Core Viewpoint - The Zhejiang Regulatory Bureau of the National Financial Supervision Administration has approved Hangzhou Bank Co., Ltd. to issue capital instruments not exceeding 40 billion RMB [1] Group 1 - Hangzhou Bank is authorized to issue capital instruments within a limit of 40 billion RMB [1] - The bank must strictly comply with the "Commercial Bank Capital Management Measures" and other relevant regulations during the issuance and management of these capital instruments [1] - The bank has the autonomy to decide on the specific types of instruments, issuance timing, batches, and scale within the approved limit, and must complete the issuance within 24 months of approval [1]

Core Insights - Hangzhou Bank reported a total operating income of 28.88 billion yuan for the first three quarters of 2025, representing a year-on-year increase of 1.35% [1] - The net profit attributable to shareholders reached 15.88 billion yuan, up 14.53% compared to the same period last year [1] - The bank's total assets amounted to 2,295.42 billion yuan, an increase of 8.67% from the end of the previous year [1] Financial Performance - Net interest income was 20.09 billion yuan, reflecting a growth of 9.96% year-on-year [1] - Net fee and commission income increased by 12.65% to 3.30 billion yuan [1] - Basic earnings per share were 2.31 yuan, a rise of 0.87% from the previous year [1] Asset and Liability Overview - Total loans reached 1,025.57 billion yuan, growing by 9.39% from the end of last year [1] - Total liabilities were 2,132.47 billion yuan, up 7.90% [1] - Total deposits increased by 5.97% to 1,348.58 billion yuan [1] Wealth Management Products - The balance of various wealth management products from the wholly-owned subsidiary Hangyin Wealth Management was 557.46 billion yuan, marking a significant increase of 27.10% [1] Asset Quality - The non-performing loan ratio stood at 0.76%, unchanged from the end of the previous year [2] - The ratio of overdue loans to non-performing loans was 81.64% [2] - The provision coverage ratio was 513.64%, indicating a strong risk mitigation capacity [2]

Investment Rating - The report maintains an "Overweight" rating for the company [7]. Core Views - The company demonstrated resilience in operations with a year-on-year increase in net profit attributable to shareholders by 14.5% and revenue by 1.4% for the first nine months of 2025 [1]. - The bank's asset quality remains strong, with a non-performing loan ratio of 0.76% and a provision coverage ratio of 514% as of Q3 [4]. - The report anticipates a gradual recovery in the economy, projecting net profits of 194 billion, 218 billion, and 243 billion RMB for 2025 to 2027, respectively [5]. Summary by Sections Financial Performance - For the first nine months of 2025, the company's net profit, revenue, and pre-provision operating profit (PPOP) increased by 14.5%, 1.4%, and 1.6% year-on-year, respectively [1]. - The annualized return on assets (ROA) and return on equity (ROE) were stable at 0.96% and 16.91%, respectively [1]. Credit and Asset Quality - As of Q3 2025, total assets, loans, and deposits grew by 13.8%, 12.7%, and 14.5%, respectively, compared to the previous quarter [2]. - The bank's non-performing loan ratio remained stable at 0.76%, with a slight decrease in provisions but still at a comfortable level [4]. Wealth Management and Non-Interest Income - The bank's net fee and commission income increased by 12.6% year-on-year, driven by strong performance in wealth management [3]. - However, other non-interest income saw a decline of 24.7% year-on-year due to market fluctuations affecting investment income [3]. Profitability and Valuation - The report forecasts net profits of 19.41 billion RMB for 2025, with a projected price-to-book (PB) ratio of 0.74 times for 2026 [5]. - The target price is set at 21.32 RMB, reflecting a PB of 1.0 times [5].

Core Viewpoint - The "Yiyuan Home" cultural project initiated by Hangzhou Bank's Beijing Pinggu Branch aims to enhance community engagement and provide financial education to the elderly, promoting respect and care for seniors during the Double Ninth Festival [1][3]. Group 1: Project Overview - The "Yiyuan Home" cultural project integrates cultural resources and organizes activities to foster community cultural sharing and cooperation [3]. - Hangzhou Bank's Beijing Pinggu Branch actively participates in this project, transforming temporary activities into a sustainable mechanism [3]. Group 2: Financial Education Initiatives - The bank set up a comprehensive service point during the event, delivering essential financial knowledge in an easily digestible format to the elderly [3]. - Staff used local dialect and humor to engage with seniors, emphasizing the importance of not transferring money to avoid scams [5]. Group 3: Personalized Support - After the presentation, bank staff provided one-on-one consultations for seniors with deeper financial needs, explaining interest rate differences for various deposit terms [6]. - Anti-fraud specialists distributed anti-fraud brochures and assisted seniors in downloading the national anti-fraud app [6]. Group 4: Future Outlook - The collaboration between Hangzhou Bank and the community is seen as a starting point for a long-term partnership, aiming to enhance the quality of life for the elderly [9].

Core Viewpoint - Hangzhou Bank demonstrated resilience in its operations, achieving steady growth in net profit and revenue despite industry challenges, showcasing its robust management and operational strength [2][3]. Financial Performance - For the first three quarters of 2025, Hangzhou Bank reported a net profit of 15.885 billion yuan, a year-on-year increase of 14.53%, indicating strong profitability [2]. - The bank's net interest income reached 20.093 billion yuan, up 9.96% from the previous year, serving as a key driver for performance [2]. - Total operating revenue was 28.880 billion yuan, reflecting a modest growth of 1.35%, primarily impacted by fair value changes due to market interest rate fluctuations [2]. Risk Management and Asset Quality - As of the end of Q3 2025, Hangzhou Bank's total assets amounted to 229.5424 billion yuan, an increase of 8.67% year-on-year, with total loans at 102.5573 billion yuan, up 9.39% [3]. - The non-performing loan (NPL) ratio remained stable at 0.76%, maintaining a leading position in the industry [3]. - The bank's provision coverage ratio stood at 513.64%, indicating strong risk mitigation capabilities [3]. Shareholder Returns - Hangzhou Bank is committed to sharing its growth with shareholders, proposing a cash dividend of 3.80 yuan per 10 shares for the 2025 interim period, totaling 2.755 billion yuan, a year-on-year increase of over 24% [5]. - Cumulatively, the bank's cash dividends to ordinary shareholders since its listing will exceed 21.8 billion yuan, reflecting its commitment to investor returns [5].

Core Viewpoint - Hangzhou Bank reported a steady performance in the first three quarters of 2025, with net profit and revenue increasing by 14.53% and 1.35% year-on-year, respectively, despite industry challenges [1][2] Financial Performance - The bank achieved a net profit of 15.885 billion yuan, reflecting a 14.53% year-on-year growth, indicating strong profitability [1] - Interest income reached 20.093 billion yuan, up 9.96% from the previous year, serving as a key driver for performance [1] - Total operating revenue was 28.880 billion yuan, with a modest growth of 1.35% year-on-year [1] - Net fee and commission income rose to 3.298 billion yuan, a 12.65% increase, supported by diversified middle-income business [1] Asset Quality and Risk Management - As of the end of Q3 2025, the bank's total assets amounted to 229.5424 billion yuan, an 8.67% increase from the previous year [2] - Total loans reached 102.5573 billion yuan, growing by 9.39%, with loans constituting 44.68% of total assets [2] - The non-performing loan (NPL) ratio remained stable at 0.76%, reflecting strong asset quality [2] - The provision coverage ratio stood at 513.64%, indicating robust risk mitigation capabilities [2] Shareholder Returns - The bank proposed a cash dividend of 3.80 yuan per 10 shares for the 2025 interim period, totaling 2.755 billion yuan, a year-on-year increase of over 24% [3] - Cumulative cash dividends since listing will exceed 21.8 billion yuan, demonstrating a commitment to shareholder returns [3] - The bank aims to enhance financial service quality and create long-term value for investors and society [3]

Financial Performance - Total revenue for Q3 2025 was RMB 8,786,802, a decrease of 4.02% compared to the same period last year[6]. - Net profit attributable to shareholders was RMB 4,222,587, an increase of 9.01% year-on-year[6]. - Basic earnings per share for the quarter was RMB 0.58, down 10.77% from the previous year[6]. - For the first three quarters of 2025, the company achieved operating income of RMB 28.88 billion, a year-on-year increase of 1.35%, with net interest income growing by 9.96% to RMB 20.09 billion[32]. - The net profit attributable to shareholders reached RMB 15.88 billion, reflecting a year-on-year growth of 14.53%[32]. - Total operating income for the first nine months of 2025 reached RMB 28,880,010 thousand, a slight increase of 1.36% compared to RMB 28,494,311 thousand in the same period of 2024[53]. - The net profit attributable to shareholders of the parent company for the first nine months of 2025 was RMB 15,884,883 thousand, representing a year-on-year increase of 14.59% from RMB 13,869,912 thousand[53]. - The comprehensive income total for the first nine months of 2025 was RMB 12,939,706 thousand, compared to RMB 14,767,261 thousand in the previous year, indicating a decrease of 12.36%[56]. Assets and Liabilities - Total assets at the end of the reporting period reached RMB 2,295,423,508, an increase of 8.67% compared to the end of the previous year[6]. - Total assets as of September 30, 2025, amounted to RMB 2,282,036,300 thousand, compared to RMB 2,102,785,869 thousand at the end of 2024, reflecting a growth of 8.55%[51]. - Total liabilities amounted to RMB 2,132,473,320 thousand as of September 30, 2025, compared to RMB 1,976,307,861 thousand at the end of 2024[19]. - The total liabilities as of September 30, 2025, were RMB 2,123,635,699 thousand, up from RMB 1,970,650,829 thousand at the end of 2024, marking an increase of 7.76%[51]. - The loan balance stood at RMB 1,025.57 billion, up 9.39% year-on-year, representing 44.68% of total assets[32]. - The bank's loan and advance issuance reached RMB 987,002,796 thousand, an increase from RMB 900,326,175 thousand at the end of 2024[44]. Shareholder Information - The total number of shareholders was 67,570 at the end of the reporting period[12]. - The largest shareholder, Hangzhou Financial Investment Group, holds 1,202,275,119 shares, representing 16.59% of total shares[13]. - Net assets attributable to shareholders increased by 19.77% to RMB 162,950,188 compared to the previous year[6]. - The total equity reached RMB 162,950,188 thousand as of September 30, 2025, up from RMB 136,047,999 thousand at the end of 2024, reflecting a growth of approximately 19.73%[46]. Cash Flow - Cash flow from operating activities for the first nine months of 2025 was RMB 82,745,697, an increase of 311.71% compared to the same period last year[11]. - Net cash flow from operating activities for the first nine months of 2025 was RMB 82,745,697 thousand, a significant increase from RMB 20,098,008 thousand in the same period of 2024[62]. - Cash inflow from investment activities totaled RMB 847,205,974 thousand, compared to RMB 531,640,130 thousand in the previous year, marking a 59.4% increase[64]. - Cash outflow from investment activities was RMB 948,915,804 thousand, up from RMB 580,747,851 thousand, resulting in a net cash flow from investment activities of (RMB 101,709,830) thousand[64]. - Total cash inflow from financing activities was RMB 337,365,090 thousand, an increase of 11.7% from RMB 302,130,218 thousand in the prior year[68]. - Net cash flow from financing activities decreased to RMB 26,751,933 thousand from RMB 32,713,212 thousand year-over-year[64]. - The ending balance of cash and cash equivalents was RMB 117,313,211 thousand, up from RMB 59,623,749 thousand in the same period last year[64]. Capital and Ratios - The weighted average return on equity was 3.20%, a decrease of 0.51 percentage points year-on-year[6]. - The capital adequacy ratio improved to 14.43% from 13.80% year-over-year[22]. - Core Tier 1 capital adequacy ratio increased to 9.64% from 8.85% in the previous year[22]. - The average return on total assets was 0.72%, consistent with the previous year[20]. - The comprehensive diluted return on equity decreased to 11.55% from 12.85% year-on-year[20]. - The cost-to-income ratio improved slightly to 27.09% from 27.30% in the previous year[20]. Loan and Investment Activities - The non-performing loan ratio remained stable at 0.76% as of September 30, 2025[20]. - The balance of green loans reached RMB 1,104.86 billion, with a year-to-date increase of 18.45%[35]. - The small and micro finance loan balance was RMB 157.68 billion, with a year-on-year increase of 37.77%[36]. - The bank's credit impairment losses decreased significantly to RMB 2,819,862 thousand, down 38.49% from RMB 4,583,025 thousand in the same period last year[53]. - The bank's investment income rose to RMB 7,307,332 thousand, an increase of 22.19% from RMB 5,974,823 thousand year-on-year[53]. Awards and Recognition - The bank's intelligent service product "Hang@Bao" won the "2025 Annual Bank AI Original Product Innovation Award" at the China Banking Digital Summit[38].

Core Viewpoint - Hangzhou Bank has demonstrated a strong commitment to shareholder returns through its mid-term dividend plan, reflecting solid operational performance and a focus on sustainable growth [1][5]. Financial Performance - For the first three quarters of 2025, Hangzhou Bank reported an operating income of 28.88 billion yuan, a year-on-year increase of 1.35%, with net interest income rising by 9.96% to 20.09 billion yuan and net commission income increasing by 12.65% to 3.30 billion yuan [3]. - The net profit attributable to shareholders reached 15.88 billion yuan, representing a year-on-year growth of 14.53% [3]. Asset and Liability Management - As of the end of Q3 2025, the total assets of Hangzhou Bank amounted to 2.29 trillion yuan, an increase of 8.67% from the end of the previous year, with total loans at 1.03 trillion yuan, up 9.39% [4]. - The loan-to-asset ratio improved to 44.68%, reflecting a focus on core business and efficiency [4]. - Total liabilities reached 2.13 trillion yuan, growing by 7.90%, with total deposits at 1.35 trillion yuan, a year-on-year increase of 5.97% [4]. Asset Quality - The non-performing loan ratio remained stable at 0.76%, significantly lower than the industry average, indicating strong asset quality [4]. - The bank's provision coverage ratio stood at 513.64%, providing a robust buffer against potential risks [4]. Dividend Distribution - The mid-term dividend plan includes a cash dividend of 0.38 yuan per share, reflecting a 2.70% increase from the previous year's 0.37 yuan per share, despite a 20.83% increase in the total number of shares [2]. - The total cash dividend payout is estimated at 2.755 billion yuan, a 24.10% increase compared to the previous year, showcasing the bank's strong profit distribution capability [2]. Commitment to Shareholder Returns - Hangzhou Bank has consistently prioritized shareholder returns, with cash dividends increasing significantly since its listing, demonstrating a commitment to rewarding investors [5]. - The bank's focus on high-quality development and risk management is expected to support sustainable growth and continued shareholder value creation in the future [5].

一、审议通过《杭州银行股份有限公司2025年第三季度报告》 监事会认为公司2025年第三季度报告的编制和审议程序符合法 律、行政法规和监管规定，报告的内容真实、准确、完整地反映了 公司的实际情况。 表决结果：同意7票，反对0票，弃权0票。 杭州银行股份有限公司（以下简称"公司"）第八届监事会第十 六次会议于 2025 年 10 月 17 日以电子邮件及书面形式发出会议通知， 并于 2025 年 10 月 29 日在杭州市上城区解放东路 168 号杭银大厦 4 楼会议室以现场方式召开，王立雄监事长主持了会议。本次会议应 出席监事 7 名，现场出席监事 7 名。本次会议的召开符合《中华人 民共和国公司法》等法律法规及《杭州银行股份有限公司章程》的 有关规定，会议所形成的决议合法、有效。 会议审议并通过决议如下： 证券代码：600926 证券简称：杭州银行 公告编号：2025-079 优先股代码：360027 优先股简称：杭银优 1 杭州银行股份有限公司 第八届监事会第十六次会议决议公告 本公司监事会及全体监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 ...

证券代码：600926 证券简称：杭州银行 公告编号：2025-078 优先股代码：360027 优先股简称：杭银优 1 杭州银行股份有限公司 第八届董事会第二十一次会议决议公告 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 性和完整性承担法律责任。 杭州银行股份有限公司（以下简称"公司"）第八届董事会 第二十一次会议于 2025 年 10 月 20 日以电子邮件及书面方式发 出会议通知，并于 2025 年 10 月 30 日以现场结合视频方式召开， 宋剑斌董事长主持会议。本次会议应出席董事 11 名，亲自出席 董事 11 名。公司监事和高级管理层成员列席了本次会议。本次 会议的召开符合《中华人民共和国公司法》（以下简称"《公司 法》"）等法律法规及《杭州银行股份有限公司章程》（以下简 称"《公司章程》"）的有关规定，会议所形成的决议合法、有 效。会议审议并通过决议如下： 一、审议通过《杭州银行股份有限公司 2025 年度中期利润 分配方案》 以最近一期经审计未分配利润为基准，按照当期利润的合理 比例，拟定公司 2025 年度中期利润分配方案如下： ...