CITIC Securities released a research report saying that the bank earnings season began last week. The operating pattern of listed banks is stable, interest spreads and asset quality are stable, and profit growth has slightly recovered. More banks are announcing results this week, and the overall situation is expected to be in line with expectations. From an investment perspective, the banking sector had both relative and absolute returns last week, outperforming most industries; looking ahead to the third quarter, it is expected that core variables such as interest spreads and asset quality will remain stable, profit repair trends will be positive throughout the year, and long-term logic such as superimposed macroeconomic narratives will continue to be interpreted, and absolute returns will continue throughout the year.

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