历史首次！农业银行登顶A股

Core Viewpoint - Agricultural Bank of China (ABC) has reached a historic high in stock price and market capitalization, becoming the largest in terms of circulating market value in A-shares, surpassing Industrial and Commercial Bank of China (ICBC) for the first time [1][2] Group 1: Stock Performance - On August 6, ABC's stock closed at 6.62 CNY per share, marking a 1.22% increase and a total market capitalization of 2.11 trillion CNY [1] - Year-to-date, ABC's A-share price has increased by 29.8%, ranking third among 42 listed banks, and first among the six major state-owned banks [2] - The total market capitalization of ABC is 2.26 trillion CNY, while ICBC remains the leader with a combined A and H share market value of 2.57 trillion CNY [2] Group 2: Institutional Investment - Insurance funds have been actively purchasing bank stocks, with at least five banks, including ABC's H shares, being targeted for significant investments [1] - Public funds have increased their holdings in ABC, with a notable rise of 7.44 million shares by the end of Q2, bringing the total market value of their holdings to 6.097 billion CNY [1][3] - By the end of Q2, 93 public fund companies held a total of 10.37 billion shares of ABC, representing 0.32% of its circulating shares [3] Group 3: Dividend Trends - The total cash dividends distributed by 42 A-share listed banks for the 2024 fiscal year reached 632.59 billion CNY, an increase of nearly 20 billion CNY from the previous year [3] - ABC's cash dividend for 2024 is projected at 84.66 billion CNY, ranking third among listed banks [3] Group 4: Market Sentiment and Future Outlook - The banking sector has benefited from a surge in investment interest, particularly from long-term funds, leading to increased stock prices [2][4] - Public funds have shown a clear upward trend in their allocation to bank stocks, with a significant increase in the proportion of active public funds invested in the sector [5] - Analysts predict that the banking sector will experience substantial improvements in performance starting in the second half of 2025, driven by favorable fiscal and monetary policies [6]