Investment Rating - The report maintains a "Recommended" rating for the company, with a closing price of 7.17 yuan on October 24, 2024, corresponding to 0.7 times the 2024 PB [3][4]. Core Views - The company continues to achieve high growth in performance, with a robust provision level that supports a low non-performing loan ratio. The expected EPS for 2024-2026 is projected to be 1.41, 1.65, and 1.91 yuan respectively [3][4]. - The company has a strong risk compensation ability, which is crucial for maintaining low asset quality indicators despite some fluctuations in forward-looking metrics [3][4]. Summary by Sections Financial Performance - For the first three quarters of 2024, the company reported revenue of 8.4 billion yuan, a year-on-year increase of 11.3%, and a net profit attributable to shareholders of 3 billion yuan, up 18.2% year-on-year. The non-performing loan ratio stands at 0.77%, with a provision coverage ratio of 528% [2][3]. - The net interest income growth rate has rebounded, with a year-on-year increase of 6.2% and non-interest income rising by 44.2%. However, the growth rate of non-interest income has slowed due to market volatility affecting the valuation of financial assets [2][3]. Asset Quality and Loan Growth - Total assets and total loans increased by 10.4% and 9.7% year-on-year respectively, although the growth rates have decreased compared to the end of the first half of 2024. Corporate loans grew by 19.3%, while personal loans increased by 3.2% [2][3]. - The company has adjusted its credit issuance strategy, focusing on risk control, which has led to a decrease in the proportion of loans under 10 million yuan [2][3]. Interest Margin and Deposit Growth - The net interest margin for the first three quarters of 2024 is 2.75%, down 4 basis points from the end of the first half of 2024. The decline in the proportion of time deposits may have contributed to this trend [2][3]. - Deposit growth has slightly improved compared to the first half of 2024, likely due to adjustments in deposit rates attracting interest-sensitive customers [2][3]. Future Outlook - The company is expected to maintain a strong performance trajectory, with projected revenue growth rates of 12.1%, 11.9%, and 11.8% for the years 2024-2026. The net profit growth rates are forecasted at 19.6%, 18.0%, and 16.8% respectively [3][4].

近日，本行董事会收到孙明先生的书面辞职报告。因工作调整，孙明先生向 本行董事会提出辞去本行董事会秘书的职务，辞任后孙明先生调本行控股子公司 兴福村镇银行股份有限公司任职。根据有关规定，辞职报告自送达本行董事会时 即生效。 证券代码：601128 证券简称：常熟银行 公告编号：2024-038 江苏常熟农村商业银行股份有限公司 关于董事会秘书孙明先生辞任的公告 江苏常熟农村商业银行股份有限公司（以下简称"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个别及连带责任。 孙明先生在担任本行董事会秘书期间，恪尽职守、勤勉尽责，在完善公司治 理体系、服务董事会高效运作、提升信息披露质效、强化公司价值管理和投资者 关系维护等方面发挥了积极作用。本行董事会对孙明先生任职期间为本行持续稳 健发展做出的贡献表示衷心感谢，并祝愿其在村镇银行改革发展中展现更大作为。 特此公告。 江苏常熟农村商业银行股份有限公司董事会 2024年10月24日 孙明先生已确认其与本行董事会无不同意见，亦无任何其他事项需要通知本 行股东及债权人。 ...

一、2024 年第三季度报告 同意 13 票，反对 0 票，弃权 0 票。 具体内容详见本行同日披露在上海证券交易所网站的《常熟银行 2024 年第 三季度报告》 证券代码：601128 证券简称：常熟银行 公告编号：2024-039 江苏常熟农村商业银行股份有限公司 第八届董事会第八次会议决议公告 江苏常熟农村商业银行股份有限公司（以下简称"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个别及连带责任。 本行第八届董事会第八次会议于 2024 年 10 月 24 日以现场会议方式召开， 会议通知及会议文件已于 2024 年 10 月 14 日发出。会议由薛文董事长主持，会 议应到董事 13 人，实到董事 13 人，全体监事列席了会议。会议符合《公司法》 等法律法规及本行《章程》的有关规定。 会议审议并通过了如下议案： 本议案已经本行第八届董事会审计与消费者权益保护委员会第四次会议审 议通过。 二、2024 年第三季度第三支柱信息披露报告 同意 13 票，反对 0 票，弃权 0 票。 具体内容详见在本行官网投资者关系栏目中披露的《常 ...

江苏常熟农村商业银行股份有限公司 第八届监事会第六次会议决议公告 证券代码：601128 证券简称：常熟银行 公告编号：2024-040 二、2024 年反洗钱工作专项检查风险意见 江苏常熟农村商业银行股份有限公司（以下简称"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个别及连带责任。 本行第八届监事会第六次会议于 2024 年 10 月 24 日以现场会议方式召开， 会议通知及会议文件已于 2024 年 10 月 14 日以电子邮件方式发出。会议由宋毅 监事长主持，会议应到监事 6 人，实到监事 6 人。会议符合《公司法》等法律法 规及本行《章程》的有关规定。 会议审议并通过了如下议案： 一、2024 年第三季度报告审核意见 同意 6 票，反对 0 票，弃权 0 票。 监事会出具如下审核意见： （1）本行《2024 年第三季度报告》的编制和审议程序符合《公司法》等法 律、法规以及本行《章程》和相关内部管理制度的规定； （2）本行《2024 年第三季度报告》的内容与格式符合中国证监会和上海证 券交易所的各项规定，所包含的信息真实、 ...

Financial Performance - Operating income for Q3 2024 reached CNY 2,864,257 thousand, an increase of 9.91% year-on-year[3] - Net profit attributable to shareholders was CNY 1,241,377 thousand, reflecting a growth of 16.26% compared to the same period last year[3] - Total operating income for the first nine months of 2024 reached CNY 8,369,945 thousand, an increase from CNY 7,520,406 thousand in the same period of 2023, representing a growth of approximately 11.3%[17] - Net profit for the first nine months of 2024 was CNY 3,729,669 thousand, compared to CNY 3,172,942 thousand in the same period of 2023, reflecting a growth of about 17.6%[17] - The net profit for Q3 2024 was CNY 3,209,651, an increase from CNY 2,714,766 in Q3 2023, representing a growth of approximately 18.2%[18] - The total comprehensive income attributable to shareholders of the parent company for Q3 2024 was CNY 2,958,903, up from CNY 2,627,155 in Q3 2023, marking an increase of around 12.6%[18] Assets and Liabilities - Total assets at the end of Q3 2024 amounted to CNY 362,742,642 thousand, representing an 8.46% increase from the end of the previous year[3] - Total assets as of September 30, 2024, amounted to CNY 362,742,642 thousand, compared to CNY 334,456,430 thousand at the end of 2023, indicating a growth of approximately 8.4%[16] - The company's total liabilities increased to CNY 333,102,551 thousand as of September 30, 2024, from CNY 307,325,494 thousand at the end of 2023, marking an increase of about 8.4%[15] - The total equity attributable to shareholders reached CNY 27,633,618 thousand, up from CNY 25,356,407 thousand in 2023, representing an increase of approximately 9.0%[16] Capital and Ratios - The weighted average return on equity (ROE) was 18.38%, up by 0.60 percentage points year-on-year[3] - As of September 30, 2024, the core tier 1 capital net amount reached CNY 28,567,653, an increase from CNY 26,392,626 as of December 31, 2023, representing a growth of 8.26%[10] - The tier 1 capital adequacy ratio improved to 10.63% as of September 30, 2024, compared to 10.48% at the end of 2023, indicating a positive trend in capital strength[10] - The liquidity coverage ratio stood at 279.76% as of September 30, 2024, significantly above the regulatory requirement, showcasing strong liquidity management[11] - The bank's core tier 1 capital adequacy ratio was 10.58% as of September 30, 2024, compared to 10.42% at the end of 2023, reflecting a solid capital position[10] - The total capital net amount reached CNY 37,668,996 as of September 30, 2024, an increase from CNY 35,107,322 at the end of 2023, indicating robust capital growth[10] Loans and Deposits - Total deposits reached CNY 284,608,574 thousand, an increase from CNY 247,938,809 thousand at the end of 2023[6] - Total loans amounted to CNY 239,685,817 thousand, up from CNY 222,439,155 thousand at the end of 2023[6] - The total amount of loans and advances issued by the company reached CNY 230,738,266 thousand as of September 30, 2024, an increase from CNY 214,226,530 thousand at the end of 2023, indicating a growth of approximately 7.7%[15] - The net increase in customer deposits and interbank placements for the first nine months of 2024 was CNY 35,176,598, compared to CNY 29,417,070 in the same period of 2023, reflecting a growth of about 19.1%[19] Cash Flow - The company recorded a net cash flow from operating activities of CNY 15,398,738 thousand, a significant increase of 128.74% year-on-year[3] - The net cash flow from operating activities for Q3 2024 was CNY 15,398,738, significantly higher than CNY 6,731,888 in Q3 2023, indicating a year-over-year increase of approximately 128.5%[19] - The cash inflow from operating activities totaled CNY 50,090,971 in Q3 2024, compared to CNY 48,913,087 in Q3 2023, showing a growth of about 2.4%[19] - The net cash flow from investing activities for Q3 2024 was negative CNY 8,845,368, compared to negative CNY 4,390,820 in Q3 2023, indicating a decline in investment cash flow[19] Shareholder Information - The total number of common shareholders reached 39,958 by the end of the reporting period, indicating a stable shareholder base[12] - The top ten shareholders collectively hold 39.99% of the total shares, with the largest shareholder, Bank of Communications, owning 9.01%[12] Operational Efficiency - The cost-to-income ratio improved to 35.17%, down from 36.87% at the end of 2023[8] - The net interest margin was reported at 2.70%[8] - Net interest income for the first nine months of 2024 was CNY 6,903,070 thousand, up from CNY 6,502,912 thousand in 2023, reflecting a year-over-year increase of about 6.2%[17] Risk Management - The non-performing loan (NPL) ratio stood at 0.77%, slightly up from 0.75% at the end of the previous year[8] - The leverage ratio increased to 6.58% as of September 30, 2024, up from 6.51% at the end of 2023, reflecting enhanced capital management[11] Strategic Initiatives - The company plans to continue expanding its market presence and investing in new technologies to enhance its competitive edge in the financial sector[15] - The bank conducted multiple investor communication sessions, including a significant call with 45 institutions on August 21, 2024, enhancing transparency and engagement with stakeholders[13] Asset Management - The adjusted on-balance and off-balance sheet asset balance was CNY 436,253,675 as of September 30, 2024, compared to CNY 408,141,175 at the end of 2023, indicating growth in asset management[11] - The company has maintained a strong liquidity position with cash and deposits at central banks totaling CNY 21,114,605 thousand as of September 30, 2024, compared to CNY 19,345,642 thousand at the end of 2023, reflecting an increase of about 9.1%[15] - The total cash and cash equivalents at the end of Q3 2024 were CNY 14,703,637, an increase from CNY 12,489,336 at the end of Q3 2023, representing a growth of about 17.8%[20]

2024 年第一次临时股东大会会议资料 江苏常熟农村商业银行股份有限公司 2024 年第一次临时股东大会 会议资料 2024 年 11 月 6 日 2024 年第一次临时股东大会会议资料 目 录 | 股东大会议程 2 | | --- | | 股东大会会议须知 3 | | 吸收合并江苏丹徒蒙银村镇银行股份有限公司并设立分支机构 4 | 1 2024 年第一次临时股东大会会议资料 股东大会议程 二、审议各项议案 1、吸收合并江苏丹徒蒙银村镇银行股份有限公司并设立分支机构 2 三、股东质询 四、投票表决、计票 五、宣布表决结果 六、律师宣读法律意见书 七、大会结束 2024 年第一次临时股东大会会议资料 江苏常熟农村商业银行股份有限公司 股东大会会议须知 为维护全体股东的合法权益，确保股东大会的正常秩序和议事效率，保证股 东大会的顺利召开，根据中国证监会《上市公司股东大会规则》、本行《章程》 和《股东大会议事规则》等规定，特制定本须知。 一、本行根据《公司法》、《证券法》、《上市公司股东大会规则》和本行 《章程》的规定，认真做好召开股东大会的各项工作。 会议时间：2024 年 11 月 6 日（星期三）上午 10: ...

证券代码：601128 证券简称：常熟银行 公告编号：2024-035 转债代码：113062 转债简称：常银转债 2024 年第三季度转股情况：2024 年 7 月 1 日至 2024 年 9 月 30 日，累 计有人民币 15,000 元常银转债转为本行 A 股普通股，累计转股股数为 2,175 股。 未转股可转债情况：截至 2024 年 9 月 30 日，尚未转股的常银转债金额 为人民币 5,999,704,000 元，占常银转债发行总量的比例为 99.9951%。 一、可转债发行上市概况 经中国证券监督管理委员会"证监许可〔2022〕1688 号"文核准，本行于 2022 年 9 月 15 日公开发行了 6,000 万张 A 股可转换公司债券，每张面值 100 元， 发行总额 60 亿元，期限 6 年，票面利率第一年为 0.20%、第二年为 0.40%、第三 年为 0.70%、第四年为 1.00%、第五年为 1.30%、第六年为 1.80%。 经上海证券交易所自律监管决定书〔2022〕269 号文同意，本行 60 亿元 A 股 可转换公司债券于 2022 年 10 月 17 日起在上交所挂牌交易，债券 ...

Summary of Changshu Bank's Conference Call Company Overview - **Company**: Changshu Bank - **Period**: First half of 2024 Key Financial Metrics - **Revenue**: Achieved revenue of 5.506 billion yuan, a year-on-year increase of 12.03% [1][2] - **Net Profit**: Reached 1.734 billion yuan, up 19.58% year-on-year [1][2] - **Return on Equity (ROE)**: Annualized ROE of 13.28%, an increase of 0.88 percentage points year-on-year [1][2] - **Return on Assets (ROA)**: Annualized ROA of 1.08%, up 0.04 percentage points year-on-year [1][2] - **Total Assets**: 367.3 billion yuan, a growth of 9.8% from the beginning of the year [1][2] - **Total Loans**: 238.9 billion yuan, an increase of 7.42% year-to-date [1][2] - **Total Deposits**: 282.8 billion yuan, up 14.04% from the start of the year [1][2] Asset Quality - **Non-Performing Loan (NPL) Ratio**: 0.76%, an increase of 0.01 percentage points from the beginning of the year [1][3] - **Provision Coverage Ratio**: 538.81%, up 0.93 percentage points year-to-date [1][3] Brand Strength and Recognition - **Awards**: Ranked first in the county-level rural commercial bank category by the China Banking Association for six consecutive times [1][3] - **Global Ranking**: Ranked 385th in The Banker magazine's global ranking and included in the Global 500 for six consecutive years [1][3] - **Credit Rating**: Achieved the highest credit rating of AAA [1][3] Strategic Initiatives - **Core Business Focus**: Emphasized financial services for the real economy and maintained a balanced approach between local and non-local business [1][4] - **Cost Efficiency**: Reduced cost-to-income ratio to 35.18%, a decrease of 1.69 percentage points from the previous year [1][4] - **Risk Management**: Enhanced risk management through financial technology, maintaining a low NPL ratio and high provision coverage [1][4] Future Work Focus - **Asset Expansion**: Aim to increase the number of clients and expand credit business, particularly targeting small and micro enterprises [1][5] - **Liability Optimization**: Focus on low-cost funding channels and implement differentiated pricing strategies [1][6] - **Customer Service Enhancement**: Build specialized teams to improve marketing effectiveness and explore new business opportunities [1][6] - **Risk Control and Compliance**: Strengthen risk model strategies and enhance compliance measures to improve decision-making efficiency [1][6]

证券代码：601128 证券简称：常熟银行 公告编号：2024-034 江苏常熟农村商业银行股份有限公司 首次公开发行限售股（自律锁定）上市流通公告 江苏常熟农村商业银行股份有限公司（以下简称"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个别及连带责任。 重要内容提示： 本次股票上市类型为首发股份；股票认购方式为网下，上市股数为 107,261,911 股。 本次股票上市流通总数为 107,261,911 股。 本次股票上市流通日期为 2024 年 9 月 30 日。 一、本次限售股上市类型：首次公开发行限售股（自律锁定） 经中国证券监督管理委员会《关于核准江苏常熟农村商业银行股份有限公司 首次公开发行股票的批复》（证监许可[2016]1660 号）核准，本行首次公开发行人 民币普通股（A 股）222,272,797 股，并于 2016 年 9 月 30 日在上海证券交易所挂 牌上市。本行首次公开发行前总股本为 2,000,455,172 股，首次公开发行后总股 本为 2,222,727,969 股。 本行首发上市前持股超过 5 ...

中信证券股份有限公司关于 首次公开发行限售股（自律锁定）上市流通之核查意见 根据《证券发行上市保荐业务管理办法》《上海证券交易所股票上市规则》 和《上海证券交易所上市公司自律监管指引第 11 号——持续督导》等有关规定， 作为江苏常熟农村商业银行股份有限公司（以下简称"常熟银行""发行人"）2022 年度公开发行可转换公司债券的保荐机构，中信证券股份有限公司（以下简称"中 信证券"）对常熟银行首次公开发行限售股（自律锁定）上市流通的事项进行了 核查，核查情况如下： 一、本次限售股上市类型 经中国证券监督管理委员会《关于核准江苏常熟农村商业银行股份有限公司 首次公开发行股票的批复》（证监许可[2016]1660 号）核准，常熟银行首次公开 发行人民币普通股（A 股）222,272,797 股，并于 2016 年 9 月 30 日在上海证券 交易所挂牌上市。常熟银行首次公开发行前总股本为 2,000,455,172 股，首次公 开发行后总股本为 2,222,727,969 股。 常熟银行首发上市前持股超过 5 万股的员工股东持有的股份，锁定期为三年， 至 2019 年 9 月 30 日，三年锁定期已满，剩余限售股 ...