中国中信金融资产管理股份有限公司（以下简称"中信金融资产"）日前举行2025年中期业绩发布 会。数据显示，2025年上半年，公司实现归母净利润61.68亿元，同比增长15.7%，剔除金租出表影响后 同比增长27.5%。 中信金融资产向上向好发展态势持续巩固，充分发挥逆周期调节和金融救助功能，发挥了不良资产 行业的"国家队"和"主力军"作用。 持续深耕主业 提升发展动能 纾困房企 助力构建房地产发展新模式 中信金融资产聚焦房地产领域风险化解，积极发挥逆周期调节和金融救助功能，服务"保交楼、保 民生、保稳定"。 2022年以来，中信金融资产累计投放房地产纾困项目93个，累计实现保交房7.59万套。 中信集团党委委员、副总经理兼中信金融资产董事长、执行董事刘正均表示，上半年，中信金融资 产实现"四个显著提升"：一是经营业绩显著提升，二是主业能力显著提升，三是品牌形象显著提升，四 是队伍能力显著提升。 "作为持牌的金融机构，不良资产主责主业是我们的主战场，也是我们的'护城河'。核心竞争力是 人和能力的表现，上半年，公司不良资产经营主业不断取得突破，成为公司业绩的主要来源。"中信金 融资产总裁、执行董事李子民说。 数据 ...

Core Insights - Chengdu has become a significant hub for "first stores," with over 4,000 first stores, ranking third in China after Beijing and Shanghai [1] - The "first economy" has emerged as a new driver for urban consumption vitality, with 395 first stores established and over 180 high-profile events held in the first half of the year [1][2] - The Jinjiang District, as the core area of Chengdu's international consumption center, has attracted more than 600 first stores, with nearly 2,000 international brands, accounting for over 30% of the city's first launch resources [1] Government Initiatives - The Jinjiang District government has formed a professional investment promotion team to attract businesses, reducing approval times from 7-10 days to as fast as 2-3 days [2] - A "gold medal service specialist" system has been implemented to provide one-on-one support for businesses, covering all aspects from site selection to operational coordination [2] - The local government has introduced various policies and support measures to stimulate the first economy, focusing on mechanism innovation, service upgrades, and creating engaging consumer scenarios [2][3] Economic Impact - The Jinjiang District government launched the "First Economy High-Quality Development Leading Plan (Spring Action)" in early 2025, establishing a first economy promotion alliance and creating benchmark projects [3] - The Spring Street business district hosts a new first store or event approximately every two days, contributing to a year-on-year consumption growth of 6.8%, leading the nation [3] - Future plans include enhancing the business environment for first economy development and launching the first national first information index to promote sustainable growth [3]

上半年，半导体行业发展韧性凸显。在国产替代与市场回暖的双重推动下，中芯国际、华虹公司等 头部晶圆制造企业保持满产运行，中微公司等半导体设备企业订单充足，瑞芯微、泰凌微等9家芯片设 计企业盈利同比翻倍，构筑行业增长"压舱石"。 人工智能技术的快速渗透成为集成电路产业升级的关键变量，为行业发展开拓了广阔增量空间。一 批AI算力企业凭借独特技术优势迎来经营质量的快速提升。 浙商证券在近期研报中表示，关键半导体设备研发突破、送样验证，推动半导体设备板块业绩实现 增长。国内半导体设备各细分环节正不断研发突破，快速积累自主IP，并逐步具备"出海"可能性。此 外，随着国内供应链在零部件、材料领域的加强，机台稳定性一致性正快速提升，头部晶圆厂采购设备 国产化有望提速。 设备企业积极扩大产能 同花顺iFinD数据显示，按申万二级行业分类，半导体行业整体营业收入同比增长15.54%，归属于 上市公司股东的净利润同比增长32.41%。在半导体行业的165家上市公司中，有120家上市公司报告期 内实现盈利，100家上市公司归属于上市公司股东的净利润实现同比增长。 今年上半年，寒武纪实现营业收入28.81亿元，同比增长4347.82% ...

以濮阳市银行业协会为例，该协会在近日发文时表示，"内卷"是一把"双刃剑"，它在短期内或许能 带来表面繁荣，但其代价是扭曲了市场资源配置，削弱了金融体系的服务效能，挫伤了从业者的职业尊 严与热情，最终损害的是整个行业的形象与未来。 民银研究发布的报告提出，7月份，中央财经委员会第六次会议聚焦"纵深推进全国统一大市场建 设"，要求"依法依规治理企业低价无序竞争，引导企业提升产品品质，推动落后产能有序退出"，预示 着下半年综合整治"内卷式"竞争将会进一步落实。 在金融管理部门的指导下，银行业金融机构正在跳出 " 内卷式 " 恶性竞争、转变对产能过剩行业的融 资供给思路。 " 反内卷 " 带动的不仅仅是银行业金融机构经营思路与经营策略的调整，更是行业生态的优 化和发展质量的提升。 "今年以来，'反内卷'要求逐步推行，有利于规范银行业有序竞争，引导银行业把握好金融支持实 体经济和保持自身健康发展。"日前，在中信银行召开的2025年中期业绩发布会上，中信银行行长芦苇 表示。 今年以来，多地金融监管局、银行业协会先后发声，呼吁辖内银行业金融机构摒弃"内卷式"竞争， 规范发展、稳健运行。 今年7月，平安银行广州分行率先开始推 ...

Group 1: Company Performance - Pianzaihuang Pharmaceutical Co., Ltd. reported revenue of 5.379 billion yuan and net profit of 1.442 billion yuan for the first half of 2025, reflecting the company's strong performance in the traditional Chinese medicine sector [1] - The company is expanding its product offerings to include functional health foods and daily chemical products, aligning with the rising demand for health and wellness products in China [1] - The overall performance of Pianzaihuang is indicative of the resilience and vitality of China's consumer market, which is shifting towards quality, personalization, greenness, and health [1] Group 2: Consumer Market Trends - The "old for new" policy has effectively stimulated growth in the consumer market, with 2.8 billion people applying for subsidies, leading to sales exceeding 1.6 trillion yuan [2] - The automotive sector saw a 6% increase in revenue for listed companies, with new energy vehicle sales rising nearly 30% [2] - The home appliance sector also experienced a 10% increase in net profit among listed companies, with Haier and Hisense leading in market share and sales growth [2] Group 3: Basic and New Consumption - Basic consumption categories such as dining, accommodation, and household services showed steady growth, with retail sales of consumer goods reaching 24.5458 trillion yuan, a 5% increase year-on-year [4] - Companies in the beverage and seasoning sectors reported significant growth, with East Peak Beverage's electrolyte drink revenue increasing by 214% [4] - New consumption trends, particularly in beauty and fashion, have led to substantial profit increases for companies in these sectors, with net profits rising by 26.12% and 42.91% respectively [4] Group 4: Tourism and Travel - Domestic tourism saw 3.285 billion trips in the first half of 2025, a 20.6% increase, with spending reaching 3.15 trillion yuan, up 15.2% [7] - Listed tourism companies reported a 58% increase in net profit, driven by innovative experiences and cultural tourism [7] - Airports such as Shanghai and Baiyun reported net profit increases of 28% and 71% respectively, reflecting the recovery in international travel [8]

在资本市场中，上市银行的分红方案一直备受投资者关注。近日，随着A股上市银行半年报陆续出 炉，一场关于中期分红的"盛宴"逐步拉开了帷幕。 其中，工商银行以每10股派发1.414元（含税）、503.96亿元的中期分红总额位居上市银行之首。农 业银行、中国银行、建设银行、交通银行、邮储银行拟分红总额分别为418.23亿元、352.50亿元、 486.05亿元、138.11亿元、147.72亿元。 在股份制银行中，招商银行、中信银行、民生银行、平安银行及华夏银行5家银行均已确认将实施 2025年中期分红。 作为"零售之王"的招商银行公布了自上市以来的首次中期利润分配计划。根据半年报，招商银行 2025年度中期利润分配现金分红金额占2025年半年度归属于普通股股东净利润的比例为35%，预计将于 2026年1月至2月之间派发现金红利，具体现金分红日期及股权登记日将另行公告。 "为更好回报投资者，提高现金分红的及时性、稳定性，本行积极响应监管号召，做好新'国九 条'等重要政策研究落实，在去年实施中期分红的基础上，着力推动中期分红常态化。"中信银行表示， 该行拟将2025年度中期分红比例提升至30.7%，进一步提升投资者回报 ...

在传统车企转型方面，广汽集团上半年新能源汽车销量为15.41万辆，集团海外出口同比增长 45.8%；自主品牌长城汽车上半年新能源车销量达到16.04万台，同比增长23.64%。 作为新能源汽车的"心脏"，电池行业同样展现出强大韧性。全球动力电池龙头宁德时代上半年营业 收入1789亿元，同比增长7.27%；净利润304.85亿元，同比增长33.33%。亿纬锂能上半年营业收入281.7 亿元，同比增长30.06%。分业务看，消费电池营收50.79亿元，同比增长4.75%；动力电池营收127.48亿 元，同比增长41.75%；储能电池营收102.98亿元，同比增长32.37%。国轩高科上半年营业收入193.94亿 元，同比增长15.48%；净利润3.67亿元，同比增长35.22%。国轩高科表示，公司上半年业绩实现增长主 要是得益于出货量增长及毛利提升。 今年以来，我国新能源汽车行业继续保持快速增长态势。中国汽车工业协会发布的数据显示，今年 前7个月，我国新能源汽车产销双超820万辆。在亮眼的产销数据背后，A股新能源汽车产业链上市公司 半年报同样展现出行业强劲的发展韧性和创新活力。 产业发展韧性展现 海外业务拓展加速 ...

"我们持续完善全覆盖、全流程的全面成本管理体系，提升投入产出质效。上半年经营费用同比增 长1.18%；成本收入比23.72%，同比下降0.43个百分点。"业绩发布会上，建设银行行长张毅如是表示。 8月末，上市银行集中披露半年度业绩报告。数据显示，上半年，主要商业银行在服务经济社会高 质量发展中扎实推进经营管理各项工作，尤其是在资产负债结构优化、成本管控方面取得良好成效，对 延续稳健增长态势的经营业绩形成支撑。 数据显示，2025年上半年，42家A股上市银行共实现营业收入超2.9万亿元，同比增长超过1%；实 现归母净利润1.1万亿元，同比增长0.8%。其中，工行、农行、中行、建行上半年净利润均超过千亿 元，多家银行成本收入比实现了稳中有降。 通过多措并举管控成本，持续优化成本费用资源配置，邮储银行上半年成本收入比同比下降5.15个 百分点。 "这几年邮储银行一直在大力推进机制体制改革，重塑集约化运营模式，极大地节约了运营成本， 提高了我们的管理效率。"邮储银行行长刘建军介绍，例如，该行数字人辅助云柜业务办理时长缩短了 40%；消费信贷的集中上收节约人工成本30%，规范化大幅提升。 "通过加强对期限长、付息率高的 ...

Core Insights - The Chengdu International Railway Port has established a Southeast Asian fruit distribution center, significantly enhancing the logistics of importing Thai durians to China, which allows for fresher products to reach consumers quickly [1][2]. Group 1: Logistics and Efficiency - The new logistics model reduces transportation time by 70% compared to traditional sea freight and cuts costs by 50% compared to air freight, with a total transit time of just 72 hours [2]. - The "One Box to the End" cold chain transportation model of the China-Laos Railway has effectively addressed the issues of high prices and slow delivery times, injecting new vitality into the fruit economy [1][2]. Group 2: Market Impact and Growth - Since the launch of the durian import business, the trade volume at the Chengdu International Railway Port has exceeded 100 million yuan, with a retail price of 22 yuan per jin leading to a surge in consumer demand [2]. - The distribution center aims to import 8,000 tons of fresh durians and achieve a trade volume of over 200 million yuan this year, with plans to become the largest Southeast Asian fruit distribution center in Southwest China within 3-5 years [3]. Group 3: Future Prospects - The center is expected to account for over 15% of the national fresh durian import volume and drive related product trade to exceed 5 billion yuan annually [3]. - The China-Laos Railway not only serves as a logistics channel but also enhances economic vitality and consumer demand, making fresh durians more accessible to the public [3].

9月3日，纪念中国人民抗日战争暨世界反法西斯战争胜利80周年大会在北京天安门广场隆重举行， 习近平总书记发表重要讲话。信托、金融租赁、消费金融公司等非银行金融机构积极组织党员干部员工 观看大会直播。盛大的阅兵仪式气势恢宏，令大家深受鼓舞，反响热烈。 非银机构基层员工纷纷表示，他们将把伟大抗战精神铭记于心，并转化为实际行动，以更饱满的热 情、更昂扬的斗志和更务实的作风，投入到各自的工作中，为金融事业发展贡献力量。 "对我而言，这是一场深刻的精神洗礼，使我深刻认识到，和平稳定的环境是经济社会发展与繁荣 的基石。" "这既是历史的回响，更是未来的号角。" "铭记历史，是为了更好地走向未来。" …… "金融工作者要牢记服务实体经济的使命，以更饱满的热情和更扎实的作风，为客户提供更优质的 金融服务，为区域经济社会发展贡献力量。"江瀚表示。 从为客户提供优质的金融服务，到推动金融创新发展；从防范金融风险，到维护金融市场稳定，每 一个环节都离不开基层金融员工的努力和付出。金融强国建设也需要每一个金融从业者脚踏实地、真抓 实干。面向未来，大家纷纷表示，将带着这份震撼和责任，在建设金融强国的道路上砥砺前行。 "我们将把爱国热情 ...