Investment Rating - The industry investment rating is "Buy" [2] Core Insights - The report provides a comprehensive analysis of 127 regional banks in Jiangsu Province, highlighting their asset and liability structures, profitability, and asset quality [6][18] - Jiangsu's regional banks have shown a significant increase in asset growth, with major city commercial banks growing at 19.4%, surpassing the growth of listed city commercial banks at 14.2% [24][26] - The report indicates that the loan-to-asset ratio for city commercial banks is projected to reach 48.4% in 2024, reflecting a gradual increase in lending activities [30] - Jiangsu's regional banks exhibit better return on assets (ROA) compared to listed banks, with city commercial banks outperforming by 16 basis points and rural commercial banks by 9 basis points [6][42] - The asset quality of Jiangsu's regional banks is superior to that of listed banks, with lower non-performing loan ratios and higher provision coverage ratios [6][42] Summary by Sections 1. Economic Structure of Jiangsu Province - Jiangsu Province is focusing on new industrialization and strategic emerging industries, with significant contributions from cities like Nanjing and Suzhou [13][14] 2. Overview of 127 Regional Banks in Jiangsu - The report categorizes the banks into city commercial banks, rural commercial banks, and others, with a total of 127 banks established between 2006 and 2015 [18][20] 3. Asset/Liability Structure - The asset growth of major city commercial banks is accelerating, while rural commercial banks are experiencing a decline in growth rates [24][26] - The loan-to-asset ratio for city commercial banks is expected to increase to 48.4% by 2024, indicating a shift towards more lending [30] 4. Profitability - Jiangsu's regional banks have a higher ROA compared to listed banks, with city commercial banks showing a 16 basis point advantage [6][42] 5. Asset Quality/Capital Levels - Jiangsu's regional banks maintain a lower non-performing loan ratio compared to listed banks, with city commercial banks having a 30 basis point lower ratio [6][42]

Group 1 - The Ministry of Finance, the People's Bank of China, and the Financial Regulatory Administration have extended the personal consumption loan interest subsidy policy until the end of 2026, indicating a reinforcement of the "national subsidy" policy for personal consumption loans [1] - Major state-owned banks, including ICBC, ABC, BOC, CCB, BOCOM, and PSBC, have announced the implementation of the optimized personal consumption loan subsidy policy, which includes extending the policy deadline, expanding the support scope, and raising the subsidy standards [1][2] - The actual interest rates for high-quality customers benefiting from the subsidy can drop to around 2%, which is lower than the current housing loan rates, with annualized rates for consumer loans generally remaining around 3% [2] Group 2 - Ant Consumer Finance has also extended its subsidy policy until the end of 2026, removing the previous limit on single transaction subsidies and supporting diverse consumer needs [3] - Various banks are actively launching promotional measures, such as increasing loan limits and maintaining low interest rates, to stimulate consumer spending, especially in response to the upcoming Spring Festival [4] - The combination of fiscal subsidies and financial incentives from banks aims to lower consumer financing costs and enhance customer loyalty, effectively driving consumption [4]

转自：新华财经 新华财经北京1月23日电（记者吴丛司）招商银行23日发布2025年度业绩快报显示，2025年实现营业收 入3375.32亿元，同比微增0.01%；归属于本行股东的净利润1501.81亿元，同比增长1.21%。 在资产质量方面，截至2025年12月31日，招行不良贷款率0.94%，较上年末下降0.01个百分点；拨备覆 盖率391.79%，较上年末下降20.19个百分点；贷款拨备率3.68%，较上年末下降0.24个百分点。 编辑：刘润榕 业绩快报显示，截至2025年12月31日，招行资产总额130705.23亿元，较上年末增加9184.87亿元，增幅 7.56%；负债总额117896.24亿元，较上年末增加8710.63亿元，增幅7.98%。 ...

资金面上看，两市主力资金全天净流出85.76亿元，今日有12个行业主力资金净流入，电力设备行业主 力资金净流入规模居首，该行业今日上涨3.50%，全天净流入资金123.23亿元，其次是有色金属行业， 日涨幅为2.73%，净流入资金为54.32亿元。 主力资金净流出的行业有19个，电子行业主力资金净流出规模居首，全天净流出资金130.25亿元，其次 是通信行业，净流出资金为69.11亿元，净流出资金较多的还有机械设备、公用事业、建筑装饰等行 业。 沪指1月23日上涨0.33%，申万所属行业中，今日上涨的有23个，涨幅居前的行业为电力设备、有色金 属，涨幅分别为3.50%、2.73%。跌幅居前的行业为通信、银行，跌幅分别为1.52%、0.90%。银行行业 位居今日跌幅榜第二。 | 代码 | 简称 | 今日涨跌幅（%） | 今日换手率（%） | 主力资金流量（万元） | | --- | --- | --- | --- | --- | | 600036 | 招商银行 | -0.92 | 0.92 | -90149.12 | | 601166 | 兴业银行 | -1.19 | 0.81 | -26498.17 | | ...

此次活动由西安市委金融办、西安市工业和信息化局、西安市科学技术局、西安市财政局共同主办，招商银行西安分行、招商永隆银行、陕西股权交易中心 及陕西资本市场服务中心承办，旨在搭建政、银、企高效对接的桥梁，整合交易所、银行及专业服务机构优质资源，精准解读最新政策动向，分享专业解决 方案，共同助力拟上市企业破解出海难题，抢占国际化发展先机。 当前，香港作为国际金融中心，已成为内地企业对接全球资本、实现国际化发展的桥头堡。2025年以来，港股市场上市活动持续活跃，排队企业数量稳步增 长。西安市作为国家重要的经济与文化中心，经济发展势头良好，企业上市培育体系日益成熟，一批具备潜力的企业正积极筹划通过境外上市拓展发展空 间。 沙龙上，香港交易所代表围绕"香港资本市场赋能陕西企业出海发展"主题，系统介绍了港股市场最新动态、上市规则要点与审核流程，为企业绘制清晰的赴 港上市路线图。 1月22日下午，"聚焦疑难 助力出海"拟上市企业赋能沙龙活动在陕西资本市场服务中心举办。 数十家陕西优质企业代表参会，与政府部门、交易所、金融机构代表面对面沟通，共话企业赴港上市与国际化发展路径。 @ HASE @ REARAL ZA MANARI ...

格隆汇1月23日丨招商银行(600036.SH)公布，2025年，本集团各项业务稳健开展，总体经营情况良好。 2025年，本集团实现营业收入3,375.32亿元，同比增加0.44亿元，增幅0.01%；利润总额1,789.93亿元， 同比增加3.41亿元，增幅0.19%；归属于本行股东的净利润1,501.81亿元，同比增加17.90亿元，增幅 1.21%。截至2025年12月31日，本集团资产总额130,705.23亿元，较上年末增加9,184.87亿元，增幅 7.56%；负债总额117,896.24亿元，较上年末增加8,710.63亿元，增幅7.98%；不良贷款率0.94%，较上年 末下降0.01个百分点；拨备覆盖率391.79%，较上年末下降20.19个百分点；贷款拨备率3.68%，较上年 末下降0.24个百分点。 ...

招商银行股份有限公司 2025 年度业绩快报公告 本公司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。 A 股简称：招商银行 A 股代码：600036 公告编号：2026-002 5. 贷款拨备率=贷款损失准备／贷款和垫款总额。 本公告所载 2025 年度主要财务数据为招商银行股份有限公司（简称本公司 或本行）初步核算的集团口径数据，未经会计师事务所审计，具体数据以本公司 最终披露的 2025 年度报告财务数据为准，请投资者注意投资风险。 | | | | （除特别说明外，单位人民币百万元） | | --- | --- | --- | --- | | 主要财务数据 | 2025 年 | 2024 年 | 增减变动幅度 | | | （未经审计） | （经审计） | | | 营业收入 | 337,532 | 337,488 | 0.01% | | 其中：非利息净收入 | 121,939 | 126,211 | -3.38% | | 营业利润 | 179,252 | 179,019 | 0.13% | | 利润总额 | 178,993 | ...

超卓航科公告称，其全资子公司上海超卓就与招商银行南京城北支行储蓄存款合同纠纷，再次向南京市 鼓楼区人民法院提起民事诉讼，涉案储蓄款6000万元及逾期付款利息455.4万元（暂计至2025年12月8 日）。此前，上海超卓起诉因关联刑事案件未审结被驳回。目前案件已立案受理，尚未开庭。公司2023 年已将被划转的5995万元存款确认为损失，实际控制人已垫付该款项。案件结果不确定，公司将及时披 露进展。 ...

格隆汇1月23日｜招商银行发布2025年度业绩快报，2025年实现营业收入3375.32亿元，同比微增 0.01%；归属于本行股东的净利润1501.81亿元，同比增长1.21%。 ...

格隆汇1月23日丨招商银行(600036.SH)公布，2025年，本集团各项业务稳健开展，总体经营情况良好。 2025年，本集团实现营业收入3,375.32亿元，同比增加0.44亿元，增幅0.01%；利润总额1,789.93亿元， 同比增加3.41亿元，增幅0.19%；归属于本行股东的净利润1,501.81亿元，同比增加17.90亿元，增幅 1.21%。截至2025年12月31日，本集团资产总额130,705.23亿元，较上年末增加9,184.87亿元，增幅 7.56%；负债总额117,896.24亿元，较上年末增加8,710.63亿元，增幅7.98%；不良贷款率0.94%，较上年 末下降0.01个百分点；拨备覆盖率391.79%，较上年末下降20.19个百分点；贷款拨备率3.68%，较上年 末下降0.24个百分点。 ...