| | | 分析师 行业点评报告 · 银行业 城市更新主线明确,关注信贷和资产质量改善机遇 中央城市工作会议解读 2025年7月16日 核心观点 银行 张一纬 ☎：010-8092-7617 网: zhangyiwei_yj@chinastock.com.cn 分析师登记编码：S0130519010001 研究助理 袁世麟 网: yuanshilin_yj@chinastock.com.cn 相对沪深 300 表现图 2025-07-15 -20% 相关研究 www.chinastock.com.cn 证券研究报告 请务必阅读正文最后的中国银河证券股份有限公司免责声明 事件: 7月14-15日,中央城市工作会议举行,以推进城市更新为重要抓手, ● 大力推动城市结构优化、动能转换、品质提升等。从银行角度带来增量信贷和 资产质量改善机遇: 政策效果兑现高度依赖资金配套,拓展银行增量信贷空间:会议以城市更 ● 新为核心抓手,着力推动基础设施升级、加快构建房地产发展新模式、建设便 捷高效的智慧城市,撬动增量融资需求。今年 5月发布的《关于持续推进城市 更新行动的意见》指出要健全多元化投融资方式,包括中央预算内资金、超 ...

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].

不仅黄金，白银也"涨麻了"！ 今年以来，国际银价持续攀升。截至目前，白银价格年内累计涨幅已高达35%，显著超过黄金。7月14日，伦敦白银 现货价格盘中一度突破39美元/盎司，创14年新高。 记者注意到，作为贵金属销售"大户"，银行也于近期上架了多款白银投资产品。 多家银行趁热上架白银产品 多家银行抢抓热度，在手机App的"C位"猛推白银相关投资产品。 例如，工商银行在手机App的贵金属"近期主打"产品宣传界面的首位，已经挂上了一款名为"招财祈福银锭"，该产品 售价为755元，标注银50克。在爆款实物中，该行新品"熊猫银币"更是备受追捧，标价为5317元/套，银30克*15个，取 得了销量超7000套的佳绩，更是超越了很多黄金产品。此外，该行多克重的银元宝均已显示售罄。 在多数业内人士看来，"抢金"与"抢银"存在如此冷暖行情也与其本身投资特点不同有关。 中国银行推出了带有纪念吉祥物的三款金条，该行推出的100g*2吉祥物银条售价为3980元，50g*2吉祥物银条售价为 1980元，10g*2吉祥物银条售价则为598元。 此外，招商银行更是在贵金属搜索页面的弹窗处挂上了"招行银首饰系列"的产品宣传，以精美的项链等 ...

沪指7月16日下跌0.03%，申万所属行业中，今日上涨的有14个，涨幅居前的行业为社会服务、汽车， 涨幅分别为1.13%、1.07%。跌幅居前的行业为钢铁、银行，跌幅分别为1.28%、0.74%。银行行业位居 今日跌幅榜第二。 | 601009 | 南京银行 | -0.69 | 0.34 | -2005.15 | | --- | --- | --- | --- | --- | | 002958 | 青农商行 | -1.34 | 2.04 | -1886.43 | | 601963 | 重庆银行 | -1.18 | 0.74 | -1660.69 | | 601998 | 中信银行 | -0.58 | 0.13 | -1305.22 | | 601860 | 紫金银行 | -0.94 | 2.13 | -1123.57 | | 600908 | 无锡银行 | -1.10 | 1.15 | -713.28 | | 002839 | 张家港行 | -0.85 | 1.95 | -610.12 | | 600928 | 西安银行 | 0.00 | 0.76 | -498.62 | | 002966 | 苏州银行 | ...

Group 1 - Multiple banks in Shenzhen have issued statements regarding a loan intermediary, Xin Xin Hui Lin (Shenzhen) Consulting Service Co., Ltd., which is accused of impersonating banks to attract customers [1][3] - The involved banks include major institutions such as China Construction Bank, Industrial and Commercial Bank of China, Bank of China, Agricultural Bank of China, and others, totaling 19 banks that have released related statements [1] - Xin Xin Hui Lin claims to provide services for lowering interest rates and has been promoting itself as a "lower interest station," despite banks denying any partnership with the intermediary [3][4] Group 2 - Regulatory authorities have intervened in the investigation of the loan intermediary's practices, which included misleading advertisements claiming partnerships with various banks [2][4] - Recent regulatory actions have intensified scrutiny on loan assistance platforms, with the Ningxia local financial management bureau revoking the operating qualifications of seven loan intermediaries [4] - A notice was issued by regulatory bodies in April to strengthen the management of internet loan assistance services, set to take effect on October 1 [5]

转自：新华财经 编辑：赵鼎 海南绿发科技集团子公司绿发金科信息技术有限公司（以下简称"绿发金科"）近日依托自主研发的"可 持续发展国际服务平台"，成功协助北京信诺达泰思特科技股份有限公司高效完成企业可持续发展信息 披露，并据此获得中国工商银行基于该披露审核结果发放的专项贷款。这标志着全国首笔直接依据财政 部等9部门《企业可持续披露准则——基本准则（试行）》信息披露质量提供的商业贷款正式落地，为 绿色金融创新服务实体经济高质量发展开辟了新路径。 登录新浪财经APP 搜索【信披】查看更多考评等级 可持续发展国际服务平台是绿发金科基于财政部等9部门《企业可持续披露准则——基本准则（试 行）》核心框架与具体要求开发的企业可持续披露平台，为企业提供便捷、规范的信息披露渠道，免费 生成可持续发展报告，并通过智能化工具辅助数据填报、校验与分析，成为企业践行可持续发展的"一 站式"服务窗口。未来，绿发金科将继续在财政部等相关部门的指导下，深化平台服务能力，助力更多 企业实现可持续发展转型。（叶文华） 本次创新实践得到了财政部会计司及北京市财政局的高度重视与指导。北京市财政局围绕财政部等9部 门《企业可持续披露准则——基本准则 ...

各位投资者朋友大家下午好我是华安特略组分析师陈博近期市场对于银行板块关注度很高我们希望从多个角度对银行上涨的逻辑支撑然后未来的持续性角度对其做出一些详细的拆解所以我们未来会推出围绕银行多个问题探讨的系列报告那么我们将这个系列报告命名为银行放大镜系列今天给大家汇报该系列的第一篇报道银行股市率即将显著提升 这份报告主要是为了要探讨未来半年左右银行板块补息率的潜在变动幅度以及变化的时间节点那么核心结论是我们在转中期内仍然看好银行板块补息率整体维持在5%左右的一个水平并且有一个较强的支撑性那么接下来我们会从银行的主要分红方式银行的分红时间然后分红对补息率的具体影响三个方面进行拆解那么首先 我们从银行的派系方式去给大家做一个讲解通常来说上市公司分红有两种形式一种是发放现金股利的方式那么另外一种是股票股利比如说手上持有多少股然后以增发多余的股票为主那么上市公司其实可以根据实际情况选择其中的一种或者同时使用两种方式进行分红 那么我们其实可以看到就是从2022年到2024年银行公布的中报和年报中间实际上在42家A股上市银行中只有郑州银行在2023年采用了一次美股转赠的方式进行分红那么其余所有的上市银行的分红方式都是以派系为主 ...

Core Viewpoint - Retail banking is a crucial focus for commercial banks' transformation, facing challenges in 2024, but remains a key growth engine under policies promoting domestic demand and consumption [1] Retail Customer Situation - In 2024, 29 listed banks reported over 4.6 billion retail customers, an increase of 120 million from 2023, indicating intense competition in personal financial services [2] Retail Deposits and Loans - By the end of 2024, household deposits reached 152.3 trillion yuan, a 10% year-on-year increase, with 57 listed banks reporting retail deposits totaling 109 trillion yuan, accounting for 71.5% of the industry [5] - All 57 banks reported an increase in personal deposit scale, with the highest growth exceeding 30%. For instance, the average cost rate of retail customer deposits for China Merchants Bank was 1.44% [5] - The total amount of household loans was 82.8 trillion yuan, growing by 3% year-on-year, with retail loans from 57 listed banks totaling 64 trillion yuan, representing 77% of the industry [7] Retail Loan Structure - Among 59 sample banks, 29 saw an increase in personal housing loans, with some banks like Zheshang Bank and Guizhou Bank exceeding 10% growth. Consumer loans also saw significant increases, with some banks reporting over 40% growth [10] Retail Business Income - Of the 55 banks reporting retail line performance, 24 experienced year-on-year growth in retail business income, while 19 saw profit increases. However, half of the banks reported increased credit impairment losses, with the highest increase reaching 180% [12] - Interest income remains the primary source of retail business revenue, averaging 90% of total income, with many banks relying on inter-departmental interest income to support retail loan growth [12] Retail Business Risk - Most listed banks reported retail business non-performing loan ratios between 1% and 3%, with some city commercial banks nearing 5%. Housing loans showed the best asset quality, while risks in operating loans from regional banks need attention [14]

Core Insights - The Cross-Border Payment System has expanded to 17 banks in Hong Kong within a month of its launch, enhancing connectivity between mainland China's online payment system and Hong Kong's Fast Payment System [1][2] - The system offers advantages over traditional cross-border remittances, including instant transfers, simplified documentation, lower costs, and ease of use [1] - The initial participating banks include six from mainland China and six from Hong Kong, with an additional eleven Hong Kong banks recently added to the system [1][3] Summary by Category Participating Institutions - The first batch of participating mainland banks includes: Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, China Construction Bank, Bank of Communications, and China Merchants Bank [1][3] - The first batch of participating Hong Kong banks includes: Bank of China (Hong Kong), Bank of East Asia, China Construction Bank (Asia), Hang Seng Bank, HSBC, and ICBC (Asia) [1][3] - The second batch of newly added Hong Kong banks includes: CMB Wing Lung Bank, Shanghai Commercial Bank, CITIC Bank International, Chuangxin Bank, Dah Sing Bank, Guangfa Bank, China Everbright Bank, Nanyang Commercial Bank, ZA Bank, Airstar Bank, and MOX Bank [1][3] Digital Banking Inclusion - This expansion marks the first inclusion of digital banks in the Cross-Border Payment System, with MOX Bank, ZA Bank, and Airstar Bank being notable participants [2][3] User Experience and Limitations - Some newly added banks have not yet officially opened cross-border payment services to customers, leading to mixed experiences among users [4] - The system supports bilateral currency and RMB cross-border remittance between mainland China and Hong Kong, with specific limits on transaction amounts [4][5] Transaction Limits - For northbound transactions, the limit is set at HKD 10,000 per person per day and HKD 200,000 per year, while southbound transactions are subject to an annual foreign exchange limit of USD 50,000 [4][5]

Group 1 - The core viewpoint of the articles emphasizes the proactive measures taken by the Industrial and Commercial Bank of China (ICBC) Yulin Branch to support small and micro enterprises through loan renewals, thereby contributing to local economic stability [1][2] Group 2 - As of June 30, 2025, the bank has renewed loans for over 500 small and micro enterprises, with a total amount exceeding 900 million yuan, an increase of over 600 million yuan compared to the same period last year [1] - The bank has implemented a precise service approach to alleviate financing difficulties for enterprises, including on-site visits to businesses and tailored renewal plans for eligible companies [1] - The bank has introduced an innovative service model for loan renewals, combining online applications with offline approvals, significantly improving the speed of loan processing [1][2] Group 3 - The bank has expanded its product offerings to meet the diverse and personalized financing needs of small and micro enterprises, utilizing internet and big data technologies to promote various loan products [2] - The bank aims to optimize loan service models based on the operational characteristics and risk profiles of small and micro enterprises, enhancing the coverage of credit funds [2] - Future plans include continued exploration of innovative financial services to further support the stable development of small and micro enterprises in alignment with national financial policies [2]