Group 1 - High dividend stocks, particularly in the banking sector, experienced a significant increase on November 4, with the value ETF (510030) rising by 1.01% [1][4] - Major banks such as CITIC Bank and Shanghai Bank saw their shares rise over 3%, while others like China Merchants Bank and Industrial and Commercial Bank of China increased by over 2% [1][4] - The 180 Value Index, which the value ETF tracks, has outperformed major indices like the Shanghai Composite Index and CSI 300 since October, with a cumulative increase of 5.99% compared to 1.99% and -0.47% respectively [1][3] Group 2 - Insurance capital has been increasingly investing in bank stocks, with notable increases in holdings by companies like China Life Insurance and Dajia Life Insurance in various banks [4] - The banking sector is the largest weight in the 180 Value Index, accounting for 47.5% as of the end of October 2025 [5] - Analysts suggest that the fourth quarter of 2025 may be a critical time for investing in dividend stocks, as low valuations and increased demand for quality stocks with high dividend yields are expected [7] Group 3 - The 180 Value Index includes high dividend and low valuation blue-chip stocks, with significant representation from the banking sector, including leading financial institutions [7] - The index is designed to select the top 60 stocks based on value factor scores from the Shanghai 180 Index, emphasizing the defensive attributes of its constituents during volatile market conditions [7]

Core Insights - The banking sector in the Yangtze River Delta is experiencing a different trend compared to the overall slowdown in loan growth, with several city commercial banks showing double-digit asset growth [1][3] Group 1: Loan Growth - As of the end of Q3, several city commercial banks in the Yangtze River Delta reported significant asset growth: Jiangsu Bank at 4.93 trillion yuan (up 24.68%), Ningbo Bank at 3.58 trillion yuan (up 14.50%), and Nanjing Bank at 2.96 trillion yuan (up 14.31%) [1] - The overall loan growth for all A-share listed banks was 7.70% year-on-year, with city commercial banks leading at 12.86% [1][2] - Specific banks like Jiangsu Bank and Ningbo Bank reported loan growth rates exceeding 17% in Q3, driven primarily by corporate loans [3][5] Group 2: Corporate Loans - Corporate loans have significantly increased, with Ningbo Bank's corporate loan growth reaching 32.10% in Q3, the highest among peers [5] - The proportion of corporate loans in total loans has risen for many banks, with Jiangsu Bank's corporate loans making up 67.38% and Nanjing Bank's at 76.03% [4][5] - The focus on corporate loans, particularly in technology sectors, has been emphasized by several banks, with notable increases in technology-related loan disbursements [6][8] Group 3: Revenue and Profitability - The total revenue for six city commercial banks in the Yangtze River Delta reached 243.6 billion yuan in Q3, a year-on-year increase of 6.41%, while net profit grew by 8.36% to 111.2 billion yuan [7] - Jiangsu Bank reported a revenue of 67.18 billion yuan and a net profit of 30.58 billion yuan, both showing positive growth [7] - Wealth management and retail banking segments are showing signs of recovery, contributing to the overall revenue growth [8] Group 4: Investment Income - Investment income has been under pressure due to rising interest rates and market volatility, with the fair value changes of financial assets showing negative results [9][10] - Shanghai Bank reported the highest investment income at 16.77 billion yuan, but also faced significant losses in fair value changes [11]

Core Viewpoint - Bank stocks continue to rise, with Shanghai Bank increasing by over 2% and several other banks, including Chongqing Bank, CITIC Bank, Agricultural Bank, China Merchants Bank, Qilu Bank, and Postal Savings Bank, rising by over 1% [1] Group 1 - Shanghai Bank's stock price increased by more than 2% [1] - Chongqing Bank, CITIC Bank, Agricultural Bank, China Merchants Bank, Qilu Bank, and Postal Savings Bank each saw stock price increases of over 1% [1]

上海银行表示，自公司章程修订获核准之日起，该行监事会依法撤销，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、丁兵和张磊 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，丁兵和张磊任职监事期间 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。 北京商报讯（记者 宋亦桐）11月4日，上海银行发布公告指出，该行于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，上海银行收到《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。 ...

- The "Expected High Dividend Portfolio" model is constructed using a two-stage process: first, calculating the dividend yield based on annual report profit distribution data, and second, predicting and calculating the dividend yield using historical dividend data and fundamental indicators. Additionally, two short-term factors, the reversal factor and the profitability factor, are used to assist in stock selection. The portfolio is optimized within the CSI 300 constituents, holding 30 stocks per period and rebalancing monthly[3][8][13] - The stock selection process for the "Expected High Dividend Portfolio" involves: (1) excluding suspended and limit-up stocks from the CSI 300 constituents, (2) removing the top 20% of stocks with the highest short-term momentum (21-day cumulative returns), (3) excluding stocks with declining profitability (quarterly net profit growth rate < 0), and (4) ranking the remaining stocks by expected dividend yield and selecting the top 30 stocks to construct an equally weighted portfolio[9][13] - The backtesting results of the "Expected High Dividend Portfolio" from February 2, 2009, to August 31, 2017, show a cumulative return of 358.90% relative to the CSI 300 Total Return Index, with a cumulative excess return of 107.44%. The annualized excess return is 8.87%, the maximum rolling one-year drawdown of excess return is 12.26%, and the monthly excess win rate is 60.19%[11] - In October 2025, the "Expected High Dividend Portfolio" achieved an average return of 5.47%, outperforming the CSI 300 Index by 5.93% and the CSI Dividend Index by 2.50% during the same period[3][14][19]

上海银行股份有限公司 股东会议事规则 （2025年修订） 目 录 第一章 总 则 第二章 股东会的职权和授权 第三章 股东会程序 上海银行股份有限公司股东会议事规则 第一章 总 则 第四章 会后事项 第五章 附 则 1 第一节 股东会的召开方式 第二节 股东会的召集 第三节 股东会的提案 第四节 股东会的通知 第五节 股东会的出席与登记 第六节 股东会的召开 第七节 股东会的表决、决议和会议记录 第一条 为完善上海银行股份有限公司（以下简称本行）公司治理，保障股 东依法行使权利，确保股东会高效规范运作和科学决策，根据《中华人民共和国 公司法》（以下简称《公司法》）、《中华人民共和国商业银行法》《中华人民共和 国证券法》（以下简称《证券法》）、《银行保险机构公司治理准则》《上市公司治 理准则》《上市公司股东会规则》等有关法律、法规和《上海银行股份有限公司 章程》（以下简称本行章程）的有关规定，结合本行实际，制定本议事规则。 第二条 股东会由本行全体股东组成，依法行使法律、法规及本行章程规定 的各项职权。 第三条 本议事规则对本行及本行股东及其代理人、董事、高级管理人员和 列席股东会的其他有关人员均具有约束力。 ...

上海银行股份有限公司 章 程 （2025年修订） | 第一章 | 总 | 则 | 2 | | --- | --- | --- | --- | | 第二章 | | 经营宗旨和范围 | 3 | | 第三章 | 股 | 份 | 3 | | 第一节 | | 股份发行 | 4 | | 第二节 | | 股份增减和回购 4 | | | 第三节 | | 股份转让 | 6 | | 第四章 | 党 | 委 | 6 | | 第五章 | | 股东和股东会 | 7 | | 第一节 | | 股东的一般规定 7 | | | 第二节 | | 控股股东和实际控制人 12 | | | 第三节 | | 股东会的一般规定 13 | | | 第四节 | | 股东会的召集 14 | | | 第五节 | | 股东会的提案与通知 15 | | | 第六节 | | 股东会的召开 16 | | | 第七节 | | 股东会的表决和决议 18 | | | 第六章 | | 董事会 | 21 | | 第一节 | | 董事的一般规定 21 | | | 第二节 | | 独立董事 | 25 | | 第三节 | | 董事会 | 29 | | 第四节 | | 董事长 | 33 ...

上海银行股份有限公司 董事会议事规则 （2025年修订） 目 录 第一章 总 则 1 第一节 会议的召开方式 第二节 会议议案的形成 第三节 会议通知和会前沟通 第四节 会议的出席 第五节 会议的召开 第六节 会议的表决和决议 第七节 会议记录 第三章 会议决议的执行和董事会的授权 第四章 附 则 上海银行股份有限公司董事会议事规则 第一章 总 则 第一条 为完善上海银行股份有限公司（以下简称本行）治理结构，规范董 事会议事方式和决策程序，保障董事会依法独立、规范、有效履行职责，确保董 事会高效运作和科学决策，根据《中华人民共和国公司法》《中华人民共和国商 业银行法》《中华人民共和国证券法》《银行保险机构公司治理准则》《上市公司 治理准则》等有关法律、法规和《上海银行股份有限公司章程》（以下简称本行 章程）的有关规定，制定本议事规则。 第二条 董事会是本行常设决策机构，承担本行经营和管理的最终责任，在 法律、法规、本行章程和股东会授予的职权范围内行使职权，保护本行、股东和 债权人等利益相关者的合法权益。 第三条 董事会充分发挥下设专门委员会的作用。专门委员会向董事会提供 专业意见或者根据董事会授权就专业事项进 ...

| 证券代码：601229 | 证券简称：上海银行 | 公告编号：临2025-063 | | --- | --- | --- | | 优先股代码：360029 | | 优先股简称：上银优1 | | 可转债代码：113042 | | 可转债简称：上银转债 | 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 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 公司修改公司章程的批复》（沪金复〔2025〕699 号），修订后的公司章程已获 得核准。修订后的公司章程详见上海证券交易所网站（www.sse.com.cn）和公司 网站（www.bosc.cn）。 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 ...

Market Performance - The city commercial bank sector increased by 1.62% on November 4, with Xiamen Bank leading the gains [1] - The Shanghai Composite Index closed at 3960.19, down 0.41%, while the Shenzhen Component Index closed at 13175.22, down 1.71% [1] Individual Bank Performance - Xiamen Bank's closing price was 7.52, up 5.92% with a trading volume of 584,400 shares and a transaction value of 4.36 billion [1] - Shanghai Bank closed at 66.6, up 3.20%, with a trading volume of 1,373,200 shares and a transaction value of 1.364 billion [1] - Chongqing Bank closed at 11.20, up 3.13%, with a trading volume of 200,900 shares and a transaction value of 223 million [1] - Other notable banks include Xi'an Bank, Nanjing Bank, and Changsha Bank, with respective increases of 2.05%, 1.85%, and 1.75% [1] Fund Flow Analysis - The city commercial bank sector saw a net inflow of 280 million from main funds, while retail funds experienced a net outflow of 89.43 million [1] - Beijing Bank had a main fund net inflow of 1.47 billion, but retail funds saw a net outflow of 55.81 million [2] - Xiamen Bank recorded a main fund net inflow of 49.44 million, with retail funds experiencing a net outflow of 54.06 million [2]