特此公告。 江苏银行股份有限公司董事会 2025 年 3 月 20 日 - 1 - 江苏银行股份有限公司 关于高级管理人员辞任的公告 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 担个别及连带责任。 江苏银行股份有限公司（以下简称"本行"）董事会近日收到周 爱国先生提交的辞呈。因工作调动，周爱国先生辞去本行副行长职务， 根据有关规定，周爱国先生的辞呈自送达本行董事会时生效。 周爱国先生在本行任职期间，恪尽职守，勤勉尽责，锐意进取， 高效执行本行党委会和董事会决议，扎实推进战略规划实施，积极做 好金融"五篇大文章"，为本行高质量发展做出了积极贡献。本行董 事会对周爱国先生在任职期间对本行所做出的贡献表示衷心感谢！ 证券代码：600919 证券简称：江苏银行 公告编号：2025-008 优先股代码：360026 优先股简称：苏银优 1 ...

证券代码：600919 证券简称：江苏银行 公告编号：2025-007 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 主要经营情况公告 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。 截至 2025 年 3 月 16 日，江苏银行本行口径各项存款余额 23355 亿元，比上月增加 240 亿元，比年初增加 2210 亿元；各项贷款余额 20323 亿元，比上月增加 107 亿元，比年初增加 938 亿元。今年以来， 本行持续保持稳健良好的发展态势，主要经营指标跑赢大势，资产规 模良性增长，经营效益稳健提升，资产质量保持平稳。 2025 年 3 月 17 日 本公告所载主要财务数据为初步核算数据，未经审计，仅供投资 者参考，不能以此推算本行一季度和全年业绩情况，提请投资者注意 投资风险。 - 1 - 特此公告。 江苏银行股份有限公司董事会 ...

Core Viewpoint - Jiangsu Bank's recent auction of non-performing loans at a significantly reduced starting price has attracted market attention, indicating a strategic move to enhance current earnings and long-term development [1][2][3]. Group 1: Non-Performing Loan Auction - Jiangsu Bank has listed four batches of personal non-performing loans for transfer, with total unpaid principal and interest exceeding 7 billion yuan, involving 330,000 borrowers [1][2]. - The starting price for these non-performing loans is approximately 347 million yuan, which is substantially lower than the total unpaid amount, raising concerns in the market [1][3]. - The bank has stated that this practice is a common industry approach and is compliant with regulations, aiming to boost current earnings and positively impact long-term growth [2][3]. Group 2: Financial Performance - For the year 2024, Jiangsu Bank reported operating income of 80.815 billion yuan, a year-on-year increase of 8.78%, and a net profit attributable to shareholders of 31.843 billion yuan, up 10.76% [4]. - As of the end of 2024, the bank's total assets reached 3.9518 trillion yuan, a growth of 16.12% compared to the previous year, with total deposits and loans also showing significant increases [4]. - The non-performing loan ratio stood at 0.89%, marking a historical low, with a decrease of 0.02 percentage points from the previous year [4]. Group 3: AI Deployment and Future Strategy - Jiangsu Bank has actively integrated into the digital economy, deploying AI technologies to enhance financial services, including the use of language models for contract inspection and automated valuation [5]. - The bank plans to continue expanding the application of AI technologies, aiming for process optimization and efficiency improvements to support business development [5].

证券代码：600919 证券简称：江苏银行 公告编号：2025-006 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。 江苏银行股份有限公司（以下简称"公司"）第六届董事会第十 六次会议通知于 2025 年 3 月 4 日以电子邮件方式发出，会议于 2025 年 3 月 14 日以书面传签方式召开。本次会议应参与表决董事 15 名， 实际参与表决董事 15 名。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。 会议审议通过以下议案： 一、关于江苏银行股份有限公司 2024 年度主要股东履职履约情 况报告的议案 表决结果：同意 15 票，反对 0 票，弃权 0 票。 二、关于江苏银行股份有限公司 2024 年度主要股东资本补充能 力情况报告的议案 表决结果：同意 15 票，反对 0 票，弃权 0 票。 三、关于江苏银行股份有限公司 2024 年度大股东评估情况报告 的议案 四、关于江苏银行股份有限公司 2 ...

Core Viewpoint - Banks are intensifying their promotion of consumer loans by lowering interest rates and increasing loan limits to attract borrowers [1] Group 1: Loan Promotion Strategies - Jiangsu Bank offers a limited-time consumer loan promotion with interest rates as low as 2.58% and online application limits up to 200,000 yuan, while in-person applications can reach up to 1 million yuan [1] - Several banks, including China Merchants Bank, Jiangsu Bank, Ningbo Bank, and Beijing Rural Commercial Bank, are enhancing their consumer loan offerings through various strategies such as lowering rates, increasing limits, issuing interest rate coupons, diversifying usage scenarios, and speeding up loan disbursement [1] Group 2: Industry Insights - Industry experts believe that banks are controlling credit risk, stabilizing retail loan non-performing rates, and optimizing retail loan structures by strictly managing the entry thresholds for low-interest loans [1] - The limited low-interest loan resources are being allocated to high-quality customers, which enhances banks' competitiveness in the battle for premium clientele [1]

Group 1 - Jiangsu Provincial Organization Department announced the pre-appointment public notice for Zhou Aiguo, current Vice President and Party Committee Member of Jiangsu Bank, who is proposed to take the position of the head of the provincial management leadership team enterprise [1] - Zhou Aiguo, aged 53, has a long tenure at China Construction Bank Jiangsu Branch before serving as the Business Director and General Manager of Corporate Banking Department and General Manager of Green Finance Department at Jiangsu Bank [1] - Zhou Aiguo was appointed as Vice President of Jiangsu Bank in March 2023 [1]

Core Viewpoint - Jiangsu Bank has successfully launched the first offline "one-time handling" service for the housing provident fund combination loan in Xuzhou, enhancing customer experience and streamlining the loan process [1][3]. Group 1: Loan Product Innovation - The combination loan product, which integrates housing provident fund loans and commercial personal housing loans, has gained popularity among homebuyers [1][3]. - Jiangsu Bank's "e-mortgage" product facilitates a collaborative pilot with the Xuzhou Housing Provident Fund Management Center, significantly simplifying the loan process [1][3]. Group 2: Efficiency and Customer Experience - The entire loan application to disbursement process now takes only half a day, greatly improving customer service efficiency and reducing the need for customers to visit the bank [1][3]. - The initiative aligns with national policies aimed at enhancing service efficiency and improving public satisfaction [1][3]. Group 3: Comprehensive Financial Services - Jiangsu Bank is committed to providing a one-stop personal credit service, offering a range of products including consumer loans, business loans, and credit cards [2][4]. - The bank has launched a promotional campaign titled "Beautiful Main Stage Starts with You," providing various benefits to customers [2][4]. Group 4: Commitment to Community Needs - Jiangsu Bank aims to address the urgent needs of the public by continuously exploring innovative service models and optimizing service processes [2][4]. - The bank's leadership emphasizes enhancing the core competitiveness of personal credit products and services to improve the quality of life for the community [2][4].

Investment Rating - The investment rating for the company is "Buy" and is maintained [5]. Core Insights - The company reported an annual revenue growth of 8.8% for 2024, with a significant quarterly growth of 18.5% in Q4. The net profit attributable to shareholders increased by 10.8% year-on-year, with a quarterly growth of 16.5% in Q4. The high growth in Q4 is attributed to a low base in Q4 2023 and expected gains from bond market investment income, alongside an anticipated narrowing of net interest margin decline and improved deposit costs [3][4][8]. - The year-end non-performing loan ratio remained stable at 0.89%, while the provision coverage ratio decreased by 1 percentage point to 350%. The non-performing loan net generation rate is expected to remain relatively stable in Q4 [3][4][8]. Summary by Sections Performance - The company's revenue accelerated in 2024, with a notable Q4 revenue growth of 18.5%. The annual revenue growth was supported by a low base effect and increased investment income from the bond market. The net profit growth remained stable compared to the previous quarter, with a significant increase in other comprehensive income [8][22]. Scale - Total assets grew by 16.1% year-on-year, with loans increasing by 10.7% and deposits by 12.8% compared to the beginning of the year. The retail loan demand is expected to remain weak, leading to tightened risk controls on consumer and business loans [8][22]. Interest Margin - The net interest margin is expected to narrow in Q4, with a significant improvement in funding costs. The estimated net interest margin for the first three quarters decreased by 2 basis points to 1.74%, while funding costs improved due to declining deposit costs [8][22]. Asset Quality - The asset quality is expected to remain stable, with the non-performing loan generation rate anticipated to stabilize in Q4. The retail loan non-performing rate increased slightly, but the overall asset quality for corporate loans is expected to remain strong [8][22]. Investment Recommendation - The company is expected to maintain stable growth in 2025, with a clear strategic plan focusing on developed economic regions. The current valuation is at 0.69 times the 2025 price-to-book ratio, indicating undervaluation, with a projected dividend yield of 5.6%, the highest among leading city commercial banks [8][22].

Investment Rating - The investment rating for Jiangsu Bank is "Buy" and is maintained [8] Core Views - Jiangsu Bank's 2024 revenue and profit growth rates have rebounded compared to the first three quarters, outperforming expectations [2][4] - The bank's net profit attributable to shareholders is expected to grow by 10.8% year-on-year in 2024, with revenue growth projected at 8.8% [3][4] - The bank's asset quality remains stable, with a non-performing loan ratio of 0.89% at the end of 2024, unchanged from the previous quarter [5] Summary by Sections Performance Overview - Jiangsu Bank's net profit attributable to shareholders for 2024 is projected to increase by 10.8%, an improvement of 0.7 percentage points from the previous three quarters [3] - Revenue is expected to grow by 8.8%, with an increase of 2.6 percentage points compared to the previous three quarters [3][4] Growth Drivers - The growth in net interest income and non-interest income is expected to drive the overall performance, aided by a favorable base effect and improved interest costs [4] - The bank is anticipated to maintain strong loan growth due to resilient credit demand in Jiangsu province [4][5] Asset Quality - The non-performing loan ratio is stable at 0.89%, and the provision coverage ratio is at 350%, down by 1 percentage point from the previous quarter [5] Financial Forecasts - Jiangsu Bank's net profit is forecasted to grow by 10.8% in 2024, followed by 8.1% in 2025 and 8.2% in 2026 [6] - The bank's book value per share (BPS) is projected to be 12.48, 14.05, and 15.44 for 2024, 2025, and 2026 respectively [6] Valuation - The current price corresponds to a price-to-book (PB) ratio of 0.77 for 2024, with a target price set at 14.05 per share, indicating a potential upside of 47% [6]

Investment Rating - The report maintains a "Buy" rating for Jiangsu Bank [1] Core Views - Jiangsu Bank's revenue and profit have accelerated, with a reported revenue of 80.8 billion yuan for 2024, representing an 8.8% year-on-year increase, and a net profit attributable to shareholders of 31.8 billion yuan, up 10.8% year-on-year [4][6] - The bank's asset quality remains stable, with a non-performing loan (NPL) ratio holding steady at 0.89% in Q4 2024, and a provision coverage ratio of 350% [6][7] - The report highlights a focus on optimizing loan structures and improving cost efficiency, with a projected loan growth of 10.7% for 2024 [6][7] Financial Data and Profit Forecast - Revenue and profit forecasts for Jiangsu Bank are as follows: - Total revenue for 2024 is estimated at 80.8 billion yuan, with a growth rate of 8.8% - Net profit for 2024 is projected at 31.8 billion yuan, with a growth rate of 10.8% - The bank's earnings per share (EPS) is expected to be 1.65 yuan in 2024, increasing to 1.77 yuan in 2025 and 1.91 yuan in 2026 [5][9] - The report anticipates a gradual increase in total loans, reaching approximately 2.1 trillion yuan in 2024, with a continued upward trend in deposits [9][11] Market Data - As of January 23, 2025, Jiangsu Bank's closing price is 9.59 yuan, with a market capitalization of approximately 175.99 billion yuan [1] - The bank's price-to-earnings (P/E) ratio is projected at 5.81 for 2024, and the price-to-book (P/B) ratio is expected to be 0.75 [11]