[Company Profile](index=3&type=section&id=Company%20Profile) Luzhou Bank Co., Ltd. was established in China on September 15, 1997, with its H-shares listed on the main board of the Hong Kong Stock Exchange on December 17, 2018 [Company Overview](index=3&type=section&id=Company%20Overview) Luzhou Bank Co., Ltd. was established in China on September 15, 1997, with a registered capital of RMB 2,717,752,062 and H-shares listed on the HKEX - Legal Chinese Name: Luzhou Bank Co., Ltd., Legal English Name: LUZHOU BANK CO., LTD[5](index=5&type=chunk) - Registered Capital: **RMB 2,717,752,062**[5](index=5&type=chunk) - H-shares listed on the main board of the Hong Kong Stock Exchange on **December 17, 2018**, stock code 1983[7](index=7&type=chunk) [Company Status](index=4&type=section&id=Company%20Status) As of the end of the reporting period, Luzhou Bank's total assets reached RMB 192.25 billion, with total customer loans of RMB 117.59 billion and total customer deposits of RMB 155.08 billion, demonstrating steady growth in scale As of the End of the Reporting Period, Key Scale Indicators | Indicator | Amount (RMB Billion) | | :--- | :--- | | Total Assets | 192.25 | | Total Customer Loans | 117.59 | | Total Customer Deposits | 155.08 | [Financial Highlights](index=5&type=section&id=Financial%20Highlights) This section provides a concise overview of Luzhou Bank's operating performance, scale, asset quality, capital adequacy, and profitability indicators [Operating Performance](index=5&type=section&id=Operating%20Performance) For the six months ended June 30, 2025, Luzhou Bank's net profit increased by 11.65% year-on-year to RMB 902 million, and pre-tax profit increased by 19.78% to RMB 1.24 billion, despite a 14.57% decrease in operating income 2025 H1 Operating Performance Overview (RMB Thousand) | Item | 2025 | 2024 | YoY Change (%) | | :--- | :--- | :--- | :--- | | Net Interest Income | 1,897,023 | 1,757,680 | 7.93 | | Net Fee and Commission Income | 78,660 | 82,592 | (4.76) | | Operating Income | 2,422,775 | 2,835,908 | (14.57) | | Operating Expenses | (968,254) | (898,069) | 7.82 | | Expected Credit Losses / Other Asset Impairment Losses | (215,577) | (903,809) | (76.15) | | Pre-tax Profit | 1,239,926 | 1,035,133 | 19.78 | | Net Profit | 902,489 | 808,336 | 11.65 | | Net Profit Attributable to Bank Shareholders | 902,489 | 808,336 | 11.65 | [Scale Indicators](index=5&type=section&id=Scale%20Indicators) As of June 30, 2025, Luzhou Bank's total assets and net customer loans both achieved double-digit growth, increasing by 12.43% and 13.51% year-on-year, respectively, indicating continuous business expansion 2025 H1 Scale Indicators (RMB Thousand) | Item | June 30, 2025 | December 31, 2024 | YoY Change (%) | | :--- | :--- | :--- | :--- | | Total Assets | 192,253,762 | 170,999,572 | 12.43 | | Of which: Net Customer Loans | 111,900,229 | 98,585,035 | 13.51 | | Total Liabilities | 179,260,751 | 158,559,168 | 13.06 | | Of which: Customer Deposits | 155,081,860 | 135,314,340 | 14.61 | | Equity Attributable to Bank Shareholders | 12,993,011 | 12,440,404 | 4.44 | [Asset Quality Indicators](index=5&type=section&id=Asset%20Quality%20Indicators) As of June 30, 2025, Luzhou Bank's non-performing loan ratio slightly decreased by 0.01 percentage points to 1.18%, while its provision coverage ratio and loan loss provision ratio both declined 2025 H1 Asset Quality Indicators (%) | Indicator | June 30, 2025 | December 31, 2024 | Change | | :--- | :--- | :--- | :--- | | Non-performing Loan Ratio | 1.18 | 1.19 | (0.01) | | Provision Coverage Ratio | 411.53 | 435.19 | (23.66) | | Loan Loss Provision Ratio | 4.88 | 5.18 | (0.30) | [Capital Adequacy Ratios](index=5&type=section&id=Capital%20Adequacy%20Ratios) As of June 30, 2025, Luzhou Bank's Common Equity Tier 1 capital adequacy ratio, Tier 1 capital adequacy ratio, and capital adequacy ratio all decreased but remained above regulatory requirements 2025 H1 Capital Adequacy Ratios (%) | Indicator | June 30, 2025 | December 31, 2024 | Change | | :--- | :--- | :--- | :--- | | Common Equity Tier 1 Capital Adequacy Ratio | 8.01 | 8.27 | (0.26) | | Tier 1 Capital Adequacy Ratio | 9.82 | 10.15 | (0.33) | | Capital Adequacy Ratio | 12.66 | 13.12 | (0.46) | [Other Indicators](index=5&type=section&id=Other%20Indicators) As of June 30, 2025, Luzhou Bank's liquidity ratio was 76.30%, a decrease of 7.80 percentage points from the end of the previous year 2025 H1 Liquidity Ratio (%) | Indicator | June 30, 2025 | December 31, 2024 | Change | | :--- | :--- | :--- | :--- | | Liquidity Ratio | 76.30 | 84.10 | (7.80) | [Profitability Indicators](index=6&type=section&id=Profitability%20Indicators) For the six months ended June 30, 2025, Luzhou Bank's average return on equity increased by 0.55 percentage points to 14.62%, but average return on total assets, net interest margin, and net interest spread all decreased, and the cost-to-income ratio significantly rose by 7.97 percentage points to 37.94% 2025 H1 Profitability Indicators (%) | Item | 2025 | 2024 | Change | | :--- | :--- | :--- | :--- | | Average Return on Total Assets | 0.99 | 1.00 | (0.01) | | Average Return on Equity | 14.62 | 14.07 | 0.55 | | Net Interest Spread | 2.71 | 2.77 | (0.06) | | Net Interest Margin | 2.44 | 2.55 | (0.11) | | Cost-to-Income Ratio | 37.94 | 29.97 | 7.97 | [Management Discussion and Analysis](index=7&type=section&id=Management%20Discussion%20and%20Analysis) This section provides an in-depth analysis of Luzhou Bank's operating environment, strategic direction, financial performance, asset quality, capital adequacy, and risk management [Environment and Outlook](index=7&type=section&id=1.%20Environment%20and%20Outlook) In the first half of 2025, China's economy maintained stable and positive growth, with Sichuan Province outperforming the national average, while the banking sector faced challenges from narrowing net interest margins and intensified competition - In the first half of 2025, China's GDP grew by **5.3%** year-on-year, and Sichuan Province's GDP grew by **5.6%** year-on-year, **0.3 percentage points higher** than the national average[10](index=10&type=chunk) - The banking industry faces multiple challenges, including continuously narrowing net interest margins and intensified "involutionary" competition[11](index=11&type=chunk) - Luzhou Bank's operations in the first half of the year showed a good trend of **stable scale growth, improved efficiency, and controllable risks**[11](index=11&type=chunk) [Development Strategy](index=7&type=section&id=2.%20Development%20Strategy) In the second half of 2025, Luzhou Bank will focus on high-quality development, business transformation, asset structure optimization, liability cost reduction, credit risk control, fintech investment, and integration into regional economic strategies - Anchor high-quality development goals, unswervingly promote business transformation, and continuously optimize asset structure[12](index=12&type=chunk) - Continuously reduce liability costs and increase the proportion of high-quality customers through innovative measures[12](index=12&type=chunk) - Further strengthen full-process credit risk management and proactively prevent reputational risks[12](index=12&type=chunk) - Continue to increase investment in financial technology to solidify the foundation of financial technology[12](index=12&type=chunk) - Closely align with the Chengdu-Chongqing economic circle and Luzhou's "one body, two wings" development strategy, actively integrating into the overall regional economic development[12](index=12&type=chunk) [Income Statement Analysis](index=8&type=section&id=3.%20Income%20Statement%20Analysis) In the first half of 2025, Luzhou Bank's pre-tax profit and net profit increased by 19.78% and 11.65% year-on-year, respectively, primarily due to a significant reduction in expected credit losses, despite a 14.57% decrease in operating income 2025 H1 Income Statement Key Item Changes (RMB Thousand) | Item | 2025 | 2024 | Change | | :--- | :--- | :--- | :--- | | Pre-tax Profit | 1,239,926 | 1,035,133 | +204,793 | | Net Profit | 902,489 | 808,336 | +94,153 | | Operating Income | 2,422,775 | 2,835,908 | -413,133 | | Expected Credit Losses / Other Asset Impairment Losses | (215,577) | (903,809) | +688,232 | [Financial Performance Summary](index=8&type=section&id=3.1%20Financial%20Performance%20Summary) In the first half of 2025, Luzhou Bank's pre-tax profit increased by 19.78% year-on-year to RMB 1.24 billion, and net profit increased by 11.65% to RMB 902 million, mainly driven by a significant reduction in expected credit losses 2025 H1 Pre-tax Profit Change Impact (RMB Thousand) | Item | Amount | | :--- | :--- | | Pre-tax Profit for the 6 months ended June 30, 2024 | 1,035,133 | | Change in Net Interest Income | 139,343 | | Change in Net Fee and Commission Income | (3,932) | | Change in Net Gains from Trading Activities, Financial Investments, and Other Operating Income | (548,544) | | Change in Operating Expenses | (70,185) | | Change in Expected Credit Losses / Other Asset Impairment Losses | 688,232 | | Change in Share of Profit of Associates | (121) | | Pre-tax Profit for the 6 months ended June 30, 2025 | 1,239,926 | [Operating Income](index=9&type=section&id=3.2%20Operating%20Income) In the first half of 2025, Luzhou Bank's operating income decreased by 14.57% year-on-year to RMB 2.42 billion, with net interest income's share rising to 78.30% and non-interest net income's share falling to 21.70% 2025 H1 Operating Income Composition (%) | Item | 2025 | 2024 | | :--- | :--- | :--- | | Net Interest Income | 78.30 | 61.98 | | Net Fee and Commission Income | 3.25 | 2.91 | | Net Gains from Trading Activities, Financial Investments, and Other Operating Income | 18.45 | 35.11 | | Total | 100.00 | 100.00 | [Net Interest Income](index=9&type=section&id=3.3%20Net%20Interest%20Income) In the first half of 2025, Luzhou Bank's net interest income increased by 7.93% year-on-year to RMB 1.897 billion, driven by growth in interest-earning assets and a decrease in interest-bearing liability costs, despite declines in net interest margin and net interest spread - Net interest income increased by **7.93%** year-on-year to **RMB 1.897 billion**, primarily due to growth in interest-earning assets and a decrease in interest-bearing liability costs[19](index=19&type=chunk) - Net interest margin decreased by **0.11 percentage points** to **2.44%**, and net interest spread decreased by **0.06 percentage points** to **2.71%**[24](index=24&type=chunk) 2025 H1 Net Interest Income Change Analysis (RMB Thousand) | Item | Scale Factor | Interest Rate Factor | Net Increase (Decrease) | | :--- | :--- | :--- | :--- | | Change in Interest Income | 466,459 | (339,869) | 126,590 | | Change in Interest Expense | 292,072 | (304,825) | (12,753) | | Change in Net Interest Income | 174,387 | (35,044) | 139,343 | [Interest Income](index=11&type=section&id=3.4%20Interest%20Income) In the first half of 2025, Luzhou Bank's interest income increased by 3.38% year-on-year to RMB 3.872 billion, primarily driven by the growth in interest-earning assets, with customer loan interest income being the main contributor - Interest income increased by **3.38%** year-on-year to **RMB 3.872 billion**, mainly influenced by the growth in interest-earning assets[27](index=27&type=chunk) - Customer loan interest income: **RMB 3.354 billion**, a year-on-year increase of **7.15%**[28](index=28&type=chunk) - Investment interest income: **RMB 421 million**, a year-on-year decrease of **19.46%**, mainly due to a decrease in the average yield on investments[31](index=31&type=chunk) - Interest income from balances with central bank: **RMB 66 million**, a year-on-year increase of **18.16%**, mainly due to an increase in deposit size[33](index=33&type=chunk) [Interest Expense](index=13&type=section&id=3.5%20Interest%20Expense) In the first half of 2025, Luzhou Bank's interest expense decreased by 0.64% year-on-year to RMB 1.975 billion, primarily due to a decrease in the average cost of interest-bearing liabilities, with customer deposit interest expense and debt instrument interest expense being the main components - Interest expense decreased by **0.64%** year-on-year to **RMB 1.975 billion**, primarily due to a decrease in the average cost of interest-bearing liabilities[34](index=34&type=chunk) - Customer deposit interest expense: **RMB 1.713 billion**, a year-on-year increase of **2.79%**[35](index=35&type=chunk) - Interest expense on deposits from and borrowings from banks and other financial institutions: **RMB 38 million**, a year-on-year decrease of **45.85%**, mainly due to a decrease in scale[38](index=38&type=chunk) - Interest expense on debt instruments issued: **RMB 172 million**, a year-on-year decrease of **8.84%**, mainly due to a decrease in the average cost rate[39](index=39&type=chunk) [Net Non-Interest Income](index=14&type=section&id=3.6%20Net%20Non-Interest%20Income) In the first half of 2025, Luzhou Bank's net non-interest income significantly decreased by 51.24% year-on-year to RMB 526 million, primarily due to a reduction in net gains from trading activities, financial investments, and other operating income - Net non-interest income decreased by **51.24%** year-on-year to **RMB 526 million**[41](index=41&type=chunk) 2025 H1 Net Non-Interest Income Composition (RMB Thousand) | Item | 2025 | 2024 | | :--- | :--- | :--- | | Net Fee and Commission Income | 78,660 | 82,592 | | Net Gains from Trading Activities, Financial Investments, and Other Operating Income | 447,092 | 995,636 | | Total Net Non-Interest Income | 525,752 | 1,078,228 | [Net Fee and Commission Income](index=14&type=section&id=3.7%20Net%20Fee%20and%20Commission%20Income) In the first half of 2025, Luzhou Bank's net fee and commission income decreased by 4.76% year-on-year to RMB 78.66 million, mainly due to a decline in wealth management business fee income - Net fee and commission income decreased by **RMB 3.932 million** to **RMB 78.66 million** year-on-year[42](index=42&type=chunk) 2025 H1 Fee and Commission Income Composition (RMB Thousand) | Item | 2025 | 2024 | | :--- | :--- | :--- | | Wealth Management Business Fee Income | 78,907 | 94,274 | | Agency Business Fee Income | 5,301 | 1,254 | | Guarantee and Commitment Business Fee Income | 13,342 | 3,991 | | Total Fee and Commission Income | 102,556 | 104,615 | | Fee and Commission Expense | (23,896) | (22,023) | | Net Fee and Commission Income | 78,660 | 82,592 | [Net Gains from Trading Activities, Financial Investments, and Other Operating Income](index=15&type=section&id=3.8%20Net%20Gains%20from%20Trading%20Activities%2C%20Financial%20Investments%2C%20and%20Other%20Operating%20Income) In the first half of 2025, Luzhou Bank's combined net gains from trading activities, financial investments, and other operating income decreased by 55.09% year-on-year to RMB 447 million, with all components showing a downward trend - Combined net gains from trading activities, financial investments, and other operating income decreased by **RMB 549 million**, a **55.09%** decrease year-on-year[45](index=45&type=chunk) 2025 H1 Net Gains from Trading Activities, Financial Investments, and Other Operating Income Composition (RMB Thousand) | Item | 2025 | 2024 | | :--- | :--- | :--- | | Net Gains from Trading Activities | 321,174 | 492,091 | | Net Gains from Financial Investments | 88,745 | 197,435 | | Other Operating Income | 37,173 | 306,110 | | Total | 447,092 | 995,636 | [Operating Expenses](index=15&type=section&id=3.9%20Operating%20Expenses) In the first half of 2025, Luzhou Bank's operating expenses increased by 7.82% year-on-year to RMB 968 million, primarily due to increased staff costs, while business and administrative expenses decreased - Operating expenses increased by **7.82%** year-on-year to **RMB 968 million**[47](index=47&type=chunk) - Staff costs increased by **7.76%** year-on-year to **RMB 479 million**[47](index=47&type=chunk) - Business and administrative expenses decreased by **5.32%** year-on-year to **RMB 281 million**[47](index=47&type=chunk) [Expected Credit Losses / Other Asset Impairment Losses](index=16&type=section&id=3.10%20Expected%20Credit%20Losses%20%2F%20Other%20Asset%20Impairment%20Losses) In the first half of 2025, Luzhou Bank's expected credit losses / other asset impairment losses significantly decreased by 76.15% year-on-year to RMB 216 million, with loan expected credit losses decreasing by 28.60% - Expected credit losses / other asset impairment losses decreased by **76.15%** year-on-year to **RMB 216 million**[50](index=50&type=chunk) - Loan expected credit losses were **RMB 452 million**, a year-on-year decrease of **28.60%**[52](index=52&type=chunk) 2025 H1 Major Components of Expected Credit Losses (RMB Thousand) | Item | 2025 | 2024 | | :--- | :--- | :--- | | Expected Credit Losses on Loans Measured at Amortized Cost | 451,919 | 630,126 | | Expected Credit Losses on Credit-Type Financial Investments | (231,868) | 22,072 | | Expected Credit Losses on Financial Assets Measured at Amortized Cost | 4,446 | 248,389 | | Total | 215,577 | 903,809 | [Analysis of Key Balance Sheet Items](index=17&type=section&id=4.%20Analysis%20of%20Key%20Balance%20Sheet%20Items) As of June 30, 2025, Luzhou Bank's total assets increased by 12.43% year-on-year to RMB 192.25 billion, driven by loan growth, while total liabilities increased by 13.06% to RMB 179.26 billion, with customer deposits as the primary funding source - Total assets increased by **12.43%** year-on-year to **RMB 192.25 billion**, primarily due to growth in customer loans and other items[53](index=53&type=chunk) - Total liabilities increased by **13.06%** year-on-year to **RMB 179.26 billion**, mainly due to steady growth in customer deposits[74](index=74&type=chunk) - Shareholders' equity increased by **4.44%** year-on-year to **RMB 12.993 billion**[80](index=80&type=chunk) [Assets](index=17&type=section&id=4.1%20Assets) As of June 30, 2025, Luzhou Bank's total assets increased by 12.43%, with net customer loans accounting for 58.20% and financial investments for 18.49% of total assets; corporate loans grew by 15.78%, while personal loans decreased by 4.37% 2025 H1 Total Assets Composition (RMB Thousand) | Item | Amount | Percentage of Total % | | :--- | :--- | :--- | | Net Customer Loans | 111,900,229 | 58.20 | | Financial Investments - Financial Assets at Fair Value Through Profit or Loss | 35,550,571 | 18.49 | | Financial Investments - Financial Assets at Amortized Cost | 20,638,532 | 10.74 | | Total Assets | 192,253,762 | 100.00 | - Total customer loans were **RMB 117.59 billion**, an increase of **13.15%** from the end of the previous year[57](index=57&type=chunk) - Total corporate loans were **RMB 103.78 billion**, an increase of **15.78%** from the end of the previous year, accounting for **88.26%** of total customer loans[59](index=59&type=chunk) - Personal loans were **RMB 12.845 billion**, a decrease of **4.37%** from the end of the previous year, accounting for **10.92%** of total customer loans[61](index=61&type=chunk) - Investment book value was **RMB 63.61 billion**, an increase of **9.88%** from the end of the previous year[62](index=62&type=chunk) [Liabilities](index=21&type=section&id=4.2%20Liabilities) As of June 30, 2025, Luzhou Bank's total liabilities increased by 13.06%, with customer deposits accounting for 86.51% as the primary funding source, and corporate demand deposits' share of total customer deposits increasing 2025 H1 Total Liabilities Composition (RMB Thousand) | Item | Amount | Percentage of Total % | | :--- | :--- | :--- | | Customer Deposits | 155,081,860 | 86.51 | | Debt Instruments Issued | 14,366,963 | 8.01 | | Borrowings from Central Bank | 5,609,509 | 3.13 | | Total Liabilities | 179,260,751 | 100.00 | - Total customer deposits were **RMB 155.082 billion**, an increase of **14.61%** from the end of the previous year[76](index=76&type=chunk) - The proportion of corporate demand deposits to total customer deposits was **32.43%**, an increase of **2.65 percentage points** from the end of the previous year[77](index=77&type=chunk) - Debt instruments issued were **RMB 14.367 billion**, an increase of **12.72%** from the end of the previous year[79](index=79&type=chunk) [Shareholders' Equity](index=23&type=section&id=4.3%20Shareholders%27%20Equity) As of June 30, 2025, Luzhou Bank's total shareholders' equity was RMB 12.993 billion, an increase of 4.44% from the end of the previous year 2025 H1 Shareholders' Equity Composition (RMB Thousand) | Item | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Share Capital | 2,717,752 | 2,717,752 | | Other Equity Instruments | 2,399,547 | 2,296,704 | | Retained Earnings | 2,960,546 | 2,627,492 | | Total Shareholders' Equity | 12,993,011 | 12,440,404 | [Other Financial Information](index=23&type=section&id=5.%20Other%20Financial%20Information) As of the end of the reporting period, Luzhou Bank's credit commitments amounted to RMB 4.042 billion, with no overdue debts, and some assets were pledged to the central bank as collateral - Credit commitments amounted to **RMB 4.042 billion**, representing the main component of off-balance sheet items[82](index=82&type=chunk) - There were no overdue debts at the end of the reporting period[83](index=83&type=chunk) - Some assets were pledged to the central bank as collateral in accordance with agreements[84](index=84&type=chunk) [Loan Quality Analysis](index=24&type=section&id=6.%20Loan%20Quality%20Analysis) As of June 30, 2025, Luzhou Bank's total loans increased by 13.13%, with the non-performing loan ratio slightly decreasing by 0.01 percentage points to 1.18%; corporate loan NPL ratio remained flat, while retail loan NPL ratio increased by 0.52 percentage points to 4.18% - Total loans were **RMB 116.829 billion**, an increase of **13.13%** from the end of the previous year[85](index=85&type=chunk) - Total non-performing loans were **RMB 1.384 billion**, an increase of **RMB 156 million** from the end of the previous year[85](index=85&type=chunk) - Non-performing loan ratio was **1.18%**, a decrease of **0.01 percentage points** from the end of the previous year[85](index=85&type=chunk) - Corporate loan NPL ratio remained flat compared to the end of the previous year, while retail loan NPL ratio increased by **0.52 percentage points** to **4.18%**[93](index=93&type=chunk)[95](index=95&type=chunk) [Loan Distribution by Five-Category Classification](index=24&type=section&id=Loan%20Distribution%20by%20Five-Category%20Classification) As of June 30, 2025, Luzhou Bank's total non-performing loans amounted to RMB 1.384 billion, with a non-performing loan ratio of 1.18%; the proportion of substandard and doubtful loans decreased, while loss loans increased 2025 H1 Loan Five-Category Classification Distribution (RMB Thousand) | Item | June 30, 2025 Amount | Percentage of Total % | | :--- | :--- | :--- | | Pass Loans | 113,599,469 | 97.24 | | Special Mention Loans | 1,845,647 | 1.58 | | Substandard Loans | 419,716 | 0.36 | | Doubtful Loans | 294,557 | 0.25 | | Loss Loans | 670,106 | 0.57 | | Total Non-performing Loans | 1,384,379 | 1.18 | [Loan and NPL Distribution by Industry](index=25&type=section&id=Loan%20and%20NPL%20Distribution%20by%20Industry) As of June 30, 2025, Luzhou Bank's corporate non-performing loans were primarily concentrated in real estate, leasing and business services, and construction, accounting for 88.10% of total corporate NPLs - Corporate non-performing loans mainly include real estate, leasing and business services, and construction, accounting for **88.10%** of total corporate non-performing loans[89](index=89&type=chunk) 2025 H1 Corporate Loan NPL Ratio (by Industry) | Industry | Loan Amount (RMB Thousand) | NPL Ratio % | | :--- | :--- | :--- | | Real Estate | 7,867,678 | 4.94 | | Leasing and Business Services | 35,613,768 | 0.56 | | Construction | 34,522,607 | 0.46 | [Loan and NPL Distribution by Product Type](index=26&type=section&id=Loan%20and%20NPL%20Distribution%20by%20Product%20Type) As of June 30, 2025, corporate loans' share increased to 88.83% with a flat NPL ratio, while retail loan balance decreased, its share declined, and the NPL ratio rose by 0.52 percentage points to 4.18% - Corporate loan share increased by **2.03 percentage points** to **88.83%**, with the NPL ratio remaining flat[92](index=92&type=chunk)[93](index=93&type=chunk) - Retail loan balance decreased by **RMB 587 million**, its share decreased by **2.02 percentage points** to **10.99%**, and the non-performing loan ratio increased by **0.52 percentage points** to **4.18%**[94](index=94&type=chunk)[95](index=95&type=chunk) [Loan and NPL Distribution by Region](index=27&type=section&id=Loan%20and%20NPL%20Distribution%20by%20Region) As of June 30, 2025, loans in Luzhou accounted for 66.71% of the total with an NPL ratio of 1.25%, while loans outside Luzhou accounted for 33.29% with an NPL ratio of 1.05% 2025 H1 Loan NPL Ratio (by Region) | Region | Loan Amount (RMB Thousand) | Percentage of Total % | NPL Ratio % | | :--- | :--- | :--- | :--- | |

格隆汇8月18日丨泸州银行(01983.HK)公告，董事会会议将于2025年8月28日(星期四)举行，藉以(其中包 括)考虑及批准本行截至2025年6月30日止6个月中期业绩及其发布，并考虑建议派发中期股息(如有)。 ...

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，概不會就因本公告全部或任何部分內容而產生或因 依賴該等內容而引致之任何損失承擔任何責任。 （於中華人民共和國註冊成立的股份有限公司） （股份代號：1983） 董事會會議通告 瀘州銀行股份有限公司（「本行」）董事會（「董事會」）謹此宣佈，董事會會議將於 2025年8月28日（星期四）舉行，藉以（其中包括）考慮及批准本行截至2025年6月 30日止六個月之中期業績及其發佈，並考慮建議派發中期股息（如有）。 承董事會命 瀘州銀行股份有限公司* 董事長 游江 中國瀘州，2025年8月18日 截至本公告日期，董事會成員包括執行董事游江先生及劉仕榮先生；非執行董事 潘麗娜女士、熊國銘先生、羅火明先生及陳萍女士；以及獨立非執行董事鍾錦先 生、高晉康先生、程如龍先生、韓子榮先生及范靜東先生。 * 瀘州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。 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年7月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 泸州银行股份有限公司 呈交日期: 2025年8月6日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01983 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 753,120,000 | RMB | | 1 RMB | | 753,120,000 | | 增加 / 減少 (-) | | | 0 | | | RMB | | 0 | | 本月底結存 | | | 753,120,000 | RMB | | 1 RMB | | 753,120,000 | | 2. 股份分類 | 普通股 | 股份類別 | 其他類別 (請註明 ...

Distribution Plan - The company announced a profit distribution plan for the year 2024, with a total share capital of 2,717,752,062 shares, distributing a cash dividend of 1.2 RMB per 10 shares, totaling 326,130,247.44 RMB (including tax) [1] Dividend Recipients and Method - The dividend will be distributed to shareholders listed on the company's register as of July 11, 2025 [2] - The distribution will be executed in the form of cash dividends [3] - The payment date for the dividends is set to begin on July 29, 2025 [4] Implementation Procedures - For individual domestic shareholders who have signed a cash dividend account binding agreement, the company will automatically transfer the dividends to their linked bank accounts after withholding a 20% personal income tax [5] - Individual domestic shareholders who have not signed the agreement must present their original share certificate, valid ID, and bank account details to receive their dividends [5] - For corporate domestic shareholders with a signed agreement, dividends will also be automatically transferred to their linked accounts [6] - Corporate shareholders without an agreement must provide necessary documentation to receive their dividends [6] Dividend Processing and Consultation - Shareholders with a binding agreement can collect their dividends at any of the company's branches, while those without an agreement must visit the headquarters for processing [7] - The board office is available for inquiries, with a contact number provided [8] Reference Documents - The announcement includes the profit distribution plan and the resolutions from the 2024 annual shareholders' meeting [9]

Core Viewpoint - The article emphasizes the significant growth potential in the renewable energy sector, driven by increasing global demand for sustainable energy solutions and supportive government policies [1] Group 1: Industry Overview - The renewable energy market is projected to reach a value of $1.5 trillion by 2025, growing at a compound annual growth rate (CAGR) of 8% from 2020 [1] - Solar and wind energy are leading the growth, with solar energy capacity expected to increase by 20% annually over the next five years [1] - Government incentives and investments in green technology are crucial for the industry's expansion, with many countries committing to net-zero emissions by 2050 [1] Group 2: Company Insights - Company A has reported a 15% increase in revenue year-over-year, attributed to its expansion in solar panel production [1] - Company B is investing $500 million in research and development to enhance battery storage technology, which is essential for the integration of renewable energy sources [1] - Company C has secured contracts worth $300 million for offshore wind projects, indicating strong demand in the sector [1]

Core Viewpoint - The aging population in China is increasing, with 22.0% of the population aged 60 and above by the end of 2024, leading to a focus on the "digital divide" in financial services for the elderly [1] Group 1: Innovations in Services - Luzhou Bank has developed a dedicated service channel for customers aged 60 and above, allowing them to connect directly with experienced customer service representatives, thus eliminating the need for navigating complex voice menus [2] - The bank has launched a "Caring Version" of its mobile banking app, featuring enlarged fonts, simplified functions, and voice prompts to assist elderly users [2] - Luzhou Bank has introduced a video connection service in its mobile banking platform, enabling elderly customers to interact with bank staff from home, addressing mobility issues [2] Group 2: In-Branch Services - Luzhou Bank has created an "Elderly Service Manual" tailored to the needs of older customers and established dedicated service positions in branches, staffed by personnel wearing "Elderly Service Specialist" badges [4] - The bank has implemented "three service cards" at its branches to facilitate communication for elderly customers with hearing or mobility challenges, ensuring their needs are met [4] Group 3: Financial Safety and Education - Luzhou Bank emphasizes financial safety for elderly clients by conducting regular "Silver Hair Classes" to educate them on fraud prevention through various outreach methods [5] - The bank organizes engaging activities, such as paper-cutting and photography, to foster social interaction among elderly clients while reinforcing its commitment to community service [5] - The overall transformation of Luzhou Bank's services for the elderly reflects a commitment to the principle of "finance for the people," combining technological upgrades with a human touch [5]

Core Insights - The 2025 China International Financial Expo has commenced in Shanghai, featuring over 300 participating institutions, including domestic and international financial entities, technology companies, and industry organizations [1] - Luzhou Bank, as the first listed bank in a prefecture-level city in Southwest China, showcased its innovative practices in inclusive finance, pension finance, financial technology, and collaborative construction of a western financial center [1] - The bank's new generation electronic banking platform project won the "Best Technology Innovation Award" at a recent financial competition, highlighting its technological advancements [1] Group 1: Inclusive Finance Innovations - Luzhou Bank has launched a fully intelligent credit center system, enabling "minute-level credit approval" through AI decision engines and blockchain technology, providing a seamless service experience [2] - The bank has developed a matrix of 23 online products to cater to various small and micro enterprises, offering customized financial solutions across different industries [2] Group 2: Elderly Financial Services - In response to the growing demand for pension financial services due to an aging population, Luzhou Bank has created a "five-in-one" service system, focusing on mobile, companionship, remote, on-site, and security services [3] - The bank's "elderly-friendly" mobile banking version simplifies operations for older users, enhancing accessibility through larger fonts and clearer layouts [3] Group 3: Key Features of Elderly Services - The bank's elderly services include features like one-click access to video customer service and automatic identification of users over 60, ensuring quick access to human representatives [4] - Luzhou Bank has introduced a "fraud prevention safety bell" service, requiring verification from family members for transactions, thereby protecting elderly clients from financial fraud [4] Group 4: Future Directions - Luzhou Bank views participation in the China International Financial Expo as a significant opportunity to showcase innovation, enhance industry communication, and boost brand influence [5] - The bank aims to continue leading with technological innovation, integrating financial technology with business development to support the real economy and contribute to the construction of a western financial center [5]

Core Viewpoint - Luzhou Bank's planned capital increase of approximately HKD 1.8 billion has been abruptly halted due to shareholder objections, impacting its refinancing efforts [1][4] Group 1: Capital Increase Plan - Luzhou Bank intended to issue up to 1 billion new H-shares to raise no less than HKD 1.85 billion, with a board meeting scheduled for June 30 to discuss this plan [1][3] - The bank's decision to pause the capital increase was made after receiving feedback from shareholders, indicating a divergence of opinions among them [4][6] - The proposed issuance price of HKD 1.85 per share is significantly lower than the bank's net asset value and current market price, which may have contributed to the objections [1][7] Group 2: Financial Performance - For the year ending 2024, Luzhou Bank reported a revenue of CNY 5.209 billion, a year-on-year increase of 9.2%, and a net profit of CNY 1.276 billion, up 28.31% [8] - The bank's total assets approached CNY 171 billion, with net customer loans of CNY 98.585 billion, reflecting growth rates of 8.48% and 11.44%, respectively [8] Group 3: Capital Adequacy - As of the end of 2024, Luzhou Bank's core Tier 1 capital adequacy ratio stood at 8.27%, with total capital adequacy at 13.12% [2][8] - The bank has issued perpetual bonds worth CNY 6 billion and plans to issue an additional CNY 18 billion to bolster its capital base [8] Group 4: Loan Quality - Luzhou Bank's non-performing loan ratio was 1.19%, a decrease of 0.16 percentage points from the previous year, but the proportion of loans under watch increased from 1.28% to 2.1% [9] - The bank's top ten watch loans totaled CNY 1.942 billion, heavily concentrated in the real estate and construction sectors, indicating potential risks [9]

Market Overview - The Hang Seng Index closed down 0.17% at 24,284.15 points, while the Hang Seng Tech Index fell 0.07% to 5,341.43 points, and the Hang Seng China Enterprises Index decreased by 0.47% to 8,762.47 points [2] - The automotive, pharmaceutical, and banking sectors showed weakness, while the metals sector experienced gains [4] Metals Sector Performance - The metals sector saw significant gains, with Jiangxi Copper rising over 7%, Tianqi Lithium and Luoyang Molybdenum both increasing over 6%, and Zijin Mining among the top performers [4] - Notable stock performances included Luoyang Molybdenum at 6.26% with a market cap of 191.02 billion, Tianqi Lithium at 6.78% with a market cap of 56.97 billion, and Ganfeng Lithium at 2.74% with a market cap of 69.64 billion [5] Commodity Price Outlook - Goldman Sachs forecasts that copper prices will peak at approximately $10,050 per ton by August 2025 due to tightening supply in markets outside the U.S. [5] - Ping An Securities reports that the weakening of the U.S. dollar credit system will continue to drive precious metal prices higher, while industrial metals like copper and aluminum are expected to benefit from a loose monetary environment [5] Automotive Sector Dynamics - Xiaomi Group's stock rose by 3.6%, while major automotive stocks like Xpeng Motors, NIO, and BYD saw declines of 3.17%, 1.84%, and 1.19% respectively [6][7] - Market analysts suggest that the automotive sector may be impacted by Xiaomi's competitive pricing strategy for its new YU7 series, with expectations of monthly sales reaching 60,000 to 80,000 units [7] Banking Sector Trends - Chinese bank stocks experienced slight declines, with Luzhou Bank, Chongqing Bank, and China Merchants Bank dropping by 3.49%, 2.91%, and 2.39% respectively [8] - Recent reports indicate that insurance funds have been favoring high-dividend bank stocks, but this trend may be slowing down as investment teams shift focus towards technology innovation board companies [8] Financial Sector Developments - Huaxing Capital Holdings saw a significant intraday rise of nearly 38% before closing up 4.67% at HKD 4.48 per share, following its announcement of a $100 million investment in the Web 3.0 and cryptocurrency asset space [11] - The Hong Kong Securities and Futures Commission announced an increase in position limits for futures and options contracts on major indices, effective July 2, 2025, aimed at enhancing market flexibility [12]