证券时报·数据宝统计显示，邮储银行今日收盘价为5.81元，下跌1.02%，日换手率为0.27%，成交额为 10.43亿元，全天主力资金净流出1.30亿元，近5日该股累计下跌0.68%，近5日资金合计净流出1.23亿 元。 邮储银行11月13日大宗交易平台出现一笔成交，成交量190.00万股，成交金额1103.90万元，大宗交易成 交价为5.81元。该笔交易的买方营业部为华泰证券股份有限公司总部，卖方营业部为中信证券股份有限 公司深圳分公司。 进一步统计，近3个月内该股累计发生8笔大宗交易，合计成交金额为3553.50万元。 11月13日邮储银行大宗交易一览 | 成交量 | 成交金额 | 成交价格 | 相对当日收盘折溢 | 买方营业部 | 卖方营业部 | | --- | --- | --- | --- | --- | --- | | （万股） | （万元） | （元） | 价（%） | | | | 190.00 | 1103.90 | 5.81 | 0.00 | 华泰证券股份有限 | 中信证券股份有限公司 | | | | | | 公司总部 | 深圳分公司 | （文章来源：证券时报网） 两融数据显示，该股最新融资 ...

Core Insights - Recent surge in share buybacks by multiple A-share listed banks indicates a strong confidence from various funding sources in the banking sector [1] Group 1: Share Buybacks by Bank Executives - Local commercial banks' board members and senior management have become the main force behind the share buybacks, demonstrating confidence in their own banks [2] - Qilu Bank disclosed that its board and senior management plan to buy back shares from September 16 to December 31, with a total buyback amount of approximately 3.15 million yuan, accounting for 90% of the planned buyback amount [2] Group 2: Significant Share Purchases by Major Shareholders - Xiamen Bank announced that its board and senior management have cumulatively bought back 254,400 shares for a total of 1.6857 million yuan, completing their buyback plan [5] - Qingdao Bank's major shareholder, Guoxin Chanin Holdings, increased its stake by acquiring 243 million H-shares from September 15 to November 5, amounting to 957 million yuan, thus becoming the largest shareholder with a 19.17% stake [5][6] Group 3: Insurance Capital Involvement - Insurance funds have significantly increased their allocation to the banking sector since the third quarter, with Ping An Life raising its stake in Postal Savings Bank to 16.01% after investing approximately 7.068 million HKD [8] - China Ping An also announced an increase in its holdings of Postal Savings Bank H-shares, raising its stake from 6.09% to 17.01% after investing about 3.441 million HKD [8] - Other insurance companies have also made notable investments in various banks, indicating a trend of insurance capital favoring the banking sector due to its high dividend characteristics [9]

Core Viewpoint - The emergence of a "bank direct supply housing" market is noted, where banks are selling properties at significantly lower prices than the market rate, yet many properties are failing to attract bids, indicating a potential mismatch between supply and demand [2][4][20]. Group 1: Market Dynamics - On November 10, the Lanzhou Rural Commercial Bank auctioned over a hundred residential units at prices as low as half the market rate, but all units received zero bids, leading to a failed auction [2][4]. - Major banks, including Agricultural Bank and various city commercial banks, are actively listing thousands of properties for direct sale, with Agricultural Bank listing 3,436 properties and Guangdong Rural Credit System exceeding 12,000 [3][10]. - The properties being sold are primarily non-performing assets, often resulting from loans that borrowers could not repay, and banks are under pressure to liquidate these assets within two years [4][16]. Group 2: Pricing and Demand - The starting prices for bank-supplied properties can be as low as 2,000 yuan per square meter, significantly below the market average of around 5,000 yuan per square meter, yet this has not translated into sales [4][20]. - Despite the attractive pricing, properties like those from the "育才壹品" project have not seen any successful bids, highlighting a potential lack of buyer interest or confidence in these offerings [20]. - In contrast, properties previously used as bank offices are in high demand, with some selling for prices significantly above their starting bids, indicating a differentiated market response based on property type [2][16]. Group 3: Asset Liquidation Process - The increase in bank direct supply housing is closely tied to the disposal of non-performing loans, with banks utilizing both judicial and non-judicial methods to recover debts [16][17]. - The judicial auction process typically starts at 70% of the appraised value, with subsequent rounds reducing the price further, leading to properties being sold at approximately 56% of their original appraised value after multiple rounds [17]. - The case of Lanzhou Rural Commercial Bank illustrates this process, where properties were acquired through court enforcement after the original borrower defaulted on a significant loan [17].

进一步统计，近3个月内该股累计发生7笔大宗交易，合计成交金额为3071.1万元。该股近5个交易日累 计下跌0.68%，主力资金合计净流出7005.21万元。 第1笔成交价格为5.81元，成交190.00万股，成交金额1,103.90万元，溢价率为0.00%，买方营业部为华 泰证券股份有限公司总部，卖方营业部为中信证券股份有限公司深圳分公司。 来源：新浪证券-红岸工作室 11月13日，邮储银行收跌1.02%，收盘价为5.81元，发生1笔大宗交易，合计成交量190万股，成交金额 1103.9万元。 ...

| 交易日期 | | 证券代码 ----- | 成交价(元) 成交金额(万元) 成交量(*) 买入营业部 | | | | 美出营业部 | 是否为专场 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 025-11-13 | 邮储银行 | 601658 | 5.81 1103.9 | 190 | 会需经营股份有限 | 去德慧킬劈纹意眼 | | ка | 11月13日，邮储银行大宗交易成交190万股，成交额1103.9万元，占当日总成交额的1.05%，成交价5.81 元，较市场收盘价5.81元持平。 ...

Core Insights - The article highlights the emergence of a "bank direct supply housing" market, where banks are selling properties at significantly discounted prices, often around half of the market value, but facing challenges in attracting buyers [2][6][24]. Group 1: Bank Direct Supply Housing - The "Yucai Yipin" residential units listed by Lanzhou Rural Commercial Bank on JD Asset Platform were auctioned at prices as low as 7,000 to 11,000 yuan, translating to approximately 2,000 yuan per square meter, which is significantly lower than the market price of around 5,000 yuan per square meter [6][24]. - Major banks, including state-owned and city commercial banks, are increasingly engaging in direct sales of properties to quickly liquidate non-performing assets, with thousands of properties listed for sale [6][14]. - As of November 10, 2023, JD Asset Platform had 414 residential and 957 commercial properties listed by banks, indicating a substantial increase compared to the previous year [9]. Group 2: Non-Performing Asset Disposal - The rise in bank direct supply housing is closely linked to the disposal of non-performing assets, primarily properties that serve as collateral for loans that borrowers have defaulted on [20][21]. - Traditional methods of disposing of non-performing loans, such as selling debt to third parties or through judicial auctions, have become increasingly slow and inefficient, prompting banks to explore direct sales [33][36]. - The process of judicial auctions often results in properties being sold at a significant discount, with average starting prices around 70% of the appraised value, leading to further price reductions if properties do not sell [21][36]. Group 3: Market Reception and Challenges - Despite the attractive pricing of bank direct supply housing, the sales performance has been disappointing, with many properties, including those at over 50% discounts, failing to attract bids [27][42]. - Certain types of properties, such as former bank office buildings, have seen higher demand and successful sales, indicating a market preference for specific asset types [28]. - The disconnect between the marketing of these properties and the actual demand from potential buyers, particularly in lower-tier cities, poses a significant challenge for banks in effectively liquidating these assets [41][42].

Core Insights - The state-owned large bank sector experienced a decline of 0.19% on November 13, with Postal Savings Bank leading the drop [1] - The Shanghai Composite Index closed at 4029.5, up 0.73%, while the Shenzhen Component Index closed at 13476.52, up 1.78% [1] Bank Performance Summary - Industrial and Commercial Bank of China (ICBC) closed at 8.21, with a slight increase of 0.24% and a trading volume of 2.9014 million shares [1] - Bank of Communications remained unchanged at 7.45, with a trading volume of 1.6997 million shares [1] - China Bank closed at 5.74, down 0.35%, with a trading volume of 3.0444 million shares [1] - Agricultural Bank of China closed at 8.56, down 0.35%, with a trading volume of 3.5622 million shares [1] - China Construction Bank closed at 9.54, down 0.52%, with a trading volume of 904,900 shares [1] - Postal Savings Bank closed at 5.81, down 1.02%, with a trading volume of 1.7964 million shares [1] Fund Flow Analysis - The state-owned large bank sector saw a net outflow of 297 million yuan from main funds, while speculative funds had a net inflow of 355 million yuan [1] - Retail investors experienced a net outflow of 58.1835 million yuan [1] Individual Bank Fund Flow - Bank of Communications had a main fund net inflow of 30.3628 million yuan, while retail investors saw a net outflow of 33.0669 million yuan [2] - ICBC experienced a main fund net outflow of 6.8361 million yuan, with speculative funds seeing a net inflow of 30.1024 million yuan [2] - China Construction Bank had a main fund net outflow of 18.4073 million yuan, with speculative funds seeing a net inflow of 25.9620 million yuan [2] - China Bank faced a significant main fund net outflow of 89.5407 million yuan, while speculative funds had a net inflow of 55.9172 million yuan [2] - Agricultural Bank of China had a main fund net outflow of 104 million yuan, with speculative funds seeing a net inflow of 125 million yuan [2] - Postal Savings Bank experienced a main fund net outflow of 109 million yuan, while speculative funds had a net inflow of 115 million yuan [2]

Group 1 - The core product discussed is the Shitou goose, known for its large size, fast growth, and delicious meat, which has significant economic value and is a key pillar of the rural economy in the Chaoshan region of Guangdong Province [1][2] - The company "Riyixiang Goose Rice Restaurant," founded in 2003, has expanded from a small shop to a well-known brand, engaging in the entire goose meat industry chain, including breeding, production, and sales [1] - Financial support from Postal Savings Bank has been crucial for local businesses, enabling them to overcome funding challenges and expand operations, such as the case of a goose farm owner who received a loan of 600,000 yuan within a week [2] Group 2 - The "Agricultural and Animal Husbandry Loan" product from Postal Savings Bank is designed for agricultural producers, offering quick approval and up to 2 million yuan in credit, which addresses various financing needs in production and capacity expansion [2] - The future strategy of Postal Savings Bank's Guangdong branch focuses on supporting key rural industries, including the Shitou goose sector, aligning with national rural revitalization initiatives [2]

Core Viewpoint - Postal Savings Bank of China (PSBC) experienced a decline of 1.02% in stock price on November 13, with a trading volume of 1.043 billion yuan and a market capitalization of 697.752 billion yuan [1] Financial Performance - PSBC's dividend yields over the past three years were 5.58%, 6.00%, and 4.61% respectively, indicating a strong return for investors [2] - For the period from January to September 2025, PSBC reported a net profit of 76.562 billion yuan, reflecting a year-on-year growth of 0.98% [7] Shareholder and Market Activity - As of September 30, 2025, the number of PSBC shareholders decreased by 13.09% to 142,600, while the average number of circulating shares per person increased by 15.29% to 478,570 shares [7] - The stock's main trading activity showed a net outflow of 92.2626 million yuan today, with no clear trend in the main capital flow [3][4] Company Overview - PSBC, established on March 6, 2007, and listed on December 10, 2019, provides a range of banking and financial services in China, with personal banking accounting for 65.15% of its revenue, corporate banking 22.71%, and funding operations 12.10% [6] - The company is ultimately controlled by China Post Group Co., Ltd., and is classified under the category of state-owned enterprises [2] Dividend Distribution - Since its A-share listing, PSBC has distributed a total of 137.796 billion yuan in dividends, with 77.395 billion yuan distributed over the last three years [8]

Market Performance - The three major A-share indices collectively rose, with the Shanghai Composite Index increasing by 0.73%, the Shenzhen Component Index by 1.78%, and the ChiNext Index by 2.55% [1] - The total trading volume in the Shanghai, Shenzhen, and Beijing markets reached 20,657 billion yuan, an increase of 1,009 billion yuan compared to the previous day [1] - Nearly 4,000 stocks in the market experienced gains [1] Sector Performance - The battery industry chain, non-ferrous metals, organic silicon, Fujian, storage chips, photovoltaic equipment, and liquid cooling server sectors saw significant gains [1] - Conversely, the oil and gas extraction and services, as well as the transportation and banking sectors, underperformed [1] Notable Stocks - The battery industry chain experienced a strong rally, particularly in the electrolyte segment, with stocks such as Haike Xinyuan, Huasheng Lithium Battery, and Enjie Co., Ltd. hitting the daily limit [1] - Contemporary Amperex Technology Co., Ltd. (CATL) saw a peak increase of 9% during the trading session [1] - The non-ferrous metals sector also performed well, with stocks like Xingye Silver Tin and Guocheng Mining reaching the daily limit [1] - Alibaba Cloud-related stocks rose towards the end of the trading session, with Data Port hitting the daily limit and other stocks like Hangang Co., Ltd. and Tongniu Information also gaining [1] - Other sectors such as storage chips, photovoltaic equipment, and organic silicon also experienced intraday surges [1] - On the downside, oil and gas stocks faced localized adjustments, with companies like Quanyou Co., China National Offshore Oil Corporation, and Tongyuan Petroleum seeing declines [1] - The banking sector also retreated, with stocks such as Chongqing Rural Commercial Bank, Changsha Bank, and Postal Savings Bank of China experiencing drops [1]