高股息防御策略

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A股银行:躺平收息还是搏命增长?2025年,选“乌龟”还是选“兔子”!
雪球· 2025-07-03 07:51
Core Viewpoint - The article discusses the divergent investment opportunities within the A-share banking sector, highlighting the choice between stable, high-dividend state-owned banks and high-growth regional banks [2][11]. Group 1: Overview of the Banking Sector - The banking industry is experiencing a slowdown in growth, with structural pressures leading to reduced profit margins and slower overall growth rates [3][4]. - Major banks like Industrial and Commercial Bank of China (ICBC) and Shanghai Pudong Development Bank have shown negative revenue growth over the past five years, indicating a challenging environment for traditional banking [3][4]. Group 2: Investment Strategies - For conservative investors, the recommendation is to focus on large state-owned banks, which offer stable dividends and lower risk, providing a reliable cash flow [12]. - For aggressive investors seeking total returns, the focus should be on smaller, high-growth regional banks, which present higher risks but also the potential for significant returns through earnings growth and valuation recovery [13]. - A balanced approach can be taken by combining investments in both large state-owned banks and high-growth regional banks to achieve stability and growth [14]. Group 3: Performance Metrics - Key performance metrics for major banks include: - ICBC: PB of 0.68, TTM dividend yield of 5.87%, and a 5-year profit compound growth of 3.22% [19]. - Chengdu Bank: PB of 0.98, TTM dividend yield of 3.94%, and a 5-year profit compound growth of 18.29% [19]. - Hangzhou Bank: PB of 0.85, TTM dividend yield of 4.27%, and a 5-year profit compound growth of 20.80% [19]. - The article emphasizes the importance of understanding the different growth trajectories and risk profiles of these banks when making investment decisions [18].
帮主郑重:5月13日A股午评
Sou Hu Cai Jing· 2025-05-13 07:22
再说说今儿的"失意者"——军工板块集体回调,通易航天、晨曦航空跌得挺惨。但老玩家都知道,军工股素有"深蹲起跳"的特性。这次回调主要是短期情绪 作祟,某军工企业一季度订单不及预期的消息被放大了。可咱们把眼光放远,国防预算连续多年个位数增长,无人机、航空发动机这些赛道的国产替代才刚 开始,中航沈飞、航发动力这些核心资产,回调到PE低于行业均值时,反而是布局的"黄金坑"。 有色和稀土永磁走弱,跟美联储加息预期升温有关。昨夜鲍威尔讲话释放鹰派信号,美元指数反弹压制了大宗商品价格。但咱们得区分看待:稀土作为战略 资源,国内配额管控越来越严,北方稀土、五矿稀土的长期逻辑没变,短期波动反而是检验真龙头的试金石。 先说大盘脸色。沪指早盘冲高后回落,午盘收涨0.08%像在"打太极",深成指和创业板指悄悄翻绿,典型的"高开低走磨人行情"。但您别慌,看看个股涨跌 家数,3400多只下跌看着吓人,实则是板块轮动在"洗牌"。这时候咱们中长线玩家得学狙击手,先瞄准再开枪,别被短期震荡带偏节奏。 板块表现那叫一个冰火两重天。光伏板块成了早盘"带头大哥",通威股份、欧晶科技这些票儿齐刷刷涨停,为啥?昨天盘后光伏行业出了个重磅消息,某头 部企 ...