证券代码：601665 证券简称：齐鲁银行 公告编号：2025-070 齐鲁银行股份有限公司 2025年第一次临时股东大会决议公告 本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 | 555 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 3,210,424,295 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股 | 55.5251 | | 份总数的比例（%） | | (四) 表决方式是否符合《公司法》及《公司章程》的规定，大会主持情况等。 本次股东大会采用现场投票和网络投票相结合的方式，符合《中华人民共和 国公司法》等国家相关法律法规和《齐鲁银行股份有限公司章程》的有关规定。 本次股东大会由董事长郑祖刚主持。 (五) 公司董事、监事和董事会秘书的出席情况 1、 公司在任董事12名，出席12名； 二、 议案审议情况 (一) 股东大会召开的时间：2025 年 9 月 23 ...

Group 1 - Qilu Bank has established a comprehensive financial service ecosystem to support private enterprises, particularly in the marine economy sector, enhancing their operational capabilities and reducing financing barriers [1][2] - The bank has introduced innovative financial solutions, such as the "Blue Cold Chain Industry Chain Financial Solution," to address funding bottlenecks in the cold chain logistics industry, specifically for a leading enterprise in the region [2][3] - The cold storage utilization rate of the leading enterprise increased from 90% to 98%, and it became one of the busiest cold chain hubs in the Shandong Peninsula, with a daily throughput exceeding 800 tons [3] Group 2 - Qilu Bank has focused on technology finance, providing tailored financial products like "Kairong Loan" to support technology-driven enterprises, which have significant funding needs due to increased orders and R&D investments [4][5] - The bank has developed an online financing product called "Kairong e-loan," which evaluates the strength and potential of technology enterprises based on big data, effectively turning their technological capabilities into financial assets [5] - As of June, the balance of technology loans at Qilu Bank's Liaocheng branch reached 2.18 billion, reflecting a 30% increase since the beginning of the year [5] Group 3 - Qilu Bank has launched the "No Recourse Domestic Factoring (Quanshin Chain)" service to help small and micro enterprises manage their accounts receivable, providing them with efficient financing options [6][7] - The bank has successfully facilitated over 260 loans totaling more than 760 million for private enterprises through the "Quanshin Chain" product, addressing their accounts receivable financing challenges [7]

Core Points - The Shanghai Composite Index is currently at 3791.74 points, with a decline of 0.96%, and the total trading volume of A-shares is 20,625.52 billion yuan [1] - A total of 17 A-shares have surpassed their annual line today, with notable stocks showing significant deviation rates, including Jinfu Technology, Xinhua Jin, and Nanjing Bank, with deviation rates of 7.49%, 3.74%, and 3.17% respectively [1] Summary by Category Stock Performance - Jinfu Technology (300128) has increased by 8.01% with a turnover rate of 12.11%, latest price at 5.80 yuan, and a deviation rate of 7.49% [1] - Xinhua Jin (600735) has risen by 10.07% with a turnover rate of 10.26%, latest price at 6.23 yuan, and a deviation rate of 3.74% [1] - Nanjing Bank (601009) has seen a 4.78% increase with a turnover rate of 1.09%, latest price at 10.96 yuan, and a deviation rate of 3.17% [1] Other Notable Stocks - Tiancheng Automation (603085) has increased by 4.33% with a turnover rate of 8.71%, latest price at 11.08 yuan, and a deviation rate of 2.39% [1] - Shanghai Lingang (600848) has risen by 2.74% with a turnover rate of 0.98%, latest price at 9.74 yuan, and a deviation rate of 2.04% [1] - Qilu Bank (601665) has increased by 2.84% with a turnover rate of 2.25%, latest price at 5.80 yuan, and a deviation rate of 1.68% [1]

Market Overview - A-shares and Hong Kong stocks experienced a significant adjustment, with the ChiNext Index initially rising nearly 1.6% before turning negative, and the Shanghai Composite Index dipping below 3,800 points [1][3] - The market saw a high level of selling pressure, with nearly 5,000 stocks declining across the Shanghai and Shenzhen exchanges [3] Investor Behavior - Analysts suggest that the upcoming holiday may lead to increased risk aversion among leveraged funds, prompting a wave of profit-taking [1][3] - The financing balance has reached 2.4 trillion yuan, indicating a substantial scale of leveraged investments, which could trigger market volatility if risk factors arise [3][4] External Market Influences - Recent strong performances in major markets such as the US, Japan, and Europe may attract capital back to those markets, especially since they will remain open during the National Day holiday [4] - The stability of the RMB exchange rate above 7.1 and the USD index around 97 may influence investor sentiment [4] Sector Performance - The banking sector in A-shares showed resilience, with several banks like Nanjing Bank and Qilu Bank seeing gains of nearly 5% and over 3% respectively, while sectors like tourism, real estate, and technology faced significant declines [3][4] - The Hong Kong market also faced declines, with the Hang Seng Index dropping over 1% and the Hang Seng Tech Index falling more than 2% [3] Market Sentiment and Future Outlook - Despite the current market adjustments, the overall risk appetite may not have significantly decreased, as indicated by the performance of long-term government bonds [6] - Analysts believe that there may still be a window of opportunity in the market post-National Day, with potential for a rebound in certain sectors [6][7] - The interplay between domestic fundamentals weakening and improving overseas liquidity could lead to a high-level market fluctuation, with a focus on structural opportunities [6][7]

Core Viewpoint - The A-share market shows a mixed performance with the Shanghai Composite Index at 3788.76 points, down by 1.04%, while the total trading volume reached 1.262 trillion yuan, indicating a fluctuating market environment [1] Group 1: Market Performance - As of 10:29 AM today, the Shanghai Composite Index is at 3788.76 points, with a decline of 1.04% [1] - The total trading volume in the A-share market is 1.262 trillion yuan [1] Group 2: Stocks Breaking the Annual Line - Eight A-shares have surpassed the annual line today, with notable stocks including Jinfu Technology, Nanjing Bank, and Kexin Technology, showing significant deviation rates of 8.78%, 2.89%, and 2.50% respectively [1] - Stocks with smaller deviation rates that have just crossed the annual line include Industrial Bank, Bank of China, and Shaanxi Coal, indicating a more cautious market sentiment [1] Group 3: Individual Stock Performance - Jinfu Technology (300128) has the highest daily increase of 9.31% and a deviation rate of 8.78%, with a latest price of 5.87 yuan [1] - Nanjing Bank (601009) and Kexin Technology (300565) also performed well, with daily increases of 4.49% and 7.08%, and deviation rates of 2.89% and 2.50% respectively [1] - Other stocks like Tiancheng Automation (603085) and Qilu Bank (601665) showed daily increases of 3.48% and 2.66%, with deviation rates of 1.56% and 1.51% respectively [1]

（文章来源：证券时报网） 中信证券表示，目前A股上市银行算术平均静态股息率回升至4.3%，算术平均静态PB水平则回落至0.61 倍，隐含较高的权益回报空间。二季度以来的市场风格和资金面波动，双向影响板块走势，且上周开始 资金面影响强于市场风格，给配置型资金带来机会。无论是基于慢牛的板块接续、还是长线资金的欠配 空间，银行股绝对收益空间开始显现，建议投资者积极配置。个股选择方面，由于银行板块贝塔表现底 部恢复，个股转向阿尔法策略更具空间，建议关注细分子行业中ROE高且稳定性强、估值空间乐观的银 行。 银行板块23日盘中逆市上扬，截至发稿，南京银行涨约5%，厦门银行、齐鲁银行、苏州银行涨逾3%， 工商银行、农业银行、建设银行、中国银行等涨超2%。 ...

Core Insights - Qilu Bank has implemented a targeted financial solution called "Bearing Village Loan" in Linqing, known as the "hometown of bearings," to support local industries through a "one county, multiple products" model [1][2][3] - The bank has established itself as a significant player in promoting regional economic development, with a total inclusive finance loan balance exceeding 79.5 billion yuan in the first half of the year [1][4] Group 1: Innovative Financial Products - The "One County, Multiple Products" inclusive finance model is a key highlight of Qilu Bank, which customizes financial solutions based on local industry characteristics [2] - The "Yellow River Sheep Breeding Loan" has been successful in supporting local sheep farmers in Dongying, with an annual output exceeding 3 million sheep and a total industry value surpassing 11 billion yuan [2][3] - The "Bearing Village Loan" targets small and micro enterprises in the bearing industry in Linqing, providing flexible loan conditions and favorable interest rates to meet local funding needs [3][4] Group 2: Risk Control Mechanisms - Qilu Bank has developed a collaborative risk-sharing mechanism with government and guarantee institutions to address the challenges of inclusive finance [6][8] - The "Jinan Guarantee - Vitality Loan" is an innovative policy-based financial product that provides interest and guarantee fee subsidies from the government, marking a new model of inclusive finance [6][7] - The bank's Qingdao branch has signed cooperation agreements with local guarantee groups, expanding its financing guarantee business to over 420 clients with a balance of nearly 600 million yuan [7] Group 3: Community Engagement and Financial Education - Qilu Bank extends its services beyond credit support to include financial education and customer care, demonstrating its commitment to social responsibility [9][10] - The bank conducts anti-fraud knowledge seminars for vulnerable groups, such as sanitation workers and the elderly, to enhance their financial risk awareness [9] - Customer care initiatives include personalized services, such as assisting elderly clients with social security card applications at their homes, showcasing the bank's dedication to customer-centric service [10] Group 4: Future Outlook - Qilu Bank aims to continue innovating its products and service models to enhance the breadth, depth, and warmth of inclusive finance, contributing to rural revitalization and high-quality development in Shandong [10]

Core Viewpoint - Recent announcements from multiple banks regarding the redemption of subordinated capital bonds and perpetual bonds indicate a strategic response to changing interest rates, regulatory requirements, and capital management needs. The "perpetual bonds" will continue to be an important tool for capital replenishment in the banking sector [1][2]. Group 1: Reasons for Redemption - Several banks, including China Construction Bank and Qilu Bank, have recently redeemed their "perpetual bonds" due to three main reasons: lowering capital costs, enhancing market reputation, and specific bond terms that allow for redemption after five years [2][3]. - The decline in interest rates allows banks to redeem high-cost old bonds and issue new ones at lower rates, effectively reducing interest expenses and alleviating net interest margin pressure [3]. Group 2: Capital Management and Regulatory Compliance - The implementation of new capital management regulations has led to stricter counter-cyclical capital supervision, particularly for globally systemically important banks, necessitating the replacement of old bonds to optimize capital structure and improve capital tool adaptability [3][6]. - Redemption of old bonds may temporarily decrease a bank's capital scale, but if new bonds are issued simultaneously, it can enhance capital replenishment efficiency [3][4]. Group 3: Market Dynamics and Future Trends - The demand for capital replenishment in the banking sector remains urgent due to significant credit needs during economic transformation and the necessity for capital buffers in dealing with non-performing assets [5]. - The issuance of "perpetual bonds" is expected to show a divergence trend, with large banks and quality joint-stock banks likely to continue leveraging the interest rate decline to accelerate the redemption and issuance of new bonds, while smaller banks may face increased challenges in issuing new bonds [6].

Investment Rating - The report assigns an "Outperform" rating to the banking sector [1] Core Insights - The banking sector experienced a decline of 4.21% this week, marking the lowest performance across all industries [1][14] - Year-to-date, the banking sector has seen a growth of 3.30%, ranking 26th among all industries [1] - The report highlights investment opportunities in China Merchants Bank, Agricultural Bank of China, and Jiangsu Bank [1] Summary by Sections Banking Sector and Stock Performance - The A-share banking index fell by 4.09%, underperforming the Wind All A index by 3.91 percentage points [13] - Among 42 listed banks, only Qilu Bank saw an increase in stock price this week [2][17] - The average price-to-book (P/B) ratios for different types of banks are as follows: state-owned banks at 0.70X, joint-stock banks at 0.54X, city commercial banks at 0.63X, and rural commercial banks at 0.59X [2][17] Funding Price Situation - The People's Bank of China conducted a significant reverse repo operation, injecting 18,268 billion yuan into the market [3][29] - The overnight SHIBOR rate increased to 1.46%, up by 9 basis points from last week [3][32] - The average issuance rate for interbank certificates of deposit rose to 1.64%, an increase of 1 basis point [6][40] Bond Market Situation - Total bond market financing reached 23,465.1 billion yuan, with net financing of 8,512.8 billion yuan, an increase of 7,050.0 billion yuan from the previous week [4][45] - The issuance of financial bonds increased by 1,031.0 billion yuan, while the issuance of government bonds decreased [4][46] - The yield on 10-year government bonds rose to 1.88%, while the 1-year yield fell to 1.39% [5][50] Interbank Market Review - The interbank repo overnight rate (R001) increased to 1.50%, up by 10 basis points [3][32] - The trading volume for the week was 31.39 trillion yuan, a decrease of 1.74 trillion yuan from the previous week [3][32] Important News and Announcements - The report includes various charts and data visualizations that illustrate the performance of the banking sector and market conditions [12][18]

Investment Rating - The report maintains a "Recommended" rating for the banking sector [1][39]. Core Insights - The banking sector underperformed the market, with a decline of 4.21% compared to a 0.44% drop in the CSI 300 index. State-owned banks, joint-stock banks, city commercial banks, and rural commercial banks saw declines of 4.43%, 4.48%, 3.61%, and 3.54% respectively [3][13]. - The People's Bank of China (PBOC) adjusted the 14-day reverse repurchase operation to a fixed quantity and interest rate bidding, enhancing liquidity management and emphasizing the 7-day OMO rate as the core policy rate. This change is expected to benefit larger state-owned banks more than smaller banks [3][5][6]. - A new set of policies aimed at boosting consumption has been introduced, focusing on enhancing service consumption platforms, improving service quality, and increasing financial support for consumption-related sectors. This is expected to stimulate retail credit growth [11][12]. Summary by Sections Latest Research Insights - The PBOC's adjustment of the 14-day reverse repurchase operation aims to optimize liquidity management and reinforce the 7-day OMO policy rate [5][6]. Weekly Market Performance - The banking sector's performance was notably weaker than the broader market, with significant declines across various types of banks [3][13]. Valuation of the Sector and Listed Companies - As of September 19, 2025, the banking sector's price-to-book (PB) ratio stands at 0.67, indicating a 37.43% discount compared to the overall A-share market [29][35]. Investment Recommendations - The report suggests that the adjustments in reverse repurchase operations and the new consumption policies will lead to improved fundamentals for banks, with a potential turning point in mid-term performance. Specific banks recommended for investment include Industrial and Commercial Bank of China, Agricultural Bank of China, Postal Savings Bank of China, Jiangsu Bank, Hangzhou Bank, and China Merchants Bank [39][40].