Group 1 - The core viewpoint of the reports emphasizes the continued recommendation of the banking sector, highlighting its stability and sustainability post "reciprocal tariffs" [1] - Two main investment themes in the banking sector are identified: regional advantages with strong certainty in city and rural commercial banks, and high dividend stability in large banks and joint-stock banks [1] - In Q2 2025, there was a return to dividend and risk-averse market styles, leading to inflows into the banking sector from various funds [1] Group 2 - Active funds saw an increase in allocation to the banking sector, with a rise of 1.77 percentage points to 5.78%, driven mainly by changes in positions [2] - The top five banks receiving inflows from active funds were 招行 (+0.32%), 江苏 (+0.23%), 杭州 (+0.19%), 兴业 (+0.17%), and 渝农 (+0.11%) [2] - Significant net inflows into banks such as 招行, 杭州, 南京, 兴业, and 民生 were recorded, with amounts of 27.51, 16.79, 12.52, 12.36, and 9.31 million respectively [2] Group 3 - Passive funds experienced an increase in both the market value of bank stocks held and their proportion of the total market value of the banking sector [3] - By the end of Q2 2025, the total market value of bank stocks held by passive funds reached 2283.96 billion, a 25.22% increase from the end of Q1 [3] - Major banks like 兴业 and 招行 saw significant net inflows from passive funds, with inflows of 76.52 and 55.54 million respectively [3] Group 4 - Northbound funds continued to increase their holdings in the banking sector, with a total market value of 2541.68 billion by the end of Q2 2025, reflecting an 11.69% increase from Q1 [3] - The proportion of bank stocks held by northbound funds reached 8.92% of the free float market value, up 0.6 percentage points from the previous quarter [3] - Major inflows from northbound funds were noted for 平安银行 and 中国银行, with inflows of 19.6 and 15.8 million respectively [3]