AGRICULTURAL BANK OF CHINA(SH:601288) 天天基金网·2025-11-12 05:30Core Viewpoint - The article discusses the recent performance of Agricultural Bank of China, highlighting its stock price increase and market capitalization, as well as the broader market trends in the banking and pharmaceutical sectors [3][5][10]. Group 1: Agricultural Bank Performance - Agricultural Bank of China has experienced a 14-day consecutive rise in stock price, with its price-to-book (PB) ratio recovering to above 1 for the first time, breaking the long-standing trend of state-owned banks trading below book value [3][8]. - The stock price increased by 3.13% on the latest trading day, reaching a total market capitalization of 3 trillion yuan, making it the largest in A-shares [3][5]. - The bank's PB ratio stands at 1.09, while other major banks like Industrial and Commercial Bank of China and China Construction Bank have PB ratios of 0.773 and 0.737, respectively [8]. Group 2: Key Highlights of Agricultural Bank - The bank benefits from the potential release of county-level economic growth and has a deeper layout in these regions, providing greater credit growth space compared to peers [8][9]. - Agricultural Bank has the highest proportion of personal demand deposits among its peers, resulting in lower deposit costs and stronger interest margin resilience [8]. - The bank maintains the lowest non-performing loan ratio compared to its peers while adhering to strict non-performing loan recognition standards [9]. - High provisions strengthen the bank's risk absorption capacity and profit reinvestment ability, leading the industry [10]. Group 3: Market Trends - The banking sector is entering a seasonal uptrend, with historical data indicating a 70% probability of absolute returns from November to December and an 80% probability in January of the following year [10]. - The pharmaceutical sector has shown strong performance, with significant gains in stocks related to medical commerce and brain-computer interface technologies [11][12]. - The brain-computer interface market is projected to grow significantly, with estimates suggesting a market size of approximately $26.2 billion in 2024, reaching $124 billion by 2034 [16][17].