银行-2025H2理财公司半年报解读：规模普涨低波主线下策略分化

38%29%19%10%0%-10%-19%2025-052025-092026-01数据来源：聚源《冗余头寸仍在消化过程之中—4月2026Q1商业银行监管数据点评》请务必参阅正文后面的信息披露和法律声明1/请务必参阅正文后面的信息披露和法律声明1/24银行银行规模普涨，低波主线下策略分化l理财公司负债端：规模新台阶、盈利性分化 股份/城商行理财子、合资理财公司增速领跑，杭银理财、宁银理财等同比增速分化显著，信银理财、光大理财、宁银理财ROE位居行业前三；城商行理财子对母行营收及中收贡献度最为突出，显著高于股份l理财公司资产端：存款&基金加仓明显，委外占比仍高子对存款的依赖度仍然较高，衍生品&QDII优势大，但非标资源较少；部分股 同业存单&逆回购：NCD占比全面下降，逆回购占比总体提升3）债券：仓位普遍低于2022年赎回潮前水平，低波动为首要原则，除理财最高（49.70%建信理财最低（25.71%4）非标：占比持续回落，股资为主6）商品及衍生品、QDII：具有牌照和额度优势的头部国股行优势明>工银理财（1461亿元）＞信银理财（1201亿元）＞华夏理财（1045亿元）＞l收益下行vs规模高增：存款搬家+渠道发力 加速转化；收益率上，现金管理类理财≈1年期定存基本持平，非现金类日开理年化收益、加快新发节奏推动规模扩张，由于渠道众多、日常监管难度大。l小结理财坚守低波动定位，存款&短债&公募基金或仍为重仓方向。我们预计2026金规模有望创历史新高，债券规模同比略有对存款下沉的审批普遍较严、额度有限，国股行存款“流失”压力不大。l风险提示：经济增速不及预期；金融监管趋严；理财子牌照发放收紧等。行业深度报告请务必参阅正文后面的信息披露和法律声明2/24前言：理财公开数据使用说明 41、理财公司负债端：规模新台阶、盈利性分化 52、理财公司资产端：存款&基金加仓明显，委外占比仍高 72.1、现金及存款：占比多数提升，国有行尤为明显 72.2、同业存单&回购：NCD占比多下降，回购变化不大 92.3、债券：仓位多数低于2022年“赎回潮”之前 2.4、非标：股份/城商行理财子占比较高 2.5、权益：占比微降&低者恒低 2.6、商品及金融衍生品&QDII：头部国股行理财子优势突出 2.7、公募基金：多数理财公司提升明显 2.8、资管产品：多数理财公司占比仍处高位 3、收益下行vs规模高增：存款搬家+渠道发力 3.1、存款搬家：存款客群加速转化为理财客群 3.2、渠道发力：新发节奏快、展示收益高 3.2.1、行业现状：过往业绩“展示口径”各异 3.2.2、监管难题：代销渠道众多，难以日常监测 4、小结：低波资产仍为主线，存款结构有望调整 215、风险提示 22图1：截至2026Q1末持有理财产品的投资者数量上升至1.48亿个，同比增长17.46%（个） 图2：2026年3月收益率对比上：现金管理类理财≈1Y定存，非现金类日开理财＞3Y定存。 图3：200只理财产品样本中有117只（占比近60%）在手机银行购买首页展示的是“成立以来年化收益率” 图4：200只理财产品样本中有70只（占比35%）在首页展示时选取了阶段收益率中的最大值 图5：某手机银行APP的“持仓收益率”隐藏在折叠页中，且该收益率未年化 图6：2026Q1“固收+”理财破净率最高为2.85%，低于5%的警戒线 图7：2026Q1“固收+”理财最大回撤中位数最高为44.5BP，低于100BP的警戒线 图8：2025Q1~2026Q1，理财每季度新发募集近20万亿元，占理财存续规模约2/3 图9：除母行代销外，2026年3月全市场有617家机构跨行代销了理财公司发行的理财产品 20表1：截至2025年末，多数理财公司管理规模为历史新高 5表2：2025年ROE最高的三大理财公司分别为信银理财、光大理财、宁银理财 6表3：城商行理财子对母行的营收贡献度最突出 6表4：现金及银行存款（穿透后多数理财公司的存款占比边际提升，国有行理财子尤为明显 7表5：现金及银行存款（直接投资vs间接投资直投、委外的存款可大致视作活期、定期存款 8表6：我们测算理财持有的存款中活期约占4成，若利率下降20BP→产品收益下降2.5BP 9表7：同业存单（穿透后所有单独披露该项的理财公司2025H2同业存单占比均边际下降 9表8：拆放同业及买入返售：近年占比总体提升 表9：债券（穿透后多数理财公司的债券占比仍低于2022H1，或主要考虑净值波动 表10：债券（直接投资vs间接投资国股行理财子更多委外，城商行理财子更多直投 表11：非标（穿透后2023年至今总体下降，股份&城商理财公司非标比例较高 请务必参阅正文后面的信息披露和法律声明3/24表12：权益（穿透后多数理财公司权益占比总体微降且“低者恒低” 表13：权益（直接投资vs间接投资普遍采用委外而非直投 表14：商品及金融衍生品（穿透后招银理财一家独大 表15：QDII（穿透后工银理财、招银理财规模遥遥领先 表16：公募基金（穿透后2025年多数理财公司公募基金占比明显提升 表17：资管产品：2025H2委外占比平均为64%，并未较2025H1明显下降 表18：监管规定了业绩比较基准、过往业绩的“披露口径”，但未规定“展示口径” 20表19：理财持仓一览：我们预计2026年底现金及银行存款、公募基金分别增至约13万亿元、3万亿元 21行业深度报告请务必参阅正文后面的信息披露和法律声明4/24明度、标准化程度较低，数据可得性低于公募基金。目前分析理财持仓的公公司（除恒丰、浙银、上银理财）披露2025年下半年理财报告。行业深度报告请务必参阅正文后面的信息披露和法律声明5/24（2.43万亿元信银理财（2.30万亿元农银理财（2.1增速最高，其次为股份/城商行理财子，如杭银理财、宁银理财、华夏理财、渤银理理财公司的管理规模（亿元）2021-062021-122022-062022-122023-062023-122024-062024-122025-062025-12趋势图2025年yoy1建信理财9,46321,88320,47019,11014,74114,99114,99815,98714,08517,4208.96%2中银理财8,68017,10015,86816,50615,10915,50617,40518,48718,58219,6486.28%34国有交银理财7,98312,24711,48510,85411,62212,31414,59116,18017,01317,4898.09%农银理财11,17518,23216,81617,75714,20715,87317,27719,69617,53321,5139.23%56工银理财中邮理财12,48812,4884,45720,2186,55318,2378,46117,6237,79115,0217,05316,0757,33717,4639,18919,6149,99218,51611,84720,91213,1726.62%31.82%789股份光大理财招银理财兴银理财平安理财华夏理财信银理财广银理财浦银理财民生理财渤银理财恒丰理财浙银理财6,7616,76126,45710,307-6196192,396------9,9649,96427,77513,514-5,374 8,180------11,25911,25928,81516,0312,5915,47711,40711,4071,1233,0999,456---11,30911,30926,67320,6338,7425,13414,87114,8711,6578,3938,797-219219-11,76211,76225,30420,7258,7524,71815,27815,2781,5877,0587,516237528-12,67812,67825,48822,42710,0705,91916,7071,6649,5188,6571,3201,104-14,56114,56124,43521,40610,4037,16818,6381,93011,3799,5411,5381,432-15,74415,74424,70221,92112,1088,33319,4651,82412,70610,1571,6581,659-17,87124,57723,03611,5689,93121,0701,74312,94811,3812,1552,0751,43819,46026,43724,31210,92212,15122,9621,90814,65113,1842,4892,3341,82523.60%7.03%-9.80%45.82%4.63%29.80%40.64%-20212223242526城商杭银理财宁银理财徽银理财南银理财苏银理财青银理财上银理财北银理财2,5682,5682,8311,4182,799-489489--3,0673,0673,3222,1513,2712,7601,4214,288-3,5493,5493,7302,4093,7993,6971,708735-3,5993,5993,8642,1153,4263,5892,0083,979-3,3553,3553,4381,8203,4944,4652,2262,2263,1522,6193,7393,7394,0211,7733,7405,2042,0812,0812,8042,6794,0244,0244,0491,9424,3456,0456,0452,0853,0233,0334,3864,7351,9781,9784,7356,3326,3321,9933,2693,7345,1446,0116,0112,0995,4337,4547,4541,8953,5914,1756,0766,0766,9632,3656,1548,2622,0563,8594,56538.53%47.04%29.98%30.48%3.15%22.24%27农商渝农商理财9231,2191,4631,3911,2441,2051,2331,3781,6361,72825.36%28汇华理财2717828095103122432581572353235.81%29贝莱德建信理财-26306711812212427236343860.97%30合资施罗德交银理财--3418112210113617118234031高盛工银理财---234412528244341045.16%32法巴农银理财------76296487893202.04%年新发产品结构调整有关，如增加混合类等高费率产品的发行。行业深度报告请务必参阅正文后面的信息披露和法律声明6/2422理财公司ROA（年化）ROE（年化）2022-062022-122023-062023-122024-062024-122025-062025-1219.69%14.31%10.18%6.07%8.42%7.32%7.86%7.12%2022-062022-122023-062023-122024-062024-122025-062025-1220.79%15.05%10.58%6.66%9.21%7.61%8.15%7.39% 较2024年-0.22%1建信理财2中银理财19.54%12.30%11.34%10.37%12.40%10.35%13.45%11.63%21.08%13.24%11.92%10.82%12.86%10.69%13.92%12.06%7%345国有交银理财农银理财工银理财12.03%15.42% 10.07%10.97%20.70%6.36%10.14%9.05%9.64%10.23%8.06%6.53%10.77%10.42%9.36%9.45%8.68%6.49%10.25%10.80%8.78% 10.11%14.56% 7.01%12.39%15.64% 10.63%11.30%20.94%6.76%10.44%9.15%9.98%10.56%8.24%6.76%11.10%10.78%9.49%9.80%8.96%6.57%10.72%11.13%8.86% 10.58%15.19% 7.07%0%6中邮理财11.78%10.88%7.22%6.66%8.23%7.47%7.88%7.94%12.42%11.46%7.50%6.92%8.50%7.66%8.01%8.07%0%789股份光大理财招银理财兴银理财平安理财华夏理财信银理财广银理财浦银理财民生理财渤银理财恒丰理财浙银理财25.73%28.86%36.95%10.57%32.30%23.00%23.80%27.68%22.13%22.31% 19.53% 17.47% 17.57%13.93%12.66% 18.12%16.29%18.50%18.50%17.94%10.88%16.78%13.26%17.05% 20.26%12.25%16.58%11.74%15.71%15.21% 11.38%18.29%18.29%11.04%13.71% 10.50%13.39%18.18%18.18%10.46%13.28% 10.52%14.09%-2.59%2%2%31.68%38.61%11.23%33.54%26.02%28.81%24.37%23.19% 18.68% 18.18%14.89%13.22%17.21%13.87% 17.63% 21.38%12.79%12.26%16.27%15.84%11.85% 11.48%14.19% 10.90%13.75% 10.89%13.68% 10.89%14.58%19.20%19.63%11.31%2.73%-0.49%-0.60%2.60%--0.68%-28.01%22.09%3.58%25.61% 17.54%- 6.11%16.81% 9.45%--19.93%3.97%6.04% 18.00%-13.79%12.81% 9.00%--19.52%4.69% 18.79%- 20.46%12.06% 8.03%- 7.04%18.80%4.12%30.20%24.31%3.75%27.13%18.95%21.31%3.97%6.34%17.42%8.94% 18.85%-14.37%13.36% 9.51%--20.61%4.77% 20.09%- 21.65%12.53% 8.43%- 7.14%20.12%4.17%--------5.41%6.48%18.00%9.79%12.84%12.41%--13.59%12.83%16.19%-15.64%---16.17%----17.19%---8.41%8.83%11.01%8.17%9.68%3.71%9.26%11.47%8.58%10.04%3.86%--------20212223242526城商杭银理财宁银理财徽银理财南银理财苏银理财青银理财上银理财北银理财61.11%61.11%32.81%37.37%25.24%- 26.16%17.23%-47.12%47.12%30.61%-22.47%22.47%-21.26%21.26%20.17%0.37%25.39%25.39%20.12%8.71%12.61%-20.36%20.36%9.52%16.24%22.00%22.00%17.42%3.32%11.63%9.34%16.99% 7.72%13.58%23.06%23.06%17.59%9.48%12.97%-18.69%18.69%3.88%12.04% 17.78%15.35%- 11.08%-13.94%2.78%2.78%9.64% 17.45%15.86%-12.90%14.50%10.73%10.73%5.06%12.24%14.41%16.62%- 11.18%13.65%8.47%8.47%3.32%8.54%70.20%70.20%36.16%41.92%27.86%-28.88%28.88%17.74%-56.25%56.25%33.97%- 25.12%- 23.27% 20.84%-28.83%28.83%22.04%9.28%13.94%-22.00%22.00%9.83%16.50%24.91%24.91%19.13%3.52%12.97%9.64%9.64%18.34%7.98%13.42%24.82%24.82%19.09%9.88%14.37%-20.58%20.58%4.00%12.70% 19.18%16.70%-12.35%-15.46%2.90%2.90%10.10% 18.76%17.30%-14.42%16.88%11.83% 5.31%12.75%15.30% 18.20%-12.53%16.63%9.21%9.21%3.46%8.91% -3.88%--5%6%9%27农商渝农商理财16.86%13.61%5.38%5.89%9.35%8.15%11.38%9.61%17.45%14.09%5.50%6.04%9.60%8.39%11.77%9.90%2%28贝莱德建信理财-----------------29汇华理财----6.62%--8.92%--9.00%----7.39%--9.72%--9.85%-0.合资施罗德交银理财-----------------高盛工银理财-----------------法巴农银理财-----------------数据来源：Wind、开源证券研究所（注：城商行理财子对母行的营收贡献度最突出。我们计算了理财子营收占集团营收左右，或主要由于城商行中收来源相对单一，理财子牌照的稀缺性凸显；国有行中收来源多元且理财产品让利降费较为普遍，利润诉求相对较弱。营业收入/集团营业收入2020-062020-122021-062021-122022-062022-122023-062023-122024-062024-122025-062025-12中银理财-----0.47%-0.44%-0.47%-0.57%工银理财---0.16%-0.24%-0.27%-0.30%-0.33%中邮理财---0.58%0.59%0.60%0.42%0.41%0.51%0.49%0.50%0.56%兴银理财 0.14%0.96%2.45%1.78%2.33%1.99%1.50%1.83%1.76%1.94%1.71%1.87%华夏理财-0.10%0.53%0.69%2.03%1.62%1.08%1.01%1.04%1.20%1.44%1.71%信银理财--1.42%1.49%1.75%1.68%1.40%1.69%1.68%1.89%1.77%2.07%浦银理财----0.20%1.44%0.44%0.54%0.89%1.16%1.47%1.52%民生理财-------1.38%-1.32%-1.36%渤银理财------1.51%2.14%1.98%2.21%1.43%2.04%杭银理财0.22%1.07%2.39%3.18%6.03%6.25%3.93%4.01%4.02%3.82%3.61%3.54%宁银理财0.72%1.20%1.22%1.53%2.53%2.60%1.89%1.90%1.85%1.94%1.83%2.20%南银理财--1.85%-2.99%-2.04%-2.13%-2.25%-青银理财-0.21%1.39%5.53%5.36%4.88%4.74%4.23%4.57%4.07%2.94%2.76%上银理财----1.47%2.14%1.18%1.26%0.77%---营业收入/集团手续费及佣金收入2020-062020-122021-062021-122022-062022-122023-062023-122024-062024-122025-062025-12中银理财-----3.33%-2.97%-3.34%-3.95%工银理财---1.03%-1.53%-1.65%-1.98%-2.15%中邮理财---4.39%3.39%4.03%2.17%2.77%3.78%4.23%3.54%4.55%兴银理财0.45%4.59%11.01%8.28%10.87%8.94%9.13%11.62%12.93%13.81%12.18%12.88%华夏理财-0.68%3.58%4.94%12.99%10.64%8.52%8.10%8.84%10.42%11.18%13.75%信银理财--6.96%7.49%9.15%8.66%7.09%9.41%9.78%10.77%8.51%11.47%浦银理财----1.00%7.17%2.29%2.91%4.98%6.64%8.63%8.97%民生理财-------7.66%-8.15%-8.80%渤银理财------7.55%7.66%8.83%10.36%13.09%13.67%杭银理财1.47%8.13%16.24%23.47%35.07%39.17%27.30%29.81%31.02%31.20%25.80%25.70%宁银理财2.59%6.75%7.32%8.58%18.08%17.35%14.26%15.90%18.24%20.29%18.31%19.68%南银理财--10.37%-20.22%-19.08%-18.79%-18.60%-青银理财-1.19%8.74%28.32%33.96%31.71%25.55%24.99%28.07%27.58%21.67%21.35%上银理财----11.08%16.33%10.12%11.73%8.29%---行业深度报告请务必参阅正文后面的信息披露和法律声明7/24占比最低的为广银理财（12.92%较2025H1下降超产品数量较少、存续的美元理财产品持有高比例的外币存款，存款比例被拉高，达穿透后（直接投资+间接投资，亿元）2022-122023-062023-122024-06现金及银行存款2021-122022-062024-122025-062025-122022-062022-122024-122025-062025-12占比（占穿透后总资产）2023-062023-122024-06穿透后（直接投资+间接投资，亿元）2022-122023-062023-122024-06现金及银行存款2021-122022-062024-122025-062025-122022-062022-122024-122025-062025-125230.103363.054750.713562.886837.782257.184789.025278.725104.394738.765281.987288.532871.28建信理财中银理财交银理财农银理财工银理财中邮理财5557.385230.103363.054750.713562.886837.782257.184789.025278.725104.394738.765281.987288.532871.28建信理财中银理财交银理财农银理财工银理财中邮理财5557.385620.064434.756497.168226.182312.2734.15%30.52%35.17%30.80%42.41%34.80%5628.332458.124365.455207.995269.605161.415808.027537.332439.5831.22%28.61%27.86%38.53%41.90%26.20%7445.146574.976616.257294.129273.223497.305934.643890.484484.5924.81%14.84%34.42%29.08%21.88%38.61%4855.065300.464332.866899.237600.732678.4634.47%26.97%28.83%30.59%39.34%18.02%33.52%29.09%25.83%31.20%40.63%19.81%41.23%31.84%35.56%32.60%43.30%22.94%-21.28%-4254.07国有38.19%4254.07国有-----23.00%-----5021.11712.476224.601156.9324.65%7.46%33.14%13.11%3353.1485.2441.34%5021.11712.476224.601156.9324.65%7.46%33.14%13.11%3353.1485.2427.84%光大理财----------21.55%32.51%27.14%23.29%25.77%15.10%25.37%33.15%16.47%5.39%17.17%15.22%23.79%19.43%13.23%12.03%21.10%18.90%30.11%招银理财兴银理财平安理财华夏理财信银理财广银理财浦银理财民生理财渤银理财恒丰理财杭银理财宁银理财22.76%30.33%25.33%27.19%19.61%15.17%24.19%35.59%4305.292217.7028.95%30.68%31.31%46.43%23.00%27.14%39.10%34.79%27.11%30.92%30.52%33.76%19.93%23.60%27.12%37.97%26.48%29.92%32.43%33.14%22.10%15.64%32.08%37.48%7898.677433.232967.071777.183261.60 397.912162.933078.055068.553931.57338.92487.561243.2361.65459.928314.087743.633423.932931.334184.58 482.733970.773221.417148.237154.243695.212540.914421.4621.55%32.51%27.14%23.29%25.77%15.10%25.37%33.15%16.47%5.39%17.17%15.22%23.79%19.43%13.23%12.03%21.10%18.90%30.11%招银理财兴银理财平安理财华夏理财信银理财广银理财浦银理财民生理财渤银理财恒丰理财杭银理财宁银理财22.76%30.33%25.33%27.19%19.61%15.17%24.19%35.59%4305.292217.7028.95%30.68%31.31%46.43%23.00%27.14%39.10%34.79%27.11%30.92%30.52%33.76%19.93%23.60%27.12%37.97%26.48%29.92%32.43%33.14%22.10%15.64%32.08%37.48%7898.677433.232967.071777.183261.60 397.912162.933078.055068.553931.57338.92487.561243.2361.65459.928314.087743.633423.932931.334184.58 482.733970.773221.417148.237154.243695.212540.914421.46 310.304067.603665.176219.617371.333399.452390.934103.13 287.873262.073754.7524.71%32.56%31.99%23.14%28.78%12.92%26.52%38.25%17.95%4589.695448.091834.26 816.791893.43 376.231690.992840.597264.568786.433775.913097.517220.64 256.184086.075233.39466.5515.51%22.21%11.47%7.87%10.38%5.13%13.56%-266.11511.11股份------------------5.42%8.43%17.77%98.61473.68782.384.99%10.02%17.78%5.45%10.51%18.47%97.61532.45888.5497.89497.02867.4033.38332.34634.836.92%12.46%21.16%-------139.79401.283.65%10.23%1376.912310.9720.77%31.99%---133.59965.89-------139.79401.283.65%10.23%1376.912310.9720.77%31.99%---7.10%---273.537.10%---上银理财北银理财上银理财北银理财渝农商理财汇华理财贝莱德建信理财徽银理财南银理财254.28苏银理财254.2843.65281.80119.13544.39161.57633.59801.20180.25577.88721.06145.52606.371010.09177.87-279.96416.31557.861023.111034.59853.311311.4943.65281.80119.13544.39161.57633.59801.20180.25577.88721.06145.52606.371010.09177.871428.92-------22.11%3.51%19.96%12.68%5.56%6.98%19.90%24.73%11.80%19.83%25.51%13.97%17.78%25.95%12.33%19.81%24.33%13.84%54.07%1656.263.51%19.96%12.68%5.56%6.98%19.90%24.73%11.80%19.83%25.51%13.97%17.78%25.95%12.33%19.81%24.33%13.84%54.07%----735.58--1421.58336.3329.77%18.22%45.67%-----农商合资199.99165.2667.6811.55%13.56%154.72104.051421.58336.3329.77%18.22%45.67%-----农商合资199.99165.2667.6811.55%13.56%154.72104.05156.88406.08292.36-------------1.481.461.565.16%1.78%26.60%22.27%--------131.16109.60-------------1.481.461.565.16%1.78%26.60%22.27%--------44.26%---------------高盛工银理财法巴农银理财98.44.26%---------------高盛工银理财法巴农银理财98.17%98.98%-------------0.3521.730.33%6.64%14.25%30.86%435.49-------------0.3521.730.33%6.64%14.25%30.86%---------73.17---------数据来源：理财公司半年报、开源证券研究所（披露口径中，直投、委外的存款可大致视作活期、定期存款。存款分为直接投资和间接投资，直接投资即为“穿透前”口径，直接投资和间接投资之和为“穿透行业深度报告请务必参阅正文后面的信息披露和法律声明8/24城商）：城商建信理财中银理财10.48%11.42%9.55%9.37%10.10%12.37%10.16%19.13%-----17.03%16.06%18.54%直接投资（亿元）占比（占穿透后总资产）2021-122022-062022-122023-062023-122024-062024-122025-062025-122022-062022-122023-062023-122024-062024-12建信理财中银理财10.48%11.42%9.55%9.37%10.10%12.37%10.16%19.13%-----17.03%16.06%18.54%直接投资（亿元）占比（占穿透后总资产）2021-122022-062022-122023-062023-122024-062024-122025-062025-122022-062022-122023-062023-122024-062024-122025-062025-12现金及银行存款交银理财农银理财工银理财中邮理财交银理财农银理财工银理财中邮理财--14.94%21.27%28.08%23.19%19.15%19.62%15.20%22.03%24.83%25.59%26.69%25.94%23.04%25.57%1.45%2.86%6.29%9.65%4.96%6.03%4.45%3.26%国有---2314.833647.785027.814828.223635.354389.902309.223097.464137.854107.334397.174841.935253.354413.905475.3251.21138.18252.09510.44795.84507.04703.59602.77497.46光大理财招银理财光大理财招银理财兴银理财平安理财华夏理财信银理财广银理财浦银理财民生理财渤银理财1011.76524.111496.3593.301196.09627.92192.672048.413533.141220.12115.141543.9770.39574.61591.984070.092481.23995.16439.831458.88153.651627.031085.90249.67---2.85%7.59%10.54%10.37%13.84%12.83%14.22%19.59%15.63%14.78%11.86%10.67%9.20%9.35%12.27%9.04%7.38%10.71%8.16%8.01%8.43%-1.38%4.50%4.01%1.50%3.87%4.84%3.29% 4.34%7.59%7.70%8.40%7.72%8.30%6.52%5.81% 0.56%1.00%1.05%5.02%3.55%5.79%5.03%7.75% 2.06%3.85%3.71%6.59%4.53%7.02%8.74%10.56%----6.05%7.17%5.32%7.94%------8.79%9.61%2881.572881.651095.33340.111735.24109.90946.06756.69818.07806.99252.921528.5889.31669.23-1383.002271.493255.274709.971383.00-276.221157.90878.92--272.72股份-l85.39l236.92520.121194.741259.75-272.72股份--6.7217.7617.7169.89l344.66l295.86-----1.46%1.66%1.36%---1.46%1.66%1.36%1.31%2.69%--2.96%5.41%5.79%5.66%5.56%6.21%4.27%2.35%4.57%11.83%12.89%11.14%7.54%-10.12%恒丰理财杭银理财113.21213.12247.26254.87276.16349.44283.05-l90.61l179.24l422.73541.26471.88l367.91-731.1523.4424.6425.6566.67-宁银理财城商徽银理财南银理财苏银理财-l216.89l320.59l379.05l545.52l524.09l399.85l544.03966.85--634.205.63%8.55%8.14%10.27%8.27%5.98%6.77%7.26%青银理财-