Core Viewpoint - Hualing Steel has shown a significant stock price increase of 36.98% year-to-date, with a recent rise of 2.01% in intraday trading, indicating positive market sentiment despite some fluctuations in the past 60 days [1]. Group 1: Stock Performance - As of December 18, Hualing Steel's stock price reached 5.59 CNY per share, with a market capitalization of 38.619 billion CNY [1]. - The stock has experienced a 6.88% increase over the last five trading days, but a decline of 4.61% over the past 20 days and 13.06% over the last 60 days [1]. Group 2: Financial Performance - For the period from January to September 2025, Hualing Steel reported operating revenue of 94.598 billion CNY, a year-on-year decrease of 14.96%, while net profit attributable to shareholders increased by 41.72% to 2.510 billion CNY [2]. - Cumulative cash dividends since the A-share listing amount to 10.436 billion CNY, with 3.934 billion CNY distributed over the last three years [3]. Group 3: Shareholder Information - As of September 30, 2025, the number of shareholders decreased by 6.78% to 84,200, while the average number of circulating shares per person increased by 7.27% to 82,063 shares [2]. - The top ten circulating shareholders include Hong Kong Central Clearing Limited, which increased its holdings by 23.41 million shares to 157 million shares [3].

文 | 银行螺丝钉 （转载请注明出处） 相对来说，价值策略这几年在A股的效 果，比美股市场更明显。 A股价值指数最有代表性的是300价值和 中证红利。 我们以300价值指数为例。如果加上分 红，从2004年底，到2024年12月底收 盘，300价值全收益指数，从1000点涨 到了9147点，大约上涨915%。 · 低市盈率、低市净率策略,对应的是价 值指数。例如300价值、中证价值等。 后来，还演化出很多其他的、类似价值 策略的品种: ·低波动指数。之前螺丝钉还介绍过一本 《低风险高回报》，这本书是专门介绍 低波动策略。 · 自由现金流指数。2025年首次诞生, 主要挑选现金流率比较高的股票。 还有一些小众的、但也带有价值策略， 例如中金优选300等等。 300价值是从沪深300中挑选低估值的股 票，并定期调整。对比同期的沪深300， 从1000点涨到了5643点。 中证红利全收益指数，跟300价值全收 益，是同一时间起步，收益比300价值全 收益略高，也是有效的。 也就是说，价值、红利等策略，虽然都 是诞生于美股,但仅就最近10年来说, 其在A股的有效性反而超过了在美股的有 效性。 不过，不管是中证红利还是 ...

Core Viewpoint - China Ping An's stock performance shows a slight decline of 0.03% with a trading volume of 2.991 billion yuan and a market capitalization of 1,132.271 billion yuan [1] Group 1: Dividend and Shareholder Information - The dividend yields for China Ping An over the past three years were 5.15%, 6.03%, and 4.84% [2] - The top ten circulating shareholders include Central Huijin Asset Management Co., Ltd. and China Securities Finance Corporation [2] - Since its A-share listing, China Ping An has distributed a total of 391.904 billion yuan in dividends, with 134.54 billion yuan distributed in the last three years [7] Group 2: Financial Performance - For the period from January to September 2025, China Ping An reported a revenue of 832.94 billion yuan, reflecting a year-on-year growth of 7.42%, and a net profit attributable to shareholders of 132.856 billion yuan, up 11.47% year-on-year [6] Group 3: Business Overview - China Ping An, established on March 21, 1988, and listed on March 1, 2007, is headquartered in Shenzhen, Guangdong Province, and offers a diverse range of financial services including insurance, banking, securities, and trust [6] - The company's revenue composition includes life and health insurance (45.76%), property insurance (34.46%), banking (13.87%), asset management (5.27%), and financial empowerment (3.85%) [6] Group 4: Market Activity and Technical Analysis - The stock has seen a net outflow of 411 million yuan today, with a continuous reduction in main funds over the past three days [3][4] - The average trading cost of the stock is 53.01 yuan, with recent accumulation activity noted, although the strength of this accumulation is weak [5] - The stock price is approaching a resistance level of 63.80 yuan, indicating potential for a pullback unless this level is breached [5]

Core Viewpoint - China Ping An's stock performance shows a slight increase of 0.16% with a trading volume of 28.09 billion yuan and a market capitalization of 1,132.633 billion yuan [1] Dividend Analysis - The dividend yields for China Ping An over the past three years are 5.15%, 6.03%, and 4.84% respectively [2] - The top ten circulating shareholders include Central Huijin Asset Management Co., Ltd. and China Securities Finance Corporation [2] - The company owns Fintech subsidiary OneConnect, providing electronic banking, account services, credit reporting, loans, and interbank transactions to small and medium-sized banks [2] - China Ping An has stakes in several unicorn companies, including Lufax, Ping An Good Doctor, and a health insurance company, with Lufax valued at 39.4 billion USD as of March 2019 [2] Fund Flow Analysis - Today's main capital net inflow is -1.08 million yuan, accounting for 0.05%, with a ranking of 5 out of 5 in the industry, indicating a reduction in main capital positions for two consecutive days [3] - The industry has seen a net inflow of -58.263 million yuan, with a reduction in main capital positions for three consecutive days [3] Technical Analysis - The average trading cost of the stock is 52.96 yuan, with recent accumulation activity noted, although the strength of accumulation is weak [5] - The current stock price is near a resistance level of 63.80 yuan, suggesting caution against potential pullbacks unless the resistance is broken, which could lead to an upward trend [5] Company Overview - China Ping An Insurance (Group) Co., Ltd. is headquartered in Shenzhen, Guangdong, and was established on March 21, 1988, with its listing date on March 1, 2007 [6] - The company offers diversified financial services centered around insurance, including banking, securities, and trust services, with revenue breakdowns of 45.76% from life and health insurance, 34.46% from property insurance, 13.87% from banking, 5.27% from asset management, and 3.85% from financial empowerment [6] - As of September 30, 2025, the company reported a revenue of 832.94 billion yuan, a year-on-year increase of 7.42%, and a net profit attributable to shareholders of 132.856 billion yuan, a year-on-year increase of 11.47% [6] Dividend Distribution - Since its A-share listing, China Ping An has distributed a total of 391.904 billion yuan in dividends, with 134.54 billion yuan distributed over the past three years [7] - As of September 30, 2025, the sixth largest circulating shareholder is Hong Kong Central Clearing Limited, holding 456 million shares, a decrease of 182 million shares from the previous period [7]

资料显示，重庆银行股份有限公司位于香港铜锣湾希慎道33号利园1期19楼1918室，成立日期1996年9月 2日，上市日期2021年2月5日，公司主营业务涉及重庆银行股份有限公司主要在中国从事提供公司及个 人银行产品和服务以及资金市场业务。该公司通过三个业务部门运营。公司银行业务部从事向公司类客 户提供金融产品和服务业务,包括存款和贷款。零售业务部从事向个人客户提供金融产品和服务业务,包 括存款和贷款。资金业务部从事同行拆借、债券投资交易、回购交易以及外汇买卖交易业务。主营业务 收入构成为：公司银行业务75.09%，个人银行业务16.94%，资金业务7.72%，未分配0.25%。 重庆银行所属申万行业为：银行-城商行Ⅱ-城商行Ⅲ。所属概念板块包括：低市盈率、破净股、长期破 净、乡村振兴、H股等。 来源：新浪证券-红岸工作室 12月9日，重庆银行盘中上涨2.03%，截至10:53，报11.08元/股，成交5650.88万元，换手率0.27%，总市 值384.98亿元。 资金流向方面，主力资金净流入400.36万元，大单买入896.03万元，占比15.86%，卖出495.66万元，占 比8.77%。 重庆银行今年以 ...

截至9月30日，重庆银行股东户数3.63万，较上期增加6.17%；人均流通股53243股，较上期减少6.01%。 2025年1月-9月，重庆银行实现营业收入0.00元；归母净利润48.79亿元，同比增长10.19%。 来源：新浪证券-红岸工作室 分红方面，重庆银行A股上市后累计派现68.80亿元。近三年，累计派现42.29亿元。 12月5日，重庆银行盘中下跌2.02%，截至10:13，报11.18元/股，成交3041.34万元，换手率0.14%，总市 值388.46亿元。 资料显示，重庆银行股份有限公司位于香港铜锣湾希慎道33号利园1期19楼1918室，成立日期1996年9月 2日，上市日期2021年2月5日，公司主营业务涉及重庆银行股份有限公司主要在中国从事提供公司及个 人银行产品和服务以及资金市场业务。该公司通过三个业务部门运营。公司银行业务部从事向公司类客 户提供金融产品和服务业务,包括存款和贷款。零售业务部从事向个人客户提供金融产品和服务业务,包 括存款和贷款。资金业务部从事同行拆借、债券投资交易、回购交易以及外汇买卖交易业务。主营业务 收入构成为：公司银行业务75.09%，个人银行业务16.94%， ...

来源：新浪证券-红岸工作室 12月4日，重庆银行盘中下跌2.07%，截至09:43，报11.35元/股，成交1562.53万元，换手率0.07%，总市 值394.37亿元。 资金流向方面，主力资金净流出47.89万元，大单买入101.69万元，占比6.51%，卖出149.58万元，占比 9.57%。 资料显示，重庆银行股份有限公司位于香港铜锣湾希慎道33号利园1期19楼1918室，成立日期1996年9月 2日，上市日期2021年2月5日，公司主营业务涉及重庆银行股份有限公司主要在中国从事提供公司及个 人银行产品和服务以及资金市场业务。该公司通过三个业务部门运营。公司银行业务部从事向公司类客 户提供金融产品和服务业务,包括存款和贷款。零售业务部从事向个人客户提供金融产品和服务业务,包 括存款和贷款。资金业务部从事同行拆借、债券投资交易、回购交易以及外汇买卖交易业务。主营业务 收入构成为：公司银行业务75.09%，个人银行业务16.94%，资金业务7.72%，未分配0.25%。 重庆银行所属申万行业为：银行-城商行Ⅱ-城商行Ⅲ。所属概念板块包括：低市盈率、乡村振兴、破净 股、长期破净、中盘等。 截至9月30日，重 ...

Group 1 - The core viewpoint of the news is that Bank of Communications experienced a decline in stock price and trading volume, with a current price of 7.49 CNY per share and a market capitalization of 661.845 billion CNY [1] - As of December 3, the stock price has increased by 1.34% year-to-date, but has decreased by 2.22% over the last five trading days [1] - The main business segments of Bank of Communications include corporate finance (48.43%), personal finance (37.17%), and funding business (13.94%) [1] Group 2 - As of September 30, the number of shareholders increased by 21.95% to 320,800, while the average circulating shares per person decreased by 19.86% to 89,152 shares [2] - For the first nine months of 2025, Bank of Communications reported a net profit of 69.994 billion CNY, reflecting a year-on-year growth of 1.90% [2] - The company has distributed a total of 337.762 billion CNY in dividends since its A-share listing, with 83.694 billion CNY distributed over the last three years [2]

Core Viewpoint - Jiangsu Jinzu's stock price has shown a year-to-date increase of 29.49%, with a recent slight decline of 0.16% over the past five trading days, indicating a mixed performance in the short term [2]. Group 1: Stock Performance - As of December 3, Jiangsu Jinzu's stock price rose by 2.07% to 6.41 CNY per share, with a trading volume of 1.06 billion CNY and a turnover rate of 0.29%, resulting in a total market capitalization of 371.26 billion CNY [1]. - The stock has experienced a 3.05% increase over the past 20 days and a 13.65% increase over the past 60 days [2]. Group 2: Financial Performance - For the period from January to September 2025, Jiangsu Jinzu reported an operating income of 0.00 CNY, while the net profit attributable to shareholders was 24.46 billion CNY, reflecting a year-on-year growth of 9.82% [2]. - The company has distributed a total of 76.37 billion CNY in dividends since its A-share listing, with 40.23 billion CNY distributed over the past three years [3]. Group 3: Shareholder Information - As of September 30, 2025, Jiangsu Jinzu had 59,000 shareholders, an increase of 10.98% from the previous period, with an average of 98,106 circulating shares per shareholder, a decrease of 9.88% [2]. - Among the top ten circulating shareholders, Huatai-PB SSE Dividend ETF holds 73.57 million shares, an increase of 4.08 million shares from the previous period, while other significant shareholders have seen varying changes in their holdings [3].

来源：新浪证券-红岸工作室 12月3日，重庆银行盘中上涨2.01%，截至10:24，报11.68元/股，成交5153.09万元，换手率0.24%，总市 值405.83亿元。 资料显示，重庆银行股份有限公司位于香港铜锣湾希慎道33号利园1期19楼1918室，成立日期1996年9月 2日，上市日期2021年2月5日，公司主营业务涉及重庆银行股份有限公司主要在中国从事提供公司及个 人银行产品和服务以及资金市场业务。该公司通过三个业务部门运营。公司银行业务部从事向公司类客 户提供金融产品和服务业务,包括存款和贷款。零售业务部从事向个人客户提供金融产品和服务业务,包 括存款和贷款。资金业务部从事同行拆借、债券投资交易、回购交易以及外汇买卖交易业务。主营业务 收入构成为：公司银行业务75.09%，个人银行业务16.94%，资金业务7.72%，未分配0.25%。 重庆银行所属申万行业为：银行-城商行Ⅱ-城商行Ⅲ。所属概念板块包括：低市盈率、乡村振兴、破净 股、长期破净、中盘等。 截至9月30日，重庆银行股东户数3.63万，较上期增加6.17%；人均流通股53243股，较上期减少6.01%。 2025年1月-9月，重庆银行实 ...