Group 1 - The city commercial bank sector increased by 0.43% on December 2, with Jiangsu Bank leading the gains [1] - The Shanghai Composite Index closed at 3897.71, down 0.42%, while the Shenzhen Component Index closed at 13056.7, down 0.68% [1] - Jiangsu Bank's closing price was 10.95, reflecting a 1.67% increase, with a trading volume of 1.7435 million shares and a transaction value of 1.897 billion [1] Group 2 - The city commercial bank sector experienced a net outflow of 316 million from institutional funds, while retail investors saw a net inflow of 421 million [2][3] - The trading data for various banks showed mixed performance, with Ningbo Bank declining by 0.69% and Guizhou Bank remaining unchanged [2] - Shanghai Bank had a net outflow of 46.6477 million from institutional funds, while retail investors contributed a net inflow of 2.33839 million [3]

证券研究报告·金融工程·金工定期报告 金工定期报告 20251202 预期高股息组合跟踪-20251128 2025 年 12 月 02 日 [Table_Tag] [Table_Summary] 投资要点 ◼ 2025 年 12 月组合最新持仓明细： | 序号 | 股票代码 | 股票简称 | 申万一级行业 | 建仓日期 | 权重 | | --- | --- | --- | --- | --- | --- | | 1 | 601838.SH | 成都银行 | 银行 | 2025/12/1 | 3.33% | | 2 | 601077.SH | 渝农商行 | 银行 | 2025/12/1 | 3.33% | | 3 | 600000.SH | 浦发银行 | 银行 | 2025/12/1 | 3.33% | | 4 | 600919.SH | 江苏银行 | 银行 | 2025/12/1 | 3.33% | | 5 | 601998.SH | 中信银行 | 银行 | 2025/12/1 | 3.33% | | 6 | 601658.SH | 邮储银行 | 银行 | 2025/12/1 | 3.33% | | 7 | ...

Summary of Key Points from the Conference Call Industry Overview - **Industry**: China Financials, specifically focusing on manufacturing and infrastructure investments in China [1][5][7] Core Insights and Arguments - **Manufacturing FAI Growth**: There has been a notable slowdown in manufacturing Fixed Asset Investment (FAI) growth, dropping to 2.7% year-over-year (yoy) from 4.0% yoy in the previous month, indicating steady progress on capital expenditure (capex) slowdown [7] - **Liability Growth**: Total liability growth for industrial firms moderated to 5.0% yoy, while manufacturing firms saw a slight increase to 5.9% yoy. This moderation is expected to lead to more rational capacity expansion [2][7] - **Revenue Decline**: Manufacturing revenue declined by 4.3% yoy, attributed to lower production levels due to overcapacity control efforts. The Value-Added Industrial (VAI) growth also slowed to 4.9% yoy from 6.5% yoy in September [3][10] - **Profit Growth**: Manufacturing profit growth moderated to 7.7% yoy from 9.9% yoy in September, influenced by higher financing costs and lower production [10] Future Outlook - **Infrastructure Investment**: A potential increase in infrastructure investments, supported by a new RMB 500 billion fund from the China Development Bank, is expected to bolster demand in 2026 and aid in the digestion of overcapacity risks [8][3] - **Sector Performance**: 77.1% of sectors experienced a slowdown in capex in October 2025 compared to the first half of 2025, while 39.3% of sectors showed profit improvement [9][7] Additional Important Information - **PPI Trends**: The Producer Price Index (PPI) rebounded month-over-month for the first time since December 2024, with the year-over-year decline narrowing to 2.1% [7] - **Investment Sentiment**: The overall sentiment towards the China Financials sector remains attractive, with ongoing efforts in financial tightening contributing to anti-involution measures [5][4] This summary encapsulates the critical insights from the conference call, highlighting the current state and future expectations of the manufacturing and financial sectors in China.

Market Performance - The city commercial bank sector increased by 1.5% on December 1, with Xiamen Bank leading the gains [1] - The Shanghai Composite Index closed at 3914.01, up 0.65%, while the Shenzhen Component Index closed at 13146.72, up 1.25% [1] Individual Bank Performance - Xiamen Bank's closing price was 7.52, with a rise of 5.17% and a trading volume of 366,500 shares, amounting to 272 million yuan [1] - Qilu Bank closed at 6.12, up 3.38%, with a trading volume of 1.26 million shares, totaling 768 million yuan [1] - Nanjing Bank's closing price was 11.85, increasing by 2.42%, with a trading volume of 647,000 shares, amounting to 760 million yuan [1] - Shanghai Bank closed at 10.06, up 1.82%, with a trading volume of 591,800 shares, totaling 593 million yuan [1] - Chengdu Bank's closing price was 17.17, increasing by 1.78%, with a trading volume of 466,800 shares, amounting to 797 million yuan [1] Fund Flow Analysis - The city commercial bank sector experienced a net outflow of 278 million yuan from institutional investors, while retail investors saw a net inflow of 240 million yuan [1] - The table shows various banks' net fund flows, indicating mixed results among different institutions [2]

Core Viewpoint - The A-share market has seen a significant increase in bank stocks, with notable gains in several banks on December 1st, indicating positive market sentiment towards the banking sector [1]. Summary by Category Stock Performance - Zhangjiagang Bank increased by 5.07%, with a total market capitalization of 11.7 billion and a year-to-date increase of 16.95% [2]. - Xiamen Bank rose by 4.34%, with a market cap of 19.7 billion and a year-to-date increase of 35.40% [2]. - Qilu Bank saw a 3.38% increase, with a market cap of 37.7 billion and a year-to-date increase of 14.59% [2]. - Jiangyin Bank increased by 2.07%, with a market cap of 12.1 billion and a year-to-date increase of 18.46% [2]. - Wuxi Bank and Shanghai Bank both rose nearly 2%, with market caps of 13.5 billion and 143.1 billion respectively, and year-to-date increases of 10.04% and 15.96% [1][2]. Technical Indicators - The formation of a MACD golden cross signal suggests a positive trend for these bank stocks, contributing to their upward momentum [1].

Core Viewpoint - The banking sector experienced a notable upward trend on December 1, with several banks showing significant gains in their stock prices, indicating positive market sentiment towards the banking industry [1][2]. Group 1: Stock Performance - Zhangjiagang Bank saw an increase of over 5%, reaching a price of 4.79 [2]. - Xiamen Bank rose by more than 4%, with its stock priced at 7.44 [2]. - Qilu Bank experienced a gain of over 3.5%, with its stock priced at 6.13 [2]. - Other banks such as Nanjing Bank, Chongqing Rural Commercial Bank, and Jiangyin Bank also reported increases in their stock prices, contributing to the overall positive performance of the banking sector [1][2].

本报（chinatimes.net.cn）记者张萌 卢梦雪 北京报道 2026届校园秋招正在进行，金融行业"抢人大战"持续升温。 近日，成都两家地方银行公布的总行管培生岗位过审名单在社交平台引发热议。两个仅各招聘10人的岗 位，竟吸引了数百名来自全球顶尖高校的应届毕业生参与角逐。 具体来看，成都银行总行管培生岗位共有82人通过资格审核，其中北京大学与清华大学毕业生合计占比 超过七成，其余候选人也均来自复旦大学等国内外一流高校；而成都农商银行的这一岗位有279人通过 资格审核，来自香港大学、北京大学、复旦大学、南洋理工大学和新加坡国立大学的毕业生占比超六 成。 "其实并不意外。"有应届生向记者表示，"一方面大家普遍'广撒网'，多点投递；另一方面，周围确实有 不少同学考虑到新一线城市发展。" 总行管培生受青睐 今年秋招季，记者前往北京多所高校银行宣讲会，深入了解2026届校园招聘情况。在这些宣讲会 上，"总行管培生"项目及其培养政策成为最受关注的焦点之一。 据多家银行介绍，总行管培生主要作为总行各部门业务与管理岗位的人才储备，通常需经历实践锻炼、 轮岗培养等阶段，培养期满并通过考核后，将正式进入总行工作。除总行外 ...

Core Viewpoint - Chengdu Bank is enhancing its regional wealth management brand "Furong Jincheng" through various measures, focusing on a stable and low-volatility investment strategy [1][4]. Group 1: Industry Trends - The 2025 Asset Management Summit Forum highlighted the transition of China's asset management industry towards high-quality development, emphasizing the importance of technology and green finance [2]. - The year 2025 marks a significant point in China's "14th Five-Year Plan," with a focus on embracing new productive forces and enhancing the personal pension system [2]. Group 2: Chengdu Bank's Performance - Chengdu Bank ranked 324th in the "Fortune" China 500 list for 2025, improving by 35 places from the previous year, and 170th in the "Banker" magazine's "Global 1000 Banks" list, up by 14 places [3]. - The bank's net asset scale of existing wealth management products reached 60.34 billion yuan by the end of 2024, generating 411 million yuan in wealth management intermediary business income [4]. Group 3: Business Strategy - Chengdu Bank is committed to serving urban and rural residents, small and micro enterprises, and the local economy, establishing a unique business model and competitive advantage [3]. - The bank is enhancing its wealth management capabilities by diversifying its product offerings, optimizing asset allocation, and strengthening its wealth management talent pool [4][5]. - The bank is leveraging digital transformation to expand its customer base and improve service quality, aiming for a distinctive high-quality development path in asset management [5].

2025 年第三次临时股东大会 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年第三次临时股东大会（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。 本法律意见书仅就本次会议的召集和召开程序、出席本次会议人员的资格、 本次会议表决程序是否符合中国相关法律、法规及《公司章程》的规定以及表决 结果是否合法有效发表意见，并不对本次会议所审议的议案内容以及该等议案所 表述的相关事实或数据的真实性、准确性或合法性发表意见。 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 ...

证券代码：601838 证券简称：成都银行 公告编号：2025-068 成都银行股份有限公司 2025年第三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 《中华人民共和国公司法》《上市公司股东会规则》等法律、法规、规章及《成 都银行股份有限公司章程》的规定。 一、 会议召开和出席情况 (一)股东大会召开的时间：2025 年 11 月 28 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： | 1、出席会议的股东和代理人人数 | 697 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 2,540,762,251 | | 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 | | | 份总数的比例（%） | 59.9457 | (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 ...