招商銀行股份有限公司 CHINA MERCHANTS BANK CO., LTD. （於中華人民共和國註冊成立的股份有限公司） （H股股票代碼：03968） 關於獨立非執行董事辭任的公告 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份內容而產生或因倚 賴該等內容而引致之任何損失承擔任何責任。 招商銀行股份有限公司（「本公司」）董事會收到本公司獨立非執行董事（「獨立非 執行董事」）田宏啟先生的辭任函。田宏啟先生因擔任獨立非執行董事職務已滿六 年，向本公司董事會請辭獨立非執行董事職務，一併辭去董事會審計委員會主任 委員、董事會關聯交易管理與消費者權益保護委員會委員的職務。根據相關法律 法規和《招商銀行股份有限公司章程》的有關規定，田宏啟先生的辭任將自本公司 股東大會選舉新任獨立非執行董事，並於國家金融監督管理總局核准新任獨立非 執行董事任職資格以填補其空缺後生效。在此之前，田宏啟先生將依據相關法律 法規及《招商銀行股份有限公司章程》的有關規定繼續履行獨立非執行董事、董事 會專門委員會相關職責。 具體情況如下： ...

Group 1: Strategy Overview - The report emphasizes that the Chinese economy is undergoing a transformation, leading to a "transformation bull market" in the stock market, with expectations for new highs in the future [1][15][16] - Key investment themes include a focus on financials, growth sectors, and certain cyclical industries, as the market adjusts and gains confidence [1][2][3] Group 2: Key Investment Recommendations - The August stock selection includes: 1. Banking: China Merchants Bank 2. Non-bank: CICC and New China Life Insurance 3. Overseas Technology: Tencent Holdings and Kuaishou-W 4. Electronics: Cambricon Technologies, Chipone Technology, and Suzhou Tianmai 5. Computing: Dingjie Smart and Anheng Information 6. Machinery: Hengli Hydraulic and Mingzhi Electric 7. Military: AVIC Shenfei 8. Coal: Shaanxi Coal and Chemical Industry 9. Light Industry: Sun Paper 10. Agriculture: Muyuan Foods 11. Transportation: SF Express 12. Pharmaceuticals: MicroPort Medical 13. Real Estate: China Resources Mixc Lifestyle 14. Utilities: Huadian International Power [1][4][12] Group 3: Banking Sector Insights - The banking sector is expected to face revenue pressure but maintain positive net profit growth, with a gradual recovery in net interest margins anticipated [22][23] - China Merchants Bank is projected to benefit from economic recovery, with an upward revision of net profit growth forecasts for 2025-2027 [25][26][27] Group 4: Non-Banking Sector Insights - The impact of the new tax on bond interest income is expected to be limited for the non-banking sector, with continued optimism for growth in this area [30][32] - CICC is forecasted to see significant profit growth driven by active trading and investment recovery, with an increase in EPS estimates for 2025-2027 [33][34] Group 5: Technology Sector Insights - Major tech companies are increasing capital expenditures significantly, particularly in AI, indicating a robust growth trajectory for the sector [43][45] - Tencent is expected to leverage AI to enhance its core business, with revenue and profit projections being adjusted upwards for 2025-2027 [45][46][47]

招商银行（SH 600036，收盘价：44.9元）8月4日晚间发布公告称，田宏启先生因担任独立非执行董事 职务已满六年，向公司董事会请辞独立非执行董事职务，一并辞去董事会审计委员会主任委员、董事会 关联交易管理与消费者权益保护委员会委员的职务。 （文章来源：每日经济新闻） ...

A 股简称：招商银行 A 股代码：600036 公告编号：2025-041 田宏启先生的离任不会导致本公司董事会成员低于法定人数。田宏启先生将 按照本公司相关管理规定做好工作交接。 招商银行股份有限公司 关于独立非执行董事辞任的公告 | 姓名 | 离任职务 | 离任时间 | 原定任期 到期日 | 离任原因 | 辞任生效后 是否继续在 | 是否存在 未履行完毕 | | --- | --- | --- | --- | --- | --- | --- | | | | | | | 本公司及其控股 子公司任职 | 的公开承诺 | | | 独立 非执行董事 | 本公司股东 大会选举新 | | | | | | | | 任独立非执 | | | | | | | 董事会 | 行董事，并 | | | | | | | 审计委员会 | 于国家金融 | | 因担任 | | | | 田宏启 | 主任委员 | 监督管理总 | 2025 年 | 独立非执行 | 否 | 否 | | | | 局核准新任 | 8 月 4 日 | 董事职务 | | | | | 董事会 | 独立非执行 | | 已满六年 | | | | | 关联交易管理 | 董事任职资 ...

A 股简称：招商银行 A 股代码：600036 公告编号：2025-042 王小青先生已确认与本公司董事会无不同意见，也无与其辞任有关的其他事 项需要提请本公司股东和债权人注意。 本公司董事会对王小青先生在任职期间为本公司作出的贡献给予高度评价并 致以衷心的感谢。 二、副行长离任对本公司的影响 王小青先生已按照本公司相关管理规定做好工作交接。 招商银行股份有限公司 关于副行长辞任的公告 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。 一、副行长离任的基本情况 招商银行股份有限公司（简称本公司）董事会收到本公司副行长王小青先生 的辞任函。王小青先生因工作原因，向本公司董事会提请辞去副行长职务。王小 青先生的辞任自 2025 年 8 月 4 日起生效，具体情况如下： | 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 本公司及其控股 | 是否存在 未履行完毕 | | --- | --- | --- | --- | --- | --- | --- | | | | | | | 子公司任职 | 的公 ...

人民财讯8月4日电，招商银行（600036）8月4日晚间公告，王小青因工作原因，向公司董事会提请辞去 副行长职务。 ...

| 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 600000 | 浦友银行 | 13.13 | 1.63% | 99.78万 | 13.22 乙 | | 601166 | 兴业银行 | 22.78 | 1.11% | 71.29万 | 16.28亿 | | 600036 | 招商银行 | 44.90 | 1.08% | 49.80万 | 22.31亿 | | 665109 | 中信银行 | 8.25 | 0.73% | 52.93万 | 4.35 Z | | 600016 | 民生银行 | 4.93 | 0.61% | 312.65万 | 15.42 乙 | | 601818 | 光大银行 | 4.06 | 0.25% | 132.31万 | 5.37亿 | | 000001 | 平安银行 | 12.30 | 0.16% | 103.27万 | 12.71亿 | | 600015 | 半夏银行 | 7.92 | -0.13% | 35.96万 | 2.86 Z | | 601916 | 浙商银行 ...

Core Viewpoint - The banking sector in A-shares has seen significant growth, with various banks and ETFs reaching new highs, reflecting a broader positive trend in global banking stocks [1][5][8]. Group 1: A-share Banking Sector Performance - Agricultural Bank of China saw its stock price rise over 2%, reaching a new high, with other banks like Shanghai Pudong Development Bank and Industrial and Commercial Bank of China also experiencing gains [1]. - The A-share banking sector has increased by 15% this year, with the招商银行AH优选ETF rising by 20% [1][3]. - Multiple bank ETFs, including 易方达 and 华夏, have shown year-to-date increases ranging from 15% to 20% [1][3]. Group 2: Global Banking Sector Trends - Global banking stocks are reaching new highs, with European banks experiencing a resurgence, marking a significant turnaround from previous market perceptions [5][6]. - The European Stoxx 600 Bank Index has surged by 29% in the first half of the year, achieving its best performance in nearly 28 years, with a total increase of 34% year-to-date [7]. - The global banking sector has seen an overall increase of 52% since the beginning of 2024, with specific regional performances showing substantial gains: 49% in the US, 65% in Europe, 53% in Japan, and 59% in China [9][10]. Group 3: Factors Influencing Banking Sector Growth - The rise in long-term interest rates and improved economic outlooks have contributed to the growth of banking stocks, particularly in Europe [7][16]. - The global macroeconomic environment, characterized by low growth and increased policy uncertainty, has led to a revaluation of banks as stable, dividend-paying assets [16]. - The banking sector's performance is attributed to the effects of global monetary easing, which has made banks more valuable as they serve as a reservoir for capital [15].

Core Insights - Since July, the A-share market has rebounded, leading to a continuous increase in financing balance, reaching 19,662.74 billion yuan as of August 1, with a net increase of 1,281.25 billion yuan in July, marking a new high in over 10 years [1][2] Financing Balance Overview - As of August 1, the A-share market's total margin balance is reported at 19,798.57 billion yuan, with the financing balance at 19,662.74 billion yuan, reflecting an increase of 1,281.25 billion yuan since July [2] - In the 24 trading days since July, financing balance increased on 21 days, accounting for nearly 90% of the time, with significant increases on July 21, 22, 28, and 29, each exceeding 150 billion yuan [3] Industry Performance - Among the 31 primary industries, 30 saw an increase in financing balance since July, with the pharmaceutical and biological industry leading with a net increase of 156.33 billion yuan, followed by electronics and power equipment [3] - The computer industry also reported a net increase of over 100 billion yuan, while only the oil and petrochemical industry experienced a net sell-off of 11.88 billion yuan [3] Stock Performance - The top ten stocks with the highest net buying amounts since July include Xinyi Technology (31.80 billion yuan), Northern Rare Earth (21.76 billion yuan), and Shenghong Technology (14.91 billion yuan), with most of these stocks showing significant price increases, particularly Feilihua, which rose nearly 60% [3] - Conversely, the top ten stocks with the highest net selling amounts include CITIC Securities (11.11 billion yuan) and Sunshine Power (7.67 billion yuan), with most of these stocks also experiencing price increases, notably Guangfa Securities, which rose over 15% [5] Margin Trading Overview - As of August 1, the margin trading balance reached 135.83 billion yuan, with an increase of 12.79 billion yuan since July, and a total of 28.72 billion shares available for margin trading [6] - The stocks with the highest margin trading balances include Kweichow Moutai (0.97 billion yuan), China Merchants Bank (0.68 billion yuan), and Ping An Insurance (0.68 billion yuan) [6]

截至08月04日09:57，银行ETF指数(512730.SH)上涨1.15%，其关联指数中证银行(399986.SZ)上涨 1.48%；主要成分股中，兴业银行上涨2.31%，浦发银行上涨3.95%，招商银行上涨1.17%，工商银行上 涨1.84%，农业银行上涨1.90%。 消息面上，早盘银行股集体走强，农业银行涨超2%续创历史新高，浦发银行、兴业银行等成分股涨幅 居前。业内分析指出，尽管净息差下行压力仍存，但银行正通过资产负债两端综合施策，推动净息差降 幅收窄乃至企稳预期升温，带动板块情绪回暖。 银行ETF指数（512730） 关联个股： 券商研究方面，开源证券指出机构资金配置银行股呈现差异化特征，驱动板块轮转效应，建议把握PB- ROE曲线演变趋势，在红利逻辑下机构增配仍有空间，可通过组合方式持股银行（《银行行业深度报 告：险资增配动因与PB~ROE估值曲线演变"新范式"》）。该机构同时基于DDM绝对估值法测算，认为 银行股股价仍具上升潜力，并维持行业"看好"评级，推荐关注零售风险可控的国有大行、安全边际较高 的股份行以及盈利弹性突出的城农商行（《银行行业点评报告：企业短贷高增与票据利率的窄幅波 动》）。 ...