Key Takeaways HSBC's Q2 pre-tax profit fell 29% year over year to $6.33B due to higher credit losses and expenses.Q2 ECL surged to $1.07B, mainly tied to Hong Kong real estate sector challenges.HSBC announced a $3B share buyback and returned $9.5B to shareholders in dividends and repurchases in H1.HSBC Holdings (HSBC) reported second-quarter 2025 pre-tax profit of $6.33 billion, which declined 29% from the prior-year quarter.Shares of HSBC slide more than 2.5% in pre-market trading as quarterly performance ...

截至2025年6月末，港澳居民代理见证开户业务共开立个人银行账户47.2万户，交易金额超过400亿元。 "代理见证开户业务为港澳居民在内地求学、就业、生活提供了更加便捷的支付服务，促进了大湾区金 融互联互通。该业务被纳入粤港澳大湾区建设领导小组推出的'惠港16条'，以及中国人民银行等五部门 印发的'横琴金融30条'。"中国人民银行广东省分行相关负责人介绍道。 随着"北上"旅游、置业、养老的规模不断增长，港澳居民在大湾区内活动半径扩大至更多城市，对扩大 业务办理城市范围提出需求。为此，中国人民银行广东省分行组织8家参与银行拓展内地业务地区，覆 盖大湾区内地9市。同时，组织银行结合港澳网点分布和客户需求，增加港澳地区见证网点，进一步提 升触达度和开户便利性。 近年来，中国人民银行广东省分行紧紧围绕港澳居民在内地支付需求，持续打造粤港澳大湾区支付服 务"无障碍"生活圈，陆续推出本外币合一银行结算账户体系、港澳电子钱包跨境应用、港珠澳大桥ETC 无感通行缴费、港澳单牌车无感支付停车、横琴"澳门新街坊"双币种收单业务等一系列支付领域改革创 新，持续满足港澳居民对支付服务无缝衔接的需求，深度促进粤港澳民生融合。 2019 ...

Press Release 30 July 2025 HSBC CONTINENTAL EUROPEINTERIM RESULTS 2025 On 29 July 2025, HSBC Continental Europe’s Board of Directors approved the consolidated financial statements for the first half of 2025. Performance during the first half of 2025 reflected strong revenue growth in Corporate and Institutional Banking1 driven by increased client activity. This was partly offset by investment in technology and restructuring costs. Since the beginning of the year and as previously announced, HSBC Continental ...

Group 1: Macroeconomic Dynamics - The Chinese government will provide childcare subsidies for infants born after January 1, 2022, until they reach three years old, starting from January 1, 2025 [1] - The subsidy aims to support families during the critical early years of child development, aligning with international practices [1] Group 2: Immigration and Travel - Chinese passport holders can now travel to over 90 countries and regions without a visa or with a visa on arrival, improving the passport's global ranking from 72nd to 60th [2] Group 3: Industry Competition - The China Metal Materials Circulation Association has called for an end to "involution-style" competition in the steel circulation industry, advocating for fair competition based on product quality and innovation [3] Group 4: Financial Institutions - HSBC's Swiss private banking division is under investigation by Swiss and French authorities for alleged money laundering activities, which may have significant implications for the company [7] Group 5: Market Data - As of July 30, the Shanghai Composite Index rose by 0.17%, while the ChiNext Index fell by 1.62%, with a total market turnover of approximately 1.844 trillion yuan [8] - The financing balance in the two markets increased by 15.271 billion yuan, reaching a total of 1.962 trillion yuan [9] Group 6: Company Dynamics - New Oriental's stock fell over 11% in pre-market trading due to revenue forecasts for the first fiscal quarter of 2026 being below market expectations [11][12] - Long River Power plans to invest approximately 26.6 billion yuan in the construction of the Gezhouba shipping capacity expansion project [18] - Digital Certification will change its controlling shareholder to Beijing Data Group, following a transfer of state-owned shares [19]

汇丰集团称，与去年比较，今年的目标基准营业支出增长维持约3%。预期今年的贷款需求将持续低 迷，但中长期而言，预期客户贷款结欠按年可达中单位数百分比增长；预期财富管理业务的费用及其他 收益中期内可达每年双位数的平均百分比增长。 （文章来源：新华财经） 新华财经香港7月30日电（记者林迎楠）汇丰控股30日公布中期业绩显示，2025年第二季度除税前利润 较2024年第二季度同比减少26亿美元至约63亿美元，同比下跌28.97%，低于市场预期。 据悉，汇丰控股派第二次股息每股10美分，此外拟展开最多达30亿美元的股份回购，预计将于今年第三 季业绩公布前完成。 数据显示，2025年上半年，汇丰控股除税前利润减少至158亿美元，主要由于确认与联营公司交通银行 相关的摊薄和减值亏损21亿美元。此外，去年上半年与出售加拿大银行业务及阿根廷业务相关的36亿美 元增益净额不复再现，也产生不利影响。 报告期内，汇丰控股预期信贷损失为19亿美元，同比增加9亿美元。汇丰集团称，目前预计今年预期信 贷损失准备占贷款总额平均值的百分比约为40个基点，包括持作出售用途贷款结欠，反映香港商业房地 产行业持续面对困难市况。 此外，汇丰控股上半年 ...

富瑞发布研报称，汇丰控股(00005)次季有形股本回报率(ROTE)达17.7%，税前盈利较市场绝大部分预 期高10%(撇除交行)，主要受惠于强劲的拨备前营业收入表现。集团维持全年银行业务净利息收入指引 420亿美元不变，惟香港业务仍存下行风险。针对香港市场，集团录4亿美元商业地产拨备，全年风险成 本指引40个基点，符合预期。有形资产净值(TNAV)同比增长10%，较预期高2%。财富管理业务收入同 比增长22%，而且有新增客户资金流入，未来前景良好。 ...

智通财经APP获悉，富瑞发布研报称，汇丰控股(00005)次季有形股本回报率(ROTE)达17.7%，税前盈利 较市场绝大部分预期高10%(撇除交行)，主要受惠于强劲的拨备前营业收入表现。集团维持全年银行业 务净利息收入指引420亿美元不变，惟香港业务仍存下行风险。针对香港市场，集团录4亿美元商业地产 拨备，全年风险成本指引40个基点，符合预期。有形资产净值(TNAV)同比增长10%，较预期高2%。财 富管理业务收入同比增长22%，而且有新增客户资金流入，未来前景良好。 ...

受业绩公布影响，汇丰控股港股跌近4%，带动汇丰控股(HSBC.US)美股盘前跌3%。消息上，汇丰控股 2025年上半年收入为341.22亿美元，去年同期为372.92亿美元；除税前利润为158.1亿美元，去年同期为 215.56亿美元。其中第二季度营收164.7亿美元；除税前利润63亿美元，同比下滑29%，逊预期。另外， 汇丰宣布回购不超过30亿美元股票。(格隆汇) | HSBC 汇丰控股 | | | | --- | --- | --- | | 65_060 + +0.580 +0.90% | | 收盘价 07/29 15:59 美东 | | 63.070 + -1.990 -3.06% | | 盘前价 07/30 04:40 美东 | | 二 分 24 S × 8 目 ♥ 白 一 白 | | ● 快捷交易 | | 最高价 65.370 | 开盘价 65.220 | 成交量 169.04万 | | 最低价 64.900 | 昨收价 64.480 | 成交额 1.1亿 | | 平均价 65.102 | 市福率 TM 11.94 | 总市值 2266.78亿(…) | | 振 幅 0.73% | 市盈率(静) 1 ...

该行现予目标价118港元，维持"增持"评级，因认为关税及香港商业地产风险导致的拨备增加在预期范 围内，而且次季年化信贷成本较该行预期低7个基点。另外，交行稀释损失与减值拨备属一次性项目， 对股息分派、CET1及股份回购前景影响有限；再者，即使HIBOR疲弱，净利息收入表现仍然较预期具 韧性，且集团逐步达成全年净利息收入420亿美元指引。 摩根大通发表研究报告指，汇丰控股次季基本税前盈利较市场预期高10%，当中银行净利息收入及手续 费与其他收入分别胜预期2%及11%，由财富管理业务势头持续所带动。有形股本回报率(ROTE)达 18.2%，高于市场预期的全年15.5%。普通股权一级资本比率(CET1)维持14.6%，以及30亿美元股份回购 计划，均符合该行预期。 ...

Core Viewpoint - UBS reported that HSBC Holdings (00005) announced a pre-tax profit of $15.81 billion for the first half of the year, a year-on-year decline of 26.7% [1] Group 1: Financial Performance - HSBC's pre-tax profit excluding significant items for Q2 was $9.162 billion, exceeding the company's expectations by 10% [1] - Revenue increased by 5%, with net interest income (NII) up by 2% and fee-based and other income rising by 11% [1] - Operating expenses met expectations, and pre-provision profit grew by 10% [1] - Impairment losses were 12% higher than market expectations, particularly due to $400 million in expenses related to Hong Kong commercial real estate (CRE) [1] - Loans and deposits grew by 3% to 4% quarter-on-quarter, supported by a strong British pound [1] Group 2: Capital and Dividends - The Common Equity Tier 1 (CET1) capital ratio stood at 14.6%, in line with expectations [1] - A stock buyback plan of $3 billion (1.1% of market value) was announced, compared to UBS's estimate of $2.5 billion and market consensus of $2.75 billion [1] - The dividend per share was set at $0.10, meeting expectations [1] Group 3: Future Guidance - UBS maintained its guidance for HSBC for FY2025, with net interest income expected at $42 billion, in line with market consensus [2] - Target cost growth is projected at 3%, approximately $33.3 billion, also matching market consensus [2] - Loan losses are anticipated at around 40 basis points, consistent with market consensus [2] - Average return on tangible equity (ROTE) is expected to be in the mid-teens for FY2025, FY2026, and FY2027, with market consensus at 15.5%, 15%, and 15.5% respectively [2] - The CET1 capital ratio is expected to remain between 14% and 14.5% in the medium term [2] Group 4: Market Sentiment and Valuation - Concerns were raised by investors regarding credit provisions for Hong Kong real estate and HSBC's ability to maintain its net interest income guidance for FY2025 [3] - Despite higher loan loss expectations, the outlook for non-interest income in Hong Kong was positive, showing a 22% increase or $182 million [3] - HSBC's current valuation is estimated at a price-to-earnings ratio of 9.5 times for FY2026, compared to Standard Chartered's 8.8 times, with a dividend yield of 5% and a tangible asset ratio of 1.4 times [3]