证券代码：601577 证券简称：长沙银行 编号：2024-057 优先股代码：360038 优先股简称:长银优 1 长沙银行股份有限公司 关于诉讼事项的进展公告 本行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。 重要内容提示: 案件所处的诉讼（仲裁）阶段：二审； 上市公司所处的当事人地位：原告渤海国际信托股份有限公司的 委托人； 涉案的金额：借款本金5.9亿元以及按照合同约定应支付的利息、 罚息、律师费等； 是否会对上市公司损益产生负面影响：本行已对该笔贷款足额计 提了减值准备，预计本次诉讼事项不会对本行的本期利润或期后利润 造成重大影响，本行将根据案件审理情况依法履行信息披露义务。 一、诉讼的基本情况 原告渤海国际信托股份有限公司（渤海·长银第 4 期单一资金信 托计划的受托人）（以下简称"渤海信托"）就与被告宜华生活科技 股份有限公司、宜华企业（集团）有限公司、刘绍喜、王少侬、刘壮 超、胡静、刘绍香、陈奕民金融借款合同纠纷，向湖南省长沙市中级 人民法院提起了诉讼，诉讼判决情况详见本行于 2024 年 9 月 27 日在 上海 ...

[Table_MainInfo] 公司研究/金融/银行 证券研究报告 长沙银行（601577）公司季报点评 2024 年 11 月 6 日 [Table_InvestInfo] 投资评级 优于大市 维持 | --- | --- | |------------------------------------------------------|----------------| | 股票数据 | | | [ 1 Table_StockInfo 1 月 05 日收盘价（元） ] | 8.85 | | 52 周股价波动（元） 股本结构 | 6.47-9.18 | | [ 总股本（ Table_CapitalInfo 百万股） ] | 4022 | | 流通 A 股（百万股） | 4021 | | B 股 /H 股（百万股） 相关研究 | 0/0 | | [Table_ReportInfo] 《长沙银行 2023&24Q1 | 业绩点评：财富 | | 管理逆势向上，消费贷款异军突起》 | | | 2024.05.08 | | 市场表现 [Table_QuoteInfo] -10.14% -2.14% 5.86% 13 ...

Investment Rating - Maintains a "Buy" rating for Changsha Bank (601577 SH) with a 2024 P/B of approximately 0 48x [3] Core Views - Changsha Bank's Q3 2024 net interest margin (NIM) is expected to stabilize, with revenue and net profit growth improving [1] - The bank's asset quality remains stable, with a non-performing loan (NPL) ratio of 1 16% and a provision coverage ratio of 314 54% as of Q3 2024 [1] - The bank's revenue and net profit for the first three quarters of 2024 reached 19 47 billion yuan and 6 19 billion yuan, respectively, representing year-on-year growth of 3 8% and 5 9% [1] Performance Analysis - Q1-Q3 2024 revenue and net profit growth rates were 3 8% and 5 9%, respectively, showing improvement compared to H1 2024 [2] - Net interest income for Q1-Q3 2024 decreased by 0 98% year-on-year, with a slight improvement in Q3 compared to Q2 [2] - Fee and commission income for Q1-Q3 2024 decreased by 17 8% year-on-year, but the decline narrowed compared to H1 2024 [2] - Other non-interest income for Q1-Q3 2024 increased by 46 3% year-on-year, driven by increased investment in asset allocation [2] Asset Quality - The NPL ratio remained stable at 1 16% as of Q3 2024, while the special mention loan ratio increased by 22bps to 2 48% [2] - The provision coverage ratio improved to 314 54% in Q3 2024, up by 1 8 percentage points from Q2 2024 [2] - The annualized credit cost for Q1-Q3 2024 was 1 73%, slightly lower than H1 2024 [2] Asset and Liability Structure - Total assets and loans as of Q3 2024 were 1 12 trillion yuan and 543 2 billion yuan, respectively, with year-on-year growth of 10 4% and 11 3% [3] - Investment assets grew by 10 1% in Q3 2024, with a quarter-on-quarter increase of 2 4 percentage points [3] - Total liabilities and deposits as of Q3 2024 were 1 04 trillion yuan and 688 7 billion yuan, respectively, with year-on-year growth of 9 9% and 8 9% [3] Financial Projections - Expected net profit for 2024-2026 is 7 83 billion yuan, 8 32 billion yuan, and 8 85 billion yuan, with growth rates of 4 92%, 6 24%, and 6 36%, respectively [3] - Revenue growth for 2024-2026 is projected at 5 49%, 6 01%, and 6 12%, respectively [4] - Net interest margin (NIM) is expected to decline from 1 93% in 2024 to 1 65% in 2026 [8] Valuation Metrics - The 2024 P/E ratio is projected at 4 26x, with a P/B ratio of 0 48x [8] - EPS for 2024-2026 is expected to be 1 95 yuan, 2 07 yuan, and 2 20 yuan, respectively [8]

Investment Rating - The report maintains a "Buy" rating for Changsha Bank (601577 SH) [1] Core Views - Changsha Bank's profitability remains stable with a slight improvement, and the net interest margin (NIM) has shown signs of stabilization [1] - Non-interest income, particularly from financial market investments, has provided significant support [1] - The bank's asset quality remains robust, with a non-performing loan (NPL) ratio of 1 16% in Q3 2024, unchanged from H1 2024 [3] - The bank's capital adequacy ratios have improved, supported by the successful issuance of perpetual bonds [4] Financial Performance - In the first three quarters of 2024, Changsha Bank achieved revenue of 19 471 billion yuan (YoY +3 83%) and net profit attributable to shareholders of 6 187 billion yuan (YoY +5 85%) [1] - Q3 2024 net interest income was 5 057 billion yuan (YoY -1 70%), with the decline narrowing compared to Q2 2024 [1] - The bank's core tier 1 capital adequacy ratio increased to 9 93% in Q3 2024, up by 0 23 percentage points from H1 2024 [4] Asset and Liability Structure - Total assets reached 1 12 trillion yuan by the end of Q3 2024, a YoY increase of 10 37% [2] - Total loans amounted to 543 23 billion yuan, a YoY increase of 11 30%, with Q3 2024 seeing new loans of 9 638 billion yuan [2] - Total deposits reached 688 695 billion yuan, a YoY increase of 8 85%, though deposit growth slowed due to disintermediation [2] Profitability and Growth Forecast - The report forecasts net profit attributable to shareholders of 7 996 billion yuan for 2024, 8 892 billion yuan for 2025, and 10 047 billion yuan for 2026, with YoY growth rates of 7 15%, 11 20%, and 12 99% respectively [1] - The bank's ROE is expected to remain stable, with 2024-2026 ROE forecasts of 11 19%, 11 00%, and 10 98% respectively [5] Capital and Risk Management - The bank's provision coverage ratio stood at 314 54% in Q3 2024, recovering to levels above the beginning of the year [3] - Asset impairment losses for the first three quarters of 2024 were 6 485 billion yuan, a YoY increase of 2 91%, indicating room for profit replenishment [3]

2024 年 10 月 30 日 公司研究 非息收入同比高增，营收盈利增长提速 分析师：赵晨阳 执业证书编号：S0930524070005 010-57378030 zhaochenyang@ebscn.com ——长沙银行（601577.SH）2024 年三季报点评 分析师：王一峰 执业证书编号：S0930519050002 010-57378038 wangyf@ebscn.com 买入（维持） 当前价：8.29 元 资料来源：Wind | --- | --- | --- | --- | |-------|-------|-------|-------| | | | | | | | | | | | % | 1M | 3M | 1Y | | 相对 | -0.09 | -4.91 | 8.66 | | 绝对 | 5.87 | 11.57 | 18.17 | 敬请参阅最后一页特别声明 -1- 证券研究报告 作者 | --- | --- | |-----------------------|-----------| | | | | | | | | | | 市场数据 | | | 总股本 (亿股) | 40.22 | ...

Investment Rating - The report maintains a "Recommended" rating for Changsha Bank (601577.SH) [4][10]. Core Views - Changsha Bank's revenue shows a slight recovery with a steady growth in scale, achieving an operating income of 19.5 billion yuan in the first three quarters of 2024, a year-on-year increase of 3.8%, and a net profit attributable to shareholders of 6.2 billion yuan, up 5.9% year-on-year [4][7]. - The bank's annualized weighted average ROE stands at 13.12% as of the end of Q3 2024, with total assets reaching 1.12 trillion yuan, total loans at 543.2 billion yuan, and total deposits at 688.7 billion yuan [4][6]. Financial Performance Summary - **Revenue and Profit**: - Operating income for 2024 is projected to be 22.87 billion yuan, with a year-on-year growth of 9.6% [5]. - Net profit attributable to shareholders is expected to reach 6.81 billion yuan in 2024, reflecting an 8.0% year-on-year increase [5]. - **Return on Equity (ROE)**: - The ROE is forecasted to be 13.2% in 2024, slightly decreasing to 12.6% by 2026 [5]. - **Earnings Per Share (EPS)**: - EPS is projected at 1.69 yuan for 2024, increasing to 2.51 yuan by 2026 [5]. - **Price-to-Earnings (P/E) Ratio**: - The P/E ratio is expected to decline from 4.9 in 2024 to 3.3 by 2026 [5]. - **Price-to-Book (P/B) Ratio**: - The P/B ratio is anticipated to decrease from 0.61 in 2024 to 0.41 by 2026 [5]. Asset Quality and Risk Management - The non-performing loan (NPL) ratio remains stable at 1.16% as of Q3 2024, with a slight increase in the attention rate to 2.48% [9]. - The provision coverage ratio has improved to 315%, indicating strong risk mitigation capabilities [9][10]. Strategic Outlook - The report emphasizes the potential for retail business growth, supported by the robust consumer activity in Hunan province, and ongoing improvements in the bank's retail business model [10]. - The successful issuance of perpetual bonds in Q3 2024 has strengthened the bank's capital position, contributing positively to its long-term development [10].

一、长沙银行股份有限公司 2024 年第三季度报告 表决情况：同意 5 票，弃权 0 票，反对 0 票。 证券代码：601577 证券简称：长沙银行 编号：2024-056 优先股代码：360038 优先股简称：长银优 1 长沙银行股份有限公司 第七届监事会第十二次会议决议公告 本行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。 长沙银行股份有限公司（以下简称"本行"）于 2024 年 10 月 19 日以电子邮件和书面方式发出关于召开第七届监事会第十二次会议的 通知，会议于 2024 年 10 月 29 日上午在长沙银行总行 33 楼 3301 会议 室召开。会议由白晓监事长主持，会议应出席监事 5 人，实际出席监事 5 人。会议的召开符合《中华人民共和国公司法》《中华人民共和国证 券法》等法律、行政法规、部门规章、规范性文件及《公司章程》的有 关规定，会议所形成的决议合法、有效。 会议对以下议案进行了审议并表决： 三、关于长沙银行股份有限公司 2024 年三季度第三支柱信息披 露报告 表决情况：同意 5 票，弃权 0 票，反对 ...

会议对以下议案进行了审议并表决： 证券代码：601577 证券简称：长沙银行 编号：2024-054 优先股代码：360038 优先股简称：长银优 1 长沙银行股份有限公司 第七届董事会第十二次会议决议公告 本行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。 长沙银行股份有限公司（简称"本行"）第七届董事会第十二次 会议于 2024 年 10 月 29 日上午在长沙银行总行 33 楼 3315 会议室以 现场加视频方式召开。会议应出席董事 9 人，实际出席董事 8 人，董 事李孟授权委托董事长赵小中代为行使表决权。会议由董事长赵小中 主持。监事会监事长白晓，监事龚艳萍、兰萍、张学礼、朱忠福，董 事会秘书彭敬恩、首席风险官黄建良列席本次会议。会议的召开符合 《中华人民共和国公司法》《中华人民共和国证券法》等法律、行政 法规、部门规章、规范性文件及《公司章程》的有关规定，会议所形 成的决议合法、有效。 一、长沙银行股份有限公司 2024 年第三季度报告（具体内容详 见本行在上海证券交易所披露的《长沙银行股份有限公司 2024 年第 三季 ...

Financial Performance - Operating income for Q3 2024 reached CNY 6,428,103, an increase of 4.90% year-on-year[1] - Net profit attributable to shareholders was CNY 2,065,792, reflecting a growth of 9.72% compared to the same period last year[1] - Basic earnings per share for Q3 2024 stood at CNY 0.51, up by 8.51% from the previous year[2] - For the first three quarters of 2024, the bank achieved operating income of CNY 19.471 billion, a year-on-year increase of 3.83%[15] - The net profit attributable to shareholders of the listed company was CNY 6.187 billion, a year-on-year increase of 5.85%[15] - Basic earnings per share for the first three quarters of 2024 were CNY 1.54, compared to CNY 1.45 in the same period of 2023, showing an increase of approximately 6.21%[22] - Net profit for the first three quarters of 2024 was CNY 6,088,037, representing a 9.1% increase from CNY 5,580,829 in the previous year[28] Assets and Liabilities - Total assets as of September 30, 2024, were CNY 1,123,134,401, representing a 10.11% increase from the end of the previous year[2] - Total assets as of September 30, 2024, reached 1,080,395,270 thousand RMB, an increase from 979,584,847 thousand RMB at the end of 2023[26] - Total liabilities increased to CNY 1,044,809,329 thousand from CNY 951,713,564 thousand, representing a rise of approximately 9.79%[19] - The bank's total liabilities amounted to 1,005,992,393 thousand RMB, up from 915,034,765 thousand RMB at the end of 2023[27] - The bank's total equity reached CNY 78,325,072 thousand, up from CNY 68,319,379 thousand, reflecting an increase of about 14.66%[19] - The bank's equity increased to 74,402,877 thousand RMB, compared to 64,550,082 thousand RMB at the end of 2023[27] Cash Flow - Net cash flow from operating activities showed a significant decline, amounting to CNY -46,368,236, a decrease of 577.23% year-on-year[5] - Net cash flow from operating activities for the first three quarters of 2024 was -46,368,236 thousand RMB, compared to 9,716,027 thousand RMB in the same period of 2023[23] - The net cash flow from operating activities showed a significant decline, with a net outflow of CNY 47,823,300 compared to a net inflow of CNY 11,346,363 in the previous year[31] - The net cash flow from financing activities was 77,080,610 thousand RMB, significantly higher than 24,634,775 thousand RMB in the previous year[24] - The company issued bonds that generated CNY 296,769,107 in cash, contributing to a net cash inflow from financing activities of CNY 77,928,926[32] Deposits and Loans - The bank's total loans amounted to CNY 543,229,886, with normal loans making up 96.36% of the total[10] - The total principal of deposits absorbed was CNY 688.695 billion, an increase of CNY 29.838 billion, or 4.53% from the beginning of the year[15] - The total principal of loans and advances issued was CNY 543.230 billion, an increase of CNY 54.839 billion, or 11.23% from the beginning of the year[15] - Customer deposits increased to 684,842,993 thousand RMB, up from 655,421,310 thousand RMB year-over-year[27] Ratios and Coverage - The non-performing loan ratio was 1.16%, slightly up from 1.15% at the end of 2023[10] - The capital adequacy ratio was reported at 14.03%, a slight decrease from 14.09% at the end of the previous year[6] - The liquidity coverage ratio was 313.83%, indicating strong liquidity position[8] - The net stable funding ratio was 125.88%, showing a stable funding structure[9] - The non-performing loan ratio stood at 1.16%, with a provision coverage ratio of 314.54% and a loan-to-deposit ratio of 3.64%[15] Shareholder Information - The top ten shareholders held a total of 2,000,000,000 shares, with the largest shareholder, Changsha Finance Bureau, holding 676,413,701 shares, accounting for 16.82%[12] - The bank's total number of ordinary shareholders was 34,097 as of the end of the reporting period[11] - The bank's total number of preferred shareholders was 10, with the largest holding 8,400,000 shares, accounting for 14.00%[13] Investment Performance - The bank's investment income for the first three quarters was CNY 2,299,982 thousand, down from CNY 2,448,761 thousand, indicating a decrease of about 6.09%[21] - The company reported a total investment cash inflow of CNY 186,103,615, while cash outflow for investments was CNY 209,774,817, resulting in a net cash outflow of CNY 23,671,202[31] - Other comprehensive income after tax attributable to shareholders of the parent company was CNY 291,582 thousand, up from CNY 103,751 thousand, marking an increase of approximately 180.56%[22]

编号：2024-04 1 证券代码：601577 证券简称：长沙银行 长沙银行股份有限公司投资者关系活动记录表 | --- | --- | --- | |--------------|------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | | | | | | | √特定对象调研 □分析师会议 | | | | □媒体采访 □业绩说明会 | | 类别 | □新闻发布会 □路演活动 | | | | □现场参观 □其他 | | | 时间 | 2024 年 9 月 26 | 日、2024 年 10 月 11 日 | | 地点 | 长沙银行总行 | | | | | ...