北京商报讯（记者宋亦桐）7月30日，天津银行发布公告，经该行2024年第二次临时股东会审议通过， 经中国人民银行批准，该行于全国银行间债券市场发行了"天津银行股份有限公司2025年科技创新债 券"（以下简称"本期债券"）。 本期债券于2025年7月28日簿记建档，于2025年7月30日发行完毕，并于2025年7月30日正式起息。本期 债券发行总规模为人民币30亿元，品种为五年期固定利率债券，票面利率为1.80%。 据悉，本期债券发行的募集资金将用于投向《金融"五篇大文章"总体统计制度（试行）》中规定的科创 领域，包括发放科技贷款、投资科技创新企业发行的债券等，专项支持科技创新领域业务。 （文章来源：北京商报） ...

天津银行(01578)发布公告，该行于全国银行间债券市场发行了"天津银行股份有限公司2025年科技创新 债券"。本期债券于2025年7月28日簿记建档，于2025年7月30日发行完毕，并于2025年7月30日正式起 息。 本期债券发行的募集资金将用于投向《金融"五篇大文章"总体统计制度(试行)》中规定的科创领域，包 括发放科技贷款、投资科技创新企业发行的债券等，专项支持科技创新领域业务。 本期债券发行总规模为人民币30亿元，品种为五年期固定利率债券，票面利率为1.80%。 ...

格隆汇7月30日丨天津银行(01578.HK)公布，经该行2024年第二次临时股东会审议通过，经中国人民银 行批准，该行于全国银行间债券市场发行了「天津银行股份有限公司2025年科技创新债券」。该期债券 于2025年7月28日簿记建档，于2025年7月30日发行完毕，并于2025年7月30日正式起息。 该期债券发行的募集资金将用于投向《金融「五篇大文章」总体统计制度(试行)》中规定的科创领域， 包括发放科技贷款、投资科技创新企业发行的债券等，专项支持科技创新领域业务。 该期债券发行总规模为人民币30亿元，品种为五年期固定利率债券，票面利率为1.80%。 ...

本期债券发行的募集资金将用于投向《金融"五篇大文章"总体统计制度(试行)》中规定的科创领域，包 括发放科技贷款、投资科技创新企业发行的债券等，专项支持科技创新领域业务。 智通财经APP讯，天津银行(01578)发布公告，该行于全国银行间债券市场发行了"天津银行股份有限公 司2025年科技创新债券"。本期债券于2025年7月28日簿记建档，于2025年7月30日发行完毕，并于2025 年7月30日正式起息。 本期债券发行总规模为人民币30亿元，品种为五年期固定利率债券，票面利率为1.80%。 ...

BANK OF TIANJIN CO., LTD.* 天津銀行股份有限公司 * （於中華人民共和國註冊成立的股份有限公司） （股份代號：1578） 自願性公告 關於科技創新債券發行的公告 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，概不對因本公告全部或任何部分內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 中國天津 2025年7月30日 於本公告日期，本行董事會包括執行董事于建忠先生、吳洪濤先生、鄭可先生及 董曉東女士；非執行董事董光沛女士、彭沖先生、布樂達先生、幸建華先生、王 順龍先生及王善君先生；獨立非執行董事曾儉華先生、陸建忠先生、顧朝陽先 生、馮景華先生及彭冰先生。 * 天津銀行股份有限公司並非香港法例第155章銀行業條例所指認可機構，不受限於香港金 融管理局的監督，亦不獲授權在香港經營銀行╱接受存款業務。 經天津銀行股份有限公司（「本行」）2024年第二次臨時股東會審議通過，經中國人 民銀行批准，本行於全國銀行間債券市場發行了「天津銀行股份有限公司2025年 科技創新債券」（「本期債券」）。本期債券於2025年 ...

1. Report Industry Investment Rating No relevant content provided. 2. Core View of the Report The current spread compression space of high - quality large - bank capital bonds is limited, and although the 10 - year variety has relative value, the overall return space is also low. Therefore, to increase returns, it is recommended to implement a moderate credit - sinking strategy for bank perpetual and secondary capital bonds (referred to as "two - tier and perpetual bonds") under strict risk control, avoiding provinces with a large number of high - risk institutions [6][40]. 3. Summary by Relevant Catalogs 3.1 Bank Two - tier and Perpetual Bond Investment Screening Framework - **Issuer's Subject Qualifications and Operating Indicators**: A core risk - control framework covering six dimensions including equity nature, asset scale, operating region, asset quality, operating performance, and inter - bank liability ratio is constructed. It focuses on asset scale and central and state - owned enterprise equity nature, controls key operating indicators such as core tier - one capital adequacy ratio and ROE, and avoids provinces with a large number of high - risk institutions [5][7]. - **Central Bank's Financial Institution Rating Results**: As of the end of 2023, banks within the safety boundary accounted for 98.22% of the banking system's asset scale, and 357 banks were in a high - risk state. Large banks are in the "green zone", while some rural and urban commercial banks are high - risk banks [5][8]. - **Domestic Systemically Important Banks (D - SIBs) List**: In 2023, 20 domestic systemically important banks were identified, including 6 state - owned commercial banks, 9 joint - stock commercial banks, and 5 city commercial banks. They can all be included in the investment white list due to their low overall risk level [6][16]. - **Historical Non - Active Redemption of Bank Two - tier and Perpetual Bonds**: As of July 19, 2025, there have been 72 cases of secondary capital bonds not actively redeemed, with a total non - redemption amount of 50.677 billion yuan. Rural commercial banks account for 73.61% of the issuers, and regions such as Liaoning, Shandong, and Hubei have a high number of non - redemption cases [6][17]. - **Regional Fiscal Revenue Quality and Debt Pressure**: It is recommended to prioritize provinces with high - quality fiscal revenue and controllable debt, such as Shanghai, Beijing, Guangdong, and Fujian, and avoid high - risk regions like Liaoning, Gansu, and Inner Mongolia [6][29]. 3.2 Investment Opportunities for Two - tier and Perpetual Bonds under the Moderate Credit - Sinking Strategy - **Issuer Selection Criteria**: Focus on state - owned and central - enterprise - controlled banks with an asset scale between 400 billion and 1 trillion yuan, with a core tier - one capital adequacy ratio of not less than 7.5%, ROE higher than 3%, an inter - bank liability ratio within 30%, and avoid provinces with a large number of high - risk institutions [33]. - **Recommended Investment Targets**: Recommended targets include 25 Tianjin Rural Commercial Bank Secondary Capital Bond 01, 25 Guangxi Beibu Gulf Bank Secondary Capital Bond 01, and other bonds with a yield of over 2.5% [40].

Core Viewpoint - The A-share IPO market for banks has been stagnant for three and a half years, with 15 banks currently in the listing guidance phase, facing various challenges in their path to IPO [1][3][10]. Group 1: Current Status of Banks in IPO Guidance - There are 15 banks in the IPO guidance phase, with guidance durations ranging from over 2 years to 15 years, highlighting the prolonged nature of the process [1][3]. - HanKou Bank has been in the guidance phase since December 2010, focusing on capital supplementation to alleviate capital adequacy pressure [3][4]. - New entrants like Guilin Bank began their guidance process in August 2023, indicating a mix of experienced and new players in the IPO preparation [3][4]. Group 2: Challenges Faced by Banks - Many banks are struggling with issues related to equity management, asset ownership, and corporate governance, which hinder their IPO progress [6][9]. - Specific challenges include unresolved equity disputes, excessive shareholding by employees, and incomplete asset rights documentation [7][8]. - Capital pressure remains a significant constraint, with banks like HanKou Bank needing to explore multiple channels for capital supplementation to meet IPO requirements [9]. Group 3: Market Environment and Regulatory Landscape - The IPO market has become increasingly cautious, with no new bank listings since January 2022, reflecting a tightening regulatory environment [10]. - The shift to a registration-based system has led to stricter scrutiny of corporate governance and a focus on regional banks' roles in local economies [10][11]. - Banks are advised to assess their readiness and market conditions carefully before submitting IPO applications, considering factors like risk management and economic recovery [11]. Group 4: Recommendations for Banks - Analysts suggest that banks in the guidance phase should adopt a dual approach: continue rectifying issues for IPO readiness while exploring alternative capital-raising methods [11]. - Engaging strategic investors and optimizing equity structures through mergers and acquisitions are recommended strategies for banks facing prolonged guidance periods [11].

Core Viewpoint - The rapid disappearance of village banks in China is highlighted, with over 75 banks merged and more than 55 banks acquired in 2024, indicating a significant transformation in the rural banking sector [1][5][8]. Summary by Sections Village Banks Overview - Village banks are an essential part of China's financial system, primarily serving lower-tier customers. However, their role has diminished significantly over the past two decades [1]. - As of the end of 2023, there were over 1,600 village banks in China, accounting for more than one-third of all banking institutions [3]. Mergers and Acquisitions - In 2024, over 100 village banks have been merged or acquired by joint-stock banks and urban commercial banks, indicating a trend towards consolidation in the sector [4][6]. - Specific examples include the merger of Zhejiang Chouzhou Commercial Bank with two village banks in July 2024 and the acquisition of Hebei Bank over another village bank in June 2024 [4][5]. Industry Trends - The overall number of banking institutions in China has decreased to 4,295 by the end of 2024, marking a reduction of 195 institutions, the largest annual decline in three years [8]. - The exit of banking institutions has accelerated, with 307 banks exiting the market over the past three years, including 153 in 2024 alone [8]. Challenges Faced by Village Banks - Village banks generally face challenges such as small scale, difficulty in attracting deposits, and a lack of diversified income sources, making them vulnerable to market fluctuations [10]. - Issues with governance and risk management have led to regulatory penalties for some village banks, highlighting the need for reform [11]. Regulatory and Reform Initiatives - The Chinese government has emphasized the need to prevent systemic risks and has called for the restructuring of rural financial institutions to enhance their operational mechanisms [11][12]. - The merger of village banks with larger commercial banks is seen as a way to mitigate financial risks and improve service delivery to rural economies [12][13].

Group 1 - Tianjin Bank issued a loan of 10 million yuan to Tianjin Yangliuqing Painting Society, a national-level intangible cultural heritage inheritor, to support the development of intangible cultural heritage projects and practitioners [1] - The financing will be used for cultural exchange activities related to the Shanghai Cooperation Organization summit, including the construction of intangible cultural heritage experience scenarios and the upgrading of cultural and creative product systems [1] - This initiative aims to integrate traditional New Year painting art with international summit scenarios, enhancing the cultural heritage of Tianjin and promoting the value chain of "intangible heritage protection - industrial transformation - international dissemination" through financial empowerment [1] Group 2 - Intangible cultural heritage is a treasure of Chinese culture and plays a significant role in promoting high-quality economic and social development [2] - Tianjin Bank is exploring a new financing model of "intangible heritage + inclusive finance," which enhances the cultural depth of inclusive financial services and strengthens the strategic connection between banks and enterprises in promoting cultural city construction [2] - The allocation of credit resources to excellent traditional culture development demonstrates the cultural soft power of modern Tianjin and provides an innovative practice sample for enhancing the international influence of Chinese culture through "finance + intangible heritage" [2]

Core Insights - Tianjin Bank is focusing on the integration of port, industry, and city development, advancing the construction of the Northern International Shipping Core Area to create a new ecosystem for shipping finance that is open, innovative, and efficient [1] Product Matrix Upgrade - The bank is enhancing its product offerings to address industry pain points by integrating smart technology with cross-border finance, particularly through the "Smart Trade Pass" product matrix [2] - The "Tianxing Easy Remittance" product improves cross-border remittance experiences with features like payment pre-verification and real-time tracking, significantly enhancing fund turnover efficiency for port logistics and SMEs [2] - The "Smart Freight Pass" product digitizes the entire process of domestic USD payments for international shipping, reducing processing time to 3 minutes and improving efficiency by over 95%, while also decreasing costs by 70% [2] Strategic Collaboration Deepening - The bank is supporting the upgrade of the port economy through strategic cooperation with state-owned enterprises and has introduced the first "Shipping Themed Bond Basket" in the interbank market to broaden financing channels for port green and smart upgrades [3] - Financing to the port economy and state-owned foreign trade enterprises in Tianjin has increased by 33.31% year-on-year, while financing to shipping logistics enterprises in the region has surged by 172.41% [3] - The bank is enhancing financial support for the "Belt and Road" initiative, exemplified by a strategic cooperation agreement with Huahai Communication Technology Co., Ltd. for cross-border guarantee credit support for submarine cable projects [3] Service Ecosystem Construction - A new comprehensive shipping financial service plan has been launched, providing diversified financial services to support shipping logistics enterprises [4] - The bank has introduced a dedicated shipping wealth management product and developed a multilingual version of its mobile banking app to facilitate the lives of foreign individuals in Tianjin [4] - Future plans include strengthening the financial service ecosystem around "port + industry + city" and enhancing research and technology capabilities to support integrated development and the "Belt and Road" initiative [4]