Core Viewpoint - The article highlights that Agricultural Bank of China (ABC) has surpassed Industrial and Commercial Bank of China (ICBC) in total market capitalization for the first time, reaching a market value of 2.55 trillion yuan compared to ICBC's 2.49 trillion yuan, although ICBC remains the leader in key financial metrics [3]. Market Capitalization - As of September 4, 2025, the total market capitalization of the banking sector in A-shares reached 11.31 trillion yuan, surpassing the electronics sector to reclaim the top position in A-shares [1]. - ABC's A-shares market capitalization is approximately 2.62 trillion yuan, while ICBC's A-shares market capitalization stands at 2.69 trillion yuan, indicating a competitive landscape in market valuation [3][4]. Financial Performance - In terms of total assets, ICBC leads with 52.32 trillion yuan, while ABC follows with 46.86 trillion yuan [3]. - For the first half of 2025, ICBC reported revenue of 4090.82 billion yuan and net profit of 1681.03 billion yuan, both ranking first in the industry, while ABC reported revenue of 3697.93 billion yuan and net profit of 1395.10 billion yuan, ranking third [3]. Growth Resilience - ABC is noted as the only major bank to achieve simultaneous growth in both revenue (+0.7%) and net profit (+2.66%) in the first half of 2025, while ICBC experienced a slight decline in net profit (-1.4%) despite a revenue increase of 1.8% [4]. - ABC's county-level loans have exceeded 10 trillion yuan, reaching 10.77 trillion yuan, which accounts for 40.9% of domestic loans, showcasing its strategic focus on county markets [4]. Valuation Levels - As of September 4, 2025, the price-to-book ratio for ICBC is approximately 0.72, while for ABC it is around 0.98, indicating differing market perceptions of their valuations [4].

Core Points - A-shares have seen a significant rally, with the Shanghai Composite Index surpassing 3800 points for the first time in 10 years, closing at 3825.76 points on August 22 [2] - The total market capitalization of all listed companies in A-shares reached approximately 116 trillion yuan, with the Shanghai and Shenzhen markets accounting for 61.41 trillion yuan and 40.48 trillion yuan respectively [2][17] - There are currently 13 companies in A-shares with a market capitalization exceeding 1 trillion yuan, including major state-owned banks and industry leaders [3][4] Market Capitalization Changes - The top three companies by market capitalization are all state-owned banks: Industrial and Commercial Bank of China (ICBC) at 2.72 trillion yuan, Agricultural Bank of China at 2.55 trillion yuan, and China Construction Bank at 2.41 trillion yuan [4][14] - Compared to the end of 2016, the top three market cap positions have been dominated by state-owned banks, with ICBC maintaining its position as the "king of market value" [10][13] - Notable changes in the market cap rankings include the decline of companies like Sinopec and Bank of Communications, which have fallen out of the top ten [13] Year-to-Date Market Capitalization Growth - As of August 23, the number of companies with a market cap exceeding 1 trillion yuan has increased from 10 at the beginning of the year to 13, with new entrants including Ping An Insurance, China Merchants Bank, and BYD [6] - A total of 22 stocks have seen their market capitalization increase by over 100 billion yuan since the beginning of the year, with notable performers including Industrial Fulian and Cambricon Technologies [7] Significant Market Movers - The largest market cap increases year-to-date have been observed in stocks like Shuangwei New Materials, which saw a staggering increase of 1161% [8] - Other significant gainers include *ST Songfa and *ST Yushun, with increases of 1019% and 738% respectively [9] Industry Trends - The banking, electronics, and non-bank financial sectors are the top three industries with the highest number of companies exceeding 1 billion yuan in market capitalization [5][15] - The electronics industry has experienced a remarkable growth of over 460% in market capitalization over the past decade, reflecting the shift in economic structure and technological advancements [15][16] Overall Market Growth - The A-share market has expanded significantly over the past decade, with the number of listed companies increasing from 3052 to 5434 and total market capitalization rising from 55.66 trillion yuan to 116.37 trillion yuan [17]

Core Points - A-shares have seen a significant rally, with the Shanghai Composite Index surpassing 3800 points for the first time in ten years, closing at 3825.76 points on August 22 [1] - The total market capitalization of all listed companies in A-shares reached approximately 116 trillion yuan, with the Shanghai and Shenzhen markets accounting for 61.41 trillion yuan and 40.48 trillion yuan respectively [1][13] - The number of companies with a market capitalization exceeding 1 trillion yuan has increased to 13, with major state-owned banks dominating the top positions [2][4] Market Capitalization Changes - As of August 23, 2023, the top three companies by market capitalization are Industrial and Commercial Bank of China (ICBC) at 2.72 trillion yuan, Agricultural Bank of China at 2.55 trillion yuan, and China Construction Bank at 2.41 trillion yuan [2][10] - The total market capitalization of A-shares has increased significantly compared to the beginning of the year, with three new entrants joining the trillion-yuan club: Ping An Insurance, China Merchants Bank, and BYD [4][10] - The market capitalization of ICBC has grown by 73% over the past ten years, while Agricultural Bank of China has seen a 154% increase [10][11] Industry Trends - The banking sector remains the largest in terms of market capitalization, followed by the electronics and non-bank financial sectors, with total market capitalizations of 15.8 trillion yuan, 12.14 trillion yuan, and 8.36 trillion yuan respectively [11][12] - The electronics industry has experienced a remarkable growth of over 460% in market capitalization over the past decade, reflecting the shift towards technology and innovation [11] - The real estate sector has seen a decline in market capitalization, dropping from 2.63 trillion yuan in 2016 to 1.2 trillion yuan currently [11] Historical Comparison - A comparison of the top market capitalization companies from the end of 2016 to now shows that all top three positions are held by state-owned banks, with ICBC maintaining its position as the market leader [7][9] - Companies like Sinopec and Bank of Communications have fallen out of the top ten, while new industry leaders such as Kweichow Moutai and Contemporary Amperex Technology Co. (CATL) have emerged [9][10] - The total number of A-share companies has increased from 3052 in 2016 to 5434 in 2023, with total market capitalization rising from 55.66 trillion yuan to 116.37 trillion yuan [13]

Core Viewpoint - The market capitalization of the electronic sector in A-shares has reached a historical high of 11.54 trillion yuan, surpassing the banking sector and becoming the largest industry in the market [1] Group 1: Market Capitalization - The electronic sector's A-share market capitalization is 11.54 trillion yuan, marking a new historical high [1] - The leading company in the electronic sector is Industrial Fulian, with a market capitalization of 910.16 billion yuan [1] - Cambricon ranks second with a market capitalization of 520.09 billion yuan, followed by Haiguang Information with 432.47 billion yuan [1] Group 2: Industry Comparison - The electronic industry has surpassed the banking industry in terms of market capitalization, now holding the top position [1]

8月18日，A股延续上行趋势，一片涨声中创出纪录——A股市值总和（A股最新价×A股总股本，下同）首次突破100万亿元大关。 截至当天收盘，上证指数报收3728.03点，涨0.85%，创10年新高；深成指报收11835.57点，涨1.73%；创业板指报收2606.2点，涨2.84%，超 4000只个股飘红。A股全天成交额超2.8万亿元，为历史第三高。 在A股市值突破百万亿元背后，哪些个股在"悄悄"洗牌刷新纪录？截至18日收盘，A股市值TOP10分别是农业银行（2.21万亿元）、工商银 行（2.03万亿元）、贵州茅台（1.79万亿元）、中国石油（1.39万亿元）、中国银行（1.3万亿元）、宁德时代（1.25万亿元）、招商银行 （8975.65亿元）、中国人寿（8937.46亿元）、工业富联（8829.52亿元）、长江电力（6763.02万亿元）。 银行是今年乃至近3年A股的明星板块，近期整体涨幅有所回调。在此轮行情中，有两个重要的标志性事件：一是银行板块成为A股首个市 值突破10万亿元的板块；二是农业银行A股市值超过工商银行，登顶A股"市值之王"并维持至今。（详见报道《农行登顶A股"市值之王"背 后：大行AH股分 ...

Group 1 - A-shares continue to rise, with the Shanghai Composite Index reaching a new high [1] - The total market capitalization of A-share companies has surpassed 100 trillion yuan, marking a historical milestone [1] - Agricultural Bank of China ranks first in A-share market capitalization at 2.19 trillion yuan, followed by Industrial and Commercial Bank of China at 2.02 trillion yuan [1] Group 2 - Other notable companies with market capitalizations exceeding 1 trillion yuan include Kweichow Moutai, China Petroleum, Bank of China, and CATL [1]

Core Viewpoint - The article highlights the significant rise of Agricultural Bank of China (ABC) as it surpasses Industrial and Commercial Bank of China (ICBC) to become the largest market capitalization bank in A-shares, marking a notable shift in the banking sector dynamics [2][5][6]. Market Performance - On August 6, A-shares recorded a three-day rise with over 3,300 stocks increasing in value, while the margin trading balance exceeded 2 trillion yuan for the first time in 10 years [2]. - As of the close on August 6, ABC's A-share market capitalization reached 2.11 trillion yuan, surpassing ICBC's 2.09 trillion yuan, a historic first [2][4]. - The top three A-share market capitalizations are now ABC, ICBC, and Kweichow Moutai, compared to the beginning of the year when the order was Kweichow Moutai, ICBC, and ABC [2]. Stock Performance - ABC's A-share price increased by 29.54% year-to-date, ranking third among 42 listed banks, while ICBC's price rose by 16.85% [7][8]. - Over the past year, ABC's stock has surged by approximately 49%, leading among major banks, with significant increases of 106% and 172% over the past two and three years, respectively [8]. Market Capitalization Changes - The total market capitalization of the banking sector in A-shares has surpassed 10 trillion yuan for the first time in the first half of the year, with ABC's market capitalization increasing by 4.086 billion yuan since the beginning of the year [6][9]. - The total market capitalization of state-owned banks has increased by approximately 1.6 trillion yuan since the beginning of the year, with ABC and China Construction Bank showing the largest increases [15]. Financial Performance - In Q1, ABC reported a revenue growth of 2.56%, while other major banks experienced negative growth, indicating its strong performance amidst a challenging environment [9]. - The asset scale of the six major banks has exceeded 200 trillion yuan, with ABC's non-performing loan ratio decreasing by 0.02 percentage points [10]. A-H Share Distribution - The article discusses the distribution of A and H shares among major banks, noting that ABC has the highest proportion of A shares at approximately 91%, while CCB has the lowest at about 8% [12][14]. - The A-share market capitalization of ABC is significantly influenced by its high A-share proportion compared to other banks, which have a larger portion of their shares listed in Hong Kong [14]. Future Outlook - Analysts suggest that the sustainability of the banking sector's performance will depend on several indicators, including the banks reaching a price-to-book ratio of 1 and the allocation of public funds to banks [15].

Core Insights - Agricultural Bank of China (ABC) has reached the top position in A-share market capitalization for the first time, surpassing Industrial and Commercial Bank of China (ICBC) [1] - As of August 6, ABC's A-share market capitalization is 2.11 trillion yuan, while ICBC's is 2.09 trillion yuan [1] - The top three A-share market capitalizations are now ABC, ICBC, and Kweichow Moutai, whereas the beginning of the year ranking was Kweichow Moutai, ICBC, and ABC [1] Market Performance - The A-share market has seen a positive trend with over 3,300 stocks rising, and the financing balance has exceeded 2 trillion yuan for the first time in 10 years [1] - As of July 7, ABC's A-share increased by 1.51%, while ICBC's A-share rose by 0.90%, maintaining ABC's lead in market capitalization [2] Capital Structure - The distribution of A-shares and H-shares among state-owned banks varies significantly, affecting market capitalization comparisons [1] - ABC has the highest proportion of A-shares at approximately 91%, while China Construction Bank has the lowest at around 8%, which impacts their A-share market capitalization [1]