, and will hold an earnings briefing to address investor inquiries [2][7]. Group 1: Earnings Briefing Details - The earnings briefing will take place on October 30, 2025, from 17:00 to 18:00 [8]. - The format of the briefing will be an online text interaction [3][8]. - Investors can participate by logging into the Shanghai Stock Exchange Roadshow Center [5][7]. Group 2: Investor Participation - Investors are encouraged to submit questions via email to the bank's investor relations email by October 28, 2025, at 23:59 [2][5]. - Questions can also be asked during the briefing session [5][6]. - The bank's investor relations contact information is provided for further inquiries [6].

Investment Rating - The report maintains a "Positive" investment rating for the banking sector as of October 23, 2025 [6]. Core Insights - The external environment's uncertainty has increased, leading to a temporary decline in market risk appetite. However, the report is optimistic about the relative performance of the banking sector in Q4 2025 [3]. - The report identifies two main investment themes: the ongoing demand for financial investments and the motivation behind realizing unrealized gains in bank assets [4][9]. Summary by Sections 1. Investment Assets Driving Bank Expansion - Financial investment growth has accelerated to 15%, with significant performance differentiation across sectors. In H1 2025, financial investments were the core driver of asset expansion, with a year-on-year growth of 14.9% [14]. - The structure of financial investments shows that interest-bearing bonds continue to dominate, with their proportion increasing to 60.2% by mid-2025. The growth rates for state-owned banks and city commercial banks were 8% and 11%, respectively [16]. 2. Changes in How Banks Smooth Earnings Volatility - Banks are increasingly shifting from using the income statement to the balance sheet to smooth earnings volatility. The report highlights that the contribution of investment income, particularly from the amortized cost (AC) assets, has been rising significantly [9][10]. - The unrealized gains in the Other Comprehensive Income (OCI) account were estimated at CNY 438.4 billion, representing 7.8% of annual revenue as of H1 2025 [9]. 3. Motivation for Realizing Unrealized Gains - Smaller banks exhibit a stronger motivation to realize unrealized gains compared to larger banks, which need to balance performance and interest rate risk management (IRRBB) assessments [9]. - The report anticipates continued demand for realizing unrealized gains in Q3 2025, although the intensity may weaken compared to mid-year [9][10]. 4. Investment Recommendations - The report recommends focusing on fundamentally strong small and medium-sized banks, such as Chongqing Rural Commercial Bank (601077, Buy) and Nanjing Bank (601009, Buy) [9]. - For state-owned banks with solid fundamentals and defensive value, the report mentions Industrial and Commercial Bank of China (601398, Not Rated) and Agricultural Bank of China (601288, Not Rated) as potential investment targets [9].

Core Viewpoint - The banking sector in both Hong Kong and A-shares has shown strong performance, with several banks experiencing significant stock price increases, driven by a favorable market environment and investor sentiment towards dividend-paying stocks [1][3][4]. Group 1: Stock Performance - Postal Savings Bank (01658.HK) rose by 4.59%, while Minsheng Bank (01988.HK) increased by 2.39%, and Agricultural Bank of China (01288.HK) saw a rise of 1.88% in the Hong Kong market [1][2]. - In the A-share market, Postal Savings Bank (601658) gained 4.71%, Minsheng Bank (600016) increased by 2.72%, and several other banks also rose over 1%, although Agricultural Bank A-shares fell by 1.24% [2][4]. - The banking sector has experienced an 11-day consecutive rise in the A-share banking index and a similar trend in the Hong Kong banking stocks index [3]. Group 2: Market Capitalization - As of October 23, 2025, Agricultural Bank of China has solidified its position as the largest bank by market capitalization in A-shares, with a total market value of approximately 27,963.64 billion RMB, despite a recent decline of 1.24% [5][6]. - The overall market capitalization of the banking sector has been positively impacted, with Agricultural Bank's H-shares also showing a continuous upward trend [6]. Group 3: Dividend and Valuation - The banking sector's price-to-book ratio has improved, with Agricultural Bank's A-shares returning to a price-to-book ratio of 1 [6]. - The dividend yield for A-share banks has reached a range of 4%-5%, significantly higher than one-year deposit rates and ten-year government bond yields, enhancing the attractiveness of these stocks [6][7]. - Analysts suggest that the banking sector is supported by high dividend yield, valuation safety margins, and favorable capital allocation dynamics [7]. Group 4: Future Outlook - Morgan Stanley's recent report indicates that domestic bank stocks are expected to complete a natural cycle bottom without large-scale stimulus, supported by improvements in M1 growth and industrial profits [7]. - The upcoming dividend distributions and stable interest rates are anticipated to further support the revaluation of bank stocks in the fourth quarter [7].

Core Viewpoint - Agricultural Bank of China (ABC) has achieved a remarkable 14 consecutive trading days of stock price increases, leading to a market capitalization of over 2.83 trillion yuan, making it the highest in A-shares [1][3]. Group 1: Stock Performance - ABC's stock price rose from 6.61 yuan to 8.09 yuan during the 14-day period, resulting in a cumulative increase of 23.14% [1]. - The bank's year-to-date stock price increase has reached 58%, leading the A-share banking sector [3]. - The trading volume during the 14 days amounted to 51.942 billion yuan, with an increasing average daily trading volume from approximately 2.67 billion yuan to around 3.9 billion yuan [3]. Group 2: Financial Performance - In the first half of 2025, ABC reported operating income of 369.937 billion yuan and a net profit attributable to shareholders of 139.51 billion yuan, marking a year-on-year growth of 2.7% [4]. - The bank's county-level loans exceeded 10 trillion yuan, accounting for nearly 41% of total domestic loans, highlighting its strong position in the county financial sector [4]. Group 3: Market Trends - The A-share market is experiencing a style shift, with historical data indicating a 70% probability of absolute returns for bank stocks in the fourth quarter [4]. - The bank benefits from favorable policies, including a 25% share of central bank re-loan quotas for agricultural support and a tolerance for non-performing loans in agricultural lending [5]. Group 4: Investment Dynamics - ABC's stable dividend yield of around 4.5% makes it an attractive option for long-term investors, especially in a volatile market [6]. - The bank's top ten shareholders are primarily state-owned entities, which stabilizes its stock price and reduces the influence of speculative trading [6]. - However, the high concentration of institutional ownership limits participation from retail investors, leading to low trading turnover [6][8].

Market Overview - A total of 58 stocks hit the daily limit up, while 14 stocks faced limit down, resulting in a sealing rate of 81%. Major stocks like Dayou Energy achieved 10 consecutive limit ups over 14 trading days, while Shihua Machinery, ShenKong Co., and Yingxin Development recorded 4 consecutive limit ups [1][3] - The market showed signs of recovery with all three major indices closing in the green. The Shanghai and Shenzhen stock exchanges had a total trading volume of 1.64 trillion, a decrease of 23.9 billion from the previous trading day. The Shanghai Composite Index rose by 0.22%, the Shenzhen Component Index also increased by 0.22%, and the ChiNext Index saw a slight rise of 0.09% [1][3] Stock Performance Analysis - The advancement rate for consecutive limit-up stocks dropped to 28.57%. Dayou Energy continued to lead with 8 consecutive limit ups, while sectors like deep earth economy and Belt and Road Initiative failed to maintain their previous momentum, leading to mixed performances among stocks [3][4] - Low-priced stocks in the recent first limit-up category showed significant activity, with stocks like Chuangye Environmental Protection and Dongjiang Environmental experiencing price surges due to H-shares' intraday boosts [3][4] Sector Highlights - The Shenzhen government announced an action plan to promote high-quality mergers and acquisitions from 2025 to 2027, aiming for a total market capitalization of listed companies to exceed 20 trillion yuan and to cultivate 20 companies with a market value of over 100 billion yuan. This news positively impacted local Shenzhen stocks, leading to multiple stocks hitting the limit up [5][31] - The quantum technology sector experienced a surge following significant advancements, including Google's announcement of a new algorithm that outperforms the best supercomputers by 13,000 times. Stocks like Keda Guokai and ShenZhou Information saw limit ups due to this momentum [6][17][18] Coal Sector Dynamics - The coal sector is heating up as winter approaches, with major players like Dayou Energy recording an 8-day consecutive limit up and a 146% increase over the last 14 trading days. The price of coal at northern ports has risen from 620 yuan to 740 yuan per ton since July, reflecting a significant supply-demand shift [7][28] Media and Entertainment Trends - The short drama market is projected to see explosive growth, with a compound monthly growth rate exceeding 83% for the number of short drama titles by 2025. Companies like Rongxin Culture and Huanrui Century have reported limit ups, driven by this trend [8][23][24] Future Outlook - The three major indices faced pressure from declines in sectors like computing hardware and semiconductors but managed to recover due to gains in large financial stocks. The market remains in a phase of stock selection, with a focus on weighty stocks and small-cap stocks [9][10]

Core Viewpoint - The article discusses the performance of dividend strategies in the market, highlighting the significant internal differentiation in returns among various sectors and stocks. Group 1: Overall Performance of Dividend Strategies - In the third quarter, the CSI Dividend Index increased by 2.5%, indicating a relatively average performance [4] - The banking ETF experienced a decline of 9.1%, with only state-owned banks, particularly Agricultural Bank of China (601288.SH), showing impressive performance [7] - The traditional heavy sectors of the dividend index, such as coal, performed well recently [10] Group 2: High Dividend Strategy Performance - The high dividend strategy by Fengyunjun saw a substantial increase of 16.74% in the third quarter, significantly outperforming the index [13] - Notable stocks that performed well include Kangputon (603798.SH), Meiyingsen (002303.SZ), Tiancheng Technology (688603.SH), Dongfang Yuhong (002271.SZ), Rong'an Real Estate (000517.SZ), and Jizhong Energy (000937.SZ), showcasing a diverse range of industries [13] Group 3: Market Sentiment and Future Outlook - The rebound in dividends suggests a shift in risk appetite among some investors, but reliance on a few sectors like coal and state-owned banks may not sustain a more prolonged upward trend [15]

证券代码：601288 证券简称：农业银行 公告编号：临 2025-047 号 中国农业银行股份有限公司 1 会议召开时间：2025年10月30日（星期四）17:00-18:00 会议召开方式：网络文字互动 参会网址：上证路演中心（http://roadshow.sseinfo.com） 投资者如需提问，可于2025年10月28日（星期二）23:59前将 相关问题通过电子邮件形式发送至本行投资者关系邮箱： ir@abchina.com，或在会议召开时提问。 二、业绩说明会安排 （一）会议召开时间：2025年10月30日（星期四）17:00-18:00 （二）会议召开方式：网络文字互动 （三）参会网址：上证路演中心（http://roadshow.sseinfo.com） 三、参加人员 关于召开2025年三季度业绩说明会的公告 中国农业银行股份有限公司董事会及全体董事保证本公告内容不存在任何 虚假记载、误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性 承担法律责任。 重要内容提示： 中国农业银行股份有限公司（以下简称"本行"）拟于2025年 10月30日（星期四）披露本行2025年三季度业绩。为了便于 ...

（ 於 中 華 公 司 ） 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發表任 何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責 任。 中 國 農 業 銀 行 股 份 有 限 公 司 AGRICULTURAL BANK OF CHINA LIMITED 三、參加人員 董事會秘書劉清及相關業務部門負責人。 四、投資者參加方式 人 民 共 和 國 註 冊 成 立 之 股 份 有 限 （股份代號：1288） 關於召開2025年三季度業績說明會的公告 中國農業銀行股份有限公司（「本行」）擬於2025年10月30日（星期四）披露本行2025年三季 度業績。為了便於廣大投資者更全面深入地了解本行2025年三季度業績和經營情況，本 行擬於2025年10月30日（星期四）17:00-18:00召開業績說明會，就投資者普遍關注的業績 問題進行交流。 一、業績說明會類型 業績說明會通過網絡文字互動方式召開。 二、業績說明會安排 - 1 - （一）會議召開時間：2025年10月30日（星期四）17:00-18:00 （二）會議召開 ...