Market Overview - On October 31, the share price of the banking sector fell by 0.73% compared to the previous trading day, with Everbright Bank leading the decline [1] - The Shanghai Composite Index closed at 3954.79, down 0.81%, while the Shenzhen Component Index closed at 13378.21, down 1.14% [1] Individual Bank Performance - Industrial Bank (601166) saw a closing price of 20.23, with an increase of 1.00% and a trading volume of 887,900 shares, totaling 1.793 billion yuan [1] - Huaxia Bank (600015) remained unchanged at 6.81, with a trading volume of 670,600 shares, totaling 45.6 million yuan [1] - Ping An Bank (000001) closed at 11.32, down 0.53%, with a trading volume of 970,200 shares, totaling 1.099 billion yuan [1] - China Merchants Bank (600036) closed at 40.89, down 0.75%, with a trading volume of 702,600 shares, totaling 2.882 billion yuan [1] - Zheshang Bank (601916) closed at 2.99, down 0.99%, with a trading volume of 1.6683 million shares, totaling 501 million yuan [1] - Minsheng Bank (600016) closed at 3.91, down 1.01%, with a trading volume of 4.6781 million shares, totaling 1.834 billion yuan [1] - CITIC Bank (601998) closed at 7.74, down 1.28%, with a trading volume of 915,000 shares, totaling 705 million yuan [1] - Shanghai Pudong Development Bank (600000) closed at 11.49, down 1.29%, with a trading volume of 1.4353 million shares, totaling 1.658 billion yuan [1] - Everbright Bank (601818) closed at 3.34, down 3.19%, with a trading volume of 5.9154 million shares, totaling 1.987 billion yuan [1] Capital Flow Analysis - The banking sector experienced a net outflow of 381 million yuan from main funds, while speculative funds saw a net inflow of 433 million yuan, and retail investors had a net outflow of 51.53 million yuan [1] - Specific capital flows for individual banks indicate varying trends, with Shanghai Pudong Development Bank experiencing a main fund net inflow of 241 million yuan but a net outflow from retail investors of 181 million yuan [2] - Industrial Bank had a main fund net inflow of 56.7 million yuan, while retail investors saw a net outflow of 48.09 million yuan [2] - CITIC Bank recorded a main fund net inflow of 30.28 million yuan, with a net outflow from retail investors of 47.03 million yuan [2] - Everbright Bank faced a significant main fund net outflow of 65.63 million yuan, despite a net inflow from speculative funds of 111 million yuan [2] - China Merchants Bank had a substantial main fund net outflow of 2.71 billion yuan, while speculative funds saw a net inflow of 3.15 billion yuan [2] - Minsheng Bank experienced a main fund net outflow of 3.17 billion yuan, with a net inflow from retail investors of 2.37 billion yuan [2]

Core Insights - Minsheng Bank reported a revenue of 108.509 billion yuan for the first three quarters of 2025, reflecting a year-on-year growth of 6.74% [1] - The net profit attributable to shareholders reached 28.542 billion yuan [1] Financial Performance - Net interest income for the first three quarters was 75.510 billion yuan, with a year-on-year increase of 2.40% [1] - Average interest-earning assets stood at 7,108.196 billion yuan, showing a year-on-year growth of 0.73% [1] - The net interest margin improved by 2 basis points to 1.42% [1] - Non-interest income totaled 32.999 billion yuan, marking a significant year-on-year increase of 18.20% [1] - Fee and commission income was 14.388 billion yuan, with a slight year-on-year growth of 0.70% [1] - Other non-interest income saw a substantial increase of 4.982 billion yuan, reflecting a growth rate of 36.55% [1]

Core Insights - Minsheng Bank reported a total operating income of 108.51 billion RMB for the first three quarters of 2025, representing a year-on-year increase of 6.74% [2][5] - The net profit attributable to shareholders decreased to 28.54 billion RMB, down 6.38% year-on-year [2][5] - In Q3 2025, the bank's operating income was 36.13 billion RMB, a 4.61% increase compared to the same period last year, while net profit fell by 10.61% to 7.16 billion RMB [2][5] Financial Performance - For the first three quarters, net interest income was 75.51 billion RMB, up 2.40% year-on-year, with an average net interest margin of 1.42%, an increase of 2 basis points [6] - Non-interest income reached 32.99 billion RMB, showing an 18.20% increase year-on-year, driven by growth in trading and capital market activities [6] - The bank's basic earnings per share were 0.14 RMB, a decrease of 12.50% compared to the previous year [3] Asset and Liability Management - Total assets reached 78,728.64 billion RMB, an increase of 0.74% from the end of the previous year, with loans and advances totaling 44,367.59 billion RMB, a slight decrease of 0.31% [4] - Total liabilities were 71,723.16 billion RMB, up 0.19%, with customer deposits amounting to 42,556.02 billion RMB, reflecting a 0.15% increase [4] - The bank's focus on optimizing asset structure has led to a stable growth in general loans, which increased by 898 million RMB [4] Retail Banking and Customer Growth - The bank's retail customer base grew to 141.52 million, a 5.38% increase year-on-year, with private banking clients increasing by 18.21% to 73,409 [7] - Total assets under management (AUM) for retail clients reached 32,255.93 billion RMB, a 9.48% increase from the previous year [7] - Mortgage loans saw a cumulative issuance of 84.18 billion RMB in the first three quarters, a significant year-on-year growth of 24.23% [8] Asset Quality - The total amount of non-performing loans was 65.86 billion RMB, with a non-performing loan ratio of 1.48%, slightly up by 0.01 percentage points [8] - The bank's provision coverage ratio improved to 143.00%, an increase of 1.06 percentage points from the previous year [8] - The bank continues to enhance risk management strategies and monitor key areas to prevent new risks from emerging [8]

Core Viewpoint - Minsheng Bank reported a year-on-year increase in operating income for the first three quarters of 2025, but a decline in net profit attributable to shareholders [1] Financial Performance - The operating income for the first three quarters was 108.509 billion yuan, representing a year-on-year growth of 6.74% [1] - The net profit attributable to shareholders was 28.542 billion yuan, showing a year-on-year decrease of 6.38% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 28.783 billion yuan, down 5.47% year-on-year [1] - The basic earnings per share were 0.59 yuan [1]

Core Viewpoint - Minsheng Bank, established in 1996 and listed in 2000, is China's first nationwide joint-stock commercial bank primarily initiated by private enterprises, holding a significant position in the financial sector [1] Financial Performance - As of Q3 2025, Minsheng Bank reported operating revenue of 108.51 billion yuan, ranking 5th among 9 companies in the industry, with the top competitor, China Merchants Bank, at 251.42 billion yuan [2] - The bank's net profit for the same period was 28.54 billion yuan, placing it 7th in the industry, with the leading bank, China Merchants Bank, achieving 114.54 billion yuan [2] Financial Ratios - The asset-liability ratio for Minsheng Bank in Q3 2025 was 91.10%, slightly lower than the previous year's 91.60%, but higher than the industry average of 91.55%, indicating stable debt repayment capability [3] - The gross profit margin was reported at 27.75%, down from 31.53% year-on-year, and below the industry average of 43.53%, suggesting a need for improvement in profitability [3] Executive Compensation - The chairman of Minsheng Bank, Gao Yingxin, received a salary of 3.35 million yuan in 2024, a decrease of 2.53 million yuan from 2023 [4] Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 13.07% to 319,400, while the average number of circulating A-shares held per shareholder decreased by 11.56% to 111,000 [5] - In the first half of 2025, Minsheng Bank achieved operating revenue of 72.38 billion yuan, a year-on-year increase of 7.83%, while net profit decreased by 4.87% to 21.38 billion yuan [5] Business Highlights - Key business highlights include significant growth in non-interest income, stable net interest income, and an accelerated focus on retail mortgage loans [5] - The bank's asset quality remains stable, with effective risk mitigation in the real estate sector and enhanced risk compensation capabilities [5] Future Projections - Forecasts for 2025-2027 indicate expected revenues of 140.18 billion, 142.39 billion, and 144.28 billion yuan, with net profits projected at 32.44 billion, 33.29 billion, and 34.26 billion yuan respectively [5]

Core Insights - Minsheng Bank reported a total operating income of 108.51 billion yuan for the first three quarters of 2025, an increase of 6.74% year-on-year, while net profit attributable to shareholders decreased by 6.38% to 28.54 billion yuan [1][2] Group 1: Financial Performance - The bank's net interest income reached 75.51 billion yuan, growing by 2.40% year-on-year, with an average daily earning assets of 7.11 trillion yuan, reflecting a 0.73% increase [1] - Non-interest income totaled 32.99 billion yuan, marking an 18.20% increase year-on-year, driven by a significant rise in other non-interest income, which grew by 36.55% [1] - The net interest margin improved by 2 basis points to 1.42% [1] Group 2: Asset and Liability Management - As of the end of Q3, total assets amounted to 78.73 trillion yuan, up 0.74% from the end of the previous year, while total liabilities increased by 0.19% to 71.72 trillion yuan [2] - The total amount of loans and advances decreased by 0.31% to 44.37 trillion yuan [2] - The bank's deposit balance rose by 0.15% to 42.56 trillion yuan [2] Group 3: Asset Quality - The total non-performing loans reached 65.86 billion yuan, with a non-performing loan ratio of 1.48%, slightly up by 0.01 percentage points from the end of the previous year [2] - The provision coverage ratio improved to 143.00%, an increase of 1.06 percentage points [2]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚 賴該等內容而引致之任何損失承擔任何責任。 中國民生銀行股份有限公司 CHINA MINSHENG BANKING CORP., LTD. （在中華人民共和國註冊成立的股份有限公司） （股份代號：01988） 海外監管公告 本公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條由中國民生銀行 股份有限公司（「本行」）作出。 茲載列本行在上海證券交易所網站及中國報章刊登之《中國民生銀行股份有限公 司第九屆董事會第十六次會議決議公告》，僅供參閱。 承董事會命 中國民生銀行股份有限公司 董事長 高迎欣 中國，北京 2025年10月30日 於本公告日期，本行執行董事為高迎欣先生、王曉永先生及張俊潼先生；非執行 董事為劉永好先生、史玉柱先生、宋春風先生、趙鵬先生、梁鑫傑先生及林立先 生；獨立非執行董事為曲新久先生、溫秋菊女士、宋煥政先生、楊志威先生、程 鳳朝先生及劉寒星先生。 证券简称：民生银行 A 股代码：600016 优先股简称：民生优 1 优 ...

Core Insights - Minsheng Bank reported a total operating income of 108.51 billion yuan for the first three quarters of 2025, an increase of 6.74% year-on-year, while net profit attributable to shareholders decreased by 6.38% to 28.54 billion yuan [1] Financial Performance - Operating income increased by 6.74% year-on-year, with a total of 108.51 billion yuan [1] - Net profit attributable to shareholders decreased by 6.38% to 28.54 billion yuan [1] - Net interest income reached 75.51 billion yuan, up 2.40% year-on-year [1] - Average interest-earning assets increased by 51.64 billion yuan to 7,108.20 billion yuan, a growth of 0.73% [1] - Net interest margin improved by 2 basis points to 1.42% [1] - Non-interest income totaled 32.99 billion yuan, reflecting an 18.20% increase year-on-year [1] - Fee and commission income was 14.39 billion yuan, a slight increase of 0.70% [1] - Other non-interest income surged by 36.55% to 49.82 billion yuan, driven by increased trading in bonds and capital market fluctuations [1] Asset Quality - Total non-performing loans amounted to 65.86 billion yuan, an increase of 0.25% from the end of the previous year [2] - Non-performing loan ratio stood at 1.48%, up 0.01 percentage points from the end of the previous year [2] - Provision coverage ratio improved to 143.00%, an increase of 1.06 percentage points from the end of the previous year [2]

Core Insights - Minsheng Bank (01988) reported a revenue of 108.509 billion yuan for the first three quarters of 2025, representing a year-on-year increase of 6.74% [1] - The net profit attributable to shareholders was 28.542 billion yuan, showing a year-on-year decrease of 6.38% [1] - Basic earnings per share stood at 0.59 yuan [1] Financial Performance - Total assets reached 787.2864 billion yuan, an increase of 57.895 billion yuan from the end of the previous year, reflecting a growth rate of 0.74% [1] - Total loans and advances amounted to 443.6759 billion yuan, a decrease of 13.721 billion yuan, with a decline rate of 0.31%, accounting for 56.36% of total assets, down 0.59 percentage points from the previous year [1] - General loans showed steady growth, increasing by 89.8 billion yuan, and accounted for 54.89% of total assets, up 0.74 percentage points from the previous year [1] Liability Management - Total liabilities were 717.2316 billion yuan, an increase of 13.915 billion yuan, with a growth rate of 0.19% [1] - The balance of deposits reached 425.5602 billion yuan, increasing by 6.507 billion yuan, with a growth rate of 0.15%, accounting for 59.33% of total liabilities, down 0.03 percentage points from the previous year [1] - Personal deposits showed a positive growth trend, making up 32.56% of total deposits, an increase of 2.00 percentage points from the previous year [1] - The bank benefited from enhanced settlement scenario construction and improved cash flow management, leading to an increase in low-cost settlement deposits both in scale and proportion [1]

Core Insights - Minsheng Bank reported a revenue of 36.125 billion yuan for Q3 2025, representing a year-on-year growth of 4.61% [2] - The net profit attributable to shareholders decreased by 10.61% to 7.162 billion yuan, with basic earnings per share at 0.14 yuan [2] - For the first three quarters, the bank achieved a total revenue of 108.509 billion yuan, up 6.74% year-on-year, while net profit attributable to shareholders fell by 6.38% to 28.542 billion yuan, with basic earnings per share at 0.59 yuan [2]