Core Viewpoint - Postal Savings Bank of China (PSBC) has shown a positive stock performance with an 11.11% increase year-to-date and a 2.03% rise on August 7, 2023, indicating strong market interest and potential growth opportunities [2][1]. Financial Performance - As of March 31, 2025, PSBC reported a net profit of 252.46 billion yuan, a year-on-year decrease of 2.62% [3]. - The bank's cumulative cash distribution since its A-share listing amounts to 1,377.96 billion yuan, with 773.95 billion yuan distributed over the last three years [4]. Shareholder Information - The number of shareholders increased to 182,900, up by 18.57% compared to the previous period, while the average circulating shares per person decreased by 15.87% to 371,749 shares [3]. - Major shareholders include Hong Kong Central Clearing Limited, holding 882 million shares, and various ETFs, which have seen a reduction in their holdings [4]. Business Segmentation - PSBC's main business segments include personal banking (69.57% of revenue), corporate banking (19.70%), and funding operations (10.65%) [2]. - The bank provides a range of services including loans, deposits, and asset management, catering to both individual and corporate clients [2]. Market Activity - On August 7, 2023, PSBC's stock price reached 6.02 yuan per share with a trading volume of 7.82 billion yuan and a turnover rate of 0.20% [1]. - The stock saw a net inflow of 50.04 million yuan from major funds, indicating strong investor interest [1].

Market Performance - The northbound heavy positions outperformed the fund heavy positions, with a weekly return of 1.73% compared to 1.60% for the fund heavy index[10] - The overall market showed a slight acceleration in industry and style rotation[4] Sector Highlights - The healthcare sector led with a weekly increase of 3.63%, outperforming the overall A-share market by 2.42%[19] - The financial sector also performed well, with a weekly gain of 1.99%, exceeding the A-share benchmark by 0.77%[19] Investment Style - Low valuation stocks showed the highest gains, with the low valuation index rising by 3.23%[23] - Large-cap and low-volatility stocks dominated the performance, indicating a preference for stability in the current market environment[21] Thematic Trends - The Low Carbon Leaders 30 index was the top performer among themes, with a weekly increase of over 3%[25] - The carbon neutrality series also showed positive returns, with the Longjiang Carbon Neutral Index rising by 2.16%[25]

丨证券研究报告丨 战略数据研究丨专题报告 [Table_Title] 金融板块涨幅居前，低估值领涨风格——W114 市场观察 报告要点 [Table_Summary] 当周基金重仓 50 相对占优；市场动速方面，风格轮动速度显著下滑；行业板块方面，金融板块 涨幅居前，金融红利相对行业基准有小幅超额；风格方面，超大盘、低估值占优，PB-ROE 表 现不俗；主题方面，REITs 系列、数字货币涨幅靠前。 分析师及联系人 [Table_Author] 陈洁敏 SAC：S0490518120005 SFC：BUT348 请阅读最后评级说明和重要声明 %% %% %% %% research.95579.com 1 丨证券研究报告丨 cjzqdt11111 [Table_Title 金融板块涨幅居前，低估值领涨风格—— 2] W114 市场观察 战略数据研究丨专题报告 [Table_Summary2] 机构赚钱效应：基金重仓 50 相对占优 市场动速：风格轮动速度显著下滑 行业板块：金融板块涨幅居前，金融红利相对行业基准有小幅超额 风格跟踪：超大盘、低估值占优，PB-ROE 表现不俗 主题热点：REITs 系列、数字货 ...