格隆汇9月4日丨农业银行A股今日大涨5.17%，单日涨幅创2023年5月以来近2年新高。目前，农业银行 总市值升至2.55万亿元，首次超越工商银行的2.49万亿元，并成为A股总市值冠军。同时，农业银行年 内总市值累计共增长7219亿元，增长规模也位居A股第一。若以A股市值统计，农业银行此前已于8月6 日超越工商银行，并稳居A股市值榜首且持续领跑至今。 ...

Group 1 - The state-owned large bank sector increased by 2.83% on September 4, with Agricultural Bank leading the gains [1] - The Shanghai Composite Index closed at 3765.88, down 1.25%, while the Shenzhen Component Index closed at 12118.7, down 2.83% [1] - Agricultural Bank's closing price was 7.52, reflecting a rise of 5.17%, with a trading volume of 9.6163 million shares and a transaction value of 702.3 million yuan [1] Group 2 - The net inflow of main funds in the state-owned large bank sector was 2.367 billion yuan, while retail investors experienced a net outflow of 1.419 billion yuan [1] - Agricultural Bank had a net inflow of 1.47 billion yuan from main funds, accounting for 20.93% of its total, while retail investors had a net outflow of 797.1 million yuan [2] - Industrial and Commercial Bank saw a net inflow of 277 million yuan from main funds, with a net outflow of 24.7 million yuan from retail investors [2]

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年8月31日 狀態: 新提交 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01288 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 30,738,823,096 | RMB | | 1 | RMB | | 30,738,823,096 | | 增加 / 減少 (-) | | | | 0 | | | RMB | | 0 | | 本月底結存 | | | 30,738,823,096 | RMB | | 1 | RMB | | 30,738,823,096 | 第 1 頁 共 11 頁 v 1.1.1 FF301 致：香港交易及結算所有限公司 公司名稱: 中國農業 ...

（文章来源：21世纪经济报道） 业绩层面，国有四大行2025年半年报已悉数亮相，农行实现营业收入3699亿元，同比增长0.85%；归母 净利润1395亿元，同比增长2.66%，为四大行中唯一保持利润正增长的银行。反观工行，虽营收规模 4271亿元仍居首位，但归母净利润1681亿元，同比下滑1.39%，增速落后农行逾4个百分点。 股价涨幅更直观反映市场态度。截至9月4日，农业银行年内股价涨幅达47.15%，涨幅位居银行板块榜 首，远超工商银行13.54%的涨幅。 9月4日，银行板块探底回升，截至收盘，农业银行（601288.SH，01288.HK）A股涨超5%再创历史新 高，A+H总市值约2.55万亿元，首次反超工商银行（601398.SH，01398.HK）的2.49万亿元，成为总市 值"冠军"。这也是继8月6日农行A股流通市值登顶后，不到一个月内完成的第二次超越。 ...

Core Viewpoint - A-shares experienced a collective decline, with major indices falling significantly, while bank stocks showed resilience, particularly Agricultural Bank of China reaching a historical high [1] Group 1: Market Performance - The Shanghai Composite Index fell by 1.25% to 3765 points, the Shenzhen Component Index dropped by 2.83%, the ChiNext Index decreased by 4.25%, and the STAR 50 Index declined by 6.08% [1] - Bank stocks, including Agricultural Bank of China and Postal Savings Bank, saw gains, with Agricultural Bank rising over 5% to a new historical high [1] Group 2: ETF Performance - Bank ETFs and related funds saw increases of over 1%, with specific funds like Bank ETF and Bank ETF Fund rising by 1.04% and 1.02% respectively [3] - The Bank ETF tracks the CSI Bank Index, which includes 42 listed banks, focusing on high dividend opportunities and growth potential [4] Group 3: Financial Metrics - In the first half of 2025, listed banks reported a total operating income of 2.92 trillion yuan, a year-on-year increase of 1.0%, and a net profit attributable to shareholders of 1.10 trillion yuan, up 0.8% [4] - The net interest margin for listed banks decreased by 14 basis points year-on-year to 1.41%, with expectations of a slight narrowing in the decline due to policy changes [4] Group 4: Asset Quality and Growth - Asset quality pressure has slightly increased, with rising overdue rates and non-performing loan generation rates, particularly in the retail sector [5] - Total assets of listed banks grew by 9.6% year-on-year as of the end of Q2 2025, indicating a recovery in growth rates [5] Group 5: Future Outlook - The banking sector is expected to see a bottoming out in 2025, with potential for revenue and profit growth to turn positive in 2026, driven by policy support and improved asset quality [6] - The emphasis on long-term investment in the banking sector remains strong, with recommendations for diversified allocations focusing on banks with high dividend yields and solid asset quality [6]

Group 1 - Agricultural Bank of China (ABC) shares surged over 5%, while Postal Savings Bank rose over 3%, both reaching historical highs [1][2] - ABC's market capitalization surpassed that of Industrial and Commercial Bank of China (ICBC), marking it as the new "universe bank" [1] - The overall market liquidity improved significantly during the rally led by ABC and other banks [1] Group 2 - The banking sector experienced a strong performance, with major banks like CITIC Bank and ICBC also seeing gains of over 2% [2] - The overall market was weak, with the Shanghai Composite Index down 1.25% and the Shenzhen Component down 2.83% [4] - Despite the overall market decline, the banking stocks showed resilience and strength, indicating a potential shift in market dynamics [1][2] Group 3 - Recent reports suggest that the narrowing of interest margin and reduced non-interest disturbances could lead to improved revenue and profit growth for listed banks in the first half of 2025 [3] - The banking sector's price-to-book (PB) ratio is currently at 0.71, which is at a low level compared to historical data, indicating potential value for investors [3] Group 4 - Market volatility has increased, with significant fluctuations in stock prices and investor sentiment [6][7] - Analysts suggest that the current market downturn is primarily due to a decline in risk appetite rather than any substantial negative news [7] - The market is expected to experience a period of consolidation, similar to past patterns observed in 2014-2015, before potentially moving higher [7][8]

Core Viewpoint - Agricultural Bank of China reported a stable performance in its 2025 interim results, showing resilience in business operations despite a slight increase in revenue and profit [1] Group 1: Financial Performance - The bank's operating income reached 369.79 billion RMB, a year-on-year increase of 0.72% [1] - Net profit attributable to shareholders was 139.51 billion RMB, reflecting a year-on-year growth of 2.66% [1] - Basic earnings per share stood at 0.37 RMB [1] Group 2: Asset and Liability Management - As of the end of June, total assets amounted to 46.9 trillion RMB, an increase of 3.6 trillion RMB from the previous year [1] - Total customer loans and advances reached 26.73 trillion RMB, up by 1.82 trillion RMB [1] - Total liabilities were 43.7 trillion RMB, with customer deposits increasing by 2.6 trillion RMB [1] Group 3: Credit Quality - The non-performing loan (NPL) ratio was 1.28%, a decrease of 0.02 percentage points from the end of the previous year [1] - The overdue loan ratio remained low at 1.22%, with an overdue NPL ratio of 95.11% [1] - The provision coverage ratio was 295%, indicating a strong buffer against potential loan losses [1] Group 4: Shareholding Changes - China Ping An Life Insurance Company increased its stake in Agricultural Bank by acquiring 8.29 million shares at a price of 5.4592 HKD per share, totaling approximately 45.26 million HKD [2] - Following the acquisition, the total number of shares held by China Ping An reached approximately 4.616 billion, representing a 15.01% ownership stake [2]

"宇宙行"桂冠变更。9月4日，银行板块探底回升，盘中农业银行（601288）(601288.SH，01288.HK)A股涨超5%再创历史新高， A+H总市值约2.55万亿元，首次反超工商银行(601398.SH，01398.HK)的2.5万亿元。这也是继8月6日农行A股流通市值登顶后， 不到一个月内完成的第二次超越。 数据显示，截至14时50分，农行A股涨5.17%，报7.52元，带动总市值升至2.55万亿元；工行A股涨1.75%，报7.57元，总市值为 2.5万亿元。总股本方面，农业银行约3500亿股，其中A股占比为91%，港股占比为9%；工商银行约3564亿股，A股占比76%，港 股占比为24%。 业绩层面，国有四大行2025年半年报已悉数亮相，农行实现营业收入3699亿元，同比增长0.85%；归母净利润1395亿元，同比增 长2.66%，为四大行中唯一保持利润正增长的银行。反观工行，虽营收规模4271亿元仍居首位，但归母净利润1681亿元，同比下 滑1.39%，增速落后农行逾4个百分点。 | 证券代码 | 证券简称 | 归母净利润(亿元) | | 净利增速 | 所属行业 | | --- | --- | ...

Group 1 - Agricultural Bank of China reported a revenue of 369.79 billion RMB for the first half of 2025, a year-on-year increase of 0.72% [1] - The net profit attributable to shareholders was 139.51 billion RMB, reflecting a year-on-year growth of 2.66% [1] - The bank's total assets reached 46.9 trillion RMB, an increase of 3.6 trillion RMB compared to the end of the previous year [1] Group 2 - Customer loans and advances totaled 26.73 trillion RMB, up by 1.82 trillion RMB from the end of the previous year, indicating strong financing supply [1] - The total liabilities amounted to 43.7 trillion RMB, with customer deposits increasing by 2.6 trillion RMB [1] - The non-performing loan ratio was 1.28%, a decrease of 0.02 percentage points from the end of the previous year, indicating improved asset quality [1] Group 3 - China Ping An Life Insurance Company increased its stake in Agricultural Bank of China by acquiring 8.29 million shares at a price of 5.4592 HKD per share, totaling approximately 45.26 million HKD [2] - Following the acquisition, Ping An's total shareholding in the bank reached approximately 4.616 billion shares, representing a 15.01% ownership stake [2]

| 编辑：黄梅 | | --- | 校对：王玥 中国基金报 晨曦 9月4日下午，农业银行股价直线走高，盘中最高达到7.52元/股，涨幅达5.59%。 股价飙涨之际，农业银行总市值也超越工商银行，成为总市值"冠军"。 巅峰对话 投资热点说 ETF风向标 IPO情报站 0 f= ® m CHINAFUND CHINAFUND CHINAFUND CHINAFUND 全球早班车 数说人物 开盘速道 港股目报 � V a 8 CHINAFUND CHINAFUND CHINAFUND CHINAFUND 微信搜一搜( Q 中国基金报 ) 即刻获取财经资讯 制作：舰长 审核：陈墨 tels we no as 点击下载中国基金报客户端 ■ 中国基金报内容矩阵 ■ ...