来源：上海证券报·中国证券网 上证报中国证券网讯 11月4日，银行股表现活跃，截至9时53分，上海银行涨超2%，中信银行、重庆银 行、农业银行、招商银行、齐鲁银行等涨超1%。 ...

厦门银行涨超5%，中信银行、上海银行、重庆银行、兴业银行、招商银行、邮储银行、工商银行、农 业银行涨超2%。 ...

人民财讯11月4日电，银行板块持续走强，厦门银行涨超5%，中信银行、重庆银行、上海银行、兴业银 行、招商银行、邮储银行、农业银行、工商银行、江阴银行均涨超2%。 责任编辑：曹睿潼 ...

11月4日早盘，银行股延续涨势，截至发稿， 上海银行、 中信银行、兴业银行、 招商银行、厦门银 行、 邮储银行 涨超2%，重庆银行、农业银行、齐鲁银行、南京银行等多股涨超1%。 | 代码 | 名称 | 涨幅量 | 现价 | | --- | --- | --- | --- | | 601998 | 中信银行 | +2.29% | 8.04 | | 601166 | 兴业银行 | +2.24% | 21.02 | | 601229 | 上海银行 | +2.27% | 9.90 | | 600036 | 招商银行 | +2.23% | 42.72 | | 601187 | 厦门银行 | +2.11% | 7.25 | | 601658 | 邮储银行 | +2.08% | 5.90 | | 601288 | 农业银行 | +1.87% | 8.16 | | 601398 | 工商银行 | +1.65% | 8.03 | | 601665 | 齐鲁银行 | +1.64% | 6.19 | | 601939 | 建设银行 | +1.61% | 9.49 | | 601825 | 沪农商行 | +1.51% | 8.74 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：603976 证券简称：正川股份 公告编号：2025-072 债券代码：113624 债券简称：正川转债 重庆正川医药包装材料股份有限公司 关于使用闲置自有资金进行现金管理的进展公告 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个别及连带责任。 重要内容提示： ● 履行的审议程序：重庆正川医药包装材料股份有限公司（以下简称"公司"）于2025年6月4日召开了第 四届董事会第二十二次会议、第四届监事会第十五次会议，审议通过了《关于使用闲置自有资金进行现 金管理的议案》，同意公司使用单日最高余额不超过人民币30,000万元的闲置自有资金进行现金管理， 以上资金额度在董事会审议通过之日起12个月内可以循环滚动使用。具体内容详见公司于2025年6月5日 在上海证券交易所网站（www.sse.com.cn）及指定信息披露媒体上披露的《关于使用闲置自有资金进行 现金管理的公告》（公告编号：2025-031）。 一、本次现金管理概况 （一）目的 在不影响公司日常经营活动所需资金并确保资金安 ...

FF301 本月底法定/註冊股本總額： RMB 3,474,586,317 1. 股份分類 普通股 股份類別 H 於香港聯交所上市 (註1) 是 證券代號 (如上市) 01963 說明 H股 增加 / 減少 (-) RMB 本月底結存 1,579,020,812 RMB 1 RMB 1,579,020,812 | I. 法定/註冊股本變動 | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 (註1) | 是 | | | | 證券代號 (如上市) | 01963 | 說明 | H股 | | | | | | | | | 法定/註冊股份數目 | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 1,579,020,812 RMB | | 1 | RMB | | 1,579,020,812 | | 增加 / 減少 (-) | | | | | RMB | | | | 股份發行人及根據《上市規則》第十九B章上市的香港預託證券 ...

FF301 本月底法定/註冊股本總額： RMB 3,474,586,317 1. 股份分類 普通股 股份類別 H 於香港聯交所上市 (註1) 是 證券代號 (如上市) 01963 說明 H股 增加 / 減少 (-) RMB 本月底結存 1,579,020,812 RMB 1 RMB 1,579,020,812 | I. 法定/註冊股本變動 | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 (註1) | 是 | | | | 證券代號 (如上市) | 01963 | 說明 | H股 | | | | | | | | | 法定/註冊股份數目 | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 1,579,020,812 RMB | | 1 | RMB | | 1,579,020,812 | | 增加 / 減少 (-) | | | | | RMB | | | | 股份發行人及根據《上市規則》第十九B章上市的香港預託證券 ...

Core Insights - The recent disclosure evaluation results for listed banks in China for the 2024-2025 period show that all listed banks received ratings of B or above, with 22 banks rated A, indicating a strong performance in information disclosure [1] Summary by Category Overall Ratings - All listed banks achieved a rating of B or higher, with 22 banks rated A, reflecting consistent performance compared to the previous year [1] - Only six banks experienced rating changes, with five banks improving their ratings and one bank, Shanghai Bank, experiencing a downgrade [1] Banks with Rating Changes - The following banks improved their ratings: - Zhangjiagang Bank - Hangzhou Bank - Huaxia Bank - Everbright Bank - Zhejiang Commercial Bank [1] - Shanghai Bank was the only bank to see a downgrade in its rating [1] Detailed Ratings - A selection of banks and their ratings includes: - Ping An Bank: A - Ningbo Bank: A - Agricultural Bank of China: A - Industrial and Commercial Bank of China: A - Shanghai Bank: B (downgraded) [2]

Investment Rating - The report indicates a cautious outlook on the credit growth rate, suggesting a shift towards quality improvement, with expectations for a recovery in corporate loan increments by 2026 [5][9]. Core Insights - Credit growth is expected to slow significantly starting in 2024, but the decline in growth rate is anticipated to moderate by 2026, with corporate loans likely to see a year-on-year increase [7][9]. - The relationship between credit growth and economic growth is weakening, emphasizing the need to optimize credit structure and reduce idle financial resources [9]. - The report highlights that the banking sector's total asset growth will outpace loan growth in 2025, driven by government bond supply and fiscal policies [9]. Summary by Sections Credit Growth Forecast - New RMB loans are projected at 21.3 trillion, 23.6 trillion, and 18.9 trillion yuan for 2022, 2023, and 2024 respectively, with a further estimate of 14.7 trillion yuan for the first three quarters of 2025 [9]. - For 2026, new loans are expected to be between 17.2 trillion and 17.7 trillion yuan, corresponding to a growth rate of 6.3% to 6.5% [9]. Loan Composition - In 2023, the total RMB loans are expected to reach 237.59 trillion yuan, with a year-on-year growth rate of 10.6% [8]. - Retail loans are projected to grow from 80.10 trillion yuan in 2023 to 82.84 trillion yuan in 2024, reflecting a growth rate decline from 5.7% to 3.4% [8]. - Corporate loans are anticipated to increase from 157.07 trillion yuan in 2023 to 171.01 trillion yuan in 2024, with a growth rate of 12.7% [8]. Regional Performance - Regions such as Jiangsu, Zhejiang, Sichuan, and Shandong are expected to continue outperforming the national average in loan growth due to strong economic performance and support from new policy financial tools [12]. Banking Sector Dynamics - The report notes that state-owned banks are expected to maintain a competitive edge due to lower funding costs and capital injections from the Ministry of Finance [12]. - The net interest margin is in a downward trend, but the rate of decline is expected to slow starting in 2025, with some smaller banks potentially stabilizing their margins by 2026 [13][17]. Asset Quality - As of Q2 2025, the non-performing loan (NPL) ratio for listed banks is reported at 1.25%, indicating a stable asset quality despite pressures on retail credit [37]. - The report emphasizes that while retail loan NPLs have increased since 2021, corporate loan clearances have improved significantly, providing a buffer against retail risks [37].

丨证券研究报告丨 金融工程丨点评报告 [Table_Title] 基金三季报：转债持仓占比进一步提升 报告要点 [Table_Summary] 截至 2025 年三季度末，公募基金持有转债规模高达 3038 亿元，持仓市值占比进一步提升至 38.94%。相比于全市场转债，新能源、银行和基础化工的超配比例较高，而非银、电力和建筑 相对较为低配。全市场基金偏好 BS 定价溢价率低、转换价值高、余额大、转股溢价率低的转 债。今年以来，到期时间、隐含波动率、隐含波动率溢价率_1 年、纯债价值、波峰等因子表现 相对较为突出，信息比均在 1.7 以上。 分析师及联系人 [Table_Author] 刘胜利 SAC：S0490517070006 SFC：BWH883 请阅读最后评级说明和重要声明 %% %% %% %% research.95579.com 1 [Table_Title2] 基金三季报：转债持仓占比进一步提升 [Table_Summary2] 事件描述 公募基金 2025 年三季报已全部披露，据此可获取转债持仓。 公募转债持仓的规模如何，行业和风格偏好怎样？本报告将从统计维度分析这些问题。 事件评论 风险提 ...