作 者丨赵阳，杨韵琪，毕凤至 编 辑丨梁明，江佩佩 4月3 0日早盘，创业板指涨幅扩大至1%，沪指翻红，截至发稿全市场超3 9 0 0只个股上涨。AI 概念大涨，银行、PEEK材料概念大跌。 | | 万得全A涨跌分布 | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 跌 1292 成交额 5214.27亿 | | | | | 预测成交额 1.13万亿,增930亿 | | 涨3928 | | | | | Wind热门概念指数 | | | | | Wind中国行业指数 | | | | ChatGPT 3.81% | 智能体 3.46% | Kimi 3.21% | 操作系统 3.21% | 拼多多合作商 3.03% | 教育 2.87% | 互联网 2.76% | 软件 2.44% | 日用化工 2.37% | 综合类 2.16% | | AIGC 3.02% | 华为HMS 3.03% | 在线教育 2.93% | 华为鲲鹏 2.95% | 大数据 2.70% | 家居用品 2.01% | 文化 ...

Market Overview - The A-share market experienced a shift with funds moving from previously popular sectors like banks and PEEK materials back to technology sectors, particularly computing power stocks [1] - As of the latest trading session, the Shanghai Composite Index fell by 0.17%, while the Shenzhen Component Index rose by 0.59%, and the ChiNext Index increased by nearly 1% [1] Computing Power Stocks - Computing power concept stocks saw a significant surge, with companies like Hongbo Co., Ltd. (002229) achieving a four-day consecutive limit-up [2] - Other notable performers included Zhejiang Wenlian (600986) and Focus Technology (002315), both of which also hit their daily price limits [6][7] AI Sector Developments - The Beijing government has released a work plan to support the healthy and high-quality development of the private economy, which includes backing private enterprises in building intelligent computing centers and providing support for companies purchasing self-controlled GPU chips [8] - Major companies like Tencent and Alibaba have made substantial GPU resource purchases from ByteDance, with Tencent acquiring approximately 2 billion yuan worth [8] - ByteDance reportedly has around 1 million GPU cards, positioning it among the top in global computing power resources [8] Banking Sector Performance - The banking sector faced a collective downturn, with Huaxia Bank leading the decline at 8%, while other major banks like China Construction Bank and Agricultural Bank of China also saw declines exceeding 2% [9][10] - Specific financial results for Q1 2025 showed Huaxia Bank's net profit at 5.063 billion yuan, down 14.04% year-on-year, and China Construction Bank's net profit at 83.35 billion yuan, down 3.99% year-on-year [10]

Retail Sector Activity - The retail sector showed significant activity with Maoye Commercial (600828) hitting the daily limit and achieving five consecutive trading limits [1][4] - Other notable stocks in the retail sector included Cuiwei Co. (603123) and Laisen Tongling (603900), both reaching the daily limit, while Zhongxing Commercial (000715) and Hongqi Chain (002697) also saw substantial gains [4] Economic Indicators - In the first quarter, China's total retail sales of consumer goods reached 12.47 trillion yuan, marking a year-on-year growth of 4.6%, which is an acceleration of 1.1 percentage points compared to the previous year [6] - March alone saw a growth rate of 5.9% in retail sales [6] AI Glasses Concept - The AI glasses concept opened strong with Yingtong Communications (002861) hitting the daily limit, while Deep Konka A surged over 8% [7] Computing Power Leasing Concept - The computing power leasing concept gained momentum with Changshan Beiming (000158), Chaoxun Communication (603322), and Hongbo Co. (002229) all reaching the daily limit, and Yitian Intelligent (300911) rising over 10% [8] Real Estate Sector Movement - The real estate sector experienced a surge with Zhonghua Enterprise (600675) and Yuehongyuan A both hitting the daily limit, while Huayuan Real Estate (600743) and Xinhuangpu (600638) increased by over 7% [9] Banking Sector Decline - The banking sector faced declines, with Huaxia Bank dropping over 8%, and major banks like China Construction Bank, Beijing Bank, and others falling by more than 2% [10] Manufacturing PMI - China's manufacturing purchasing managers' index (PMI) for April was reported at 49%, a decrease of 1.5 percentage points from the previous month, indicating a contraction in the manufacturing sector [11] - High-tech manufacturing PMI stood at 51.5%, indicating continued expansion in that sector [11] - The service sector maintained expansion with a business activity index of 50.1, despite a slight decline from the previous month [11] US Automotive Tariff Developments - President Trump signed an announcement to provide compensation for tariffs on imported auto parts, allowing up to 3.75% of the retail price for compensation, which will decrease to 2.5% in the second year [12] - This move reflects ongoing pressure on the government regarding its tariff policies [12]

银行板块盘初下挫，华夏银行（600015）跌超8%，建设银行（601939）、北京银行（601169）、苏州 银行（002966）、招商银行（600036）跌幅居前。华夏银行第一季度净利润50.63亿元，同比下降 14.04%。 ...

Focus Events - Four companies, including *ST Xulan and *ST Jiayu, will officially delist from A-shares on April 30, 2025, following announcements from the Shenzhen Stock Exchange regarding their termination of listing decisions [1][1][1] Banking Sector - Seven major banks, including Industrial and Commercial Bank of China and Agricultural Bank of China, announced plans to abolish their supervisory boards, pending approval from their respective shareholder meetings [2][2][2] Macro News - The People's Bank of China held a meeting to implement the overall statistical system for the "Five Major Articles" in finance, emphasizing the importance of statistical work and establishing a comprehensive "1+N" statistical system [3][3][3] Industry Dynamics - The Ministry of Industry and Information Technology issued a notice to accelerate the cultivation of pilot testing platforms in manufacturing, focusing on optimizing the layout and upgrading key platforms [5][5][5] - The Ministry of Agriculture and Rural Affairs announced a plan to continuously adjust and optimize pig production capacity, implementing a monitoring and early warning system for production [7][7][7] Company Focus - Guotai Junan Securities reported a 391.78% increase in net profit for Q1 2025, reaching 12.24 billion yuan, with total assets nearing 1.69 trillion yuan [10][10][10] - Xinhua Insurance plans to establish a 20 billion yuan fund in collaboration with China Life, targeting A+H shares of large listed companies [11][11][11] - Tianqi Lithium achieved a net profit of 104 million yuan in Q1 2025, recovering from a loss of 389.7 million yuan in the same period last year [12][12][12] - Ganfeng Lithium reported a net loss of 356 million yuan in Q1 2025, with a 25.43% decline in revenue [12][12][12] - Longi Green Energy posted a net loss of 8.618 billion yuan for 2024, with a 36.23% decrease in revenue [13][13][13] - Air China reported a net loss of 2.044 billion yuan in Q1 2025, with a slight revenue decline of 0.11% [14][14][14] - Industrial and Commercial Bank of China recorded a revenue of 212.77 billion yuan in Q1 2025, down 3.22% year-on-year [15][15][15] - Saisir reported a 240.6% increase in net profit for Q1 2025, despite a 27.91% decrease in total revenue [16][17] - Kweichow Moutai's net profit grew by 11.56% in Q1 2025, with revenue increasing by 10.54% [18][18][18] - Northern Rare Earth achieved a net profit increase of 727% in Q1 2025, with revenue up 61.19% [19][19][19] - China Life reported a 39.5% increase in net profit for Q1 2025, with total premiums reaching 354.4 billion yuan [20][20][20] - Pianzaihuang's net profit increased by 2.59% in Q1 2025, despite a slight revenue decline [21][21][21] - CITIC Securities reported a 32% increase in net profit for Q1 2025, with revenue up 29.13% [22][22][22] - Zhengzhou Bank's total assets surpassed 700 billion yuan for the first time, with a 4.98% increase in net profit for Q1 2025 [23][23][23]

Core Viewpoint - Major state-owned banks in China, including Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, China Construction Bank, and Bank of Communications, along with two joint-stock banks, China Merchants Bank and Huaxia Bank, announced the decision to abolish their supervisory boards, transitioning oversight responsibilities to the audit committees of their boards of directors [1][4][7][10][13][15]. Group 1: Announcement Details - The boards of directors of the major banks have approved the proposals to abolish the supervisory boards and will submit these proposals to the shareholders' meetings for approval [1][4][7][10][13]. - China Merchants Bank will not establish a supervisory board and will have its audit committee assume the supervisory responsibilities, with the current supervisory board not being re-elected after its term ends [13][15]. - Huaxia Bank's board has also approved the proposal to abolish its supervisory board, and related governance structures will be terminated following the official dissolution of the supervisory board [15][16]. Group 2: Regulatory Context - The new revised Company Law of the People's Republic of China, effective July 2024, allows companies to set up audit committees within their boards to perform the functions of supervisory boards, eliminating the need for a supervisory board [17]. - The National Financial Regulatory Administration issued a notice to align governance regulations with the new Company Law, promoting the optimization of governance structures in financial institutions [17][18]. - The notice emphasizes the importance of communication with stakeholders during the transition and aims to enhance governance efficiency and effectiveness [17][18].

Core Viewpoint - The company reported a decline in profits and key financial metrics for the first quarter of 2025, while also announcing significant governance changes, including the abolition of the supervisory board and the appointment of a new board secretary [10][53][30]. Financial Performance - The total profit for the group in Q1 2025 was 6.731 billion yuan, a decrease of 1.198 billion yuan or 15.11% year-on-year [10]. - The net profit attributable to shareholders was 5.063 billion yuan, down by 827 million yuan or 14.04% compared to the previous year [10]. - Total assets reached 4.521 trillion yuan, an increase of 144.708 billion yuan or 3.31% from the end of the previous year [10]. - Total loans amounted to 2.475 trillion yuan, up by 108.661 billion yuan or 4.59% year-on-year [10]. - Total liabilities were 4.152 trillion yuan, increasing by 141.565 billion yuan or 3.53% [10]. - Total deposits reached 2.283 trillion yuan, an increase of 132.353 billion yuan or 6.15% [10]. - The non-performing loan ratio was 1.61%, up by 0.01 percentage points from the end of the previous year [10]. - The provision coverage ratio was 156.85%, down by 5.04 percentage points [10]. Governance Changes - The supervisory board was proposed to be abolished, with the decision pending approval from the shareholders' meeting and regulatory authorities [53][54]. - The company appointed Yang Wei as the new board secretary, pending regulatory approval of his qualifications [30][17]. - The board meeting on April 28, 2025, was held with full attendance and approved several key resolutions, including the financial report and governance changes [20][21]. Upcoming Shareholder Meeting - The annual shareholder meeting is scheduled for May 13, 2025, where additional proposals will be discussed, including the abolition of the supervisory board and amendments to the company's articles of association [35][38].

Core Viewpoint - 华夏银行 is actively enhancing its services to support the high-quality development of state-owned enterprises (SOEs) in Beijing, aligning with national strategies and the "14th Five-Year Plan" [1][10]. Group 1: Support for SOEs' Internationalization - The bank is facilitating SOEs' international expansion by providing comprehensive financial services, as highlighted by its role in the successful issuance of $9.5 billion in bonds for首创集团 [3]. - 华夏银行 aims to leverage its cross-border financial capabilities, including bond underwriting and trade financing, to support SOEs in their global endeavors [4]. Group 2: Innovation in Financial Products - The bank is focusing on innovation in financial products to empower SOEs' transformation, particularly in the areas of technology, green finance, and inclusive finance [5]. - Specific products such as "科创易贷" and "知识产权贷" are designed to meet the needs of technology-driven enterprises, with significant investments already made in over 10 Beijing-based tech companies [5][6]. Group 3: Collaboration with Government and Enterprises - 华夏银行 is establishing a collaborative framework with key government departments to enhance project financing and support the digital transformation of SOEs [7]. - The bank has successfully implemented digital RMB services for over 30 municipal enterprises, showcasing its commitment to modernizing financial services [7]. Group 4: Commitment to Consumer Finance - The bank is dedicated to enhancing consumer finance in Beijing, launching initiatives to stimulate local consumption and support housing needs for new residents [8][9]. - Programs like "接力贷" and partnerships with e-commerce platforms aim to improve accessibility to loans and promote consumer spending [9]. Group 5: Internal Reforms for High-Quality Development - 华夏银行 is undergoing internal reforms to boost its operational efficiency and market competitiveness, with a focus on enhancing service quality and asset management [10]. - The bank's "京华行动" reform initiative is aimed at aligning its services with the evolving needs of the capital's economy [10].

Core Viewpoint - Seven banks in China, including five state-owned banks and two joint-stock banks, announced on the same day that they will no longer establish supervisory boards, aligning with the new Company Law that allows for the establishment of audit committees within the board of directors to perform the functions of supervisory boards [2][15]. Group 1: State-Owned Banks - Industrial and Commercial Bank of China approved the amendment to its articles of association to abolish the supervisory board [3]. - Agricultural Bank of China also passed the resolution to no longer establish a supervisory board [5]. - Bank of China submitted a proposal to the shareholders' meeting to abolish its supervisory board [7]. - China Construction Bank approved the resolution regarding the abolition of the supervisory board and its office [8]. - Bank of Communications passed the proposal to no longer establish a supervisory board [11]. - The proposals from these five banks will be submitted for shareholder approval and subsequently reported to the financial regulatory authority for approval [12]. Group 2: Joint-Stock Banks - China Merchants Bank approved the resolution to abolish the supervisory board, transferring its functions to the audit committee of the board of directors, and will not re-elect the supervisory board after the current term ends [13]. - Huaxia Bank's board approved the resolution to abolish its supervisory board, and related governance systems will be terminated after the supervisory board is officially dissolved [14]. Group 3: Regulatory Context - The revised Company Law, effective July 2024, allows companies to set up audit committees within the board to perform the functions of supervisory boards, thus eliminating the need for supervisory boards [15]. - The financial regulatory authority issued a notice in December 2024, clarifying that financial institutions can choose to maintain supervisory boards or transfer their functions to audit committees based on their actual circumstances [15]. - The changes are expected to reduce management costs and enhance governance flexibility and effectiveness [15].

A 股代码：600015 A 股简称：华夏银行 编号：2025—27 华夏银行股份有限公司关于公司章程修订的公告 3 | 序号 | 原条款 | 修订后条款 | 说明 （修订依据） | | --- | --- | --- | --- | | | 当支付相同价额。 | | | | 13. | 第二十四条 本行发行的股 | 第二十五条 本行发行的面额股，以人 | 《公司法》第一 | | | 票，以人民币标明面值。本行内资 | 民币标明面值。本行内资股股票在中国证券 | 百四十二条； | | | 股股票在中国证券登记结算有限责 | 登记结算有限责任公司上海分公司集中托 | 《上市公司章程 | | | 任公司上海分公司集中托管。 | 管。 | 指引》第十八条。 | | 14. | 第二十五条 本行经中国人民 | 第二十六条 本行经中国人民银行批 | 本行优先股已全 | | | 银行批准，改制为股份有限公司， | 准，改制为股份有限公司，股份有限公司成 | 部赎回，相应删 | | | 股份有限公司成立时向发起人发行 | 立时向发起人发行合计贰拾伍亿股股份，占 | 除优先股事实性 | | | 合计贰拾伍亿股股份，占其时本行 ...