核心要点：1、折中和平衡的方案：一是方案整体来看是市场影响和财政成本的平衡，二是个体来看，融资规模越大，发行溢价越多，是平衡Roe 和股息率摊薄的问题。2、摊薄影响：摊薄后，六家大行A 股25E 股息率平均4.45%左右，H 股（考虑免税）5.5%左右。3、资本投向：提升核心一级资本充足率在0.5%到1.5%，距离监管底线均在3个点以上，可至少支撑未来五年较高增长，为实体信贷投放、AIC 股权投资...
Source LinkDisclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.