恒生銀行有限公司 薪酬委員會之職權範圍 1. 宗旨 恒生銀行有限公司（「本行」）董事會授權及提供充足資源予薪酬委員會（「委 員會」），監督有關影響本行及其附屬公司（「本集團」）薪酬事宜，特別是： 2. 成員 1 (a) 監督本行薪酬政策的執行及運作情況，與滙豐集團薪酬架構一致； (b) 確保該薪酬架構符合任何相關當地法律、規則或法例； (c) 確保該薪酬架構符合本行承受風險水平、業務策略、文化與價值及長遠利 益；及 (d) 確保該薪酬架構能吸引、保留並激發具素質的個別人員，支持本行的成功 發展。 2.1 委員會須由不少於三位成員組成，包括最少兩位非執行董事，又以獨立非執行 董 事 佔大多數 （ 當 中包括委員會主席） ，或遵循香港聯合交易所有限公司 （「聯交所」）之證券上市規則（「上市規則」）之規定。 2.2 委員會主席須由董事會於獨立非執行董事中委任。 2.3 委員會成員的委任須經香港上海滙豐銀行有限公司（「滙豐香港」）薪酬委員 會審議。 2.4 委員會成員應共同在薪酬政策和慣例、風險管理和監督工作方面均具備適當的 知識、專長及經驗。 2.5 委員會成員毋須參與委員會審議涉及其個人利益或考慮到與其有實際或潛 ...

Group 1 - In July 2025, the number of existing property mortgages in Hong Kong decreased to 5,702, down 1,070 (15.8%) from June, while the number of new property mortgages increased to 804, up 240 (42.6%) from June, marking a 13-month high [1] - Compared to the same month last year, existing property mortgages decreased by 239 (4%) from 5,941 in July 2024, while new property mortgages increased by 246 (44.1%) from 558 in July 2024 [1] - For the first seven months of 2025, existing property mortgages totaled 34,587, an increase of 4,116 (13.5%) from 30,471 in the same period last year, while new property mortgages reached 3,993, up 1,782 (80.6%) from 2,211 in the previous year, marking a five-year high for the first seven months [1] Group 2 - In terms of market share for existing property mortgages, Bank of China Hong Kong leads with 29.1%, followed by HSBC at 21.3%, Hang Seng Bank at 12.6%, Standard Chartered at 6%, and Bank of East Asia at 4.9% [2] - For new property mortgages, HSBC regained the top position with a market share of 27%, while Bank of China Hong Kong fell to second with 26.4%, followed by Hang Seng Bank at 16.5%, Standard Chartered at 6.3%, and Bank of East Asia at 5.7% [2] - The market share of the four major banks for existing property mortgages dropped from 74.9% in the previous month to 69% in July 2025, indicating a potential shift in the competitive landscape as banks become more positive about mortgage business [2]

（文章来源：证券时报网） 花旗报告指出，鉴于信贷成本上升和净利息收入减少，已将恒生银行2025财年每股盈利预测下调24%。 然而，由于宣布的30亿港元股份回购、较佳的非利息收入及较低的营运支出，该行将恒生银行2026至 2027财年每股盈利预测上调1%。基于此，花旗将目标价从135港元降至131港元，维持"买入"评级。 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | 截至月份: | 2025年7月31日 | 狀態: | 新提交 | | --- | --- | --- | --- | | 致：香港交易及結算所有限公司 | | | | | 公司名稱: | 恒生銀行有限公司 | | | | 呈交日期: | 2025年8月1日 | | | | I. 法定/註冊股本變動 | 不適用 | | | | 備註： | | | | | 恒生銀行並無法定股本，及其股本並無股份面值。 | | | | FF301 第 1 頁 共 10 頁 v 1.1.1 FF301 II. 已發行股份及/或庫存股份變動 | 1. 股份分類 | 普通股 | | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00011 | | 說明 | 股份 | | | | | | 多櫃檯證券代號 | 80011 | RMB 說明 | | 股份 | | | | | | | | 已發行 ...

Group 1 - UBS downgraded Hang Seng Bank's rating from "Neutral" to "Sell" and lowered the target price from HKD 112 to HKD 102 [1] - The bank's net profit for the first half of the year fell by 34.6% year-on-year, with credit costs reaching a record high, resulting in performance below UBS and market expectations [1] - Management maintained a cautious outlook, indicating that expected credit losses (ECL) for the second half will be similar to the first half, suggesting that credit costs for the full year 2025 may exceed 100 basis points [1] Group 2 - Due to exposure to risks in Hong Kong's commercial real estate, UBS revised its earnings per share forecast for 2025-2026 down by 12% to 18% [1] - Despite a potential increase in the payout ratio to over 90%, the bank's dividend for 2025 is expected to be HKD 6.2, down from HKD 6.8 last year [1] - UBS noted that the HKD 3 billion share buyback plan is in line with expectations, and if loan demand remains weak next year, the buyback scale may be expanded [1]

考虑到香港商业地产的风险敞口为恒生带来的拨备压力，将2025至26年每股盈利预测下调12%至18%， 并预期即使派息比率可能提升至90%以上，2025年每股股息仍难维持稳定，料2025年股息为6.2港元， 而去年为6.8港元。另外，瑞银指30亿港元股份回购计划符合预期，若明年贷款需求持续疲弱，可能会 扩大回购规模。 瑞银发布研报称，将恒生银行(00011)评级由"中性"降至"沽售"，目标价由112港元下调至102港元。瑞银 指，恒生上半年净利润同比大跌34.6%，信用成本创新高，导致业绩逊于瑞银及市场预期。管理层在业 绩会议中维持审慎态度，指引下半年预期信用损失(ECL)将与上半年相若，意味2025全年信用成本可能 超过100个基点。 ...

该行预测恒生银行2025至2027财年信贷成本分别为110基点、60基点、45基点。随着盈利预测调整，该 行将目标价从135港元降至131港元，相当于预测明年市账率1.5倍，维持"买入"评级。花旗料恒生银行 今明两年净息差各为1.91%及1.97%。 花旗发表报告指，根据恒生银行上半年业绩，将2025财年每股盈利预测下调24%，主要受信贷成本上升 及因HIBOR预期降低导致的净利息收入减少。同时，花旗将恒生银行2026财年至2027财年每股盈利预 测上调1%，主要由于宣布的30亿港元股份回购、较佳的非利息收入及较低的营运支出，但部分被更保 守的信贷成本假设抵销。 ...

瑞银发表研究报告指，将恒生银行评级由"中性"降至"沽售"，目标价由112港元下调至102港元。瑞银 指，恒生上半年净利润按年大跌34.6%，信用成本创新高，导致业绩逊于瑞银及市场预期。管理层在业 绩会议中维持审慎态度，指引下半年预期信用损失(ECL)将与上半年相若，意味2025全年信用成本可能 超过100个基点。 考虑到香港商业地产的风险敞口为恒生带来的拨备压力，将2025至26年每股盈利预测下调12至18%，并 预期即使派息比率可能提升至90%以上，2025年每股股息仍难维持稳定，料2025年股息为6.2港元，而 去年为6.8港元。另外，瑞银指30亿港元股份回购计划符合预期，若明年贷款需求持续疲弱，可能会扩 大回购规模。 ...

| 序号 | 名称 | 港股代码 | ADR换算价(HKD) | 较港股升跌 | 较港股升跌% | AD ADR最新价(美元) | | --- | --- | --- | --- | --- | --- | --- | | 1 | 腾讯控股 | 0 00700 | 550.011 | +0.011 | 0.00% | 70.070 | | 2 | 阿里巴巴-W | 09988 | 118.360 | +2.660 | 2.30% | 120.630 | | 3 | 建设银行 | 00939 | 8.003 | -0.047 | -0.59% | 20.390 | | 4 | 汇丰控股 | 00005 | 96.234 | +0.084 | 0.09% | 61.300 | | 5 | 小米集团-W | 01810 | 52.874 | -0.276 | -0.52% | 33.680 | | 6 | 友邦保险 | 01299 | 73.059 | -0.341 | -0.46% | 37.230 | | 7 | 美团-W | 03690 | 120.489 | -1.111 | -0.91% | 30.700 ...

Group 1 - The core point of the article highlights that the Li Ka-shing family is selling 400 residential units in the Greater Bay Area, with prices starting from 400,000 yuan [1] - The properties being marketed include projects in Huizhou, Zhongshan, Guangzhou, and Dongguan, indicating a strategic move to attract Hong Kong buyers [1] - This "old stock new sale" approach reflects the family's long-term development strategy of acquiring land at low prices and suggests a significant increase in demand for property from Hong Kong residents [1]