国海证券指出，政策发力化债，降低银行风险；提振内需措施或将出台，资本监管高级方法落地后银行ROE有望提升。我们认为银行估值有进一步提升的空间，维持银行行业“推荐”评级。DRCB (09889) surged over 10% in the closing session, as of this report, it has risen by 8.57% to 3.8 HKD.
According to Zhito Finance APP, DRCB (09889) surged over 10% in the closing session, as of this report, it has risen by 8.57% to 3.8 HKD.
On the news front, in recent years, there has been a noticeable trend of mergers and reorganizations among small and medium-sized Banks, which has shown explosive growth this year. Macro researcher Zhou Maohua from China Everbright Bank pointed out that market-oriented and efficient mergers and reorganizations of small and medium-sized Banks help to streamline equity structures, improve internal governance, accelerate the resolution of historical issues and non-performing Assets, and allow poorly managed and high-risk small Banks to gradually exit the market, reducing systemic risk. At the same time, through mergers and reorganizations, resource allocation can be optimized, achieving both quantity and quality improvements in Banks.
Sealand pointed out that policy efforts to convert debt will reduce Bank risk; measures to boost domestic demand may be introduced, and after the senior methods of capital regulation are implemented, Bank ROE is expected to increase. We believe that there is further room for improvement in Bank valuations and maintain a "recommended" rating for the Huaan CSI Banks ETF Feeder Fund-A.
