The Huatai Securities Research Report looks forward to the 2027 banking sector, saying that since this year, the banking sector has bucked the trend in an environment of market fluctuations. Currently, external uncertainty still exists, demand for steady earnings is rising, and the banking sector is both resilient in terms of performance and sustainability of dividends, which is conducive to supporting continued valuation recovery. The banking industry is undergoing a shift in business. The business model is shifting from being driven by scale to improving quality and efficiency. Asset structure, pricing, and shareholder returns are expected to improve, and performance resilience is outstanding. Under low interest rates and capital requirements, insurance capital and brokers' OCI allocation requirements continue. Active fund positions are low and room for additional allocations can be expected. Equity ETFs are converted to net subscriptions, and long-term capital forms a synergy with passive allocation. Currently, the dividend rate of the banking sector is about 4.31%. Compared with treasury bonds, A-shares as a whole, and other high-dividend industries, Huatai Securities believes that the banking sector still has steady allocation value. It is recommended to focus on H shares of major state-owned banks with steady profits and increased dividends, and high-quality banks with excellent flexibility.

The Huatai Securities Research Report looks forward to the 2027 banking sector, saying that since this year, the banking sector has bucked the trend in an environment of market fluctuations. Currently, external uncertainty still exists, demand for steady earnings is rising, and the banking sector is both resilient in terms of performance and sustainability of dividends, which is conducive to supporting continued valuation recovery. The banking industry is undergoing a shift in business. The business model is shifting from being driven by scale to improving quality and efficiency. Asset structure, pricing, and shareholder returns are expected to improve, and performance resilience is outstanding. Under low interest rates and capital requirements, insurance capital and brokers' OCI allocation requirements continue. Active fund positions are low and room for additional allocations can be expected. Equity ETFs are converted to net subscriptions, and long-term capital forms a synergy with passive allocation. Currently, the dividend rate of the banking sector is about 4.31%. Compared with treasury bonds, A-shares as a whole, and other high-dividend industries, Huatai Securities believes that the banking sector still has steady allocation value. It is recommended to focus on H shares of major state-owned banks with steady profits and increased dividends, and high-quality banks with excellent flexibility.