记者丨叶静 编辑丨曾芳 根据同花顺统计，截至1月6日，A股上市银行2025年度报告预约披露时间均出炉，平安银行将成为最早 披露年报的上市银行，预约披露时间为3月21日，这已经是平安银行连续第二年率先披露年报了。 同一日披露年报的还有中信银行。去年银行板块上涨12.05%，虽然表现不如2024年，但42家银行的总 市值突破15万亿元大关，较2024年12月31日收盘时的总市值增加约2.1万亿元。对于2026年的银行行 情，多数机构依然表示看好。 国有大行三月末扎堆披露业绩 继平安银行、中信银行之后，紧接着是渝农商行，该行预约于3月26日披露年报；青岛银行、瑞丰银 行、兴业银行则是3月27日披露年报。厦门银行、苏农银行和江苏银行3家上市银行最晚披露年报，预约 披露时间均为4月30日。 最受关注的国有大行披露日，多是集中在3月末，其中最早的交通银行、建设银行和邮储银行，披露日 同为3月28日，紧接着3月31日，农业银行、工商银行和中国银行选择同日披露年报。 从上市银行整体年报披露节奏来看，3月31日当日有10家银行披露2025年的"成绩单"为最多的一日。进 入4月份，4月23日上市银行年报披露将迎来另一个高峰，当日 ...

Core Viewpoint - The banking sector has shown a strong performance in recent trading days, with significant increases in bank stocks and ETFs, indicating a potential shift in market sentiment towards this sector [1][3][4]. Group 1: Market Performance - The top bank ETF (512800) has seen a continuous rise, with a 1.23% increase yesterday and a further 2% increase today, achieving a total trading volume of 1.569 billion yuan [1]. - A total of 34 bank stocks have risen over 1%, with Xiamen Bank leading with nearly a 6% increase, and major banks like China Merchants Bank and Industrial and Commercial Bank of China rising nearly 3% [3]. - The bank ETF (512800) has experienced a significant net inflow of 678 million yuan, reversing a previous trend of outflows, and now has a total scale exceeding 19.4 billion yuan [6]. Group 2: Fundamental Analysis - The third-quarter reports indicate a slight decline in revenue growth for listed banks, down 0.1 percentage points to 0.9%, while net profit growth has increased by 0.7 percentage points to 1.5%, suggesting stable revenue and recovering profit growth [3]. - The narrowing decline in net interest margins is a positive sign, indicating a potential stabilization in the banking sector's fundamentals [3]. - Insurance companies have continued to increase their holdings in bank stocks, with six insurance firms entering the top ten shareholders of six listed banks in the third quarter [3]. Group 3: Investment Outlook - The banking sector is expected to attract more investment as the end-of-year dividend distribution approaches, with a historical probability of 70% for absolute returns in November and December [3]. - The current market environment, characterized by a shift in risk appetite and the stabilization of bank fundamentals, suggests that the relative returns of the banking sector in the fourth quarter are worth monitoring [4]. - The bank ETF (512800) and its associated funds are positioned as efficient investment tools for tracking the overall performance of the banking sector [4].

Group 1 - The bank ETF (512800) opened lower but rose over 1% during trading, currently up 0.82%, with a trading volume exceeding 700 million yuan, indicating active trading [1] - Qingdao Bank reported a half-year performance for 2025 with operating income of 7.662 billion yuan, a year-on-year increase of 7.50%, and a net profit attributable to shareholders of 3.065 billion yuan, up 16.05% [2][3] - Five banks, including Hangzhou Bank, Changshu Bank, Ningbo Bank, Qilu Bank, and Qingdao Bank, have released their half-year performance reports for 2025, all showing positive growth in net profit, with four banks achieving double-digit growth [3][4] Group 2 - According to Zhongtai Securities, the overall asset quality of listed banks remains stable, and the industry's profit growth is expected to continue positively, supported by a decrease in funding costs and a favorable interest margin [4] - Founder Securities noted that the banking sector is favored by investors not only for high dividends but also for their stability, with banks showing a solid performance base and attracting medium to long-term capital in a low-interest-rate environment [5] - On August 4, bank stocks collectively strengthened, with Qingdao Bank leading the gains by over 4%, and several other banks also showing significant increases [6] Group 3 - The bank ETF (512800) passively tracks the CSI Bank Index, comprising 42 listed banks, and is the largest and most liquid bank ETF in the market, with a fund size exceeding 14.4 billion yuan as of July 31 [8]

Group 1 - The banking sector experienced a sudden decline on July 22, with the bank ETF (512800) opening lower and dropping over 2% at one point, currently down 1.48% [1] - Individual bank stocks also fell, with Xiamen Bank down nearly 4%, while Xi'an Bank, Chongqing Rural Commercial Bank, and Jiangsu Rural Bank dropped over 2% [1] - Nanjing Bank and Industrial Bank showed relatively better performance, with minor declines of 0.43% and 0.71% respectively [1] Group 2 - The latest LPR announcement did not result in any changes, indicating that short-term pressure on bank interest margins is unlikely to change significantly, which may help maintain operational stability for banks [2] - Long-term, the recovery in credit demand is expected to provide more business growth opportunities for banks [2] - The banking sector, characterized by high dividend yields, is becoming increasingly attractive to long-term investors as market interest rates decline and risk appetite decreases [2] Group 3 - Following previous gains, the recent market fluctuations may reflect differing opinions on the banking sector's outlook [3] - According to a report, as long as the dividend yield of the banking sector remains above the risk-free rate, the market trend may continue [3] - The current low interest rate environment is expected to persist in the short term, providing fundamental support for banks, with the average price-to-book ratio (PB) of the banking sector around 0.7, indicating low absolute valuations [3] Group 4 - The bank ETF (512800) has seen a net inflow of 1.749 billion yuan over the past 10 days, with its latest fund size exceeding 14.076 billion yuan and an average daily trading volume of 532 million yuan, making it the largest and most liquid bank ETF in the market [3] - Investors looking for value in the banking sector may consider the bank ETF (512800) and its linked funds [5] - The bank ETF passively tracks the CSI Bank Index, which includes 42 A-share banks, serving as an efficient investment tool for tracking the overall performance of the banking sector [5]