来源：新浪基金∞工作室 九泰久盛量化混合A（001897）基金经理为袁多武。 10月9日，邮储银行跌0.87%，截至发稿，报5.70元/股，成交7.32亿元，换手率0.19%，总市值6845.42亿 元。邮储银行股价已经连续5天下跌，区间累计跌幅5.94%。 截至发稿，袁多武累计任职时间5年79天，现任基金资产总规模1.18亿元，任职期间最佳基金回报 84.71%， 任职期间最差基金回报-5.13%。 资料显示，中国邮政储蓄银行股份有限公司位于中国北京市西城区金融大街3号,香港湾仔皇后大道东 248号大新金融中心40楼，成立日期2007年3月6日，上市日期2019年12月10日，公司主营业务涉及中国 邮政储蓄银行股份有限公司在中国提供银行及相关金融服务。该银行主要通过个人银行、企业银行及资 金业务运营。个人银行业务向个人客户提供多种产品及服务,包括人民币及外汇存储、贷款、银行卡及 中间业务产品及服务。企业银行业务为企业客户提供多样化金融产品及服务,包括企业贷款、贴现票 据、企业存款及中间业务产品及服务,如:结算、票据管理、现金管理、投资银行、托管及公司理财。资 金业务主要包括金融市场业务,如:市场交易、投资、 ...

Core Viewpoint - The article argues that while securitization is a financing tool, it is not suitable for banks to dispose of non-performing loans due to various inefficiencies and potential losses associated with the process [1][2][21]. Summary by Sections Principle Explanation - Securitization primarily generates returns for investors from the recovery of non-performing loans, which are still collected by the banks themselves, leading to a situation where banks effectively pay out a portion of their own recoveries to investors [1][2]. - The cash flow from securitized non-performing loans tends to be stable initially but decreases over time, which complicates the timing of cash recovery during the transition period before formal issuance [2][5]. - During the transition period, banks may only receive about 50% of the expected cash flow from the securitized assets, as the initial recoveries belong to the investors [5][6]. - The article highlights that banks often incur significant write-off resources when securitizing loans, which could be avoided through direct recovery methods [7][8]. Empirical Analysis - From 2021 to 2024, Postal Savings Bank issued 22 securitization products, with the total amount of non-performing loans disposed of and the corresponding cash received from securitization detailed in a table [11][12]. - The average cash recovery during the transition period reached approximately 47.8% of the securitization proceeds, demonstrating the inefficiency of the securitization process [14]. - The analysis shows that the cash recovery period for these products averaged around 367 days, indicating that banks could have achieved similar results through direct recovery without securitization [14][15]. Related Thoughts - The article discusses the motivations behind banks engaging in securitization, suggesting that intermediaries benefit financially from the process, which may lead to a lack of thorough cost-benefit analysis by the banks themselves [20][21]. - It emphasizes that while securitization is a common practice, it may not be the most effective method for managing non-performing loans, as banks could achieve better outcomes through direct recovery and write-off strategies [21][22].

请您根据自身需要，提前做好相应安排。由此给您带来的不便，敬请谅解！ 2025年10月8日，中国邮政储蓄银行发布公告称，为了给您提供更加优质、安全、快捷的服务，中国邮 政储蓄银行将于2025年10月13日23点至2025年10月14日凌晨6点，2025年10月16日23点至2025年10月17 日凌晨6点，2025年10月20日23点至2025年10月21日凌晨6点，2025年10月23日23点至2025年10月24日凌 晨6点进行电子签约存证系统技术升级。系统升级期间，将暂停办理全部线上电子化CFCA签署业务， 包括手机银行、企业手机银行、微信银行、个人网银、企业网银、移动展业、信用卡app、远程服务中 心系统、服务开放平台、U链供应链系统等交易渠道的线上签署功能均停止使用。 ...

Core Viewpoint - The postal industry plays a crucial role in modernizing services, promoting consumption, and facilitating circulation, with a focus on high-quality development and innovation in response to national strategies [1][2][3] Group 1: Service Enhancement - The postal service aims to improve public service equality, enhancing accessibility and stability, with all remote villages achieving direct mail delivery [1] - Express logistics are being optimized for speed, quality, cost reduction, and market expansion, significantly boosting competitive capabilities [1] - Postal Savings Bank is actively supporting rural areas, urban residents, and SMEs, with revenue and profit growth leading among state-owned banks, maintaining a top position in global banking rankings [1] Group 2: Support for National Strategies - The postal service is committed to rural revitalization, developing tailored service systems for local industries and enhancing logistics and financial systems [2] - It is integrating with modern industries like manufacturing and commerce, exploring innovative service models to improve supply chain efficiency [2] - The organization is focused on supporting major regional strategies and ensuring service guarantees in key areas [2] Group 3: Technological Empowerment - The company is advancing digital postal services, with significant applications in logistics and finance, transitioning to intelligent and automated operations [3] - The theme for World Post Day emphasizes the commitment to serving the public and enhancing connectivity through a robust postal network [3] Group 4: Core Functions and Transformation - The postal service is enhancing universal service quality and playing a leading role in logistics, ensuring stability in disaster response and supply chain security [4] - It is shifting focus from consumer needs to also include production demands and national emergency services, enhancing collaborative efforts [4] Group 5: Circular Economy and Rural Support - The organization is leveraging its extensive network to improve circulation and service delivery, addressing challenges in rural sales, logistics, and financing [5] - It aims to create a comprehensive support system for rural revitalization, integrating logistics, storage, and financial services [5] Group 6: International Cooperation and Development - The postal service is strengthening international collaborations to enhance service offerings and resource integration, benefiting urban and rural development [6] - The organization is committed to high-quality development and connectivity, contributing to national modernization and revitalization efforts [6]

Core Viewpoint - Recent adjustments by some joint-stock banks to reduce credit card overdraft rates to "0" aim to increase volume by lowering costs [1] Group 1: Credit Card Loan Trends - Credit card loan balances are a key indicator of retail banking customer activity, with recent adjustments reflecting banks' efforts to compete for existing customers during a retail "cold season" [2] - Many listed banks have seen a further expansion of negative growth in credit card loan balances this year, alongside a decline in other retail loan categories such as consumer loans and mortgages [2][4] - Major state-owned banks like Bank of China and Postal Savings Bank reported declines in credit card loan balances of 13.88% and 5.67% respectively, while some joint-stock banks also experienced negative growth [3] Group 2: Overall Retail Lending Environment - The retail lending sector is undergoing an "adjustment period," with 17 out of 42 listed banks reporting a contraction in personal loan balances as of mid-2023 [4] - The contraction in personal housing mortgage loans has been a significant factor, with a reported negative growth of 1.6% in personal housing loan balances at the end of 2023, marking the first decline since 1997 [5][6] Group 3: Retail Loan Risk Assessment - Retail loan risks are on the rise, with the non-performing loan (NPL) ratio for retail loans increasing to 1.23% as of mid-2023, compared to a decrease in corporate loan NPL ratios [9] - Specific segments such as mortgage loans, consumer loans, and credit cards have seen their NPL ratios rise, indicating a challenging environment for retail lending [9][10] - The overall retail loan risk trend remains upward, with banks acknowledging the need for improved risk management practices in response to these challenges [10]

格隆汇10月8日丨根据联交所最新权益披露资料显示，2025年9月30日，邮储银行(01658.HK)获Ping An Asset Management Co., Ltd.在场内以每股均价5.4382港元增持836万股，涉资约4546.34万港元。 | 要 HEAR | 大股票/董事/股惠行政人員名稱 作出获羅的 員入 / 寶出或涉及的股每股的平均值 | | 持有權益的股份數目 佔已發行的 有關事件的日期 相關注黨股份 做權盛權益 | | --- | --- | --- | --- | | KER | | | (讀參閱上述*註解) 有投票權股(日 / 月 / 年) 權益 | | | | | 份自分比 | | | | | ( 96 ) | | CS20251005E00009 Ping An Asset Management 1101(L) | 8,360,000(L) | | HKD 5.4382 3,382,236,000(L) 17.03(L)30/09/2025 | | Co., Ltd. | | | | 增持后，Ping An Asset Management Co., Ltd.最新持股数目为3,382 ...

Core Viewpoint - The article discusses significant penalties imposed on Postal Savings Bank, Citic Baixin Bank, and Beijing Bank due to violations in their internet loan businesses and other financial practices, highlighting the regulatory scrutiny in the banking sector [2][4][6]. Group 1: Penalties and Violations - Postal Savings Bank was fined a total of 27.92 million yuan for issues related to internet loan management and other operational practices, with a related individual receiving a warning and a fine of 50,000 yuan [3][4]. - Citic Baixin Bank faced penalties totaling 11.2 million yuan for improper management of internet loans and non-compliance in regulatory data reporting, with one executive losing their senior management position for five years [3][5]. - Beijing Bank was fined 5.3 million yuan for multiple violations, including inaccurate loan risk classification and inadequate provisions for financial investments, with two responsible individuals receiving warnings and fines of 50,000 yuan each [6][7]. Group 2: Institutional Responses - Postal Savings Bank emphasized its commitment to compliance and improvement in governance and internal control systems following the penalties, aiming to enhance service quality for customers [4]. - Citic Baixin Bank acknowledged the penalties as a result of regulatory inspections and stated its focus on strengthening risk management and compliance measures moving forward [5]. - Both banks expressed intentions to adhere strictly to regulatory requirements and continue providing reliable financial services to their customers [4][5].

香港联交所最新资料显示，9月30日，Ping An Asset Management Co.,Ltd.增持邮储银行（601658） (01658)836万股，每股作价5.4382港元，总金额约为4546.34万港元。增持后最新持股数目约为33.82亿 股，最新持股比例为17.03%。 ...

智通财经APP获悉，香港联交所最新资料显示，9月30日，Ping An Asset Management Co., Ltd.增持邮储 银行(01658)836万股，每股作价5.4382港元，总金额约为4546.34万港元。增持后最新持股数目约为33.82 亿股，最新持股比例为17.03%。 ...

Group 1 - The National Financial Regulatory Administration imposed fines totaling nearly 40 million yuan on Postal Savings Bank and Citic Baixin Bank due to issues related to internet loan operations [1][4] - Postal Savings Bank was fined 27.9167 million yuan for imprudent management of loan and internet loan businesses, along with a warning and a fine of 50,000 yuan for responsible person Huang Wenxian [4][5] - Citic Baixin Bank faced a total fine of 11.2 million yuan for imprudent management of internet loan operations and non-compliance in regulatory data reporting, with responsible person Yu Xiaohong's senior management qualification canceled for five years and a warning issued to Zhu Yimin [4][5] Group 2 - Beijing Bank was fined 5.3 million yuan by the Beijing Financial Regulatory Bureau for various violations, including inaccurate loan risk classification and inadequate provisions for financial investment business impairment [6][7] - Responsible persons Xu Kai and Wang Jin received warnings and fines of 50,000 yuan each due to the violations at Beijing Bank [6][7]