Core Viewpoint - Asset Management Companies (AMCs) are increasingly active in the Chinese banking equity market, taking on the role of "white knights" to support listed banks through strategic investments and governance participation [1][2][3] Group 1: AMC Activities in Banking - Recent activities include CITIC Financial Asset increasing its stake in Everbright Bank from 7.08% to 8.00% and in Bank of China from 17.32% to 18.02% [2][3] - China Cinda Asset converted 11.785 billion yuan of SPDB convertible bonds into 912 million A-shares, becoming one of the top ten shareholders of SPDB [4] - China Great Wall Asset has nominated executives to serve as non-executive directors at Minsheng Bank, enhancing its governance role [1][4] Group 2: Evolution of AMC's Role - AMCs have transitioned from "bad debt banks" in the 1990s to strategic investors in the banking sector, reflecting a shift from policy-driven missions to market-oriented investments [1][5] - The current strategy of AMCs emphasizes both financial returns and the optimization of financial resource allocation [1][5] Group 3: Market Dynamics and Regulatory Environment - The tightening of shareholder qualification requirements and regulations on related party transactions has created a favorable policy environment for AMCs to enter the banking sector [8] - The average price-to-book ratio of A-share banks has remained low at 0.6, making bank stocks attractive for AMCs seeking stable dividend income [8][9] Group 4: Financial Performance and Strategic Needs - Traditional bad debt disposal business for AMCs is declining, prompting a shift towards bank equity investments for stable income and improved financial reporting [10] - CITIC Financial Asset reported a net profit of 9.618 billion yuan in 2024, a 440% increase from the previous year, highlighting the financial benefits of its investment strategy [10] Group 5: Collaborative Synergies - AMCs are deepening their cooperation with banks by participating in governance and risk management, which enhances the overall stability of the financial system [11] - The involvement of AMCs in bank governance helps to break internal control issues and reduce related party transaction risks [11] Group 6: Challenges and Future Considerations - Long-term success of AMC investments in banks must align with their functional positioning rather than purely commercial interests [12] - Regulatory frameworks need to ensure that AMC participation in banking governance is both effective and transparent [12]

2025年7月24日，民生银行（600016.SH）发布公告称，董事会决定聘任李稳狮为该行副行长，自国家金融监督管理总局核准其副行长任职资格之日起正式 就任。 同日，民生银行亦发布公告称，董事会收到石杰的辞职函。因到龄退休，石杰申请辞去该行副行长职务，且不再在该行及其控股子公司担任任何职务。 2025年行至过半，民生银行在董事、监事与高级管理人员层面经历了一系列变动。这些调整反映了该行内部治理结构的优化，或也预示着其在业务战略推进 上的新布局。 石杰出生于1965年，曾任河北经贸大学财务处科长，民生银行石家庄支行计财部总经理、营业部总经理，总行授信评审部副处长、总经理高级助理、副总经 理，长春分行行长、党委书记，总行授信评审部总经理，总行行长助理等职。2016年9月，石杰任中国民生银行副行长至今。 石杰离任后，李稳狮升任民生银行副行长。 民生银行公告显示，李稳狮现任民生银行北京分行行长。李稳狮出生于1977年，2004年加入民生银行。李稳狮曾任该行太原分行公司银行管理部副总经理 （主持工作），能源金融事业部北京二部副总监、呼和浩特分部市场总监，能源金融事业部总裁高级助理，集团金融事业部副总经理，总行资产保全部 ...

以银行股为代表的红利资产，除了保险资金不断举牌加仓外，公募基金也在增配。 近日，公募基金二季度持仓公布，主动权益类基金持有银行股的占比上升了0.9个百分点，非银金融持仓也提高了0.6个百分点，不过相对于 行业配置基准（行业市值占全A市值的比例）仍有空间。目前银行股的股息率仍然突出，平均市净率PB也低于1，但出于对净息差收窄和地 产下行拖累的担忧，市场对银行股的看法也存在分歧。 值得注意的是，当险资频频举牌银行H股，公募基金也开始增配， 部分银行股的A/H价差收窄，招商银行A/H价格倒挂，邮储银行、民生银 行等A/H溢价率大幅收窄，考虑到港股通20%或28%的红利税成本，后续在具体个股和A/H股的选择上，资金偏好可能有所分化。 金融股持仓比例提升 整体上，主动权益类基金在二季度明显增配了银行股和非银金融（券商、保险等），保险资金也在港股市场上频繁举牌银行股，但局部上一 些资金也获利了结，关于银行股的共识与分歧已经出现。 比如中泰资管的百亿基金经理姜诚，二季度就小幅减仓工商银行、招商银行，不过这两只银行股仍是他管理的中泰星元灵活配置混合A前十 大重仓股。姜诚一直认为选择红利股的关键不仅是股息率高，而且有持续且稳定 ...

【导读】民生银行发布公告，原副行长石杰到龄退休，聘任李稳狮为副行长 年内总行多部门发生人员调整 今年上半年，民生银行的中层管理人员也经历一轮较大调整，该行总行多个部门总经理赴任地方，部分 一级分行行长调任总行。 7月23日晚间，民生银行（600016）发布公告称，经该行第九届董事会提名委员会审议通过，董事会决 定聘任李稳狮为该行副行长，自国家金融监督管理总局核准其副行长任职资格之日起正式就任。 新添一名"70后"副行长 据悉，李稳狮为民生银行的"老人"，现任民生银行北京分行行长。 简历显示，李稳狮出生于1977年，1998年获山西大学法学学士学位，2011年获清华大学高级管理人员工 商管理硕士学位；2004年加入民生银行，曾任民生银行太原分行公司银行管理部副总经理（主持工 作），能源金融事业部北京二部副总监、呼和浩特分部市场总监，能源金融事业部总裁高级助理，集团 金融事业部副总经理，总行资产保全部副总经理（主持工作），天津分行行长，总行战略客户部总经理 兼任地产金融部负责人。 在加入民生银行前，李稳狮曾在山西省贸易促进会国际投资贸易服务中心、北京市大都律师事务所等机 构工作。 同日，民生银行还发布公告称，董事 ...

【导读】民生银行发布公告，原副行长石杰到龄退休，聘任李稳狮为副行长 中国基金报记者 马嘉昕 7月23日晚间，民生银行发布公告称，经该行第九届董事会提名委员会审议通过，董事会决定 聘任李稳狮为该行副行长，自国家金融监督管理总局核准其副行长任职资格之日起正式就 任。 新添一名"70后"副行长 据悉，李稳狮为民生银行的"老人"，现任民生银行北京分行行长。 例如，民生银行交易银行部原总经理杨鲲鹏调任合肥分行行长，该行合肥分行原行长孙兴拟 任信用卡中心总裁；该行信用卡中心原总裁陈大鹏调任深圳分行行长，该行深圳分行原行长 李景欣调任总行同业部首席经理；该行发展规划部总经理孙晓光调任成都分行行长等。 据悉，在2024年度的ESG报告中，民生银行曾提及，要关注管理能力与领导力发展，加强管 理人员队伍建设，包括配优配强各机构领导班子、加强各层级高管轮岗交流等。 在6月26日召开的民生银行2024年年度股东大会上，该行管理层表示，目前，"泛海系"已全 面退出该行股东行列。这一消息也引起市场的广泛关注。 同时，民生银行副行长兼董事会秘书李彬表示，根据监管规定及该行《公司章程》，持股3% 以上的股东有权提出董事候选人。目前，长城资产 ...

Group 1 - Leshan Electric achieved operating revenue of 1.623 billion yuan, a year-on-year increase of 1.94%, and a net profit of 7.9031 million yuan, a year-on-year decrease of 14.55% [1] - Zhimingda reported operating revenue of 295 million yuan, a year-on-year increase of 84.83%, and a net profit of 38.3 million yuan, a year-on-year increase of 2147.93% [2] - Dahu Co. reported operating revenue of 426 million yuan, a year-on-year decrease of 14.40%, and a net loss of 2.5716 million yuan, an improvement from a loss of 13.7824 million yuan in the same period last year [3] - Yubang Electric expects a net profit of 21.2 million to 25 million yuan, a year-on-year decrease of 35.47% to 45.28% [4] - Zhejiang Securities achieved operating revenue of 6.512 billion yuan, a year-on-year decrease of 18.60%, and a net profit of 1.149 billion yuan, a year-on-year increase of 46.54% [5] - Huashu Media reported operating revenue of 4.435 billion yuan, a year-on-year increase of 2.07%, and a net profit of 254 million yuan, a year-on-year increase of 4.63% [7] Group 2 - Sinopec reported oil and gas equivalent production of 262.81 million barrels, a year-on-year increase of 2%, and crude oil processing volume of 119.97 million tons, a year-on-year decrease of 5.3% [8] - Hengrui Medicine's subsidiary received approval for clinical trials of HRS8179, aimed at reducing brain edema after stroke [8] - Hengrui Medicine's subsidiary also received approval for clinical trials of HRS-1893, intended for treating heart failure with preserved ejection fraction [8] - Wanfu Co. announced a plan to reduce its stake by up to 2% through block trading [10] - Biological Co. received a warning letter from the Inner Mongolia Securities Regulatory Bureau for inaccuracies in financial reporting [11] - Zhujiang Co. reported a signed construction area of 47.1432 million square meters across 396 projects [13] Group 3 - Watson Bio received a patent for a peptide delivery system for RNA drugs [15] - Sanwei Chemical signed 31 new contracts worth 335 million yuan in the second quarter [17] - Shenzhou Cell's SCT640C injection received approval for clinical trials for rheumatoid arthritis [18] - Xinjiang Jiaojian reported new contracts worth 1.434 billion yuan in the second quarter [19] - Lais Information plans to use 550 million yuan of idle funds for cash management [21] - Zhongqi New Materials signed a mining rights transfer contract, increasing production capacity [22] Group 4 - Hengtong Optic-Electric won multiple marine energy projects worth 1.509 billion yuan [24] - China State Construction signed new contracts totaling 2.501 trillion yuan in the first half of the year [26] - David Medical's ventilator product registration application has been accepted [28] - Tianhai Defense's subsidiary signed a construction contract worth 16.224 million yuan [29] - Nantian Information plans to sign a procurement framework contract worth 58.27 million yuan with its controlling shareholder [31] - Baida Group announced a plan to reduce its stake by up to 3% [32] Group 5 - Jinli Permanent Magnet plans to issue $117.5 million in convertible bonds [34] - Haizheng Pharmaceutical's fumarate bedaquiline raw material drug application has been approved [36] - Huatai passed the advanced intelligent factory re-evaluation in Anhui Province [37] - Everbright Bank's shareholder increased its stake from 7.08% to 8% [40] - Supor reported total operating revenue of 11.478 billion yuan, a year-on-year increase of 4.68%, and a net profit of 940 million yuan, a year-on-year decrease of 0.07% [41] - Qianjin Pharmaceutical's subsidiaries received registration certificates for two drugs [42]

Summary of Key Points Group 1: Market Overview - On July 24, a total of 84 stocks in the A-share market experienced block trading, with a total transaction value of 1.794 billion yuan [1] - The top three stocks by transaction value were Hotgen Biotech (1.33 billion yuan), SAIC Motor (1.05 billion yuan), and China National Machinery Industry Corporation (1.03 billion yuan) [1] Group 2: Price Transactions - Among the stocks traded, 11 stocks were transacted at par value, 2 stocks at a premium, and 71 stocks at a discount [1] - Minsheng Bank and Skyworth Digital had the highest premium rates at 0.39% and 0.09% respectively [1] - Guangxin Technology, Bio Valley, and Ruisheng Intelligent had the highest discount rates at 30.66%, 26.5%, and 22.25% respectively [1] Group 3: Institutional Buying - The top institutional buying amounts were led by Hotgen Biotech (1.33 billion yuan), XCMG Machinery (1.01 billion yuan), and Shennong Development (88.275 million yuan) [2] - Other notable institutional purchases included Jiejia Weichuang (67.7057 million yuan) and SAIC Motor (52.29 million yuan) [2] Group 4: Institutional Selling - The leading institutional selling amounts were from Hailiang Co., Ltd. (24.817 million yuan), Anning Co., Ltd. (13.2458 million yuan), and Northern Copper Industry (4.8536 million yuan) [3] - Other significant sales included Dongrui Co., Ltd. (4.375 million yuan) and Shengtong Co., Ltd. (4 million yuan) [3]

Core Viewpoint - The banking sector has seen significant inflows from institutional funds, particularly public funds, in 2023, indicating a positive market sentiment towards bank stocks driven by various factors including policy effects and a focus on underweighted sectors [1][3]. Group 1: Fund Inflows and Holdings - As of the end of Q2 2023, public funds' total market value of holdings in bank stocks reached 205.37 billion yuan, a 27% increase from 161.61 billion yuan in Q1 2023 [2]. - China Merchants Bank remains the top holding among public funds, with 966 funds holding shares worth 75.82 billion yuan; other significant holdings include Industrial Bank, Industrial and Commercial Bank of China, and Jiangsu Bank, each exceeding 10 billion yuan in total market value [2]. - Public funds have notably increased their holdings in several national joint-stock banks, with Minsheng Bank seeing the largest increase of 582 million shares, followed by Industrial Bank and CITIC Bank with increases of 332 million shares and 260 million shares, respectively [2]. Group 2: Market Conditions and Strategies - The increase in public fund holdings in bank stocks is attributed to two main factors: the gradual realization of policy effects leading to asset price stabilization and a renewed focus on underweighted sectors following the release of the "Action Plan for Promoting High-Quality Development of Public Funds" in May [3]. - Active equity funds and passive index funds have both increased their holdings in bank stocks, with active equity funds holding 4.87% of bank stocks by the end of Q2 2023, the highest level since Q2 2021, reflecting a significant increase of 1.12 percentage points from Q1 2023 [3]. Group 3: Performance and Outlook - The banking sector index has risen over 18% year-to-date as of July 23, 2023, with some individual stocks showing even greater gains, indicating strong market support for bank stocks [5]. - Analysts believe that the banking sector's valuation is likely to continue recovering, supported by stable market conditions and improving fundamentals, with a focus on the banks' net interest margins and asset quality [5][6]. - The overall stability of core banking operations is expected to support the sector's fundamentals, with positive signals from interest margin and funding costs anticipated to reflect in the sector's revenue performance [6].

证券简称：民生银行 A 股代码：600016 优先股简称：民生优 1 优先股代码：360037 编号： 2025-029 中国民生银行股份有限公司 会议审议通过了如下决议： 关于聘任李稳狮先生为本行副行长的决议 根据本行经营管理需要和公司章程相关规定，经本行第九届董事会提名委员会 审议通过，董事会决定聘任李稳狮先生为本行副行长，自国家金融监督管理总局核 准其副行长任职资格之日起正式就任。 议案表决情况：同意 13 票，反对 0 票，弃权 0 票。 李稳狮先生简历如下： 第九届董事会第四次临时会议决议公告 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。 中国民生银行股份有限公司（以下简称"本行"）第九届董事会第四次临时会 议于 2025 年 7 月 23 日在北京以现场方式召开，会议通知、会议文件于 2025 年 7 月 18 日以电子邮件方式发出。会议由高迎欣董事长召集并主持。会议应到董事 15 名，现场出席董事 7 名，董事长高迎欣，副董事长王晓永，董事梁鑫杰、林立、宋 焕政、刘寒星、张俊潼现场出席会议；电话/视频连线出席董事 ...

证券简称：民生银行 A 股代码：600016 优先股简称：民生优 1 优先股代码：360037 编号：2025-028 中国民生银行股份有限公司 关于副行长离任的公告 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。 中国民生银行股份有限公司（简称"本行"）董事会收到石杰先生的辞职函。 因到龄退休，石杰先生申请辞去本行副行长职务，自 2025 年 7 月 23 日起生效。 | 姓名 | 离任职务 | 离任时间 | | 原定任期 到期日 | 离任原因 | 是否继续在上 市公司及其控 | 是否存在未 履行完毕的 | | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | | | 股子公司任职 | 公开承诺 | | 石杰 | 副行长 | 年 2025 日 23 | 月 7 | - | 到龄退休 | 否 | 否 | 一、高级管理人员离任情况 二、离任对本行的影响 石杰先生确认与本行董事会、监事会、高级管理层无任何不同意见，亦无任何 与辞职有关或其他事项需要通知股东及债权人。 ...