研报点睛：板块强势！估值有望继续提升

东方财富研究中心11-19

11月19日，A股三大指数今日涨跌不一，截止收盘，沪指涨0.18%，收报3946.74点；深证成指微幅收跌，收报13080.09点；创业板指涨0.25%，收报3076.85点。盘面上，保险行业板块涨2.42%；个股方面，中国人保、中国人寿等均有不同程度上涨。申万宏源表示，3Q25A股险企利润大增68%，投资业绩贡献前三季度税前利润增量的79%。不同于3Q24公允价值变动驱动投资收益高增，3Q25已...

网页链接

免责声明：本文观点仅代表作者个人观点，不构成本平台的投资建议，本平台不对文章信息准确性、完整性和及时性做出任何保证，亦不对因使用或信赖文章信息引发的任何损失承担责任。

精彩评论

我们需要你的真知灼见来填补这片空白

发表看法

{"i18n":{"language":"zh_CN"},"isChannel":false,"data":{"share":"https://www.laohu8.com/m/news/2584915647?lang=zh_CN&edition=full","thumbnail":"","is_english":false,"pubTime":"2025-11-19 15:56","share_image_url":"https://static.laohu8.com/9a95c1376e76363c1401fee7d3717173","id":"2584915647","market":"hk","top_or_hot":-1,"title":"研报点睛：板块强势！估值有望继续提升","media":"东方财富研究中心","content":"<div>\n<p>11月19日，A股三大指数今日涨跌不一，截止收盘，沪指涨0.18%，收报3946.74点；深证成指微幅收跌，收报13080.09点；创业板指涨0.25%，收报3076.85点。盘面上，保险行业板块涨2.42%；个股方面，中国人保、中国人寿等均有不同程度上涨。申万宏源表示，3Q25A股险企利润大增68%，投资业绩贡献前三季度税前利润增量的79%。不同于3Q24公允价值变动驱动投资收益高增，3Q25已...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20251119155919950df3ce&s=b\">网页链接</a>\n\n</div>\n","source":"tencent","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>研报点睛：板块强势！估值有望继续提升</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n研报点睛：板块强势！估值有望继续提升\n</h2>\n\n<h4 class=\"meta\">\n\n\n2025-11-19 15:56 北京时间&nbsp;&nbsp;&nbsp;<a href=http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20251119155919950df3ce&s=b><strong>东方财富研究中心</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>11月19日，A股三大指数今日涨跌不一，截止收盘，沪指涨0.18%，收报3946.74点；深证成指微幅收跌，收报13080.09点；创业板指涨0.25%，收报3076.85点。盘面上，保险行业板块涨2.42%；个股方面，中国人保、中国人寿等均有不同程度上涨。申万宏源表示，3Q25A股险企利润大增68%，投资业绩贡献前三季度税前利润增量的79%。不同于3Q24公允价值变动驱动投资收益高增，3Q25已...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20251119155919950df3ce&s=b\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU2226246903.HKD","symbol_name":"ALLIANZ TOTAL RETURN ASIAN EQUITY \"AT4\" (HKD) ACC","start_time":0,"source_url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20251119155919950df3ce&s=b","article_id":"2584915647","we_media_id":null,"thumbnails":[],"rights":{"source":"tencent","url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20251119155919950df3ce&s=b","rn_cache_url":null,"customStyle":"body{padding-top:10px;}#news_title{font-weight:bold;#titleStyle#;}#news_description span{font-size:12px;#descriptionStyle#;}.footer-note{#statement#}","selectors":".mod-LoadTzbdNews, body","filters":".relate-stock, .hot-list, .recom-box, .wx-sou","directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2584915647","pubTimestamp":1763538998,"columns":[],"sourceInfo":{"source_id":"tencent","name":"腾讯"},"weMediaInfo":null,"summary":"11月19日，A股三大指数今日涨跌不一，截止收盘，沪指涨0.18%，收报3946.74点；深证成指微幅收跌，收报13080.09点；创业板指涨0.25%，收报3076.85点。盘面上，保险行业板块涨2.42%；个股方面，中国人保、中国人寿等均有不同程度上涨。申万宏源表示，3Q25A股险企利润大增68%，投资业绩贡献前三季度税前利润增量的79%。对于资产端，在监管引导资本市场稳中向好的推动下，保险板块的投资收益有望实现改善，进而能支撑保险板块的估值继续提升。","collect":0,"end_time":0,"defaultTopTitle":"qq.com","property":[],"viewcount":null,"language":"zh","relate_stocks":{"81299":"友邦保险-R","82318":"中国平安-R","601318":"中国平安","LU2226246903.HKD":"ALLIANZ TOTAL RETURN ASIAN EQUITY \"AT4\" (HKD) ACC","LU0449515922.USD":"HSBC GIF GLOBAL EMERGING MARKETS EQUITY \"PC\" (USD)ACC","LU0856984785.SGD":"HSBC GIF MANAGED SOLUTIONS ASIA FOCUSED GROWTH \"ACH\" (SGDHDG) ACC","02601":"中国太保","LU1481012133.USD":"FIDELITY EMERGING MARKETS \"A\" (USDHDG) INC","02628":"中国人寿","LU1048588211.SGD":"Blackrock Asian Dragon A2 SGD-H","BK1589":"北水核心资产","LU0244354667.USD":"SCHRODER ISF CHINA OPPORTUNITIES \"A\" ACC","LU0054450605.USD":"HSBC GIF GLOBAL EMERGING MARKTS EQ \"AD\" INC","LU0359202008.SGD":"Blackrock China Fund A2 SGD-H","LU1804176565.USD":"EASTSPRING INV GLOBAL GROWTH EQUITY \"A\" (USD) ACC","LU0348805143.USD":"ALLIANZ ENHANCED ALL CHINA EQUITY \"A\" (USD) INC","LU0797268264.HKD":"ALLIANZ TOTAL RETURN ASIAN EQUITY \"AT\" (HKD) ACC","SG9999014005.SGD":"United Global Durable Equities Fund Acc SGD","IE00BMCWC346.EUR":"GUINNESS EMERGING MARKETS EQUITY INCOME \"C\" (EUR) ACC","LU0158827781.USD":" ALLIANZ GLOBAL SUSTAINABILITY \"AT\" (USD) ACC","LU2008162690.USD":"FIDELITY FUNDS - ASIA PACIFIC OPPORTUNITIES \"A\" (USD) ACC","LU1734074674.USD":"NINETY ONE GSF ASIA PACIFIC FRANCHISE \"A\"(USD) ACC","LU0594300179.USD":"FIDELITY CHINA CONSUMER \"A\" (USD) ACC","00966":"中国太平","LU0762541174.USD":"HSBC GIF MANAGED SOLUTIONS ASIA FOCUSED INCOME \"AM2\" (USD) INC","LU0069063385.USD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"A\" (USD) ACC","IE00BKZH1Z71.USD":"BNY MELLON ASIAN INCOME \"B\" (USD) ACC","LU0611395673.USD":"NINETY ONE GSF EMERGING MARKETS EQUITY \"A\" (USD) ACC","LU2177674079.SGD":"Fidelity Asia Pacific Opportunities A-ACC-SGD (hedged)","LU0890818403.SGD":"JPMorgan Funds - Emerging Markets Dividend A (mth) SGD-H","LU0169518387.USD":"JPM ASIA EQUITY \"A\" ACC","LU2125910500.SGD":"Natixis WCM Global Emerging Markets Equity H-R/A SGD","LU3063872942.SGD":"FULLERTON LUX FUNDS ASIA EQUITIES \"I\" (SGD) ACC","LU0561508036.HKD":"ALLIANZ CHINA EQUITY \"A\" (HKD) INC","PNGAY":"中国平安ADR","IE0032834883.USD":"FSSA ASIAN EQUITY PLUS \"I\" (USD) INC","01299":"友邦保险","LU0315179316.USD":"EASTSPRING INVESTMENTS ASIAN DYNAMIC \"A\" (USD) ACC","LU0039217434.USD":"HSBC GIF CHINESE EQUITY \"AD\" INC","LU1152091168.USD":"UBS (LUX) EQUITY FUND - CHINA OPPORTUNITY (USD) \"PM\" INC","LU0607220059.USD":"SCHRODER ISF HONG KONG EQUITY \"A\" (USD) ACC","SG9999001846.SGD":"Schroder Asian Equity Yield A Dis SGD","LU0898667661.SGD":"JPMorgan Funds - Asia Pacific Income A (mth) SGD-H","02318":"中国平安","LU0061477393.USD":"CT (LUX) I ASIA EQUITY INCOME \"AU\" (USD) ACC","02328":"中国财险","SG9999000327.SGD":"Schroder Asian Growth A Dis SGD","HPAD.SI":"Ping An Ins HK SDR2to1","LU0588545904.SGD":"Eastspring Investments - Asian Equity Income ASDM SGD","03145":"华夏亚洲高息股","LU0577902538.SGD":"Fullerton Lux Funds - Asia Growth and Income Equities A Acc SGD","AAGIY":"友邦保险ADR","LU0328353924.USD":"UBS (LUX) EQUITY SICAV - GLOBAL EMERGING MARKETS OPPORTUNITY (USD) \"P\" (USD) ACC"},"translate_title":"The crowning point of the research report: the sector is strong! Valuations are expected to continue to improve","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"81299":0.6,"82318":0.6,"601318":0.6,"02318":0.64,"02628":0.9,"02601":0.9,"PAImain":0.6,"PNGAY":0.6,"AAGIY":0.6,"HPAD.SI":0.6,"01299":0.9,"03145":0.6,"00966":0.9,"02328":0.9},"content_text":"11月19日，A股三大指数今日涨跌不一，截止收盘，沪指涨0.18%，收报3946.74点；深证成指微幅收跌，收报13080.09点；创业板指涨0.25%，收报3076.85点。盘面上，保险行业板块涨2.42%；个股方面，中国人保、中国人寿等均有不同程度上涨。申万宏源表示，3Q25A股险企利润大增68%，投资业绩贡献前三季度税前利润增量的79%。不同于3Q24公允价值变动驱动投资收益高增，3Q25已实现投资收益为投资业绩高增的核心驱动。高基数下业绩高增长+二级市场权益配置规模持续提升预期下，板块“高弹性”标签进一步夯实。建议持续关注低估值、高弹性标的，推荐中国人寿（H+A）、中国平安、新华保险、中国人保、中国财险、中国太保、友邦保险，建议关注中国太平。展望2025全年，对于负债端，国联民生预计新业务价值率改善有望推动寿险NBV实现较好增长，财险严格执行“报行合一”及财险公司积极优化业务结构有望带动财险COR同比改善。对于资产端，在监管引导资本市场稳中向好的推动下，保险板块的投资收益有望实现改善，进而能支撑保险板块的估值继续提升。个股推荐中国人民保险集团、中国财险、中国平安、中国太保、新华保险、中国人寿、阳光保险。","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":false,"deviceId":"web-server-community-laohu8-v3","version":"4.35.9","shortVersion":"4.35.9","platform":"web","vendor":"web","appName":"laohu8","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2584915647","isCrawlerRequest":true}