证券代码：601658 证券简称：邮储银行 公告编号：临 2026-007 中国邮政储蓄银行股份有限公司 关于召开 2025 年度业绩发布会的公告 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： https://finance.china.com.cn/psbc2025/index.shtml 投资者可于 2026 年 3 月 25 日（星期三）17:00 前将相关问题 通 过 电 子 邮 件 的 形 式 发 送 至 本 行 投 资 者 关 系 邮 箱 ： psbc.ir@psbcoa.com.cn。本行将于 2025 年度业绩发布会（以下简称 业绩发布会）上回答投资者普遍关注的问题。 本行拟于 2026 年 3 月 27 日（星期五）在上海证券交易所网站 （www.sse.com.cn）披露本行 2025 年年度报告。为了便于广大投资 者更全面深入地了解本行 2025 年度业绩和经营情况，本行拟于 2026 年 3 月 30 日（星期一）10:00-11:30 召开业绩发布会，就投资者 ...

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. 1658 海外監管公告 非公開發行A股股票限售股上市流通公告 本公告乃根據《香港聯合交易所有限公司證券上市規則》第13.10(B)條作出。如下公 告已於上海證券交易所網站刊登，僅供參閱。 特此公告。 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 中國，北京 2026年3月18日 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；執行董事蘆葦先生、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、胡宇霆先生、丁向明先生 及余明雄先生；獨立非執行董事溫鐵軍先生、鐘瑞明先生、潘英麗女士、唐志宏先生、洪小源 先生、楊勇先生及浦永灝先生。 本次股票上市流通总数为5,405,405,405股，全部为 2021 年非公 开发行 A 股限售股。 本次股票上市流通日期为2026 年 3 月 25 日。 ...

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。 海外監管公告 中國國際金融股份有限公司、中信証券股份有限公司 關於中國郵政儲蓄銀行股份有限公司非公開發行A股股票限售股 上市流通的核查意見 本公告乃根據《香港聯合交易所有限公司證券上市規則》第13.10(B)條作出。如下公 告已於上海證券交易所網站刊登，僅供參閱。 特此公告。 承董事會命 中國郵政儲蓄銀行股份有限公司 杜春野 POSTAL SAVINGS BANK OF CHINA CO., LTD. 1658 聯席公司秘書 中國，北京 2026年3月18日 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；執行董事蘆葦先生、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、胡宇霆先生、丁向明先生 及余明雄先生；獨立非執行董事溫鐵軍先生、鐘瑞明先生、潘英麗女士、唐志宏先生、洪小源 先生、楊勇先生及浦永灝先生。 * 中國郵政儲蓄銀行股份有限公司並非一家根據銀行業條例（香港法例第1 ...

证券代码：601658 证券简称：邮储银行 公告编号：临 2026-006 中国邮政储蓄银行股份有限公司 非公开发行 A 股股票限售股上市流通公告 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： 本次股票上市类型为非公开发行股份；股票认购方式为网下， 上市股数为5,405,405,405股。 经中国证监会《关于核准中国邮政储蓄银行股份有限公司非公开 发行股票的批复》（证监许可〔2023〕340 号）核准，本行于 2023 年 3 月非公开发行 6,777,108,433 股 A 股普通股股票。该次非公开发行完成 后，本行的股本总数增至 99,161,076,038 股。 经中国证监会《关于同意中国邮政储蓄银行股份有限公司向特定 对象发行股票注册的批复》（证监许可〔2025〕1080 号）同意，本行于 2025 年 6 月向特定对象发行 20,933,977,454 股 A 股普通股股票。该次 向特定对象发行完成后，本行的股本总数增至 120,095,053,492 股。 自本次限售股形成 ...

中国国际金融股份有限公司、中信证券股份有限公司 关于中国邮政储蓄银行股份有限公司 非公开发行 A 股股票限售股上市流通的核查意见 中国国际金融股份有限公司、中信证券股份有限公司（以下简称"保荐机构"）作 为中国邮政储蓄银行股份有限公司（以下简称"邮储银行"、"发行人"）的联席保荐 机构，根据《证券发行上市保荐业务管理办法》《上海证券交易所股票上市规则》《上 海证券交易所上市公司自律监管指引第 11 号——持续督导》等有关法律法规和规范性 文件的要求，对邮储银行非公开发行 A 股股票限售股上市流通事宜进行了核查，发表 核查意见如下： 一、本次限售股上市类型 经中国证券监督管理委员会（以下简称"中国证监会"）《关于核准中国邮政储蓄 银行股份有限公司非公开发行股票的批复》（证监许可﹝2021﹞751 号）核准，邮储银 行于 2021 年 3 月非公开发行 5,405,405,405 股 A 股普通股股票。该次 A 股非公开发行 完成后，邮储银行的股本总数增至 92,383,967,605 股。 本次解除限售并上市流通的限售股为邮储银行 2021 年非公开发行限售股，共涉及 1 名股东，为中国邮政集团有限公司（以下简 ...

Core Viewpoint - Recent adjustments by multiple banks regarding personal gold trading highlight a significant shift in the banking sector's approach to managing risks associated with volatile gold prices [1][3][4]. Group 1: Bank Adjustments - On March 17, Minsheng Bank and Postal Savings Bank announced the need for personal clients to complete transactions and contract terminations due to severe market fluctuations in the gold sector [1][3]. - Minsheng Bank has been progressively closing its personal gold trading services since July 2022, with a focus on urging clients to settle their accounts and withdraw funds [3]. - Postal Savings Bank will enforce mandatory liquidation of accounts that remain inactive by March 27, 2026, to protect client assets [3][4]. - Ping An Bank plans to gradually close its personal gold trading services starting April 1, 2026, and has already adjusted margin requirements to 100% for certain contracts [4]. Group 2: Market Volatility - The recent volatility in gold prices, including a significant drop of over 12% within 30 hours after reaching a historical high of $5,600 per ounce, has prompted banks to reassess their risk exposure [8]. - The extreme fluctuations have led to increased instances of "negative balances" in client accounts, where losses exceed the deposited margin, placing financial pressure on banks [8]. - Banks are now requiring full margin payments to mitigate the risk of clients facing liquidation due to price swings, effectively eliminating leverage in gold trading [9]. Group 3: Future Outlook - Deutsche Bank's recent report maintains a long-term price target of $6,000 per ounce for gold, indicating a shift in gold's asset characteristics and its increasing correlation with risk assets [9].

Investment Rating - The industry investment rating is "Buy" [2] Core Insights - The report provides a comprehensive analysis of 219 regional banks in Shandong Province, highlighting their asset structure, profitability, and asset quality compared to listed banks [6][21] - The asset growth rate of major city commercial banks in Shandong is 13.5%, which is lower than the 14.2% growth rate of listed city commercial banks [26] - The report indicates that the loan-to-asset ratio for city commercial banks is 54.9%, while for rural commercial banks it is 51.6%, both showing a slight year-on-year decline [31] - The profitability metrics reveal that the return on assets (ROA) for city commercial banks in Shandong is 50 basis points lower than that of listed city commercial banks, and the return on equity (ROE) is 3.09 percentage points lower [6][31] - The asset quality of regional banks in Shandong is weaker than that of listed banks, with non-performing loan ratios higher by 21 basis points for city commercial banks and 72 basis points for rural commercial banks [6][31] Summary by Sections 1. Economic Structure of Shandong Province - Shandong Province is implementing initiatives to enhance its economic development, focusing on green and high-quality growth [13] 2. Overview of Regional Banks in Shandong - Shandong has 219 commercial banks, including 14 city commercial banks, 91 village banks, and 110 rural commercial banks [21] - The report notes that the majority of these banks were established between 2011 and 2015, with 125 banks founded during this period [21] 3. Asset and Liability Structure - The asset growth of major banks has remained stable since 2017, with city commercial banks showing a growth rate of 13.5% in the first half of 2025 [26] - The report highlights that the loan structure is predominantly corporate loans, with city and rural commercial banks having corporate loan ratios of 72.7% and 64.2%, respectively [32] 4. Profitability and Asset Quality - The report indicates that the profitability of Shandong's regional banks is lower than that of listed banks, with city commercial banks' ROA at 0.66% and ROE at 9.43% [6][31] - The non-performing loan ratio for city commercial banks is reported at 1.21%, which is higher than the average for listed banks [31] 5. Capital Adequacy - The capital adequacy ratios for city and rural commercial banks in Shandong are reported to be 13.4% and 13.8%, respectively, indicating a sufficient safety margin [6][31]

Investment Rating - The report maintains a positive outlook on the banking industry, indicating a transition towards stable profitability and high-quality development during the "15th Five-Year Plan" period, with a recommendation to focus on high-quality banks that are expected to recover towards a 1x price-to-book (PB) ratio [7]. Core Insights - The banking landscape has undergone significant changes during the "14th Five-Year Plan," characterized by a trend towards the dominance of larger banks, with listed banks outperforming non-listed banks in terms of total assets, loans, and net profits [6][19]. - The report highlights three major changes in the banking sector: 1. Increasing concentration among top banks, with listed banks showing superior performance compared to non-listed banks, reflected in a non-performing loan (NPL) ratio of approximately 1.2%, which is half that of non-listed banks [6][15]. 2. A shift in market share dynamics, with state-owned banks gaining dominance, while regional commercial banks are accelerating their growth, and shareholding and rural commercial banks are experiencing a decline [6][19]. 3. Niche operations are emerging as a new direction for smaller banks, with wealth management and investment banking becoming areas where leading shareholding banks are outperforming larger state-owned banks [6][19]. Summary by Sections 1. Dominance of Listed Banks - Listed banks have seen their market share in total assets and loans increase to 81.2% and 79.9%, respectively, as of Q3 2025, marking a recovery from declines during the previous "13th Five-Year Plan" [13][14]. - The net profit share of listed banks has risen to nearly 90%, indicating improved operational efficiency [13][14]. 2. Changing Landscape of Various Banks - State-owned banks have increased their market share in total assets and loans to 50.2% and 52.8%, respectively, during the "14th Five-Year Plan," reflecting their enhanced role as a stabilizing force in the economy [19][22]. - Regional commercial banks have improved their market positions, particularly in economically strong provinces, while shareholding and rural commercial banks have faced challenges, with market shares declining [19][22]. 3. Characteristics of Corporate and Retail Banking - The report notes a growing trend of strong corporate lending and weaker retail lending, which has become a key factor in the competitive dynamics among different types of banks [19][22]. 4. Establishment of a Differentiated Development Ecosystem - The report emphasizes the establishment of a "dislocated development and differentiated operation" ecosystem, where larger banks dominate in volume but face challenges in pricing, while smaller banks focus on flexible service offerings to differentiate themselves [6][19]. 5. Investment Analysis Recommendations - The report suggests focusing on two main investment themes for 2026: 1. Asset expansion, targeting quality regional commercial banks such as Chongqing Bank, Suzhou Bank, and Ningbo Bank [7]. 2. Real estate recovery, focusing on shareholding banks that are expected to recover sooner, such as Industrial Bank, Citic Bank, and China Merchants Bank [7].

Investment Rating - The report maintains a positive outlook on the banking industry, indicating a transition towards stable profitability and high-quality development during the "15th Five-Year Plan" period, with a focus on quality banks recovering towards a 1x PB valuation [7]. Core Insights - The banking landscape has undergone significant changes during the "14th Five-Year Plan," characterized by a trend towards the dominance of listed banks over non-listed banks, with listed banks showing improved asset quality and profitability metrics [6][8]. - The report highlights three major shifts in the banking sector: the increasing dominance of state-owned banks, the rapid development of city commercial banks, and the ongoing decline in market share for joint-stock and rural commercial banks [6][8]. - The report emphasizes the importance of differentiated operations and regional focus for smaller banks to thrive in a competitive environment, suggesting that local banks should leverage their unique advantages to capture market potential [6][8]. Summary by Sections 1. Dominance of Listed Banks - Listed banks have seen a rise in market share for total assets, loans, and net profits, with total assets and loans reaching 81.2% and 79.9% respectively by Q3 2025, reflecting a recovery from previous declines during the "13th Five-Year Plan" [17][18]. - The net profit share of listed banks has increased to nearly 90%, indicating better operational efficiency compared to non-listed banks [17][18]. 2. Changing Landscape of Various Banks - State-owned banks have strengthened their market position, with total assets and loan market shares increasing to 50.2% and 52.8% respectively, while joint-stock banks have faced challenges, with their market shares declining [22][26]. - City commercial banks have benefited from regional development, with their market shares in total assets, loans, and net profits rising to 16.2%, 14.5%, and 12.1% respectively [22][24]. 3. Characteristics of Corporate and Retail Banking - The report notes a growing trend of strong corporate lending and weaker retail lending, which has become a key factor for the leading performance of state-owned and city commercial banks [6][22]. - The report also highlights the need for banks to balance pricing and efficiency, especially as large banks dominate key sectors while smaller banks focus on flexible service offerings [6][8]. 4. Establishment of a Differentiated Operating Ecosystem - The report discusses the establishment of a "dislocated development and differentiated operation" ecosystem, where large banks dominate in volume but face challenges in pricing, while smaller banks focus on niche markets [6][8]. - Wealth management and investment banking sectors are increasingly led by top joint-stock banks, which have surpassed state-owned banks in market share [6][8]. 5. Investment Analysis Recommendations - The report suggests focusing on two main investment themes for 2026: the expansion of asset portfolios in quality city commercial banks like Chongqing Bank, Suzhou Bank, and Ningbo Bank, and the recovery of joint-stock banks like Industrial Bank, CITIC Bank, and China Merchants Bank [7][8].

(A joint stock company incorporated in the People's Republic of China with limited liability) （在中華人民共和國註冊成立的股份有限公司） (Stock Code：1658) （股份代號：1658） Dear non-registered holder(s), 17 March 2026 Arrangement of Electronic Dissemination of Corporate Communications Pursuant to Rule 2.07A of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited under the expansion of paperless listing regime and electronic dissemination of corporate communications that came into effect on 31 Decem ...