Investment Rating - The report maintains an "Overweight" rating for the insurance sector [2] Core Views - The insurance sector is undergoing a value reassessment during its transformation phase, highlighted by China Ping An's stake acquisition in China Pacific Insurance and China Life Insurance [3][52] - The report emphasizes the potential for high dividend yields in insurance stocks, which are increasingly being viewed similarly to bank stocks in terms of asset allocation [3][52] - The securities sector is experiencing explosive growth in mid-year performance forecasts, with notable profit increases from several listed brokerages [3][51] Summary by Sections Market Review - As of August 21, 2025, the banking, securities, and insurance indices have shown respective changes of -2.00%, +6.94%, and +2.13%, with the CSI 300 index up by +4.21% [15] - Agricultural Bank (+7.75%), Changcheng Securities (+33.37%), and China Pacific Insurance (+7.20%) were the best performers in their respective sectors [15] Valuation Situation - As of August 21, 2025, the banking sector's price-to-book (PB) ratio is 0.76, with state-owned banks at 0.80, joint-stock banks at 0.66, city commercial banks at 0.74, and rural commercial banks at 0.65 [25] - The report indicates that the securities sector has a PB ratio of 1.63, suggesting room for valuation recovery [30] Recent Market Indicators - The one-year Medium-term Lending Facility (MLF) rate is 2.0%, and the Loan Prime Rates (LPR) for one year and five years are 3.0% and 3.5%, respectively [35] - The average daily trading volume in A-shares reached 25,475.45 billion yuan, reflecting a 22.60% increase [37] Industry News - China Ping An's recent acquisitions in H-shares of China Pacific Insurance and China Life Insurance signal a strong belief in the long-term value of the insurance sector [42] - The report highlights a significant increase in insurance funds allocated to equities, with a rise from 7.3% to 8.47% in the proportion of insurance funds invested in stocks [42] Company Announcements - China Pacific Insurance reported a 9% year-on-year increase in original insurance premium income for the first seven months of 2025, totaling 185.96 billion yuan [46] - Jiangyin Bank's half-year report showed a 10.45% increase in operating income, reaching 2.40 billion yuan, with a net profit increase of 16.63% [46] Weekly Views - The report suggests focusing on banks that benefit from high economic growth areas and have strong performance certainty, such as Ningbo Bank, Hangzhou Bank, and Chengdu Bank [49] - In the insurance sector, the report recommends focusing on companies with strong growth in new business value and premium income, such as China Pacific Insurance and China Life Insurance [53]

Core Viewpoint - Chengdu Bank Co., Ltd. has been rated "AAA" for its 2025 perpetual capital bonds by China Chengxin International, reflecting its strong credit profile supported by a favorable economic environment and significant market position in the western region [1] Group 1: Credit Rating and Economic Environment - Chengdu Bank's credit rating is bolstered by its important position in the local financial system, increasing market share, and a solid customer base for savings business [1] - The bank's business scale and profitability are expected to continue growing due to its expanding operations both within and outside the province [1] Group 2: Challenges and Risks - The bank faces challenges such as slow macroeconomic recovery impacting business operations and asset quality, high concentration in certain loan sectors, and difficulties in liquidity management due to increased long-term loan maturities [1] - The support from the Chengdu municipal government is also a factor considered in the rating [1] Group 3: Company Background - Chengdu Bank was established in December 1996 and has undergone several name changes, with the current name adopted in August 2008 [2] - The bank went public on the Shanghai Stock Exchange on January 31, 2018, after bringing in Malaysia's Hong Leong Bank as a strategic investor in 2007 [2] Group 4: Future Outlook - China Chengxin International anticipates that Chengdu Bank's credit level will remain stable over the next 12 to 18 months [3]

Group 1 - Chengdu Bank's stock price decreased by 2.03% on August 22, reaching 17.90 CNY per share, with a trading volume of 334 million CNY and a turnover rate of 0.44%, resulting in a total market capitalization of 75.868 billion CNY [1] - Year-to-date, Chengdu Bank's stock price has increased by 10.36%, but it has seen declines of 1.70% over the last five trading days, 3.71% over the last twenty days, and 2.02% over the last sixty days [1] - The bank's main business includes corporate banking, personal banking, and funding services, and it is categorized under the banking sector as a city commercial bank [1] Group 2 - As of March 31, the number of Chengdu Bank's shareholders decreased by 3.45% to 45,400, while the average number of circulating shares per person increased by 5.28% to 93,131 shares [2] - For the first quarter of 2025, Chengdu Bank reported a net profit attributable to shareholders of 3.012 billion CNY, marking a year-on-year growth [2] - Since its A-share listing, Chengdu Bank has distributed a total of 17.856 billion CNY in dividends, with 10.126 billion CNY distributed over the past three years [2]

据了解，前期发布招聘的资格审核、笔试成绩、面试成绩、拟聘名单等最新进展情况，可通过成都市人 民政府官网、成都市国资委官网"成都市·德眉资国企重要信息发布"专区、市属国有企业官网"重要信息 发布"专区和成都国企人才综合服务平台等方式查询，还可通过上述方式了解招聘有关进展情况。（成 都日报锦观新闻记者 王柳） 编辑: 张烁 责编: 高婷 记者昨日从市国资委获悉，成都市属国企新一轮招聘开启。本次招聘共释放189个岗位，招聘需求557 人，包含成都银行、成都产投集团、成都城投集团、成都环境集团、成都兴城集团、锦泰保险公司、成 都设计咨询集团、成都交易集团8家企业。 ...

进一步统计，近3个月内该股累计发生4笔大宗交易，合计成交金额为3204.05万元。 注：本文系新闻报道，不构成投资建议，股市有风险，投资需谨慎。 证券时报·数据宝统计显示，成都银行今日收盘价为18.27元，上涨0.11%，日换手率为0.66%，成交额为 5.10亿元，全天主力资金净流出3257.36万元，近5日该股累计上涨0.27%，近5日资金合计净流出4023.94 万元。 8月21日成都银行大宗交易一览 成都银行8月21日大宗交易平台出现一笔成交，成交量20.00万股，成交金额365.40万元，大宗交易成交 价为18.27元。该笔交易的买方营业部为中信证券股份有限公司上海分公司，卖方营业部为华泰证券股 份有限公司总部。 | 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（%） | | | | 20.00 | 365.40 | 18.27 | 0.00 | 中信证券股份有限公司 | 华泰证券股份有限 | | | | | | 上海分公司 | ...

Group 1 - Chengdu Bank actively implements national and provincial "stabilizing foreign trade" requirements and enhances cross-border financial services [1] - The bank has become one of the first cooperative banks for the "Tianfu Foreign Trade Loan," providing low-interest and fast-approval financing solutions for foreign trade enterprises [1] - Chengdu Bank has connected its internal systems with the national cross-border financial service platform, achieving significant breakthroughs in key financing scenarios for small and medium-sized foreign trade enterprises [1] Group 2 - The China-Europe Railway Express (Chengdu-Chongqing) has operated nearly 3,000 trains and transported over 240,000 TEUs in the first half of the year, maintaining the largest scale in the country [2] - Chengdu Bank's "Fast Exchange" service allows for rapid cross-border payments, with funds reaching overseas accounts in minutes and enabling full tracking of fund flows [2] - The bank has processed over 2,300 international settlements for a key enterprise, amounting to nearly $2 billion [2] Group 3 - Chengdu Bank has helped enterprises achieve full online processing of cross-border payments, significantly reducing time spent on document preparation and submission [3] - The bank's trade foreign exchange facilitation business exceeded $450 million in the first half of the year, a 38% year-on-year increase [3] - Chengdu Bank has innovated in foreign exchange risk hedging services, processing over $260 million in hedging transactions this year [3]

Core Viewpoint - The article highlights the efforts of Chengdu Bank in providing convenient financial services to international visitors during the World University Games, emphasizing the importance of accessible payment solutions in enhancing the overall visitor experience [1][8]. Group 1: Financial Services Initiatives - Chengdu Bank established a network of temporary service areas and provided mobile smart terminals to facilitate cash exchange and account inquiries for both citizens and tourists [3][5]. - The bank's staff actively engaged with foreign tourists, offering currency exchange services and introducing local specialties, such as the traditional "Kuhai tea," to create a welcoming atmosphere [3][6]. - Chengdu Bank implemented a "零钱包" (small change wallet) service to assist local merchants in providing change to tourists, enhancing the cash payment experience [5][7]. Group 2: Community Engagement - Volunteers from Chengdu Bank participated in promotional activities at popular tourist spots, such as the Wuhou Shrine, to educate visitors about payment convenience and cross-border financial services [5][6]. - The bank's outreach included direct interactions with bus drivers and passengers to address cash exchange needs, ensuring smooth transactions during the event [6][7]. - Chengdu Bank set up dedicated "零钱兑换专用通道" (small change exchange channels) for taxi drivers, allowing them to easily obtain small denominations for better service to tourists [7]. Group 3: Future Commitment - Following the conclusion of the World University Games, Chengdu Bank pledged to continue enhancing its financial services, focusing on efficiency, convenience, and warmth in customer interactions [8].

8月21日，成都银行大宗交易成交20万股，成交额365.4万元，占当日总成交额的0.71%，成交价18.27元，较市场收盘价18.27元持平。 | 2025-08-21 | 成都银行 | 601838 | 18.27 365.4 20 | 中信证券股份有限 公司上海分公司 | 华泰证券股份有限 公司总部 | | --- | --- | --- | --- | --- | --- | | 交易日期 | 证券简称 | 证券代码 | 成交价(元) 成交金额(万元) 成交量( * ) 买入营业部 | | 卖出营业部 | ...

8月17日，成都银行与成都农商银行同步发布人事任免公告。成都银行发布公告称，黄建军任成都银行委员、书记，免去王晖书记、委员职务，提名黄建军 任董事长，免去王晖董事长职务。 成都农商银行发布公告称，王晖任委员、书记，免去黄建军书记、委员职务，提名王晖任董事长，免去黄建军董事长职务。 黄建军此次接任成都银行"掌舵人"，被视为回归"老东家"。黄建军职业生涯起步于成都银行前身——成都市商业银行。从基层岗位逐步晋升，黄建军历任该 行办公室秘书科科长、董事会办公室主任、高新支行行长、西安分行行长、行长助理、副行长等职。2020年6月，黄建军离开成都银行，转任成都农商银行 党委副书记、行长；2022年8月，他升任该行党委书记、董事长。 ...

Core Viewpoint - The A-share market has seen a broad increase in bank stocks, with notable gains from several banks, including Jiangsu Bank and Postal Savings Bank reaching a historical high [1] Group 1: Stock Performance - Jiangsu Bank increased by 2.61%, with a total market value of 209.2 billion and a year-to-date increase of 21.94% [2] - Hangzhou Bank rose by 2.32%, with a market capitalization of 118.5 billion and a year-to-date increase of 13.76% [2] - Jiangyin Bank saw a 2.04% increase, with a market value of 12.3 billion and a year-to-date increase of 20.15% [2] - Chongqing Rural Commercial Bank increased by 2.00%, with a market capitalization of 75.2 billion and a year-to-date increase of 14.69% [2] - China Bank rose by 1.98%, with a total market value of 1,826.9 billion and a year-to-date increase of 7.50% [2] - Chengdu Bank increased by 1.88%, with a market value of 78.3 billion and a year-to-date increase of 13.12% [2] - Xiamen Bank saw a 1.49% increase, with a market capitalization of 18 billion and a year-to-date increase of 23.97% [2] - Qingnong Commercial Bank increased by 1.45%, with a market value of 19.4 billion and a year-to-date increase of 18.81% [2] - Xi'an Bank rose by 1.30%, with a market capitalization of 17.3 billion and a year-to-date increase of 10.36% [2] - Changsha Bank increased by 1.22%, with a market value of 39.9 billion and a year-to-date increase of 16.42% [2] - Chongqing Bank saw a 1.11% increase, with a market capitalization of 34.7 billion and a year-to-date increase of 12.10% [2] - Changshu Bank increased by 1.06%, with a market value of 25.4 billion and a year-to-date increase of 14.67% [2]