NJBK(SH:601009) Di Yi Cai Jing·2025-06-10 13:28Core Viewpoint - The banking sector continues to show resilience and strength, with many bank stocks reaching new highs despite broader market adjustments, driven by high dividend yields and institutional investment interest [1][2][4]. Group 1: Bank Stock Performance - On June 10, bank stocks performed strongly, with the China Securities Bank Index reaching a high of 7916.59 points before closing up 0.49% [1][2]. - A total of 39 out of 42 bank stocks rose, with notable gains from Minsheng Bank and Zheshang Bank, which increased by 2.83% and 2.14%, respectively [2]. - The banking sector has shown a year-to-date performance ranking among the top four industries, with 21 bank stocks rising over 10% and 7 over 20% [2]. Group 2: Dividend Strategies - The median dividend yield for banks remains attractive at over 4%, with many banks announcing earlier dividend distributions compared to previous years [3]. - As of now, 17 banks have announced their year-end dividend plans, with 12 already implemented [3]. - The traditional dividend distribution period in June and July is expected to have a stable overall performance, with historical data showing positive absolute and relative returns during this period [3][4]. Group 3: Convertible Bonds - The rise in bank stock prices has led to an acceleration in the exit of bank convertible bonds from the market, with Nanjing Bank's convertible bond triggering mandatory redemption conditions [1][6]. - Nanjing Bank's convertible bond, with a total amount of 20 billion yuan, has seen its conversion rate increase from approximately 47.6% to over 75% [8]. - The overall market for bank convertible bonds is expected to shrink significantly, with predictions indicating a reduction from 1.7 billion yuan to around 1 billion yuan due to several bonds triggering early redemption [8].