Market Performance - The city commercial bank sector increased by 0.25% compared to the previous trading day, with Xiamen Bank leading the gains [1] - The Shanghai Composite Index closed at 4165.29, up 1.09%, while the Shenzhen Component Index closed at 14366.91, up 1.75% [1] Individual Bank Performance - Xiamen Bank (601187) closed at 7.29, up 2.39% with a trading volume of 221,600 shares and a transaction value of 160 million yuan [1] - Shanghai Bank (601229) closed at 10.07, up 1.61% with a trading volume of 847,800 shares and a transaction value of 848 million yuan [1] - Jiangsu Bank (616009) closed at 10.50, up 0.96% with a trading volume of 1,310,700 shares and a transaction value of 1.366 billion yuan [1] - Other banks such as Xi'an Bank, Zhengzhou Bank, and Beijing Bank also showed minor increases in their stock prices [1] Capital Flow Analysis - The city commercial bank sector experienced a net outflow of 61.41 million yuan from institutional investors, while retail investors saw a net inflow of 66.54 million yuan [2] - The individual capital flow for Jiangsu Bank showed a net inflow of 47.88 million yuan from institutional investors, while retail investors had a net outflow of 51.39 million yuan [3] - Xiamen Bank had a net inflow of 17.18 million yuan from institutional investors, but retail investors experienced a net outflow of 8.30 million yuan [3]

Core Viewpoint - Shenzhen Expressway Company Limited (00548) aims to enhance the efficiency of fund utilization while ensuring the safety of raised funds and compliance with investment plans through cash management of temporarily idle raised funds [1] Group 1 - The company has subscribed to a structured deposit product worth RMB 1 billion in a dedicated cash management account at Jiangsu Bank Co., Ltd. Shenzhen Technology Branch [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本聯合公告的內容概不負責，對其準 確性或完整性亦不發表任何聲明，並明確表示，概不對因本聯合公告全部或任何部份內容而產 生或因倚賴該等內容而引致的任何損失承擔任何責任。 ( 於百慕達註冊成立之有限公司 ) (股份代號：00152) 須予披露的交易 ( 於中華人民共和國註冊成立的股份有限公司 ) (股份代號：00548) 自願性公告 聯合公告 深高速認購兩項結構性存款產品 認購兩項結構性存款產品 深 圳 國 際 及 深 高 速 (深圳國際擁有約 47.30%權 益 的 附 屬 公 司 )各自的 董事會宣佈，深高速於 2026 年 1 月 9 日認購了本金為人民幣 5 億元 的結構性存款產品(第一期)，並於 2026 年 1 月 12 日進一步認購了本 金為人民幣 5 億元的結構性存款產品(第二期)。 上市規則涵義 由 於 深 高 速 認 購 的 兩 項 結 構 性 存 款 產 品 均 由 同 一 家 銀 行 發 行 且 於 12 個月內完成，故此，根據上市規則第 14.22 條及 14.23(1)條，認購兩 項結構性存款產品的交易須合併計算。 對於深高速而言，認購 ...

Investment Rating - The investment rating for the banking sector is "Positive" and is maintained [12]. Core Insights - In the first week of 2026, the banking sector continued to adjust, with a cumulative decline of 1.9% in the banking index, significantly underperforming the CSI 300 and ChiNext indices by -4.7% and -5.8% respectively. Despite this, the fundamental expectations for the sector remain unchanged, and the market's risk appetite has notably increased [2][6][19]. - The main banks are expected to maintain stable growth in performance throughout 2026. Following recent adjustments, the PB-ROE valuation attractiveness of bank stocks has further increased, suggesting a favorable timing for allocation [2][6][19]. Summary by Sections Market Performance - The banking sector's performance in the first week of 2026 showed a cumulative decline of 1.9%, with significant negative excess returns compared to the CSI 300 and ChiNext indices [6][19]. - Individual stocks such as Chongqing Rural Commercial Bank saw price recovery after management uncertainties were resolved, while stable performers like Hangzhou Bank led the city commercial bank sector [2][6][19]. Fundamental Analysis - The banking sector's performance has been influenced by structural concerns, particularly regarding real estate and retail asset quality. Despite these concerns, overall performance remains stable with steady growth [8][37]. - The LTV (Loan-to-Value) ratios for major banks are stable at 40%-50%, providing a safety margin despite rising asset quality pressures in mortgage loans [8][37]. Trading Dynamics - The increase in market risk appetite has continued to suppress bank stock valuations. Historically, January has seen excess returns for bank stocks, but this year, the rapid recovery in market sentiment has led to underperformance [9][38]. - The report recommends focusing on high-quality city commercial banks such as Hangzhou Bank, Nanjing Bank, and Jiangsu Bank, as well as dividend-oriented assets like Bank of Communications and China Merchants Bank [9][38]. Convertible Bonds - The prices of convertible bonds linked to bank stocks have generally followed the sector's adjustment, with the distance to mandatory conversion prices widening. The report highlights potential trading opportunities in convertible bonds for banks like Changshu Bank and Shanghai Bank, which have stable fundamental performance expectations [7][32].

本期，课题组重点关注理财公司发行的"固收+"产品，从代销渠道为投资者筛选出表现较优的在售产品。 为提供有效的选品参考，榜单展示了产品近一月、近三月及近六月的年化业绩，并按照近三月年化收益率进行排序，以此反映 其在近期市场波动中的多维度收益表现。 统计代销机构（28家）：工商银行、中国银行、农业银行、邮储银行（601658）、建设银行、交通银行、招商银行、中信银 行、光大银行、民生银行、兴业银行、浦发银行、广发银行、浙商银行（601916）、华夏银行、平安银行、恒丰银行、渤海银 行、北京银行、宁波银行、江苏银行（600919）、上海银行（601229）、南京银行、杭州银行（600926）、徽商银行、微众银 行、网商银行、百信银行。 需要特别提醒的是：本榜单对理财产品"在售"状态的判断基于其投资周期推算。但实际情况中，部分产品可能因额度售罄，或 银行针对不同客户展示的产品清单存在差异而无法购买。因此，建议投资者以代销银行APP的实际展示为准。 | ਲਿ 름 | 代销机构 | 产品名称 | 发行机构 | Harris 周期 | | 年化收益率 | | | --- | --- | --- | --- | --- | ...

大成基金管理有限公司已于2026年1月8日在规定媒介和基金管理人网站 （www.dcfund.com.cn）发布了 《大成基金管理有限公司关于以通讯方式召开大成惠嘉一年定期开放债券型证券投资基金基金份额持有 人大会的公告》。为了使本次基金份额持有人大会顺利召开，现发布《大成基金管理有限公司关于以通 讯方式召开大成惠嘉一年定期开放债券型证券投资基金基金份额持有人大会的第二次提示性公告》。 一、会议基本情况 根据《中华人民共和国证券投资基金法》（以下简称"《基金法》"）、《公开募集证券投资基金运作管 理办法》的有关规定和《大成惠嘉一年定期开放债券型证券投资基金基金合同》（以下简称"《基金合 同》"）的约定，大成惠嘉一年定期开放债券型证券投资基金（以下简称"本基金"）的基金管理人大成 基金管理有限公司（以下简称"本基金管理人"）经与本基金的基金托管人江苏银行股份有限公司协商一 致，决定以通讯方式召开本基金的基金份额持有人大会，会议具体安排如下： 1、会议召开方式：通讯方式 2、会议投票表决起止时间：2026年1月13日起，至2026年2月8日17:00止（以本公告列明的公证机关指 定的表决票收件人收到纸质表决票的时 ...

项目牵头人、江苏省金融学会会长周诚君在会上介绍，该项目作为我国首个面向银行关键基础设施抗量 子迁移的国家级重点研发计划，已在核心理论、技术攻关、标准规范与开放合作层面取得重大成果。周 诚君表示，量子科技与金融安全的深度融合，是涉及技术迭代、标准重构、产业升级、生态程序的系统 性工程。下一步将加速成果转化，推动核心算法、设备标准化产品化进程；深化协同创新，构建"产学 研用金"融合新生态；从而为筑牢金融"新基建"安全底座、构建"产学研用金"融合新生态和服务国家金 融安全全局贡献力量。 西交利物浦大学副校长丁忆民表示，西交利物浦大学始终认为高校在国家科技创新体系中不仅要追求学 术前沿，更要回应国家所需、行业所急。西交利物浦大学依托后量子迁移交叉实验室推动多学科协同研 究与金融场景的深度融合，致力于将科研成果转化为可落地、可推广的安全解决方案 。 会上，建设银行、中信银行和江苏银行作为首批"试水者"，在会上展示了相关应用验证成果。来自中国 科学院、中国电子科技集团的专家组对项目成果进行了研讨，认为该技术在格密码安全性分析领域具备 国际领先水平，为金融基础设施应对量子计算挑战提供了技术储备。 转自：南京晨报 晨报讯（南 ...

Investment Rating - The industry rating is maintained at "Overweight" [10][37] Core Insights - The central bank's 2026 work meeting emphasized a stable interest margin expectation, indicating a shift in focus from reducing financing costs to maintaining them at low levels [7][34] - The meeting highlighted the importance of enhancing financial services for high-quality economic development, directing funds towards key areas such as technological innovation and small and medium enterprises [7][34] - The credit market is showing signs of stabilization, with a shift from quantity to quality in credit issuance, and a reduction in the pace of loan rate declines [8][34] Summary by Sections Market Review - The banking index fell by 1.90%, underperforming the CSI 300 index by 4.69 percentage points [12] - The performance of various banking sectors showed declines, with large banks down by 2.94% and regional banks performing relatively better [12] Monetary Policy - The central bank's monetary policy will remain moderately accommodative, focusing on both counter-cyclical and cross-cyclical adjustments [7][34] - The emphasis will be on stabilizing corporate financing cost expectations and preventing significant interest rate fluctuations [7][34] Investment Recommendations - The report suggests focusing on state-owned banks with stable asset deployment and regional banks with growth potential, recommending specific banks such as ICBC, Bank of China, and others [10][37]

Group 1 - The "Jiangsu Flavor" winter food event and "I am the Chef" series are actively taking place across thirteen cities in Jiangsu, with Jiangsu Bank as the exclusive title sponsor, promoting winter food consumption through financial empowerment and resource integration [1][2] - Jiangsu Bank has created an immersive consumer experience area at food markets, offering consumer vouchers and exclusive discounts in collaboration with local restaurants, enhancing the overall dining experience for citizens [1][2] - The "I am the Chef" regional competition features various themes and city participation, showcasing chefs' skills and creativity, while Jiangsu Bank has launched a mobile banking section for the event, engaging over 60,000 customers with food gift boxes and discount coupons [2] Group 2 - Jiangsu Bank aims to provide smarter and more considerate financial services at city events, focusing on consumer needs and integrating financial services into various aspects of daily life to support high-quality economic development in the province [3]

Group 1 - Several banks, including Jiangsu Bank, Agricultural Bank, Construction Bank, and Nanjing Bank, have launched asset enhancement activities to encourage customers to increase their bank assets [1] - Jiangsu Bank announced that customers who increase their average monthly assets in the first three months of the year compared to the end of the previous year will receive related rewards [1] - The trend of banks initiating asset enhancement programs indicates a competitive environment in the banking sector aimed at attracting and retaining customers [1]