非银金融行业周报：险企2026起全面实施新会计准则，关注陆家嘴论坛带来的政策预期

超配[Table_Authors]证券分析师陶圣禹S0630523100002tsy@longone.com.cn[table_stockTrend][table_product]相关研究1.AMC系券商实控人变更，把握政策催化带来的板块配置机遇——非银金 融 行 业 周 报 （20250602-20250608）2.关注陆家嘴论坛政策发布预期带来的市场情绪催化——非银金融行业周报（20250526-20250601）3.浮动管理费率基金加速推出，LPR下调有望推动预定利率调整Q3落地——非银金融行业周报（20250519-20250525）-28%-11%6%24%41%58%75%24-06 24-0924-1225-03申万行业指数:非银金融(0749)沪深300 2/9正文目录1.周行情回顾...................................................................................42.市场数据跟踪...............................................................................63.行业新闻......................................................................................74.风险提示......................................................................................8 HTTP://WWW.LONGONE.COM.CN请务必仔细阅读正文后的所有说明和声明 3/9图表目录图1 A股大盘走势（截至2025/6/13）..........................................................................................4图2日均股基成交额表现..............................................................................................................6图3沪深交易所换手率表现..........................................................................................................6图4融资余额及环比增速..............................................................................................................6图5融券余额及环比增速..............................................................................................................6图6股票质押参考市值及环比增速...............................................................................................6图7十年期利率走势.....................................................................................................................6图8股票承销金额表现.................................................................................................................7图9债券承销金额及环比..............................................................................................................7表1指数涨跌幅（截至2025/6/13）.............................................................................................4表2 A股券商前十涨幅表现（截至2025/6/13）............................................................................4表3 A股保险最新表现（截至2025/6/13）...................................................................................5表4 A股多元金融前十涨幅表现（截至2025/6/13）.....................................................................5表5主要港美股最新表现（截至2025/6/13）..............................................................................5表6行业新闻一览.........................................................................................................................7 HTTP://WWW.LONGONE.COM.CN请务必仔细阅读正文后的所有说明和声明 HTTP://WWW.LONGONE.COM.CN1.周行情回顾上周宽基指数方面，上证指数下跌0.2%，深证成指下跌0.6%，沪深300下跌0.3%，创业板指数上涨0.2%；行业指数方面，非银金融(申万)上涨1.2%，其中证券Ⅱ(申万)上涨0.8%，保险Ⅱ(申万)上涨2.1%，多元金融(申万)上涨0.4%。表1指数涨跌幅（截至2025/6/13）代码指数名称000001.SH上证指数399001.SZ深证成指000300.SH沪深300399006.SZ创业板指数801790.SI非银金融(申万)801193.SI证券Ⅱ(申万)801194.SI保险Ⅱ(申万)801191.SI多元金融(申万)资料来源：Wind，东海证券研究所图1 A股大盘走势（截至2025/6/13）资料来源：Wind，东海证券研究所表2 A股券商前十涨幅表现（截至2025/6/13）中文简称最新股价周涨跌幅湘财股份8.817.6%东兴证券10.824.1%天风证券4.103.0%兴业证券6.032.4%中国银河16.542.2%东方财富21.332.1%华西证券8.591.9%国信证券11.401.8%广发证券16.661.3%中信证券26.301.2%资料来源：Wind，东海证券研究所-20%-10%0%10%20%30%40%50%60%70%80%2024/08/072024/07/292024/07/182024/07/092024/06/28沪深300 4/9请务必仔细阅读正文后的所有说明和声明周涨跌幅1个月涨跌幅3个月涨跌幅年初至今涨跌幅-0.2%-0.8%-1.2%0.8%-0.6%-2.2%-7.8%-2.8%-0.3%-2.0%-3.6%-1.8%0.2%-1.9%-8.2%-4.6%1.2%-1.4%-3.4%-4.2%0.8%-2.4%-6.5%-8.4%2.1%0.5%2.9%3.2%0.4%-1.1%-0.9%3.8%总市值（亿元）PE(TTM)PB(MRQ)A/H溢价251.89372.072.12N/A349.7522.371.22N/A355.3095.881.52N/A520.7522.140.95N/A1,808.5515.841.61121%3,371.0032.504.05N/A225.4924.980.95N/A1,095.8211.761.21N/A1,267.1311.671.0346%3,897.8016.741.4533%2025/06/132025/06/042025/05/232025/05/142025/04/302025/04/212025/04/102025/03/312025/03/202025/03/112025/02/282025/02/192025/02/102025/01/222025/01/132025/01/022024/12/232024/12/122024/12/032024/11/222024/11/132024/11/042024/10/242024/10/152024/09/272024/09/182024/09/052024/08/272024/08/16证券Ⅱ(申万)保险Ⅱ(申万)多元金融(申万) HTTP://WWW.LONGONE.COM.CN2.市场数据跟踪经纪：上周市场股基日均成交额16510亿元，环比上一周增长16%；上证所日均换手率1%，深交所日均换手率2.76%。信用：两融余额1.82万亿元，环比上一周小幅增长0.4%，其中融资余额1.8万亿元，环比上一周小幅增长0.4%；融券余额123亿元，环比上一周小幅增长0.7%；股票质押市值2.67万亿元，环比上一周小幅降低0.4%。资料来源：Wind，东海证券研究所资料来源：Wind，东海证券研究所图6股票质押参考市值及环比增速资料来源：Wind，东海证券研究所-40%-30%-20%-10%0%10%20%30%40%50%2024/12/272025/01/102025/01/242025/02/072025/02/212025/03/072025/03/212025/04/042025/04/182025/05/022025/05/162025/05/302025/06/13日均股基成交额环比增速-右轴-6%-4%-2%0%2%4%6%8%2024/12/062024/12/202025/01/032025/01/172025/01/312025/02/142025/02/282025/03/142025/03/282025/04/112025/04/252025/05/092025/05/232025/06/06融资余额环比-右轴-8%-6%-4%-2%0%2%4%6%2024/12/272025/01/102025/01/242025/02/072025/02/212025/03/072025/03/212025/04/042025/04/182025/05/022025/05/162025/05/302025/06/13股票质押市值环比-右轴 6/9请务必仔细阅读正文后的所有说明和声明图3沪深交易所换手率表现资料来源：Wind，东海证券研究所图5融券余额及环比增速资料来源：Wind，东海证券研究所图7十年期利率走势资料来源：Wind，东海证券研究所0.01.02.03.04.05.06.07.02024/07/122024/08/022024/08/232024/09/132024/09/302024/10/252024/11/152024/12/062024/12/272025/01/172025/02/072025/02/282025/03/212025/04/112025/04/302025/05/232025/06/13(%)上证所日均换手率深交所日均换手率-10