Market Overview - Last week, spot gold opened at $3368.96/oz, peaked at $3453.63/oz, and closed at $3447.57/oz, with a weekly increase of 2.31% [3] - Spot silver opened at $38.918/oz, reached a high of $39.967/oz, and closed at $39.669/oz, marking a weekly rise of 2.24% [3] - The increase in gold prices was driven by heightened safe-haven demand due to concerns over the independence of the Federal Reserve, political instability in France, and cooling expectations for Russia-Ukraine talks [3] - Gold prices rose 4.7% month-on-month, while silver prices increased by 8.3% [3] ETF Holdings - As of August 29, 2025, SPDR Gold Trust's holdings increased by 20.91 tons to a total of 977.68 tons [3] - iShares Silver ETF's silver holdings rose by 21.18 tons to 15,310 tons [5] CFTC Positions - There was a net increase in gold positions while silver saw a net decrease, indicating a strengthening of both investment and speculative demand for gold [10] - The report suggests investors should participate with light positions and be flexible in their trading strategies [10] Futures Market - Gold futures basis remained stable, closing at 5.45 yuan/gram, with a peak of 5.66 yuan/gram [10] - Silver futures basis declined, closing at 48 yuan/kilogram, with a high of 56 yuan/kilogram [12] Domestic and International Price Differences - The domestic and international price difference for gold fluctuated, closing at -0.10 yuan/gram [12] - The silver price difference increased, closing at 399 yuan/kilogram [13] Delivery and Inventory - Both gold and silver showed a bearish trend in deferred delivery, suggesting a focus on potential shifts in market sentiment [13]

Group 1 - Zhejiang Zheshang Bank announced a capital increase for Zhejiang Zheshang Financial Leasing Co., Ltd. (Zheshang Jinzu) with the approval of its board of directors [2] - The capital increase involves the issuance of 70 million shares at a price of 1.9875 CNY per share, with Zheshang Bank subscribing to 50 million shares for a total investment of 999.375 million CNY [2] - Following the capital increase, Zheshang Bank's ownership in Zheshang Jinzu will rise from 51% to 54.04% [2] Group 2 - Zheshang Jinzu is a subsidiary of Zheshang Bank, co-invested by Zhoushan Ocean Comprehensive Development Investment Co., Ltd. and Zhejiang Provincial Innovation Investment Group Co., Ltd. [3] - As of the end of 2024, Zheshang Jinzu's total assets are reported to be 78.327 billion CNY, with projected revenue of 2.361 billion CNY and a net profit of 1.034 billion CNY [3]

9月1日，浙商银行与浙银金租签订《浙江浙银金融租赁股份有限公司增资认购协议》，协议约定：浙银 金租本次增资扩股发行股份共70000万股，增资价格为1.9875元/股（以经评估的截至2024年末浙银金租 每股净资产值为基础进行定价），浙商银行认购浙银金租本次新发行股份50000万股，认购价款为 9.9375亿元。增资扩股后，浙商银行对浙银金租的持股比例将由51%提升至54.04%。 舟山海洋综合开发投资有限公司亦按照相同的认购价格认购20000万股。浙江省创新投资集团有限公司 （曾用名"浙江省金融控股有限公司"）不参与本次增资认购。 浙银金租系浙商银行与舟山海洋综合开发投资有限公司和浙江省创新投资集团有限公司共同投资设立， 为浙商银行投资并控股的子公司，根据《银行保险机构关联交易管理办法》《香港联合交易所主板上市 规则》等规定属于该行关联方。截至2024年末，浙银金租资产总额为783.27亿元，2024年实现营业收入 23.61亿元，净利润10.34亿元（经审计）。 北京商报讯（记者 宋亦桐）9月1日，浙商银行发布公告，经该行第七届董事会2025年第五次临时会议 审议批准，该行拟对浙江浙银金融租赁股份有限公司（ ...

Core Viewpoint - The mid-year performance report for 2025 reveals that the ten listed joint-stock banks have shown a stable overall operational trend, with total assets reaching 73.38 trillion yuan and net profits totaling 278.125 billion yuan, while also exhibiting diverse development characteristics across the industry [2] Group 1: Asset Performance - Total assets of the joint-stock banks have generally increased, with the leading banks being China Merchants Bank and Industrial Bank, with total assets of 12.657 trillion yuan and 10.614 trillion yuan respectively, marking growth rates of 4.16% and 1.01% compared to the end of the previous year [3][4] - Among the ten banks, except for China Minsheng Bank and Bohai Bank, all other banks achieved positive growth in total assets [4] Group 2: Revenue and Profitability - Seven out of ten banks reported a year-on-year decline in operating income, with only Shanghai Pudong Development Bank, China Minsheng Bank, and Bohai Bank achieving revenue growth [5][7] - China Merchants Bank led in net profit with 74.930 billion yuan, showing a slight increase of 0.25% year-on-year, while four banks experienced a decline in net profit [8][9] Group 3: Net Interest Margin - The net interest margin has shown a significant downward trend, with eight out of ten banks continuing to decline, influenced by factors such as the reduction in the Loan Prime Rate (LPR) and adjustments in mortgage rates [9][10] - China Merchants Bank reported the highest net interest margin at 1.88%, although it decreased by 0.12 percentage points year-on-year [10][11] Group 4: Asset Quality - The non-performing loan (NPL) balances of all ten banks have increased compared to the end of the previous year, with Bohai Bank experiencing the fastest growth in NPLs, reaching 17.269 billion yuan, a 4.79% increase [12][13] - The highest NPL ratios were recorded by Bohai Bank (1.81%), Huaxia Bank (1.60%), and China Minsheng Bank (1.48%), while China Merchants Bank had the lowest at 0.93% [14] Group 5: Provision Coverage Ratio - The provision coverage ratio has decreased for seven banks compared to the end of the previous year, with Ping An Bank experiencing the largest decline of 12.23 percentage points [15] - China Merchants Bank has the highest provision coverage ratio at 410.93%, while China Minsheng Bank has the lowest at 145.06% [15]

Core Viewpoint - Zhejiang Zheshang Bank announced a capital increase subscription agreement with Zhejiang Yinjin Financial Leasing, which will result in the issuance of 700 million new shares at a price of RMB 1.9875 per share [1] Group 1: Capital Increase Details - The capital increase subscription agreement is set to be completed by September 1, 2025 [1] - Before the completion of the capital increase, Zhejiang Zheshang Bank, the Provincial Innovation Investment Group, and Zhoushan Haotou hold 51.00%, 29.00%, and 20.00% of Zhejiang Yinjin Financial Leasing, respectively [1] - After the completion of the capital increase, the expected shareholding will change to 54.00% for Zhejiang Zheshang Bank, with the other two stakeholders maintaining their respective shares [1]

证券代码：601916 证券简称：浙商银行 公告编号：2025-044 浙商银行股份有限公司 关于对控股子公司增资暨关联交易的进展公告 二、增资标的基本情况 交易简要内容：经浙商银行股份有限公司（以下简称"本公司"或"浙商银 行"）第七届董事会 2025 年第五次临时会议审议批准，本公司拟对浙江浙银 金融租赁股份有限公司（以下简称"浙银金租"）进行增资。该交易事项构成 关联交易，详见本公司于上海证券交易所及香港联合交易所披露的《浙商银行 股份有限公司关于拟对控股子公司增资暨关联交易的公告》（公告编号：2025- 036）。 一、增资暨关联交易进展 2025 年 9 月 1 日，本公司与浙银金租签订《浙江浙银金融租赁股份有限公 司增资认购协议》（以下简称"《增资认购协议》"），协议约定：浙银金租 本次增资扩股发行股份共 70,000 万股，增资价格为 1.9875 元/股（以经评估的 截至 2024 年末浙银金租每股净资产值为基础进行定价），本公司认购浙银金租 本次新发行股份 50,000 万股，认购价款为 99,375.00 万元人民币。 1 截至 2025 年 9 月 1 日，本公司已完成与浙银金租增资认购 ...

Core Viewpoint - Zhejiang Zheshang Bank (601916) has entered into a capital increase subscription agreement with Zhejiang Yinjing Leasing, which involves the issuance of 700 million new shares at a price of RMB 1.9875 per share, with the bank subscribing to 500 million shares for a total of RMB 994 million [1][2] Group 1 - The capital increase will enhance the core capital of Zhejiang Yinjing Leasing, improving its capital adequacy ratio and supporting sustainable business development [2] - Following the completion of the capital increase, the shareholding structure will change, with Zhejiang Zheshang Bank expected to hold 54.04%, Zhejiang Provincial Innovation Investment Group 24.68%, and Zhoushan Ocean Comprehensive Development Investment Co., Ltd. 21.28% [1] - The capital increase is expected to strengthen the strategic synergy between the bank and its subsidiary, with no significant impact on the bank's normal operations and financial status [2]

增资认购完成前，本行、省创新投资集团及舟山海投，分别持有浙银金租51.00%，29.00%及20.00%的 股份。增资认购完成后，本行、省创新投资集团及舟山海投，预期分别持有浙银金租54.04%，24.68% 及21.28%的股份。 增资认购将进一步补充浙银金租核心资本，以增强其资本充足率，并支持其可持续业务发展。此外，预 计这将有利於提升本行的资本回报，强化与其附属公司的战略协同。订立增资认购协议及其项下增资认 购预期不存在损害本行及其股东整体利益的情形，且预期对本行正常经营活动及财务状况并无重大影响 格隆汇9月1日丨浙商银行(02016.HK)发布公告，于2025年9月1日，本行与浙银金租订立增资认购协议。 根据增资认购协议，浙银金租将增发7亿股股份，认购价格为人民币1.9875元每增发股份，本行将认购5 亿股增发股份，总认购价款为人民币993.75百万元。舟山海洋综合开发投资有限公司（浙银金租的股东 之一），亦按照相同的认购价格认购2亿股增发股份。浙江省创新投资集团有限公司（浙银金租的股东 之一）不参与本次增资认购。 ...

Group 1 - The core point of the announcement is that Zheshang Bank has entered into a capital increase subscription agreement with Zheshang Financial Leasing, which involves the issuance of 700 million new shares at a price of RMB 1.9875 per share, with Zheshang Bank subscribing to 500 million shares for a total of RMB 994 million [1][2] - After the completion of the capital increase, Zheshang Bank's ownership in Zheshang Financial Leasing will increase from 51.00% to 54.04%, while the ownership of other shareholders will adjust accordingly [1] - The capital increase is expected to enhance the core capital of Zheshang Financial Leasing, improve its capital adequacy ratio, and support sustainable business development [2] Group 2 - The capital increase is anticipated to benefit Zheshang Bank by enhancing its capital returns and strengthening strategic synergies with its subsidiaries [2] - The agreement and the subsequent capital increase are not expected to harm the overall interests of Zheshang Bank and its shareholders, nor will it have a significant impact on the bank's normal operations and financial condition [2]

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，並明確表示概不就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。 CHINA ZHESHANG BANK CO., LTD. 浙商銀行股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：2016） 關連交易 訂立增資認購協議 茲提述浙商銀行股份有限公司（「本行」）日期為2024年12月27日及2025年6月27日 的公告（統稱，「該等公告」），內容有關擬對附屬公司增資事項及潛在關連交易。 除文義另有所指外，本公告所用詞彙與該等公告所界定者具有相同涵義。 訂立增資認購協議 董事會欣然宣佈，於2025年9月1日，本行與浙銀金租訂立增資認購協議（「增 資認購協議」）。根據增資認購協議，浙銀金租將增發7億股股份（「增發股 份」），認購價格（「認購價格」）為人民幣1.9875元每增發股份，本行將認購5億 股增發股份，總認購價款為人民幣993.75百萬元（「增資認購」）。舟山海洋綜合 開發投資有限公司（「舟山海投」）（浙銀金租的股東之一），亦按照相同的認購價 格認 ...