Company Information and Performance Summary [Company Profile](index=1&type=section&id=1.1%20公司简介) Dah Sing Banking Group Limited and its subsidiaries primarily provide banking, financial, and other related services, with its holding company being Dah Sing Financial Group Limited, a Hong Kong-listed company - Dah Sing Banking Group Limited is a bank holding company, and its principal subsidiary, Dah Sing Bank, Limited, is a licensed bank in Hong Kong[8](index=8&type=chunk) - The Company's immediate and ultimate holding company is Dah Sing Financial Group Limited, a Hong Kong-listed company[9](index=9&type=chunk) [2025 Interim Performance Overview](index=1&type=section&id=1.2%202025%E5%B9%B4%E4%B8%AD%E6%9C%9F%E4%B8%9A%E7%BB%A9%E6%A6%82%E8%A7%88) For the six months ended June 30, 2025, Dah Sing Banking Group recorded unaudited profit attributable to shareholders of HK$1,578.9 million 2025 Interim Profit Attributable to Shareholders | Metric | Amount (HKD) | | :--- | :--- | | Profit Attributable to Shareholders | 1,578,900,000 | [Condensed Consolidated Income Statement](index=1&type=section&id=1.3%20简明综合收益账) For the six months ended June 30, 2025, the Group's operating income increased by 15.5% year-on-year to HK$3.796 billion, with net interest income up 9.4% and net fee and commission income up 20.4%; however, credit impairment losses significantly increased by 33.8% year-on-year Key Data from Condensed Consolidated Income Statement (For the six months ended June 30) | Metric | 2025 (HKD Thousand) | 2024 (HKD Thousand) | Change (%) | | :--- | :--- | :--- | :--- | | Net Interest Income | 2,776,458 | 2,538,695 | 9.4 | | Net Fee and Commission Income | 726,763 | 603,386 | 20.4 | | Operating Income | 3,795,596 | 3,286,757 | 15.5 | | Operating Expenses | (1,707,075) | (1,594,865) | 7.0 | | Operating Profit Before Impairment Losses | 2,088,521 | 1,691,892 | 23.4 | | Credit Impairment Losses | (728,082) | (544,007) | 33.8 | | Profit Before Tax | 1,819,057 | 1,579,921 | 15.1 | | Profit Attributable to Shareholders of the Company | 1,578,850 | 1,396,074 | 13.1 | | Basic Earnings Per Share | HK$1.12 | HK$0.99 | - | [Condensed Consolidated Statement of Comprehensive Income](index=2&type=section&id=1.4%20简明综合全面收益表) For the six months ended June 30, 2025, the Group's total comprehensive income for the period after tax was HK$1.883 billion, a significant year-on-year increase of 29.87%, primarily influenced by exchange differences on translating financial statements of overseas operations and net fair value changes in investment securities Key Data from Condensed Consolidated Statement of Comprehensive Income (For the six months ended June 30) | Metric | 2025 (HKD Thousand) | 2024 (HKD Thousand) | | :--- | :--- | | Profit for the Period | 1,578,850 | 1,396,074 | | Other Comprehensive Income for the Period, After Tax | 304,501 | 54,118 | | Total Comprehensive Income for the Period, After Tax | 1,883,351 | 1,450,192 | - Exchange differences on translating financial statements of overseas operations turned from a **loss of HK$212 million** in 2024 to a **gain of HK$281 million** in 2025[6](index=6&type=chunk) [Condensed Consolidated Statement of Financial Position](index=3&type=section&id=1.5%20简明综合财务状况表) As of June 30, 2025, the Group's total assets reached HK$260.684 billion, a 1.7% increase from the end of 2024, with customer deposits maintaining steady growth and shareholders' funds also increasing Key Data from Condensed Consolidated Statement of Financial Position (As of June 30) | Metric | 2025 (HKD Thousand) | 2024 (HKD Thousand) | | :--- | :--- | | Total Assets | 260,683,805 | 256,339,081 | | Total Liabilities | 225,543,222 | 222,515,709 | | Customer Deposits | 203,954,890 | 201,568,051 | | Shareholders' Funds | 34,829,167 | 33,511,956 | - Customer deposits increased from **HK$201.568 billion** at the end of 2024 to **HK$203.955 billion** as of June 30, 2025[7](index=7&type=chunk) - Shareholders' funds increased from **HK$33.512 billion** at the end of 2024 to **HK$34.829 billion** as of June 30, 2025[7](index=7&type=chunk) Notes to the Financial Statements [General Information and Accounting Policies](index=4&type=section&id=2.1%20一般资料及会计政策) This section outlines the Group's background, the basis of preparation for interim financial statements, and adopted accounting policies, including the assessment of new and unadopted accounting standard amendments - The accounting policies adopted for the 2025 interim condensed consolidated financial statements are consistent with those in the 2024 audited annual consolidated financial statements, with amendments to HKAS 21 adopted, but no significant impact is expected[11](index=11&type=chunk) - The Group is assessing the specific impact of HKFRS 18 'Presentation and Disclosure in Financial Statements' on the consolidated financial statements, which will be effective for annual periods beginning on or after January 1, 2027[13](index=13&type=chunk)[14](index=14&type=chunk) [Revenue and Expense Analysis](index=6&type=section&id=2.2%20收益与支出分析) This section details the Group's income and expense components, including net interest income, net fee and commission income, net trading income, other operating income, operating expenses, credit impairment losses, share of results of associates, taxation, and earnings per share Net Interest Income Components (For the six months ended June 30) | Metric | 2025 (HKD Thousand) | 2024 (HKD Thousand) | | :--- | :--- | :--- | | Interest Income | 5,318,854 | 6,205,704 | | Interest Expense | (2,542,396) | (3,667,009) | | Net Interest Income | 2,776,458 | 2,538,695 | Net Fee and Commission Income Components (For the six months ended June 30) | Metric | 2025 (HKD Thousand) | 2024 (HKD Thousand) | | :--- | :--- | :--- | | Fee and Commission Income | 829,048 | 712,467 | | Retail Investment and Wealth Management Services Income | 124,822 | 66,704 | | Net Fee and Commission Income | 726,763 | 603,386 | Net Trading Income (For the six months ended June 30) | Metric | 2025 (HKD Thousand) | 2024 (HKD Thousand) | | :--- | :--- | :--- | | Net Gains from Foreign Exchange | 242,992 | 89,746 | | Net Trading Income | 271,533 | 119,447 | Credit Impairment Losses (For the six months ended June 30) | Metric | 2025 (HKD Thousand) | 2024 (HKD Thousand) | | :--- | :--- | :--- | | New provisions (net of reversals) | 779,270 | 582,402 | | Total Credit Impairment Losses | 728,082 | 544,007 | | - Loans and advances to customers | 706,412 | 550,546 | - Share of results of associates (Chongqing Bank) was **HK$443 million**, an increase from **HK$430 million** in the prior period, with no impairment losses on investments in associates for the current period[23](index=23&type=chunk)[24](index=24&type=chunk) Earnings Per Share (For the six months ended June 30) | Metric | 2025 | 2024 | | :--- | :--- | :--- | | Basic Earnings Per Share | HK$1.12 | HK$0.99 | | Diluted Earnings Per Share | HK$1.05 | HK$0.93 | [Balance Sheet Items Analysis](index=11&type=section&id=2.3%20资产负债表项目分析) This section provides a detailed analysis of key balance sheet items, including various financial assets, loans and advances, derivative instruments, other liabilities, and the composition and changes in shareholders' funds Securities Held for Trading and Financial Assets at FVTPL (As of June 30) | Metric | 2025 (HKD Thousand) | 2024 (HKD Thousand) | | :--- | :--- | :--- | | Securities held for trading | 3,332,932 | 2,006,353 | | Financial assets at fair value through profit or loss | 4,507 | 4,272 | | Total | 3,337,439 | 2,010,625 | Fair Value of Derivative Financial Instruments (As of June 30) | Metric | 2025 Assets (HKD Thousand) | 2025 Liabilities (HKD Thousand) | 2024 Assets (HKD Thousand) | 2024 Liabilities (HKD Thousand) | | :--- | :--- | :--- | :--- | :--- | | Derivatives held for trading | 1,662,107 | (1,819,065) | 1,800,047 | (1,690,736) | | Derivatives held for hedging | 1,564,112 | (152,770) | 2,283,684 | (149,179) | | Total | 3,226,219 | (1,971,835) | 4,083,731 | (1,839,915) | Loans and Other Accounts (As of June 30) | Metric | 2025 (HKD Thousand) | 2024 (HKD Thousand) | | :--- | :--- | :--- | | Gross loans and advances to customers | 139,489,360 | 138,374,285 | | Total impairment allowances | (1,917,097) | (1,532,345) | | Net loans and other accounts | 143,600,870 | 143,048,675 | - The percentage of credit-impaired loans and advances to gross loans and advances to customers slightly improved from **3.21%** at the end of 2024 to **3.12%** as of June 30, 2025[33](index=33&type=chunk) Gross Overdue Loans and Advances (As of June 30) | Overdue Period | 2025 Gross Overdue Loans and Advances (HKD Thousand) | 2024 Gross Overdue Loans and Advances (HKD Thousand) | | :--- | :--- | :--- | | Over 3 months to 6 months | 502,932 | 2,104,322 | | Over 6 months to 1 year | 2,317,097 | 778,884 | | Over 1 year | 1,268,501 | 926,024 | | Total | 4,088,530 | 3,809,230 | Composition of Shareholders' Funds (As of June 30) | Metric | 2025 (HKD Thousand) | 2024 (HKD Thousand) | | :--- | :--- | :--- | | Share Capital | 6,894,438 | 6,894,438 | | Retained Earnings | 25,889,548 | 24,876,838 | | Total Shareholders' Funds | 34,829,167 | 33,511,956 | [Contingent Liabilities and Commitments](index=20&type=section&id=2.4%20或然负债及承擔) This section discloses the Group's capital commitments, credit commitments, pledged assets, and operating lease commitments, reflecting off-balance sheet potential risks and obligations Capital Commitments (As of June 30) | Metric | 2025 (HKD Thousand) | 2024 (HKD Thousand) | | :--- | :--- | :--- | | Contracted but not provided for | 18,394 | 20,821 | Credit Commitments (As of June 30) | Metric | 2025 Contract Amount (HKD Thousand) | 2024 Contract Amount (HKD Thousand) | | :--- | :--- | :--- | | Commitments that can be unconditionally cancelled without prior notice | 57,570,547 | 57,897,554 | | Credit risk-weighted amount | 5,863,292 | 2,155,128 | Pledged Assets (As of June 30) | Metric | 2025 (HKD Thousand) | 2024 (HKD Thousand) | | :--- | :--- | :--- | | Pledged assets held for trading and financial investments as collateral for liabilities | 3,166,990 | 1,143,336 | | Amount of liabilities secured | 3,094,712 | 1,130,231 | [Segmental Reporting](index=22&type=section&id=2.5%20营业分项报告) This section details the Group's business and regional operating performance, segmented by personal banking, corporate banking, treasury and global markets, banking business in Mainland China and Macau, and other segments, in accordance with HKFRS 8 - Personal banking business showed robust performance, with operating income increasing by **13%** year-on-year and operating profit after impairment increasing by **26%** year-on-year, primarily benefiting from strong growth in wealth management and bancassurance income[75](index=75&type=chunk) - Corporate banking business saw a decline in operating income and a **55%** year-on-year decrease in operating profit after impairment, mainly due to weak customer loan demand and increased credit impairment losses[75](index=75&type=chunk) - Operating profit after impairment for Treasury and Global Markets business increased by **66%**, driven by improved investment sentiment, increased customer demand from market volatility, and higher positive fair value changes in trading securities and derivatives[76](index=76&type=chunk) Regional Segment Operating Income and Profit Before Tax (For the six months ended June 30) | Region | 2025 Operating Income (HKD Thousand) | 2025 Profit Before Tax (HKD Thousand) | 2024 Operating Income (HKD Thousand) | 2024 Profit Before Tax (HKD Thousand) | | :--- | :--- | :--- | :--- | :--- | | Hong Kong and Others | 3,616,656 | 1,845,870 | 3,099,933 | 1,536,940 | | Macau | 180,141 | (26,812) | 188,040 | 42,981 | | Total | 3,795,596 | 1,819,057 | 3,286,757 | 1,579,921 | [Additional Analysis of Claims and Balances](index=26&type=section&id=2.6%20债权及余额之额外分析) This section provides detailed analysis of customer loans and advances by industry, balances with Mainland China businesses, customer loans and advances by region, and international claims, revealing the Group's credit portfolio structure and risk distribution Gross Loans and Advances to Customers by Industry (As of June 30) | Industry | 2025 Outstanding Balance (HKD Thousand) | 2025 Percentage Secured by Collateral (%) | 2024 Outstanding Balance (HKD Thousand) | 2024 Percentage Secured by Collateral (%) | | :--- | :--- | :--- | :--- | :--- | | Commercial and Industrial Total | 48,514,203 | 69.0 | 50,433,142 | 72.5 | | Individuals Total | 52,877,784 | 80.8 | 51,619,242 | 80.2 | | Loans for use in Hong Kong Total | 101,391,987 | 75.1 | 102,052,384 | 76.4 | | Loans for use outside Hong Kong | 33,501,148 | 57.1 | 31,419,446 | 58.5 | | Total | 139,489,360 | 70.5 | 138,374,285 | 72.0 | Balances with Mainland China Businesses (As of June 30) | Counterparty Category | 2025 On-Balance Sheet Balance (HKD Thousand) | 2025 Total Balance (HKD Thousand) | 2024 On-Balance Sheet Balance (HKD Thousand) | 2024 Total Balance (HKD Thousand) | | :--- | :--- | :--- | :--- | :--- | | Central government and related entities | 5,124,421 | 5,206,020 | 5,198,753 | 5,198,753 | | Local governments and related entities | 992,575 | 1,019,305 | 1,170,713 | 1,537,928 | | Nationals or entities residing in Mainland China | 8,417,138 | 9,394,042 | 7,657,826 | 8,217,137 | | Total Balance | 28,161,158 | 30,230,617 | 28,214,392 | 29,635,526 | | On-balance sheet balance as a percentage of total assets | 11.52% | - | 11.81% | - | Customer Loans and Advances by Geographical Area (As of June 30) | Region | 2025 Gross Customer Loans and Advances (HKD Thousand) | 2025 Impaired Customer Loans and Advances (Stage 3) (HKD Thousand) | 2024 Gross Customer Loans and Advances (HKD Thousand) | 2024 Impaired Customer Loans and Advances (Stage 3) (HKD Thousand) | | :--- | :--- | :--- | :--- | :--- | | Hong Kong | 107,664,128 | 3,949,982 | 108,718,160 | 4,018,261 | | Mainland China | 15,654,204 | 184,684 | 13,729,341 | 221,449 | | Macau | 13,251,567 | 215,338 | 13,527,103 | 197,973 | | Total | 139,489,360 | 4,350,004 | 138,374,285 | 4,437,683 | [Foreign Exchange Risk](index=32&type=section&id=2.7%20外汇风险) This section discloses the Group's net foreign exchange positions in major currencies such as USD, JPY, EUR, and RMB, reflecting its foreign exchange risk exposure - As of June 30, 2025, the Group had no structural foreign currency net positions[65](index=65&type=chunk) Net Foreign Exchange Positions by Major Currency (As of June 30) | Currency | 2025 Long/(Short) Net Position (HKD Million) | 2024 Long/(Short) Net Position (HKD Million) | | :--- | :--- | :--- | | USD | 1,605 | 2,238 | | RMB | (143) | (203) | | MOP | (898) | (631) | | Total Foreign Currencies | 187 | 1,456 | [Capital Adequacy Ratios](index=33&type=section&id=2.8%20资本充足比率) This section discloses the Group's capital adequacy ratios, indicating its robust capital position in compliance with Basel III and relevant regulatory requirements Capital Adequacy Ratios (As of June 30) | Metric | 2025 | 2024 | | :--- | :--- | :--- | | Common Equity Tier 1 | 18.2% | 16.9% | | Tier 1 | 18.9% | 17.6% | | Total | 22.5% | 21.0% | - The calculation of capital adequacy ratios has considered market risk and operational risk, complying with banking regulatory requirements in Hong Kong, Macau, and Mainland China[67](index=67&type=chunk) [Liquidity Maintenance Ratio](index=33&type=section&id=2.9%20流动性维持比率) This section discloses the Group's liquidity maintenance ratio, demonstrating its consistently sound liquidity position in compliance with minimum regulatory requirements Liquidity Maintenance Ratio (For the six months ended June 30) | Metric | 2025 | 2024 | | :--- | :--- | :--- | | Liquidity Maintenance Ratio | 60.7% | 64.7% | - The liquidity maintenance ratio is calculated in accordance with the Banking (Liquidity) Rules and complies with banking regulatory requirements in Hong Kong, Macau, and Mainland China[68](index=68&type=chunk) Financial Ratios and Dividends [Financial Ratios](index=34&type=section&id=3.1%20财务比率) This section presents the Group's key financial ratios for the six months ended June 30, 2025, including net interest income to operating income, cost-to-income ratio, return on average total assets, return on average shareholders' funds, net interest margin, and loan-to-deposit ratio Key Financial Ratios (For the six months ended June 30) | Metric | 2025 | 2024 | | :--- | :--- | :--- | | Net Interest Income / Operating Income | 73.1% | 77.2% | | Cost-to-Income Ratio | 45.0% | 48.5% | | Return on Average Total Assets (Annualized) | 1.2% | 1.1% | | Return on Average Shareholders' Funds (Annualized) | 9.2% | 8.5% | | Net Interest Margin | 2.32% | 2.09% | | Loan-to-Deposit Ratio (As of June 30) | 67.8% | 67.2% | - The cost-to-income ratio improved to **45.0%**, indicating progress in the Group's cost control efforts[69](index=69&type=chunk) - Net interest margin expanded by **23 basis points** to **2.32%**, reflecting prudent funding cost management[74](index=74&type=chunk) [Interim Dividend](index=34&type=section&id=3.2%20中期股息) The Board of Directors announced an interim dividend of HK$0.31 per share for 2025 and provided relevant dividend payment dates - The Board of Directors announced an interim dividend of **HK$0.31 per share** for 2025[70](index=70&type=chunk) - The interim dividend will be paid on September 18, 2025, to shareholders whose names appear on the register of members on September 10, 2025[70](index=70&type=chunk) Group and Business Overview [Summary](index=35&type=section&id=4.1%20概要) Despite external challenges like interest rate uncertainty, a weak property market, and geopolitical tensions, the Hong Kong economy showed resilience in H1 2025, enabling the Group to achieve solid performance through prudent credit risk management, higher net interest margin, and strong fee and trading income - Hong Kong's economy showed resilience in the first half of 2025, with real GDP growing by **3.1%** year-on-year in the second quarter[72](index=72&type=chunk) - The Group prudently managed credit risk, with the impaired loan ratio slightly improving to **3.12%** (3.21% at end-2024)[73](index=73&type=chunk) - The Group's profit attributable to shareholders increased by **13%** to approximately **HK$1.6 billion**, with **HK$443 million** contributed by Chongqing Bank[73](index=73&type=chunk) [Business and Financial Review](index=35&type=section&id=4.2%20业务及财务回顾) The Group's 2025 interim performance was robust, with growth in both net interest and non-interest income, and an improved cost-to-income ratio; however, credit impairment losses increased, mainly for Hong Kong commercial real estate exposure, with personal banking performing strongly while corporate banking faced challenges - Net interest income increased by **9%** year-on-year, primarily due to funding costs decreasing faster than asset yields[74](index=74&type=chunk) - Non-interest income grew strongly by **36%**, with net fee and commission income increasing by **20%**, and net trading income and other operating income collectively increasing by **102%**[74](index=74&type=chunk) - Operating expenses increased by **7%**, mainly due to higher IT expenditure and staff costs, but the cost-to-income ratio improved to **45.0%**[75](index=75&type=chunk) - Credit impairment losses increased by **34%** year-on-year, primarily due to prudent provisions for Hong Kong commercial real estate exposure and other corporate loans[75](index=75&type=chunk) - Annualized return on average total assets was **1.2%**, and annualized return on average shareholders' funds was **9.2%**, both higher than the prior period[76](index=76&type=chunk) [Outlook](index=36&type=section&id=4.3%20前瞻) The Group anticipates continued global market uncertainties and US interest rate policy challenges, with credit costs likely remaining high; despite Hong Kong's economic resilience, the business outlook is not expected to change significantly for the remainder of the year, as the Group remains focused on customers, risk management, and business objectives - Recent US tariffs on multiple countries and interest rate policy uncertainties exacerbate global market ambiguity[77](index=77&type=chunk) - The Hong Kong government's enhanced New Capital Investor Entry Scheme is expected to boost private banking and wealth management business development[77](index=77&type=chunk) - Credit costs are expected to remain high in 2025, and the business outlook is not anticipated to change significantly for the remainder of the year[78](index=78&type=chunk) Other Information [Compliance with Corporate Governance Code](index=37&type=section&id=5.1%20遵守企业管治守则) The Company has applied and complied with the code principles and provisions of the Corporate Governance Code, Part 2 of Appendix C1 to the Listing Rules, during the reporting period - The Company has applied and complied with the code principles and provisions of the Corporate Governance Code, Part 2 of Appendix C1 to the Listing Rules[79](index=79&type=chunk) [Directors' Securities Transactions Code](index=37&type=section&id=5.2%20董事之证券交易守则) The Company has adopted a code for directors' securities transactions no less exacting than the Model Code in Appendix C3 of the Listing Rules, and directors have confirmed compliance during the reporting period - The Company has adopted a code for directors' securities transactions no less exacting than the Model Code for Securities Transactions by Directors of Listed Issuers as set out in Appendix C3 of the Listing Rules[80](index=80&type=chunk) - Following enquiry, the directors have confirmed compliance with the Model Code and the Company's code for directors' dealings in securities for the six months ended June 30, 2025[80](index=80&type=chunk) [Unaudited Financial Statements](index=37&type=section&id=5.3%20未经审核之财务报表) The financial information in this interim results announcement is unaudited and does not constitute statutory financial statements - The financial information in this interim results announcement is unaudited and does not constitute statutory financial statements[81](index=81&type=chunk) [Review of Financial Statements](index=37&type=section&id=5.4%20审阅财务报表) The Audit Committee and management have reviewed the Group's accounting policies, practices, internal controls, and financial reporting matters, including these interim financial statements - The Audit Committee and management have reviewed the Group's accounting policies and practices, and discussed internal controls and financial reporting matters[82](index=82&type=chunk) [Purchase, Sale or Redemption of Securities](index=37&type=section&id=5.5%20购买、出售或赎回证券) Neither the Company nor any of its subsidiaries purchased, sold, or redeemed any of the Company's listed securities during the six months ended June 30, 2025 - Neither the Company nor any of its subsidiaries purchased, sold, or redeemed any of the Company's listed securities during the six months ended June 30, 2025[83](index=83&type=chunk) [Remuneration and Staff Development](index=37&type=section&id=5.6%20薪酬及员工发展) The Company's staff remuneration, remuneration policies, and training programs remained substantially unchanged from those disclosed in the 2024 Annual Report - The Company's staff remuneration, remuneration policies, and training programs remained substantially unchanged from those disclosed in the 2024 Annual Report[84](index=84&type=chunk) [Interim Results Announcement and Interim Report](index=37&type=section&id=5.7%20中期业绩通告及中期业绩报告) This announcement has been published on the HKEX and Dah Sing Bank websites, and the 2025 interim report containing information specified by the Listing Rules will be released in due course - This announcement has been published on the websites of Hong Kong Exchanges and Clearing Limited (www.hkexnews.hk) and Dah Sing Bank (www.dahsing.com)[85](index=85&type=chunk) - The Group's 2025 interim report, containing information specified by the Listing Rules, will be published on the HKEX and Dah Sing Bank websites in due course[85](index=85&type=chunk) [Board of Directors](index=37&type=section&id=5.8%20董事会) This section lists the members of the Company's Board of Directors as of the announcement date - The Board of Directors includes Executive Directors Mr. Wong Shou-yeh (Chairman), Mr. Harold Wong (Deputy Chairman, Managing Director and Chief Executive), Mr. Wang Bo-ling, and Mr. Derek Ma (Deputy Chief Executive); Independent Non-executive Directors Mr. So Chak-kwong, Mr. Stephen Tan, Mr. Peter Breese, Mr. David Wai, Ms. Chan Ha-fong, and Mr. Cheung Kin-sang[86](index=86&type=chunk)

大新銀行集團有限公司 審核委員會章程 (頁1/4) 組織 1. 董事會於二零零四年六月十一日議決成立名為審核委員會（「委員會」）之董事會委員會。 宗旨及角色 2. 委員會負責檢閱內部監控制度及內部與外聘核數師之工作、確保財務報告之客觀性及可信 性，並確保各董事向股東呈報業績時，已按法例規定履行其審慎關注及克盡所能之責任。 委員會之目標及角色範圍涵蓋本公司及其所有附屬公司，包括其銀行業務的附屬公司，如大 新銀行有限公司、大新銀行（中國）有限公司，以及澳門商業銀行股份有限公司。 成員 出席會議 會議次數 8. 每年最少舉行三次會議。倘認為需要，外聘核數師或審核委員會之任何成員可要求召開會 議，不論董事會之執行成員要否出席。 權限 - 1 - 3. 委員會應由董事會委任本公司之非執行董事出任，並應由不少於三名成員組成，其中大部分 成員應為獨立非執行董事。法定人數為兩名成員。 4. 本公司現有外聘核數師之前合夥人於下列事宜終止日期起計兩年內禁止出任委員會成員︰ (a) 作為該核數師事務所之合夥人；或(b) 於該核數師事務所擁有任何財務權益。 5. 委員會主席由董事會委任，並應為獨立非執行董事。 6. 本公司之執行董事 ...

格隆汇8月6日丨大新银行集团(02356.HK)宣布，公司将于2025年8月20日（星期三）举行董事委员会会 议，处理（其中包括）批准刊发公司截至2025年6月30日止6个月的综合业绩公告，以及审议派发中期股 息。 ...

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，並明確表示概不對因本公告全部或任何部份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。 香港，2025 年 8 月 6 日 於本公告日期，本公司董事會成員包括執行董事王守業先生（主席）、黃漢興先生（副主席、董事 總經理兼行政總裁）、王伯凌先生及麥曉德先生（副行政總裁)；獨立非執行董事蘇澤光先生、史 習陶先生、裴布雷先生、衛皓民先生、陳霞芳女士及張建生先生。 董事委員會會議日期 大新銀行集團有限公司（「本公司」）宣布，本公司將於 2025 年 8 月 20 日（星期三）舉 行董事委員會會議，處理（其中包括）批准刊發本公司截至 2025 年 6 月 30 日止 6 個月 之綜合業績公告，以及審議派發中期股息。 承董事會命 大新銀行集團有限公司 李宗榮 公司秘書 （根據公司條例於香港註冊成立之有限公司） 大新銀行有限公司之控股公司 （股份代號：2356） ...

Core Points - Guangdong JianKe disclosed the issuance of approximately 105 million shares on August 3, with a final allocation of 43.96 million shares for offline issuance, accounting for 60% of the total issuance after deducting the final strategic placement [1] - The online issuance amounted to approximately 29.3 million shares, representing 40% of the total issuance after deducting the final strategic placement [1] - The final online subscription rate was 0.0235656875%, with an effective subscription multiple of approximately 4243.46 times [1]

第 1 頁 共 10 頁 v 1.1.1 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: | 大新銀行集團有限公司 | | | 呈交日期: | 2025年8月1日 | | | I. 法定/註冊股本變動 不適用 | | | FF301 III.已發行股份及/或庫存股份變動詳情 (A). 股份期權（根據發行人的股份期權計劃） 不適用 第 3 頁 共 10 頁 v 1.1.1 FF301 | 1. 股份分類 | 普通股 | | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02356 | 說明 | | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | ...

Group 1 - The core viewpoint of the news is that the bank maintains a neutral outlook on US stocks, expecting only one rate cut by the end of the year, and has downgraded sovereign and investment-grade corporate bonds to "neutral" [1][2] - The Federal Reserve decided to keep the federal funds rate unchanged at a target range of 4.25%-4.5%, marking the first time since 1993 that two members voted against the decision [1] - The Fed's assessment of the US economy has been downgraded, indicating a slowdown in economic activity during the first half of the year, contrasting with previous statements describing steady expansion [1] Group 2 - The impact of the trade war on US inflation and overall economic activity remains unclear, and with the job market stable, the likelihood of a rate cut in September is low [2] - The bank notes that major central banks are expected to slow their rate-cutting pace, and concerns about fiscal outlook are rising, leading to a downgrade of sovereign and investment-grade corporate bonds to neutral [2] - Despite the recent rise in US stocks supported by strong performance from leading tech companies, valuations are significantly high, and the opportunity for US stocks to outperform other markets in the short to medium term is limited [2]

Core Insights - The Cross-Border Payment System has expanded to 17 banks in Hong Kong within a month of its launch, enhancing connectivity between mainland China's online payment system and Hong Kong's Fast Payment System [1][2] - The system offers advantages over traditional cross-border remittances, including instant transfers, simplified documentation, lower costs, and ease of use [1] - The initial participating banks include six from mainland China and six from Hong Kong, with an additional eleven Hong Kong banks recently added to the system [1][3] Summary by Category Participating Institutions - The first batch of participating mainland banks includes: Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, China Construction Bank, Bank of Communications, and China Merchants Bank [1][3] - The first batch of participating Hong Kong banks includes: Bank of China (Hong Kong), Bank of East Asia, China Construction Bank (Asia), Hang Seng Bank, HSBC, and ICBC (Asia) [1][3] - The second batch of newly added Hong Kong banks includes: CMB Wing Lung Bank, Shanghai Commercial Bank, CITIC Bank International, Chuangxin Bank, Dah Sing Bank, Guangfa Bank, China Everbright Bank, Nanyang Commercial Bank, ZA Bank, Airstar Bank, and MOX Bank [1][3] Digital Banking Inclusion - This expansion marks the first inclusion of digital banks in the Cross-Border Payment System, with MOX Bank, ZA Bank, and Airstar Bank being notable participants [2][3] User Experience and Limitations - Some newly added banks have not yet officially opened cross-border payment services to customers, leading to mixed experiences among users [4] - The system supports bilateral currency and RMB cross-border remittance between mainland China and Hong Kong, with specific limits on transaction amounts [4][5] Transaction Limits - For northbound transactions, the limit is set at HKD 10,000 per person per day and HKD 200,000 per year, while southbound transactions are subject to an annual foreign exchange limit of USD 50,000 [4][5]

Financial Performance - Shareholders' funds increased from HK$ 32,578 million in 2023 to HK$ 33,512 million in 2024, representing a growth of 2.86%[7] - Profit attributable to shareholders rose from HK$ 1,860 million in 2023 to HK$ 2,060 million in 2024, marking an increase of 10.75%[7] - Basic earnings per share improved from HK$ 1.32 in 2023 to HK$ 1.47 in 2024, reflecting a growth of 11.36%[7] - Total dividend distribution increased from HK$ 843 million in 2023 to HK$ 928 million in 2024, an increase of 10.06%[7] - The group's profit attributable to shareholders in 2024 increased by 11% to HK$2,060 million, driven by higher net interest and non-interest income[72] - Profit for the year increased by 10.8% to HK$2,060.3 million in 2024, up from HK$1,860.3 million in 2023[89] Asset and Liability Management - Total deposits decreased from HK$ 209,662 million in 2023 to HK$ 205,863 million in 2024, a decline of 1.43%[7] - Total assets decreased from HK$ 260,744 million in 2023 to HK$ 256,339 million in 2024, a decline of 1.54%[7] - The total liabilities, including subordinated notes, decreased from HK$ 227,855 million in 2023 to HK$ 222,516 million in 2024, a decline of 2.00%[7] - The loan to deposit ratio for 2024 is 67.2%, slightly down from 68.2% in 2023[7][8] - Advances to customers (excluding trade bills) decreased from HK$ 143,049 million in 2023 to HK$ 138,374 million in 2024, a decrease of 3.68%[7] Income and Revenue Growth - Operating income rose by 17.2% to HK$6,934.9 million in 2024, compared to HK$5,916.1 million in 2023[89] - Operating profit before credit impairment losses grew by 30.9% to HK$3,594.9 million in 2024[89] - Net interest income rose by 10%, reflecting the impact of elevated interest rates and effective funding cost management[73] - The net interest margin increased to 2.17% in 2024 from 2.01% in 2023[85] - The bancassurance business achieved robust growth, with fee and net commission income increasing by 53%[74] Credit and Impairment Management - Credit impairment provisions were increased against Mainland China property developers and the Hong Kong Commercial Real Estate sector[70] - Credit impairment charges surged by 145.0% year-on-year, attributed to higher provisions for credit losses related to exposures in the Mainland China property developer sector and Hong Kong commercial real estate sector[99] - The share of net profit from the Bank of Chongqing was HK$677 million for 2024, with an impairment loss of HK$16 million, a decrease of 97% from 2023[75] Governance and Leadership - The company has a strong board with members having extensive experience in banking, finance, and corporate governance[26][27][28][30] - The leadership team has a diverse background, contributing to the company's adaptability in the financial sector[30] - The company is committed to leveraging its board's expertise to navigate market challenges and opportunities[30] - The company continues to strengthen its governance with the appointment of experienced independent directors[39] Digital Transformation and Customer Experience - Digital transactions surged by 42% year-on-year in 2024 due to enhancements in the "Next Best Action" AI solution and the launch of a streamlined identity verification service for SMEs[122] - The bank's Private Banking business recorded strong year-on-year growth through improved personalized service models and cross-selling initiatives[121] - The bank's strategy includes gradually renovating and relocating branches to enhance customer service and digital experience, while transitioning to paperless operations[123] Market and Economic Conditions - Domestic consumption expenditure fell by 0.6% in 2024 despite a 30% rise in inbound visitors[91] - The total export of goods increased by 8.7% in 2024, recovering from a 7.8% drop in 2023[90] - The Corporate Banking business reported negative loan growth in 2024, primarily due to a decline in trade finance[133] Employee Development and Corporate Culture - The average training hours per employee increased in 2024 compared to 2023, reflecting the Group's commitment to employee development[193] - Four themed weeks focusing on staff wellness, Culture and Values, Employee Value Proposition (EVP), and customer experience were organized to enhance staff awareness[194] - The Group's employee turnover rate improved significantly in 2024 compared to 2023, indicating effective talent management strategies[197] Capital Adequacy and Liquidity - The consolidated Common Equity Tier 1 ratio of Dah Sing Bank increased to 16.9% as of December 31, 2024, up from 16.2% at the end of 2023[106] - The liquidity maintenance ratio averaged 64.2% for the year 2024, showing a marginal increase from 64.0% in 2023[186] - Stress testing on capital and liquidity positions is regularly conducted, with results reviewed periodically by management and reported to the Board-level Risk Management and Compliance Committee[189]

Core Viewpoint - Dah Sing Bank Group reported a significant increase in credit impairment losses, which raised concerns among investors despite a year-on-year increase in net profit [1][2]. Financial Performance - The company reported a net profit attributable to shareholders of HKD 2.06 billion, representing a year-on-year growth of 10.8% [1]. - Net interest income for 2024 was HKD 5.288 billion, up 9.8% year-on-year [2]. - Non-interest income, specifically net service fees and commission income, surged by 53.3% to HKD 1.328 billion [2]. - Operating profit before impairment losses increased by 31%, driven by a 50% rise in non-interest income and stable operating costs [2]. Credit Impairment Losses - Credit impairment losses skyrocketed by 145% to HKD 1.791 billion, primarily attributed to customer loans and advances [1][2]. - The bank indicated that the property-related loan market in Hong Kong and mainland China faced ongoing challenges, contributing to the increase in impairment losses [2]. - The bank's property investment loans were approximately HKD 23 billion, down 3% year-on-year, while property development loans decreased by 7% to about HKD 6.4 billion [2]. Market Conditions - The demand for loans in the market has stagnated, leading to weak loan growth [2]. - The bank's management noted that the non-performing loan ratio for local commercial real estate remains at a controllable level, but the commercial real estate market is developing slowly, with expectations of continued declines in loan amounts this year [2].