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UNAUDITED SEMI-ANNUAL ACCOUNTS AS AT 30 JUNE 2024
Banks' stocks are experiencing a "rare" big drop, JPMorgan: There is no reason for it!
JPMorgan believes that the trend of funds flowing into high-yielding stocks will continue, and the performance of bank stocks is not significantly below expectations. The performance growth rate of JPMorgan, Bank of Communications, Ningbo Bank, and China Citic Bank in the first half of 2024 and expected earnings for the fiscal year 2024 are still on track, so there is no need to overly worry about banks reducing dividends due to capital pressure.
The effect of interest rate cuts on deposits is gradually becoming apparent, with interest expenses of many national banks decreasing in the first half of the year, and some banks reducing by more than 7%.
① According to the semi-annual reports of joint stock banks and state-owned banks, although the trend of deposit regularization is obvious, and coupled with the expansion of deposit scale, the cost of debt has actually been reduced for many banks. ② Recent earnings conferences have shown that executives of various banks have expressed the need to adjust the asset-liability structure, strengthen cost control of liabilities, and attract low-cost deposits. This will be the focus and deployment direction for commercial banks in the second half of the year.
Track Hyper | Microspeech: Hongmeng Smart Travel Releases New Car
With the light version (WenJieXin M7 Pro) and the heavy version (ZhiJie R7), they are balanced.
Bank stocks firmly hold the "iron throne"! The total market value of the six major banks surpasses that of the GEM, with multiple stocks reaching new highs this year.
①The total market value of the six major banks has increased from 6.64 trillion yuan at the end of last year to the current 8.79 trillion yuan, with a total market value increase of over 2 trillion yuan. ②The total market value of the chinext price index has decreased from 11.39 trillion yuan at the end of last year to the current 8.67 trillion yuan.
Wang Chuanfu finally enters the second half of intelligentization. BYD collaborates with Huawei Qiankun to release new cars in the third quarter.
BYD and Huawei signed a smart driving cooperation agreement in Shenzhen. The first product focuses on the upcoming Fengchepao 8 model, equipped with Huawei's Qiankun smart driving ADS3.0. BYD and Huawei will conduct in-depth joint research and development on smart driving for the Fengchepao car, creating the world's first hardcore exclusive smart driving solution.