Guangfa Securities: this round of banking market is far from over.

[Guangfa Securities: this round of banking market is far from over]-Guangfa Securities reported that at present, bank valuations are still low, dividend yields are still high, and trading concentration in the banking sector is still low. combined with fundamentals, capital, policy and social expectations trends, this will be an opportunity to repair the systematic valuation of the banking sector. Although some investors are worried about stopping earnings, we believe that this round of banking market is far from over. In this round of market, some banks are cyclical resonance, some banks are trouble reversals, and some banks are long-term strategic premium return. At present, the cyclical resonance market is being interpreted, the predicament reversal market has just started, and the long-term strategic premium return market has not yet arrived. The market may be in order, but it will be interpreted in the end, and we continue to be optimistic about the absolute and relative earnings of the banking sector.