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Express News | JPMorgan: The recent pullback presents an opportunity to increase shareholding in high-quality Chinese financial stocks, with its top pick being China Merchants Bank.
Express News | Deposits from Ping An Bank Institutions have exceeded 400 billion yuan.
Express News | Ping An Bank: More than 1,000 core qualifications for various governments, and institutional deposits exceed 400 billion yuan.
Major bank ratings | JPMorgan: It is expected that Chinese financial stocks will respond positively to the strong and powerful tone of the Central Political Bureau.
On December 11, Glonghui reported that JPMorgan issued a report stating that the recent strong and supportive tone from the Central Political Bureau for the macro economy and stock market is expected to have a positive response on Chinese financial stocks. It believes that the performance of brokerage stocks will outperform China Mainland Banking stocks in the short term, with a particular bullish outlook on East Money Information and China Galaxy. Among China Mainland Banking stocks, the preference is for CM BANK, which is expected to benefit from improvements in retail business and investment sentiment; at the same time, Ping An Bank is also viewed positively, estimating that its retail business will turn profitable by 2025 under low baseline and increased policy support. Additionally, state-owned China Mainland Banking may underperform growth-type banks due to their dilution of growth.
Express News | Henan Huanghe Whirlwind: The controlling shareholder has obtained a loan commitment letter from Ping An Bank Zhengzhou Branch for 60 million yuan through shareholding in stocks.
Ping An Bank: Supplementary Announcement to the 2023 Annual Report