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历史首次!农业银行登顶A股
证券时报·2025-08-06 15:03

Core Viewpoint - Agricultural Bank of China (ABC) has reached a historic high in stock price and market capitalization, becoming the largest circulating market value in A-shares, surpassing Industrial and Commercial Bank of China (ICBC) for the first time [1][2]. Market Performance - As of August 6, ABC's stock price closed at 6.62 CNY per share, with a circulating market value of 2.11 trillion CNY, while ICBC's circulating market value was 2.09 trillion CNY [1]. - ABC's A-share cumulative increase this year is 29.8%, ranking third among 42 listed banks, and first among the six major state-owned banks [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 total of 93 public fund companies holding 10.37 billion shares by the end of Q2, representing a 0.32% share of circulating stocks, an increase of 7.44 million shares from Q1 [4]. Dividend Distribution - 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 [4]. Stock Trends - The banking sector has benefited from high dividend investment interest, with a notable increase in institutional investments [5]. - As of August 6, 14 A-share bank stocks have increased by over 20% this year, with several H-share bank stocks showing even higher gains [5]. Future Outlook - Research institutions remain optimistic about the banking sector, with expectations of improved fundamentals and revenue growth starting in 2026 [8]. - UBS forecasts that banks with dividend yields exceeding 4.2% for H-shares and 4.0% for A-shares are attractive investments [8].