2024 年第四季度总结 —— 倾向风险敞口较低的四大行中国银行股在 2024 年第四季度的营业利润(PPoP)和利润增长有所改善,但各银行间趋势分化。基于 2024 年第四季度业绩表现,我们的偏好顺序是四大国有银行 > 招商银行 > 中信银行 > 其他银行。我们倾向于四大行,因其对非住房零售贷款的风险敞口较低,且受固定收益市场波动的影响较小。鉴于对非住房零售贷款的风险敞口相对较高,我们会避开...
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