Group 1 - The theoretical "standard allocation ratio" for A+H shares of banks is projected to reach 11.57% by the end of Q2 2025, while the actual allocation by active equity funds is only 4.5%, indicating a significant under-allocation of 7.07% [1][5] - The under-allocation has increased from 6.79% at the end of Q1 2025, suggesting that the mid-term market for banks is not yet over, as institutional investors typically raise their allocation to 8%-10% to signal the end of the mid-term trend [1][5] - The A+H bank stock ETF (517900) has seen its share increase by over 700% this year and has been officially included as a margin trading target [1] Group 2 - The actual allocation ratios for active equity funds in A+H bank stocks have shown a gradual increase from 1.81% in Q1 2023 to 4.50% in Q2 2025, while the standard allocation ratios have also risen from 8.27% to 11.57% during the same period [3][4] - The excess allocation percentage has remained negative, indicating that the actual allocation is still below the standard allocation, with figures ranging from -6.46% in Q1 2023 to -7.07% in Q2 2025 [3][4]

Group 1 - Bank stocks experienced a morning rally on August 7, with the Tianhong Bank ETF (515290) rising by 0.58% and a trading volume exceeding 36.15 million yuan [1] - Six banks have reported positive half-year performance forecasts, with five banks showing a year-on-year net profit growth of double digits [1] - The Tianhong Bank ETF closely tracks the CSI Bank Index, which consists of up to 50 bank stocks from the CSI All Share Index, reflecting the overall performance of the banking sector [1] Group 2 - Future expectations indicate that with the gradual implementation of public fund reform plans, the constraint of performance benchmarks will strengthen, leading to increased holdings in banks by active funds [2] - The current under-allocation of bank stocks is estimated to be around 5%-7%, suggesting that the mid-term market for banks is likely not over yet [2]