证券代码：601658 证券简称：邮储银行 公告编号：2026-003 中国邮政储蓄银行股份有限公司 2026年第一次临时股东会决议公告 中国邮政储蓄银行股份有限公司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： 本次会议是否有否决议案：无 一、 会议召开和出席情况 | 1、出席会议的股东和代理人人数 | 2,476 | | --- | --- | | 其中：A 股股东人数 | 2,469 | | 境外上市外资股股东人数（H 股） | 7 | | 2、出席会议的股东所持有表决权的股份总数（股） | 108,517,872,021 | | 其中：A 股股东持有股份总数 | 94,334,790,869 | | 境外上市外资股股东持有股份总数（H 股） | 14,183,081,152 | | 3、出席会议的股东所持有表决权股份数占本行有表决权股 | | | 份总数的比例（%） | 90.477236 | 1 (一) 股东会召开的时间：2026 年 1 月 19 日 (二) 股东会召开的地点：北京市西城区金融大街 3 ...

证券代码：601658 证券简称：邮储银行 公告编号：临 2026-004 中国邮政储蓄银行股份有限公司 董事会决议公告 中国邮政储蓄银行股份有限公司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。 中国邮政储蓄银行股份有限公司董事会于 2026 年 1 月 5 日以书 面形式发出会议通知，于 2026 年 1 月 19 日在北京以现场方式召开会 议。会议应出席董事 16 名，亲自出席董事 16 名，部分高级管理人员 列席会议。会议的召开符合《中华人民共和国公司法》等有关法律、 行政法规、部门规章、规范性文件和《中国邮政储蓄银行股份有限公 司章程》的有关规定。 会议由郑国雨董事长主持，出席会议的董事审议并表决通过了以 下议案： 二〇二六年一月十九日 议案表决情况：有效表决票 16 票，同意 16 票，反对 0 票，弃权 0 票。 选举芦苇先生担任董事会社会责任与消费者权益保护委员会主 席及委员、董事会战略规划委员会委员、董事会提名和薪酬委员会委 员。芦苇先生所任董事会专门委员会职务将自国家金融监督管理总局 1 核准其董事任职资格之日 ...

中國，北京 2026年1月19日 POSTAL SAVINGS BANK OF CHINA CO., LTD. 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 中國郵政儲蓄銀行股份有限公司（「本行」）董事會（「董事會」）於2026年1月19日 舉行會議，審議並通過了關於調整董事會專門委員會人員組成的議案。董事會 決議選舉蘆葦先生擔任董事會社會責任與消費者權益保護委員會主席及委員、 董事會戰略規劃委員會委員、董事會提名和薪酬委員會委員。蘆葦先生所任董 事會專門委員會職務將自國家金融監督管理總局核准其董事任職資格之日起生 效。自蘆葦先生正式任職之日起，姚紅女士不再代為履行董事會社會責任與消 費者權益保護委員會主席職務。 承董事會命 中國郵政儲蓄銀行股份有限公司 杜春野 聯席公司秘書 1658 調整董事會專門委員會委員 於本公告日期，本行董事會包括董事長及非執行董事鄭國雨先生；執行董事姚紅女士；非 執行董事劉新安先生、張宣波先生、劉瑞鋼先生、陳雪女士、胡宇 ...

1658 2026年第一次臨時股東會表決結果公告 中國郵政儲蓄銀行股份有限公司（「本行」）董事會（「董事會」）謹此宣佈，本行 2026年第一次臨時股東會（「臨時股東會」）已於2026年1月19日（星期一）下午3 時於北京市西城區金融大街3號金鼎大廈A座現場舉行。 臨時股東會由董事會召集，本行董事長鄭國雨先生擔任臨時股東會會議主席並 主持。本行在任董事1 6人，列席1 6人；本行董事候選人列席，董事會秘書及 其他高級管理層成員列席。臨時股東會的召開程序符合中國相關法律法規及本 行公司章程的規定，表決結果合法有效。 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 POSTAL SAVINGS BANK OF CHINA CO., LTD. 承董事會命 為符合香港上市規則的要求，本行H股股份過戶登記處香港中央證券登記有限 公司擔任臨時股東會的監票人。 茲提述本行日期為2025年12月30日的通函（「通函」），當中列載於臨時股東會 上提呈供股東審議及批准的決 ...

Group 1 - The core viewpoint of the news is that the state-owned large bank sector experienced a decline of 1.12% on January 19, with Agricultural Bank leading the drop [1] - The Shanghai Composite Index closed at 4114.0, up 0.29%, while the Shenzhen Component Index closed at 14294.05, up 0.09% [1] - The trading performance of individual stocks in the state-owned large bank sector showed varied results, with Agricultural Bank down 1.53% and Industrial and Commercial Bank down 1.05% [1] Group 2 - The net outflow of main funds from the state-owned large bank sector was 407 million yuan, while retail investors saw a net inflow of 539 million yuan [1] - The detailed fund flow data indicates that the Agricultural Bank had a significant net outflow of 35.37 million yuan from main funds, but a net inflow of 73.72 million yuan from retail investors [2] - The overall trend shows that while main and speculative funds are withdrawing, retail investors are increasing their positions in certain banks [2]

Investment Rating - The industry investment rating is "Buy" [3] Core Viewpoints - The report indicates that there is still room for further cuts in reserve requirement ratios and interest rates, with a focus on structural monetary policy support for high-quality economic development [15][19] - The central bank has implemented a reduction of 0.25 percentage points in various structural monetary policy tool rates, signaling a supportive monetary policy stance [15][19] - The report emphasizes the importance of timing for future policy implementations, particularly in relation to government bond issuance peaks and the maturity schedule of high-interest bank deposits [15] Summary by Sections 1. Monetary Policy Adjustments - The report notes a reduction of 0.25 percentage points in structural monetary policy tool rates, with a focus on supporting key areas through increased re-lending [15] - Future attention is directed towards December economic data and January LPR [22] 2. Central Bank Dynamics and Market Rates - The central bank conducted a total of 9,515 billion yuan in 7-day reverse repos at an interest rate of 1.40%, with a net injection of 9,741 billion yuan [16] - The report highlights that the funding rates remained stable, with expectations of slight increases due to tax payments and government bond net repayments [16] 3. Bank Financing Tracking - The report indicates that the total outstanding amount of interbank certificates of deposit (CDs) is 19.09 trillion yuan, with an average issuance rate of 1.65% [20] - The report also notes that there were no commercial bank bond issuances during the period, with a total outstanding commercial bank bond size of 3.38 trillion yuan [20]

Investment Rating - The report maintains a "Recommended" rating for the banking sector, highlighting the continued dividend value of bank stocks and the positive outlook for the sector [39]. Core Insights - The expansion of structural monetary policy tools and interest rate cuts is expected to support banks in stabilizing their interest margins and enhance support for key areas of the real economy [5][39]. - The report anticipates a marginal improvement in corporate financing demand, with public loans expected to continue supporting the bank's credit growth in early 2026 [5][39]. - The report emphasizes the importance of monitoring the effectiveness of policies and the potential for further monetary easing, including a projected 50 basis points (BP) reduction in reserve requirements and a 10-20 BP cut in interest rates throughout the year [8][39]. Summary by Sections Latest Research Insights - The People's Bank of China (PBOC) has reduced the interest rates on various structural monetary policy tools by 25 BP, which is expected to enhance banks' credit allocation to key sectors [7][8]. - The PBOC's measures include increasing the quotas for re-lending to small and medium-sized enterprises and expanding support for technology innovation and green financing [7][8]. Market Performance - The banking sector underperformed the market, with a decline of 3.03% compared to a 0.57% drop in the CSI 300 index [5][15]. - The report notes that only three A-share banks saw an increase in stock prices, while the majority experienced declines [15]. Investment Recommendations - The report suggests focusing on banks that are likely to benefit from the structural monetary policy changes, recommending specific banks such as Industrial and Commercial Bank of China, Agricultural Bank of China, and Postal Savings Bank of China [39]. - The report highlights the ongoing dividend appeal of bank stocks, driven by factors such as low interest rates and substantial dividend payouts [39]. Financial Data - As of December, the total social financing (TSF) showed a year-on-year increase of 8.3%, with corporate loans demonstrating a notable increase, indicating a recovery in financing demand [9][10]. - The report projects that the total new RMB loans in January 2026 will be approximately 5.5-5.6 trillion yuan, with public loans expected to perform slightly better than the previous year [12][39].

Core Viewpoint - The article analyzes the comparison between Postal Savings Bank of China (PSBC) and Citic Bank, particularly in light of the appointment of Lu Wei, the former president of Citic Bank, as the president of PSBC, and discusses the potential impact of this leadership change on PSBC's operations and strategy [2]. Group 1: Background and Structure - PSBC traces its origins back to 1919 with the establishment of postal savings, and it officially became a limited liability company in 2007, transitioning to a joint-stock company in 2012 [3]. - Citic Bank was established in 1987, evolving from the banking department of the former China International Trust Investment Corporation, and was renamed in 2005 [5]. - As of September 2025, PSBC's major shareholders include China Post Group (51.87%), the Ministry of Finance (15.77%), and China Mobile (6.70%) [4]. - Citic Bank's major shareholders include Citic Financial Holdings (64.75%) and the Ministry of Finance (21.30%) [6]. Group 2: Operational Scale and Network - By the end of 2024, PSBC had 7,899 branches across China, leveraging its extensive postal network, while Citic Bank had 1,470 branches in 153 cities [8]. - PSBC's branch network is significantly larger, especially in rural areas, while Citic Bank has international branches in Hong Kong and London [8]. Group 3: Subsidiaries and Business Focus - PSBC has three major subsidiaries focused on consumer finance, wealth management, and direct banking [9]. - Citic Bank operates seven major subsidiaries, including those in international finance and asset management, indicating a broader range of services [10]. Group 4: Financial Performance - As of the end of 2024, PSBC's total assets were CNY 17.08 trillion, compared to Citic Bank's CNY 9.53 trillion, indicating that PSBC's assets are approximately twice that of Citic Bank [13][14]. - In terms of net profit, PSBC reported CNY 864.79 billion in 2024, while Citic Bank reported CNY 685.76 billion, showing PSBC's profitability advantage [13]. - PSBC's non-performing loan ratio was 0.90% in 2024, lower than Citic Bank's 1.16%, indicating better asset quality [14][37]. Group 5: Income Structure and Cost Efficiency - PSBC's operating income heavily relies on net interest income, which constituted 82.04% of its revenue in 2024, while Citic Bank's was 68.66% [13][25]. - The cost-to-income ratio for PSBC was 64.23% in 2024, significantly higher than Citic Bank's 30%, primarily due to its unique cost structure related to deposit acquisition [47][50]. Group 6: Employee and Compensation Analysis - As of 2024, PSBC employed 197,600 people, significantly more than Citic Bank's 65,500 employees, leading to lower average compensation at PSBC (CNY 324,100) compared to Citic Bank (CNY 600,000) [12][54].

Core Viewpoint - Institutional investors are increasingly focusing on the growth potential and refinancing capabilities of small and medium-sized banks, particularly quality city commercial banks, driven by a favorable banking sector outlook and attractive investment valuations [1][2]. Group 1: Institutional Interest - Since January, Ningbo Bank has undergone three rounds of institutional investor research, with 15 institutions including funds, insurance, and securities participating [1]. - From November 2025 to January 2026, 19 listed banks were researched, with 11 receiving significant attention from institutional investors [1]. Group 2: Fundamental Analysis - Since the end of 2025, the net interest margin of small and medium-sized banks has stabilized, and asset quality has improved, with non-performing loan rates for quality city commercial banks dropping to low levels [2]. - The regulatory environment has become more supportive for capital replenishment in small and medium-sized banks, reducing operational uncertainties [2]. Group 3: Shifts in Investment Focus - There has been a notable shift in institutional focus from "expansion speed" and "regional advantages" to "profit quality" and "specialized sectors," emphasizing profitability metrics over mere asset growth [2][3]. - Institutions are now more interested in the dynamics of regional industrial upgrades and changes in wealth management needs, moving from static location advantages to dynamic collaborations [3]. Group 4: Investment Trends - Current investment strategies are evolving from low-valuation defensive positions to a dual focus on high growth and high certainty, with a shift from passive to active investment approaches [3]. - Institutional investors are increasingly selective, focusing on quality city commercial banks in economically developed regions while emphasizing long-term strategies and sustainable profitability [3].

中经记者 张漫游 北京报道 近年来，金融机构主动响应人口老龄化国家战略，从线下硬件设施升级到线上数字服务优化，从单一产 品供给到多元生态构建，全方位推进适老化改造实践。 高鹏飞指出，当前，金融机构的适老化改造不仅体现为软硬件升级，更延伸至服务内容。针对老年人金 融风险防范意识相对薄弱的特点，不少金融机构通过走进社区、举办讲座等方式，普及防范电信诈骗、 识别非法集资等知识。在销售环节加强风险提示和过程管理，帮助老年群体树立理性投资观念。 如建设银行（601939.SH）在全国设置的超200家"健养安"养老金融特色网点，定期举办养老金融课堂， 汇聚养老规划师团队、养老领域专家、保险理财等专业人士，展开养老规划、财富管理、消保防诈等系 列讲座。同时，建设银行也深入周边企业，提供年金之类的养老专属服务，并整合网点周边资源，构建 融合生活消费、健康医疗的全方位养老综合生态。 从"有"到"优" 当前，随着众多新政的落地实施，金融机构适老化改造正迎来从"有没有"向"好不好"的转型期，如何破 解服务痛点、深化科技赋能、构建协同生态，成为行业高质量发展的重要课题。 2026年1月13日，民政部召开新闻发布会，介绍《关于培育养老 ...