登录新浪财经APP 搜索【信披】查看更多考评等级 来源：银瑞社 作者：许淑敏 过去的10月份，上海银行董事长顾建忠行程十分紧凑。 仅从公开信息来看，10月28日，顾建忠出席了"第24届中国上海国际艺术节上海银行专场音乐会"，隔天，他又参加了上海银行产业研究院成立揭牌暨首批产业赛道启动仪式。 10月31日，在上海银行2025年中青年干部培训班成果展示交流会暨结业式上，顾建忠亦进行了发言。 顾建忠公开露面确实不少，前不久，他还带队走进复旦大学，开展校企座谈交流与校园招聘主题宣讲。 阔别十年回归上海银行，顾建忠刷足了存在感。 2025年5月，上海银行选举顾建忠为该行第六届董事会董事长，8月份，其董事长任职资格已获核准。上任之后，顾建忠还自费百万增持了上海银行股票，以期增强信心、维稳股价。 顾建忠与上海银行渊源颇深。1997年，顾建忠毕业于复旦大学世界经济系，毕业便加入上海银行，一干就是17年。此后，他出任上海农商行党委副书记、副董事长、执行董事、行长。 顾建忠执掌上海银行，面临的压力可不小。 近日，上海、深圳证券交易所公布了沪深两市上市公司2024-2025年度信息披露评价结果。42家A股上市银行中，只有上海银行评 ...

Core Viewpoint - The expansion of stock repurchase financing to include city commercial banks is expected, with several banks already signing loan commitment letters with listed companies [1][2]. Group 1: Loan Participation and Expansion - The stock repurchase financing program, previously limited to 21 national financial institutions, is now likely to include city commercial banks such as Beijing Bank, Shanghai Bank, Ningbo Bank, Jiangsu Bank, and Nanjing Bank [1][2]. - The People's Bank of China has included Beijing Bank in the list of banks eligible for stock repurchase financing, indicating a significant policy shift [1]. Group 2: Market Response and Company Actions - Companies like Zhijiang Biology and Baoming Technology have announced plans to utilize stock repurchase loans, with specific amounts ranging from 60 million to 120 million yuan and 700,000 yuan respectively [1][2]. - The stock repurchase financing has been positively received by companies, providing a flexible financial tool to address timing mismatches in capital availability [5][6]. Group 3: Bank Perspective and Strategy - Banks view stock repurchase loans as a way to enhance relationships with high-quality listed companies and improve customer retention [4]. - The program allows banks to apply for refinancing from the People's Bank of China, with an initial refinancing quota of 300 billion yuan at an interest rate of 1.75% [4]. Group 4: Challenges and Considerations - Some companies remain cautious about utilizing stock repurchase loans due to perceived high interest rates and a lack of suitable repurchase windows [5][6]. - The interest rates for these loans typically range from 1.75% to 2.25%, and the limitations on loan recipients may deter some companies from participating [6].

Market Performance - The city commercial bank sector increased by 0.12% on November 5, with Ningbo Bank leading the gains [1] - The Shanghai Composite Index closed at 3969.25, up 0.23%, while the Shenzhen Component Index closed at 13223.56, up 0.37% [1] Individual Stock Performance - Ningbo Bank (002142) closed at 29.09, up 0.83% with a trading volume of 306,800 shares and a transaction value of 894 million [1] - Nanjing Bank (6000000) closed at 11.65, up 0.60%, with a trading volume of 555,100 shares and a transaction value of 648 million [1] - Shanghai Bank (601229) closed at 10.04, up 0.50%, with a trading volume of 842,000 shares [1] - Other notable performances include Chengdu Bank (601838) at 17.06, up 0.35%, and Hangzhou Bank (600926) at 16.02, up 0.12% [1] Capital Flow Analysis - The city commercial bank sector saw a net inflow of 52.36 million from institutional investors, while retail investors contributed a net inflow of 89.18 million [2] - The sector experienced a net outflow of 142 million from speculative funds [2] Detailed Capital Flow for Selected Banks - Jiangsu Bank (600919) had a net inflow of 63.74 million from institutional investors, while it faced a net outflow of 46.26 million from speculative funds [3] - Chengdu Bank (601838) reported a net inflow of 63.42 million from institutional investors, with a net outflow of 57.05 million from speculative funds [3] - Ningbo Bank (002142) had a net inflow of 5.72 million from institutional investors but a significant net outflow of 43.57 million from retail investors [3]

Core Insights - The recent evaluation results of information disclosure for A-share listed banks revealed that 22 out of 42 banks received an A rating, while 20 received a B rating, with Shanghai Bank being the only institution downgraded from A to B [1][2] Group 1: Ratings Overview - Among the A-rated banks are six state-owned banks, eight major joint-stock banks, five quality city commercial banks, and three rural commercial banks [1] - The B-rated banks include one joint-stock bank (Minsheng Bank), twelve city commercial banks, and seven rural commercial banks [1] - Five banks, including Everbright Bank and Huaxia Bank, improved their ratings from B to A compared to the previous year [1] Group 2: Shanghai Bank's Performance - Shanghai Bank reported a third-quarter revenue of 13.797 billion yuan, a year-on-year increase of 3.78%, and a net profit of 4.844 billion yuan, up 4.9% [3] - For the first three quarters of 2025, the bank's revenue reached 41.14 billion yuan, growing by 4.04%, while net profit was 18.075 billion yuan, a 2.77% increase [3] - The bank's non-performing loan ratio stood at 1.18%, unchanged from the end of the previous year, with a provision coverage ratio of 254.92% [3] Group 3: Regulatory Issues - Shanghai Bank has faced significant penalties in recent years, including a fine of 28.748 million yuan for multiple violations, including account management and anti-money laundering regulations [3][4] - In 2023, the bank was penalized 98.54 million yuan for violations related to foreign exchange transactions and was also subject to fines for various operational issues across its branches [4]

Core Insights - The article highlights the top-performing stocks in the S&P China A-Share Dividend Opportunity Index, showcasing significant year-to-date gains and dividend yields for various companies [1]. Group 1: Stock Performance - Xiamen Bank (601187.SH) leads with a 5.92% increase in the latest trading session and a 36.49% year-to-date gain, along with a dividend yield of 4.37% [1]. - Jiangyin Bank (002807.SZ) follows with a 3.67% daily increase and a 22.32% year-to-date gain, offering a dividend yield of 4.08% [1]. - CITIC Bank (601998.SH) shows a 3.31% rise today and an 18.58% increase year-to-date, with a dividend yield of 4.45% [1]. - Shanghai Bank (601229.SH) has a daily increase of 3.20% and a year-to-date gain of 15.04%, boasting a high dividend yield of 8.26% [1]. - Other notable performers include Changbao Co. (002478.SZ) with a 3.19% daily increase and a 33.85% year-to-date gain, and China Merchants Bank (600036.SH) with a 2.92% daily rise and a 14.17% year-to-date increase [1]. Group 2: Dividend Yields - Shanghai Bank (601229.SH) offers the highest dividend yield at 8.26%, indicating strong returns for investors [1]. - Other companies with notable dividend yields include Semei Clothing (002563.SZ) at 9.06% and Changsha Bank (601577.SH) at 6.37% [1]. - The average dividend yield among the top 20 stocks reflects a trend towards higher returns for dividend-seeking investors [1].

Core Viewpoint - Shanghai Bank reported a revenue of 41.14 billion yuan for the first nine months of 2025, reflecting a year-on-year growth of 4.0%, with net profit attributable to shareholders reaching 18.08 billion yuan, up 2.8% year-on-year [1][2]. Financial Performance - The bank's net interest income for 9M25 was 25.12 billion yuan, showing a modest year-on-year increase of 0.5%, with a decline in growth rate compared to 1H25 [2] - Other non-interest income surged by 14.7% year-on-year to 13.13 billion yuan, benefiting from realized gains and increased investment income [2] - The effective tax rate improved, with tax expenses rising only 1.9% year-on-year in 9M25, contributing positively to performance [2] Loan Growth and Asset Quality - The loan balance at the end of 9M25 was 1.4416 trillion yuan, up 2.0% year-on-year, with a notable increase in loans to key sectors such as technology and green finance [3] - The bank's net interest margin was measured at 1.05%, slightly improving from 1.04% in 1H24, supported by optimized funding costs [3] - The non-performing loan ratio remained stable at 1.18%, indicating solid asset quality, with a provision coverage ratio of 255% [3] Investment Outlook - Shanghai Bank is well-positioned in key regions and is expected to maintain steady operations, with projected net profits for 2025-2027 of 24.29 billion, 25.42 billion, and 26.77 billion yuan, respectively [4] - The current price-to-book ratio is estimated at 0.57, 0.53, and 0.49 for the years 2025 to 2027 [4]

证券代码：601229 证券简称：上海银行 公告编号：临2025-063 自公司章程修订获核准之日起，公司监事会依法撤销，由董事会审计委员会承接《公司法》和监管制度 规定的监事会职权，与监事会运作和监事履职相关的制度同步废止。葛明先生、丁兵先生和张磊先生不 再担任公司监事及监事会相关职务，已确认与公司无不同意见，亦没有任何其他事项需要通知公司股东 或债权人，承诺将严格遵守证券监管部门关于持股及变动管理的相关要求，丁兵先生和张磊先生任职监 事期间所增持的公司股票将继续遵守自买入之日起锁定两年的承诺。公司对各位监事任职期间做出的贡 献表示衷心感谢。 特此公告。 上海银行股份有限公司 关于公司章程修订获监管机构核准及不再设立监事会的公告 上海银行股份有限公司（以下简称"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。 公司于2025年8月8日召开的2025年第一次临时股东大会审议通过了《关于撤销监事会并修订〈上海银行 股份有限公司章程〉及其附件的提案》。 近日，公司收到《国家金融监督管理总局上海监管局关于上海银行股份有限公司修改公司 ...

Core Viewpoint - Shanghai Bank has been downgraded from A to B in the recent information disclosure evaluation, becoming the only bank to experience such a downgrade, raising concerns about its compliance and transparency in operations [3][6][19]. Group 1: Information Disclosure Evaluation - The Shanghai Stock Exchange's evaluation results for 2024-2025 show that 22 out of 42 A-share listed banks received an A rating, with 5 banks improving their ratings, indicating strong industry performance in information disclosure [2][6]. - Shanghai Bank's downgrade is particularly notable as it directly affects its capital operation efficiency, losing privileges such as "exemption from post-review for temporary reports" and "priority support for refinancing" [6][19]. - The evaluation criteria focus on "normativity, effectiveness, and punishment situations," which are essential indicators of a company's compliance level [5][11]. Group 2: Regulatory Actions and Compliance Issues - The downgrade is linked to two fines imposed by the National Financial Supervision Administration for "overseas investment violations," totaling 800,000 yuan, which were issued prior to the downgrade [3][6][8]. - Shanghai Bank has faced scrutiny due to its involvement in the "E Fund whistleblower incident," where it failed to disclose specific details about its overseas investments and the nature of the violations related to the fines [3][12][17]. - The bank's management team has been criticized for not adequately addressing the compliance issues, leading to a disconnect between the execution and decision-making levels regarding information disclosure [10][11][18]. Group 3: Response and Future Outlook - In response to the downgrade, Shanghai Bank has proactively released nine new regulations aimed at improving information disclosure practices, demonstrating a commitment to rectifying the situation [3][18]. - The bank's management is encouraged to focus on enhancing compliance processes and ensuring that the new regulations are effectively implemented [18][20]. - Despite the downgrade, the bank's core fundamentals remain stable, with solid asset quality and resilient profitability, suggesting that this incident could serve as a catalyst for future improvements [20][22].

Investment Rating - The report maintains a positive outlook on the banking sector, indicating a potential return to a valuation of 1 times net asset value [4][7]. Core Insights - The banking sector has demonstrated steady performance, with a year-to-date revenue growth of 0.8% and a net profit growth of 1.5% for the first nine months of 2025, reflecting a stable regulatory environment supporting bank profitability [10][14]. - The report highlights a shift in focus from scale to balance in credit growth, with banks increasingly pursuing a "quantity-price balance" strategy [4][7]. - The cost of liabilities has improved more significantly than the decline in asset pricing, leading to a stabilization of net interest margins, which is expected to continue into the next year [4][7]. - Asset quality remains stable but shows signs of divergence, particularly with rising risks in small and micro businesses [4][7]. - The report suggests that the current dividend yield of the banking sector has returned to an attractive range, indicating a significant disconnect between stable earnings and stock holdings, which could lead to a value recovery [4][7]. Summary by Sections Performance Overview - The banking sector's performance has been characterized by a steady increase in revenue and profit, with state-owned banks showing better-than-expected stability and regional banks leading in performance [11][12][15]. - The report notes that the revenue growth of state-owned banks has turned positive, with non-interest income contributing significantly to this growth [12][15]. Credit Growth and Strategy - The report indicates a gradual abandonment of scale-driven growth, with banks focusing on achieving a balance between volume and pricing in their lending practices [4][7]. - The credit growth rate for listed banks decreased by 0.3 percentage points to 7.7% in Q3 2025, with state-owned banks maintaining a growth rate of approximately 8.5% [4][7]. Profitability and Asset Quality - The net interest margin for listed banks remained stable at 1.5%, with a slight quarter-on-quarter increase of 3 basis points in Q3 2025 [4][7]. - The overall non-performing loan ratio remained stable at 1.22%, indicating manageable risk levels across the sector [4][7]. Investment Recommendations - The report recommends focusing on leading banks and undervalued regional banks as key investment opportunities, suggesting that the recovery in valuations is supported by stable earnings and attractive dividend yields [4][7].

11月4日晚间，上海银行公告称，近日收到《国家金融监督管理总局上海监管局关于上海银行股份有限 公司修改公司章程的批复》，修订后的公司章程已获得核准。 ...