Investment Rating - The investment rating for Industrial Bank (601166) is not explicitly stated in the provided content, but the report indicates a positive outlook based on the bank's performance metrics and strategic initiatives. Core Insights - The report highlights that Industrial Bank achieved an operating income of 164.217 billion yuan in Q1-Q3 2024, representing a year-on-year growth of 1.81%. However, the net profit attributable to shareholders decreased by 3.02% to 63.006 billion yuan [13][15]. - The bank's total assets reached 10.31 trillion yuan by the end of Q3 2024, marking a year-on-year increase of 3.87%. Loan growth was robust, with total loans increasing by 8.05% year-on-year, and corporate loans growing by 11.36% [14][15]. - The report emphasizes the bank's focus on integrating its strategic initiatives, such as "three cards," "five new tracks," and "digital Industrial Bank," to enhance asset allocation in key areas like green finance, technology, and inclusive finance [14]. - The net interest margin slightly decreased to 1.84%, down by 10 basis points year-on-year, while the deposit interest rate fell by 23 basis points to 2.03% [15]. - Asset quality remains stable, with a non-performing loan ratio of 1.08% and a provision coverage ratio of 233.54% as of Q3 2024 [16]. Summary by Sections Financial Performance - For Q1-Q3 2024, Industrial Bank's operating income was 164.217 billion yuan, up 1.81% year-on-year, while net profit attributable to shareholders was 63.006 billion yuan, down 3.02% [13][15]. - The bank's total assets were 10.31 trillion yuan, reflecting a 3.87% increase year-on-year, with loans growing by 8.05% and corporate loans by 11.36% [14]. Asset Quality - The non-performing loan ratio stood at 1.08%, stable compared to the previous half-year, and the provision coverage ratio was 233.54%, slightly down by 4.24 percentage points year-on-year [16]. Profitability Forecast - The report forecasts net profit growth rates of 0.17%, 3.30%, and 5.40% for the years 2024 to 2026, with expected earnings per share (EPS) of 3.72 yuan, 3.84 yuan, and 4.05 yuan respectively [16].

Investment Rating - The investment rating for the company is "Strong Buy" (maintained) [1][17]. Core Views - The company's profit growth has slightly declined, with a stable asset quality. The net profit for the first three quarters of 2024 decreased by 3.0% year-on-year, primarily due to increased provisioning [4][5]. - The company's operating income for the first three quarters of 2024 was 164.2 billion yuan, reflecting a year-on-year growth of 1.8% [4][5]. - The bank's net interest margin has stabilized, and the total asset scale reached 10.3 trillion yuan, with loans and deposits at 5.74 trillion yuan and 5.43 trillion yuan, respectively [4][6]. Summary by Sections Financial Performance - For the first three quarters of 2024, the company achieved a net profit of 630 billion yuan, with a year-on-year decline of 3.0% [4][5]. - The annualized weighted average ROE was 10.92% [4]. - The company reported a credit impairment loss increase of 14.3% year-on-year [5]. Revenue and Income - The operating income for the first three quarters was 164.2 billion yuan, with a year-on-year increase of 1.8% [4][5]. - Non-interest income grew by 0.6% year-on-year, with investment-related non-interest income increasing by 12.8% [5]. Asset Quality - The non-performing loan (NPL) ratio remained stable at 1.08% as of the end of the third quarter [8]. - The provisioning coverage ratio decreased to 234% [8]. Market Position and Strategy - The company is focusing on a "commercial bank + investment bank" model to create differentiated operations, with a current dividend yield of 5.54% [9]. - The bank aims to develop into a green bank, wealth bank, and investment bank, indicating a positive long-term growth outlook [9].

第十一届董事会第三次会议（临时会议）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。 兴业银行股份有限公司（以下简称本公司）第十一届董事会第三次会议（临 时会议）于 2024 年 10 月 23 日至 30 日以通讯方式召开。本次会议应参加表决董 事 10 名，实际表决董事 10 名，符合《中华人民共和国公司法》和本公司章程的 规定。本次会议审议通过了以下议案并形成决议： 公告编号：临2024-049 A股代码：601166 A股简称：兴业银行 可转债代码：113052 可转债简称：兴业转债 二、资本管理第三支柱 2024 年第三季度报告； 优先股代码：360005、360012、360032 优先股简称：兴业优1、兴业优2、兴业优3 表决结果：同意 10 票，反对 0 票，弃权 0 票。 兴业银行股份有限公司 一、2024 年第三季度报告；报告全文详见上海证券交易所网站。 表决结果：同意 10 票，反对 0 票，弃权 0 票。 该议案已经董事会审计与关联交易控制委员会事前认可，由该委员会全体委 员审议通过。 兴业银行 ...

Financial Performance - Operating income for Q3 2024 was RMB 51,174 million, a year-on-year increase of 1.84%[3] - Net interest income for Q3 2024 was RMB 36,696 million, a decrease of 1.16% compared to the same period last year[4] - Net profit attributable to shareholders for Q3 2024 was RMB 19,957 million, an increase of 10.45% year-on-year[4] - The bank's basic earnings per share for Q3 2024 was RMB 0.96, a decrease of 10.28% year-on-year[4] - The bank's net profit margin for Q3 2024 was 39.0%, reflecting a solid profitability[4] - Net profit attributable to shareholders was CNY 63.01 billion, a decrease of 3.02% year-on-year[18] - The group's net profit for the nine months ended September 30, 2024, was RMB 62,970 million, compared to RMB 65,216 million in the same period of 2023, indicating a decrease of 3.82%[32] - The net profit for the group for the nine months ended September 30, 2024, was RMB 62,970 million, a decrease of 3.8% compared to RMB 65,216 million for the same period in 2023[33] - The net profit attributable to shareholders of the parent company was RMB 63,006 million, down from RMB 64,965 million, reflecting a decline of 3.0% year-over-year[33] - The total comprehensive income for the group was RMB 66,318 million, slightly up from RMB 65,220 million, indicating a growth of 1.7%[33] - Basic earnings per share decreased to RMB 2.90 from RMB 2.99, representing a decline of 3.0%[34] Asset and Liability Management - Total assets as of September 30, 2024, reached RMB 10,307,428 million, up 1.47% from the end of 2023[5] - The bank's total liabilities were RMB 9,427,894 million, an increase of 0.83% from the end of 2023[6] - The total liabilities of the group as of September 30, 2024, amounted to RMB 9,427,894 million, compared to RMB 9,350,607 million as of December 31, 2023, showing an increase of 0.83%[29] - The total equity attributable to shareholders of the parent company as of September 30, 2024, was RMB 868,153 million, an increase from RMB 796,224 million as of December 31, 2023, representing a growth of 9.02%[30] Loan and Deposit Growth - Total loans amounted to RMB 5,741,603 million, reflecting a growth of 5.14% compared to the end of 2023[5] - Customer loan balance was CNY 5,741.60 billion, growing by 5.14% year-on-year[17] - Customer deposit balance reached CNY 5,425.02 billion, up 5.61% from the previous year[17] - The net increase in customer deposits and interbank placements was RMB 140,102 million, significantly lower than RMB 383,876 million in the previous year[36] - The group recorded a net increase in loans and advances to customers of RMB (316,789) million, compared to RMB (366,900) million in the previous year, showing an improvement[36] Non-Performing Loans and Risk Management - Non-performing loan ratio increased to 1.08% as of September 30, 2024, up 0.01 percentage points from the end of 2023[8] - Non-performing loan balance was CNY 62.12 billion, with a non-performing loan ratio of 1.08%, up 0.01 percentage points from last year[19] - The group's non-performing loan ratio remained stable, indicating effective risk management strategies in place[32] - The company maintained a provision coverage ratio of 233.54%[19] Capital Adequacy and Financial Stability - The capital adequacy ratio as of September 30, 2024, was 11.4%, indicating a stable capital position[11] - The bank's capital adequacy ratio remains strong, supporting its growth and expansion strategies moving forward[32] Shareholder Information - The total number of common shareholders at the end of the reporting period is 242,314, with the top ten shareholders holding a combined total of 3,965,181,007 shares, accounting for 19.09% of the company's total equity[22] - Fujian Provincial Financial Investment Co., Ltd. is the largest shareholder, holding 3,511,918,625 shares, which represents 16.91% of the total shares[22] - The second largest shareholder is China Tobacco Corporation, holding 1,110,226,200 shares, or 5.34%[22] - The top ten preferred shareholders hold a total of 88,734,000 shares, representing 15.85% of the preferred shares[23] - China Ping An Life Insurance Co., Ltd. is the largest preferred shareholder, holding 88,734,000 shares[23] - The company has no repurchase accounts among its top ten shareholders and no delegated voting rights or other related issues[22] - The company has not identified any related party relationships among its top ten common shareholders, except for certain insurance companies[25] Investment and Financing Activities - The company issued the second tranche of tier 2 capital bonds in 2024, totaling RMB 20 billion, to support stable business development[26] - The company completed the issuance of USD 500 million bonds under its USD 5 billion medium-term note program, aimed at providing loans to small and micro enterprises[26] - The company has exercised its redemption option for tier 2 capital bonds issued in 2019, fully redeeming bonds totaling RMB 500 billion[26] Cash Flow and Liquidity - The net cash flow from operating activities was negative at RMB 265,054 million, compared to a positive cash flow of RMB 239,251 million in the same period last year[36] - The cash inflow from investment activities was RMB 3,047,565 million, an increase from RMB 2,205,022 million year-over-year[37] - The net cash flow from financing activities was RMB 122,146 million, recovering from a negative cash flow of RMB 113,566 million in the same period last year[37] - The net increase in cash and cash equivalents for the group was (71,289) million RMB for the nine months ended September 30, 2024, compared to (25,750) million RMB for the same period in 2023[38] - The cash and cash equivalents at the beginning of the period were 531,277 million RMB, up from 404,856 million RMB in the same period last year[38] - The ending balance of cash and cash equivalents was 459,988 million RMB, compared to 379,106 million RMB for the same period in 2023[38]

财联社财经通讯社打开APP20:09:45【孚日股份：获兴业银行1.38亿元贷款支持股份回购】财联社10月 24日电，孚日股份公告，公司与兴业银行签署了《上市公司股票回购借款合同》，兴业银行将为公司提 供1.38亿元的专项贷款资金用于公司股份回购。 公司本次回购的股份种类为A股，回购金额不低于1亿元，不超过2亿元，回购价格不超过6.50元/股，回 购期限自董事会审议通过本方案之日起不超过3个月，回购股份用途为出售。 孚日股份-1.41%A股公告速递查看公告原文财联社声明：文章内容仅供参考，不构成投资建议。 投资者据此操作，风险自担。 2024-10-24 20:09:4530758 阅读商务合作发送 ...

公告编号：临2024-048 A股代码：601166 A股简称：兴业银行 可转债代码：113052 可转债简称：兴业转债 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。 重要内容提示： 会议召开时间：2024 年 10 月 31 日（星期四）上午 9:00-10:00 会议召开方式：本次会议通过电话会议方式召开，投资者可以通过拨打电话或通过 电脑端、手机端登录"进门财经"参加本次业绩说明会。 投资者可于 2024 年 10 月 29 日（星期二）18:00 前将关注问题通过电子邮件的形式 发送至本公司投资者关系邮箱：irm@cib.com.cn。本公司将在业绩说明会上就投资者普遍关 注的问题进行交流。 兴业银行股份有限公司（以下简称本公司）拟于 2024 年 10 月 31 日在上海证券交易所 网站（www.sse.com.cn）披露 2024 年第三季度报告。为方便广大投资者全面深入了解本公 司 2024 年第三季度业绩、经营管理等具体情况，本公司拟召开业绩说明会，就投资者普遍 关注的问题进行交流。 一、业绩说明会类型 优先 ...

经研究，本公司决定聘任叶文欣女士为证券事务代表，协助董事会秘书履行 职责。叶文欣女士具备履行证券事务代表职责的专业知识、管理能力及工作经验， 符合《上海证券交易所股票上市规则》规定的任职条件。叶文欣女士已参加上海 证券交易所董事会秘书任职培训并取得培训证明。 叶文欣女士个人简历如下： 叶文欣，女，1980 年出生，硕士研究生学历，经济师，现任本公司董监事会 办公室副总经理。曾任职于神华（福建）能源有限责任公司，福建省福能兴业股 权投资管理有限公司。历任兴业银行福建管理部总裁助理，办公室总经理助理， 董监事会办公室总经理助理。 特此公告。 兴业银行股份有限公司董事会 公告编号：临2024-047 A股代码：601166 A股简称：兴业银行 可转债代码：113052 可转债简称：兴业转债 优先股代码：360005、360012、360032 优先股简称：兴业优1、兴业优2、兴业优3 兴业银行股份有限公司 关于变更证券事务代表的公告 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法律责任。 兴业银行股份有限公司（以下简称本公司）证券事务代表林 ...

公告编号：临2024-046 A股代码：601166 A股简称：兴业银行 可转债代码：113052 可转债简称：兴业转债 优先股代码：360005、360012、360032 优先股简称：兴业优1、兴业优2、兴业优3 兴业银行股份有限公司 关于可转债转股结果暨股份变动的公告 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法律责任。 重要内容提示： 一、可转债发行上市概况 三、股本变动情况 单位：股 | 股份类别 | 变动前 | | | | 本次可转债转股 | 变动后 | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | （2024 年 6 | 月 | 30 | 日） | | （2024 年 9 | 月 | 30 | 日） | | 有限售条件流通股 | | | | - | | - | | | - | | 无限售条件流通股 | 20,774,300,296 | | | | | 1,425 | 20,774,301,721 | | | | 总股本 | ...

公告编号：临 2024-045 A 股代码：601166 A 股简称：兴业银行 可转债代码：113052 可转债简称：兴业转债 优先股代码：360005、360012、360032 优先股简称：兴业优 1、兴业优 2、兴业优 3 兴业银行股份有限公司 关于 2019 年第二期二级资本债券赎回完成的公告 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法律责任。 兴业银行股份有限公司（以下简称本公司）2019年9月19日发行了规模为人 民币200亿元的10年期二级资本债券（以下简称本期债券），并于2019年9月20 日刊发了《兴业银行关于2019年第二期二级资本债券发行情况的公告》。根据本 期债券募集说明书相关条款的规定，本期债券设有发行人赎回选择权，发行人有 权在本期债券第5年计息年度的最后一日全额赎回本期债券。 截至本公告日，本公司已行使赎回权，全额赎回了本期债券。 特此公告。 兴业银行股份有限公司董事会 2024年9月19日 ...

[Table_MainInfo] 公司研究/金融/银行 证券研究报告 兴业银行（601166）公司半年报点评 2024 年 09 月 11 日 [Table_InvestInfo] 投资评级 优于大市 维持 | --- | --- | |-------------------------------------------------------------------|---------------------| | 股票数据 | | | [ 09 Table_StockInfo 月 10 日收盘价（元） ] | 16.07 | | 52 周股价波动（元） 股本结构 | 13.95-18.45 | | | | | [ 总股本（ Table_CapitalInfo 百万股） ] 流通 A 股（百万股 | 20774 | | B 股 /H 股（百万股） | 20774 0/0 | | 相关研究 [Table_ReportInfo] 《兴业银行 2023 | 年半年报点评： 23Q2 | | 单季度利润增速回正，加强重点领域风 | | 市场表现 [Table_QuoteInfo] 兴业银行 海通综指 -12.95 ...