智通财经APP讯，工商银行(01398)发布公告，经相关监管机构批准，中国工商银行股份有限公司2025年 总损失吸收能力非资本债券(第一期)(债券通)已于近日在全国银行间债券市场发行完毕。 本期债券发行规模为人民币100亿元，品种为4年期固定利率品种，在第3年末附有条件的发行人赎回 权，票面利率为2.02%。 本期债券募集资金在扣除发行费用后，将依据适用法律和主管部门的批准用于提升本行总损失吸收能 力。 ...

证券代码：601398 证券简称：工商银行 公告编号：临 2025-039 号 经相关监管机构批准，中国工商银行股份有限公司（简称本行）2025 年总 损失吸收能力非资本债券（第一期）（债券通）（简称本期债券）已于近日在全国 银行间债券市场发行完毕。 本期债券发行规模为人民币 100 亿元，品种为 4 年期固定利率品种，在第 3 年末附有条件的发行人赎回权，票面利率为 2.02%。 本期债券募集资金在扣除发行费用后，将依据适用法律和主管部门的批准用 于提升本行总损失吸收能力。 特此公告。 中国工商银行股份有限公司董事会 二〇二五年十月二十四日 中国工商银行股份有限公司 关于 2025 年总损失吸收能力非资本债券 （第一期）（债券通）发行完毕的公告 中国工商银行股份有限公司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。 ...

關 於 2025 年總損失吸收能力非資本債券 （ 第 一 期 ）（ 債 券 通 ）發 行 完 畢 的 公 告 經相關監管機構批准，中國工商銀行股份有限公司（「本行」）2025年總損失吸收能力非 資本債券（第一期）（債券通）（「本期債券」）已於近日在全國銀行間債券市場發行完畢。 本期債券發行規模為人民幣100億元，品種為4年期固定利率品種，在第3年末附有條件 的發行人贖回權，票面利率為2.02%。 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之內容概不負責，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份內容而產生或因倚賴該等內容而引致之任何損失承擔任 何責任。 中國工商銀行股份有限公司 INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED （於中華人民共和國註冊成立的股份有限公司） 股份代號：1398 特此公告。 中國工商銀行股份有限公司 董事會 中國，北京 2025年10月24日 於本公告刊發日期，董事會成員包括執行董事廖林先生、劉珺先生和王景武先生；非執行董事盧永真先生、 曹利群女士、董陽先生和鐘蔓桃女士；獨立非執行董事陳 ...

继10月11日因信贷业务违规被罚款1150万元后，近日，中国工商银行深圳市分行（下称"工行深圳市分行"）再收630万元大额罚单。两张罚单的总 金额1780万元。 10月23日，中国人民银行深圳市分行披露的罚单显示，工行深圳市分行因违反账户管理规定，违反清算管理规定，违反反假货币业务管理规定， 违反信用信息采集、提供、查询及相关管理规定，未按规定履行客户身份识别义务，与身份不明的客户进行交易等原因，被警告，并处罚款630万 元。 同时，深圳金融监管局处罚相关责任人，其中对周杰终身禁止从事银行业工作；对陈敬东、杨大鹏、郑铁军、余瑛给予警告并处10万元罚款，对 谢娜给予警告并处5万元罚款；对方晓伟、傅兴、黄天德、彭晓璇、麦勇昌、杨多平、陶巍、张弛、罗予才、蔡毓磊、季峻宇、刘玲、冯光华给予 警告。 公开信息显示，工行深圳市分行是中国工商银行辖属一级分行，成立于1984年。 而就在不久前的10月11日，深圳金融监管局亦对工行深圳市分行开出一张罚单，罚单金额达1150万元。 10月11日，深圳金融监管局公示罚单，工商银行深圳市分行被罚款1150万元，主要违法违规行为涉及贷款业务、保函业务三查违规；超越授权办 理业务；未执 ...

Group 1 - The Hang Seng Index rebounded, closing up 0.72%, with the internet sector leading the gains, followed by banking, industry, technology, and real estate sectors [1] - The internet sector saw a rise of 1.07%, with Meituan up 4.06%, Alibaba up 1.67%, Tencent Holdings up 1.52%, JD Group up 1.5%, and Baidu Group up 1.22%. However, companies like SenseTime, Bilibili, and Kingdee International experienced declines [3] - The banking sector opened strong and maintained a consolidation above the midline, closing up 0.88%, with Postal Savings Bank rising 4.59% and Minsheng Bank up 2.39% [3] Group 2 - The consumer sector rebounded, closing up 0.35%, with notable gains from companies like Chenzi Biological up 6.68%, Li Ning up 6.55%, and Sands China up 4.4% [3] - The healthcare sector opened low and saw a slight reversal near the end, closing down 1.31%, with CSPC Pharmaceutical down 2.96% and China Biopharmaceutical down 2.78% [3]

Core Points - The announcement from Industrial and Commercial Bank of China (ICBC) regarding system upgrades scheduled from October 25 to October 26, 2025, aims to enhance service quality [1] - During the upgrade, various banking services will be temporarily suspended, while others will remain operational [1] Summary by Category System Upgrade Details - The system upgrade will take place from October 25 to October 26, 2025, to improve service quality [1] - Online banking, mobile banking, self-service terminals, telephone banking, and corporate connectivity will continue to operate, but some specific services will be temporarily unavailable [1] Suspended Services - Personal mobile banking will suspend credit card issuance, limit adjustments, and installment services from October 25, 22:30 to 23:30 [1] - ICBC e-Life will halt asset diagnosis, rights exchange, personal risk assessment, and private banking client information queries from October 25, 23:00 to October 26, 01:00 [1] - Personal online banking will pause wish investment, automatic purchases, and other related services from October 25, 22:30 to 23:15 [1] - Corporate mobile banking will suspend various services including settlement package inquiries and fund aggregation from October 26, 04:00 to 06:00 [1] - Telephone banking for corporate clients will be unavailable for authentication and information queries from October 26, 04:00 to 06:00 [1] - Other services such as livelihood fund supervision and smart legal services will be suspended on October 25, 20:00 to 21:30 [1] - Maintenance of ICBC's service agreements across all channels will occur from October 26, 02:00 to 03:20 [1]

Core Viewpoint - The announcement highlights a partnership between Industrial and Commercial Bank of China (ICBC) and Everbright Wealth Management to enhance wealth management services for institutional investors [1] Group 1 - ICBC has signed a cooperation agreement with Everbright Wealth Management for the agency sales of wealth management products [1] - The collaboration aims to provide better financial services to a wide range of institutional investors [1]

Core Viewpoint - The credit card installment business of commercial banks is undergoing a period of stock competition and transformation adjustments, with banks like Everbright Bank and Industrial and Commercial Bank of China (ICBC) making significant changes to their installment services to focus on more standardized and risk-controlled products, responding to regulatory guidance on consumer debt [1][4]. Summary by Sections Business Adjustments - Everbright Bank announced it will discontinue its self-selected installment service starting December 9, 2025, affecting all new transactions, while existing installment agreements will remain unchanged [2][3]. - ICBC will adjust the installment periods for its credit card bill installment and consumption transfer installment services, eliminating options for 48 and 60 months, effective December 5, 2025, while maintaining options from 1 to 36 months [3][4]. Reasons for Adjustments - The adjustments aim to optimize risk structures and enhance business standardization, as flexible installment options complicate monitoring of fund usage and long-term debt management [4][5]. - The changes are also a response to high consumer leverage and declining consumer loan rates, addressing the mismatch between credit risk and returns associated with long-term installments [4][7]. Consumer Impact - The reduction in installment options may lead consumers to be more cautious in evaluating their financial situations before making purchases, potentially fostering healthier consumption habits [6][7]. - Banks are encouraged to innovate beyond mere adjustments, focusing on tailored installment services for specific consumption scenarios and enhancing financial health management tools for users [6][7]. Industry Implications - The adjustments by major banks are expected to trigger a chain reaction across the industry, leading to more institutions adopting similar risk control and compliance measures [7]. - The credit card installment market may see a shift from long-term, high-risk models to a more reasonable term structure, with competition focusing on risk management, user experience, and service capabilities [7].

Core Insights - The top three companies by Hong Kong Stock Connect holding ratios are China Telecom (71.06%), COSCO Shipping Energy (70.70%), and GCL-Poly Energy (69.65%) [1] - In the last five trading days, the largest increases in holding amounts were seen in China Mobile (+2.122 billion), Pop Mart (+1.922 billion), and InnoCare Pharma (+1.868 billion) [1] - Conversely, Alibaba (-3.735 billion), SMIC (-2.181 billion), and Laopuhuangjin (-1.048 billion) experienced the largest decreases in holding amounts [2] Group 1: Hong Kong Stock Connect Holding Ratios - China Telecom (00728) has a holding ratio of 71.06% with 9.863 billion shares [1] - COSCO Shipping Energy (01138) has a holding ratio of 70.70% with 916 million shares [1] - GCL-Poly Energy (01330) has a holding ratio of 69.65% with 282 million shares [1] - Other notable companies include China Shenhua (67.73%), Kaisa Group (67.65%), and China Southern Power Grid (66.07%) [1] Group 2: Recent Increases in Holdings - China Mobile (00941) saw an increase of +2.122 billion with a change of +24.9322 million shares [1] - Pop Mart (09992) increased by +1.922 billion with +8.2689 million shares added [1] - InnoCare Pharma (09606) rose by +1.868 billion with an increase of +6.2468 million shares [1] - Other companies with significant increases include Meituan (+1.614 billion), Xiaomi (+1.591 billion), and CNOOC (+1.476 billion) [1] Group 3: Recent Decreases in Holdings - Alibaba (09988) experienced a decrease of -3.735 billion with a reduction of -22.6890 million shares [2] - SMIC (00981) saw a decline of -2.181 billion with -29.4595 million shares sold [2] - Laopuhuangjin (06181) decreased by -1.048 billion with a drop of -1.5141 million shares [2] - Other companies with notable decreases include Innovent Biologics (-0.844 billion), China Hongqiao (-0.707 billion), and Jiangxi Copper (-0.670 billion) [2]

Industrial and Commercial Bank of China | Asia Pacific Research Tactical Idea We believe the share price will rise in absolute terms over the next 60 days. We expect banks' share prices to be supported by seasonal fund inflows and see more upside towards end-2025. Moderate but steady credit demand should stabilize financial asset yields and bank NIM, and support revenue and profit growth in the coming quarters. We see another quarter of positive profit growth at ICBC in 3Q25 and attractive return opportunit ...