Market Overview - On September 22, the city commercial bank sector declined by 1.17%, with Hangzhou Bank leading the drop [1] - The Shanghai Composite Index closed at 3828.58, up 0.22%, while the Shenzhen Component Index closed at 13157.97, up 0.67% [1] Individual Bank Performance - Hangzhou Bank's closing price was 15.06, down 2.27% with a trading volume of 765,900 shares and a transaction value of 1.159 billion yuan [1] - Chengdu Bank closed at 17.15, down 2.17%, with a trading volume of 367,300 shares [1] - Suzhou Bank closed at 8.01, down 1.72%, with a trading volume of 389,400 shares [1] - Ningbo Bank closed at 26.35, down 1.50%, with a trading volume of 138,580 shares [1] - Jiangsu Bank closed at 10.12, down 1.36%, with a trading volume of 1,148,300 shares [1] - Xiamen Bank closed at 6.30, down 1.10%, with a trading volume of 79,000 shares [1] - Qingdao Bank closed at 4.80, down 1.03%, with a trading volume of 261,300 shares [1] - Changsha Bank closed at 9.01, down 0.99%, with a trading volume of 118,400 shares [1] - Zhengzhou Bank closed at 2.02, down 0.98%, with a trading volume of 1,188,200 shares [1] - Beijing Bank closed at 5.58, down 0.89%, with a trading volume of 1,304,400 shares [1] Capital Flow Analysis - The city commercial bank sector experienced a net outflow of 132 million yuan from institutional investors, while retail investors saw a net inflow of 132 million yuan [1] - The table shows the net capital flow for individual banks, indicating varying levels of institutional and retail investor activity [2] Individual Bank Capital Flow - Hangzhou Bank had a net inflow of 127 million yuan from institutional investors, but a net outflow of 15.3 million yuan from retail investors [2] - Shanghai Bank saw a net inflow of 7.31 million yuan from institutional investors, with a net outflow of 13.26 million yuan from retail investors [2] - Guiyang Bank had a net inflow of 4.12 million yuan from institutional investors, with a net outflow of 4.91 million yuan from retail investors [2] - Qilu Bank experienced a net inflow of 3.48 million yuan from institutional investors, but a significant net outflow of 30.56 million yuan from retail investors [2] - Changsha Bank had a net inflow of 1.00 million yuan from institutional investors, while retail investors saw a net outflow of 6.67 million yuan [2] - Other banks like Xiamen Bank, Qingdao Bank, and Zhengzhou Bank also showed varying trends in capital flow, with some experiencing net outflows from both institutional and retail investors [2]

Investment Rating - The report maintains a positive outlook on the banking sector, suggesting potential investment opportunities due to favorable policy catalysts and improving fundamentals in certain banks [12]. Core Insights - The report highlights the adequacy of loan loss provisions among listed banks, with a provision coverage ratio of 70.8% for Stage 3 loans, indicating limited future impact on profits [2][12]. - It emphasizes the improvement in asset quality, particularly in Stage 3 loans, with notable reductions in the proportion of such loans for several banks compared to the end of Q4 2024 [1][2]. - The report suggests a focus on banks with positive fundamental changes and continuous improvement in financial statements, recommending specific banks for investment [12]. Summary by Sections 1. Loan Quality and Provisioning - The proportion of Stage 3 loans is relatively low for banks like Chengdu Bank (0.66%) and Ningbo Bank (0.76) [1]. - Significant improvements in Stage 3 loan ratios were observed for Chongqing Bank (-61bp) and Guiyang Bank (-48bp) compared to Q4 2024 [1]. - The provision coverage for Stage 3 loans is high, with leading banks like Qingnong Bank (4.35%) and Yunan Bank (4.16%) showing strong provisioning ratios [2]. 2. Financial Assets - The proportion of Stage 3 financial assets is low, with most banks not exceeding 0.05%, indicating manageable asset quality pressure [4]. - The report notes that the provision coverage for financial investments is also robust, with Zhejiang Bank (3.16%) and Qingdao Bank (2.85%) leading in provisioning ratios [8]. 3. Sector Outlook - The report anticipates that expansionary policies aimed at stabilizing the economy will benefit the banking sector, with a focus on banks like Ningbo Bank and Jiangsu Bank for potential investment [12]. - It highlights the ongoing economic recovery and the potential for interest rate cuts, suggesting a sustained dividend strategy for certain banks [12].

Core Viewpoint - The announcement of cash dividends by several banks, including Hu Nong Commercial Bank and Changsha Bank, indicates a growing trend of mid-term dividends among listed banks in China, reflecting their stable profitability and commitment to shareholder returns [1][2][3]. Group 1: Dividend Announcements - Hu Nong Commercial Bank plans to distribute a cash dividend of 0.241 yuan per share, totaling 2.324 billion yuan, with the payment date set for September 26 [1][2]. - Changsha Bank will also distribute a cash dividend of 0.20 yuan per share, amounting to 804 million yuan, marking its first mid-term dividend since its listing [2][3]. - Other banks, such as CCB and Minsheng Bank, have also announced mid-term dividends, contributing to a broader trend in the banking sector [2][3]. Group 2: Mid-term Dividend Trends - A total of 17 out of 42 A-share listed banks have disclosed dividend plans, with seven banks, including Changsha Bank and Ningbo Bank, implementing mid-term dividends for the first time [3]. - The six major state-owned banks are leading the mid-term dividend initiative, with a combined proposed amount exceeding 200 billion yuan [3]. - Industrial and Commercial Bank of China (ICBC) plans to distribute approximately 50.396 billion yuan, maintaining its position as the highest cash dividend payer among listed companies [3]. Group 3: Analyst Insights - Analysts suggest that the stable profitability of banks supports the continuation of high dividend payouts, with the proportion of freely distributable dividends expected to reach 46% of net profits in 2025 [4]. - The implementation of new capital management regulations is anticipated to slow down capital consumption in commercial banks, further enhancing their capacity for dividend distribution [4].

本报（chinatimes.net.cn）记者刘佳 见习记者 林佳茹 北京报道 近期，A股上市银行中期分红正密集落地。 数据显示，今年六大国有行继续全部实施中期分红，合计拟派现2046.57亿元，占所有上市银行中期分 红总额约86%。工商银行以503.96亿元中期分红居首，建设银行486.05亿元、农业银行418.23亿元紧随 其后，中国银行、交通银行、邮储银行三家的分红总额分别为352.5亿元、138.11亿元和147.72亿元。 在股份行方面，中信银行、平安银行、华夏银行、民生银行等银行已公告实施2025年中期分红。其中， 中信银行中期分红金额为104.61亿元，平安银行为45.80亿元，华夏银行为15.91亿元，民生银行为59.54 亿元。 9月18日，长沙银行发布2025年半年度权益分派实施公告，向全体股东派发现金红利约8.04亿元。这也 是长沙银行首次实施中期分红。 《华夏时报》记者注意到，今年上半年，A股上市银行经营业绩普遍回暖，更有超六成上市银行增收又 增利。或受此影响，多家银行拟大手笔分红，回馈投资者。 "中小银行通过现金分红回馈投资者正成大势。"前海开源基金首席经济学家杨德龙在接受《华夏时报 ...

证券代码：601577 证券简称：长沙银行 编号：2025-046 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召开2025年半年度业绩说明会的公告 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： 会议召开时间：2025年9月30日(星期二)上午10:00-11:00 会议召开方式：上海证券交易所上证路演中心网络互动 会议召开网址：https://roadshow.sseinfo.com/ 投资者可于2025年9月23日（星期二）至9月29日（星期一）16:00前登录上证路演中心网站首页点击"提 问预征集"栏目或通过本行邮箱（bankofchangsha@cscb.cn)进行提问。本行将在说明会上对投资者普遍 关注的问题进行回答。 一、说明会类型 长沙银行股份有限公司(简称"本行")已于2025年8月30日发布本行2025年半年度报告，拟于2025年9月30 日上午10:00-11:00以网络互动形式召开2025年半年度业绩说明会，就投资者关心的经营业绩、发展战略 等事项进行沟通交流， ...

Core Viewpoint - Changsha Bank's East City Branch is actively engaging in financial literacy initiatives to help consumers make informed choices about financial products and to mitigate risks associated with fraud and illegal financial activities [1][3]. Group 1: Financial Literacy Activities - The East City Branch has organized a series of financial knowledge promotion activities in September, focusing on consumer education and risk awareness [1]. - The branch utilized a "dual-line integration" approach for outreach, employing both online platforms (WeChat, Moments) and offline methods (LED screens in branches) to reach over 10,000 individuals [3]. - More than 10 in-branch promotional events were held, alongside 10 outreach activities in communities and businesses, distributing over 2,000 informational materials [3]. Group 2: Consumer Rights Protection - The East City Branch is committed to fulfilling its responsibility in protecting consumer rights and plans to conduct more specialized educational activities in the future [5].

Market Performance - The city commercial bank sector increased by 0.39% on September 19, with Qilu Bank leading the gains [1] - The Shanghai Composite Index closed at 3820.09, down 0.3%, while the Shenzhen Component Index closed at 13070.86, down 0.04% [1] Individual Stock Performance - Qilu Bank's closing price was 5.67, up 2.90%, with a trading volume of 1,000,900 shares and a transaction value of 561 million [1] - Suzhou Bank closed at 8.15, up 2.00%, with a trading volume of 546,900 shares and a transaction value of 441 million [1] - Hangzhou Bank closed at 15.41, up 1.72%, with a trading volume of 527,000 shares and a transaction value of 803 million [1] - Jiangsu Bank closed at 10.26, up 0.79%, with a trading volume of 1,279,700 shares and a transaction value of 1.309 billion [1] - Other notable performances include: - Changsha Bank: 9.10, up 0.66% - Xiamen Bank: 6.37, up 0.47% - Chengdu Bank: 17.53, up 0.46% - Chongqing Bank: 9.08, up 0.22% - Qingdao Bank: 4.85, up 0.21% - Nanjing Bank: 10.48, unchanged [1] Capital Flow Analysis - The city commercial bank sector saw a net inflow of 268 million from institutional investors, while retail investors contributed a net inflow of 122 million [2] - The sector experienced a net outflow of 390 million from speculative funds [2] Individual Stock Capital Flow - Qilu Bank had a net inflow of 87.58 million from institutional investors, while it faced a net outflow of 69.65 million from speculative funds [3] - Ningbo Bank saw a net inflow of 65.53 million from institutional investors, with a net outflow of 71.36 million from speculative funds [3] - Suzhou Bank experienced a net inflow of 54.95 million from institutional investors, alongside a net outflow of 49.77 million from speculative funds [3] - Jiangsu Bank had a net inflow of 39.48 million from institutional investors, with a significant net outflow of 118 million from speculative funds [3]

证券代码：601577 证券简称：长沙银行 编号：2025-046 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 关于召开 2025 年半年度业绩说明会的公告 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。 投资者可于 2025 年 9 月 23 日（星期二）至 9 月 29 日（星期 一）16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或 通过本行邮箱（bankofchangsha@cscb.cn)进行提问。本行将在说明 会上对投资者普遍关注的问题进行回答。 一、说明会类型 长沙银行股份有限公司(简称"本行")已于 2025 年 8 月 30 日发 布本行 2025 年半年度报告，拟于 2025 年 9 月 30 日上午 10:00-11:00 以网络互动形式召开 2025 年半年度业绩说明会，就投资者关心的经 营业绩、发展战略等事项进行沟通交流，广泛听取投资者的意见和建 议。 二、说明会召开的时间、地点 （一）会议召开时间：2025 年 9 月 30 日上午 10:00-11:00 1 ...

Core Viewpoint - Changsha Bank announced a cash dividend distribution of 0.20 CNY per share (including tax) for the first half of 2025, totaling approximately 804.31 million CNY for all shareholders [2][4]. Distribution Plan - The cash dividend distribution is based on a total share capital of 4,021,553,754 shares [4]. - The distribution plan was authorized by the shareholders' meeting on May 21, 2025, and approved by the board of directors [2][3]. Distribution Implementation - The cash dividends will be distributed to all shareholders registered with the China Securities Depository and Clearing Corporation Limited, Shanghai Branch, as of the close of trading on the registration date [3]. - Shareholders who have completed designated transactions can collect their cash dividends at their designated securities business department on the distribution date [6]. Tax Deduction Information - For individual shareholders and securities investment funds, the tax rate on dividends varies based on the holding period, with a maximum rate of 20% for shares held for one month or less [10]. - For shares held for more than one year, dividends are exempt from personal income tax [10]. - For natural person shareholders of restricted shares, a tax rate of 10% applies to dividends received before the lifting of restrictions [11]. - Qualified Foreign Institutional Investors (QFII) will also face a 10% tax rate on dividends [12]. - For investors in the Hong Kong Stock Exchange holding A-shares, a 10% tax rate applies as well [13]. Contact Information - For inquiries regarding the dividend distribution, shareholders can contact the board office at 0731-89934772 [14].

Core Viewpoint - Changsha Bank announced a cash dividend of 0.20 yuan per share (tax included) for the first half of 2025, with the record date set for September 25, 2025, and the ex-dividend date on September 26, 2025 [2] Summary by Category - **Dividend Announcement** - The cash dividend per share is 0.20 yuan, which includes tax [2] - The record date for shareholders is September 25, 2025 [2] - The ex-dividend date is September 26, 2025 [2]