Core Viewpoint - Ping An Asset Management Co., Ltd. has increased its stake in Agricultural Bank of China (stock code: 01288) by acquiring 44.05 million shares at a price of HKD 5.4892 per share, totaling approximately HKD 242 million, resulting in a new holding of about 7.69 billion shares, which represents 25.01% of the bank's total shares [1] Summary by Category - **Investment Activity** - Ping An Asset Management has purchased an additional 44.05 million shares of Agricultural Bank of China [1] - The acquisition price was set at HKD 5.4892 per share, leading to a total investment of around HKD 242 million [1] - **Shareholding Structure** - Following this transaction, Ping An's total shareholding in Agricultural Bank of China has reached approximately 7.69 billion shares [1] - The new shareholding percentage stands at 25.01% of the bank's total shares [1]

编者按：2025年，经济观察报以"我们的四分之一世纪"为年终特刊主题，旨在通过数十位时代亲历者的 故事，共绘一幅属于这段岁月的集体记忆图谱。 2005年，中国经济正处于"十五"计划收官的平稳增长期。这一年，陈昌柱研究生毕业后，加入中国农业 银行（下称"农行"）深圳市分行，2025年正好从业满20年，经历了从柜员、客户经理等基础业务岗位， 到部门经理、网点行长等基层管理岗，再到一级支行管理岗的成长过程，从业经历与中国经济发展和银 行业转型同频共振。 陈昌柱生于1981年，从一线信贷、综合等业务逐步转向中后台的信贷审查、统筹管理岗位，见证了2008 年金融危机、4万亿刺激政策、新旧动能转换，以及整个房地产行业的发展和调整。 陈昌柱对经济观察报记者表示，回望过去25年，信贷资源曾大量流向房地产、基础设施建设和传统制造 业，这在特定时期内拉动了经济增长，但也在一定程度上放大了产能过剩和债务风险。如今，伴随高质 量发展理念的深入推进，信贷政策的重点转向了"两新一重"（新型基础设施、新型城镇化，交通水利等 重大工程）、战略性新兴产业、科技创新和小微企业。这种结构上的调整，正是国家推动经济转型升级 的重要导向，而银行的核心 ...

Group 1 - The core point of the article is that Agricultural Bank of China has obtained a patent for a method and device for estimating storage capacity in a database, with the patent granted under announcement number CN114579575B and the application date being March 2022 [1] - Agricultural Bank of China was established in 1986 and is located in Beijing, primarily engaged in monetary financial services [1] - The registered capital of Agricultural Bank of China is approximately 34.998 billion RMB [1] Group 2 - According to data analysis from Tianyancha, Agricultural Bank of China has invested in 16 enterprises and participated in 5,000 bidding projects [1] - The bank holds 1,308 trademark registrations and 5,000 patent records, along with 119 administrative licenses [1]

Core Viewpoint - The article highlights the compassionate service provided by Agricultural Bank of China staff to an elderly customer, showcasing the bank's commitment to customer care and accessibility for individuals with mobility challenges [1] Group 1: Customer Service - The bank staff, including the lobby manager and internal branch manager, promptly assisted the elderly customer, demonstrating a proactive approach to customer needs [1] - A wheelchair was provided to facilitate the customer's movement within the bank, indicating the bank's efforts to create an inclusive environment [1] - The staff exhibited patience and attentiveness during the transaction, ensuring that the elderly customer felt comfortable and supported throughout the process [1] Group 2: Community Engagement - The bank's actions reflect a broader commitment to community service, particularly towards vulnerable populations such as the elderly [1] - The establishment of a "green channel" for elderly customers signifies the bank's dedication to improving service efficiency and accessibility [1] - The positive emotional response from the customer illustrates the impact of thoughtful service on customer satisfaction and loyalty [1]

Group 1 - The core viewpoint of the news is that the state-owned large bank sector experienced a rise of 0.62% on December 23, with Agricultural Bank leading the gains [1] - On the same day, the Shanghai Composite Index closed at 3919.98, up 0.07%, while the Shenzhen Component Index closed at 13368.99, up 0.27% [1] - The net inflow of main funds into the state-owned large bank sector was 114 million yuan, while retail funds saw a net inflow of 6.48481 million yuan [2] Group 2 - The main funds in the state-owned large bank sector had a net outflow of 179 million yuan from speculative funds [2] - Detailed fund flow data for individual stocks in the state-owned large bank sector is available in the accompanying table [2]

天眼查资料显示，中国农业银行股份有限公司，成立于1986年，位于北京市，是一家以从事货币金融服 务为主的企业。企业注册资本34998303.3873万人民币。通过天眼查大数据分析，中国农业银行股份有 限公司共对外投资了16家企业，参与招投标项目5000次，财产线索方面有商标信息1308条，专利信息 5000条，此外企业还拥有行政许可119个。 来源：市场资讯 国家知识产权局信息显示，中国农业银行股份有限公司取得一项名为"一种视频传输方法、装置、设备 及存储介质"的专利，授权公告号CN115643255B，申请日期为2022年10月。 声明：市场有风险，投资需谨慎。本文为AI基于第三方数据生成，仅供参考，不构成个人投资建议。 ...

Core Insights - The apple industry in Shaanxi is a key driver for local economic development, supported by comprehensive financial services from Agricultural Bank of China Shaanxi Branch [1][2] - The bank has established a financial support system covering all aspects of the apple industry, with innovative loan products tailored to various stakeholders [1][5] Financial Support and Products - Agricultural Bank of China Shaanxi Branch has launched a series of loan products such as "Fruit Farmer Loan," "Leading Enterprise Loan," and "Fruit Storage Loan," achieving a loan balance of 86 billion yuan for the "Golden Spike Shaanxi Fruit Loan" by November 2025 [1] - The apple industry loan balance reached 66 billion yuan, with 34 billion yuan disbursed in the current year, indicating significant financial support effectiveness [1] Regional Focus and Growth - In 2024, the total apple planting area in Yan'an City reached 3.335 million acres, producing over 5 million tons, making it the largest apple planting area among Chinese prefecture-level cities [2] - Agricultural Bank of China Yan'an Branch reported an apple industry loan balance of 5.2 billion yuan, with a net increase of 3 billion yuan over the past three years [2] Support for Farmers - Farmers are crucial to the apple industry's development, with financial products like "Huinong e-loan" providing low-interest, high-amount loans to support their operational needs [4] - The bank has optimized loan approval processes and offers on-site services to ensure financial support reaches farmers effectively [4] Corporate Engagement - The bank focuses on connecting with leading enterprises and cooperatives, offering tailored financial solutions to address their specific needs, such as a 3 million yuan credit for a company facing seasonal funding shortages [5] - The bank's support extends to enhancing the operational capabilities of enterprises, facilitating exports, and addressing storage expansion needs [5] Industry Transformation and Upgrading - The bank is actively supporting the transformation of the apple industry towards high-end, intelligent, and branded development, with increased financial backing for new varieties and technologies [7] - Initiatives include funding for modern agricultural practices and the establishment of financial service teams to provide direct support to farmers and enterprises [7] Commitment to Rural Development - Agricultural Bank of China Shaanxi Branch aims to continue enhancing credit investments and innovating financial products to further empower the apple industry and contribute to rural revitalization [7]

Core Viewpoint - Major Chinese banks, including Bank of China, China Construction Bank, Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of Communications, and Postal Savings Bank, have collectively adjusted their deposit products, particularly reducing the availability of medium to long-term deposit offerings as year-end savings demand increases [1][3]. Group 1: Changes in Deposit Products - Many customers, such as a resident in Beijing, have reported difficulties in finding suitable 5-year large-denomination certificates of deposit (CDs) as these products are no longer displayed by major banks [3]. - The interest rates for 3-year related products have dropped to between 1.5% and 1.75% across various banks [3]. - Smaller banks are also following suit, with institutions like Meizhou Commercial Bank and Yilian Bank removing 5-year fixed deposit products from their offerings [5]. Group 2: Reasons for Adjustments - The withdrawal of long-term deposit products is a response to the ongoing decline in banks' net interest margins, driven by falling loan rates that have significantly reduced asset yields [5]. - Analysts suggest that banks are compelled to eliminate high-interest long-term products to avoid severe interest margin losses or potential deficits, which could threaten their long-term stability and pose systemic risks [5]. Group 3: Implications for the Banking Sector - The adjustments in deposit products are expected to enhance the certainty of banks' profit forecasts, providing fundamental support for valuation recovery, particularly for large banks with low-cost liabilities and high dividend yields [6]. - The reduction in deposit rates may lead to a "deposit migration" effect, where funds seeking higher returns move from the banking system to capital markets, potentially benefiting direct financing markets [6].

Core Viewpoint - The recent decrease in medium to long-term deposit products in the market is attributed to banks' responses to the ongoing decline in net interest margins, leading to a reduction in the availability of five-year large certificates of deposit (CDs) and lower interest rates on three-year products [3][5][6]. Group 1: Market Trends - There is a noticeable reduction in the availability of five-year large CDs among major banks, with interest rates for three-year products dropping to between 1.5% and 1.75% [3]. - Smaller banks are also adjusting their deposit offerings, with some, like Meizhou Commercial Bank, announcing the removal of five-year fixed deposit products [5]. - The trend of withdrawing long-term deposit products is not limited to national banks but is also seen in local and private banks [5]. Group 2: Banking Sector Implications - The withdrawal of long-term deposit products is a necessary response to the challenges posed by declining bank net interest margins, as banks face significant risks of interest margin losses if they do not eliminate high-interest long-term products [5]. - Analysts suggest that this shift will enhance the certainty of banks' profit expectations, particularly benefiting large banks with low-cost liabilities and high dividend yields, making them more attractive to long-term investors [6]. - The reduction in deposit rates may lead to a "deposit migration" effect, where funds move from the banking system to capital markets, potentially increasing liquidity in stocks, bonds, and funds, which could positively impact direct financing markets [6].

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2.13亿元，游资资金净流入4914.45万元，散 户资金净流入1.64亿元。国有大型银行板块个股资金流向见下表： 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成投资建议。 证券之星消息，12月22日国有大型银行板块较上一交易日上涨0.28%，农业银行领涨。当日上证指数报 收于3917.36，上涨0.69%。深证成指报收于13332.73，上涨1.47%。国有大型银行板块个股涨跌见下 表： ...