Group 1 - The six major state-owned banks in China reported a total operating revenue of 910.18 billion yuan and a net profit attributable to shareholders of 344.42 billion yuan in the first quarter, averaging about 3.8 billion yuan in daily profit [1] - Among the banks, Industrial and Commercial Bank of China (ICBC) led with an operating revenue of 212.77 billion yuan, followed by China Construction Bank (CCB) with 190.07 billion yuan, Agricultural Bank of China (ABC) with 186.67 billion yuan, and Bank of China (BOC) with 164.93 billion yuan [1] - The net profit for ICBC and CCB exceeded 80 billion yuan, with ICBC at 84.16 billion yuan and CCB at 83.35 billion yuan, while ABC and BOC reported net profits of 71.93 billion yuan and 54.36 billion yuan, respectively [1] Group 2 - The net interest margin for the six major banks narrowed in the first quarter, with ICBC at 1.33%, CCB at 1.41%, ABC at 1.34%, BOC at 1.29%, Bank of Communications (BoCom) at 1.23%, and Postal Savings Bank of China (PSBC) at 1.71%, showing declines of 15, 16, 10, 15, 4, and 21 basis points respectively [2] - Asset quality improved for ICBC, CCB, ABC, and BoCom, with non-performing loan (NPL) ratios of 1.33%, 1.33%, 1.28%, and 1.30% respectively; BOC's NPL ratio remained stable at 1.25%, while PSBC's NPL ratio increased slightly to 0.91% [2]

Performance Summary - Industrial and Commercial Bank of China (01398.HK) reported Q1 revenue of 204.688 billion yuan, a decrease of 2.61% year-on-year, and a net profit of 84.156 billion yuan, down 3.99% [3] - China Construction Bank (00939.HK) had Q1 operating income of 185.99 billion yuan, down 4.76% year-on-year, with a net profit of 83.351 billion yuan, also down 3.99% [3] - Agricultural Bank of China (01288.HK) achieved Q1 revenue of 186.735 billion yuan, an increase of 0.32% year-on-year, and a net profit of 71.931 billion yuan, up 2.2% [3] - Bank of China (03988.HK) reported Q1 revenue of 164.911 billion yuan, an increase of 2.41% year-on-year, but a net profit of 58.644 billion yuan, down 2.22% [3] - Postal Savings Bank of China (01658.HK) had Q1 revenue of 89.406 billion yuan, a slight decrease of 0.1%, and a net profit of 25.246 billion yuan, down 2.62% [3] - China Merchants Bank (03968.HK) reported Q1 revenue of 83.731 billion yuan, down 3.11% year-on-year, with a net profit of 37.286 billion yuan, down 2.08% [3] - Bank of Communications (03328.HK) had Q1 net operating income of 66.44 billion yuan, down 1.13%, but a net profit of 25.372 billion yuan, up 1.54% [3] - HSBC Holdings (00005.HK) reported Q1 revenue of 17.649 billion USD, down 14.95%, and a post-tax profit of 7.57 billion USD, down 30.15% [3] - China People's Insurance Group (01339.HK) achieved Q1 revenue of 156.589 billion yuan, up 12.8%, and a net profit of 12.849 billion yuan, up 43.4% [3] - China Life Insurance (02628.HK) reported Q1 revenue of 110.177 billion yuan, down 8.9%, but a net profit of 28.802 billion yuan, up 39.5% [3] - New China Life Insurance (01336.HK) had Q1 revenue of 33.402 billion yuan, up 26.1%, and a net profit of 5.882 billion yuan, up 19% [3] - China National Petroleum Corporation (00857.HK) reported Q1 revenue of 753.108 billion yuan, down 7.3%, but a net profit of 46.809 billion yuan, up 2.3% [3] - CNOOC (00883.HK) had Q1 revenue of 106.854 billion yuan, down 4.1%, and a net profit of 36.563 billion yuan, down 7.9% [3] - Huadian International Power (01071.HK) reported Q1 revenue of 26.577 billion yuan, down 14.14%, but a net profit of 1.93 billion yuan, up 3.66% [3] - China International Marine Containers (01880.HK) had Q1 revenue of 16.746 billion yuan, down 10.96%, and a net profit of 1.938 billion yuan, down 15.98% [3] - Air China (00753.HK) reported Q1 revenue of 40.023 billion yuan, down 0.11%, with a net loss of 2.044 billion yuan, an increase of 22.07% [3] - CITIC Securities (06030.HK) achieved Q1 revenue of 17.761 billion yuan, up 29.13%, and a net profit of 6.545 billion yuan, up 32% [3] - China Galaxy Securities (06881.HK) reported Q1 revenue of approximately 7.558 billion yuan, up 4.77%, and a net profit of approximately 3.016 billion yuan, up 84.86% [3] - CITIC Construction Investment Securities (06066.HK) had Q1 operating income of 4.919 billion yuan, up 14.54%, and a net profit of 1.843 billion yuan, up 50.07% [3] - Huatai Securities (06886.HK) reported Q1 revenue of approximately 8.232 billion yuan, up 34.83%, and a net profit of approximately 3.642 billion yuan, up 58.97% [3] - China Railway Construction (01186.HK) had Q1 revenue of 256.762 billion yuan, down 6.61%, and a net profit of 5.151 billion yuan, down 14.51% [3] - China Energy Engineering (03996.HK) reported Q1 revenue of 100.371 billion yuan, up 3.05%, and a net profit of 1.612 billion yuan, up 8.83% [3] - Times Electric (03898.HK) achieved Q1 revenue of 4.537 billion yuan, up 14.81%, and a net profit of 631 million yuan, up 13.42% [3] - Midea Group (00300.HK) reported Q1 revenue of 127.839 billion yuan, up 20.49%, and a net profit of 12.422 billion yuan, up 38.02% [3] - WH Group (00288.HK) had Q1 revenue of 6.554 billion USD, up 6.0%, and a profit of 364 million USD, up 20.9% [3] - Suncity Group (00880.HK) reported Q1 total revenue of 7.48 billion HKD, up 8.1%, and a net profit of 31 million HKD, turning profitable [3] - COSCO Shipping Ports (01199.HK) had Q1 revenue of 3.82 billion USD, up 14.7%, and a net profit of 839 million USD, up 33.5% [3] - Flat Glass Group (06865.HK) reported Q1 revenue of 4.079 billion yuan, down 28.76%, and a net profit of 106 million yuan, down 86.03% [3] - Zoomlion Heavy Industry (01157.HK) achieved Q1 revenue of 12.117 billion yuan, up 2.92%, and a net profit of 1.41 billion yuan, up 53.98% [3] - Ganfeng Lithium (01772.HK) reported Q1 revenue of approximately 3.772 billion yuan, down 25.43%, with a net loss of approximately 356 million yuan, narrowing by 18.93% [3] - Qingdao Port (06198.HK) had Q1 revenue of 4.807 billion yuan, up 8.51%, and a net profit of 1.402 billion yuan, up 6.51% [3] - China Shipbuilding Defense (00317.HK) reported Q1 revenue of approximately 3.641 billion yuan, up 29.73%, and a net profit of approximately 184 million yuan, up about 11 times [3] - Baiyunshan Pharmaceutical (00874.HK) had Q1 revenue of 22.473 billion yuan, down 2.06%, and a net profit of 1.821 billion yuan, down 6.99% [3] Investment Activities - New China Life Insurance (01336.HK) plans to invest no more than 10 billion yuan to subscribe to a private fund [4] - China Life Insurance (02628.HK) intends to invest 2 billion yuan to establish a partnership [4] Contract Signing - China Metallurgical Group (01618.HK) reported a new contract signing amount of 230.66 billion yuan in Q1, a decrease of 27.2% year-on-year, with overseas contracts amounting to 12.04 billion yuan, down 35.7% [5] Energy Production - Xin Tian Green Energy (00956.HK) completed power generation of 4.5442 million MWh in Q1, an increase of 10.37% year-on-year [6] - China Power (02380.HK) reported total electricity sales of 30.7477 million MWh in the first three months, up 2.59% year-on-year, with March sales of 10.9617 million MWh, up 3.95% [6] - Qingdao Port (06198.HK) achieved a total cargo throughput of 177 million tons in the first three months, up 2.9% year-on-year [6] Licensing Agreement - Fuhong Hanlin (02696.HK) entered into a licensing agreement with Sandoz AG for the commercialization of HLX13 in specified regions [6] Privatization Offer - Dingsheng Creation (00113.HK) received a privatization offer at a premium of approximately 50.63%, with a maximum cash consideration of about 1.0986 billion HKD [7] Share Buybacks - AIA Group (01299.HK) repurchased shares for 342.6 million HKD, buying back 6.2592 million shares at prices between 54.25 and 55.35 HKD [8] - J&T Express-W (01519.HK) repurchased shares for 9.2485 million HKD, buying back 1.54 million shares at prices between 5.98 and 6.03 HKD [8]

会议由陈跃军监事长主持，出席会议的监事审议并表决通过了以 下议案： 关于中国邮政储蓄银行 2025 年第一季度报告的议案 议案表决情况：有效表决票 5 票，同意 5 票，反对 0 票，弃权 0 票。 本行监事会认为，本行 2025 年第一季度报告的编制和审议程序 符合法律、行政法规和监管规定，报告的内容真实、准确、完整地反 映了本行的实际情况。 特此公告。 证券代码：601658 证券简称：邮储银行 公告编号：临 2025-034 中国邮政储蓄银行股份有限公司 监事会决议公告 中国邮政储蓄银行股份有限公司监事会及全体监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。 中国邮政储蓄银行股份有限公司（以下简称本行）监事会于 2025 年 4 月 14 日以书面形式发出会议通知，于 2025 年 4 月 29 日在北京 以现场方式召开会议。会议应出席监事 5 名，亲自出席 4 名，委托出 席 1 名；陈世敏监事由于其他公务安排，书面委托白建军监事出席会 议并代为行使表决权。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 ...

会议由郑国雨董事长主持，出席会议的董事审议并表决通过了以 下议案： 一、关于中国邮政储蓄银行 2024 年绿色金融工作情况及 2025 年发展计划的议案 议案表决情况：有效表决票 15 票，同意 15 票，反对 0 票，弃权 0 票。 证券代码：601658 证券简称：邮储银行 公告编号：临 2025-033 二、关于中国邮政储蓄银行 2025 年第一季度报告的议案 中国邮政储蓄银行股份有限公司 董事会决议公告 中国邮政储蓄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。 中国邮政储蓄银行股份有限公司（以下简称本行）董事会于 2025 年 4 月 14 日以书面形式发出会议通知，于 2025 年 4 月 29 日在北京 以现场方式召开会议。会议应出席董事 15 名，亲自出席董事 15 名， 部分监事及高级管理人员列席会议。会议的召开符合《中华人民共和 国公司法》（以下简称《公司法》）等有关法律、行政法规、部门规 章、规范性文件和《中国邮政储蓄银行股份有限公司章程》（以下简 称《公司章程》）的有关规定。 四、关于《中国 ...

Financial Performance - Net profit for Q1 2025 was RMB 25,362 million, down 2.29% from RMB 25,957 million in Q1 2024[6] - The company achieved operating income of 89.363 billion yuan and net profit attributable to shareholders of 25.246 billion yuan[23] - The company achieved operating income of CNY 89.363 billion, a decrease of 0.07% year-on-year, and net profit of CNY 25.362 billion, down 2.29% year-on-year[36] - The total comprehensive income for the group was RMB 20,879 million, a decrease of 23.9% from RMB 27,402 million in the previous year[57] - The bank's profit before tax for Q1 2025 was 27.252 billion RMB, compared to 28.760 billion RMB in Q1 2024[56] Assets and Liabilities - Total assets increased to RMB 17,689,399 million, a growth of 3.54% compared to the end of 2024[4] - The bank's total liabilities as of March 31, 2025, amounted to 16,693.0 billion RMB, up from 16,053.3 billion RMB at the end of 2024[55] - The total available stable funding is RMB 15,038,926 million as of March 31, 2025, an increase from RMB 14,555,976 million as of December 31, 2024[61] - Total on-balance sheet assets (excluding derivatives and securities financing transactions) increased to RMB 17,685,791 million as of March 31, 2025, from RMB 17,103,062 million as of December 31, 2024, representing a growth of 3.39%[69] Customer Loans and Deposits - Total customer loans reached RMB 9,356,188 million, reflecting a 4.97% increase year-on-year[4] - Customer deposits rose to RMB 15,976,534 million, marking a 4.51% increase from the previous year[4] - Retail loans showed resilience, with an increase of 3,619.93 billion yuan, representing a year-on-year growth of 9.92%[23] - Total deposits increased by 688.993 billion yuan, with a year-on-year increase of 169.09 billion yuan, improving the deposit-to-liability ratio by 0.48 percentage points[23] Capital Adequacy and Ratios - Core Tier 1 capital adequacy ratio stood at 9.21%, down from 9.56% at the end of 2024[13] - The total capital adequacy ratio stands at 13.34% as of March 31, 2025, compared to 14.44% as of December 31, 2024[61] - The liquidity coverage ratio is 224.63% as of March 31, 2025, a decrease from 287.28% as of December 31, 2024[61] - The leverage ratio is 5.34% as of March 31, 2025, compared to 5.72% as of December 31, 2024[66] Income and Expenses - Operating cash flow decreased significantly by 66.38%, totaling RMB 75,695 million compared to RMB 225,146 million in the same period last year[11] - The bank's net interest income for Q1 2025 was 68.857 billion RMB, a decrease from 71.573 billion RMB in Q1 2024[56] - The company reported a net interest income of CNY 68.857 billion, a decline of 3.79% year-on-year, with a net interest margin of 1.71%[37] - The bank's credit impairment losses increased to 10.717 billion RMB in Q1 2025 from 6.984 billion RMB in Q1 2024[56] Shareholder Information - The number of ordinary shareholders reached 182,920, including 180,558 A-share shareholders and 2,362 H-share shareholders[14] - The bank's equity attributable to shareholders decreased by 3.44% to RMB 994,297 million[4] - Basic and diluted earnings per share were RMB 0.24, a decline of 4.00% compared to RMB 0.25 in Q1 2024[6] - The total cash dividend for the fiscal year 2024 is approximately 25.941 billion RMB, with a final cash dividend of 1.139 RMB per 10 shares[50] Risk Management - The non-performing loan ratio remained at 0.91%, with a provision coverage ratio of 266.13%[23] - The company’s credit impairment losses rose by 53.45% year-on-year to CNY 10.717 billion, indicating increased credit risk[41] - The non-performing loan balance increased to CNY 85.294 billion, with a non-performing loan ratio of 0.91%, up 0.01 percentage points from the previous year[46] Digital Transformation and Innovation - The company is focusing on enhancing its digital transformation and integrating innovative technologies to improve service efficiency and customer experience[32] - The company has opened over 10 million personal pension accounts, promoting personal pension business rapidly[26] Additional Financial Activities - The company plans to issue CNY 30 billion of additional tier 1 capital bonds to strengthen its capital base[48] - The bank plans to fully redeem the 800 billion RMB perpetual capital bonds issued in 2020 by March 2025[49] - The bank's A-share issuance plan aims to raise 130 billion RMB to supplement its core Tier 1 capital, pending regulatory approval[49]

Financial Performance - For Q1 2025, the operating income was RMB 89,406 million, a slight decrease of 0.10% compared to RMB 89,494 million in Q1 2024[8] - Net profit for Q1 2025 was RMB 25,362 million, down 2.29% from RMB 25,957 million in the same period last year[8] - The net profit attributable to shareholders was RMB 25,246 million, reflecting a decrease of 2.62% from RMB 25,926 million in Q1 2024[8] - The company achieved operating revenue of 89.406 billion CNY and net profit attributable to shareholders of 25.246 billion CNY during the reporting period[22] - The bank's operating income for the first quarter of 2025 was RMB 89,406 million, slightly down from RMB 89,494 million in the same period of 2024[53] - Net profit for the period was RMB 25.362 billion, down 2.29% compared to the previous year[35] Cash Flow and Investments - The net cash flow from operating activities was RMB 75,695 million, a significant decline of 66.38% compared to RMB 225,146 million in Q1 2024[11] - The net cash flow from investing activities was RMB 49,051 million in Q1 2025, a significant recovery from a net cash outflow of RMB 65,769 million in Q1 2024[61] - The cash and cash equivalents at the end of Q1 2025 stood at RMB 346,413 million, down from RMB 543,952 million at the end of Q1 2024[61] Assets and Liabilities - Total assets as of March 31, 2025, reached RMB 17,689,399 million, an increase of 3.54% from RMB 17,084,910 million at the end of 2024[9] - Total liabilities reached RMB 166,930.06 billion, an increase of RMB 6,397.45 billion or 3.99% compared to the end of the previous year[43] - Total assets increased to RMB 17,689,399 million as of March 31, 2025, up from RMB 17,084,910 million as of December 31, 2024, representing a growth of approximately 3.55%[57] - Total liabilities increased to RMB 16,693,006 million as of March 31, 2025, compared to RMB 16,053,261 million as of December 31, 2024, marking an increase of approximately 3.98%[58] Customer Loans and Deposits - Total customer loans amounted to RMB 9,356,188 million, up 4.97% from RMB 8,913,202 million at the end of 2024[9] - Customer deposits increased to RMB 15,976,534 million, representing a growth of 4.51% from RMB 15,287,541 million at the end of 2024[9] - The company increased loans by 442.986 billion CNY in the first quarter, a year-on-year increase of 69.805 billion CNY, with corporate loans growing by 361.993 billion CNY, representing a 9.92% increase[22] - Deposits increased by 688.993 billion CNY in the first quarter, a year-on-year increase of 16.909 billion CNY, with corporate deposits rising by 141.710 billion CNY, an 8.56% growth[22] Capital Adequacy and Ratios - The core tier 1 capital adequacy ratio was 9.21% as of March 31, 2025, down from 9.56% at the end of 2024[14] - The core Tier 1 capital adequacy ratio was 9.21%, down 0.35 percentage points from the previous year, while the total capital adequacy ratio was 13.34%, down 1.10 percentage points[45] - The leverage ratio is 5.34% as of March 31, 2025, down from 5.91% on March 31, 2024, reflecting a decrease in the bank's capital relative to its total assets[62] - The liquidity coverage ratio stands at 224.63% as of March 31, 2025, down from 282.57% on March 31, 2024, suggesting a reduction in liquidity buffer[62] Non-Interest Income and Fees - Non-interest income increased by 8.76% and 21.29% for net fee and commission income and other non-interest income, respectively, with the proportion of non-interest income rising by 2.96 percentage points year-on-year[22] - Fee and commission income increased by RMB 0.8306 billion, growing 8.76% year-on-year, driven by the expansion of investment banking and wealth management services[37] - Other non-interest income rose by RMB 1.798 billion, an increase of 21.29%, due to enhanced asset trading capabilities[38] Shareholder Information - The number of ordinary shareholders was 182,920 as of the report date, including 180,558 A-share shareholders and 2,362 H-share shareholders[15] - A total cash dividend of approximately RMB 259.41 billion (including tax) is expected to be distributed for the fiscal year 2024, with a final cash dividend of RMB 1.139 per 10 shares[49] Risk and Loan Quality - The non-performing loan ratio remained at 0.91%, with a provision coverage ratio of 266.13% and a capital adequacy ratio of 13.34%[22] - Non-performing loans stood at RMB 852.94 billion, an increase of RMB 49.75 billion, with a non-performing loan ratio of 0.91%, up 0.01 percentage points from the previous year[45] - The annualized non-performing loan generation rate was 0.94% during the reporting period[45] Strategic Initiatives - The company launched a special action plan to boost consumption, proposing 20 specific measures to enhance financial services and support consumer demand[26] - The company has supported nearly 100,000 technology enterprises, with financing balance exceeding 600 billion CNY[25] - The company has opened over 10 million personal pension accounts, promoting individual pension business rapidly[25] - The company aims to enhance its service model through the "1+N" operational framework, focusing on comprehensive marketing and customer engagement strategies[33]

Core Insights - Postal Savings Bank of China reported a total asset of 17.69 trillion yuan for Q1 2025, representing a year-on-year growth of 3.54% [1] - The bank achieved an operating income of 89.363 billion yuan and a net profit attributable to shareholders of 25.246 billion yuan [1] - Net fee and commission income reached 10.306 billion yuan, showing a year-on-year increase of 8.76%, while other non-interest income grew by 21.70% [1] - The net interest margin stood at 1.71%, maintaining an excellent level within the industry [1] - As of the end of Q1, the bank's non-performing loan ratio was 0.91%, indicating solid asset quality, with a provision coverage ratio of 266.13% and a capital adequacy ratio of 13.34%, reflecting sufficient risk-bearing capacity [1]

Core Insights - Postal Savings Bank of China (PSBC) reported a significant increase in green loans, reaching 910.71 billion yuan, a growth of 6.01% compared to the end of the previous year, indicating a sustained focus on green finance [1] - The bank is committed to enhancing its role in the economy by focusing on five key areas, which include rural finance, inclusive finance, and personal finance, showcasing its traditional strengths [2][3] Group 1: Green Finance and Economic Integration - PSBC's green loan balance has increased to 910.71 billion yuan, with a growth rate that consistently exceeds the average growth of all loans [1] - The bank's strategy involves integrating into the broader economic development landscape, emphasizing the importance of green finance as part of its operational focus [1] Group 2: Inclusive Finance and Support for Small Enterprises - The balance of agricultural loans stands at 2.4 trillion yuan, while inclusive small and micro enterprise loans amount to 1.67 trillion yuan, positioning PSBC among the leaders in state-owned banks [2] - The bank has supported nearly 100,000 technology enterprises, with financing exceeding 600 billion yuan, reflecting its commitment to technology-driven financial services [2] Group 3: Personal Finance and Customer Growth - PSBC has seen a significant increase in retail assets under management (AUM), reaching 17.47 trillion yuan, with an increase of 77.86 billion yuan since the end of the previous year [3] - The number of VIP customers has grown to 57.95 million, marking a 3.85% increase, while high-net-worth clients have increased by 7.33% to 6.27 million [3]

邮储银行（601658）公告，2025年一季度营业收入89.36亿元，同比增长0.07%，一季净利润25.36亿 元，同比增长2.29%。 ...

Group 1 - The timely financial support from Postal Savings Bank has alleviated funding pressure for small and micro enterprises, enhancing their confidence in development [1] - The "Mortgage e-loan" product from Postal Savings Bank is designed for small and micro enterprises, offering a quick and convenient online application process [1] - In Jiangxi Province, Postal Savings Bank has visited over 10,000 enterprises and provided nearly 11.5 billion yuan in credit to small and micro enterprises, with over 9.3 billion yuan in loans disbursed [1] Group 2 - Postal Savings Bank's efficient services and favorable interest rates have effectively addressed the funding challenges faced by enterprises like Jiangxi Dongjin Power Technology Co., Ltd [2] - The city of Ji'an has developed a strong industrial ecosystem with over 1,100 enterprises in six key sectors, supported by Postal Savings Bank's issuance of nearly 2 billion yuan in specialized loans [2] - As of March 2025, Postal Savings Bank's Jiangxi branch has provided loans to over 130,000 private enterprises, with a total loan balance exceeding 105.2 billion yuan [2]