Core Viewpoint - The AI Fund Huatai-PineBridge Dividend Growth Mixed A (006259) reported a profit of 5.4346 million yuan for Q2 2025, with a net asset value growth rate of 0.82% and a fund size of 735 million yuan as of the end of Q2 2025 [3][15]. Fund Performance - The fund's weighted average profit per share for the reporting period was 0.0104 yuan [3]. - As of July 18, 2025, the unit net value was 1.598 yuan [3]. - The fund's performance over different time frames includes: - 3-month net value growth rate: 6.13%, ranking 210 out of 256 comparable funds [4]. - 6-month net value growth rate: 9.21%, ranking 144 out of 256 comparable funds [4]. - 1-year net value growth rate: 9.40%, ranking 203 out of 256 comparable funds [4]. - 3-year net value growth rate: -11.24%, ranking 108 out of 239 comparable funds [4]. Investment Strategy and Outlook - The fund manager anticipates a gradual reduction in overseas tariff impacts and a slow improvement in the domestic low-inflation environment, expecting macro policies to support economic recovery [4]. - The liquidity environment is expected to remain ample, with potential interest rate cuts from the Federal Reserve and the domestic central bank [4]. - The fund maintains a balanced industry allocation, focusing on high-quality companies with long-term value in a dividend strategy [4]. Risk Metrics - The fund's Sharpe ratio over the past three years is -0.1277, ranking 160 out of 240 comparable funds [9]. - The maximum drawdown over the past three years is 30.07%, ranking 194 out of 240 comparable funds, with the largest single-quarter drawdown recorded at 20.81% in Q1 2021 [11] [11]. Portfolio Composition - As of June 30, 2025, the fund's average stock position over the past three years was 77.62%, compared to the industry average of 85.68% [14]. - The top ten holdings of the fund include: - Zijin Mining - China Shenhua - Agricultural Bank of China - Tencent Holdings - Shanghai Pudong Development Bank - Shanghai Bank - Beijing Bank - China Yangtze Power - Bank of China - China Pacific Insurance [18].

Core Viewpoint - Beijing Bank is actively expanding its personal pension services in response to the nationwide implementation of the personal pension system starting December 15, 2024, aiming to enhance customer satisfaction and operational efficiency through innovative technology solutions [1][8]. Group 1: Business Development - Beijing Bank was one of the first commercial banks authorized to offer personal pension services, launching its operations on November 25, 2022, and has since adhered to a customer-centric service philosophy [1]. - As of February 2025, the number of personal pension accounts opened by Beijing Bank has exceeded 1.8 million [1]. - The bank introduced a reservation system for non-pilot cities on August 29, 2023, to prepare for the nationwide rollout of the personal pension system [2]. Group 2: Technological Innovation - Beijing Bank developed the "P1/P2 Account Opening Method" to facilitate rapid account opening for reservation customers, significantly reducing processing time and enhancing customer experience [2][6]. - The account opening process was optimized, with the P1 phase now accounting for only 14% of the total processing time, greatly improving operational efficiency [3]. - The bank implemented a distributed microservices architecture to support high concurrency and performance in the account opening process [3][5]. Group 3: Operational Efficiency - On December 15, 2024, Beijing Bank successfully opened personal pension accounts for 137,000 customers, achieving a high conversion rate of 92% for reservations [8]. - The bank's coordinated efforts led to surpassing 1.7 million personal pension accounts opened on the first day of the nationwide rollout [8]. - The bank's management interface allows for real-time monitoring of account opening statistics and supports flexible resource allocation during peak times [7]. Group 4: Future Strategy - Beijing Bank plans to continue leveraging digital strategies to enhance its pension services, targeting customers who have not yet opened accounts or made contributions [8][9]. - The bank aims to introduce a range of financial products, including government bonds and index funds, to diversify investment options for customers [8]. - The bank is committed to a comprehensive digital transformation strategy, focusing on providing high-quality services to its aging customer base [9].

Core Viewpoint - Beijing Bank aims to become an "AI-driven commercial bank" to support the high-quality development of the digital economy [1][4] Group 1: Digital Transformation and AI Integration - Beijing Bank has entered a comprehensive digital operation phase, implementing the "All in AI" concept, integrating AI throughout its financial services [3][5] - The bank has achieved significant results in its digital transformation, establishing a unified data platform and risk control system [1][3] - Future plans include creating a new paradigm for digital banking, focusing on deep integration of AI with its strategic layout [3][5] Group 2: Support for Digital Economy - The bank is focusing on national strategic emerging industries and future industries, enhancing its supply chain financial services to support small and micro enterprises [4][6] - Beijing Bank aims to support key technology breakthroughs and domestic replacements, reinforcing the security of industrial and supply chains [4][5] Group 3: Trends in Digital Economy - The strategic position of the digital economy is significantly enhanced, with projections indicating that by 2024, the core industry value added will account for about 10% of GDP [5] - Data production is expected to grow by 25% year-on-year in 2024, with the data transaction scale surpassing 160 billion yuan, reflecting a 30% increase [5] - The digital economy is driving a revolutionary change in supply chain models, enhancing operational efficiency and resilience through technologies like AI and blockchain [5][6] Group 4: Financial Service Innovations - Beijing Bank is developing five key financial service chains: technology finance, supply chain finance, merger finance, cross-border finance, and customer growth lifecycle services [6][7] - The bank has established a specialized service structure for technology finance, focusing on supporting innovative enterprises throughout their growth [6][7] - The supply chain finance system is AI-driven, with a focus on product, service, and scenario innovation, serving over a thousand core enterprises [6][7]

Core Viewpoint - The issuance of "perpetual bonds" and "subordinated bonds" by commercial banks in China has significantly accelerated, particularly in the second quarter, with a total issuance of 894.56 billion yuan across 57 bonds by July 15, 2023 [1] Group 1: Issuance Trends - The issuance volume of "perpetual bonds" and "subordinated bonds" has notably increased in the second quarter, with 43 bonds issued totaling 638.7 billion yuan, compared to only 9 bonds and 173.86 billion yuan in the first quarter [2] - Major state-owned banks, including Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, and China Construction Bank, have been the primary issuers, with significant amounts raised in May 2023 [2] Group 2: Reasons for Acceleration - The acceleration in issuance is driven by stricter regulatory requirements, necessitating banks to enhance their capital levels to meet standards and mitigate potential risks, especially under the pressures of credit expansion and non-performing asset management [2][3] - Increased support for the real economy has also prompted banks to strengthen their capital bases to facilitate higher credit disbursements [3] Group 3: Challenges for Smaller Banks - While state-owned banks lead in issuance, smaller banks, including regional and rural commercial banks, have seen a significant increase in issuance compared to the previous year, highlighting their capital replenishment pressures [4][5] - Smaller banks face challenges in capital replenishment due to limited internal capital generation capabilities and constrained external funding options, making the issuance of "perpetual bonds" and "subordinated bonds" crucial [5] Group 4: Future Outlook - The issuance of "perpetual bonds" is expected to continue, with a divergence in supply between different types of banks; state-owned banks may see a decrease in issuance due to reduced capital pressures, while smaller banks will remain active participants in the market [8] - Smaller banks may encounter higher funding costs and weaker subscription conditions when issuing "perpetual bonds," necessitating improvements in operational quality and brand image to enhance their issuance capabilities [8]

Core Viewpoint - Beijing Bank has announced the implementation of its preferred stock dividend distribution plan, with a fixed dividend rate of 4.20% for the preferred stock "Bei Yin You 2" [1][5]. Dividend Distribution Plan - The dividend rate for Bei Yin You 2 during the second adjustment period is set at 4.20%, based on the benchmark interest rate as of July 25, 2021, plus a fixed premium determined at the time of initial pricing [1]. - The total cash dividend to be distributed amounts to RMB 546 million (including tax), with each share receiving a cash dividend of RMB 4.20 (including tax) [1][2]. - The dividend distribution will be applicable to all shareholders of Bei Yin You 2 registered with the China Securities Depository and Clearing Corporation Limited, Shanghai Branch, as of the market close on July 25, 2025 [1]. Taxation Details - For resident enterprise shareholders as defined by the Corporate Income Tax Law of the People's Republic of China, the cash dividend income tax is to be paid by the shareholders themselves, resulting in an actual cash dividend of RMB 4.20 per share [2]. - Other shareholders will follow relevant regulations for the payment of cash dividend income tax [3]. Dividend Payment Schedule - The dividend payment date for Bei Yin You 2 is set for July 28, 2025, with the last trading day on July 24, 2025, and the record date on July 25, 2025 [4][5]. - The ex-dividend date is also July 25, 2025 [5]. Contact Information - For inquiries, shareholders can contact the Board Office of Beijing Bank at 010-66223826 [6].

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： ? 优先股代码：360023 证券代码：601169 证券简称：北 京 银 行 公告编号：2025-041 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 ? 优先股简称：北银优 2 ? 每股优先股派发现金股息人民币 4.20 元（含税） ? 最后交易日：2025 年 7 月 24 日（周四） ? 股权登记日：2025 年 7 月 25 日（周五） ? 除 息 日：2025 年 7 月 25 日（周五） ? 股息发放日：2025 年 7 月 28 日（周一） 北 京 银 行股份有限公司（以下简称"本行"）优先股（优先股代码： 月 28 日召开的董事会二〇二五年第五次会议审议通过，现将具体实 施事项公告如下： 一、优先股股息发放方案 日 2021 年 7 月 25 日的基准利率加首次定价时所确定的固定溢价确定， 股息率已调整为 4.20%。 中国证券登记结算有限责任公司上海分公司登记在册的公司全体北 银优 2 股东。 法的有关规定： （1）对于持有北银优 2 的属于《中华人民共和国企业所得税法》 规定的居民 ...

Group 1 - The third China International Supply Chain Promotion Expo (Chain Expo) highlights the increasing internationalization and globalization efforts of Xiamen C&D Inc., a core member of the Fortune Global 500 C&D Group, which has established business relationships with over 170 countries and regions [1] - C&D Inc. focuses on serving China's industrial needs and aligns its strategies with national initiatives, particularly in key markets such as Belt and Road countries, BRICS nations, and RCEP member countries [1] - Beijing Bank showcases innovations in supply chain finance and cross-border finance, emphasizing the importance of global supply chain stability and offering multi-currency settlement services [3][4] Group 2 - Beijing Bank's "Foreign Exchange Jing Manager" brand provides 5A-level cross-border services covering 173 countries, facilitating seamless transactions between domestic and foreign currencies [4] - YTO Express, the only private express logistics company at the expo, is actively building logistics infrastructure in Central Asia and has established a cross-border express logistics network with Kazakhstan, processing over 30,000 cross-border packages daily [4]

证券代码：601169 证券简称：北京银行 公告编号：2025-041 北京银行股份有限公司优先股股息发放实施公告 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。 重要内容提示： 优先股简称：北银优 2 每股优先股派发现金股息人民币 4.20 元（含税） 最后交易日：2025 年 7 月 24 日（周四） 股权登记日：2025 年 7 月 25 日（周五） 除 息 日：2025 年 7 月 25 日（周五） 股息发放日：2025 年 7 月 28 日（周一） 3.发放对象：截至 2025 年 7 月 25 日上海证券交易所收市后，在 中国证券登记结算有限责任公司上海分公司登记在册的公司全体北 银优 2 股东。 4.扣税情况：每股税前发放现金股息人民币 4.20 元。根据国家税 法的有关规定： （1）对于持有北银优 2 的属于《中华人民共和国企业所得税法》 规定的居民企业股东（含机构投资者），其现金股息所得税由其自行 缴纳，每股实际发放现金股息人民币 4.20 元。 （2）其他北银优 2 股东现金股息所得税的缴纳，根据相关 ...

Group 1 - The chairman of Zhongjia Fund, Xia Yuanyang, has resigned due to work arrangements, and Yang Lin, the head of the Publicity Department and Brand Management Department of Beijing Bank, will take over the position [1] - Beijing Bank is the largest shareholder of Zhongjia Fund, holding a 44% stake [1] - In 2024, Zhongjia Fund achieved a net profit of approximately 252 million yuan, representing a year-on-year growth of about 5.76% [1]

Core Viewpoint - Shenzhen banks have collectively issued statements targeting the misconduct of loan intermediaries, specifically addressing the actions of a consulting service agency named Xin Xin Hui Lin [1][5][17]. Group 1: Bank Responses - Nearly 20 banks in Shenzhen, including major institutions like Bank of China and Agricultural Bank of China, have released statements disavowing any partnership with the intermediary Xin Xin Hui Lin [1][5]. - The Bank of China emphasized that it does not charge intermediary fees or any related costs in its loan business [3]. - Postal Savings Bank of China highlighted that some intermediaries are using false advertisements to claim partnerships with banks, urging the public to be cautious of misleading loan offers [5][7]. Group 2: Intermediary Misconduct - Xin Xin Hui Lin has been accused of falsely advertising itself as a bridge between banks and communities, claiming to improve loan approval rates while charging various fees [7][9]. - The agency reportedly displayed logos of over 20 banks, misleading customers into believing it had strategic partnerships with these institutions [9][12]. - The actual control of Xin Xin Hui Lin is held by Gui Yaolin, who has registered multiple companies under the "Hui Lin" name, indicating a potential pattern of misconduct [12][14]. Group 3: Regulatory Response - The collective statements from banks were reportedly made in response to requests from Shenzhen's financial regulatory authorities, aiming to protect consumer rights and clarify the situation [5][7]. - The intermediary acknowledged its mistakes in using bank logos and stated it has undertaken corrective measures, asserting that it does not have any partnerships with financial institutions [17].