Core Viewpoint - Postal Savings Bank of China has received approval from financial regulators to absorb and merge its wholly-owned subsidiary, Postal Huinong Bank, marking the end of the first independent legal direct bank controlled by a state-owned bank in China [1][2] Group 1: Merger Announcement - The merger aims to optimize resource allocation, reduce management costs, and enhance operational efficiency [2][3] - Postal Huinong Bank's financial statements have been fully integrated into Postal Savings Bank's consolidated reports, with no adverse impact on the bank's financial status or shareholder interests [2][4] Group 2: Background and Performance - Postal Huinong Bank was established in January 2022 with a registered capital of 5 billion yuan, focusing on serving agriculture, small and micro enterprises, and promoting inclusive finance [4] - Since its inception, Postal Huinong Bank has not achieved profitability, reporting revenues of 101 million yuan, 355 million yuan, and 243 million yuan from 2022 to 2024, with net losses of 162 million yuan, 263 million yuan, and 415 million yuan during the same period [4] Group 3: Digital Transformation Strategy - Postal Savings Bank is focusing on digital customer management, using its mobile banking app as the core online entry point to enhance customer acquisition and service integration [5] - The bank has shut down its independent credit card app, consolidating functions into the Postal Savings Bank app to improve user experience and resource efficiency [5] Group 4: Industry Context - The independent legal direct bank model was once seen as a path for digital transformation in the banking sector, but the rise of mobile banking apps has led to increased overlap in functionality and product offerings [6][7] - Currently, only one independent legal direct bank, Citic Baixin Bank, remains operational after the merger of Postal Huinong Bank, with Citic Baixin Bank having turned profitable in 2021 after initial losses [6][7]

日前，邮储银行公告显示，该行收到金融监管部门批复，同意邮储银行吸收合并邮惠万家银行，并承接 其清产核资后的资产、负债、业务和员工。这也意味着自2025年9月下旬，邮储银行宣告吸收邮惠万家 银行之后，相关动作已进入尾声，全国首家国有大行控股的独立法人直销银行，正式成为历史。截至目 前，独立法人直销银行仅剩中信百信银行一家。（券商中国） ...

Core Viewpoint - Postal Savings Bank of China (PSBC) has received regulatory approval to absorb and merge with its wholly-owned direct bank, Postal Huinong Bank, marking the end of the first independent legal direct bank controlled by a state-owned commercial bank in China [2][3]. Group 1: Merger Announcement and Rationale - The merger is aimed at optimizing resource allocation, reducing management costs, and enhancing operational efficiency, as stated by PSBC [3][4]. - The direct bank was initially established as a "testbed for digital transformation," but its independent value has diminished due to the rapid development of mobile banking [2][4]. - The merger will integrate Postal Huinong Bank's online operational experience into PSBC, providing new momentum for its development [4]. Group 2: Financial Performance of Postal Huinong Bank - Postal Huinong Bank, established in January 2022 with a registered capital of 5 billion yuan, has accumulated over 20 million users but has not achieved profitability since its inception [5][6]. - The bank reported revenues of 101 million yuan, 355 million yuan, and 243 million yuan from 2022 to 2024, with net losses of 162 million yuan, 263 million yuan, and 415 million yuan during the same period [5][6]. - As of June 2025, Postal Huinong Bank's total assets were 12.005 billion yuan, with a significant portion of its loans directed towards small and micro enterprises [6]. Group 3: Industry Context and Future Outlook - The independent legal direct bank model has faced challenges due to the increasing overlap in functionality with mobile banking apps, leading to a decline in the independent value of direct banks [7]. - Following the merger, only one independent legal direct bank, Citic Baixin Bank, remains operational in China, highlighting a trend of consolidation in the sector [7]. - Citic Baixin Bank has shown signs of recovery, achieving a net profit of 652 million yuan in 2024, although it experienced a decline of 23.74% year-on-year [7][8].

来源：安徽纪检监察网 中国邮政集团有限公司合肥市分公司综合办副经理罗忠辉涉嫌严重违纪违法，目前正接受中国邮政集团 有限公司安徽省分公司纪委纪律审查；经安徽省监委指定管辖，接受六安市金安区监察委员会监察调 查。（中国邮政集团有限公司安徽省分公司纪委、六安市金安区纪委监委） ...

邮储银行1月6日大宗交易平台出现一笔成交，成交量50.00万股，成交金额275.50万元，大宗交易成交价 为5.51元。该笔交易的买方营业部为华泰证券股份有限公司总部，卖方营业部为国联民生证券股份有限 公司总部。 进一步统计，近3个月内该股累计发生11笔大宗交易，合计成交金额为4530.49万元。 1月6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（%） | | | | 50.00 | 275.50 | 5.51 | 0.00 | 华泰证券股份有限 | 国联民生证券股份有 | | | | | | 公司总部 | 限公司总部 | （文章来源：证券时报网） 证券时报·数据宝统计显示，邮储银行今日收盘价为5.51元，上涨1.10%，日换手率为0.21%，成交额为 7.85亿元，全天主力资金净流入5018.88万元，近5日该股累计上涨2.04%，近5日资金合计净流出5347.66 万元。 两融数据显示，该股最新融资余额为1 ...

Core Viewpoint - Insurance capital's involvement in listed companies is increasing, with a record number of shareholding actions in 2025, particularly favoring the financial sector, especially H-shares [1][2][4]. Group 1: Shareholding Activities - By the end of 2025, insurance capital had conducted over 30 shareholding actions, marking a significant increase compared to previous years [1]. - A total of 14 insurance institutions participated in 35 shareholding actions in 2025, with Ping An Life being the most active, conducting 12 actions [2]. - The month of August saw the highest activity, with 7 shareholding actions, including Ping An Life's investments in major banks [2]. Group 2: Investment Preferences - Financial stocks, particularly H-shares of banks, are the primary targets for insurance capital, with 15 actions in the financial sector [4]. - Insurance companies prefer low-valuation, high-dividend stocks with stable performance, which aligns with the new accounting standards that favor high-dividend stocks [4][5]. - The valuation of H-shares is generally lower than A-shares, providing greater appreciation potential, along with tax benefits through the Hong Kong Stock Connect [4][5]. Group 3: Market Impact and Trends - The shareholding actions by insurance capital have positively influenced stock prices, with notable increases following such actions [7]. - Major insurance companies have shown strong stock performance, with significant annual increases in share prices, outperforming the broader market indices [9]. - The trend of insurance capital's involvement in the equity market is expected to continue, driven by considerations of dividend yield and return on equity (ROE) [10].

Core Viewpoint - Insurance capital's stake in listed companies has significantly increased, with over 30 instances of stake acquisitions in 2025, marking a new high in recent years [1][10]. Group 1: Stake Acquisition Trends - In 2025, insurance companies made 35 stake acquisitions, up from 20 in 2024, indicating a growing trend in equity market participation [2][11]. - The financial sector is the primary focus for insurance capital, with 15 stake acquisitions involving 6 banks and 2 insurance companies [1][4]. - The H-share market is the main venue for these acquisitions, as it offers better valuation opportunities compared to A-shares [1][4]. Group 2: Active Participants - A total of 14 insurance institutions participated in stake acquisitions in 2025, with Ping An Life leading with 12 acquisitions [2][11]. - Other notable participants include Great Wall Life and China Post Life, each with 4 acquisitions, and several others with fewer [2][11]. - August 2025 was particularly active, with 7 acquisitions, including Ping An Life's significant stake in Postal Savings Bank [2][11]. Group 3: Investment Characteristics - Insurance capital favors low-valuation, high-dividend stocks with stable performance, particularly in the banking sector [4][13]. - The new accounting standards encourage insurance companies to increase stake acquisitions to stabilize profit and loss fluctuations [3][12]. - Financial stocks, especially H-shares, are preferred due to their higher dividend yields compared to long-term bond yields [4][13]. Group 4: Financial Performance of Target Companies - Six banks targeted by insurance capital showed a range of return on equity (ROE) from approximately 6% to 11.55% [5][14]. - The banks reported stable dividend distributions, with China Merchants Bank having the highest number of cumulative dividends at 24 [5][14]. - In the first three quarters of 2025, five banks reported year-on-year profit increases, with Postal Savings Bank achieving a net profit of 765.62 billion yuan, up 0.98% [5][14]. Group 5: Market Reactions and Future Outlook - Stake acquisitions by insurance capital have positively influenced stock prices, often leading to short-term price surges [6][16]. - Insurance stocks have outperformed other sectors, with significant annual increases in stock prices for major insurance companies [8][18]. - The trend of insurance capital acquisitions is expected to continue into 2026, driven by considerations of dividend yield and return on equity [9][19].

1月6日，邮储银行大宗交易成交50万股，成交额275.5万元，占当日总成交额的0.35%，成交价5.51元， 较市场收盘价5.51元持平。 | 026-01-06 | 邮储银行 | 601658 | 5.51 275.5 5 50 | 签需证券股份有限 | 哥瑟民告送藝股份 | ка | | --- | --- | --- | --- | --- | --- | --- | | 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 | ...

证券之星消息，1月6日国有大型银行板块较上一交易日下跌0.37%，中国银行领跌。当日上证指数报收 于4083.67，上涨1.5%。深证成指报收于14022.55，上涨1.4%。国有大型银行板块个股涨跌见下表： 从资金流向上来看，当日国有大型银行板块主力资金净流出7.27亿元，游资资金净流入4.2亿元，散户资 金净流入3.07亿元。国有大型银行板块个股资金流向见下表： | 代码 | 名称 | 主力净流入 (元) | 主力净占比 游资净流入 (元) | | 游资净占比 散户净流入 (元) | | 散户净占比 | | --- | --- | --- | --- | --- | --- | --- | --- | | 601658 邮储银行 | | 4820.08万 | 6.14% | -4386.57万 | -5.59% | -433.51万 | -0.55% | | 601398 工商银行 | | 592.09万 | 0.29% | 583.85万 | 0.29% | -1175.94万 | -0.58% | | 601288 农业银行 | | -2728.64万 | -1.55% | -1928.45万 | - ...

Core Insights - The Anji white tea industry has become a significant driver of regional economic growth, with a planting area of approximately 170,000 acres and an annual production of 2,420 tons, contributing nearly 7 billion yuan to the full industry chain value [1] - Postal Savings Bank of Anji County has launched an innovative "full-cycle financial service plan" for the white tea industry, addressing the unique challenges of seasonality and limited collateral in the tea sector [1] Group 1 - The white tea industry is a key pillar of the local economy and cultural identity, playing a vital role in rural revitalization [1] - The bank has established a dedicated white tea service team, trained in both financial and tea industry knowledge, to provide comprehensive financial services to farmers and businesses [2] - In the spring tea season of 2025, the bank provided over 50 million yuan in credit support to more than a thousand tea farmers [2] Group 2 - Anji County White Tea Group Co., Ltd. is a leading agricultural enterprise that plays a crucial role in promoting high-quality development and income growth in the local white tea economy [2] - The bank has also introduced "industry loans" for processing plants and cooperatives, and online credit loans for distributors and e-commerce merchants, facilitating quick access to funds [3] - The bank plans to continue enhancing its financial services for the white tea industry and expand successful practices to other local agricultural sectors, contributing to rural revitalization and common prosperity [3]