重慶農村商業銀行股份有限公司 Chongqing Rural Commercial Bank Co., Ltd. （於中華人民共和國註冊成立的股份有限公司） (a joint stock limited company incorporated in the People's Republic of China with limited liability) * 本行經中國銀行保險監督管理機構批准持有B0335H250000001號金融許可證，並經重慶市市場監督 管理局核准領取統一社會信用代碼為91500000676129728J的企業法人營業執照。本行根據香港銀 行業條例（香港法例第155章）並非一家認可機構，不受香港金融管理局監管，及不獲授權在香港經營 銀行╱接受存款業務。 目錄 重要提示 2 釋義 3 | 第一章 | 公司簡介 | 第七章 | 股份變動及股東情況 | | --- | --- | --- | --- | | 第二章 | 財務摘要 | 第八章 | 中期財務資料的審閱報告 | | 第三章 | 管理層討論與分析 | | | | 一、總體經營情況分析 | | 第九章 10 | 簡要合併中期財務報表 ...

9月10日，渝农商行盘中上涨2.14%，截至13:50，报6.68元/股，成交5.44亿元，换手率0.93%，总市值 758.65亿元。 资金流向方面，主力资金净流出30.77万元，特大单买入4219.27万元，占比7.75%，卖出3642.71万元， 占比6.69%；大单买入1.22亿元，占比22.43%，卖出1.28亿元，占比23.55%。 渝农商行今年以来股价涨16.28%，近5个交易日涨1.98%，近20日跌0.74%，近60日跌6.44%。 资料显示，重庆农村商业银行股份有限公司位于重庆市江北区金沙门路36号,香港铜锣湾希慎道33号利 园1期19楼1920室，成立日期2008年6月27日，上市日期2019年10月29日，公司主营业务涉及重庆农村商 业银行主要从事提供银行服务及相关金融服务业务。该公司通过三个业务部门运营。公司银行业务部从 事向公司类客户、政府机构及金融机构提供金融产品和服务业务。个人银行业务部从事向个人客户提供 金融产品和服务业务。金融市场业务部从事货币市场交易、回购交易以及为其本身或代表客户进行债务 工具投资业务。主营业务收入构成为：零售银行业务41.93%，公司银行业务30.58 ...

Group 1 - The core viewpoint of the article indicates a positive trend in the banking sector, with significant stock price increases for various banks, including Chongqing Rural Commercial Bank, Agricultural Bank, China Construction Bank, and Bank of China [1] - Financial institutions are experiencing marginal improvements in mid-year performance, driven by the gradual implementation of consumer and business loan interest subsidy policies, which are expected to stabilize net interest margins while facilitating scale expansion [1] - The banking sector is viewed favorably for its investment value, particularly in a liquidity-rich environment where high-yield asset scarcity continues, highlighting the advantages of high dividends and stable performance of banks [1] Group 2 - Continuous encouragement from policies for long-term capital to enter the market is anticipated, with increased demand for bank sector allocations from insurance asset management, wealth management companies, and actively managed funds due to new public offering regulations [1] - The overall sentiment in the banking sector remains optimistic, with analysts from Caixin Securities and Dongxing Securities expressing confidence in the sector's configuration value and potential for performance improvement [1]

智通财经APP获悉，内银股今日普涨，截至发稿，重庆农村商业银行(03618)涨3.99%，报6.25港元；农 业银行(01288)涨3.49%，报5.63港元；建设银行(00939)涨3.23%，报8港元；中国银行(03988)涨2.52%， 报4.48港元。 消息面上，财信证券认为，银行业中报业绩边际改善。消费贷、经营贷贴息政策逐步落地，财政加金融 模式有望稳定行业净息差的同时带来规模扩张，基本面积极因素累积。东兴证券指出，继续看好银行板 块配置价值。中长期来看，在流动性充裕环境下，高收益资产荒延续，银行高股息、业绩稳定优势凸 显，配置价值突出。从资金面来看，政策持续鼓励中长线资金入市，预计保险资管、理财公司以及在公 募新规推动下主动管理型基金均对银行板块有加大配置需求，有利板块表现。 ...

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。 Chongqing Rural Commercial Bank Co., Ltd. * * : 3618 承董事會命 重慶農村商業銀行股份有限公司* Chongqing Rural Commercial Bank Co., Ltd.* 執行董事兼行長 隋軍 中國 • 重慶，2025年9月8日 於本公告日期，本行執行董事為隋軍先生；本行非執行董事為胡淳女士、殷祥林先生及 彭玉龍先生；及本行獨立非執行董事為張橋雲先生、李明豪先生、李嘉明先生及畢茜女 士。 * 本行經中國銀行業監督管理機構批准持有B0335H250000001號金融許可證，並經重慶市市 場監督管理局核准領取統一社會信用代碼為91500000676129728J的企業法人營業執照。 本行根據香港銀行業條例（香港法例第155章）並非一家認可機構，不受香港金融管理局監 管，及不獲授權在香港經營銀行╱接受存款業務。 证券代码：601077 证券简称： ...

重庆农村商业银行股份有限公司 第五届董事会第六十一次会议决议公告 证券代码：601077 证券简称：渝农商行 公告编号：2025-035 本行董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重庆农村商业银行股份有限公司（以下简称"本行"）第五届董事会第六十 一次会议以书面传签、通讯表决方式召开，表决截止日为 2025 年 9 月 8 日。本 行已于 2025 年 9 月 4 日以电子邮件形式发出会议通知和材料。本行在任董事 8 名，本次会议应参与表决董事 7 名，实际参与表决董事 7 名。本行股东上海豫园 旅游商城（集团）股份有限公司质押本行股权比例超过 50%，根据监管规定对其 提名的彭玉龙董事在董事会上的表决权进行了限制。会议的召开符合法律、法规、 规章和《重庆农村商业银行股份有限公司章程》的有关规定。 本次会议审议通过了以下议案： 附件 谭彬先生简历 谭彬，男，汉族，1975 年 2 月生，中共党员，本科学历，学士学位，高级 经济师，现任重庆农村商业银行股份有限公司党委委员、副行长。曾任重庆农村 商业银行股份有限公司万州支行党 ...

Investment Rating - The report maintains a "Recommended" investment rating for the banking sector, expecting the sector index to outperform the benchmark index by over 5% in the next 3-6 months [4][24]. Core Insights - The overall asset quality of commercial banks has improved in the first half of 2025, with a slight decrease in the non-performing loan (NPL) ratio to 1.49% [7][8]. - Retail loan asset quality remains under pressure, particularly in specific areas such as credit cards and personal business loans, due to ongoing economic recovery challenges [8]. - The report emphasizes the importance of long-term capital inflows and public fund reforms, suggesting that banks with high dividend yields and solid asset quality present good investment opportunities [8][9]. Summary by Sections Corporate Sector - The corporate lending sector shows improved asset quality, driven by government policies aimed at stabilizing growth, with a focus on high-tech manufacturing and key policy-supported areas [3]. - The NPL ratio in the corporate real estate sector has increased by 10 basis points to 3.59%, but the peak risk exposure phase is considered to have passed [3][8]. Retail Sector - Retail loan quality is closely linked to employment, income expectations, and consumer confidence, with the NPL ratio for mortgages, credit cards, and consumer loans showing increases of 10bp, 9bp, and 6bp respectively [8]. - The report highlights that the recovery of household balance sheets may take longer, impacting the retail loan sector's performance [8]. Investment Recommendations - The report suggests a diversified investment strategy focusing on state-owned banks and robust regional banks with high provisioning coverage, such as China Merchants Bank and CITIC Bank [8][9]. - It also recommends attention to undervalued joint-stock banks with potential for return on equity (ROE) improvement, specifically mentioning浦发银行 (Shanghai Pudong Development Bank) [8]. Performance Metrics - The banking sector's absolute performance over the past month is reported at 5.0%, with a 17.3% increase over six months and 17.7% over twelve months [5]. - The report provides earnings per share (EPS) and price-to-earnings (PE) ratios for key banks, indicating a positive outlook for banks like 宁波银行 (Ningbo Bank) and 招商银行 (China Merchants Bank) [10].

Core Viewpoint - The A-share market experienced a widespread decline in bank stocks, with several banks falling over 2% and others declining by more than 1% [1] Group 1: Stock Performance - Yunnan Rural Commercial Bank (渝农商行) saw a decline of 2.29%, with a total market capitalization of 72.7 billion [2] - Shanghai Rural Commercial Bank (沪农商行) decreased by 2.01%, with a market cap of 84.5 billion [2] - Jiangyin Bank (江阴银行) fell by 1.83%, with a market value of 11.9 billion [2] - Bank of China (中国银行) dropped by 1.80%, with a market capitalization of 1,756.1 billion [2] - China Everbright Bank (光大银行) decreased by 1.60%, with a market cap of 217.4 billion [2] - Shanghai Bank (上海银行) declined by 1.57%, with a market value of 133.4 billion [2] - CITIC Bank (中信银行) fell by 1.53%, with a market capitalization of 430.1 billion [2] - Pudong Development Bank (浦发银行) decreased by 1.52%, with a market cap of 413.8 billion [2] - Zhangjiagang Bank (张家港行) saw a decline of 1.12%, with a market value of 10.8 billion [2] - Huaxia Bank (华夏银行) fell by 1.34%, with a market capitalization of 117.1 billion [2] - Minsheng Bank (民生银行) decreased by 1.11%, with a market cap of 195.3 billion [2] - China Construction Bank (建设银行) dropped by 1.10%, with a market capitalization of 23,623 billion [2] - Chengdu Bank (成都银行) saw a decline of 1.09%, with a market value of 76.6 billion [2] - Qilu Bank (齐鲁银行) decreased by 1.05%, with a market cap of 34.6 billion [2] - Ningbo Bank (宁波银行) fell by 1.03%, with a market capitalization of 184.3 billion [2] - China Merchants Bank (招商银行) decreased by 1.03%, with a market cap of 1,070.8 billion [2] - Zijin Bank (紫金银行) saw a decline of 1.02%, with a market value of 10.6 billion [2]

Investment Rating - The report indicates a positive outlook for the banking industry, with overall revenue and net profit growth rates turning positive in the first half of 2025, at 1.0% and 0.8% respectively, showing improvements from the previous quarter [4]. Core Insights - The banking sector's net interest margin for the first half of 2025 is reported at 1.42%, a decrease of 10 basis points compared to the previous year, but the decline is narrowing due to improved cost management on the liability side [5]. - Non-interest income, particularly from fees and commissions, has increased by 3.1% year-on-year, driven by a recovery in wealth management and a more active market environment [5]. - The asset quality remains stable, with a non-performing loan ratio of 1.23% and a provision coverage ratio of 239%, indicating a solid credit environment [5]. Summary by Sections Financial Performance Overview - The overall revenue and net profit growth for listed banks in the first half of 2025 were 1.0% and 0.8%, respectively, with both metrics showing improvement from the first quarter [4][22]. - The total assets of listed banks reached 321.3 trillion yuan, growing by 6.35% year-to-date, with loans and advances totaling 179.4 trillion yuan, accounting for 55.84% of total assets [21][24]. Income Sources - Net interest income decreased by 1.3% year-on-year, but the decline rate has slowed, reflecting better management of funding costs [5]. - Fee and commission income grew by 3.1% year-on-year, benefiting from a recovering market and the gradual impact of regulatory changes [5]. - Other non-interest income saw a significant increase of 10.7%, primarily due to favorable market conditions in the bond market [5]. Asset Quality and Management - The non-performing loan ratio remained stable at 1.23%, with a provision coverage ratio of 239%, indicating a robust asset quality [5]. - The credit cost for the first half of 2025 was 0.81%, a decrease of 5 basis points year-on-year, suggesting manageable credit risks [5]. Loan Growth and Composition - Loan growth was primarily driven by corporate lending, with significant contributions from infrastructure and manufacturing sectors [20]. - Personal loan growth was weaker, with a year-on-year increase of only 3.6%, reflecting a cautious approach to consumer lending amid rising risks [20]. Investment and Market Conditions - The investment asset proportion decreased to 34% as banks adjusted their strategies in response to market volatility [20]. - The overall yield on bonds fluctuated significantly, prompting banks to engage in tactical trading to enhance returns [20].

Group 1 - The A-share market experienced a widespread decline in bank stocks, with notable drops in Chongqing Rural Commercial Bank and Shanghai Rural Commercial Bank, both falling over 2% [1] - Other banks such as Jiangyin Bank, Bank of China, Everbright Bank, Shanghai Bank, CITIC Bank, Pudong Development Bank, Zhangjiagang Bank, Huaxia Bank, Minsheng Bank, China Construction Bank, and China Merchants Bank also saw declines of around 1% [1] Group 2 - Specific stock performance data shows Chongqing Rural Commercial Bank down by 2.29% with a market cap of 72.7 billion, and Shanghai Rural Commercial Bank down by 2.01% with a market cap of 84.5 billion [2] - Jiangyin Bank decreased by 1.83% with a market cap of 11.9 billion, while Bank of China fell by 1.80% with a market cap of 1,756.1 billion [2] - Other banks like Everbright Bank, Shanghai Bank, and CITIC Bank also reported declines, with respective market caps of 217.4 billion, 133.4 billion, and 430.1 billion [2]