Core Viewpoint - The credit card industry in China is experiencing a significant transformation, shifting from expansion to a focus on quality and efficiency, as evidenced by the increasing number of banks discontinuing co-branded credit card products [12][19]. Group 1: Market Trends - Since January 1, 2025, at least seven major banks have announced the discontinuation of at least 22 co-branded credit card products, indicating a trend of product adjustments in the credit card market [2][6]. - Major banks, including China Bank and Citic Bank, have stopped issuing various co-branded credit cards, with reasons primarily cited as "business adjustments" or "contract expiration" [4][6]. Group 2: Product Adjustments - Co-branded credit cards, which are partnerships between banks and profit-oriented institutions, are being phased out due to their unsustainable cooperation models and imbalanced overall returns [9][10]. - Banks are transitioning to standard credit cards for existing co-branded cardholders, with changes in reward structures and benefits [4][6]. Group 3: Regulatory Environment - The regulatory framework has tightened, with new guidelines from the former CBIRC and the People's Bank of China mandating banks to focus on quality over quantity in credit card issuance [10][12]. - The new regulations require banks to limit the ratio of dormant credit cards to no more than 20%, prompting a reevaluation of credit card strategies [10][12]. Group 4: Consumer Behavior - The credit card market is increasingly catering to younger consumers, who have diverse interests and consumption needs, necessitating banks to innovate and tailor products accordingly [18][19]. - The decline in credit card issuance and usage reflects a broader trend of market saturation and the need for banks to refine their customer engagement strategies [12][13]. Group 5: Future Outlook - The discontinuation of co-branded credit cards is seen as a necessary step towards a more refined and efficient credit card business model, focusing on high-value customer segments and innovative product offerings [15][19]. - The industry is expected to evolve towards precision marketing and enhanced customer experiences, leveraging digital technologies and data analytics [7][19].

此次增资完成后，中信金租资本实力将跻身金融租赁行业第一梯队。数据显示，截至2024年末，全国金 融租赁公司数量为71家，其中注册资本超百亿元的不足10家，包括交银金租（200亿元）、工银金融租 赁（180亿元）、国银金融租赁（126亿元）、招银金租（120亿元）等头部机构。中信金租加入"百亿俱 乐部"，不仅提升了自身的市场地位，也加剧了行业内的竞争态势。这反映了金融租赁行业近年来资本 加速集中的趋势，大型租赁公司凭借更强的资本实力，在获取优质项目、抵御风险方面具有明显优势。 中信银行7月18日发布公告，宣布其全资子公司中信金融租赁有限公司（以下称"中信金租"）已完成60 亿元增资及工商变更登记，注册资本从40亿元大幅提升至100亿元。 此次增资采取"现金+利润转增"的模式，其中30亿元来自中信银行直接注资，另外30亿元则通过未分配 利润转增完成。这种双轨并行的增资方式在业内颇具示范意义，既体现了母公司对子公司发展的大力支 持，又展现了中信金租自身强劲的盈利能力和资本积累。这一显著的动作，不仅标志着中信金租资本实 力的质的飞跃，更在当前金融行业竞争加剧、监管要求趋严的背景下，释放出中信银行深化布局金融租 赁板块 ...

Core Viewpoint - The event organized by Citic Bank's Guiyang branch and the local police department aimed to raise awareness about fraud prevention through an innovative outdoor cinema experience, combining entertainment with education [1][3][5] Group 1: Event Details - The "outdoor anti-fraud cinema" was set up in the Shanshui Qiancheng community, featuring a prominent display of anti-fraud materials for residents to access [1] - The event included the screening of a video based on real fraud cases, which helped residents understand the dangers of scams [3] - Interactive knowledge quizzes engaged residents, fostering a lively atmosphere and enhancing their understanding of fraud prevention [3] Group 2: Community Engagement - The initiative attracted many residents, who appreciated the combination of film and educational content, leading to a warm and meaningful learning environment [3] - Feedback from attendees indicated a newfound awareness of the various types of scams, highlighting the effectiveness of the event in delivering crucial information [3] Group 3: Future Commitment - Citic Bank's Guiyang branch expressed its commitment to continue innovating in public education on financial safety, aiming to reach more residents with accessible and engaging methods [5] - The event reflects the bank's dedication to social responsibility and its promise to protect the financial security of the community [5]

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）于 2025 年 2 月 20 日召开董事会会 议，审议通过《关于中信金融租赁有限公司资本补充方案的议案》，同意对全资 子公司中信金融租赁有限公司（以下简称中信金租）增资人民币 30 亿元，并同 意其将人民币 30 亿元未分配利润转增注册资本（以下简称本次增资）。相关情 况详见本行于 2025 年 2 月 21 日在上交所网站（www.sse.com.cn）和本行网站 （www.citicbank.com）披露的《中信银行股份有限公司董事会会议决议公告》和 《中信银行股份有限公司关于向中信金融租赁有限公司增资及其未分配利润转 增注册资本的公告》。 近日，本行收到中信金租通知，其已根据《天津金融监管局关于中信金融租 赁有限公司变更注册资本的批复》（津金复〔2025〕202 号），完成增资及注册 资本变更登记等相关法定变更手续，并取得换发后的营业执照。营业执照所载中 信金租注册资本由人民币 40 亿元变更为人民币 100 亿元。 证券代码：60199 ...

Core Viewpoint - The article emphasizes the importance of strengthening the party's organizational structure and enhancing the capabilities of party members at CITIC Bank's Beijing branch to meet diverse financial needs and contribute to high-quality economic development in the capital [1]. Group 1: Education and Training - CITIC Bank's Beijing branch focuses on enhancing the political theory level of its party members through various training programs, including immersive teaching and visits to historical sites [6]. - The branch implements a combination of individual and group learning methods to ensure the effectiveness of party member education, aligning with national guidelines [5][6]. - Continuous learning and practical application of Xi Jinping's thoughts are encouraged among party members to improve their political stance and professional skills [6][10]. Group 2: Organizational Development - The branch has over 1,400 party members and 200 active applicants, with a structured and quality-focused approach to developing its party member base [7]. - A strict mechanism for managing and supervising party members is in place to maintain the integrity and effectiveness of the party [8]. - The branch promotes a culture of excellence and continuous improvement among its members, ensuring that political standards are prioritized in the development process [7][8]. Group 3: Practical Application and Community Engagement - The branch actively engages in community service initiatives, addressing the needs of employees and customers, and enhancing service quality [10]. - A "Party Member Pioneer Team" has been established to lead efforts in supporting the real economy and protecting consumer rights [10]. - As of June 2025, the branch reported a significant increase in loans, demonstrating the effectiveness of its initiatives in driving high-quality development [10]. Group 4: Integration of Party and Business - The branch aims to integrate party building with business operations, ensuring that both aspects are planned, deployed, and executed together [11]. - The focus is on creating a robust service ecosystem that leverages the strengths of the CITIC Group to enhance financial services [11]. - The branch's commitment to Xi Jinping's thoughts and the central financial work meeting's spirit is highlighted as a guiding principle for its operations [11].

Core Viewpoint - The incident involving the loan intermediary "Xin Xin Hui Lin" has prompted a collective response from multiple banks in Shenzhen, emphasizing the need for consumer awareness against false advertising and the importance of regulatory compliance in the financial sector [1][3][12]. Group 1: Incident Overview - Multiple banks, including Bank of China, Agricultural Bank of China, and others, have publicly distanced themselves from the loan intermediary "Xin Xin Hui Lin," clarifying that there is no partnership and warning consumers about misleading advertisements [1][3]. - As of July 17, a total of 20 banks have issued statements against "Xin Xin Hui Lin," which falsely claimed partnerships with these banks and advertised services such as "interest rate optimization" [3][12]. - "Xin Xin Hui Lin" acknowledged its lack of authorization from banks and stated that it has completed a comprehensive rectification of its advertising practices following warnings from banks and regulatory bodies [1][4]. Group 2: Business Practices and Consumer Risks - The intermediary's advertisements included claims of low-interest rates and partnerships with multiple banks, which were found to be misleading, as the banks confirmed no such collaborations existed [3][4]. - The company offered services that included "debt optimization" and "interest rate reduction," which are not widely endorsed in the financial industry due to potential risks to consumers [9][10]. - Consumers were often charged additional fees for services that were not clearly disclosed, leading to concerns about the transparency of the intermediary's business practices [9][10]. Group 3: Regulatory and Industry Response - The incident has highlighted the ongoing issues with illegal loan intermediaries misrepresenting themselves as banks, prompting regulatory bodies to take action against such practices [12][13]. - Experts suggest that the collective statements from banks serve as a necessary measure for compliance and brand protection, potentially deterring future misconduct by intermediaries [13][14]. - The need for a collaborative approach between regulators and financial institutions is emphasized to establish a monitoring and enforcement mechanism against fraudulent practices in the loan intermediary sector [13][14].

Core Viewpoint - Recent statements from multiple banks in Shenzhen clarify that they have no cooperation with illegal loan intermediaries, specifically naming Xin Xin Hui Lin as a problematic entity, amid intensified regulatory actions against financial "black and gray industries" [1][3][6]. Group 1: Bank Statements and Regulatory Actions - Approximately 15 banks, including major institutions like Bank of China and Agricultural Bank of China, issued statements denying any collaboration with illegal intermediaries [3][6]. - The collective statements from banks are closely linked to ongoing regulatory efforts to combat financial "black and gray industries," with a focus on illegal loan intermediaries and debt evasion [7][9]. - Regulatory bodies have intensified their crackdown on illegal financial practices, with specific actions targeting loan intermediaries, insurance fraud, and improper debt collection [7][9]. Group 2: Issues with Xin Xin Hui Lin - Xin Xin Hui Lin has been accused of misleading advertising, claiming to lower loan interest rates from 4.5% to 2.5%, which raises concerns about exaggerated marketing tactics [1][11]. - The company has been reported to use aggressive marketing strategies, including misleading advertisements in community areas, to create a false impression of partnerships with banks [11][13]. - Despite its claims of cooperation with several major banks, Xin Xin Hui Lin's assertions have been contradicted by the banks' public denials [13][14]. Group 3: Emerging Trends in the Loan Intermediary Market - New trends in the loan intermediary market include the use of deceptive marketing practices, such as false claims of bank partnerships and exaggerated loan benefits [15][16]. - There is a notable increase in "high appraisal, high loan" operations, where intermediaries artificially inflate property valuations to secure larger loans for clients [16][17]. - This practice has created a complete industry chain, allowing clients to obtain loans significantly exceeding the actual property value, leading to potential financial risks [16][17].

Core Viewpoint - The China Securities Index for Hong Kong, Shanghai, and Shenzhen Dividend Growth Low Volatility Index (SHS Dividend Growth LV) has shown positive performance trends, with a 1.64% increase over the past month, 9.07% over the past three months, and an 8.71% increase year-to-date [1]. Group 1: Index Performance - The SHS Dividend Growth LV Index opened lower but closed higher, down 0.23% at 7477.8 points with a trading volume of 37.679 billion yuan [1]. - The index is composed of 100 securities selected from the mainland and Hong Kong markets, focusing on companies with continuous cash dividends, stable profit growth, and low volatility [1]. Group 2: Index Holdings - The top ten holdings in the SHS Dividend Growth LV Index include major banks such as China Construction Bank (2.5%), Postal Savings Bank (2.14%), and Industrial and Commercial Bank of China (1.85%) [1]. - The index's market allocation shows that the Shanghai Stock Exchange accounts for 55.01%, the Hong Kong Stock Exchange for 24.53%, and the Shenzhen Stock Exchange for 20.46% [2]. Group 3: Sector Allocation - The sector distribution of the index indicates that the financial sector holds the largest share at 45.02%, followed by industrial (19.67%) and healthcare (7.71%) sectors [2]. - Other sectors represented include consumer discretionary (7.22%), communication services (6.68%), utilities (5.44%), materials (4.59%), energy (1.96%), and consumer staples (1.70%) [2]. Group 4: Index Adjustment and Fund Tracking - The index samples are adjusted biannually, with changes implemented on the next trading day following the second Friday of June and December [2]. - Public funds tracking the SHS Dividend Growth LV Index include several funds managed by Invesco Great Wall [2].

Core Viewpoint - The report provides an overview of the performance and management of the China Merchants Index Bank Securities Investment Fund for the second quarter of 2025, highlighting its investment strategy, financial performance, and compliance with regulations. Fund Product Overview - The fund is a passive index fund that aims to track the China Securities Bank Index, with a target tracking error of no more than 0.35% and an annual tracking error of no more than 4% [2][3]. - The fund employs a full replication method to construct its stock portfolio based on the composition and weight of the index constituents [2][3]. - The fund's performance benchmark is a combination of 95% of the China Securities Bank Index return and 5% of the benchmark interest rate for RMB demand deposits [2][3]. Financial Indicators and Fund Net Value Performance - For the reporting period, the A class shares achieved a net value growth rate of 11.58%, while the benchmark growth rate was 10.39% [8]. - The C class shares recorded a net value growth rate of 11.56%, also against a benchmark of 10.39% [8]. - The E class shares had a net value growth rate of 11.51% during the same period [8]. - The fund's overall performance over the past three months, six months, and one year shows significant growth, with the one-year growth rate reaching 36.00% for A class shares [3][8]. Management Report - The fund manager emphasizes adherence to legal regulations and internal policies, ensuring fair investment opportunities across all portfolios [6][7]. - The fund's investment strategy includes strict risk management and compliance with investment guidelines, with no significant abnormal trading activities reported during the period [7][8]. - The fund maintained a stable operation with a portfolio position of approximately 94.5% during the reporting period, successfully tracking the benchmark [7][8]. Investment Portfolio Report - The fund's total assets include approximately 1.36 billion RMB in stocks, accounting for 89.52% of the total assets, and a small portion in bonds [9][10]. - The fund's top ten securities primarily consist of major banks, reflecting its focus on the banking sector [13][15]. - The fund did not hold any restricted stocks or convertible bonds during the reporting period [12][16].

Core Viewpoint - The banking sector is tightening its collaboration with loan intermediaries amid increasing regulatory scrutiny, with several banks publicly denying any association with illegal loan intermediaries, particularly naming "Xin Xin Hui Lin" as a problematic entity [1][2][4]. Group 1: Regulatory Actions - Regulatory authorities, including the Ministry of Public Security and the Financial Regulatory Bureau, have launched a special campaign to combat illegal loan intermediaries and related financial crimes, focusing on four main areas: illegal loan intermediary services, malicious debt evasion, illegal insurance claims, and improper debt collection practices [4][5]. - The Shenzhen Financial Regulatory Bureau has emphasized that addressing illegal loan intermediaries is a key focus of their work [4]. Group 2: Bank Responses - Approximately 15 banks in Shenzhen, including major institutions like Bank of China and Agricultural Bank of China, have issued statements clarifying that they do not collaborate with illegal intermediaries [2][4]. - Banks are enhancing their management of intermediary partners, with some institutions completely halting cooperation with loan intermediaries and conducting strict internal audits to prevent collusion [5][6]. Group 3: Issues with Loan Intermediaries - "Xin Xin Hui Lin" has been accused of misleading marketing practices, claiming to lower loan interest rates from 4.5% to 2.5%, which raises concerns about exaggerated claims [1][8]. - The company has been reported to use aggressive marketing tactics, including misleading advertisements in public spaces, to create the illusion of partnerships with banks [9]. - New trends in the loan intermediary market include the use of fraudulent marketing practices to attract consumers and the manipulation of property valuations to secure excessive loans [10].