Core Insights - The 2026 Bloomberg Green Finance Awards ceremony was successfully held at the MGM Hotel in Shanghai, emphasizing the importance of aligning with China's "dual carbon" goals and the evolving global business landscape [2] - The event introduced two new evaluation systems: the "Green Finance List" and the "ESG Potential Enterprises" list, alongside existing categories for "ESG Leading Enterprises" and "Outstanding ESG Projects" [2] Green Finance List - The Green Finance List focuses on the green development and innovation within China's financial sector, developed in collaboration with the Central University of Finance and Economics [3] - It aims to respond to national green finance policies and promote the green transformation of financial institutions and enterprises [3] ESG Potential Enterprises - The ESG Potential Enterprises list is based on Bloomberg's proprietary analysis of corporate data, utilizing a comprehensive ESG matrix covering four dimensions, 16 core issues, and 41 sub-issues [4] - The matrix addresses nine major themes, including climate action, energy and ecological management, product safety, employee health, and social responsibility, to identify companies with long-term value and industry leadership potential [4] Complete Lists Released - The ESG Leading Enterprises include CHINT Group Co., Ltd., Tingyi Holding Corp. (Master Kong), Trina Solar Co., Ltd., and several others [5][6][7] - Outstanding ESG Projects feature initiatives from Beijing Fuping Social Venture Capital Co., Ltd., Envision Energy, LONGi Green Energy Technology Co., Ltd., and others [7][8] Green Financial Institutions - The Green Financial Institutions recognized include Bank of China (Hong Kong) Limited, Guotai Junan International Holdings Limited, Industrial Bank Co., Ltd., and others [9][10] Innovation Drivers - The ESG Innovation Drivers include organizations such as the Alliance for Water Stewardship, Climate Bonds Initiative, and Shanghai Advanced Institute of Finance [10] ESG Advocates - The ESG Advocates list features companies like Hydrowell (Taicang) Energy Technologies Co., Ltd., Ningbo Joyson Electronics Corp., and Skyworth Group Limited [11] Future Outlook - Bloomberg Green Finance aims to collaborate with more practitioners to explore core trends and future pathways for sustainable development, accumulating cross-disciplinary wisdom and solutions [13]

Investment Rating - The report indicates a positive outlook for the banking sector, recommending long-term investments in leading city commercial banks with clear ROE advantages and large banks with low valuations and high dividend yields [2][10]. Core Insights - The banking sector experienced a slight increase at the end of the year, outperforming the CSI 300 and ChiNext indices, driven by risk appetite and institutional allocation behavior [2][10]. - The introduction of interest-bearing digital RMB is expected to enhance the promotional drive for commercial banks and attract more users [8][42]. - The banking sector is undergoing a rebalancing of its operational cycle and investment value, with a focus on establishing a risk bottom line as a foundation for valuation recovery [6][42]. Summary by Sections Banking Sector Performance - The banking index rose by 1.0% this week, outperforming the CSI 300 and ChiNext indices by 1.6% and 2.2% respectively [10]. - Major banks' H-shares generally increased, with Shanghai Pudong Development Bank leading the gains, while Xiamen Bank saw a pullback [10]. Digital RMB - Digital RMB wallets that have undergone real-name authentication will now earn interest at a rate of 0.05%, transitioning from being treated as cash to being managed like demand deposits [8][42]. - The digital RMB's interest-bearing feature is expected to boost commercial banks' promotional efforts and user attraction [42]. Credit Growth - As of the end of November 2025, credit growth rates varied across regions, with Jiangsu, Zhejiang, Sichuan, and Anhui maintaining growth rates above 8%, and Sichuan leading at 10.4% [37]. - Corporate loans remain the primary growth driver, with Jiangsu and Sichuan showing growth rates of 13.6% and 13.0% respectively [37]. Valuation and Investment Strategy - The report highlights that banking stocks are significantly undervalued from a PB-ROE perspective, particularly quality city commercial banks with leading ROE [7]. - The report recommends focusing on quality city commercial banks such as Hangzhou Bank, Nanjing Bank, and Jiangsu Bank, as well as dividend-focused assets like Bank of Communications and China Merchants Bank [7][10].

近期，江苏银行成功发行面向企业客户的挂钩"CFETS银行间碳中和债券指数"的绿色金融结构性存款产品，是全市场首款挂钩CFETS绿色债券指数系列的结 构性存款产品，并与市场同业达成该笔碳中和债券指数期权交易，这是江苏银行助力绿色低碳发展的又一举措。 本款产品挂钩标的是中国外汇交易中心编制的CFETS银行间碳中和债券指数，实际收益与存续期间的债券指数表现相挂钩。其指数样本为在银行间市场上市 交易的碳中和债券，包括但不限于绿色债券融资工具、中期票据、超短期融资券等在银行间市场上市交易的债券类型。 (编辑：钱晓睿)关键字： 一直以来，江苏银行深入践行绿色发展理念，持续探索绿色金融服务实体经济高质量发展的业务模式，充分发挥绿色金融市场产品创设与衍生品交易定价优 势，不断创新丰富绿色金融产品体系，为客户提供灵活、个性化的投资选择，聚力做好绿色金融大文章，为服务国家生态文明建设重大战略贡献金融力量。 该行此次发行的绿色结构性存款产品（嵌套期权交易），向市场传递了碳中和绿色金融理念，通过精准资金配置，引导产业与能源结构绿色低碳转型。江苏 银行打造与"绿"相挂钩的结构性存款产品，既丰富了绿色金融产品体系，也满足了境内外客户的绿 ...

一直以来，江苏银行深入践行绿色发展理念，持续探索绿色金融服务实体经济高质量发展的业务模式， 充分发挥绿色金融市场产品创设与衍生品交易定价优势，不断创新丰富绿色金融产品体系，为客户提供 灵活、个性化的投资选择，聚力做好绿色金融大文章，为服务国家生态文明建设重大战略贡献金融力 量。 该行此次发行的绿色结构性存款产品(嵌套期权交易)，向市场传递了碳中和绿色金融理念，通过精准资 金配置，引导产业与能源结构绿色低碳转型。江苏银行打造与"绿"相挂钩的结构性存款产品，既丰富了 绿色金融产品体系，也满足了境内外客户的绿色投资需求，进一步丰富了期权交易市场生态，推动多元 化发展。 江苏银行不断完善绿色金融专业化经营和环境与社会风险管理体系，积极推进绿色金融产品创新，目前 已建立涵盖绿色债券、绿色零售、绿色租赁、绿色理财、绿色贷款等多个业务板块的绿色金融集团化产 品体系。截至2025年9月末，绿色投融资规模突破7500亿元，较2024年末增速36.9%。 未来，江苏银行将持续聚焦绿色金融领域，深耕绿色金融业务沃土，创新绿色金融产品，以更丰富的绿 色金融结构性产品体系、更精准的资金投放方向、更完善的综合金融服务方案以及更高效的经营 ...

Market Overview - The city commercial bank sector increased by 0.26% on January 5, with Hangzhou Bank leading the gains [1] - The Shanghai Composite Index closed at 4023.42, up by 1.38%, while the Shenzhen Component Index closed at 13828.63, up by 2.24% [1] Individual Bank Performance - Hangzhou Bank (600926) closed at 15.45, with a rise of 1.11% and a trading volume of 580,400 shares, amounting to a transaction value of 893 million yuan [1] - Chengdu Bank (601838) closed at 16.24, up by 0.74%, with a trading volume of 278,200 shares and a transaction value of 450 million yuan [1] - Beijing Bank (601169) closed at 5.52, increasing by 0.73%, with a trading volume of 1,428,800 shares and a transaction value of 787 million yuan [1] - Guizhou Bank (601997) closed at 5.91, up by 0.68%, with a trading volume of 255,700 shares and a transaction value of 151 million yuan [1] - Qindao Bank (002948) closed at 4.51, increasing by 0.67%, with a trading volume of 419,600 shares and a transaction value of 188 million yuan [1] - Jiangsu Bank (616009) closed at 10.46, up by 0.58%, with a trading volume of 1,271,800 shares and a transaction value of 1.331 billion yuan [1] - Xian Bank (600928) closed at 3.72, increasing by 0.54%, with a trading volume of 198,300 shares and a transaction value of 73.3 million yuan [1] - Zhengzhou Bank (002936) closed at 1.94, up by 0.52%, with a trading volume of 723,100 shares and a transaction value of 140 million yuan [1] - Lanzhou Bank (001227) closed at 2.33, increasing by 0.43%, with a trading volume of 290,200 shares and a transaction value of 67.5 million yuan [1] - Ningbo Bank (002142) closed at 28.15, up by 0.21%, with a trading volume of 271,700 shares and a transaction value of 764 million yuan [1] Capital Flow Analysis - The city commercial bank sector saw a net inflow of 380 million yuan from main funds, while retail funds experienced a net outflow of 134 million yuan [2] - The main funds' net inflow and outflow for individual banks include: - Jiangsu Bank (600919) had a net inflow of 10.4 million yuan, with a 7.78% share of main funds [3] - Shanghai Bank (601229) had a net inflow of 87.04 million yuan, with a 13.64% share of main funds [3] - Hangzhou Bank (600926) had a net inflow of 79.04 million yuan, with an 8.86% share of main funds [3] - Nanjing Bank (600000) had a net inflow of 67.86 million yuan, with a 9.68% share of main funds [3] - Ningbo Bank (002142) had a net inflow of 58.14 million yuan, with a 7.61% share of main funds [3] - Qilu Bank (601665) had a net inflow of 57.72 million yuan, with a 14.60% share of main funds [3] - Qingdao Bank (002948) had a net inflow of 22.18 million yuan, with an 11.82% share of main funds [3] - Suzhou Bank (002966) had a net inflow of 6.29 million yuan, with a 2.71% share of main funds [3] - Xiamen Bank (601187) had a net inflow of 520,450 yuan, with a 5.25% share of main funds [3] - Xian Bank (600928) had a net inflow of 287,550 yuan, with a 3.92% share of main funds [3]

格隆汇1月4日丨江苏银行(600919.SH)公布，经董事会审议，公司2025年中期利润分配方案如下：拟以 实施分红派息股权登记日登记的总股本为基数，向股权登记日登记在册的全体普通股股东派发2025年度 中期现金股利，每10股派送人民币3.309元（含税）。以公司2025年6月30日普通股总股本18,351,324,463 股计算，合计分配现金股利人民币60.72亿元（含税），占2025年半年度合并报表口径下归属于母公司 股东净利润的30%。 ...

1月4日金融一线消息，江苏银行今日发布2025年度中期利润分配方案公告。公告指出，经董事会审议， 公司 2025 年中期利润分配方案如下：拟以实施分红派息股权登记日登记的总股本为基数，向股权登记 日登记在册的全体普通股股东派发 2025 年度中期现金股利，每 10 股派送人民币 3.309 元（含税）。以 公司 2025 年 6 月 30日普通股总股本 18，351，324，463 股计算，合计分配现金股利人民币60.72 亿元 （含税），占 2025 年半年度合并报表口径下归属于母公司股东净利润的 30%。 责任编辑：曹睿潼 1月4日金融一线消息，江苏银行今日发布2025年度中期利润分配方案公告。公告指出，经董事会审议， 公司 2025 年中期利润分配方案如下：拟以实施分红派息股权登记日登记的总股本为基数，向股权登记 日登记在册的全体普通股股东派发 2025 年度中期现金股利，每 10 股派送人民币 3.309 元（含税）。以 公司 2025 年 6 月 30日普通股总股本 18，351，324，463 股计算，合计分配现金股利人民币60.72 亿元 （含税），占 2025 年半年度合并报表口径下归属于母公 ...

Market Overview - The market is expected to experience style differentiation as it approaches the Spring Festival, maintaining a structural trend under narrow fluctuations[4] - Key focus areas include the release of December and annual economic data in late January and a concentrated period of earnings forecasts[4] Investment Strategy - The strategy emphasizes three main lines: 1. High-growth and high-elasticity sectors, including AI hardware (e.g., optical modules), energy storage, lithium batteries, and non-ferrous metals[4] 2. Market hot tracks such as commercial aerospace, robotics, and cultural tourism[4] 3. Low-position large financial sectors, focusing on high-certainty performance in brokerage, insurance, and banks with dividend expectations[4] Recommended Stocks - **Metals**: Yun Aluminum Co., Ltd. (000807.SZ) with a projected EPS of 1.87 in 2025 and a PE of 17.6[28] - **Chemicals**: Yara International (000893.SZ) with a projected EPS of 2.06 in 2025 and a PE of 23.3[28] - **New Energy**: Slin Smart Drive (301550.SZ) with a projected EPS of 1.32 in 2025 and a PE of 105.0[28] - **Machinery**: Hengli Hydraulic (601100.SH) with a projected EPS of 2.19 in 2025 and a PE of 50.2[28] - **Aerospace**: AVIC Xi'an Aircraft Industry Group (000768.SZ) with a projected EPS of 0.42 in 2025 and a PE of 60.3[28] - **Banking**: Jiangsu Bank (600919.SH) with a projected EPS of 1.76 in 2025 and a PE of 5.9[28] - **Non-Banking**: New China Life Insurance (601336.SH) with a projected EPS of 11.82 in 2025 and a PE of 5.9[28] - **Social Services**: Jin Jiang International (600754.SH) with a projected EPS of 0.89 in 2025 and a PE of 28.3[28] - **Electronics**: Dongshan Precision (002384.SZ) with a projected EPS of 0.77 in 2025 and a PE of 109.8[28] - **Telecommunications**: Zhongji Xuchuang (300308.SZ) with a projected EPS of 9.47 in 2025 and a PE of 64.4[28] Risk Factors - Economic recovery may fall short of expectations, leading to slow growth or stagnation[34] - Significant changes in individual stock fundamentals could adversely affect performance[34]

证券代码：600919 证券简称：江苏银行 公告编号：2026-001 优先股代码：360026 优先股简称：苏银优 1 江苏银行股份有限公司董事会决议公告 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 担个别及连带责任。 表决结果：同意 15 票，反对 0 票，弃权 0 票。 详 情 请 查 阅 公 司 同 日 刊 登 在 上 海 证 券 交 易 所 网 站 （www.sse.com.cn）的江苏银行股份有限公司 2025 年度中期利润分 配方案公告。 特此公告。 江苏银行股份有限公司（以下简称"公司"）第六届董事会第二 十五次会议通知于 2025 年 12 月 24 日以电子邮件方式发出，会议于 2026 年 1 月 4 日在公司以现场和视频方式召开。本次会议应参与表 决董事 15 名，实际参与表决董事 15 名，高级管理人员列席会议。会 议符合《公司法》等法律法规及公司章程的有关规定，表决所形成的 决议合法、有效。 会议由公司董事长葛仁余先生主持，审议通过以下议案： 关于江苏银行股份有限公司 2025 年度中期利润分配方案的议案 ...

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 担个别及连带责任。 重要内容提示 证券代码：600919 证券简称：江苏银行 公告编号：2026-002 优先股代码：360026 优先股简称：苏银优 1 江苏银行股份有限公司 2025 年度中期利润分配方案公告 1、2025 年 5 月 23 日，公司 2024 年年度股东大会审议通过《关 于提请江苏银行股份有限公司股东大会授权董事会决定 2025 年中期 利润分配的议案》。 ●分配比例：每 10 股派人民币 3.309 元（含税） ●本次利润分配以实施分红派息股权登记日登记的总股本为基 数，具体日期将在分红派息实施公告中明确。 ●公司 2024 年年度股东大会已审议通过中期利润分配相关事宜， 本次利润分配方案经董事会审议通过后实施。 一、利润分配方案内容 经德勤华永会计师事务所（特殊普通合伙）审阅，江苏银行股份 有限公司（以下简称"公司"）2025 年半年度归属于母公司股东的 净利润为人民币 202.38 亿元。经董事会审议，公司 2025 年中期利润 分配方案如下：拟以实施分红派息股权 ...