长沙晚报掌上长沙9月21日讯（通讯员 何琪乐）9月15日至21日，浦发银行长沙分行多渠道、多形式、多角度开展 2025年"金融教育宣传周"活动，助力构建和谐健康的金融环境，为消费者的合法权益保驾护航。 科技赋能创新，特色活动精彩纷呈 该行坚持科技赋能金融教育，积极开展一系列特色活动。"行长讲消保"以权威视角解读金融政策，为消费者答疑 解惑；"青春'财'能'浦'公英"走进校园，在年轻学子心中播撒金融知识的种子；"烟火气里唠金融"将金融知识融入 日常生活场景，让宣传更接地气。通过这些长效宣传活动，浦发银行长沙分行将金融知识巧妙融入人民衣食住行 的多场景中，有效提高了活动的吸引力和影响力。 线上线下联动，宣传全面触达 本次金融教育宣传周采用"线上+ 线下"相结合的创新模式，全方位营造宣传氛围。在线上，该行充分利用微信公 众号、官方网站、新闻媒体、微信朋友圈等多元化渠道，全面开展金融知识宣传。通过发布图文并茂的推文、生 动有趣的视频等内容，向广大金融消费者普及金融知识和风险防范技能，实现信息的广泛传播和精准触达。 线下宣传同样有声有色。各营业网点充分发挥厅堂阵地作用，通过电子屏滚动播放宣传标语和视频、举办厅堂微 沙龙 ...

| 序号 | 当事人名称 | 主要违法违 | 行政处罚内容 | 作出决定 | | --- | --- | --- | --- | --- | | | | 规行为 | | 机关 | | 1 | 上海浦东发展银 行股份有限公司 | 贷后管理不尽 证金开立银行 | 对该支行罚款35万 元,对时任该支行行 长 (代为履职) 、行 | 青岛金融监 | | | | 职,贷款转存保 | | | | | 青岛市南支行及 | | 长王勇给予警告,对 | 管局 | | | 相关责任人 | 承兑汇票或发 | 时任该支行行长于涛 | | | | | 放贷款 | | | | | | | 给予警告 | | | 2 | 上海浦东发展银 行股份有限公司 青岛自贸区支行 | 贷后管理不尽 | | 青岛金融监 管局 | | | | 职,贴现资金 | 对该支行罚款30万 | | | | | #之雕形態园 | 元,对时任该支行行 | | | | | 质押开立银行 | 长朱磊给予警告 | | | | 及相关责任人 | 承兑汇票 | | | 上海浦东发展银行股份有限公司青岛市南支行及相关责任人贷后管理不尽职，贷款转存保证金开立 银行承兑汇票或发放贷款。 ...

新华财经北京9月22日电 （王菁）日前，在2025中债担保品国际论坛上，中央结算公司作为发起机构， 联合境内外金融基础设施、行业协会、商业银行等16家金融机构，共同发布了《人民币债券担保品跨境 应用倡议》（以下简称《倡议》），引发多方关注与热烈讨论。 近年来，中国金融高水平开放持续深化。伴随国际市场优质担保资产供给日趋紧张，以中国国债为代表 的优质人民币债券，凭借其发展潜力大、避险属性强、市场深度好等优势，正逐渐成为全球合格担保品 的重要选择。在中国人民银行等管理部门的指导下，中央结算公司携手16家合作伙伴共同推出该《倡 议》，提出"互惠互利、互信互认、互联互通、互学互鉴"四项原则，呼吁各方共同推动人民币债券跨境 使用，助力全球金融体系发展。 中国银行指出，《倡议》为人民币债券"走出去"指明了方向。作为全球布局的大型国有银行，中国银行 将依托广泛的跨境服务网络，在回购、衍生品保证金等领域探索人民币债券担保品的使用，推动其成为 国际市场上广泛接受的合格担保品。 与此同时，作为担保品管理业务的重要参与机构，汇丰银行、浦发银行和东方汇理银行也充分肯定了 《倡议》的实践价值。 汇丰银行认为，《倡议》的发布体现了中央结 ...

Core Insights - The article emphasizes the importance of selecting bank wealth management products amidst a plethora of similar-sounding offerings, urging investors to discern and choose wisely [1] - The South Finance Wealth Management team compiles a weekly performance ranking of wealth management products available through various distribution channels, focusing on those with outstanding performance [1][6] - The ranking criteria include product type, specifically targeting pure fixed income, "fixed income plus," and mixed products, as well as performance stability over a minimum of three months [1] Group 1: Product Performance - The ranking showcases annualized performance over the past month, three months, and six months, sorted by the three-month annualized return to reflect multidimensional performance during recent market fluctuations [1] - The current focus is on pure fixed income products issued by wealth management companies, providing investors with a curated selection of available products [1] Group 2: Distribution Institutions - A total of 28 distribution institutions are involved, including major banks such as Industrial and Commercial Bank of China, Bank of China, Agricultural Bank of China, and others [2] - The assessment of the "on sale" status of wealth management products is based on their investment cycle projections, although actual availability may vary due to factors like sold-out quotas or differing product lists for various clients [2] Group 3: Performance Data - The article includes specific performance data for various wealth management products, detailing their annualized returns over different periods, such as the "Stable Wealth High-Grade Pure Bond 18" from Bank of China, which has a three-month annualized return of 7.67% [5] - Other notable products include "Stable Enjoy Flexible Wisdom Day Open 20" from China Merchants Bank with a three-month return of 7.47% and "Stable Wealth High-Grade Pure Bond 36" also from Bank of China with a return of 7.27% [5][7]

Core Viewpoint - The article emphasizes the importance of distinguishing between various bank wealth management products with similar names and characteristics, providing a weekly performance ranking of these products to assist investors in making informed choices [1][2]. Group 1: Product Performance Rankings - The article presents a ranking of wealth management products based on their annualized returns for different holding periods: 7 days, 14 days, 30 days, and 60 days [1]. - For the 7-day holding period, the top-performing product is from Minsheng Bank with an annualized return of 9.75% [4]. - The 14-day holding period rankings show Minsheng Bank's product achieving an annualized return of 8.34% [6]. - In the 30-day holding period, Hangzhou Bank leads with a return of 24.26% [11]. - For the 60-day holding period, China Bank's product tops the list with a return of 26.21% [15]. Group 2: Investment Institutions - The ranking includes products from 28 distribution institutions, such as Industrial and Commercial Bank of China, Bank of China, Agricultural Bank of China, and others [1]. - The performance data is sourced from the Nanfang Financial Terminal, ensuring a comprehensive overview of available products [4][11][15]. Group 3: Methodology and Data Collection - The performance metrics are calculated based on the annualized yield over the respective holding periods, with the same institution and product series retained for comparison [1]. - The article advises investors to refer to the actual product listings on the banks' apps, as availability may vary due to factors like quota exhaustion [1].

Group 1: Key Recommendations - The report highlights Jiangbolong (301308) as a leading player in the full matrix storage industry, driven by "main control expansion + enterprise-level breakthroughs" [3] - The recommendation logic emphasizes the company's continuous breakthroughs and growth in the enterprise storage segment, with expected revenue growth rates of 41.09%, 26.39%, and 23.65% from 2025 to 2027 [3] - The report also identifies Stik (300806) as a leader in functional coating composite materials, with a growth inflection point approaching, supported by a significant increase in electronic-grade adhesive material demand [4] Group 2: Financial Projections - Jiangbolong's projected revenues for 2025-2027 are 24,639.91 million, 31,141.96 million, and 38,506.08 million yuan, with net profits expected to reach 843.17 million, 1,491.97 million, and 2,166.77 million yuan respectively [3] - Stik's projected revenues for the same period are 3,405.54 million, 4,540.38 million, and 5,834.50 million yuan, with net profits forecasted at 102.45 million, 287.35 million, and 464.63 million yuan [4] Group 3: Market Insights - The banking sector report indicates that the recent decline in bank stocks, down 7.3% from July 1 to September 19, 2025, is primarily due to increased risk appetite and liquidity withdrawal [5] - The report suggests that as risk-free interest rates decline and risk appetite stabilizes, the pressure on bank stock outflows is expected to ease, potentially opening up absolute return opportunities [5] Group 4: Catalysts and Drivers - For Jiangbolong, the key catalyst is the increase in storage prices, which is expected to drive revenue growth [3] - For Stik, the demand surge for OCA (Optically Clear Adhesive) in end products is identified as a significant growth driver [4] - In the banking sector, the anticipated decline in risk-free interest rates and stabilization of risk appetite are seen as crucial factors for recovery [5]

Investment Rating - The report maintains a "Positive" investment rating for the banking sector [11] Core Insights - Recent adjustments in bank stocks have led to accelerated share buybacks by state-owned shareholders and management, indicating strong recognition of investment value [2][6] - The systematic increase in holdings by state-owned shareholders reflects a demand to optimize financial equity layouts amid asset scarcity, highlighting the core advantages of low valuations, stable profits, and dividends in bank stocks [7][41] - The report emphasizes the long-term investment value of regional leading city commercial banks, particularly after two rounds of debt restructuring [7][41] Summary by Sections Shareholder Activity - In the past week, banks such as Qingdao Bank, Nanjing Bank, and Chengdu Bank have disclosed progress in share buybacks by state-owned shareholders, showcasing their confidence in investment value [2][6] - Nanjing Bank has seen its state-owned shareholder, Nanjing High-tech, increase its stake by 1.05%, bringing its total holding to 9.99% [6][41] - Other banks, including Suzhou Bank and Qingdao Bank, have also reported significant buyback plans, with Suzhou Bank's shareholders increasing their holdings by 856 million yuan earlier this year [6][41] Market Performance - The banking index has experienced a cumulative decline of 4.1% this week, underperforming the CSI 300 index by 3.6% and the ChiNext index by 6.4% [9][20] - Despite the recent downturn, the long-term investment logic remains solid, with individual stocks like Qilu Bank showing resilience due to management buybacks [9][20] Dividend and Earnings Outlook - The report notes that the expected dividend yield for leading city commercial banks has risen to around 5%, with specific banks like Jiangsu Bank and Chengdu Bank reaching yields of 5.5% [7][8] - The stability of the banking sector's fundamentals is highlighted, with expectations for net interest income to maintain stable growth despite market fluctuations [8][40] - Mid-term dividends are set to commence, with several banks planning to distribute dividends in the fourth quarter, creating an attractive entry point for absolute return funds [8][40] Valuation and Investment Opportunities - The report suggests that the recent valuation adjustments have created significant investment opportunities in bank stocks, particularly for those focusing on dividend yields [7][44] - The ongoing adjustments in the bond market and the anticipated stabilization of loan interest rates are expected to support the banks' revenue streams [8][44]

Core Viewpoint - The recent incidents of overseas fraudulent transactions on the "World Mastercard" issued by Shanghai Pudong Development Bank have raised significant concerns regarding the security of chip card technology and the effectiveness of cross-border transaction monitoring systems [1][2]. Group 1: Incident Overview - Multiple users reported unauthorized transactions on their credit cards, leading to investigations by both Shanghai Pudong Development Bank and Mastercard [1]. - Affected cardholders have had their bills cleared temporarily, and the bank has stated that customers will not bear the losses if the transactions are confirmed as fraudulent [2][3]. Group 2: Security Concerns - Analysts highlighted that the incident reveals vulnerabilities in chip card technology, which was previously considered secure, and emphasizes the need for upgrades [1]. - The failure of real-time monitoring systems for cross-border transactions was noted, particularly in regions like Brazil, where fraudulent activities went undetected [1][4]. Group 3: Responsibilities and Collaboration - The primary responsibility for monitoring and intercepting fraudulent transactions lies with the issuing banks, while card organizations are responsible for ensuring the security of the payment network [3][4]. - Experts pointed out that the collaboration between issuing banks and card organizations is currently fragmented, and there is a need for improved data sharing and risk monitoring systems [5]. Group 4: Prevention Measures - Recommendations for cardholders include avoiding letting cards out of sight during transactions, replacing magnetic stripe cards with chip cards, and closing overseas payment functions if not needed [6][7]. - Banks are enhancing their security measures, such as implementing features like "overseas lock" to prevent unauthorized transactions in foreign countries [7].

Investment Rating - The report maintains a positive outlook on the banking sector, suggesting potential investment opportunities due to favorable policy catalysts and improving fundamentals in certain banks [12]. Core Insights - The report highlights the adequacy of loan loss provisions among listed banks, with a provision coverage ratio of 70.8% for Stage 3 loans, indicating limited future impact on profits [2][12]. - It emphasizes the improvement in asset quality, particularly in Stage 3 loans, with notable reductions in the proportion of such loans for several banks compared to the end of Q4 2024 [1][2]. - The report suggests a focus on banks with positive fundamental changes and continuous improvement in financial statements, recommending specific banks for investment [12]. Summary by Sections 1. Loan Quality and Provisioning - The proportion of Stage 3 loans is relatively low for banks like Chengdu Bank (0.66%) and Ningbo Bank (0.76) [1]. - Significant improvements in Stage 3 loan ratios were observed for Chongqing Bank (-61bp) and Guiyang Bank (-48bp) compared to Q4 2024 [1]. - The provision coverage for Stage 3 loans is high, with leading banks like Qingnong Bank (4.35%) and Yunan Bank (4.16%) showing strong provisioning ratios [2]. 2. Financial Assets - The proportion of Stage 3 financial assets is low, with most banks not exceeding 0.05%, indicating manageable asset quality pressure [4]. - The report notes that the provision coverage for financial investments is also robust, with Zhejiang Bank (3.16%) and Qingdao Bank (2.85%) leading in provisioning ratios [8]. 3. Sector Outlook - The report anticipates that expansionary policies aimed at stabilizing the economy will benefit the banking sector, with a focus on banks like Ningbo Bank and Jiangsu Bank for potential investment [12]. - It highlights the ongoing economic recovery and the potential for interest rate cuts, suggesting a sustained dividend strategy for certain banks [12].

Report Industry Investment Rating - Not provided in the content Core Viewpoint of the Report - This week, micro - cap stocks declined again, and the convertible bond market continued to be weak. The convertible bond valuation compressed by about 1 percentage point, and its anti - decline performance was not prominent compared to the underlying stocks. Attention should be paid to whether the "double bottom" can form an effective support level. In the shock repair market since September 3, the high - price area of the convertible bond market was relatively resilient, but low - price bonds performed weakly, especially bank and non - bank convertible bonds. Considering the relatively thick bond floor and reasonable valuation from the perspective of the bottom - support premium rate, with the maturity of Pufa Convertible Bonds, the scarcity of large - cap convertible bonds will become more prominent, and the supply - demand contradiction may become the pricing mainline after valuation digestion [1][4]. Summary by Relevant Catalogs 1. Weekly Viewpoint and Outlook - Micro - cap stocks declined again this week, and the convertible bond market remained weak. The convertible bond valuation compressed by about 1 percentage point. Key indicators were slightly higher than the阶段性 low on September 2. The high - price area was resilient, while low - price bonds, especially bank and non - bank convertible bonds, performed weakly. Due to factors like institutional profit - taking and high valuations, but considering the thick bond floor and reasonable valuation from the bottom - support premium rate perspective, the supply - demand contradiction may become the pricing mainline after the maturity of Pufa Convertible Bonds [1][4]. 2. Convertible Bond Valuation - The convertible bond market fluctuated downward this week. The market - wide 100 - yuan valuation dropped by about 1 percentage point, slightly higher than the阶段性 low on September 2. The latest 100 - yuan premium rate was 33.6%, down 1.1% week - on - week, at the 87.2% percentile since 2017. High - and low - rated convertible bond valuations declined by about 1 percentage point [3][5]. - Compared with last week, the median conversion premium rate and bottom - support premium rate in each parity range decreased. The conversion premium rate percentile in the high - parity area was relatively low. The overall convertible bond market valuation declined this week, with both the conversion premium rates in the bond - biased and stock - biased areas decreasing. Although the conversion premium rate of bond - biased convertible bonds was still relatively high, its valuation percentile was not high from the bottom - support premium rate perspective [3][8]. - The median convertible bond price and the yield to maturity were reported at 129.25 yuan and - 5.92% respectively. Compared with last week, they changed by - 2.62 yuan and + 0.43% respectively, at the 97.70% and 1.00% percentiles since 2017 [3][13]. 3. Clause Tracking 3.1 Redemption - This week, 4 convertible bonds, including Jiuzhou Zhuan 2, Sanyang Convertible Bond, Keda Convertible Bond, and Lushan Convertible Bond, issued early redemption announcements. There were 27 convertible bonds that had issued early redemption or maturity redemption announcements but had not delisted, with a potential conversion or maturity balance of 35.1 billion yuan. Also, 4 convertible bonds issued non - redemption announcements. Currently, 38 convertible bonds were in the redemption process, and 8 were expected to meet the redemption conditions next week [3][17][21]. 3.2 Downgrade - This week, 2 convertible bonds, including Huitong Convertible Bond, proposed a downgrade, and Jiayuan Convertible Bond announced the downgrade result, reaching the lowest limit. As of now, 117 convertible bonds were in the non - downgrade period, 23 could not be downgraded due to net asset constraints, 1 had triggered the condition but the stock price was still below the downgrade trigger price without an announcement, 25 were accumulating downgrade days, and 5 had issued the board of directors' downgrade plan but had not held a general meeting of shareholders [3][24]. 3.3 Put - back - This week, Fuhan Convertible Bond issued a put - back announcement. As of now, 3 convertible bonds were accumulating put - back trigger days, with 1 proposing a downgrade, 1 in the non - downgrade period, and 1 accumulating downgrade days [3][27].