Group 1 - The core index of the China Securities Index for Hong Kong-listed tradable mainland banks (HKT Mainland Banks, H11145) opened high and rose, reporting 1245.77 points [1] - The HKT Mainland Banks index has increased by 1.56% in the past month, 16.29% in the past three months, and 22.87% year-to-date [1] - The index series includes three indices: HKT Hong Kong Real Estate, HKT Mainland Consumption, and HKT Mainland Banks, reflecting the overall performance of related theme securities in the Hong Kong securities market [1] Group 2 - The top ten weights in the HKT Mainland Banks index are: China Construction Bank (31.83%), Industrial and Commercial Bank of China (23.51%), Bank of China (17.4%), China Merchants Bank (10.52%), Agricultural Bank of China (7.24%), CITIC Bank (3.48%), Postal Savings Bank of China (2.55%), Minsheng Bank (1.52%), Chongqing Rural Commercial Bank (0.75%), and China Everbright Bank (0.66%) [1] - The market segment of the HKT Mainland Banks index is entirely represented by the Hong Kong Stock Exchange, with a 100.00% share [1] Group 3 - The financial sector accounts for 100.00% of the industry represented in the HKT Mainland Banks index sample [2] - The index sample is adjusted every six months, with adjustments implemented on the next trading day after the second Friday of June and December [2] - Weight factors are generally fixed until the next scheduled adjustment, with temporary adjustments made under special circumstances [2]

Core Viewpoint - The banking sector has shown strong performance in 2023, with the China Securities Banking Index rising by up to 25%, and many bank stocks reaching historical highs, prompting some shareholders to consider profit-taking through share reductions [1][2][3] Summary by Sections Bank Stock Performance - The banking sector's stocks have experienced significant gains, with 42 stocks achieving positive growth and 18 reaching new historical highs this year [1] - Qingdao Bank has seen the largest increase, with intraday gains exceeding 40% [1] Shareholder Reduction Announcements - Six banks have announced share reduction plans since May, coinciding with the peak prices of bank stocks [2][3] - China Life intends to reduce its stake in Hangzhou Bank by up to 50.79 million shares, representing 0.7% of the total shares, marking the end of its 16-year investment in the bank [2] - Other banks, such as Qilu Bank and Changsha Bank, have also announced share reductions, with Qilu Bank's major shareholder planning to sell up to 60.44 million shares [3][5] Reasons for Share Reductions - Market analysts suggest that the reductions are primarily due to shareholders seeking to lock in profits after substantial price increases [8][9] - Factors influencing these decisions include the need for asset reallocation, the high valuation of bank stocks, and potential concerns about future growth prospects [9] Ongoing Investment Interest - Despite the reductions, there is still strong interest in bank stocks, with eight banks receiving shareholder increases this year, indicating a net positive sentiment towards the sector [9][10] - Insurance companies have also been actively acquiring bank shares, further demonstrating ongoing confidence in the banking sector [10]

证券代码：601998 证券简称：中信银行 公告编号：临2025-056 中信银行股份有限公司 关于发布 50 亿美元中期票据发售通函的公告 本行董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 中信银行股份有限公司（以下简称本行）已向香港联合交易所有限公司（ 以下简称联交所）提交50亿美元中期票据计划（以下简称计划）上市申请，并 于2025年7月22日上市。根据计划，拟发行的票据仅供专业投资者1购买。发售 通函的详情请参考本行2025年7月22日刊载于联交所披露易网站（www.hkexne ws.hk）的相关公告。 特此公告。 中信银行股份有限公司董事会 2025年7月22日 1 根据联交所上市规则第37章定义，专业投资者指(a)如属香港人士，按《证券及期货条例》附表1第1部所 界定的专业投资者（包括按该条例第397条所制定的规则所指的人士）；或(b)如属非香港人士，根据有关 司法权区对公开发售的相关豁免可向其出售证券的人士。 ...

生、王 化 成 先 生 及 宋 芳 秀 女 士。 香 港 交 易 及 結 算 所 有 限 公 司 及 香 港 聯 合 交 易 所 有 限 公 司 對 本 公 告 的 內 容 概 不 負 責， 對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 就 因 本 公 告 全 部 或 任 何 部 分 內 容 而 產 生 或 因 依 賴 該 等 內 容 而 引 致 的 任 何 損 失 承 擔 任 何 責 任。 本 公 告 僅 供 參 考，並 不 構 成 收 購、購 買 或 認 購 證 券 之 邀 請 或 要 約。本 公 告 並 不 構 成 或 組 成 在 美 國 境 內 提 呈 發 售 或 招 攬 購 買 或 認 購 任 何 證 券 之 建 議。本 公 告 所 述 證 券 概 無 且 不 會 根 據 經 修 訂 的 1933 年《美 國 證 券 法》 （「證 券 法」）或 美 國 任 何 州 的 證 券 法 登 記。除 根 據 證 券 法 獲 豁 免 或 屬 不 受 該 等 登 記 規 定 所 規 限 之 外，證 券 不 可 在 美 國 境 內 提 呈 發 售 或 出 售。本 ...

Core Insights - The AI Fund Huatai-PineBridge Dividend Smart Selection Mixed Fund A (021515) reported a profit of 675,500 yuan for Q2 2025, with a weighted average profit per fund share of 0.0654 yuan [3] - The fund's net asset value (NAV) growth rate for the reporting period was 6.4%, and as of the end of Q2, the fund size was 11.4554 million yuan [3] - The fund manager indicated a high position operation throughout the reporting period, with a focus on high-dividend Hong Kong stocks and low-volatility sectors like banking and transportation [3] Fund Performance - As of July 18, the fund's three-month cumulative NAV growth rate was 10.38%, ranking 325 out of 615 comparable funds [4] - The six-month cumulative NAV growth rate was 12.76%, ranking 235 out of 615 comparable funds [4] - The fund's Sharpe ratio since inception was 0.1788 as of June 27 [8] Risk Metrics - The maximum drawdown since inception was 8.18%, with the largest quarterly drawdown occurring in Q2 2025 at 7.8% [9] - The average stock position since inception was 81.35%, compared to the peer average of 83.26%, with a peak stock position of 93.31% at the end of H1 2025 [12] Portfolio Composition - As of the end of Q2 2025, the fund's top holdings included Agricultural Bank of China, China Merchants Bank, China Construction Bank, Bank of China, Gree Electric Appliances, Industrial and Commercial Bank of China, China Mobile, Anhui Wanan Highway, Chongqing Rural Commercial Bank, and Citic Bank [16]

Investment Rating - The industry investment rating is "Positive" (maintained) [8] Core Viewpoints - As of Q2 2025, institutional holdings in bank stocks have increased, primarily driven by passive investments, with limited growth in active public fund holdings. The overall chip structure remains healthy, with shares of state-owned banks and city commercial banks favored due to their low valuations or strong fundamentals [1][2] - The report suggests a continued positive outlook for the banking sector, emphasizing a long-term bullish trend rather than a mid-cycle correction. It recommends focusing on state-owned banks in 2024 and improving banks in economically developed regions in 2025, while also highlighting value-oriented banks with state-owned enterprise backgrounds in the Hong Kong market [5][6] Summary by Sections Overall Holdings - By the end of Q2 2025, the proportion of bank stocks held by public funds and northbound funds increased by 8.5% compared to Q1 2025, with a 0.7 percentage point rise in the proportion of free-floating shares. The main contributors to this increase were passive funds, while active public funds showed limited growth [1] - The holdings of small and medium-sized banks increased, with state-owned banks, joint-stock banks, city commercial banks, and rural commercial banks seeing respective increases of 0.1, 1.2, 1.0, and 0.6 percentage points in their institutional holdings [1] Individual Bank Performance - The banks with the largest increases in institutional holdings include Minsheng, CITIC, Ping An, Chongqing, and Yunnan Agricultural Bank, with respective increases in the proportion of free-floating shares of 3.2, 2.9, 2.7, 2.6, and 2.6 percentage points [2] Northbound Funds - Northbound funds maintained stable holdings, with a 2.3% increase in the number of shares held by the end of Q2 2025. The proportion of holdings in state-owned banks and joint-stock banks increased, while rural commercial banks experienced a notable outflow [3] Passive Public Funds - Passive holdings continued to rise, with a 39.0% increase in the number of bank stocks held by index funds by the end of Q2 2025, driven by index expansions and weight adjustments [4] Active Public Funds - Active public fund holdings increased by 6.3%, with a slight rise in the proportion of free-floating shares. However, the overall growth was below expectations, with significant increases in holdings of low-valuation or fundamentally strong joint-stock banks and city commercial banks [5]

本 公 告 僅 供 參 考，並 不 構 成 收 購、購 買 或 認 購 證 券 之 邀 請 或 要 約。本 公 告 並 不 構 成 或 組 成 在 美 國 境 內 提 呈 發 售 或 招 攬 購 買 或 認 購 任 何 證 券 之 建 議。本 公 告 所 述 證 券 概無且不會根據經修訂的1933年《美 國 證 券 法》（「證券法」）或 美 國 任 何 州 的 證 券 法 登 記。除 根 據 證 券 法 獲 豁 免 或 屬 不 受 該 等 登 記 規 定 所 規 限 之 外，證 券 不 可 在 美 國 境 內 提 呈 發 售 或 出 售。本 公 告 及 其 所 含 資 料 不 得 直 接 或 間 接 在 或 向 美 國 境 內 進 行 分 發。本 公 告 所 述 證 券 不 可 且 不 會 在 美 國 提 呈 公 開 發 售。 誠如日期為2025年7月21日 的 發 售 通 函 所 述，中 信 銀 行 股 份 有 限 公 司（「本 行」）已 向 香 港 聯 合 交 易 所 有 限 公 司 提 出 申 請，以 僅 向 專 業 投 資 者（定 義 見 香 港 聯 合 交 易 所 有 限公司證券上市規則第37章）發 ...

长沙晚报掌上长沙7月21日讯（通讯员 刘朝钰）7月19日，中信银行"少年看中国"主题活动长沙站乘风启航，本次 活动以"长安诗歌美学"为主题，带领亲子家庭精读《长安诗选》，为少年们开启一场关于穿越盛唐的视觉与心灵 盛宴。 携手中信出版集团，与中国少年共赴"阅读中国"之旅 "少年看中国"系列活动是中信银行携手中信出版集团打造的贵宾尊享"阅读中国"之旅沙龙活动，精选文化地理、 人文社科类书籍，邀请名家讲师深度分享好书。本次活动特邀《长安诗选》作者韩潇，带领现场的亲子家庭沿着 诗歌的脉络，重游那个兼容并蓄、气象万千的大唐。少年们全程互动热烈，与韩潇老师交流诗歌与历史文化，点 燃现场氛围。 不止于精彩内容展映，"少年看中国"长沙站还特别设计了沉浸式互动游戏以及作家签名会，少年们通过完成"长安 飞花令""贵妃的荔枝""投壶射礼"等任务，以寓教于乐的方式充分调动少年们的兴趣爱好。"希望我们的活动能激 发少年们对阅读的兴趣。陪中国少年看中国河山，滋养少年成长、开拓少年视野，是我们打造'少年看中国'系列 主题活动的初心。"中信银行长沙分行相关负责人表示。 锚定少年成长，打磨亲子家庭专属服务体系 亲子客群是银行精细化客群运营的重 ...

Core Viewpoint - The article discusses the efforts of China CITIC Bank's Nanchang Hongcheng Branch to uphold the legal status of the Renminbi and ensure the public's right to use cash, by conducting a campaign against the refusal of cash payments and promoting cash circulation [1][2]. Group 1: Campaign Activities - The bank has launched a comprehensive campaign in cash management areas to address the refusal of cash and promote awareness of relevant laws [1]. - Staff engaged with local communities, merchants, and residents to educate them about the legal implications of refusing cash payments and the importance of respecting cash payment rights [1][2]. - A multi-faceted promotional approach was adopted, combining online and offline methods, including setting up consultation desks, distributing brochures, and using social media platforms to disseminate information [1]. Group 2: Merchant Engagement and Compliance - Bank staff conducted thorough inspections of merchants in cash management areas to identify instances of cash refusal and provided guidance for rectification [2]. - The initiative included understanding the cash usage needs of merchants and residents, offering services such as small change and damaged currency exchanges [2]. - The campaign received positive feedback from merchants and residents, enhancing public awareness of the Renminbi's legal status and reinforcing the importance of cash payment rights [2]. Group 3: Future Plans - The bank plans to continue its efforts in combating cash refusal, improving cash management mechanisms, and increasing the frequency of promotional activities and inspections [2]. - The goal is to maintain the legal status of the Renminbi and provide high-quality, convenient cash services to the public, fostering a safe and efficient cash circulation environment [2].

Group 1 - The company, CITIC Bank, announced a plan to issue bonds to professional investors, with a total amount of 5 billion USD [1] - The bond issuance will be in the form of a 12-month medium-term note program [1] - The program is expected to become effective on July 22, 2025 [1]