佳膏. (86-10) 8519-1350 关于成都银行股份有限公司 2025 年第二次临时股东大会 的法律意见书 致:成都银行股份有限公司 北京市君合律师事务所(以下简称"本所")接受成都银行股份有限公司 (以 下简称"贵公司")的委托,就贵公司2025年第二次临时股东大会(以下简称"本 次会议"）召集、召开的有关事宜,根据《中华人民共和国公司法》(以下简称 "《公司法》"）、中国证券监督管理委员会《上市公司股东会规则》（以下简 称"《股东会规则》")等中国(为出具本法律意见书之目的,不包括香港特别 行政区和澳门特别行政区及台湾省)法律、法规、规章及贵公司现行有效的《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,出具本 法律意见书。 为出具本法律意见书之目的,本所委派律师(以下简称"本所律师")列席 了贵公司本次会议,并根据现行法律、法规、规章的有关规定及要求,按照律师 行业公认的业务标准、道德规范和勤勉尽责精神,对贵公司提供的与本次会议召 开有关的文件和事实进行了核查和验证,在此基础上,本所律师对本法律意见书 出具之日及以前所发生的相关事实发表法律意见如下: 一、关于本次会议的召集和 ...

证券代码：601838 证券简称：成都银行 公告编号：2025-060 成都银行股份有限公司 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 ...

每经头条（nbdtoutiao）——报价太低遭严防，投标企业还得"解释清楚"，一场国家组织的大型采购， 为何引发全行业关注 （记者 王晓波） 每经AI快讯，成都银行（SH 601838，收盘价：17.15元）9月22日晚间发布公告称，公司第八届第十九 次董事会临时会议于2025年9月22日在公司总部5楼1号会议室以现场结合视频方式召开。会议审议了 《关于增补第八届董事会专门委员会委员的议案》等文件。 2025年1至6月份，成都银行的营业收入构成为：利息收入占比175.29%，非利息收入占比2.23%。 截至发稿，成都银行市值为727亿元。 ...

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]

Core Viewpoint - Chengdu Bank has actively engaged in anti-counterfeit currency education through various community outreach activities, aiming to enhance public awareness and skills in identifying counterfeit money [1][3][14]. Group 1: Community Engagement - Since September, Chengdu Bank has organized multiple promotional teams to conduct anti-counterfeit currency activities in high-traffic areas such as international auto shows and tourist attractions, as well as in senior citizen homes [3][4]. - The bank's outreach included a themed event at a senior citizen home, where over 40 elderly participants learned about currency security and the importance of recognizing counterfeit money [4][6]. Group 2: Educational Initiatives - During the events, bank staff demonstrated the seven security features of the new RMB banknotes, engaging the elderly in hands-on learning experiences [6][8]. - At the Chengdu International Auto Show, bank representatives provided practical tips on identifying counterfeit and altered banknotes, emphasizing the need for vigilance during large transactions [8][9]. Group 3: Public Awareness and Support - Chengdu Bank set up a financial knowledge service point in the popular tourist area of Kuanzhai Alley, offering anti-counterfeit currency education and cash exchange services to enhance payment convenience for visitors [9][11]. - The bank also proactively visited local merchants to educate them on recognizing counterfeit money and the importance of cash transactions, providing them with resources for better service [13][14].

Core Viewpoint - Chengdu Bank's stock price has experienced a decline recently, with a current trading price of 17.17 yuan per share and a market capitalization of 72.774 billion yuan, despite a year-to-date increase of 5.86% [1] Financial Performance - For the first half of 2025, Chengdu Bank reported a net profit attributable to shareholders of 6.617 billion yuan, representing a year-on-year growth of 7.29% [1] - The bank has distributed a total of 17.856 billion yuan in dividends since its A-share listing, with 10.126 billion yuan distributed over the past three years [2] Stock Market Activity - As of September 22, 2023, Chengdu Bank's stock has seen a 4.98% decline over the last five trading days and a 10.61% decline over the last 60 days [1] - The stock's trading volume on September 22 was 350 million yuan, with a turnover rate of 0.48% [1] Shareholder Information - As of June 30, 2025, the number of shareholders for Chengdu Bank was 44,600, a decrease of 1.83% from the previous period [1] - The average number of circulating shares per shareholder increased by 1.87% to 94,868 shares [1] - Hong Kong Central Clearing Limited is the third-largest circulating shareholder, holding 247 million shares, an increase of 4.398 million shares from the previous period [2]

Core Insights - Chengdu Bank's 2025 semi-annual report highlights a strong performance in revenue, profit, and asset quality, achieving a historical high in operating income and net profit amidst a challenging financial environment [2][4][10] Financial Performance - The bank reported operating income of 12.27 billion yuan, a year-on-year increase of 5.91%, marking the first time it surpassed 12 billion yuan in the first half of the year [2] - Net profit attributable to shareholders reached 6.62 billion yuan, up 7.29% year-on-year, with an annualized return on equity of 15.88% [2] - Interest income was 9.77 billion yuan, a 7.59% increase, constituting approximately 80% of total revenue, demonstrating strong operational capabilities [2][4] Asset Quality and Growth - Total assets grew to 1.37 trillion yuan, a 9.77% increase from the beginning of the year, with deposits totaling 983.48 billion yuan, up 11.02% [4][5] - The bank maintained a low non-performing loan ratio of 0.66% and a high provision coverage ratio of 452.65%, indicating robust risk management [4][5] Business Development - Chengdu Bank achieved nearly 100 billion yuan in new deposits and loans in the first half of the year, both setting historical records [3] - Retail banking saw significant growth, with personal deposits exceeding 500 billion yuan, a 15.84% increase, enhancing the bank's low-cost funding base [5] - The bank's corporate loans and advances reached 689.64 billion yuan, a 14.44% increase, with over 80% of loans directed towards corporate clients [5][7] Strategic Initiatives - The bank is actively supporting major infrastructure projects, including the Tianfu Airport Phase II and urban rail transit, with special bond issuance exceeding 45 billion yuan [9] - Chengdu Bank is enhancing its regional presence by opening new branches in key industrial areas, integrating financial services with local economic development [8][9] Future Outlook - The bank plans to focus on key industries such as artificial intelligence, high-end energy equipment, and healthcare in the second half of 2025, aiming to deepen the integration of finance with the real economy [10][11] - Chengdu Bank is committed to improving service quality and efficiency in retail banking, while also enhancing support for small and micro enterprises [11][12]

Investment Rating - The report maintains a "Positive" investment rating for the banking sector [11] Core Insights - Recent adjustments in bank stocks have led to accelerated share buybacks by state-owned shareholders and management, indicating strong recognition of investment value [2][6] - The systematic increase in holdings by state-owned shareholders reflects a demand to optimize financial equity layouts amid asset scarcity, highlighting the core advantages of low valuations, stable profits, and dividends in bank stocks [7][41] - The report emphasizes the long-term investment value of regional leading city commercial banks, particularly after two rounds of debt restructuring [7][41] Summary by Sections Shareholder Activity - In the past week, banks such as Qingdao Bank, Nanjing Bank, and Chengdu Bank have disclosed progress in share buybacks by state-owned shareholders, showcasing their confidence in investment value [2][6] - Nanjing Bank has seen its state-owned shareholder, Nanjing High-tech, increase its stake by 1.05%, bringing its total holding to 9.99% [6][41] - Other banks, including Suzhou Bank and Qingdao Bank, have also reported significant buyback plans, with Suzhou Bank's shareholders increasing their holdings by 856 million yuan earlier this year [6][41] Market Performance - The banking index has experienced a cumulative decline of 4.1% this week, underperforming the CSI 300 index by 3.6% and the ChiNext index by 6.4% [9][20] - Despite the recent downturn, the long-term investment logic remains solid, with individual stocks like Qilu Bank showing resilience due to management buybacks [9][20] Dividend and Earnings Outlook - The report notes that the expected dividend yield for leading city commercial banks has risen to around 5%, with specific banks like Jiangsu Bank and Chengdu Bank reaching yields of 5.5% [7][8] - The stability of the banking sector's fundamentals is highlighted, with expectations for net interest income to maintain stable growth despite market fluctuations [8][40] - Mid-term dividends are set to commence, with several banks planning to distribute dividends in the fourth quarter, creating an attractive entry point for absolute return funds [8][40] Valuation and Investment Opportunities - The report suggests that the recent valuation adjustments have created significant investment opportunities in bank stocks, particularly for those focusing on dividend yields [7][44] - The ongoing adjustments in the bond market and the anticipated stabilization of loan interest rates are expected to support the banks' revenue streams [8][44]

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].

Investment Rating - The investment rating for Chengdu Bank is maintained at "Buy" with a target price of RMB 23.33 [1][9]. Core Views - The report highlights the steady progress of the major shareholder's increase in holdings, reflecting confidence in the bank's value and development potential [5][6]. - Recent trends show a wave of share buybacks among listed banks, indicating strong recognition of value and confidence in future growth [8]. - The bank's fundamentals remain solid, with a stable transition in management and a focus on risk control, maintaining a high provision coverage ratio [7]. Financial Performance and Forecast - Chengdu Bank's revenue and net profit are projected to grow steadily, with expected revenues of RMB 22,982 million in 2024 and RMB 24,311 million in 2025, reflecting growth rates of 5.89% and 5.78% respectively [4][19]. - The bank's net profit attributable to shareholders is forecasted to reach RMB 12,858 million in 2024 and RMB 13,817 million in 2025, with growth rates of 10.17% and 7.46% respectively [4][19]. - The non-performing loan ratio is expected to remain stable at 0.66% for 2025 and 2026, indicating strong asset quality management [4][19]. Valuation Metrics - The report maintains a target price-to-book (PB) ratio of 1.10 for 2025, with a corresponding target price of RMB 23.33, reflecting the bank's strong position in the industry [9]. - The forecasted earnings per share (EPS) for 2025 is RMB 3.26, with a price-to-earnings (PE) ratio of 5.38 [19]. - The dividend yield is projected to increase from 4.99% in 2024 to 5.37% in 2025, indicating a commitment to returning value to shareholders [19].