证券之星消息，9月2日城商行板块较上一交易日上涨1.65%，齐鲁银行领涨。当日上证指数报收于 3858.13，下跌0.45%。深证成指报收于12553.84，下跌2.14%。城商行板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 601665 | 齐鲁银行 | 5.75 | 3.79% | 162.75万 | | 9.24亿 | | 002948 | 青岛银行 | 5.07 | 2.63% | 66.88万 | | 3.35亿 | | 002966 | 苏州银行 | 8.23 | 2.24% | 64.03万 | | 5.23亿 | | 600926 | 杭州银行 | 15.98 | 1.85% | 1 75.62万 | | 12.00亿 | | 601838 | 成都银行 | 18.53 | 1.81% | 34.80万 | | 6.42亿 | | 601009 | 南京银行 | 11.08 | 1.74% | 55.86万 | | 6.15亿 | | 60 ...

Core Viewpoint - Changsha Bank reported steady growth in its performance for the first half of 2025, with revenue increasing by 1.59% and net profit attributable to shareholders rising by 5.05%, marking the first interim dividend since its listing [2][3][10] Revenue and Profit Analysis - In the first half of 2025, Changsha Bank's operating income was 13.249 billion yuan, a year-on-year increase of 1.59%, while net profit attributable to shareholders was 4.329 billion yuan, up 5.05% [3] - The bank's net interest margin decreased to 1.87%, down 0.25 percentage points year-on-year, and net interest spread fell to 1.97%, down 0.30 percentage points [4] Income Structure - The contribution of net interest income to total revenue is declining, with net interest income at 9.659 billion yuan, down 1.74% year-on-year, accounting for 72.90% of total revenue, down from 75.37% in the same period last year [4] - Non-interest income reached 3.590 billion yuan, a year-on-year increase of 11.78%, driven primarily by investment income and net commission income, which grew by 118.82% and 14.60%, respectively [4][5] Investment Income - Investment income accounted for 88.69% of non-interest income, totaling 3.184 billion yuan, a significant increase of 118.82%, mainly due to gains from trading financial assets and other debt investments [5][6] - The balance of trading financial assets increased by 65.07% year-on-year to 182.429 billion yuan, with investment income from these assets rising by 62.31% [6][7] Market Conditions and Strategy - Despite a challenging bond market characterized by low interest rates and high volatility, Changsha Bank aims to enhance both investment scale and returns through strategic fund management [8][9] - The bank's investment strategy has shifted significantly since its listing, with investment income growing from 0.407 billion yuan in 2018 to 3.184 billion yuan in the first half of 2025, increasing its revenue share from 2.92% to 24.03% [8] Dividend Announcement - Changsha Bank's board approved a mid-term dividend plan, proposing a cash dividend of 2.00 yuan per 10 shares, totaling 804 million yuan, which represents 18.58% of net profit attributable to shareholders [10][11]

一家是"湖南人的银行"，一家是"湖南人的主办银行"。近日，湖南城商行"双雄"——湖南银行和长沙银 行，相继发布2025年上半年"成绩单"。 数据显示，长沙银行凭借稳健的经营策略与业务创新，在资产规模、盈利及资产质量上均展现出强劲的 发展韧性；湖南银行虽资产规模稳步扩张，但盈利能力与资产质量方面的隐忧不容忽视。二者的对比， 不仅揭示了各自的竞争优势与挑战，也映射出湖南地区城商行在低利率与复杂经济环境下的不同发展路 径。 资产规模：万亿与六千亿的差距 截至2025年6月末，长沙银行资产总额达12473.85亿元，湖南银行资产总额为6019.40亿元，前者资产规 模约为后者的2.07倍，体量优势明显。 从发展动能看，长沙银行依托区域经济红利与精准定位实现快速增长。长沙银行半年报显示，该行 以"立足长沙、深耕湖南、辐射广东"为战略方向，深度融入区域发展。 2025年上半年，湖南省经济呈现稳中提质、进中向好态势，动能转换与结构优化成效显著：地区生产总 值达26166.50亿元，同比增长5.6%；规模工业增加值增长8.2%，工业支撑作用凸显；社会消费品零售总 额突破1万亿元，同比增长6.2%，增速位居全国前列。 2025 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 分析师：田维韦 S0980520030002 分析师：王剑 S0980518070002 报告发布日期：2025.08.31 净利润增速提升，宣告首次中期分红 2025年上半年实现营收132.5亿元，同比增长1.6%，较一季度增速回落2.2个百分点；实现归母净利润43.3亿元，同比增长5.1%，较一季度增速提升1.2个百分点。公司中期分红率18.6%。 净息差降幅较大，但绝对值依然处在同业较好水平 2025年上半年净利息收入同比下降1.7%，较一季度增速下降3.5个百分点。上半年公司净息差1.87%，同比下降25bps。其中，贷款收益率4.56%，同比下降75bps，公司存量贷款收益率处在 对公贷款实现高增，零售端加大消费贷投放 2025年6月末不良率1.17%，与年初持平，较3月末下降1bp。其中，个人贷款不良率2.20%，较年初提升33bps；期末关注率0.69%，逾期率2.22%，较年初分别提升了69bps和43bps。零售 投资建议（略） 风险提示：宏观经济复苏不及预期会拖累公司净息差和资产质量。 我们发布了《国信证券-财报点评：长沙银行（601577 ...

城农商行中，7家银行已官宣中期分红，包括宁波银行、上海银行、上海农商行、长沙银行、张家港农商行、 常熟农商行、苏州农商行。长沙银行于今年首次推出中期分红，拟派发8.04亿元，进一步响应"一年多次分 红"政策；上海农商行中期分红金额为23.24亿元；上海银行、宁波银行分红方案均为每10股派发3元现金股 利，分红金额分别为42.63亿元和19.81亿元。 本次中期分红比例超过30%的共有4家银行，分别是上海银行、交通银行、邮储银行、沪农商行。此外，还有 不少银行的分红"红包"仍在路上。譬如，招商银行明确以半年度归属于普通股股东净利润的35%用于现金分 红，股权登记日等细节将另行公告。 此外，值得一提的是，本次实施中期分红的银行队伍再度扩容，招商银行、常熟银行、宁波银行、苏农银 行、张家港行、江阴银行和长沙银行等7家银行均为上市以来首次实施中期分红。 具体来看，六大国有银行依然稳居分红"第一梯队"。其中，工商银行以503.96亿元的分红总额领跑，每10股 派发人民币1.414元。建设银行、农业银行紧随其后，分红总额分别为486.05亿元、418.23亿元，每10股分别 派发1.858元、1.195元；中国银行、邮储 ...

Core Viewpoint - Nearly half of the 42 listed banks in A-shares will implement mid-term dividends for 2025, with 17 banks already disclosing their dividend plans, marking a significant trend in the banking sector [1][4]. Group 1: Dividend Announcements - China Merchants Bank plans to distribute a cash dividend amounting to 35% of its net profit attributable to ordinary shareholders for the first half of 2025, with distribution scheduled between January and February 2026 [1]. - Changsha Bank's board approved a mid-term dividend plan, proposing a cash dividend of 2.00 yuan (including tax) per 10 shares, totaling 804 million yuan [1]. - Ningbo Bank announced a cash dividend of 3 yuan (including tax) per 10 shares, amounting to 1.981 billion yuan, which represents 13.41% of its net profit attributable to the parent company [1]. - Su Nong Bank plans to distribute a cash dividend of 0.09 yuan (including tax) per share, totaling 182 million yuan, which is 15.42% of its net profit for the first half of 2025 [2]. - Zhangjiagang Bank intends to distribute a cash dividend of 1.0 yuan (including tax) per 10 shares, with the total amount dependent on the total share capital at the time of distribution [4]. - Jiangyin Bank's mid-term dividend proposal was approved by its board, with details disclosed alongside its half-year report [4]. - Changshu Bank's mid-term dividend plan includes a cash dividend of 0.15 yuan (including tax) per share, totaling 497 million yuan, which is 25.27% of its net profit for the first half of 2025 [4]. Group 2: Market Analysis - Analysts believe that high dividends, low valuations, and stable Return on Equity (ROE) are key factors attracting long-term capital to bank stocks [4]. - Increasing dividend ratios or frequencies can effectively enhance investor confidence and promote valuation recovery for banks [4]. - Banks' dividend policies must balance regulatory capital adequacy requirements with their own business expansion needs [4].

中国经济网北京9月1日讯近日，恒生前海基金发布关于恒生前海瑞丰混合型证券投资基金调整募集期的 公告。 公告称，恒生前海瑞丰混合型证券投资基金(A类份额基金代码024271，C类份额基金代码024272)经中 国证监会证监许可【2025】927号文准予注册，原定募集期为2025年8月18日至2025年8月29日。为满足 投资者的投资需求，根据《恒生前海瑞丰混合型证券投资基金基金合同》、《恒生前海瑞丰混合型证券 投资基金招募说明书》、《恒生前海瑞丰混合型证券投资基金基金份额发售公告》及中国证监会的有关 规定，该基金管理人恒生前海基金管理有限公司经与该基金托管人长沙银行（601577）股份有限公司协 商一致，决定将该基金募集期调整为2025年8月18日至2025年9月5日，敬请投资者留意。 该基金的拟任基金经理为胡启聪2012年8月至2014年6月就职于国信证券深圳红岭分公司，从事机构相关 业务；2014年06月至2014年09月实业企业学习深造；2014年09月至2016年12月就职于宝盈基金管理有限 公司，任投资部投资秘书。曾任恒生前海兴享混合型证券投资基金基金经理助理，尚正基金管理有限公 司研究部资深研究员， ...

Core Viewpoint - Changsha Bank reported a slight increase in revenue and a faster growth in net profit for the first half of 2025, indicating a stable financial performance despite some challenges in net interest margin and asset quality [1][2]. Financial Performance - The bank achieved an operating income of 13.2 billion, a year-on-year increase of 1.6%, and a net profit attributable to shareholders of 4.3 billion, up 5.1% year-on-year [1]. - The annualized weighted average return on equity was 12.6%, a decrease of 0.6 percentage points year-on-year [1]. - Revenue growth rates for operating income, pre-provision profit, and net profit were 1.6%, 1.9%, and 5.1% respectively, with changes from the previous quarter of -2.2, -5.4, and +1.2 percentage points [2]. Loan and Asset Growth - As of the end of Q2 2025, the bank's interest-earning assets and loans grew by 10.9% and 13% year-on-year, maintaining strong expansion [3]. - New loans totaled 57.6 billion, an increase of 12.4 billion year-on-year, with the loan-to-interest-earning assets ratio rising to 56.5% [3]. - The bank focused its lending on sectors such as leasing services, water and environmental management, and manufacturing, with significant growth in green and inclusive agricultural loans [3]. Deposit and Funding Trends - By the end of Q2 2025, interest-bearing liabilities and deposits grew by 12.6% and 11.2% year-on-year, reflecting a steady increase [4]. - The bank added 36.2 billion in deposits, a year-on-year increase of 12.5 billion, with time deposits making up 61.3% of total deposits [5]. Interest Margin and Non-Interest Income - The net interest margin (NIM) for the first half of the year was 1.87%, down 24 basis points from 2024, but the decline was less severe compared to previous quarters [5]. - Non-interest income reached 3.6 billion, growing by 11.8% year-on-year and contributing 27% to total revenue [6]. Asset Quality and Risk Management - The non-performing loan (NPL) ratio was 1.17%, showing a slight decrease, while the provision coverage ratio remained strong at 310% [7]. - The bank's capital adequacy ratios were stable, with the core tier 1 capital ratio at 9.73% [7]. Future Outlook - The bank is expected to maintain a high credit growth rate and expand its asset base, with a focus on enhancing pricing resilience in the regional market [8]. - The bank's earnings per share (EPS) forecasts for 2025-2027 are 2.02, 2.10, and 2.15, with corresponding price-to-book (PB) and price-to-earnings (PE) ratios indicating a "buy" rating [8].

Core Viewpoint - The mid-term profit distribution plans of listed banks in A-shares for 2025 show a significant increase in total dividends, reaching 237.54 billion yuan, with state-owned banks being the primary contributors [2][3][4]. Group 1: Dividend Distribution Overview - Among 42 listed banks, 17 have announced their mid-term dividend plans for 2025, with a total dividend amount of 237.54 billion yuan [2][3]. - The six major state-owned banks contributed 204.66 billion yuan, accounting for 86% of the total dividends announced by the 17 banks [3][4]. - Industrial and Commercial Bank of China leads with a dividend of 50.40 billion yuan, followed by China Construction Bank and Agricultural Bank of China with 48.61 billion yuan and 41.82 billion yuan respectively [3][4]. Group 2: Factors Influencing Dividend Decisions - The ability of state-owned banks to distribute dividends is supported by their strong capital strength, stable profitability, and ample cash flow, allowing them to maintain high dividend payouts [4][9]. - The decision to distribute dividends is influenced by a balance of capital adequacy, business expansion needs, regulatory requirements, and shareholder return expectations [4][9][10]. - Some banks, such as Zhengzhou Bank and Qingdao Rural Commercial Bank, have explicitly stated they will not distribute dividends for the first half of 2025, citing performance pressures and capital replenishment needs [8][9]. Group 3: Trends in Dividend Distribution - The trend of increasing mid-term and quarterly dividends among listed banks has been noted since the introduction of the new "National Nine Articles" policy, which encourages multiple dividend distributions within a year [2][4]. - Several joint-stock banks, including CITIC Bank and Minsheng Bank, have announced their mid-term dividend plans, with CITIC Bank aiming for a dividend payout ratio of 30.7% [4][6]. - The distribution landscape shows a clear differentiation, with some banks actively pursuing dividends while others pause due to various operational challenges [8][9].

净利润增速提升，宣告首次中期分红。2025 年上半年实现营收132.5 亿元，同比增长1.6%，较一季度增 速回落2.2 个百分点；实现归母净利润43.3 亿元，同比增长5.1%，较一季度增速提升1.2 个百分点。公 司中期分红率18.6%。 对公贷款实现高增，零售端加大消费贷投放。2025 年6 月末，资产总额1.25万亿元，贷款总额0.60 万亿 元，较年初分别增长了8.8%和10.6%。信贷行业上，半年新增信贷576 亿元，其中对公、零售和票据分 别新增585 亿元、25 亿元和-34 亿元。消费贷新增57 亿元，较年初增长7.5%，占零售贷款比重为42%， 较年初提升了2 百分点；按揭和个人经营贷余额微降，信用卡贷款余额在主动降风险偏好下压降23 亿 元，较年初下降12.5%。信贷区域上，期末长沙市外湖南省区域信贷份额达到55.0%，较年初提升了4.2 个百分点。 净息差降幅较大，但绝对值依然处在同业较好水平。2025 年上半年净利息收入同比下降1.7%，较一季 度增速下降3.5 个百分点。上半年公司净息差1.87%，同比下降25bps。其中，贷款收益率4.56%，同比 下降75bps，公司存量贷款收 ...