Core Viewpoint - The China Securities Index for Hong Kong-listed tradable mainland banks has shown a mixed performance, with a recent decline over the past month but an overall increase year-to-date [1]. Group 1: Index Performance - The HKT Mainland Bank Index is reported at 1183.60 points, having decreased by 4.99% over the past month, increased by 4.64% over the past three months, and risen by 17.74% year-to-date [1]. - The index is part of a series that includes HKT Hong Kong Real Estate, HKT Mainland Consumption, and HKT Mainland Banks, reflecting the overall performance of related securities in the Hong Kong market [1]. Group 2: Index Composition - The top ten holdings in the HKT Mainland Bank Index are as follows: China Construction Bank (31.15%), Industrial and Commercial Bank of China (24.07%), Bank of China (17.23%), China Merchants Bank (10.32%), Agricultural Bank of China (7.87%), CITIC Bank (3.5%), Postal Savings Bank of China (2.56%), Minsheng Bank (1.4%), Chongqing Rural Commercial Bank (0.71%), and China Everbright Bank (0.64%) [1]. - The index is exclusively composed of financial sector stocks, with a 100% representation from this industry [3]. Group 3: Index Adjustment Mechanism - The index samples are adjusted semi-annually, with adjustments occurring on the next trading day following the second Friday of June and December each year [3]. - Weight factors are generally fixed until the next scheduled adjustment, with special circumstances allowing for temporary adjustments [3].

Strategic Decision - Xiaomi plans to officially enter the European market with its electric vehicles in 2027, aiming to enhance its high-end image leveraging Europe's luxury automotive recognition [1][3] - The gross margin for Xiaomi's automotive business reached 26.4% in Q2, providing confidence for this strategic move [1] Challenges - Xiaomi faces significant challenges in Europe, including a weaker "Mi Fan" base compared to its domestic market, and its smartphone business is primarily perceived as mid-to-low end, making it difficult to convert to a high-end automotive customer base [2] - The brand's ability to resonate with European consumers, who prioritize brand heritage and cultural recognition, will be tested, as established brands like Porsche and Mercedes have deep-rooted consumer trust [2] Operational Measures - Ideal Auto has commenced nationwide delivery of its first pure electric six-seat SUV, the Ideal i8, across 44 cities, with a target to deliver over 8,000 units by the end of September [5] - The aggressive delivery target reflects the competitive landscape in the second half of the year, and the success of the Ideal i8 will depend on its acceptance in the pure electric vehicle market [5] Industry Expansion - Meituan's international delivery brand Keeta has launched in Doha, Qatar, marking its second entry into the Middle East after Saudi Arabia, with plans to expand further in the region and into Brazil [6] - This move is part of Meituan's strategy to replicate its domestic delivery capabilities in emerging markets with low delivery penetration [6] Technological Innovation - GAC Group has introduced a new range extender technology called "Star Source Range Extender," achieving an industry-leading fuel-to-electric conversion rate of 3.73 kWh/L [8] - This technology addresses key consumer pain points such as high fuel consumption when depleted, weak power, and engine noise, positioning GAC favorably in the hybrid market [8] Important Collaborations - BYD Battery and JD Auto have signed a strategic cooperation agreement, launching the first official online store for BYD batteries on JD's platform [9] - This partnership aims to enhance battery safety, addressing consumer concerns in the rapidly growing two-wheeler and three-wheeler battery market [9] Financial Technology Collaboration - Bank of China has signed a strategic cooperation agreement with Huawei Technologies to collaborate in areas such as ICT infrastructure, cloud computing, and artificial intelligence [11] - This partnership aims to strengthen Bank of China's digital financial foundation, aligning with the trend of digital transformation in financial institutions [11]

中国银行（601988）(03988)发布公告，将于2025年8月29日派发第四期境内优先股(上海证券交易所优先 股代码：360035;优先股简称：中行优4)每股优先股现金股息人民币3.27元(税前)。 ...

智通财经APP讯，中国银行(03988)发布公告，将于2025年8月29日派发第四期境内优先股(上海证券交易 所优先股代码：360035;优先股简称：中行优4)每股优先股现金股息人民币3.27元(税前)。 ...

证券代码：601988 证券简称：中国银行 公告编号：临 2025-063 中国银行股份有限公司 第四期境内优先股股息派发实施公告 中国银行股份有限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： 一、通过第四期境内优先股股息派发方案的董事会会议情况 中国银行股份有限公司（简称"本行"）2019 年第一次临时股东 大会审议通过了《中国银行股份有限公司境内非公开发行优先股方 案》，授权董事会依照发行合同的约定，宣派和支付全部本次境内优 先股股息。本次第四期境内优先股（优先股代码：360035；优先股简 称：中行优 4）股息派发方案已经本行 2025 年 4 月 29 日召开的董事 会会议审议通过，董事会决议公告已刊登在上海证券交易所网站 1 优先股代码：360035 优先股简称：中行优 4 每股优先股派发现金股息人民币 3.27 元（税前） 最后交易日：2025 年 8 月 27 日 股权登记日：2025 年 8 月 28 日 除息日：2025 年 8 月 28 日 股息发放日：2025 年 8 月 29 日 4. ...

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分內容而產生或因倚 賴該等內容而引致之任何損失承擔任何責任。 中國銀行股份有限公司 BANK OF CHINA LIMITED （於中華人民共和國註冊成立的股份有限公司） （「本行」） （股份代號：3988） 第四期境內優先股股息派發實施公告 一、通過第四期境內優先股股息派發方案的董事會會議情況 本行2019年第一次臨時股東大會審議通過了《中國銀行股份有限公司境內非 公開發行優先股方案》，授權董事會依照發行合同的約定，宣派和支付全部本 次境內優先股股息。本次第四期境內優先股（上海證券交易所優先股代碼： 360035；優先股簡稱：中行優4）股息派發方案已經本行2025年4月29日召開 的董事會會議審議通過，董事會決議公告已刊登在香港交易及結算所有限公司 網站( www.hkexnews.hk )及本行網站( www.boc.cn )。 本行第四期境內優先股股東的現金股息由本行直接向優先股股東發放。 四、諮詢方式 聯繫部門：本行董事會辦公室 電話：(8610)6659 ...

Core Viewpoint - The company, Chaoyu Eye Care (02219), announced that its indirect wholly-owned subsidiary, Chaoyu Medical Technology, will further subscribe to a financial product from the Bank of China with a total principal amount of RMB 30 million, funded by the group's surplus cash rather than proceeds from a global offering [1] Group 1 - The subscription amount for the financial product is RMB 30 million [1] - The funding for this subscription comes from the company's surplus cash [1] - The subscription is scheduled for August 22, 2025 [1]

认购事项由集团盈余现金而非全球发售所得款项拨资。 朝聚眼科(02219)发布公告，于2025年8月22日，朝聚医疗科技(公司的间接全资附属公司)进一步认购本 金总额为人民币3000万元的中国银行理财产品。 ...

Core Insights - The Chinese mobile banking app market has entered a phase of stock competition in the first half of 2025, with monthly active users (MAU) fluctuating between 650 million and 700 million, showing low growth rates between -1.2% and 4.6% [1] - User engagement is declining significantly, with daily effective usage time dropping from 4.93 minutes to 2.70 minutes and daily usage frequency decreasing from 4.54 times to 2.86 times from 2023 to 2025 [1] - Private banks, particularly WeBank and MYbank, are facing severe challenges, with MYbank's MAU plummeting by 64.7%, failing to make it into the top 50 rankings [1] Group 1: Performance of Major Banks - The six major state-owned banks maintain a dominant position in the mobile banking landscape, with Agricultural Bank of China leading with 238 million MAU, a year-on-year increase of 4.8% [2][3] - Industrial and Commercial Bank of China and China Construction Bank follow with 189 million and 106 million MAU, respectively, forming the top tier of the industry [3] - China Bank and Postal Savings Bank also saw slight increases in MAU, while Bank of Communications experienced a decline of 5.0% [3] Group 2: Challenges Faced by Joint-Stock Banks - Joint-stock commercial banks are generally experiencing a decline in user activity, with China Merchants Bank leading among them but still seeing a 1.2% decrease in MAU [4] - Other banks like Ping An Pocket Bank, CITIC Bank, and Minsheng Bank also reported declines ranging from 2.9% to 11.5%, with Guangfa Bank suffering the largest drop at 31.0% [4] - The challenges stem from increased competition from state-owned banks and local rural commercial banks, as well as a lack of differentiation in financial products [4] Group 3: Performance of City Commercial Banks - City commercial banks show a mixed performance, with 17 entering the top 50 MAU rankings, indicating strong regional influence [6] - Jiangsu Bank leads city banks with 349.6 million MAU, while Qilu Bank saw a significant increase of 27.3% [6] - However, some banks like Ningbo Bank and Hangzhou Bank experienced declines exceeding 16% [6] Group 4: Decline of Private Banks - Private banks like WeBank and MYbank are facing drastic declines, with WeBank's MAU at 141.3 million, down 27.3%, and MYbank dropping out of the top 50 [7] - The decline is attributed to traditional banks enhancing their digital capabilities, regulatory changes, and significant gaps in service offerings compared to traditional banks [7] Group 5: Future Outlook - The competition in the mobile banking sector is shifting from scale expansion to value cultivation, emphasizing the importance of integrating financial services into high-frequency scenarios like education and public services [9][10] - State-owned banks are successfully leveraging their resources to create an ecosystem that enhances user engagement, while joint-stock banks need to focus on specific customer segments to avoid internal competition [9] - The future of mobile banking will likely revolve around comprehensive financial ecosystems and customer insights rather than just app functionalities [10]

该行预期今轮股市升势将进一步延续，因目前市场杠杆水平温和且估值不高，估计潜在资金轮动或为股 市注入额外14万亿元人民币流动性，相当于可流通市值约16%。在券商股中首选中金公司(03908)、东方 财富（300059）(300059.SZ)及华泰证券（601688）(06886)，预期中金将最能受惠于中国内地及香港IPO 市场复苏与市况向好所带来的股权投资收益增长。小摩预期高息股将于第四季重拾动力，内银首选招商 银行（600036）(600036.SH)，同时亦推荐工商银行（601398）(01398)、中国银行（601988）(03988)及 交通银行（601328）(601328.SH)，均予"增持"评级。 摩根大通发布研报称，对中资银行及券商股持正面看法，建议投资者对中资金融股采用铃策略(Barbell Strategy)，即同时投资于高风险及低风险资产，预期市场资产轮动及过剩流动性增加，将成为股市上升 的关键驱动力。 ...