基金管理人的董事会及董事保证本报告所载资料不存在虚假记载、误导性陈述或重大遗漏， 并对其内容的真实性、准确性和完整性承担个别及连带责任。 基金托管人中国民生银行股份有限公司根据基金合同规定，于 2025 年 7 月 17 日复核了本报 告中的财务指标、净值表现和投资组合报告等内容，保证复核内容不存在虚假记载、误导性陈述 或者重大遗漏。 德邦民裕进取量化精选灵活配置混合型证 券投资基金 基金管理人：德邦基金管理有限公司 基金托管人：中国民生银行股份有限公司 报告送出日期：2025 年 7 月 18 日 德邦民裕进取量化精选灵活配置混合 2025 年第 2 季度报告 §1 重要提示 基金管理人承诺以诚实信用、勤勉尽责的原则管理和运用基金资产，但不保证基金一定盈利。 基金的过往业绩并不代表其未来表现。投资有风险，投资者在作出投资决策前应仔细阅读本 基金的招募说明书。 本报告中财务资料未经审计。 本报告期自 2025 年 4 月 1 日起至 6 月 30 日止。 §2 基金产品概况 | 德邦民裕进取量化精选灵活配置混合 | 基金简称 | | | --- | --- | --- | | 005947 | 基金主代码 | ...

Group 1 - The banking sector has regained momentum, with the newly added margin trading target bank AH Preferred ETF (517900) increasing by 0.55% as of 9:56 AM on July 18, 2025, with significant gains from constituent stocks such as Hangzhou Bank, Minsheng Bank, Nanjing Bank, Industrial Bank, and Ping An Bank [1] - The ETF has seen a continuous net inflow of funds for 12 consecutive days, with a year-to-date growth in fund size of 758.91%, reaching a historical high [1] - Hangzhou Bank Co., Ltd. reported a semi-annual performance summary for the first half of 2025, showing a steady improvement in operational efficiency and asset quality [1] Group 2 - For the first half of 2025, Hangzhou Bank achieved an operating income of 20.093 billion yuan, a year-on-year increase of 3.89%, and a net profit attributable to shareholders of 11.662 billion yuan, up 16.67% [1] - The bank's basic earnings per share rose to 1.75 yuan, reflecting a growth of 6.71% [1] - As of June 30, 2025, Hangzhou Bank's total assets reached 223.5595 billion yuan, a 5.83% increase from the end of the previous year, with total loans of 100.9418 billion yuan (up 7.67%) and total deposits of 133.8282 billion yuan (up 5.17%) [1] - The bank maintained a non-performing loan ratio of 0.76% and a provision coverage ratio of 520.89%, indicating a strong risk compensation capability [1]

沪指7月17日上涨0.37%，申万所属行业中，今日上涨的有25个，涨幅居前的行业为国防军工、通信， 涨幅分别为2.74%、2.41%。跌幅居前的行业为银行、交通运输，跌幅分别为0.42%、0.39%。银行行业 位居今日跌幅榜首位。 资金面上看，两市主力资金全天净流入116.62亿元，今日有15个行业主力资金净流入，计算机行业主力 资金净流入规模居首，该行业今日上涨1.33%，全天净流入资金52.02亿元，其次是电子行业，日涨幅为 2.18%，净流入资金为44.55亿元。 （文章来源：证券时报网） | 代码 | 简称 | 今日涨跌幅（%） | 今日换手率（%） | 主力资金流量（万元） | | --- | --- | --- | --- | --- | | 601288 | 农业银行 | -0.49 | 0.13 | -10673.12 | | 600919 | 江苏银行 | 0.17 | 0.52 | -9684.30 | | 002142 | 宁波银行 | -0.30 | 0.28 | -8155.28 | | 601665 | 齐鲁银行 | -0.49 | 1.68 | -7482.44 | | 6016 ...

Group 1 - The fund aims to achieve long-term capital appreciation by seeking investment returns that exceed the benchmark index through enhanced strategy [1][2] - The fund employs a quantitative multi-factor model to construct a stock portfolio, aiming for stable excess returns while controlling tracking error [2][10] - The fund's risk control targets include maintaining an average tracking deviation of less than 0.35% and an annual tracking error not exceeding 6.5% [2][10] Group 2 - As of the end of the reporting period, the fund's net asset value per share was 1.0425 yuan, with a net value growth rate of 4.24% [10][11] - The fund's performance benchmark is the return of the CSI 2000 Index, which had a return of 7.62% during the same period [10][11] - The fund's total shares outstanding at the end of the reporting period were 27,556,089 shares [4][11] Group 3 - The fund's investment portfolio consisted primarily of stocks, accounting for 91.79% of total assets, with a total value of approximately 27.29 million yuan [12][13] - The manufacturing sector represented the largest portion of the fund's investments, comprising 65.62% of the total asset value [12][13] - The fund did not hold any bonds or actively invest in stocks during the reporting period [12][13]

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：2025-027 中国民生银行股份有限公司 关于董事任职资格获国家金融监督管理总局核准 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（以下简称"本行"）于 2025 年 7 月 17 日收到《国 家金融监督管理总局关于林立民生银行董事任职资格的批复》（金复〔2025〕422 号）。 国家金融监督管理总局已核准林立先生担任本行董事的任职资格。 根据监管规定及本行第九届董事会第一次会议《关于中国民生银行第九届董事会 专门委员会组成成员的决议》，林立先生自任职资格核准之日起就任本行第九届董事 会董事，并担任董事会战略发展与消费者权益保护委员会委员。林立先生的简历请见 本行刊载于《中国证券报》《上海证券报》《证券时报》、上海证券交易所网站 （www.sse.com.cn）及本行网站（www.cmbc.com.cn）的《中国民生银行股份有限公 司第八届董事会第九次临时会议决议公告》。 特此公告 中国民生 ...

Core Insights - The conference titled "Based on Chain, Blooming with Glory" focused on the construction of the State Grid supply chain ecosystem and innovation in electricity financial services, aiming to provide high-quality financial services and address financing and settlement challenges for enterprises in the supply chain [1][7]. Group 1: Event Overview - The event was organized by China Minsheng Bank Jining Branch and supported by State Grid Jining Power Supply Company, gathering leaders from various financial and corporate sectors [2][3]. - Key representatives from major enterprises shared their experiences using Minsheng Bank's "Electricity e-Certificate," providing valuable insights for attendees [6]. Group 2: Financial Services and Innovations - China Minsheng Bank introduced the "State Grid Supply Chain Financial Service Plan," leveraging the "Electricity e-Finance" platform to offer comprehensive digital financial solutions covering orders, inventory, and electricity payments [6]. - The "Electricity e-Finance" platform aims to facilitate efficient collaboration between State Grid chain customers and financial institutions, providing diverse products for settlement, financing, and cash management [6][7]. Group 3: Future Outlook and Collaboration - The successful hosting of the conference is seen as a significant step towards modernizing the supply chain and promoting the innovative development of the State Grid supply chain ecosystem [7]. - China Minsheng Bank Jining Branch and State Grid Yingda Life Jining Center intend to deepen cooperation to provide quality financial services to enterprises in the supply chain, contributing to sustainable economic development [7].

永赢合享混合型发起式证券投资基金 2025 年第 2 季度报告 永赢合享混合型发起式证券投资基金 基金管理人：永 赢 基 金管理有限公司 基金托管人：中国民生银行股份有限公司 报告送出日期：2025 年 07 月 17 日 永赢合享混合型发起式证券投资基金 2025 年第 2 季 度报告 §1 重要提示 基金管理人的董事会及董事保证本报告所载资料不存在虚假记载、误导性陈述或重大遗漏，并对其内 容的真实性、准确性和完整性承担个别及连带责任。 基金托管人中国民生银行股份有限公司根据本基金合同规定，于 2025 年 07 月 15 日复核了本报告 中 的财务指标、净值表现和投资组合报告等内容，保证复核内容不存在虚假记载、误导性陈述或者重大遗 漏。 基金管理人承诺以诚实信用、勤勉尽责的原则管理和运用基金资产，但不保证基金一定盈利。 基金的过往业绩并不代表其未来表现。投资有风险，投资者在作出投资决策前应仔细阅读本基金的招 募说明书。 本报告中财务资料未经审计。 本报告期自 2025 年 04 月 01 日起至 2025 年 06 月 30 日止。 | §2 | 基金产品概况 | | | | | --- | --- | ...

各位投资者朋友大家下午好我是华安特略组分析师陈博近期市场对于银行板块关注度很高我们希望从多个角度对银行上涨的逻辑支撑然后未来的持续性角度对其做出一些详细的拆解所以我们未来会推出围绕银行多个问题探讨的系列报告那么我们将这个系列报告命名为银行放大镜系列今天给大家汇报该系列的第一篇报道银行股市率即将显著提升 这份报告主要是为了要探讨未来半年左右银行板块补息率的潜在变动幅度以及变化的时间节点那么核心结论是我们在转中期内仍然看好银行板块补息率整体维持在5%左右的一个水平并且有一个较强的支撑性那么接下来我们会从银行的主要分红方式银行的分红时间然后分红对补息率的具体影响三个方面进行拆解那么首先 我们从银行的派系方式去给大家做一个讲解通常来说上市公司分红有两种形式一种是发放现金股利的方式那么另外一种是股票股利比如说手上持有多少股然后以增发多余的股票为主那么上市公司其实可以根据实际情况选择其中的一种或者同时使用两种方式进行分红 那么我们其实可以看到就是从2022年到2024年银行公布的中报和年报中间实际上在42家A股上市银行中只有郑州银行在2023年采用了一次美股转赠的方式进行分红那么其余所有的上市银行的分红方式都是以派系为主 ...

Core Viewpoint - A significant number of listed banks in China are distributing cash dividends, with 37 out of 42 A-share listed banks having completed their annual dividend distributions by July 16, 2024, totaling 632.6 billion yuan, marking a 3.1% increase year-on-year [2][5][11]. Dividend Distribution - The total cash dividends distributed by 42 A-share listed banks for 2024 amount to 632.6 billion yuan, with Industrial and Commercial Bank of China (ICBC) and China Construction Bank (CCB) leading with 109.77 billion yuan and 100.75 billion yuan respectively [2][5][7]. - Notably, Zhengzhou Bank has the lowest total dividend of 18.2 million yuan, with a dividend rate of only 9.69%, the lowest among the listed banks [2][6][11]. Timing of Dividend Payments - Several banks, including SPDB and Ningbo Bank, have advanced their dividend payment dates, with SPDB distributing dividends on July 16 and Ningbo Bank distributing 5.943 billion yuan [3][4]. - Traditionally, annual dividends are distributed between June and July, but this year, four state-owned banks completed their distributions earlier, in April and May [4][5]. Year-on-Year Comparison - Among the 42 listed banks, only three banks saw a decline in their total dividend amounts compared to 2023: Zhejiang Commercial Bank, Minsheng Bank, and Ping An Bank, with declines of 4.88%, 11.11%, and 15.44% respectively [9][10]. - Conversely, 34 banks experienced an increase in their dividend amounts, with the highest growth seen in Zhengzhou Bank, which had no dividends in 2023 but distributed 18.2 million yuan in 2024 [9][10]. Future Dividend Plans - Many banks have outlined their cash dividend targets for 2025, with plans to distribute at least 30% of their net profits as cash dividends annually [12].

Core Viewpoint - A-share listed banks are experiencing a peak in dividend distribution for the 2024 fiscal year, with over thirty banks having completed their annual dividends and several others announcing dividend implementation plans [1][3][4]. Group 1: 2024 Annual Dividends - The Industrial and Commercial Bank of China (ICBC) leads with a total cash dividend of approximately 109.77 billion yuan for the previous year [3][4]. - The six major state-owned banks have collectively distributed over 420 billion yuan in dividends for 2024, with ICBC, China Construction Bank, Agricultural Bank of China, and Bank of China being the top contributors [4][6]. - Other banks such as China CITIC Bank and Beijing Bank have also announced significant cash dividends, with CITIC Bank distributing around 19.46 billion yuan [4][5]. Group 2: 2025 Mid-Year Dividend Plans - Several banks, including China Merchants Bank and Hangzhou Bank, have initiated plans for mid-year dividends in 2025, aiming to enhance investor returns [1][8][10]. - The focus on mid-year dividends is seen as a strategy to improve liquidity and provide more consistent cash flow to investors, which may support long-term stock price appreciation [10]. - Banks like Su Nong Bank and Changsha Bank have expressed intentions to implement mid-year dividend plans based on their financial performance and regulatory requirements [8][9]. Group 3: Stock Performance and Market Trends - The banking sector has shown strong performance in the A-share market, with several banks achieving significant stock price increases in the first half of the year [12][13]. - The overall dividend yield of the banking sector remains attractive, particularly in a low-interest-rate environment, making it appealing for long-term investors [10][13]. - Some banks have faced challenges in executing share buyback plans due to stock price fluctuations, indicating a cautious approach to capital management [11][14].