公告编号：临2025-005 证券代码：600000 证券简称：浦发银行 转债代码：110059 转债简称：浦发转债 优先股代码：360003 360008 优先股简称：浦发优1 浦发优2 上海浦东发展银行股份有限公司 关联交易公告 本公司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。 重要内容提示： ● 交易简要内容：上海浦东发展银行股份有限公司（以下简称"公司"） 拟为浦银金融租赁股份有限公司（简称"浦银金租"）、浦银国际控股有限公司 （简称"浦银国际"）分别核定人民币 265 亿元、港币 135.01 亿元的综合授信 额度。 ● 浦银金租、浦银国际为公司关联法人，上述交易构成关联交易。 ● 上述交易不构成重大资产重组。 ● 上述关联交易已经董事会风险管理与关联交易控制委员会（消费者权益 保护委员会）及独立董事专门会议审议通过，并由公司董事会批准，无需提交股 东会审议。 ● 上述关联交易是公司的正常授信业务，对公司持续经营能力、损益及资 产状况不构成重要影响。 给予浦银国际综合授信额度港币 135.01 亿元（约合人民币 127 ...

本公司监事会及全体监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。 上海浦东发展银行股份有限公司（以下简称"公司"）监事会 2025 年第一 次会议于 2025 年 2 月 21 日以书面传签方式召开，会议通知及会议文件于 2025 年 2 月 14 日以电子邮件方式发出。会议应参加表决监事 8 名，实际参加表决监 事 8 名。本次会议符合《公司法》和《公司章程》关于召开监事会法定人数的规 定，表决所形成决议合法、有效。 会议审议并经表决通过了： 1.《公司关于优先股二期股息发放的议案》 公告编号：临2025-004 证券代码：600000 证券简称：浦发银行 转债代码：110059 转债简称：浦发转债 优先股代码：360003 360008 优先股简称：浦发优1 浦发优2 上海浦东发展银行股份有限公司 监事会 2025 年第一次会议决议公告 同意：8 票 弃权：0 票 反对：0 票 5.《公司关于与浦银金融租赁股份有限公司关联交易的议案》 同意：8 票 弃权：0 票 反对：0 票 6.《公司关于与浦银国际控股有限公司关联交易的议案》 同意：8 ...

公告编号：临2025-003 证券代码：600000 证券简称：浦发银行 转债代码：110059 转债简称：浦发转债 优先股代码：360003 360008 优先股简称：浦发优1 浦发优2 上海浦东发展银行股份有限公司 董事会 2025 年第一次会议决议公告 特此公告。 上海浦东发展银行股份有限公司董事会 2025 年 2 月 21 日 2 上海浦东发展银行股份有限公司（以下简称"公司"）董事会2025年第一次 会议于2025年2月21日以书面传签方式召开，会议通知及会议文件于2025年2月14 日以电子邮件方式发出。应参加会议董事11名，实际参加会议董事11名，符合《公 司法》及《公司章程》关于召开董事会法定人数的规定，表决所形成的决议合法、 有效。公司监事、高级管理人员通过审阅会议资料方式列席本次会议。 1 会议审议并经表决通过了： 1.《公司关于优先股二期股息发放的议案》 同意：11票 弃权：0票 反对：0票 2.《公司关于推进村镇银行改革发展的议案》 同意：11票 弃权：0票 反对：0票 3.《公司关于内部审计工作2024年总结和2025年计划的议案》 同意：11票 弃权：0票 反对：0票 4.《公司 ...

Investment Rating - Maintain "Buy" rating [6] Core Views - SPD Bank's 2024 performance shows high profit growth with a 23.3% YoY increase in net profit attributable to the parent company and a 30.47% YoY increase in non-GAAP net profit [2] - The bank's asset quality has improved quarter by quarter, with a non-performing loan ratio of 1.36% at the end of 2024, down 2bp from Q3, and a provision coverage ratio of 187%, up 3.1pct from Q3 [3] - Asset scale expanded steadily, with a 5.1% YoY increase in total assets at the end of 2024, and a 9.01% YoY increase in loans by the end of Q3 2024 [4] - Major shareholder Shanghai International Group plans to increase its stake, demonstrating confidence in the bank's long-term development [5] Financial Performance - 2024 revenue growth was -1.55%, but adjusted for one-time factors, it increased by 0.92% YoY [2] - Q4 2024 revenue growth turned positive, increasing by 0.71% compared to Q3 [2] - Weighted average ROE for 2024 was 6.28%, up 1.07pct YoY [2] - Forecasted revenue growth for 2024-2026 is -1.5%, 4.6%, and 5.5% respectively, with net profit growth of 23.3%, 8.3%, and 10.0% [6] Asset Quality and Risk Management - Non-performing loan ratio decreased to 1.36% at the end of 2024, down 2bp from Q3 [3] - Provision coverage ratio increased to 187% at the end of 2024, up 3.1pct from Q3 [3] - Credit cost improvement is expected to continue releasing profit elasticity [3] Strategic Initiatives and Market Position - SPD Bank has leveraged its traditional corporate business strengths and focused on "five major sectors" [4] - The bank's new leadership has been driving the expansion of the balance sheet since Q4 2023 [4] - The bank's loan growth in Q3 2024 was 9.01%, with new loans in the first three quarters reaching approximately 347.4 billion yuan, an increase of 326.5 billion yuan YoY [4] Shareholder Confidence - Shanghai International Group, the largest shareholder, plans to increase its stake in SPD Bank A-shares, signaling strong support for the bank's future [5] Industry Outlook - The current valuation, positioning, and performance of joint-stock banks are at a low point, with risks being gradually cleared and mitigated [6] - Positive factors such as potential economic, real estate, and consumption recovery are expected to provide opportunities for joint-stock banks in the coming year [6]

Investment Rating - Maintains a "Buy" rating with a target price of 13.26 CNY per share, implying a 30% upside from the current price [5] Core Views - SPD Bank's net profit attributable to shareholders grew by 23.3% YoY in 2024, continuing the high growth trend from the previous quarters [1][2] - Revenue declined by 1.5% YoY in 2024, but improved by 0.7 percentage points compared to the first three quarters, driven by improved liability costs and stabilized interest margins [2] - Non-performing loan (NPL) ratio improved to 1.36% at the end of 2024, down by 2 basis points from the end of Q3, indicating better asset quality [1][4] - Provision coverage ratio increased to 187% at the end of 2024, up by 7 percentage points from the end of Q3, reflecting strengthened risk resilience [1][4] Financial Performance - Total assets grew by 5% YoY at the end of 2024, with a 0.5% increase from the end of Q3, showing steady expansion [3] - Net interest income is expected to grow by 4.02% in 2025, while net fee income is projected to remain flat [11] - ROAE (Return on Average Equity) is forecasted to increase from 6.34% in 2024 to 6.56% in 2026, indicating improved profitability [11] Valuation and Forecast - Expected net profit attributable to shareholders to grow by 5.69% in 2025 and 6.32% in 2026 [5] - Book value per share (BPS) is projected to increase from 22.36 CNY in 2024 to 24.28 CNY in 2026 [5] - Current price-to-book (P/B) ratio is 0.46x for 2024, with a target P/B of 0.59x, suggesting significant undervaluation [5] Asset Quality and Capital Adequacy - NPL ratio is expected to further decline to 1.30% by 2026, with a provision coverage ratio maintained at around 186% [11] - Capital adequacy ratio is projected to remain strong, with a core Tier 1 capital ratio of 11.49% in 2024 and 11.17% in 2026 [11]

Summary of Conference Call Company and Industry - **Company**: 普发银行 (Pufa Bank) - **Industry**: Banking and Financial Services Key Points and Arguments 1. **Performance Overview**: Pufa Bank has shown strong performance in both operational results and capital market performance over the past year, with a positive outlook for 2024 and beyond [1][2][3]. 2. **Loan and Deposit Growth**: The bank reported a good start to the year with loan disbursements and deposits exceeding last year's levels, indicating a proactive approach to asset growth [3][4]. 3. **Strategic Focus**: The bank will continue to focus on five key areas: technology finance, supply chain finance, inclusive finance, and cross-border finance, aiming for significant breakthroughs in these sectors [4][19]. 4. **Asset Allocation Plans**: For 2024, the bank plans to maintain a loan allocation similar to last year, with expectations of a stable growth rate in loan disbursements [3][4]. 5. **Performance Expectations for 2024**: The bank anticipates a stable performance in 2024, with improvements in income and cost management, despite potential pressures from high base effects in the previous year [5][6][33]. 6. **Risk Management**: The bank is focused on improving asset quality, with a continuous decline in non-performing loans (NPLs) expected through 2024, supported by effective risk management strategies [11][14][16]. 7. **Deposit Strategy**: Pufa Bank aims to enhance its deposit base by increasing the proportion of general deposits while maintaining a low-cost funding strategy [19][20][27]. 8. **Interest Rate Environment**: The bank is preparing for a favorable interest rate environment, with expectations of a narrowing interest margin decline due to proactive loan management and deposit strategies [18][21]. 9. **Capital Management**: The bank is committed to maximizing shareholder returns through dividends, with plans to increase the dividend payout ratio as long as capital conditions allow [30][32]. 10. **Future Outlook for 2025**: The bank is optimistic about 2025, expecting a better operating environment compared to 2024, with a focus on maintaining high growth targets and improving overall performance metrics [36][37]. Other Important but Possibly Overlooked Content 1. **Market Positioning**: Pufa Bank's market positioning is strong, with a focus on maintaining a competitive edge against peers through strategic asset management and customer engagement [10][19]. 2. **Regulatory Compliance**: The bank is actively working to comply with new regulations regarding capital and risk management, ensuring a robust operational framework [12][28]. 3. **Technological Integration**: There is an emphasis on leveraging technology to enhance operational efficiency and customer service, which is seen as a critical component of future growth [4][19]. 4. **Sector-Specific Risks**: The bank acknowledges potential risks in the real estate sector but remains committed to supporting sustainable development within this industry [10][39]. 5. **Engagement with Stakeholders**: The bank is focused on maintaining open communication with stakeholders, including shareholders and regulatory bodies, to ensure alignment on strategic goals [30][32].

Financial Performance - In 2024, the company achieved operating revenue of RMB 170.748 billion, a decrease of 1.55% compared to RMB 173.434 billion in 2023[2] - The net profit attributable to shareholders increased by 23.31% to RMB 45.257 billion, up from RMB 36.702 billion in the previous year[2] - The basic earnings per share rose to RMB 1.36, representing a growth of 27.10% from RMB 1.07 in 2023[2] - The company reported a net profit excluding non-recurring items of RMB 44.207 billion, an increase of 30.47% from RMB 33.882 billion in the previous year[2] Asset and Liability Management - The company's total assets reached RMB 9,461.88 billion, reflecting a growth of 5.05% from RMB 9,007.247 billion at the end of 2023[2] - The total liabilities increased by 5.35% to RMB 8,717.099 billion, up from RMB 8,289.739 billion at the end of 2023[6] Risk Management and Asset Quality - The non-performing loan ratio improved to 1.36%, down by 0.12 percentage points from 1.48% at the end of 2023[2] - The provision coverage ratio increased to 186.96%, up by 13.45 percentage points from 173.51% at the end of 2023[2] - The company emphasized risk control and asset quality improvement, with significant progress in the disposal of non-performing assets[6] Strategic Focus - The company focused on five major financial sectors, enhancing service effectiveness and achieving stable growth in operating efficiency[5]

Group 1 - The core issue involves Shanghai Pudong Development Bank's Dongying branch being penalized for illegal loan issuance [1] - The regulatory authority, the National Financial Supervision Administration, imposed a fine of 400,000 yuan on the bank [1] - Two bank officials, Dong Zhengbiao and Li Jiancheng, received warnings for their involvement in the illegal loan issuance [1]

Core Viewpoint - The Shanghai Pudong Development Bank's Zibo branch was fined for failing to effectively verify the use of loans, highlighting regulatory scrutiny in the banking sector [1] Group 1: Regulatory Actions - The Zibo Regulatory Bureau of the National Financial Supervision Administration issued administrative penalties against the Shanghai Pudong Development Bank's Zibo branch [1] - The bank was fined 220,000 yuan for not properly checking the loan purposes [1] - A retail customer manager at the bank, Geng Peng, received a warning for his role in the oversight [1]

公告编号：临2025-001 证券代码：600000 证券简称：浦发银行 转债代码：110059 转债简称：浦发转债 优先股代码：360003 360008 优先股简称：浦发优1 浦发优2 上海浦东发展银行股份有限公司 关于可转债转股结果暨股份变动公告 本公司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。 重要内容提示： 一、浦发转债的发行上市概况 经中国证券监督管理委员会《关于核准上海浦东发展银行股份有限公司公开 发行可转换公司债券的批复》（证监许可[2019]1857 号）核准，上海浦东发展银 行股份有限公司（以下简称"公司"）公开发行了 50,000 万张可转换公司债券（以 下简称"可转债""浦发转债"），每张面值人民币 100 元，发行总额人民币 500 亿元，期限 6 年。 二、浦发转债本次转股情况 截至 2024 年 12 月 31 日，累计已有人民币 1,431,000 元浦发转债转为公司 普通股，累计转股股数为 97,905 股，占浦发转债转股前公司已发行普通股股份 总额的 0.0003%。其中，自 2024 年 1 ...