记者丨 张欣 编辑丨周炎炎 江佩佩 2025年9月4日，银行板块A股市值达到11.31万亿元，反超电子板块，重夺A股第一。其中，农 业银行A股市值超过2.4万亿元居首，创出历史新高；工商银行A股市值超过2万亿元，位居次 席。 增长韧性：农行是六大行中唯一实现营收（+0.7%）和净利润（+2.66%）同时"双增长"的银 行，工行营收同比增加1.8%，但净利润同比微降1.4%。 估值水平：截至9月4日，工行A股市净率约0.72倍，农行约0.98倍。 尽管整体规模仍有差距，但农行近年通过聚焦县域市场寻求的差异化突破不容小觑。农行2025 年半年报数据显示，其县域贷款总量已突破并站稳10万亿元，达10.77万亿元，余额占境内贷 款比重40.9%；个人客户数达8.88亿户。 据同花顺显示，农行A+H股综合总市值达2.55万亿元人民币，历史上首次超越工行的2.49万亿 元，引发市场关注。不过，若从A股市值、总资产、营收、净利润等核心指标综合来看，工行 仍稳居行业首位，"宇宙行"地位尚未真正被撼动。 值得注意的是，综合市值超越背后是两种算法下的差异。 同花顺数据显示，综合总市值计算公式为 "Σ（各市场最新价×各市场股本×汇 ...

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].

截至7日13:45，农业银行A股涨1.51%，工商银行A股涨0.90%，农业银行A股市值仍然领先于工商银 行。 有市场人士提示，农业银行年内涨势稳定且持续，在国有大行中表现亮眼。不过，考虑到各家大行上市 总股本在A股和H股的分布比例差异较大，单纯比较A股市值的参考意义有限。Wind数据显示，目前国 有大行中A股占总股本比例最高的为农业银行（约91%），最低的为建设银行（约为8%），后者因为股 本大头在港交所，A股市值低于部分股份行甚至城商行。 【#农行登顶A股市值之王背后#：#大行A股港股分布比例差异大#】8月6日，A股三大指数录得三连 涨，全市场超3300股上涨。在市场一片大好中，有两个信号被格外关注：一是融资余额时隔10年再度突 破2万亿元；二是农业银行（601288.SH）首次登顶A股市值之最，工商银行（601398.SH）"让位"。 截至当日收盘，农业银行A股总市值为2.11万亿元，超过工商银行的2.09万亿元，这在历史上是首次。 目前，A股市值前三排位是：农业银行、工商银行、贵州茅台（600519.SH）；今年年初这一排位是： 贵州茅台、工商银行、农业银行。但从总市值来看，工商银行仍以2.57万亿元 ...