Investment Rating - The industry is rated as "Outperform the Market" [2][3] Core Viewpoints - The stability of asset quality in the banking sector is attributed to the gradual clearing of non-performing loans across various sectors over the past 15 years, which has mitigated the impact on bank financial statements [1][2] - Banks have proactively adjusted their loan structures to reduce risk exposure, particularly by decreasing the proportion of loans to sectors experiencing rising non-performing loans [1][2] - The impact of non-performing loans on profit statements has been minimized due to banks' preemptive provisioning strategies, which have allowed for smoother profit reporting [1][2] - Non-credit areas of non-performing assets have also been cleared or are at a minimal level, contributing to the overall stability of bank risk profiles [1][2] Summary by Sections Non-Performing Loan Exposure and Clearing - The banking sector has experienced a 15-year process of risk resolution, with non-performing loans being gradually exposed and cleared [12] - The manufacturing and retail sectors have seen significant reductions in non-performing loans, achieving a return to levels similar to those seen in 2010 [26][30] Real Estate Sector - The real estate sector's non-performing loan ratio peaked in 2023 but has since shown signs of recovery, although it remains elevated [35][37] - The overall impact of real estate risks on bank loan portfolios is limited due to the relatively small proportion of real estate loans compared to total loans [37][38] City Investment Loans - The non-performing loan ratio for city investment loans has been declining since 2023, aided by debt reduction efforts [41][44] Retail Loans - Retail loan categories, including personal housing loans and credit card loans, are currently experiencing rising non-performing rates, indicating ongoing risk exposure [50][53] Other Loan Categories - Other loan categories, such as utilities and miscellaneous public loans, have minimal impact on overall bank risk due to their low non-performing rates [60][63] Loan Structure Adjustments - Banks have actively adjusted their loan structures in response to risk exposures, shifting focus towards lower-risk personal loans [66][68] Provisioning Strategies - Banks have utilized provisioning to smooth profit impacts from non-performing loans, with historical data indicating a capacity to release significant net profits from existing provisions [81][82] Investment Recommendations - The report suggests focusing on banks with strong asset quality and low provisioning pressure, such as Chengdu Bank and Changsha Bank, while also recommending cyclical stocks like Ningbo Bank and Changshu Bank for potential recovery [105]

Investment Rating - The report maintains a recommendation for the banking industry [3] Core Insights - The report provides a comprehensive analysis of the asset-liability structure and interest margin changes of 42 A-share listed banks during the "14th Five-Year Plan" period, highlighting a shift towards corporate loans on the asset side and a stronger retail focus on the liability side [12][14] - The asset-liability structure indicates a significant increase in the proportion of corporate loans, rising from 57.02% to 63.22% from the end of 2020 to mid-2025, while the proportion of demand deposits decreased from 41.94% to 30% [12][14] - The report notes a decline in both asset yield and interest margin, with the yield on interest-earning assets dropping from 4.43% to 3.32% and the net interest margin decreasing from 2.23% to 1.53% during the same period [14][15] Summary by Sections Overall Asset-Liability Structure and Interest Margin Changes - The asset-liability structure shows an increase in loan-to-earning asset ratio from 54.19% to 56.49%, with corporate loans making up a larger share of total loans [14][15] - The average yield on interest-earning assets decreased significantly, with the loan yield falling from 5.34% to 3.82% [15] - The net interest margin for listed banks remains higher than that of commercial banks, despite a decline [14][15] Changes in Each Banking Sector's Asset-Liability Structure and Interest Margin - City commercial banks experienced a more significant increase in the proportion of corporate loans, with their interest margin narrowing less compared to other banks [18] - The report highlights that the proportion of deposits in interest-bearing liabilities for state-owned banks decreased, while it increased for rural commercial banks [18] - The decline in interest-bearing liabilities' cost rate was most pronounced in city commercial banks, leading to a smaller reduction in their interest margin [18]

Market Performance - The city commercial bank sector declined by 0.94% on September 25, with Chongqing Bank leading the decline [1] - The Shanghai Composite Index closed at 3853.3, down 0.01%, while the Shenzhen Component Index closed at 13445.9, up 0.67% [1] Individual Stock Performance - Chongqing Bank closed at 8.94, down 1.65% with a trading volume of 170,700 shares and a transaction value of 153 million [1] - Other notable declines include Xi'an Bank down 1.50% to 3.95, Zhengzhou Bank down 1.48% to 2.00, and Qingdao Bank down 1.44% to 4.78 [1] - Shanghai Bank and Xiamen Bank also saw declines of 1.43% and 1.39%, respectively [1] Capital Flow Analysis - The city commercial bank sector experienced a net outflow of 278 million from institutional investors, while retail investors saw a net inflow of 152 million [1] - The table indicates that Suzhou Bank had a significant net outflow from institutional investors of 48.08 million, while Qilu Bank had a net inflow of 25.86 million [2] - Chongqing Bank specifically had a net outflow of 5.68 million from institutional investors but a net inflow of 10.91 million from retail investors [2]

Market Performance - The city commercial bank sector increased by 1.64% on September 24, with Qilu Bank leading the gains [1] - The Shanghai Composite Index closed at 3853.64, up 0.83%, while the Shenzhen Component Index closed at 13356.14, up 1.8% [1] Individual Stock Performance - Qilu Bank closed at 5.87, with a rise of 1.73% and a trading volume of 1.0666 million shares, amounting to a transaction value of 624 million yuan [1] - Hangzhou Bank closed at 15.32, up 0.66%, with a trading volume of 451,600 shares and a transaction value of 691 million yuan [1] - Zhengzhou Bank closed at 2.03, up 0.50%, with a trading volume of 920,500 shares and a transaction value of 18.7 million yuan [1] - Nanjing Bank closed at 11.01, up 0.46%, with a trading volume of 1.7333 million shares and a transaction value of 806 million yuan [1] - Other banks such as Changsha Bank, Ningbo Bank, and Qingdao Bank also showed slight increases in their stock prices [1] Capital Flow Analysis - The city commercial bank sector experienced a net outflow of 69.1764 million yuan from institutional investors, while retail investors saw a net inflow of 55.8208 million yuan [2] - The overall capital flow indicates a mixed sentiment, with institutional investors withdrawing funds while retail investors continued to invest [2] Detailed Capital Flow for Selected Banks - Ningbo Bank had a net inflow of 74.388 million yuan from institutional investors, but a net outflow of 51.098 million yuan from speculative funds [3] - Shanghai Bank saw a net inflow of 17.1761 million yuan from institutional investors, while retail investors had a net outflow of 30.1701 million yuan [3] - Chengdu Bank experienced a net inflow of 16.3117 million yuan from institutional investors, with a net outflow from retail investors [3]

Core Viewpoint - The banking sector showed a positive performance with a 1.52% increase, while the overall market experienced a slight decline of 0.18% on September 23, 2023 [1] Market Performance - The Shanghai Composite Index fell by 0.18% on September 23, 2023 - Among the sectors, five industries saw gains, with banking and coal being the top performers, increasing by 1.52% and 1.11% respectively - The sectors that faced the largest declines were social services and retail trade, with decreases of 3.11% and 2.90% respectively [1] Capital Flow - The net outflow of capital from the two markets reached 996.85 billion yuan, with only three sectors experiencing net inflows - The banking sector had a net inflow of 14.00 billion yuan, while the construction and decoration sector saw a net inflow of 1.69 billion yuan, and the coal sector had a minor net inflow of 399.41 million yuan - A total of 28 sectors experienced net outflows, with the electronics sector leading with a net outflow of 200.43 billion yuan, followed by the computer sector with 166.60 billion yuan [1] Banking Sector Details - The banking sector had 42 stocks, with 40 stocks rising and only one stock declining - The top three banks by net inflow were Industrial and Commercial Bank of China (4.62 billion yuan), Bank of China (2.50 billion yuan), and China Merchants Bank (2.36 billion yuan) [2] - The stocks with the largest net outflows included Ningbo Bank (1.81 billion yuan), Chengdu Bank (1.03 billion yuan), and Shanghai Pudong Development Bank (967.62 million yuan) [2][3] Individual Stock Performance - The top performing bank stocks included: - Industrial and Commercial Bank of China: +3.06% with a net inflow of 462.06 million yuan - Bank of China: +1.73% with a net inflow of 249.79 million yuan - China Merchants Bank: +1.54% with a net inflow of 236.27 million yuan - Other notable performers included Agricultural Bank of China (+2.47%) and China Construction Bank (+3.03%) [2][3]

Core Viewpoint - The recent leadership changes at Chengdu Bank, with the election of Huang Jianjun as Chairman and Zhang Yuming as Vice Chairman, mark a significant step in the bank's development journey, particularly in the context of the Chengdu-Chongqing economic circle [1][2]. Leadership Changes - Huang Jianjun, a long-time member of Chengdu Bank, has a robust background in banking and has previously held various leadership roles, including at Chengdu Rural Commercial Bank, where he achieved notable growth in revenue and profit [3]. - Zhang Yuming, representing Malaysian foreign strategic shareholder Hong Leong Bank, brings extensive experience from various banking roles in Malaysia and Cambodia [4]. - The new leadership team is expected to continue the bank's development trajectory, following the recent departure of former Chairman Wang Hui and the retirement of long-serving Vice Chairman He Weizhong [5]. Shareholder Dynamics - Chengdu Bank has seen increased confidence from state-owned shareholders, with recent investments exceeding 160 million yuan, raising their combined stake to approximately 30% [7]. - The bank's ownership structure includes a mix of state-owned and foreign strategic shareholders, which enhances its competitive edge by combining government support with market-driven strategies [8]. Financial Performance and Challenges - Chengdu Bank has achieved record financial results in 2024, with total assets reaching 1.25 trillion yuan, and has maintained significant growth in revenue and profit over the past four years [9]. - However, the bank faces challenges such as slowing growth rates and a high concentration of loans among its top clients, particularly in the leasing and real estate sectors [10]. - The bank's retail banking segment remains underdeveloped, with personal loans accounting for only about 18% of its total loans, indicating a need for strategic shifts to enhance this area [11]. Strategic Outlook - The ongoing development of the Chengdu-Chongqing economic circle presents opportunities for Chengdu Bank to strengthen its position and address its transformation challenges [12].

第八届董事会第十九次（临时）会议决议公告 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。 成都银行股份有限公司（以下简称"本公司"）于2025年9月22日以电子邮件及书面方式向全体董事发出 关于召开董事会会议的通知和材料，本公司第八届董事会第十九次（临时）会议于2025年9月22日在本 公司总部5楼1号会议室以现场结合视频方式召开。本次会议应出席有表决权董事11名，徐登义、付剑 峰、余力、马晓峰、顾培东、马骁、余海宗7名董事现场出席，郭令海、陈存泰、龙文彬3名董事通过视 频连线方式参加会议，董事王永强因公务原因无法出席会议，书面委托董事付剑峰代为出席并行使表决 权。会议由副董事长、行长徐登义（代为履行董事长职责）主持。4名监事以及本公司部分高级管理人 员等列席会议。会议的召开符合《中华人民共和国公司法》《中华人民共和国证券法》等法律、行政法 规、部门规章、规范性文件及《成都银行股份有限公司章程》（以下简称"《公司章程》"）的有关规 定。会议所形成的决议合法、有效。 选举黄建军先生为成都银行股份有限公司第八届董事会董事长。黄建军 ...

【导读】1975年的黄建军，当选成都银行董事长 中国基金报记者 江右 9月22日晚间，成都银行发布公告称，公司董事会选举黄建军为董事长。黄建军为1975年出生，此前曾 任成都银行副行长，而后调任成都农商银行，担任过行长、董事长，如今又回来任职成都银行董事长。 成都银行表示，9月22日召开董事会，审议通过了《关于选举成都银行股份有限公司第八届董事会董事 长的议案》。选举黄建军先生为成都银行公司第八届董事会董事长。黄建军董事长任职资格尚需报监管 部门核准，其任职自任职资格获得核准之日起生效。 成都银行还选举了副董事长，选举张育鸣先生为成都银行第八届董事会副董事长。张育鸣副董事长任职 资格尚需监管部门核准，其任职自任职资格获得核准之日起生效。 一个月前的8月17日，成都银行公告称，董事会于近日收到董事长王晖先生提交的辞职报告。王晖从成 都银行董事长辞任后，至成都农商银行任董事长，而在成都农商银行任董事长的黄建军，再度回到成都 银行任董事长。 公告同时披露的黄建军履历显示，男，1975年11月出生，四川大学政治经济学专业毕业，在职博士研究 生，正高级经济师。现任成都银行党委书记、董事（任职资格待监管部门核准）、董事长 ...

黄建军简历 黄建军，男，1975年11月出生，四川大学政治经济学专业毕业，在职博士研究生，正高级经济师。现任 成都银行党委书记、董事（任职资格待监管部门核准）、董事长（任职资格待监管部门核准）。 曾任成都市商业银行办公室秘书科科长、办公室副主任兼目标督查办公室主任、董事会办公室主任、公 司业务部总经理、中小企业部总经理；成都银行高新支行行长，公司业务部总经理，西安分行党委书 记、行长；成都市商业银行董事会秘书，成都银行行长助理、党委委员、副行长，其间挂职广东省佛山 市金融局副局长；成都农商银行党委副书记、代理董事长、董事、行长；成都农商银行党委书记、董事 长。 曾兼任四川省金融学会第七届理事会理事、副会长；四川省银行业协会第九届监事会监事。 9月22日，成都银行发布公告称，该行董事会审议通过了《关于选举成都银行股份有限公司第八届董事 会董事长的议案》，选举黄建军为成都银行股份有限公司第八届董事会董事长。黄建军董事长任职资格 尚需报国务院银行业监督管理机构核准，其任职自任职资格获得核准之日起生效。 同时，成都银行董事会还审议通过了《关于选举成都银行股份有限公司第八届董事会副董事长的议 案》，选举张育鸣为成都银行 ...

证券代码：601838 证券简称：成都银行 公告编号：2025-059 成都银行股份有限公司 2025年第二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 | 482 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 2,452,901,473 | | 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 | 57.8728 | | 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。 本次股东大会由公司董事会召集，由副董事长、行长徐登义先生（代为履行 (一) 股东大会召开的时间：2025 年 9 月 22 日 (二) 股东大会召开的地点：四川省成都市西御街 16 号成都银行大厦 5 楼 3 号会议室 (三) 出席会议的普通股股东及其持有股份情况： 董事长职责）主持会议。本次股东大会采取现场和网络投票相结合的方式， ...