Investment Rating - The industry investment rating is "Positive" and maintained [8] Core Insights - As of the week ending May 30, the banking index has increased by 0.1%, outperforming the CSI 300 index by 1.2% and the ChiNext index by 1.5%. The market's focus on bank stocks has notably increased due to active fund allocation, with a continued upward trend in the sector, particularly for city commercial banks with relatively strong performance [3][14] - The growth rate of real estate loans has turned positive for the first time since the end of Q3 2023, with a year-on-year increase of 0.04% as of the end of March, primarily driven by a recovery in mortgage demand. In Q1, new personal housing loans amounted to 2,144 billion, a year-on-year increase of 2,093 billion, mainly due to a rebound in second-hand housing sales and improved early repayments [4][30] - Recently, the inclusion of Chongqing Rural Commercial Bank and Shanghai Rural Commercial Bank into the CSI 300 index is expected to attract more index funds, providing a positive outlook for these constituent stocks [5][44] - The focus on convertible bond banks is increasing, with significant valuation recovery and trading opportunities. Hangzhou Bank's stock price has risen significantly after triggering the strong redemption clause for its convertible bonds, indicating high investor confidence [6][44] Summary by Sections Banking Sector Performance - The banking index has shown a cumulative increase of 0.1% as of May 30, outperforming the CSI 300 index by 1.2% and the ChiNext index by 1.5% [3][14] - Individual stocks such as Hangzhou Bank have led the gains, with its stock price reaching a new high after the convertible bond triggered strong redemption conditions [3][14] Loan Trends - The growth rate of real estate loans has turned positive, with a year-on-year increase of 0.04% as of the end of March, driven by a recovery in mortgage demand [4][30] - In Q1, new personal housing loans totaled 2,144 billion, a year-on-year increase of 2,093 billion, attributed to improved second-hand housing sales and early repayments [4][30] Index Adjustments - Chongqing Rural Commercial Bank and Shanghai Rural Commercial Bank have been included in the CSI 300 index, effective June 13, 2025, which is expected to lead to increased capital inflow into these stocks [5][44] Convertible Bonds - The focus on banks issuing convertible bonds has intensified, with Hangzhou Bank's stock price showing significant gains after the strong redemption clause was triggered [6][44]

Investment Rating - The investment rating for the banking industry is "Positive" and maintained [11] Core Insights - The banking index increased by 0.1% as of May 30, 2025, outperforming the CSI 300 index by 1.2% and the ChiNext index by 1.5%. The market's focus on bank stocks has increased significantly due to active fund allocation, with a continued upward trend in the sector, particularly for city commercial banks with relatively strong performance [2][6][19] - The growth rate of real estate loans turned positive for the first time since Q3 2023, with a year-on-year increase of 0.04% as of the end of March. This was primarily driven by a recovery in mortgage demand, with new personal housing loans amounting to 2,144 billion, a year-on-year increase of 2,093 billion [7][34][40] - The inclusion of Chongqing Rural Commercial Bank and Shanghai Rural Commercial Bank into the CSI 300 index is expected to attract more index funds, providing a positive outlook for these constituent stocks [8][47] Summary by Sections Market Performance - As of May 30, 2025, the banking index has shown a cumulative increase of 0.1%, with significant gains in city commercial banks like Hangzhou Bank, which saw its stock price rise after triggering a strong redemption condition for its convertible bonds [2][6][19] Loan Trends - In Q1 2025, the growth of corporate medium and long-term loans decreased, with industrial loans adding 1.52 trillion, down 140 billion year-on-year, and service sector loans adding 2.99 trillion, down 550 billion year-on-year. However, personal housing loans saw a significant increase, indicating a recovery in the housing market [7][34][40] Index Adjustments - The adjustment of the CSI 300 index, which includes Chongqing Rural Commercial Bank and Shanghai Rural Commercial Bank, is expected to lead to increased capital inflow into these stocks, enhancing their market performance [8][47] Convertible Bonds - The recent surge in bank stocks has narrowed the price gap to the strong redemption price for banks issuing convertible bonds. Hangzhou Bank's stock price has remained above the strong redemption price for 15 consecutive trading days, indicating strong investor confidence [9][48]

Group 1 - The National Cybersecurity Incident Response Center detected 63 mobile applications that illegally collect and use personal information [1] - The "Xiamen Bank Enterprise Banking" app (version 8.0.0) failed to clearly inform users about its privacy policy and the handling of personal information [1] - The "Ximalaya" app (version 6.1.1.01) did not adequately disclose the purposes, methods, and scope of personal information collection [2] Group 2 - The previous report identified 65 problematic mobile applications, with 16 still having issues upon retesting, leading to their removal from distribution platforms [2] - Xiamen Bank, established in 1996, is the first city commercial bank in mainland China with Taiwanese capital and is listed with stock code 601187.SH [2] - The largest shareholder of Xiamen Bank is the Xiamen Municipal Finance Bureau, holding 19.18%, while the second largest is Fubon Financial Holding from Taiwan, holding 18.03% [2] Group 3 - Ximalaya, founded in 2012, is a popular online audio sharing platform that offers a wide range of audio content for users of all ages, totaling 340 million audio pieces across 101 categories [3]

作 者丨林秋彤 编 辑丨曾芳 低利率环境下，银行股股息率"逆势而上"。 据wind数据，截至5月28日最新收盘， 42家A股上市银行中有15家银行的股息率已自2023年至今连续上升。 例如，南京银行2023年、2024年 和最新收盘的股息率分别为4.92％、5.11％、7.67％；江苏银行2023年、2024年和最新收盘的股息率分别为4.32％、4.78％、7.13％；渝农商 行2023年、2024年和最新收盘的股息率分别为3.95％、4.17％和6.60％。 此外，平安银行、民生银行、厦门银行和北京银行等，其股息率已经突破7％，且较今年年初有大幅上涨。截至最新收盘，上述几家银行股息 率分别为8.40％、8.10％、7.26％和7.02％，较2024年末分别上涨了3.11、3.60、2.36和1.91个百分点。 整体来看，42家A股上市银行中共有21家银行的最新收盘股息率较去年末有所上涨，有9家银行与去年末有所持平。 银行股走势稳健 与股息率"逆势而上"相对应的，是银行股走势稳健延续。 记者梳理发现，15家股息率连续上涨的银行中，除兰州银行和苏州银行外，其余13 家银行2024年全年股价涨幅均超过了40％。 ...

厦门银行股份有限公司 厦门银行股份有限公司（以下简称"公司"）第九届监事会第十三次会议通 知于 2025 年 5 月 16 日以电子邮件方式发出，会议于 2025 年 5 月 28 日在厦门以 现场会议方式召开，由王建平监事长召集并主持。本次会议应出席的监事 6 人， 亲自出席会议的监事 6 人。公司高级管理人员列席了会议。本次会议的召集、召 开程序符合《中华人民共和国公司法》等法律法规和《厦门银行股份有限公司章 程》的有关规定。 证券代码：601187 证券简称：厦门银行 公告编号：2025-027 第九届监事会第十三次会议决议公告 厦门银行股份有限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 担法律责任。 表决结果：以 6 票赞成，0 票反对，0 票弃权获得通过。 二、审议并通过《关于制定<厦门银行股份有限公司互联网贷款风险管理制 度>的议案》 表决结果：以 6 票赞成，0 票反对，0 票弃权获得通过。 本次会议还听取了《厦门银行股份有限公司关于 2024 年度小微企业金融服 务监管评价结果的报告》。 与会监事对议案进行了审议，形成如 ...

Core Viewpoint - The competition in consumer loans among banks has shifted from a focus on low interest rates to enhancing loan limits and extending loan terms, as banks seek to adapt to changing market conditions and regulatory guidance [1][11][15] Consumer Loan Growth - In 2024, the total consumer loan balance of 40 A-share listed banks increased by over 950 billion yuan, with some banks experiencing growth rates exceeding 90% compared to the previous year [1][3] - The consumer loan balance for these banks reached approximately 6.06 trillion yuan by the end of 2024, marking an increase of 957.85 billion yuan from the previous year [3][4] Interest Rate Trends - Consumer loan interest rates dropped to the "2" range, with some banks offering rates as low as 1.88% for select customers, but this trend has reversed with many banks raising rates to no less than 3% by April 2024 [1][9][10] - The shift back to "3" range interest rates is aimed at preventing excessive competition and potential financial risks associated with low-rate loans [10][11] Bank Strategies - Banks are now focusing on enhancing consumer loan products by increasing limits and extending terms, responding to government initiatives to boost consumption [11][12] - Various banks have begun to raise loan limits and extend repayment periods, with some institutions increasing the maximum loan amount from 300,000 yuan to 500,000 yuan and extending terms from five to seven years [12][16] Market Segmentation - The consumer loan market is showing significant differentiation, with some banks rapidly expanding their loan portfolios through low-rate strategies, while others are contracting due to concerns over rising non-performing loan rates [5][10] - Banks are increasingly targeting specific consumer scenarios, such as home renovations and electric vehicle purchases, to drive loan growth [15][16] Risk Management - The rise in consumer loan balances has led to an increase in non-performing loans, prompting banks to enhance their risk management practices and focus on quality customer segments [9][10][14] - Regulatory bodies are emphasizing the need for banks to monitor the flow of consumer loan funds to mitigate systemic risks [14]

Investment Rating - The report indicates a positive outlook for the banking sector, suggesting that certain stocks may have alpha potential due to policy catalysts and a cyclical recovery [4]. Core Insights - Multiple banks have lowered their deposit rates, with the one-year and five-year Loan Prime Rate (LPR) reduced by 10 basis points on May 20, 2025. This trend reflects a broader market-driven decline in deposit costs [1][2]. - The average deposit cost rate for China Merchants Bank decreased significantly by 25 basis points to 1.29% in Q1 2025, indicating a trend of improving deposit costs across the sector [1]. - The report highlights that banks like Chongqing Bank, Minsheng Bank, and CITIC Bank have substantial room for further deposit cost reductions, suggesting a favorable environment for banks to optimize their funding costs [2]. Summary by Sections Section 1: Focus of the Week - Several banks have adjusted their deposit rates downward, with over half of listed banks participating in this trend by May 24, 2025 [1]. - The report notes that the average deposit cost rate for China Merchants Bank has shown improvement since Q2 2024, aligning with previous forecasts of enhanced cost reduction in liabilities [1]. Section 2: Sector Perspective - The banking sector is expected to benefit from expansionary policies aimed at stabilizing the economy, with specific banks like Ningbo Bank, Postal Savings Bank, and China Merchants Bank highlighted as potential investment opportunities [4]. - The report emphasizes that the cyclical recovery may take time, but the ongoing interest rate cuts could sustain the dividend strategy for banks like Shanghai Bank and Jiangsu Bank [4]. Section 3: Key Data Tracking - The report tracks various financial metrics, including the issuance of interbank certificates and the average rates for different types of bank notes, indicating a dynamic market environment [9][8]. - It also notes the increase in the proportion of deposits with a remaining maturity of less than one year, which rose by 3 percentage points to 37.4% by the end of 2024, suggesting a trend towards concentrated deposit maturities [2][16].

Group 1: Market Overview - A-share market showed increased structural differentiation on May 22, with high-position thematic stocks retreating and the North China 50 Index dropping over 6% [2] - The Shanghai Composite Index closed down 0.22% at 3380.19 points, while the Shenzhen Component Index fell 0.72% to 10219.62 points, and the ChiNext Index decreased by 0.96% to 2045.57 points [2] Group 2: Bank Sector Performance - Bank stocks rose against the market trend, with several banks like Pudong Development Bank, Jiangsu Bank, and Chengdu Bank reaching historical highs, while others like Qingdao Bank and CITIC Bank increased by over 2% [3] - Major state-owned banks and several others lowered RMB deposit rates on May 20, which is expected to positively impact net interest margins and allow banks to increase government bond allocations to support the real economy [3][4] - The valuation recovery logic driven by bank stock dividends is expected to continue, with limited downward pressure on net interest margins and stable performance anticipated [3] Group 3: High-Position Stock Dynamics - High-position stocks have become a market focus amid fluctuations, with stocks like Nanjing Port experiencing significant volatility, including a 7.21% increase after a drop [4] - Over 80 stocks have doubled in price this year, primarily in sectors like restructuring, price increases, robotics, AI, and new consumption, although many of these are small-cap stocks with poor performance [4][5] Group 4: Valuation Concerns - Some doubling stocks, such as Zhongyida, have been flagged for high valuations despite significant price increases, with a cumulative rise of 252.61% while the company remains in a loss position [5] - The market is expected to continue a volatile trend with low trading volumes, and structural opportunities may arise in sectors like export industry chains, domestic demand expansion, high dividend yields, and mergers and acquisitions [5]

厦门银行股份有限公司 2024 年度股东大会会议材料 （股票代码：601187） 中国·厦门 2025 年 6 月 3 日 1 文件目录 | 会议议程 | | | 4 | | --- | --- | --- | --- | | 会议须知 | | | 5 | | 议案 1 厦门银行股份有限公司关于 2024 年度董事会工作报告的议 | | | | | 案 | | | 8 | | 议案 厦门银行股份有限公司关于 年度监事会工作报告的议 | 2 | 2024 | | | 案 | | | 15 | | 议案 厦门银行股份有限公司关于 年年度报告及其摘要的议 | 3 | 2024 | | | 案 | | | 21 | | 议案 厦门银行股份有限公司关于 年度财务决算报告的议案 | 4 | 2024 | | | | | | 22 | | 议案 厦门银行股份有限公司关于 年度利润分配方案的议案 | 5 | 2024 | | | | | | 25 | | 议案 厦门银行股份有限公司关于提请股东大会授权董事会决定 | 6 | | | | 2025 年中期利润分配方案的议案 | | | 27 | | 议案 厦门银行股份有限公司关 ...

Core Viewpoint - The article highlights the active performance of the defense and military industry, with significant stock price increases in related companies, driven by geopolitical tensions and government policies supporting military spending [20][21]. Defense and Military Industry - The defense and military sector showed strong performance, with stocks like Guoke Tiancai rising by 20%, and several others reaching their daily limit [4][7]. - The U.S. announcement of a $175 billion investment in missile defense systems has raised concerns about escalating military competition, which may benefit the defense sector in China [19]. - China's recent white paper on national security emphasizes the importance of maintaining territorial integrity and enhancing military capabilities, which supports the growth of the defense industry [20]. Banking Sector - The banking sector experienced a collective rise, with banks like Qingdao Bank and Shanghai Bank reaching new all-time highs [23][24]. - Recent adjustments in the Loan Prime Rate (LPR) and deposit rates are expected to impact the banking sector positively, with a focus on stabilizing growth and improving asset quality [26]. - Analysts predict that the banking sector will benefit from a series of financial policies aimed at supporting economic recovery, leading to a potential performance turnaround [26].