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]

Core Viewpoint - Zhejiang Zheshang Bank has entered into a capital increase subscription agreement with Zhejiang Yinxin Financial 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 consideration of RMB 993.75 million [1] Group 1: Capital Increase Details - Zhejiang Yinxin Financial Leasing will issue 700 million new shares, with the bank subscribing to 500 million shares [1] - The subscription price for the new shares is set at RMB 1.9875 per share [1] - Zheshang Bank's shareholding in Zhejiang Yinxin Financial Leasing will increase from 51.00% to 54.04% post-transaction [1] Group 2: Shareholding Changes - After the capital increase, Zhejiang Provincial Innovation Investment Group's shareholding will decrease from 29.00% to 24.68% [1] - Zhoushan Ocean Comprehensive Development Investment Co., Ltd. will subscribe to 200 million shares at the same price [1] - Zheshang Bank, Zhejiang Provincial Innovation Investment Group, and Zhoushan Ocean Comprehensive Development Investment Co., Ltd. will hold 54.04%, 24.68%, and 21.28% of shares respectively after the capital increase [1] Group 3: Strategic Implications - The capital increase is expected to enhance the core capital of Zhejiang Yinxin Financial Leasing, improving its capital adequacy ratio [1] - This move is anticipated to support sustainable business development for Zhejiang Yinxin Financial Leasing [1] - The agreement is expected to strengthen the strategic synergy between Zheshang Bank and its subsidiaries without harming the overall interests of the bank and its shareholders [1]

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 ...

FF301 致：香港交易及結算所有限公司 公司名稱: 浙商銀行股份有限公司 (「本行」) 呈交日期: 2025年9月1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) | 02016 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 5,920,200,000 | RMB | | 1 RMB | | 5,920,200,000 | | 增加 / 減少 (-) | | | 0 | | | RMB | | 0 | | 本月底結存 | | | 5,920,200,000 | RMB | | 1 RMB | | 5,920,200,000 | | 2. 股份分類 | 普通股 | 股份類別 | A | | 於香港聯交所上市 (註1) | | 否 | | | --- | --- | --- | --- ...

Investment Rating - The report maintains a strong buy recommendation for Zhejiang Commercial Bank (601916.SH) [5] Core Views - The bank is focusing on controlling scale while improving quality and efficiency, indicating a shift towards stable development rather than rapid growth [2][3] - The bank's asset quality is showing improvement, with a decrease in non-performing loans and a stable outlook for future risks [2][3] - The bank's non-interest income has seen a reduction, but the decline is narrowing, suggesting a potential recovery in this area [3] Performance Summary - In H1 2025, the bank's operating income, pre-provision operating profit (PPOP), and net profit attributable to shareholders decreased by 5.76%, 6.78%, and 4.15% year-on-year, respectively [1][12] - Loan growth for H1 2025 was 4.20%, with corporate loans increasing by 8.4% while retail loans decreased by 7.05% [2] - The net interest margin for H1 2025 was reported at 1.69%, a decrease of 7 basis points from the previous quarter [2] Asset Quality - As of Q2 2025, the non-performing loan ratio was 1.36%, down 2 basis points from the previous quarter, while the overdue rate increased to 2.12% [2] - The bank's provision coverage ratio stands at 169.78%, reflecting a slight decrease [2] Non-Interest Income - Other non-interest income decreased by 10.7% year-on-year in H1 2025, but the decline rate has significantly narrowed compared to previous quarters [3][31] - The bank has increased its focus on realizing gains from its investment portfolio, contributing to a positive shift in net investment income growth [3] Financial Data and Valuation - The bank's total revenue for 2025E is projected at 64.98 billion, reflecting a year-on-year decline of 3.9% [4] - The estimated net profit for 2025E is 14.287 billion, down 5.9% year-on-year [4] - The bank's price-to-earnings (PE) ratio is projected to be 6.7 for 2025E, while the price-to-book (PB) ratio is expected to be 0.5 [4]

Core Viewpoint - The implementation of the personal consumption loan interest subsidy policy will officially start on September 1, 2025, allowing residents to benefit from interest subsidies on eligible personal consumption loans issued by various banks [1][2]. Summary by Sections Policy Details - The subsidy will apply to personal consumption loans used for specific categories such as household vehicles, education, healthcare, and more, with a maximum subsidy of 1% per year, capped at 50% of the loan contract interest rate [2]. - Each borrower can receive a total subsidy of up to 3,000 yuan, corresponding to a cumulative consumption amount of 300,000 yuan, with a specific cap of 1,000 yuan for loans under 50,000 yuan [2]. Bank Promotions - Multiple banks, including Bank of China, China Construction Bank, and others, have begun promotional activities for their consumption loan products, utilizing social media and mobile banking platforms to inform customers about the upcoming subsidy [3][4]. - Banks are actively advertising specific loan products that qualify for the subsidy, such as "E-loan" and "Quick Loan" from Bank of China, and "i Car Loan" from Shanghai Pudong Development Bank [3]. Application Process - The application process for the subsidy will be similar to that of regular loans, with banks implementing systems to automatically identify eligible transactions for subsidy calculations [8]. - Customers will need to sign a supplementary agreement to authorize banks to access their transaction information for subsidy eligibility [8]. Customer Queries - Banks have addressed common customer questions regarding the subsidy, clarifying that both new and existing customers can benefit from the policy if their loans meet the criteria [9]. - The subsidy will be applied directly to the interest owed, simplifying the process for customers [10]. Channels for Application - Banks have emphasized that customers should apply for the subsidy through official channels, such as bank branches and mobile banking apps, and will not use third-party platforms for processing [11]. - No fees will be charged for processing the personal consumption loan subsidy [13].

Core Viewpoint - The personal consumption loan interest subsidy policy will officially start on September 1, 2025, allowing residents to benefit from interest subsidies on eligible loans used for consumption [1][2]. Group 1: Policy Implementation - The subsidy period is from September 1, 2025, to August 31, 2026, covering personal consumption loans issued by various financial institutions [1]. - The subsidy applies to loans used for specific consumption categories, including household vehicles, education, cultural tourism, and health care, with a maximum subsidy of 3,000 yuan for eligible loans [2][5]. Group 2: Subsidy Standards - The annual subsidy rate is set at 1% of the actual loan principal used for consumption, with a cap of 50% of the loan contract interest rate [2]. - Each borrower can receive a total subsidy of up to 3,000 yuan, corresponding to a cumulative consumption amount of 300,000 yuan, with a specific limit of 1,000 yuan for loans under 50,000 yuan [2]. Group 3: Bank Promotions and Preparations - Multiple banks, including Bank of China, China Construction Bank, and others, have begun promotional activities for their consumption loan products, utilizing social media and mobile banking platforms [3][5][6]. - Banks are optimizing their customer service channels to provide information about the subsidy, including dedicated sections in mobile banking apps and enhanced intelligent customer service responses [7][8]. Group 4: Application Process - The application process for the subsidy will be similar to standard loan applications, with banks able to automatically identify eligible transactions for subsidy processing [10]. - Customers must sign a supplementary agreement to authorize banks to access their transaction information for subsidy eligibility [10]. Group 5: Customer Eligibility and Funding - The subsidy is available to both new and existing customers, provided their loans meet the eligibility criteria during the subsidy period [11]. - Subsidy funds will be deducted directly from the interest charged on the loans, simplifying the process for customers [12].

Core Viewpoint - The personal consumption loan interest subsidy policy will officially start on September 1, 2025, allowing residents to benefit from interest subsidies on eligible loans used for consumption [1][2]. Summary by Sections Policy Implementation - The subsidy policy will be in effect from September 1, 2025, to August 31, 2026, covering personal consumption loans issued by various banks, excluding credit card transactions [1][2]. - The subsidy applies to loans used for specific consumption categories, including household vehicles, education, healthcare, and electronics, with a maximum subsidy of 3,000 yuan for eligible loans [2][5]. Subsidy Standards - The annual subsidy rate is set at 1% of the eligible loan principal, capped at 50% of the loan contract interest rate [2]. - Each borrower can receive a total subsidy of up to 3,000 yuan, corresponding to a total consumption amount of 300,000 yuan, with a specific cap of 1,000 yuan for loans under 50,000 yuan [2]. Bank Promotions - Multiple banks, including China Bank, Construction Bank, and others, have begun promotional activities for their consumption loan products, utilizing social media and mobile banking platforms for outreach [2][5][6]. - Banks are offering various loan products that qualify for the subsidy, such as "E-loan" and "Quick Loan" from China Bank, and "iCar Loan" from Shanghai Pudong Development Bank [5][6][7]. Application Process - The application process for the subsidy is designed to be straightforward, with banks automatically identifying eligible transactions through their systems [9]. - Customers may need to sign a supplementary agreement to authorize banks to access their transaction information for subsidy eligibility [9]. Customer Eligibility - The subsidy is available to both new and existing customers, including those who applied for loans before the policy's implementation date, provided they meet the eligibility criteria [10]. - The subsidy will be applied directly to the interest payments, reducing the amount owed by the borrower [11]. Channels for Application - Customers are encouraged to apply for the subsidy through official channels such as bank branches and mobile banking apps, with no third-party intermediaries involved [12]. - No fees will be charged for processing the subsidy applications [12].