证券代码：601077 证券简称：渝农商行 公告编号：2025-020 重庆农村商业银行股份有限公司 关于召开2024年度股东大会的通知 本行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。 重要内容提示： 一、 召开会议的基本情况 (一) 股东大会类型和届次 2024年度股东大会 股东大会召开日期：2025年5月21日 本次股东大会采用的网络投票系统：上海证券交易所股东大会网络投票 系统 (二) 股东大会召集人：董事会 (三) 投票方式：本次股东大会所采用的表决方式是现场投票和网络投票相结 合的方式 (四) 现场会议召开的日期、时间和地点 召开的日期时间：2025 年 5 月 21 日 上午 10 点 召开地点：重庆市江北区金沙门路 36 号重庆农村商业银行股份有限公司大 厦会议中心 (五) 网络投票的系统、起止日期和投票时间。 网络投票系统：上海证券交易所股东大会网络投票系统 网络投票起止时间：自2025 年 5 月 21 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股 东大会召开当日的交易时间段，即 9: ...

证券代码：601077 证券简称：渝农商行 公告编号：2025-017 重庆农村商业银行股份有限公司 第五届监事会第三十二次会议决议公告 本行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任。 重庆农村商业银行股份有限公司（以下简称"本行"）第五届监事会第三十 二次会议于 2025 年 4 月 25 日在本行总行 503 会议室以现场结合通讯方式召开。 本行已于 2025 年 4 月 20 日以直接送达、传真和电子邮件形式发出会议通知和材 料。本次会议应出席监事 7 名，实际出席监事 7 名。会议的召开符合法律、行政 法规、部门规章、规范性文件和《重庆农村商业银行股份有限公司章程》的有关 规定。 本次会议审议通过了以下议案： 一、关于审议《重庆农村商业银行股份有限公司 2025 年第一季度报告》的 议案 表决情况：有效表决票 7 票，同意 7 票，反对 0 票，弃权 0 票。 三、关于审议《重庆农村商业银行股份有限公司 2024 年消费者权益保护工 作情况报告》的议案 表决情况：有效表决票 7 票，同意 7 票，反对 0 票，弃权 0 ...

证券代码：601077 证券简称：渝农商行 公告编号：2025-016 重庆农村商业银行股份有限公司 第五届董事会第五十六次会议决议公告 本行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。 重庆农村商业银行股份有限公司（以下简称"本行"）第五届董事会第五十 六次会议于 2025 年 4 月 25 日在本行总行 401 会议室以现场方式召开。本行已于 2025 年 4 月 11 日以电子邮件形式发出会议通知和材料，于 2025 年 4 月 22 日以 电子邮件形式发出会议补充通知和材料。本次会议应出席董事 8 名，实际出席董 事 8 名（其中，现场出席董事 2 名，董事胡淳女士、殷祥林先生、张桥云先生、 李明豪先生、李嘉明先生、毕茜女士以通讯方式参会）。本行股东上海豫园旅游 商城（集团）股份有限公司质押本行股权比例超过 50%，根据监管规定对其提名 的彭玉龙董事在董事会上的表决权进行了限制。会议的召开符合法律、法规、规 章和本行章程的有关规定。 一、《关于审议重庆农村商业银行股份有限公司 2025 年第一季度报告的议 案》 表决情况： ...

Financial Performance - Net profit for Q1 2025 was RMB 3,817.0 million, up 4.24% from RMB 3,661.6 million in Q1 2024[6] - The net profit attributable to shareholders increased by 6.25% to RMB 3,744.6 million compared to RMB 3,524.3 million in the same period last year[6] - The total operating income for Q1 2025 was RMB 7,223.7 million, a slight increase of 1.35% from RMB 7,127.8 million in Q1 2024[6] - The company achieved operating revenue of 7.224 billion CNY, an increase of 1.35% year-on-year[19] - Net interest income was 5.812 billion CNY, up 5.31% compared to the same period last year[19] - The company’s weighted average return on equity was 12.00%, a decrease of 0.01 percentage points year-on-year[19] - Investment income for Q1 2025 was reported at 1,336,268 thousand RMB, significantly higher than 938,466 thousand RMB in Q1 2024, marking a growth of 42.38%[32] - The company’s basic earnings per share for Q1 2025 was 0.33 RMB, compared to 0.31 RMB in Q1 2024, showing an improvement in profitability per share[33] - The net profit for Q1 2025 reached CNY 3,380,066, up from CNY 2,891,377 in Q1 2024, reflecting a growth of 16.91%[41] Assets and Liabilities - Total assets reached RMB 1,610,333.9 million as of March 31, 2025, an increase of 6.30% compared to the end of 2024[5] - Total liabilities were 1.474967 trillion CNY, up 93.635 billion CNY, or 6.78% from the end of the previous year[20] - The total liabilities as of March 31, 2025, were 1,474,967,450 thousand RMB, up from 1,381,332,883 thousand RMB, reflecting an increase of 6.74%[30] - The total assets as of March 31, 2025, amounted to CNY 1,521,968,122, an increase from CNY 1,426,190,876 as of December 31, 2024, representing a growth of 6.69%[38] - The total equity increased to 135,366,458 thousand RMB as of March 31, 2025, from 133,608,787 thousand RMB at the end of 2024, reflecting a growth of 1.31%[30] Cash Flow and Liquidity - Operating cash flow net amount decreased significantly by 67.71% to RMB 22,569.6 million, primarily due to increased cash outflows for deposits with the central bank[9] - The company reported a net cash inflow from operating activities of 22,569,603 thousand RMB for Q1 2025, compared to 69,904,634 thousand RMB in Q1 2024, indicating a decrease in cash generation[35] - The net cash flow from operating activities for Q1 2025 was CNY 29,108,439, a decrease from CNY 75,257,069 in Q1 2024[44] - Cash and cash equivalents at the end of Q1 2025 were CNY 50,160,013, down from CNY 67,727,691 at the end of Q1 2024[36] - The cash outflow for redeeming issued bonds was (12,960,000), significantly lower than (39,830,000) in the prior period, suggesting a strategic reduction in debt obligations[45] - The total cash outflow for dividends and interest payments was (2,227,777), with no payments recorded in the previous period, indicating a shift in dividend policy[45] Capital Adequacy and Risk Management - The core Tier 1 capital adequacy ratio stood at 13.16% as of March 31, 2025, compared to 14.24% at the end of 2024[13] - The liquidity coverage ratio was reported at 451.72%, indicating strong liquidity position[17] - Non-performing loan balance stood at 8.747 billion CNY, with a non-performing loan ratio of 1.17%, down 0.01 percentage points from the end of the previous year[20] - Credit impairment losses decreased by 19.17% year-on-year to 1.078 billion CNY[19] Strategic Initiatives - The company is undergoing a transfer of 80% equity in Chongqing Water Environment Holdings Group Co., Ltd. to enhance state-owned enterprise reform[25]

渝农商行（601077）公告，2025年第一季度营业收入为72.24亿元，同比增长1.35%；净利润为38.17亿 元，同比增长4.24%；归属于本行股东的净利润为37.45亿元，同比增长6.25%；归属于本行股东的扣除 非经常性损益的净利润为37.42亿元，同比增长6.83%；经营活动产生的现金流量净额为225.7亿元，同 比下降67.71%；基本及稀释每股收益为0.33元/股，同比增长6.45%；扣除非经常性损益后基本及稀释每 股收益为0.33元/股，同比增长6.45%；加权平均净资产收益率为12.00%，同比下降0.01个百分点；平均 总资产回报率为0.99%，同比下降0.01个百分点。截至2025年3月31日，资产总额为1.61万亿元，同比增 长6.30%；负债总额为1.47万亿元，同比增长6.78%；客户存款为1.04万亿元，同比增长9.96%。 ...

Group 1 - Since April, 9 bank stocks have reached historical highs, indicating a sustained increase in industry interest [1][2] - In Q4 2024, bank performance has significantly improved, with many banks reporting positive results in Q1 of this year [1][5] - The total cash dividends for the banking sector are expected to reach a new high, with 12 bank stocks each exceeding 10 billion yuan in annual dividends [1][7] Group 2 - On April 24, the banking index closed up 1.16%, with major banks like Bank of China, Agricultural Bank of China, and Industrial and Commercial Bank of China hitting record highs [2] - The stock prices of major banks have steadily increased this year, with Shanghai Bank showing a year-to-date increase of 15.52% [2] - The banking sector is favored as a low-valuation, high-dividend defensive asset amid ongoing market fluctuations [3] Group 3 - Over 90% of the 36 bank stocks that have released their 2024 annual reports or performance forecasts reported year-on-year profit growth [5] - Shanghai Pudong Development Bank reported the highest year-on-year profit growth at 23.31%, driven by rapid credit growth and improved asset quality [5] - The total net profit of the disclosed bank stocks in Q4 2024 exceeded 480 billion yuan, marking a 5.66% increase from the previous year [5] Group 4 - Five bank stocks have released Q1 2025 performance reports, with several banks reporting year-on-year profit growth [6] - Major banks have indicated ongoing improvements in their asset-liability structures and operational efficiency [6] Group 5 - As of April 24, 29 bank stocks have announced dividend plans, with a total cash dividend amounting to 357.84 billion yuan [7] - The cumulative cash dividends for the banking sector in 2024 have reached 616.13 billion yuan, surpassing the previous year's total [8] - Industrial and Commercial Bank of China announced a cash dividend of 1.646 yuan per 10 shares, totaling 58.66 billion yuan, marking a continuous growth for nine years [8]

超九成上市银行的投资收益在2024年实现了正增长，最高增幅达176.81%。 在净息差持续收窄的背景下，投资收益成为不少上市银行重要的盈利来源，近两年表现尤为突出。记者 注意到，截至4月24日，共有28家A股上市银行披露了2024年年度报告。其中，超九成银行的投资收益 实现了正增长，最高增幅达176.81%，农商行表现尤为突出。 投资收益的显著增长背后，是债券市场牛市行情带来的丰厚利润。多家银行在年报中指出，投资收益的 显著增长与债券投资收益的增加密切相关，部分银行通过兑现存量债券浮盈，实现其他非息收入快速增 长。 然而，未来债市投资能否继续为银行业绩提供有力支撑？从上市银行披露的2025年一季报来看，进入 2025年后，债券市场波动明显加剧，部分银行已提前兑现浮盈，其中不乏平安银行、南京银行、江阴银 行等买债"大户"。展望未来，业内人士预计，随着债市波动加剧，银行通过买卖债券获取收益的难度也 将增加。 此外，2024年多数银行的投资收益占营业收入的比例较为突出。以张家港行和江阴银行这两家农商行为 例，其投资收益占营业收入的比例均超过了20%。具体来看，张家港行2024年实现营业收入47.11亿 元，其中投资 ...

Group 1 - The banking sector has seen 9 stocks reach historical highs this month, including major state-owned banks like ICBC, ABC, and CCB, with significant year-to-date gains [2][4] - The banking sector index rose by 1.16% on April 24, outperforming the market, with notable increases in stock prices for major banks [2][3] - The overall performance of the banking sector improved significantly in Q4 of the previous year, with 33 out of 36 banks reporting year-on-year profit growth [4][5] Group 2 - The total cash dividends announced by banks for 2024 have reached a record high of 6,161.26 billion yuan, surpassing the previous year's total [6][7] - Major banks like ICBC, CCB, and ABC have declared dividends exceeding 500 billion yuan, contributing to the sector's reputation for high dividends [6][7] - Ningbo Bank reported the highest year-on-year increase in dividends at 50%, indicating a strong commitment to shareholder returns [7]

证券研究报告 金融 券商并表监管落地，稳定股市基调延续 华泰研究 2025 年 4 月 20 日│中国内地 行业周报（第十六周） 本周观点 投资机会方面银行>证券>保险。A 股大盘指数稳步修复，但交易活跃度下 滑，4 月 18 日成交额不足万亿；融资余额回落至 17990 亿元；ETF 资产净 值突破 4 万亿元大关。上周北京、华夏、江苏三家银行披露 24 年报，营收 增速边际改善，资产质量整体平稳。平安银行披露首份一季报，战略转型推 进及债市波动影响下，业绩增速环比略有下滑。一季度 GDP 同比+5.4%， 国民经济起步平稳，房地产市场继续延续止跌回稳走势。国常会强调"持续 稳定股市"；券商并表指引发布并设置差异化过渡期。我们认为当前保险板 块估值可能仍未完全反映利率的压力，建议投资者多关注险企净资产变化， 少关注净利润变化，利率波动时期，资产负债表具有韧性至关重要。 子行业观点 1）银行：北京、华夏、江苏三家披露 24 年报，营收增速边际改善，资产 质量平稳。平安披露首份一季报，战略转型推进及债市波动影响下，业绩增 速环比略有下滑。政策预期向好，把握优质个股结构性机会。 2）证券： 券商并表指引发布，配套 ...

Core Viewpoint - The financial indicators and asset quality of the six disclosed banks are generally stable in the first quarter, with a positive outlook for the banking sector driven by increased market volatility and the sector's stable returns and index weight advantages [1][9]. Summary by Sections Financial Performance - Six listed banks have disclosed their Q1 2025 performance, showing overall stability but continued differentiation in earnings. For instance, Minsheng Bank reported a net interest margin improvement and a revenue increase of over 7% year-on-year, while Ping An, Chongqing Rural Commercial Bank, and Changshu Bank reported revenue changes of -13.05%, +1.35%, and +10.05% respectively [2]. - The divergence in earnings performance is attributed to the impact of last year's net interest margin decline and the effects of fair value changes in Q1 [2]. Credit Growth - The banks demonstrated strong expansion momentum, with Shanghai Pudong Development Bank's total loans increasing by 254.58 billion (5.02%) year-on-year, marking a recent quarterly high. Minsheng Bank also reported stable growth in deposits and loans, while Ping An Bank's loans grew by 1.1% [3]. - Overall, the credit growth and expansion are positive, aligning with marginal improvements in social financing growth, with significant focus on real credit issuance and investment in interest-bearing bonds [3]. Asset Quality - Asset quality remains stable, with non-performing loan ratios for Ping An, Chongqing Rural, and Changshu banks remaining flat or slightly improved. The provision coverage ratios for these banks are still at solid levels, indicating a cautious approach to provisioning [4]. - The banks are intensifying efforts to recognize and manage problem assets, particularly in retail lending, with future asset quality changes dependent on the recovery of household balance sheets [4]. Market Performance - The banking sector showed optimistic performance last week, with the A/H bank index rising by 4.23%, outperforming the broader market. Notable gainers included Chongqing Bank (8.8%) and Shanghai Pudong Development Bank (7.4%) [6]. - The influx of incremental funds into the banking sector is evident, with significant net inflows into stock ETFs and increased holdings by southbound funds in Hong Kong [7]. Investment Outlook - The banking sector is recommended for active allocation due to its defensive attributes and relative value, especially in the context of ongoing U.S.-China trade tensions. The sector is expected to maintain robust fundamentals compared to most industries [9]. - Specific stock recommendations focus on banks with stable profitability, attractive dividend yields, and potential for valuation recovery [9].