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。 - 1 - BANK OF CHONGQING CO., LTD. * * 1963 建議修訂公司章程和若干議事規則 茲提述重慶銀行股份有限公司*（「本行」）日期為2025年6月27日的公告，內容有關（其中包 括）不再設立監事會。 建議修訂公司章程 為在公司治理中進一步加强黨的領導，完善現代金融企業制度，加强內部管理，促進本 行穩健可持續發展，提升公司治理質效，根據《中華人民共和國公司法（2023修訂）》（「《公 司法》」）、《銀行保險機構公司治理準則》、《上市公司章程指引》（2025修訂）、《上市公司 獨立董事管理辦法》、《上海證券交易所股票上市規則》等法律、法規、規章及上市規則， 結合同業章程修訂情況和本行經營管理實際，本行董事會（「董事會」）審議並批准了對本 行現行公司章程（「公司章程」）的若干建議修訂，主要修訂內容涉及對黨建相關內容進行 梳理和完善、對股東的權利和義務、股東會的職權以及議事流程等 ...

Core Insights - The city commercial bank sector experienced a decline of 0.77% on October 24, with Xiamen Bank leading the drop [1] - The Shanghai Composite Index closed at 3950.31, up 0.71%, while the Shenzhen Component Index closed at 13289.18, up 2.02% [1] Stock Performance - Shanghai Bank closed at 9.67, up 0.73% with a trading volume of 848,400 shares and a transaction value of 822 million [1] - Xiamen Bank closed at 6.68, down 1.76% with a trading volume of 153,100 shares and a transaction value of 103 million [2] - The majority of city commercial bank stocks showed negative performance, with notable declines in Beijing Bank (-0.52%) and Guizhou Bank (-0.66%) [1][2] Capital Flow - The city commercial bank sector saw a net outflow of 142 million from institutional investors, while retail investors contributed a net inflow of 55.9 million [2] - Jiangsu Bank had a net inflow of 70.84 million from institutional investors, while Shanghai Bank experienced a net outflow of 78.96 million from retail investors [3] Individual Stock Analysis - Chengdu Bank had a slight negative net flow from institutional investors of 19.75 million, but a positive inflow from retail investors of 596.99 million [3] - Lanzhou Bank saw a net inflow of 13.36 million from institutional investors, while it faced a net outflow of 1.48 million from retail investors [3]

作为银行主营的存贷款业务的营收体现，利息净收入对营业收入的贡献度最高，是商业银行最主要的收 入来源。保持合适的净息差水平有利于银行补充核心资本以及提升风险抵御能力。受贷款市场报价利率 (LPR)下调、存量房贷利率调整、存款期限结构变动等因素影响，当前商业银行息差压力犹存。 中报季落下帷幕，重庆银行在这场金融"大考"中脱颖而出，向市场交出了一份亮眼的成绩单。2025年上 半年，该行实现营业收入76.59亿元、净利润33.94亿元、净利息收入超58亿元，同比分别增长7%、 5.7%、12.2%。在人均、网均资产及利润等多项指标方面，保持全国上市城农商行较好水平，彰显出强 劲的发展态势。 立足城商行市场定位，重庆银行深度融入国家战略发展大局、加力做好金融"五篇大文章"。截至2025年 7月31日，资产总额达到10087亿元，提前完成"十四五"战略规划目标。资产规模稳步扩张的同时，资产 质量亦呈现出持续向好的态势，主要风控指标实现"三降一升"。截至6月末，该行不良贷款率、关注贷 款率、逾期贷款率分别为1.17%、2.05%、1.58%，较年初下降0.08、0.59、0.15个百分点；拨备覆盖率提 升3.2个百分点至2 ...

Core Viewpoint - Chongqing Bank has successfully transitioned from a regional bank to a significant national financial entity, achieving a total asset of 1,008.7 billion yuan by July 2025, marking a growth of 152.1 billion yuan or 17.76% year-on-year, and becoming the first city commercial bank in China to reach the trillion-yuan mark in both A and H shares [1][2]. Group 1: Growth and Performance - As of July 2025, Chongqing Bank's deposit scale exceeded 540 billion yuan, and loan scale surpassed 500 billion yuan, with increases of 14.8% and 13.6% respectively since the beginning of the year [2]. - The bank achieved a loan increment of 60 billion yuan, leading the financial institutions in Chongqing and increasing its market share by 0.54 percentage points [2]. - In the first half of 2025, Chongqing Bank reported revenue of nearly 7.7 billion yuan, net interest income exceeding 5.8 billion yuan, and net profit close to 3.4 billion yuan, reflecting year-on-year growth of 7%, 12.2%, and 5.7% respectively [2]. Group 2: Asset Quality and Risk Management - Chongqing Bank's non-performing loan (NPL) ratio decreased to 1.17% by the end of Q2 2025, outperforming the national average of 1.49% [3]. - The bank's provision coverage ratio improved by 3.2 percentage points to 248.3%, significantly above the industry average, enhancing its risk buffer [3]. Group 3: Strategic Initiatives and Regional Development - Chongqing Bank provided nearly 140 billion yuan in credit support for the Chengdu-Chongqing economic circle, financing over 90 major regional projects [4]. - The bank has actively participated in the construction of the Western Land-Sea New Corridor, with a financing balance exceeding 47 billion yuan, representing a year-on-year growth of 175% [5]. Group 4: Support for Small and Micro Enterprises - Chongqing Bank issued a 5 billion yuan special financial bond for small and micro enterprises at a record low interest rate of 1.98%, marking its third consecutive year of issuing such bonds [7]. - The bank's small and micro enterprise loan balance reached 182.25 billion yuan, with a year-on-year increase of 33.12 billion yuan, indicating a strong commitment to supporting this sector [8]. Group 5: Future Outlook - The bank's transition to a trillion-yuan scale is seen as a milestone and a new starting point, emphasizing the importance of maintaining flexibility and innovation in decision-making [9]. - Future strategies will focus on balancing large corporate projects with small-scale inclusive finance, while enhancing its role in the Chengdu-Chongqing economic circle and the Western Land-Sea New Corridor [9].

Group 1 - The A-share market saw a general decline in bank stocks, with Jiangyin Bank dropping over 3%, and several other banks including Xi'an Bank, Chongqing Bank, and Yunnan Rural Commercial Bank falling more than 1% [1] - Agricultural Bank was an exception, experiencing a slight increase of 0.5% [1] - The year-to-date performance of various banks shows Jiangyin Bank with a 22.07% increase, while Xi'an Bank and Chongqing Bank have year-to-date increases of 17.17% and 14.57% respectively [2] Group 2 - Jiangyin Bank's market capitalization is reported at 12.5 billion, while Xi'an Bank's is at 18.4 billion, and Chongqing Bank's is at 35.4 billion [2] - Other banks such as Qingdao Bank and Su Nong Bank also experienced declines of nearly 1%, with market capitalizations of 30.2 billion and 10.7 billion respectively [2] - The overall trend indicates a mixed performance among bank stocks, with some showing significant year-to-date gains despite the recent declines [2]

Core Points - The company has approved the use of idle raised funds for cash management, allowing up to RMB 200 million for investment in financial products [1][14] - The company has successfully redeemed a structured deposit from Chongqing Bank, recovering the principal of RMB 35 million and earning interest of RMB 857,500 [1][2] - The purpose of using idle funds for financial products is to enhance fund efficiency and provide returns to shareholders [2][4] Summary by Sections Investment Management - The company has utilized idle raised funds to purchase structured deposits, specifically the Chongqing Bank Structured Deposit 2025 No. 457, with an investment amount of RMB 35 million [7][9] - The structured deposit is a principal-protected product with floating returns, meeting the criteria for high safety and liquidity [9][10] Fund Sources - The funds used for the financial products are sourced from idle raised funds, which were initially raised through an IPO that generated RMB 842.14 million, netting RMB 790 million after expenses [4][5] Financial Performance - As of June 30, 2025, the company's monetary funds amounted to RMB 1,608.92 million, with the recent investment of RMB 35 million representing 2.18% of the total funds [13][16] - The investment in financial products is not expected to significantly impact the company's future operations or financial status [13][16] Risk Management - The company has established internal controls for managing investment risks, including regular monitoring and audits by the finance department and independent directors [7][10][12] - The company ensures compliance with relevant regulations and maintains transparency in financial disclosures [11][14]

Core Viewpoint - Chongqing Bank has faced significant regulatory penalties and management changes, highlighting ongoing compliance issues and challenges in achieving sustainable growth amidst a backdrop of operational expansion and risk management failures [1][7][10]. Regulatory Penalties - Chongqing Bank was fined 2.2 million yuan for failing to conduct due diligence in loan issuance and for imprudent investment decisions, marking another penalty in a series of regulatory actions this year [1][2]. - Since 2021, the bank has accumulated over 10 million yuan in fines for various violations, including loan management and anti-money laundering issues [1][7]. Management Changes - The bank has undergone a substantial leadership overhaul in 2023, with nearly all senior executives replaced, raising questions about the new management's ability to navigate compliance challenges and improve performance [1][9]. - The new management team is notably younger, with many members coming from Chongqing Rural Commercial Bank, indicating a strategy to leverage external expertise for internal reform [10]. Financial Performance - In 2024, Chongqing Bank reported a slight increase in revenue and net profit, with total operating income reaching 13.679 billion yuan (up 3.54%) and net profit at 5.117 billion yuan (up 3.8%) [4]. - Despite the growth in revenue, the bank's net interest income has declined for three consecutive years, with a reported 10.176 billion yuan in 2024, down 2.59% year-on-year [4]. Asset Quality - The bank's overall non-performing loan (NPL) ratio improved to 1.25%, but this was largely due to significant write-offs of bad loans, which totaled 3.049 billion yuan in 2024 [5][6]. - Retail loan NPL rates have reached alarming levels, with personal mortgage loans and credit card delinquencies showing significant increases [6]. Market Position and Challenges - Chongqing Bank's net interest margin has narrowed to 1.35%, placing it among the lowest in the A-share market, reflecting challenges in asset-liability management [4]. - The bank's reliance on non-interest income, which saw a substantial increase in fees and commissions, raises concerns about the sustainability of its revenue model in a volatile market environment [4].

Investment Rating - The report maintains a "Positive" investment rating for the banking sector as of October 23, 2025 [6]. Core Insights - The external environment's uncertainty has increased, leading to a temporary decline in market risk appetite. However, the report is optimistic about the relative performance of the banking sector in Q4 2025 [3]. - The report identifies two main investment themes: the ongoing demand for financial investments and the motivation behind realizing unrealized gains in bank assets [4][9]. Summary by Sections 1. Investment Assets Driving Bank Expansion - Financial investment growth has accelerated to 15%, with significant performance differentiation across sectors. In H1 2025, financial investments were the core driver of asset expansion, with a year-on-year growth of 14.9% [14]. - The structure of financial investments shows that interest-bearing bonds continue to dominate, with their proportion increasing to 60.2% by mid-2025. The growth rates for state-owned banks and city commercial banks were 8% and 11%, respectively [16]. 2. Changes in How Banks Smooth Earnings Volatility - Banks are increasingly shifting from using the income statement to the balance sheet to smooth earnings volatility. The report highlights that the contribution of investment income, particularly from the amortized cost (AC) assets, has been rising significantly [9][10]. - The unrealized gains in the Other Comprehensive Income (OCI) account were estimated at CNY 438.4 billion, representing 7.8% of annual revenue as of H1 2025 [9]. 3. Motivation for Realizing Unrealized Gains - Smaller banks exhibit a stronger motivation to realize unrealized gains compared to larger banks, which need to balance performance and interest rate risk management (IRRBB) assessments [9]. - The report anticipates continued demand for realizing unrealized gains in Q3 2025, although the intensity may weaken compared to mid-year [9][10]. 4. Investment Recommendations - The report recommends focusing on fundamentally strong small and medium-sized banks, such as Chongqing Rural Commercial Bank (601077, Buy) and Nanjing Bank (601009, Buy) [9]. - For state-owned banks with solid fundamentals and defensive value, the report mentions Industrial and Commercial Bank of China (601398, Not Rated) and Agricultural Bank of China (601288, Not Rated) as potential investment targets [9].

| র্ব | 重庆银行股份有限 | | 贷款"三查"不 | 罚款共计 | | | --- | --- | --- | --- | --- | --- | | | 公司 | 渝金管罚 | 尽职、投资业 | 220万元 | | | | | 决字 | 务不审慎 | | 重庆金融 | | 5 | 刘晓娜 | [2025] 23 号 | 贷款"三查"不 | 警告 | 监管局 | | | | | 尽职部分问题 | | | 记者留意到，此次罚单并非重庆银行首次因信贷管理问题"栽跟头"。2024年11月30日，国家金融监督管 理总局涪陵监管分局行政处罚信息公开表显示，重庆银行涪陵支行和康茂兴（时任重庆银行股份有限公 司涪陵支行行长）存在以下违法违规事实：贷款"三查"不尽职。根据《中华人民共和国银行业监督管理 法》第二十一条、第四十六条、第四十八条的规定，国家金融监督管理总局涪陵监管分局对重庆银行股 份有限公司涪陵支行处以罚款40万元、对康茂兴处以警告。 所谓贷款"三查"，是银行信贷业务的核心风控防线，涵盖贷前对借款人资质的真实性调查、贷中对借款 用途的合规性审查、贷后对资金流向的持续性检查。有业内人士指出，此类违规行为往往 ...

Core Viewpoint - Chongqing Bank's stock has shown a slight decline of 0.58% on October 23, with a trading volume of 154 million yuan and a total market capitalization of 35.823 billion yuan [1] Dividend Analysis - The bank's dividend yields over the past three years were 5.83%, 5.86%, and 4.46% respectively [2] - Since its A-share listing, Chongqing Bank has distributed a total of 6.88 billion yuan in dividends, with 4.229 billion yuan distributed in the last three years [7] Business Initiatives - Chongqing Bank has launched various financial products to support rural revitalization, including "Rural Revitalization Loans" and "Live Pig Collateral Loans" [2] - The bank aims to enhance credit support for new agricultural entities and strengthen partnerships with local government financing guarantee companies [2] Company Overview - Chongqing Bank, established on September 2, 1996, is headquartered in Hong Kong and primarily provides corporate and personal banking services [6] - The bank's revenue composition includes 75.09% from corporate banking, 16.94% from personal banking, and 7.72% from funding operations [6] - As of June 30, the number of shareholders was 34,200, a decrease of 7.52% from the previous period [6] Stock Performance - The average trading cost of the stock is 9.62 yuan, with the current price approaching a resistance level of 10.48 yuan [5] - The stock has seen a net outflow of 5.873 million yuan from main funds today, indicating a trend of reduced holdings over the past three days [3][4]