Seesaw Effect Reappears? Huabao Fund's 10-Billion Bank ETF (512800) Steadily Rises for 5 Consecutive Days, Hangzhou Bank Hits New High! Institutions: Bank Valuation Reshaping Window Opens

On March 16, the banking sector continued to strengthen, with the intra-market price of the 100-billion top-stream bank ETF (512800) rising by 0.5%, maintaining a steady five consecutive days of gains. Most individual stocks moved higher, with Hangzhou Bank rising over 1% to reach a new historical high, Chongqing Bank up over 3%, Xiamen Bank up over 2%, and others like Changsha Bank and Nanjing Bank leading the gains.

Galaxy Securities stated, “The official draft of the ‘14th Five-Year Plan’ has been released, further emphasizing the goal of building a strong financial nation. The banking industry will enter a critical phase of structural adjustment, mode transformation, and valuation reshaping. The focus will shift from total expansion to structural optimization to capture incremental business opportunities, developing through comprehensive and differentiated strategies, and improving pricing order by reducing internal competition. Benefiting from system improvements, risk mitigation, and long-term capital allocation, valuation will be reshaped. We remain optimistic about the policy, fundamentals, and capital environment supporting the banking sector’s investment opportunities.”

Huachuang Securities believes that 2026 will still be a year of systemic valuation recovery for the banking sector: shifting from defense to a balanced offense and defense, driven by improving fundamentals and capital flows. On one hand, high dividends and low valuations remain core characteristics of bank stocks, especially under the backdrop of declining risk-free rates, which will continue to attract stable capital due to the bank stocks’ quasi-debt attributes. Additionally, as net interest margins stabilize, regional credit demand rebounds, and non-interest income grows, some high-quality banks will demonstrate strong earnings resilience, with valuations potentially shifting from PB-based logic to PE-based logic.

Bank ETF (512800) and its associated funds (A: 240019; C: 006697) passively track the CSI Bank Index, which includes 42 listed banks in A-shares, making it an efficient investment tool for tracking the overall banking sector trend. The latest size of the Bank ETF (512800) exceeds 11 billion yuan, with an average daily trading volume of over 800 million yuan since 2025, making it the largest and most liquid among the 10 banking ETFs in A-shares.

Data source: Shanghai and Shenzhen Stock Exchanges, etc.

ETF fee details: When investors subscribe or redeem fund units, the agent may charge a commission of up to 0.5%, which includes fees charged by stock exchanges, registries, and related entities. Fee details for the associated funds: Huabao CSI Bank ETF (A class) has a subscription fee of 1,000 yuan per transaction for subscriptions of 2 million yuan or more, 0.6% for 1-2 million yuan, and 1% for less than 1 million yuan; redemption fees are 1.5% if held less than 7 days, 0.5% for 7-180 days, 0.25% for 180 days to 1 year, and 0% for over 1 year, with no sales service fee. Huabao CSI Bank ETF (C class) does not charge a subscription fee; redemption fee is 1.5% if held less than 7 days, 0% otherwise; sales service fee is 0.4%.

Risk reminder: The Bank ETF passively tracks the CSI Bank Index, which was launched on December 31, 2004, and published on July 15, 2013. The index components are adjusted periodically according to the index rules. Past performance does not predict future results. The index components shown are for display only; individual stock descriptions are not investment advice and do not reflect holdings or trading activity of any fund managed by the issuer. The risk level of this fund, as assessed by the fund manager, is R3—medium risk, suitable for balanced (C3) and above investors. All information in this article (including but not limited to individual stocks, comments, forecasts, charts, indicators, theories, and any other statements) is for reference only. Investors are responsible for their own investment decisions. The opinions, analyses, and forecasts in this article do not constitute investment advice and the issuer is not responsible for any direct or indirect losses resulting from the use of this content. Fund investments carry risks; past performance does not guarantee future results, and the performance of other funds managed by the issuer does not guarantee the performance of any specific fund. Invest cautiously.

MACD golden cross signals have formed, and these stocks are on a strong upward trend!