【导读】上海信托董事长崔炳文任职资格获批，此前系浦发银行副行长 10月13日，国家金融监督管理总局上海监管局批复公告称，核准崔炳文上海国际信托有限公司（以下简称上海信托）董事、董事长的任职资格。这意味着 上海信托董事长正式落定。 | 2025. 女演 | | --- | | 1 /2 0 0000 10 | | 泉剛 | 随着崔炳文获批为上海信托董事长，这也意味着时隔逾两年后，该信托正式迎来新"掌舵人"。据悉，上海信托原董事长为潘卫东，其自2008年6月起担任 该职务，并于2022年12月经上海信托董事会审议，同意其不再担任该信托董事长、战略委员会主任委员等职务。 今年7月，在上海信托召开的2025年中工作会议暨党建工作会议上，崔炳文作为浦发银行副行长出席会议。会上，他明确提出未来上海信托的三大目标， 提出上海信托要助力高质量发展、与母行融合发展，同时，进一步提升自身盈利能力和经营水平，打造独具信托特色的业务和服务，为上海国际金融中心 建设添砖加瓦。 据悉，上海信托的新任董事长崔炳文是一名银行"老将"，拥有丰富的金融行业经验，此前曾任浦发银行党委委员、副行长、总法律顾问。 公开资料显示，崔炳文，男，1969年 ...

Core Viewpoint - The recent conversion of convertible bonds by China Mobile into shares of Shanghai Pudong Development Bank (SPDB) signifies a strategic move to enhance capital strength and market confidence, while also benefiting from the bank's long-term value [1][3][4]. Group 1: China Mobile's Investment - China Mobile converted 56.31454 million SPDB convertible bonds into 450 million ordinary shares, increasing its stake from 17% to 18.18% [1][3]. - This conversion does not trigger a mandatory takeover bid and maintains the existing equity structure of SPDB [3]. - The move is seen as a win-win situation, providing China Mobile with shares at a comparable market price while aiding SPDB in bolstering its core tier one capital [3][4]. Group 2: SPDB's Financial Position - As of June 30, SPDB's core tier one capital adequacy ratio stood at 8.91%, with total assets nearing 9.65 trillion yuan [7]. - The bank reported a revenue of 90.56 billion yuan and a net profit of 29.74 billion yuan for the first half of 2025, reflecting year-on-year growth of 2.6% and 10.2% respectively [7]. - The upcoming maturity of SPDB's convertible bonds on October 28, with a redemption price of 110 yuan per bond, poses a challenge as the bank's stock price has remained below the strong redemption threshold [4][5]. Group 3: Market Reactions and Future Implications - The market is closely monitoring whether other strategic investors will follow China Mobile's lead in converting bonds to shares, which could help SPDB navigate its capital challenges [5][6]. - Previous conversions by China Cinda and Dongfang Asset Management have resulted in significant paper profits, indicating a trend among asset management companies to leverage convertible bonds for strategic equity stakes [8][9]. - The new accounting standards have allowed these asset management companies to recognize substantial gains from their investments in SPDB, further encouraging similar actions from other investors [12][17].

业绩层面来看，依托浦发银行的股东背景和资金实力，上海信托位列行业第一梯队。去年年报显示，母 公司口径下，公司实现营业收入18.52亿元，同比下降77.25%，净利润6.69亿元，同比下降86.49%。信 托业务方面，上海信托2024年末管理的信托资产规模9568.23亿元，较年初增长82.9%。从自营资产质量 来看，上海信托2024年末不良资产合计5.55亿元，不良率2.48%，较期初下降1.15个百分点。 21世纪经济报道记者 余纪昕 10月13日，国家金融监督管理总局上海监管局公布相关批复，核准崔炳文上海国际信托有限公司（下 称"上海信托"）董事、董事长的任职资格。 资料来源：国家金融监管总局官网 上海信托成立于1981年，是国内最早成立的信托公司之一，公司注册资本人民币50亿元。公司共有三家 股东，其中控股股东浦发银行持股97.3333%。 上海信托主要从事资产管理、家族及财富管理业务，为高净值客户提供专业的理财方案与服务，业务领 域主要涵盖股权债权融资、证券投资、另类投资、工商受托、公益信托、投行服务、家族传承等范围， 是目前国内信托行业业务品种齐全、产品服务体系完备的专业投资机构之一。 公开资料显示 ...

同年 7 - 8 月，菏泽市财政局、中国人民银行菏泽市中心支行、国家金融监督管理总局菏泽监管分局联 合成立了市信贷诚信管理工作专班，对银行机构和企业的信贷诚信行为开展了信贷管理评价。此次评价 涵盖企业评价和市直单位部门评价两个方面。 齐鲁晚报·齐鲁壹点 王会广 通讯员 王照海 为进一步优化全市金融信贷营商环境，有效破解金融信贷投放过程中的堵点与难点问题，切实提升信贷 双方的诚信意识和信用水平，2025 年 6 月，菏泽市人民政府印发了《菏泽市企业信贷诚信管理办法 （试行）》《菏泽市银行机构信贷诚信管理办法（试行）》（菏政办发〔2025〕4 号）。 在企业评价环节，企业通过"爱山东"APP，针对 4 种失信情形（单方面增加发放贷款条件、终止发放贷 款、提前收回贷款、其他对企业正常融资产生较大负面影响的行为）对与其有业务往来的所有银行机构 进行了诚信评价。同时，10 家市直部门结合本行业、本领域的工作情况，对银行机构作出宏观评价。 评价结果显示，浦发银行菏泽分行在股份制银行和城商行中脱颖而出，排名第 1 位。参与评价的 24 家 企业均未对该行给出负面评价。这一成绩不仅体现了浦发银行菏泽分行在信贷业务中的诚信经营 ...

Core Viewpoint - The banking sector is experiencing a strong rebound due to its defensive characteristics amid increased market volatility, with a notable rise in stock prices for various banks as of October 14 [2][3]. Group 1: Market Performance - As of October 14, Chongqing Bank saw a price increase of 6.68%, with 42 listed banks showing positive performance and the banking index rising by 2.54% [2]. - Following the National Day and Mid-Autumn Festival holidays, the banking sector has shown an upward trend, with the China Securities Banking Index increasing by 0.75% on October 13, led by Shanghai Pudong Development Bank with a 5.66% rise [3]. Group 2: Reasons for Bank Stock Increase - The current market environment has created a demand for defensive asset allocation, providing opportunities for investment in bank stocks [3]. - Positive policy signals from the government are expected to improve the asset quality outlook for banks [3][4]. - The ongoing urban renewal and the establishment of a new real estate development model are anticipated to enhance credit and asset quality for banks [4]. Group 3: Investment Opportunities - The banking sector has been in a correction phase since July 11, presenting a potential for a rebound as the market adjusts [5]. - The banking index has seen a cumulative decline of 14% since July 10, underperforming compared to the CSI 300 index, which has risen by 15% [5]. - The upcoming dividend distribution period and stable earnings expectations for banks may lead to a catch-up rally in the banking sector [5][6]. Group 4: Future Outlook - Analysts suggest that the banking sector's low valuation and high dividend yield make it attractive for risk-averse investors [6]. - The sustainability of the upward trend in bank stocks will depend on the strength of economic recovery and improvements in corporate credit demand [6].

在此之前，信达投资有限公司、中国东方资产管理股份有限公司两家金融资产管理公司（AMC）也出手增持浦发银行股 份。 此番大股东中国移动借道可转债增持浦发银行股份，正值浦发银行发行的可转债浦发转债即将到期兑付的关键时间节点。 公开信息显示，浦发转债到期日为今年10月27日。截至9月30日，尚未转股的浦发转债金额为245.72亿元，占浦发转债发行 总量的比例为49.14%。中国移动借道可转债增持浦发银行股份，将推动浦发转债转股进程，补充该行核心一级资本。 本报讯 （记者熊悦）近日，浦发银行发布公告，该行收到中国移动通信集团广东有限公司（以下简称"中国移动"）的通 知，获悉中国移动通过可转债转股形式增持该行普通股股份。 具体来看，中国移动于2025年10月13日将其持有的约5631.45万张可转债转为该行普通股约4.5亿股。截至2025年10月13 日，该行总股本约为318.29亿股，转股后，中国移动持股比例由17.00%增加至18.18%，继续位列该行第二大流通股东。 10月14日收盘，浦发银行股价为12.77元/股，涨幅为2.08%。 （编辑 郭之宸） ...

Market Overview - The Shanghai Composite Index fell by 0.62% on October 14, with 11 sectors experiencing gains, led by the banking and coal industries, which rose by 2.51% and 2.18% respectively [1] - The banking sector topped the gainers list for the day, while the communication and electronics sectors saw the largest declines, dropping by 4.98% and 4.64% respectively [1] Capital Flow Analysis - The main capital flow showed a net outflow of 93.616 billion yuan across the two markets, with 8 sectors experiencing net inflows [1] - The banking sector had the highest net inflow of capital, amounting to 1.725 billion yuan, contributing to its 2.51% increase [1] - The food and beverage sector followed with a 1.69% increase and a net inflow of 1.174 billion yuan [1] Banking Sector Performance - All 42 stocks within the banking sector rose today, with a total net inflow of 1.725 billion yuan [2] - Among the banking stocks, Industrial and Commercial Bank of China saw the highest net inflow of 719 million yuan, followed by Agricultural Bank of China and Industrial Bank with inflows of 650 million yuan and 211 million yuan respectively [2] - The stocks with the largest net outflows included China Merchants Bank, Postal Savings Bank, and Chengdu Bank, with outflows of 122 million yuan, 92.468 million yuan, and 90.520 million yuan respectively [2][3] Individual Stock Highlights - The top-performing banking stocks based on today's price change included: - Industrial and Commercial Bank of China: +3.16% with a turnover rate of 0.26% and a capital flow of 719.036 million yuan - Agricultural Bank of China: +3.18% with a turnover rate of 0.19% and a capital flow of 649.594 million yuan - Industrial Bank: +2.69% with a turnover rate of 0.79% and a capital flow of 210.962 million yuan [2] - Other notable performers included: - China Construction Bank: +2.18% with a capital flow of 161.972 million yuan - Bank of Communications: +2.08% with a capital flow of 121.728 million yuan [2]

证券之星消息，10月14日股份制银行板块较上一交易日上涨2.41%，招商银行领涨。当日上证指数报收于3865.23，下跌0.62%。深证成指报收于 12895.11，下跌2.54%。股份制银行板块个股涨跌见下表： (产品代码: 159601) | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 600036 | 指商银行 | 41.26 | 2.87% | 173.38万 | 71.03亿 | | 866100 | 中信银行 | 7.51 | 2.74% | 119.41万 | 8.87亿 | | 601166 | 兴业银行 | 20.23 | 2.69% | 167.43万 | 33.54Z | | 601818 | 光大银行 | 3.42 | 2.09% | 603.41万 | 20.54亿 | | 600000 | 浦发银行 | 12.77 | 2.08% | 146.40万 | 18.60亿 | | 601916 | 浙商银行 | 3.08 | 1.99% | 276.69万 | 8.45 ...

Core Viewpoint - The recent conversion of convertible bonds by China Mobile into shares of Shanghai Pudong Development Bank (SPDB) highlights a strategic move to enhance capital strength and share in the bank's operational success, amidst the approaching maturity date of the bonds on October 27, 2025 [2][5]. Group 1: Convertible Bond Conversion - China Mobile will convert 56,314,540 convertible bonds into 450,156,195 ordinary shares at a price of RMB 12.51 per share, increasing its shareholding from 17.00% to 18.18% [2][3]. - The conversion allows China Mobile to subscribe to SPDB's A-shares at a market-comparable price, benefiting both parties by strengthening SPDB's core tier one capital and enhancing its risk resilience [3][5]. Group 2: Market Performance - SPDB's stock price has risen over 5% since October 9, 2025, with a notable single-day increase of 5.66% on October 13, closing at RMB 12.51, which aligns with the conversion price [4][5]. Group 3: Shareholder Dynamics - The conversion by China Mobile is part of a broader trend where major shareholders, including Orient Asset and Xinda Investment, have increased their stakes in SPDB through convertible bond conversions, alleviating the pressure of bond redemption [5][12]. - As of June 30, 2025, 76.42% of SPDB's convertible bonds had not been converted, but this figure dropped to 49.14% by September 30, 2025, indicating a significant shift in shareholder engagement [8][9]. Group 4: Financial Implications - If the unconverted bonds were to be redeemed in cash, SPDB could face a payment exceeding RMB 42 billion, which would significantly impact its capital adequacy ratio, currently at 8.91% [6][11]. - The successful conversion of bonds is expected to improve SPDB's core tier one capital adequacy ratio by approximately 48 basis points to 9.39%, thereby solidifying its capital base and supporting ongoing operational improvements [11][12].

Core Viewpoint - The banking sector has shown strong performance amid increased market volatility, with defensive characteristics attracting investor interest, particularly in the context of urban renewal and new real estate development models that may improve credit and asset quality for banks [1][2][3]. Summary by Sections Market Performance - As of October 14, 2023, Chongqing Bank's stock rose by 6.68%, with 42 listed banks experiencing gains, leading to a 2.54% increase in the banking index [1]. - Following the National Day and Mid-Autumn Festival holidays, the banking sector has been on an upward trend, with the China Securities Banking Index rising by 0.75% on October 13, 2023 [2]. Reasons for Bank Stock Increase - The current market environment has created a demand for defensive asset allocation, providing opportunities for bank investments [2]. - Positive policy signals from the government are expected to enhance banks' asset quality outlook [2][3]. - The Ministry of Housing and Urban-Rural Development has outlined plans for urban development and real estate market stabilization, which may benefit banks [2]. Future Opportunities - The ongoing urban renewal and new real estate development models are anticipated to create credit and asset quality improvement opportunities for banks [3]. - The financial regulatory body is developing specific loan management guidelines for urban renewal projects, which could expand banks' participation in this area [3]. Market Dynamics - From September 29 to October 10, 2023, the CSI 300 index rose by 1.47%, while the banking sector saw a decline of 0.92%, indicating a potential for a rebound as the market adjusts [4]. - The banking sector has experienced a cumulative decline of 14% since July 10, 2023, which is significantly lower than the gains seen in the broader market indices [4]. Investment Outlook - The banking sector is characterized by low valuations and high dividend yields, making it attractive for risk-averse investors [4]. - Stable dividend payouts and improved yield prospects are likely to draw in defensive capital [4]. - Short-term upward trends may continue, but long-term performance will depend on economic recovery and credit demand [5].