Core Viewpoint - The A-share market experienced significant declines in various sectors, particularly in metals and banks, with a notable focus on bank stocks as a safe haven amid volatility in precious metals prices [1][3][4]. Group 1: Market Performance - On February 2, A-share non-ferrous metals led the decline with a drop of 7.62%, while steel, chemicals, coal, and oil and gas sectors also fell over 5% [1]. - The Shanghai Composite Index closed down 2.48%, with over 4,600 stocks declining and a trading volume of approximately 2.61 trillion yuan, a decrease of nearly 250 billion yuan from the previous trading day [3][4]. - The banking sector showed resilience, with certain banks like Citic Bank and Shanghai Bank posting gains of 2.64% and 1.62%, respectively, amidst the overall market downturn [4]. Group 2: Bank Sector Analysis - The banking sector has seen a significant correction, with the China Securities Bank Index dropping 6.76% as of January 30, with major banks like Pudong Development Bank and Agricultural Bank of China experiencing declines of 19.29% and 12.5%, respectively [4][5]. - Analysts believe that the peak of fund outflows from the banking sector has passed, with the sector's valuation becoming more attractive, as the median price-to-book (PB) ratio is around 0.57 and the median dividend yield has risen to over 4.5% [5][6]. - Recent reports indicate that passive fund outflows have been a major factor in the banking sector's recent adjustments, but the selling pressure is expected to diminish, allowing for potential recovery in bank stock prices [6][7]. Group 3: Institutional Insights - Institutions are starting to show interest in bank stocks, with reports indicating that active funds had reduced their holdings in bank stocks by 1.3 billion shares by the end of the fourth quarter [7]. - Several regional banks have announced stock buyback plans, which have been positively received by the market, reinforcing confidence in the banking sector's fundamentals [7].

Group 1 - The banking sector experienced a decline of 0.53% on February 3, with CITIC Bank leading the drop [1] - The Shanghai Composite Index closed at 4067.74, up 1.29%, while the Shenzhen Component Index closed at 14127.1, up 2.19% [1] - Individual stock performance in the banking sector showed mixed results, with Industrial Bank slightly up by 0.11% and CITIC Bank down by 2.03% [1] Group 2 - The banking sector saw a net outflow of 288 million yuan from institutional investors, while retail investors contributed a net inflow of 353 million yuan [2] - Specific stock flows indicated that Industrial Bank had a net inflow of 20.39 million yuan from institutional investors, while CITIC Bank had a net outflow of 29.66 million yuan [2] - Retail investors showed significant interest in several banks, with Minsheng Bank receiving a net inflow of 51.32 million yuan [2]

每经记者｜李玉雯 每经编辑｜陈旭 据中央纪委国家监委网站2月2日披露，中信银行上海审计中心总经理姜雨林涉嫌严重违纪违法，主动投 案。 同日，中国农业发展银行湖南省分行原党委书记、行长吴晓轮涉嫌严重违纪违法，正接受审查调查。 近年来金融反腐持续深化。据《每日经济新闻》记者梳理，仅2026年开年一个月以来，包括姜雨林和吴 晓轮在内，已有多名中央一级金融单位干部接受审查调查或受到党纪政务处分。 封面图片来源：每经资料图 公开信息显示，姜雨林出生于1968年6月，现年57岁。他曾在浙江的银行系统工作多年，职业生涯中大 部分时光都在中信银行度过，历任中信银行杭州分行会计部会计管理科副科长、零售业务部开发管理科 科长、营业部公司业务四处处长兼零售业务处处长，中信银行杭州分行解放支行行长、天水支行行长， 中信银行杭州分行行长助理，中信银行杭州分行副行长兼分行营业部总经理，中信银行公司银行部总经 理等职务。 2016年4月，姜雨林加入浙商银行并被聘任为副行长，其任职资格在当年7月获得监管核准。 另据媒体报道，两年多后，姜雨林在2018年底重回中信银行，担任福州分行行长，直至2025年底调任中 信银行上海审计中心总经理。 中信 ...

行 业 研 究 银行 2026 年 02 月 03 日 投资评级：看好（维持） 行业走势图 数据来源：聚源 -10% 0% 10% 19% 29% 2025-02 2025-06 2025-10 银行 沪深300 相关研究报告 《2026 年初银行存贷形势更新与展望 —行业深度报告》-2026.1.26 《规模高增&收益承压，"存款+基金" 成配置主线—理财登 2025 年报解读》 《企业信贷超季节性增长，信贷投放 前置趋势或延续 —行业点评报告》 -2026.1.16 2026 年净息差展望：筑底企稳 ——行业深度报告 刘呈祥（分析师） 朱晓云（分析师） liuchengxiang@kysec.cn 证书编号：S0790523060002 zhuxiaoyun@kysec.cn 证书编号：S0790524070010 理论估算 1.4%净息差支撑 6%左右的 RWA 增速 据我们测算，银行若保持 RWA 6%-7%的增速，理论净息差大约在 1.44%-1.57% 是底线水平，2025Q3 商业银行净息差为 1.42%，意味着银行资产扩张面临内生 资本补充的现实硬约束，"稳息差"仍然是 2026 年银行核心经 ...

Core Viewpoint - The banking industry is focusing on supporting the real economy through strategic transformation and risk management, with several banks reporting improved performance for 2025, indicating a shift towards high-quality development [1][2][3]. Group 1: Performance of Listed Banks - Multiple A-share listed banks, including China Merchants Bank, CITIC Bank, and Industrial Bank, have reported significant increases in both operating income and net profit for 2025, demonstrating a recovery in profitability [2]. - CITIC Bank and Pudong Development Bank have both entered the "10 trillion yuan club," with total assets of 10.13 trillion yuan and 10.08 trillion yuan respectively, marking growth rates of 6.28% and 6.55% year-on-year [2]. - The overall trend for joint-stock banks in 2025 is characterized by stable growth, optimized structure, risk control, and improved efficiency, showcasing strong resilience against economic cycles [2]. Group 2: Strategic Focus on Real Economy - The banking sector is shifting from "scale expansion" to "high-quality development," emphasizing targeted support for key areas and weak links in the economy [3]. - Major state-owned banks have outlined systematic plans to enhance their service to the real economy, aligning their strategies with national priorities and focusing on specific sectors such as agriculture and global expansion [4]. Group 3: Digital Transformation and Innovation - Digital transformation is identified as a key support for enhancing the effectiveness of banks in serving the real economy, with banks like Bank of Communications and Postal Savings Bank implementing AI and other digital strategies [5]. - The banking industry is increasingly focusing on technology finance, with significant growth in loans to technology enterprises, such as a 23.44% increase in technology finance loans at Hangzhou Bank [6][7]. Group 4: Support for Key Sectors - Banks are concentrating their resources on critical areas such as expanding domestic demand, technological innovation, and green development, with a focus on providing tailored financial solutions for small and micro enterprises [6][7]. - The emphasis on regional development and industrial upgrades is evident, with banks enhancing their service layouts to support local economies and specific industries, such as manufacturing [7]. Group 5: Future Outlook - The banking industry is expected to continue optimizing financial resource allocation and enhancing support for key sectors, while also deepening financial innovation and improving service precision [8]. - Collaboration among different types of banks is crucial for effectively serving the real economy, with large state-owned banks leading the way and smaller banks focusing on local needs [8].

2月2日，A股遭遇重挫，午后跌幅进一步扩大，沪指、创业板指均跌逾2%。市场呈现普跌格局，4652只个股收跌，有色、煤炭、石油、化工等资源类板 块成为下跌"重灾区"，科技板块亦集体走弱，仅白酒、银行等少数板块逆势护盘。 今日盘面板块大面积下挫，仅白酒饮料、输变电设备、特高压、银行等少数板块逆市护盘。相比之下，小金属概念、稀缺资源、黄金概念、化工原料、汽 车芯片、钢铁等板块跌幅居前。 | 东财概念指数 | | | | | 东财行业指数 | | | A股市场核心指数 | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 跨境支付 0.41% | | 超级品牌 0.55% | | | | | | 国证1000 -2.72% | | 沪深300 -2.13% | | | | | | | 银行 0.57% | | | 饮料 1.67% | | | | | | 小金属概念 | 白酒 | 智能电网 | | | | | | 中证A100 -2.68% | 深证成指 | FIFFSO -2.07% | | | -7. ...

Market Overview - A-shares experienced a significant decline on February 2, with the Shanghai Composite Index and ChiNext Index both dropping over 2% [2][4] - The market showed a broad-based decline, with 4,652 stocks closing lower, particularly in resource sectors such as metals, coal, oil, and chemicals [4][9] - The trading volume decreased significantly, with daily turnover dropping by 255.8 billion to 2.61 trillion [5] Sector Performance - Resource stocks were heavily impacted, with declines exceeding 5% in sectors like non-ferrous metals, steel, basic chemicals, coal, and oil [8][9] - The food and beverage sector, particularly liquor stocks, showed resilience, with several companies like Jinhuijiu and Youyou Food hitting the daily limit [6][7] - Banking stocks also performed relatively well, with several banks showing slight gains despite the overall market downturn [8] Market Sentiment and Factors - The decline was attributed to a combination of external market disturbances, profit-taking, and heightened risk aversion ahead of the holiday [3][11] - Analysts suggest that the market may need 3 to 5 trading days to stabilize, with a focus on whether the Shanghai Composite can hold above the 4,000-point mark [3][15] - The current market environment is characterized as a healthy technical correction rather than a trend reversal, with no signs of panic selling or liquidity crisis [12][14] Investment Strategy - Investors are advised to avoid high-volatility sectors in the short term and to wait for clear signs of market stabilization before gradually increasing positions in quality sectors [3][16] - There is a recommendation to focus on defensive sectors such as electric grid equipment and high-dividend blue chips, while avoiding emotional selling [15][17] - The market is expected to recover quickly post-holiday, supported by liquidity replenishment and policy expectations from the upcoming Two Sessions [15][17]

【导读】中信银行上海审计中心总经理姜雨林接受纪律审查和监察调查 公开信息显示，姜雨林出生于1968年6月，毕业于浙江金融职业学院。 姜雨林曾在中信银行工作多年，曾任中信银行杭州分行会计部会计管理科副科长、零售业务部开发管理科科长、营业部公司业务四处处长兼零售业务处处 长，中信银行杭州分行解放支行行长、天水支行行长，中信银行杭州分行行长助理，中信银行杭州分行副行长兼分行营业部总经理，中信银行公司银行部 总经理等职务。 2016年7月，姜雨林出任浙商银行副行长，2018年10月即因个人原因辞职。此后，姜雨林出任中信银行福州分行党委书记、行长。在中信银行福州分行任 职期间，姜雨林曾当选福建省银行业协会第七届理事会理事、第八届理事会副会长。2025年底，姜雨林调任中信银行上海审计中心总经理。 值得一提的是，上月姜雨林已传出"失联"消息，直至此次官方通报证实。 近年来，中信银行反腐持续深入，此前已有财富管理部原副总经理袁东宁、资产管理业务中心原副总裁罗金辉等人被查。另外，2025年9月，中信银行国 际业务部总经理张琳亦传出"失联"消息，后续动向尚未公布。 又有股份行干部任上被查！ 2月2日，中央纪委国家监委官网通报：中 ...

【导读】中信银行上海审计中心总经理姜雨林接受纪律审查和监察调查 中国基金报记者 晨曦 又有股份行干部任上被查！ 2月2日，中央纪委国家监委官网通报：中信银行上海审计中心总经理姜雨林涉嫌严重违纪违法，主动投案，目前正接受中央纪委国家监委驻中信集团纪检 监察组纪律审查和浙江省监察委员会监察调查。 公开信息显示，姜雨林出生于1968年6月，毕业于浙江金融职业学院。 姜雨林曾在中信银行工作多年，曾任中信银行杭州分行会计部会计管理科副科长、零售业务部开发管理科科长、营业部公司业务四处处长兼零售业务处处 长，中信银行杭州分行解放支行行长、天水支行行长，中信银行杭州分行行长助理，中信银行杭州分行副行长兼分行营业部总经理，中信银行公司银行部 总经理等职务。 2016年7月，姜雨林出任浙商银行副行长，2018年10月即因个人原因辞职。此后，姜雨林出任中信银行福州分行党委书记、行长。在中信银行福州分行任 职期间，姜雨林曾当选福建省银行业协会第七届理事会理事、第八届理事会副会长。2025年底，姜雨林调任中信银行上海审计中心总经理。 值得一提的是，上月姜雨林已传出"失联"消息，直至此次官方通报证实。 近年来，中信银行反腐持续深入，此 ...

中信银行上海审计中心总经理姜雨林涉嫌严重违纪违法，主动投案，目前正接受中央纪委国家监委驻中 信集团纪检监察组纪律审查和浙江省监察委员会监察调查。 （文章来源：中央纪委国家监委网站） ...