证券代码：601998 证券简称：中信银行 公告编号：临2025-043 重要内容提示： 一、本次投资概述 为紧跟国家政策导向，写好"科技金融"大文章，持续加大对科创企业和民 营经济的支持力度，本行拟以自有资金出资 100 亿元人民币设立全资子公司信银 金融资产投资有限公司（暂定名，将以有关监管机构、市场监督管理部门核准的 名称为准）。 本行 2025 年 5 月 8 日召开的董事会审议通过《关于申请设立金融资产投资 公司的议案》，并授权本行高级管理层办理本次投资相关事宜。该议案的表决情 况为：有效表决票 8 票，赞成 8 票，反对 0 票，弃权 0 票。 本次投资不构成本行的关联交易或重大资产重组事项，无需提交股东大会批 准。 中信银行股份有限公司 关于投资设立金融资产投资公司的公告 二、投资标的基本情况 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。 信银金投注册资本金拟为人民币 100 亿元，本行以自有资金出资，持股比例 1 特此公告。 中信银行股份有限公司（以下简称"本行"）拟出资 100 亿元人民币设立全 资子公司信银 ...

证券代码：601998 证券简称：中信银行 公告编号：临2025-042 中信银行股份有限公司（简称"本行"）于2025年5月6日以书面形式发出有 关会议通知和材料，于2025年5月8日在北京市朝阳区光华路10号院1号楼中信大 厦以现场会议形式完成一次董事会会议召开并形成决议。本次会议应出席董事8 名，实际出席董事8名，其中，宋芳秀独立董事因公务委托廖子彬独立董事代为 出席并表决，胡罡、黄芳、王彦康、廖子彬、周伯文、王化成等6名董事以视频 方式参加会议。本次会议由方合英董事长主持，本行监事和高级管理人员列席了 会议。会议的召开符合《中华人民共和国公司法》等有关法律、行政法规、部门 规章、规范性文件和《中信银行股份有限公司章程》以及相关议事规则的规定。 根据表决结果，会议审议通过了以下议案： 一、审议通过《关于申请设立金融资产投资公司的议案》 中信银行股份有限公司董事会会议决议公告 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个别及连带责任。 表决结果：赞成8票 反对0票 弃权0票 董事会同意本行申请设立信银金融资产投资有限公司（暂定名， ...

Suspension and Resumption - Huina Technology's controlling shareholder Zhang Hongjun is planning to transfer shares, and the company will continue to be suspended from trading [1] Buybacks and Increases - Sichuan Changhong plans to repurchase company shares worth between 250 million to 500 million yuan for equity incentives [2] - Hainan Development's controlling shareholder and its concerted parties intend to increase their holdings of company shares by 100 million to 200 million yuan [3] - Changhong Meiling plans to repurchase shares worth between 150 million to 300 million yuan [11] - Changhong Huayi plans to repurchase shares worth between 150 million to 300 million yuan [11] - AVIC High-Tech plans to repurchase shares worth between 100 million to 200 million yuan [11] Investment Cooperation and Operational Status - Ningbo Huaxiang is collaborating with Xiangshan Industrial Investment and Shanghai Zhiyuan to strengthen cooperation in the robotics sector [4] - Naipu Mining plans to subscribe for equity in Switzerland's Veritas Resources AG to indirectly participate in the development of the San Matias project Alacran copper-gold-silver mine in Colombia [4] - China Shipbuilding Industry Corporation intends to issue A-shares to all shareholders of China Shipbuilding Heavy Industry Group as part of a merger application that has been accepted [4] - Citic Bank plans to invest 10 billion yuan to establish a financial asset investment company [5] - China Merchants Bank plans to invest 15 billion yuan to establish a financial asset investment company [6] - Pinggao Electric has won a procurement project from the State Grid, with a total bid amount of 1.751 billion yuan [7] - Jinchengxin plans to invest 231 million USD in the Alacran copper-gold-silver mine project and intends to acquire 5% equity in Colombia's CMH company for 10 million USD to gain control [7] - Tangrenshen's pig sales in April increased by 37.98% year-on-year [8] - FAW Fuwi has secured a seat project from a well-known luxury brand manufacturer worth 1.39 billion yuan [9] Performance Changes - SMIC's net profit for Q1 2025 is 1.356 billion yuan, a year-on-year increase of 166.5%. The company expects a revenue decline of 4% to 6% in Q2, with a gross margin guidance of 18% to 20%. The capacity utilization rate in Q1 rose to 89.6%, an increase of 4.1 percentage points [10]

Group 1 - The bond market's "Technology Board" was officially launched on May 8, with the first batch of 15 national technology innovation bonds announced for issuance [1] - CITIC Bank acted as the lead underwriter for 9 of the 15 projects, demonstrating its significant role in this initiative [1] - The introduction of the "Technology Board" is seen as a major innovation in financial services for technological innovation, which is expected to profoundly reshape the domestic technology finance and capital market system [1]

Core Insights - The article highlights the innovative financial services provided by CITIC Bank's Xinxiang branch to support the high-quality development of foreign trade enterprises in the region [1][2] - The collaboration with the State Administration of Foreign Exchange (SAFE) has enabled the bank to address key challenges faced by foreign trade companies, such as financing difficulties, slow settlement, and high exchange rate risks [1] Group 1: Financial Innovations - CITIC Bank Xinxiang branch has introduced new business models such as offshore service trade, export credit insurance financing, and free trade zone EFE accounts to meet the specific needs of enterprises [1] - The bank successfully facilitated efficient fund settlement for a local enterprise engaged in offshore trade, ensuring the effective operation of its offshore factory [1] Group 2: Support for SMEs - The bank, in collaboration with SAFE, launched a new export credit insurance financing service to alleviate the long payment terms and slow capital turnover faced by small and medium-sized foreign trade enterprises [1] - A new materials export company received financing support of 241,000 yuan based on its export credit insurance policy, showcasing the effectiveness of this financing model [1] Group 3: EFE Account Implementation - CITIC Bank Xinxiang branch opened an EFE account for a leading equipment manufacturing enterprise, enabling "two-way free flow" of cross-border funds [2] - The bank actively promoted the advantages of the EFE account and successfully assisted a subsidiary in Hainan to establish this account, enhancing the company's cross-border financial services [2] Group 4: Future Outlook - The bank plans to continue deepening its collaboration with SAFE to drive financial innovation and support the high-quality development of foreign trade enterprises in Xinxiang [2] - The focus will be on leveraging policy advantages to create a new inland open highland for foreign trade [2]

披露了个人贷款项目数据的上市股份行一季报里，个贷同比增速均低于各项贷款增速，成了一个很难忽略 的共性。 多家曾经高举零售大旗的股份行，一季度个贷余额不增反降。即便实现正增长，增幅也很有限。进一步拆解财 报，消费贷和信用卡等业务还未成规模回暖，成了个贷的主要拖累项。 个贷增长吃力，甚至下降 在一季报里详述个贷科目的上市股份行不多，比如浦发、华夏、光大、浙商等银行均未披露。在有据可查的招 行、中信、平安、兴业、民生等银行一季报里，一个集体特征浮出水面——个人贷款余额同比增速均低于同期 全行贷款增速。 各家银行在一季报里披露的数据不够详实。在有限的个贷结构数据维度里，我们可以合理推测，表现较为疲弱 的消费贷和信用卡是相关银行个贷不及全行贷款表现的拖累项。 什么意思？这些银行个贷"投不动了"，贷款整体的增长主要是靠对公拉动的。 先来看招行。截至一季度末，招行零售贷款为36585.78亿元，较上年末增加139.53亿元，增幅仅为0.38%。而 同期，招行全行的贷款和垫款总额为71254.79亿元，较上年末增长3.44%。 招行的说法是，一季度居民消费仍在逐步复苏，所以该行持稳健"审慎"原则，推动零售贷款平稳运行。 再来 ...

Core Viewpoint - The performance of A-share listed banks in 2024 shows a divergence among the top three joint-stock banks, with China Merchants Bank experiencing revenue decline while Industrial Bank and CITIC Bank achieved growth in both revenue and net profit [1][3][18]. Group 1: Financial Performance Comparison - China Merchants Bank reported an asset scale of 12.15 trillion with a growth rate of 10.19%, but its revenue decreased by 0.48% to 337.49 billion, and net profit increased by 1.22% to 148.39 billion [2][3]. - Industrial Bank's asset scale reached 10.51 trillion, with a growth rate of 3.44%, revenue of 212.23 billion (up 0.66%), and net profit of 77.21 billion (up 0.12%) [2][3]. - CITIC Bank's asset scale was 9.53 trillion, with a growth rate of 5.28%, revenue of 213.65 billion (up 3.76%), and net profit of 68.58 billion (up 2.33%) [2][3]. Group 2: Market Position and Strategy - The top three banks—China Merchants Bank, Industrial Bank, and CITIC Bank—are positioned as leaders in the joint-stock banking sector, each with unique strengths: China Merchants Bank excels in retail and wealth management, while Industrial Bank and CITIC Bank focus on corporate business and investment banking [1][3][29]. - The competitive landscape is shifting, with the top three banks solidifying their positions, while other banks like Pudong Development Bank and Minsheng Bank struggle with performance [1][32][39]. Group 3: Revenue and Profitability Trends - The net interest margin for China Merchants Bank decreased by 17 basis points to 1.98%, while Industrial Bank and CITIC Bank saw smaller declines of 11 and 1 basis points, respectively [10][28]. - Fee and commission income for China Merchants Bank fell significantly by 14.28% to 72.09 billion, while Industrial Bank and CITIC Bank experienced smaller declines of 13.18% and 3.96% [17][28]. Group 4: Business Structure and Risk Exposure - The shift in the banking sector shows that banks with a higher proportion of corporate loans, like Industrial Bank and CITIC Bank, are less affected by the downturn in retail banking, which has seen increased bad debts [24][25]. - China Merchants Bank's reliance on retail banking has led to greater exposure to risks, as evidenced by rising non-performing loans and declining loan yields [22][27]. Group 5: Future Outlook - The competition among the top three banks is expected to intensify, with each bank focusing on its core strengths while navigating the challenges posed by the economic environment [31][39]. - Despite current challenges, China Merchants Bank maintains a strong overall position due to its substantial asset base and superior key metrics compared to its peers [27][36].

Core Insights - CITIC Bank reported a slight increase in revenue and net profit for 2024, with revenue growing by 3.76% and net profit by 2.33%, but these growth rates are at near historical lows [2][3] - The bank's net interest income increased by only 2.19%, and its net interest margin has declined for four consecutive years, reaching 1.77% [6][10] - Non-interest income accounted for 31.3% of total income, but fee income fell by 3.96%, indicating reliance on volatile investment income which grew by 13.3% [10][11] Group 1: Traditional Business Pressure - CITIC Bank's net profit growth has significantly slowed compared to previous years, with a drop from 7.91% in 2023 to 2.33% in 2024 [2][3] - The bank's net interest margin has consistently decreased from 2.26% in 2020 to 1.77% in 2024, ranking fourth among joint-stock banks [6][9] - The bank's interest income was reported at 146.68 billion yuan, with a slight increase attributed to a 4.03% growth in loan volume [10][11] Group 2: Investment as a Key Revenue Driver - To counteract the pressure on net interest margin, CITIC Bank increased its financial investment ratio from 23.5% in 2020 to 27.8% in 2024, with investment income now making up 49% of non-interest income [11][13] - Investment net income reached 29.27 billion yuan, a year-on-year increase of 13.3%, but cash flow from investment activities was negative at -29.53 billion yuan, indicating higher expenditures than returns [13][14] - The bank's reliance on investment income has led to increased volatility in earnings, with fair value changes showing a significant increase of 629.94% [13][14] Group 3: Accumulating Non-Performing Loan Risks - As of the end of 2024, CITIC Bank's non-performing loan balance rose to 66.485 billion yuan, an increase of 2.6% year-on-year [16][17] - The proportion of special mention loans increased to 1.64%, indicating potential risk accumulation [16][17] - The bank's real estate loan non-performing rate was reported at 2.21%, exceeding the industry average, with real estate loans making up 9.81% of total loans [17][18]

Group 1: Total Assets and Structure - The total assets of the 12 national joint-stock banks exceed 15 trillion yuan, with two banks surpassing 10 trillion yuan and five banks between 5 trillion and 10 trillion yuan [2][3] - China Merchants Bank leads with total assets of 12.15 trillion yuan, followed by Industrial Bank at 10.51 trillion yuan [2][3] - All banks showed positive growth in total assets compared to the end of 2023, with China Merchants Bank having the highest growth rate of 10.19% [2][3] - Loans constitute the majority of total assets, with CITIC Bank having the highest loan-to-asset ratio at 60.01% [2][3] Group 2: Liabilities and Structure - The ranking of total liabilities mirrors that of total assets, with deposits being the primary source of liabilities for the banks [4][5] - China Merchants Bank has the highest deposit-to-liability ratio at 83.31%, indicating strong deposit-raising capability [4][5] - Four banks, including Industrial Bank and Minsheng Bank, have deposit ratios below 60%, with Huaxia Bank having the lowest at 53.64% [4][5] Group 3: Operating Income and Structure - China Merchants Bank reported operating income of 337.49 billion yuan, the highest among the banks, surpassing even the state-owned Bank of Communications [7][8] - Six banks experienced negative growth in operating income, with Ping An Bank showing the largest decline at 10.93% [8][10] - Net interest income remains the primary source of revenue, with Hengfeng Bank having the highest proportion of net interest income to operating income at 80.55% [8][10] Group 4: Net Profit Analysis - China Merchants Bank achieved a net profit of 149.56 billion yuan, the largest among the banks, nearly double that of the second-ranked Industrial Bank [14][15] - Four banks, including Minsheng and Guangfa, reported negative growth in net profit, with Minsheng Bank experiencing the largest decline at 9.07% [15][17] Group 5: Net Interest Margin and Quality - All banks reported a net interest margin below 2%, with China Merchants Bank having the highest at 1.98% [18][19] - The non-performing loan ratio for China Merchants Bank is the lowest at 0.95%, while Bohai Bank has the highest at 1.76% [19][20] - Provision coverage ratio for China Merchants Bank is significantly higher at 411.98%, compared to the second-highest, Ping An Bank, at 250.71% [19][20]

证券代码： 601998 证券简称：中信银行 公告编号：临 2025-041 中信银行股份有限公司 关于变更保荐代表人的公告 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。 中国国际金融股份有限公司（以下简称"中金公司"）为中信银行股份有限 公司（以下简称"本行"）向原 A 股股东配售股份项目（以下简称"本次项目"） 的联席保荐机构。中金公司原委派艾雨先生、周银斌先生担任本次项目的保荐 代表人。 近日，本行收到中金公司通知，艾雨先生、周银斌先生因工作变动，不再 担任本次项目的保荐代表人。为保证本次项目工作的顺利推进，中金公司现委 派李义刚先生、周玉女士（简历见附件）接替艾雨先生、周银斌先生担任本次 项目的保荐代表人，本行本次项目的保荐代表人变更为李义刚先生、周玉女士。 2025 年 5 月 6 日 1 附件： 1、李义刚先生简历 李义刚，男，保荐代表人，现任中金公司投资银行部副总经理，曾担任合 肥晶合集成电路股份有限公司 A 股 IPO 项目的保荐代表人，曾参与多个保荐类 业务项目，在保荐业务执业过程中严格遵守《证券发行上市保荐 ...