Group 1 - The Chinese wealth management market is experiencing a historic opportunity, with total asset management scale exceeding 170 trillion yuan, making it the second-largest wealth management market globally as of June 2025 [1][2] - The growth in the wealth management sector is driven by the expansion of the middle-income group and the accumulation of household wealth, with total investable assets surpassing 300 trillion yuan [1][2] - The second "CITIC Wealth Management Conference" was held in Beijing, focusing on how wealth management institutions can capture global market opportunities and serve as a bridge between the real economy and household wealth [1] Group 2 - The wealth management industry is benefiting from the deepening transformation of the asset management sector, the acceleration of long-term patient capital cultivation, and the opening up of cross-border capital markets [2] - CITIC Group has established a differentiated wealth management path, leveraging its comprehensive financial license advantages and multi-field collaboration to create unique strengths in the wealth management sector [2] - CITIC's subsidiaries, including CITIC Bank and CITIC Securities, hold significant asset management scales, with CITIC Bank's personal wealth management scale nearing 5 trillion yuan and CITIC Securities' asset management scale reaching 1.56 trillion yuan [3] Group 3 - Cross-border investment has shifted from an optional choice to a necessity for wealth management, with over 164,600 individual investors participating in the "Cross-Border Wealth Management Connect" program, and cross-border remittance amounts exceeding 120 billion yuan [4] - Market institutions are actively building service systems to meet the growing demand for cross-border investment, with CITIC focusing on "connectivity" to link domestic and international markets [4] - The release of global asset allocation demand and the transformation of the industry are driven by inter-institutional collaboration, technological empowerment, and the expansion of cross-border business [4] Group 4 - The wealth management service transformation is centered around comprehensive product lines, collaborative customer service, and integrated infrastructure, as highlighted by industry leaders [5] - The ecosystem of complementary cooperation among different asset management institutions is evolving, driven by the deepening opening of the Chinese capital market and the enhancement of household asset allocation concepts [5] - Cross-institutional collaboration, technological integration, and cross-border layout are expected to be the core drivers of sustained growth in the wealth management industry [5]

Core Viewpoint - Multiple banks in China, including CITIC Bank, are adjusting the risk ratings of their asset management products, primarily to comply with regulatory requirements and enhance investor protection [1][4]. Group 1: Risk Rating Adjustments - CITIC Bank announced an adjustment of risk ratings for 17 asset management products, with 15 products seeing an increase in their risk ratings and 2 experiencing a decrease [2]. - The adjustment covers a wide range of product types, including passive index bond funds, mixed equity funds, and flexible allocation funds, indicating a comprehensive approach to risk assessment [2]. - This marks the fourth adjustment by CITIC Bank in 2023, reflecting ongoing regulatory compliance and the need for consistent risk rating practices [2]. Group 2: Regulatory and Market Influences - The adjustments are driven by the dual factors of deepening regulatory requirements and changes in market conditions, necessitating a more accurate reflection of risk levels [4]. - The regulatory framework established by the National Financial Supervision Administration in March 2023 mandates banks to independently assess the risk of asset management products and align them with appropriate customer profiles [4]. - As market volatility increases, the underlying risk-return characteristics of certain funds have changed, prompting banks to adjust ratings accordingly [4]. Group 3: Implications for the Banking and Asset Management Industry - In the short term, banks may experience fluctuations in sales revenue from high-risk products due to these adjustments, but long-term benefits include reduced legal disputes and enhanced reputation through improved compliance [5]. - The dynamic rating system is expected to encourage asset management companies to optimize product design and risk control, shifting the industry focus from "scale expansion" to "high-quality development" [5]. - Banks are advised to enhance their due diligence capabilities to better manage risks associated with asset management product sales [5].

Group 1 - The core initiative of the event is "A Beautiful Future, Cultivating in Advance," aiming to integrate future life planning with financial practices through immersive experiences and diverse services [1][2] - The event features four thematic exhibition areas: health, work, entertainment, and love, breaking traditional financial service stereotypes and transforming retirement finance and wealth planning into tangible experiences [1][2] - The event encourages the public to plan their lives and finances early, targeting various age groups including Generation Z, middle-aged, and senior citizens, promoting the concept of "early cultivation" [1][2] Group 2 - In response to the challenges of an aging population and consumption transformation, the bank has established a "Happiness +" pension financial service system, focusing on three pillars: pension funds, pension services, and the pension industry [2] - The bank aims to enhance its financial service roadmap to support national strategies for boosting consumption and promoting internal circulation, creating a comprehensive consumption ecosystem covering food, housing, transportation, travel, shopping, entertainment, and healthcare [2] - The "Letter" series of events has evolved over three iterations, with the current "Future Letter" focusing on human-centered care and future planning, enhancing brand emotional connection and integrating financial services with public needs [2]

中信银行（601998）重磅推出"小天元"企业生态服务平台，以"数字+金融+生态"创新范式，赋能企业数 智化跃迁。 中信银行"小天元"平台结合企业日常经营痛点，将高效智能的一体化金融服务嵌入各个环节，打造"业 财资付"全链路数字化解决方案，将企业日常经营管理流程线上化、智能化、自动化，大幅提升管理质 效，让企业省钱、省时、省心、省力。 ...

中信银行重磅推出 "小天元" 企业生态服务平台，以 "数字+金融+生态" 创新范式，赋能企业 数智化跃迁。 中信银行 "小天元" 平 台 结 合 企业日常经营痛点，将高效智能 的 一 体 化 金 融 服 务 嵌 入 各 个 环 节，打造 "业财资付" 全链路数字化解决方案，将企业日常经营管理流程 线上化、智能化、 自动化 ，大幅提升管理质效，让企业 省钱、省时、省心、省力 。 ...

Investment Ratings - Banking: Overweight (Maintain) [1] - Securities: Market Weight (Maintain) [1] - Insurance: Overweight (Maintain) [1] Core Insights - The banking sector is seen as a safe haven amid rising market uncertainties, with high dividend yield assets becoming increasingly attractive [1][41] - The securities sector is benefiting from a surge in trading volumes and increased stamp duty revenues, indicating strong performance in upcoming quarterly reports [1][43] - The insurance sector is experiencing significant growth in investment income and new business value, driven by increased equity market exposure and favorable policy support [1][45] Summary by Sections Market Review - As of October 16, 2025, the banking index increased by 5.53%, the securities index decreased by 0.57%, and the insurance index rose by 6.27%, while the CSI 300 index fell by 0.48% [11] - Among the sub-sectors, Chongqing Bank (+15.90%), GF Securities (+8.98%), and New China Life Insurance (+12.21%) showed the best performance [11] Valuation Situation - As of October 16, 2025, the banking sector's price-to-book (PB) ratio is 0.73, with state-owned banks at 0.79, joint-stock banks at 0.62, city commercial banks at 0.73, and rural commercial banks at 0.65 [22] - The securities sector's PB ratio is 1.59, indicating potential for valuation recovery [24] - Insurance companies' price-to-earnings value (PEV) ratios are as follows: New China Life (0.74), China Pacific Insurance (0.59), Ping An (0.69), and China Life (0.72) [25] Recent Market Indicators - As of October 16, 2025, the one-year Medium-term Lending Facility (MLF) rate is 2.0%, and the one-year and five-year Loan Prime Rates (LPR) are 3.0% and 3.50%, respectively [29] - The average daily trading volume in the A-share market is 22,359.31 billion, showing a decrease of 13.57% [33] - The total social financing scale reached 437.08 trillion yuan, with a year-on-year growth of 8.7% [41] Company Announcements - New China Life Insurance expects a net profit of 29.986 billion to 34.122 billion yuan for the first three quarters of 2025, representing a year-on-year increase of 45% to 65% [45] - Shanghai Bank announced a cash dividend of 0.30 yuan per share, totaling 4.263 billion yuan [41]

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。 998 董事會會議召開日期 中信銀行股份有限公司（「本行」）董事會（「董事會」）謹此宣佈，董事會將於二零二五年十 月三十日（星期四）舉行董事會會議，以考慮及通過（包括其他事項）本行及其附屬公司截 至二零二五年九月三十日止九個月的季度業績。 承董事會命 中信銀行股份有限公司 方合英 董事長 中國‧北京 二零二五年十月十七日 於本公告日期，本行執行董事為方合英先生（董事長）、蘆葦先生（行長）及胡罡先生；非 執行董事為王彥康先生及付亞民先生；及獨立非執行董事為廖子彬先生、周伯文先生、 王化成先生及宋芳秀女士。 ...

证券代码：601998 证券简称：中信银行 公告编号：临2025-072 中信银行股份有限公司优先股股息派发实施公告 本行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、通过优先股股息派发方案的董事会会议情况 中信银行股份有限公司（以下简称本行）2014年度股东大会审议并通过了《关 于提请股东大会授权董事会办理本次非公开发行优先股相关事宜的议案》，授权 董事会在股东大会审议通过的框架和原则下根据发行方案的约定，决定并办理向 优先股股东支付股息事宜。本行优先股（证券简称：中信优1，证券代码：360025） 2025年度股息派发方案已经本行2025年8月27日召开的董事会会议审议通过，董 事 会 会 议 决 议 公 告 已 于 2025 年 8 月 28 日 刊 登 在 上 海 证 券 交 易 所 网 站 （www.sse.com.cn）和本行网站（www.citicbank.com）。 二、优先股股息派发方案 1、计息期间：2024年10月26日至2025年10月25日。 1 优先股代码：360025 优先股简称： ...

智通财经APP讯，中信银行(00998)公布，该行将于2025 年 10 月 27 日派发优先股(证券简称：中信优 1，证券代码：360025)自2024年10月26日至2025年10月25日期间的股息，按照中信优1票面股息率4.08% 计算，每股优先股发放现金股息人民币4.08元(含税)，以中信优1发行量3.5亿股为基数，该行本次派发 优先股现金股息共计人民币14.28亿元(含税)。 ...

中信银行（601998）(00998)公布，该行将于2025年10月27日派发优先股(证券简称：中信优1，证券代 码：360025)自2024年10月26日至2025年10月25日期间的股息，按照中信优1票面股息率4.08%计算，每 股优先股发放现金股息人民币4.08元(含税)，以中信优1发行量3.5亿股为基数，该行本次派发优先股现 金股息共计人民币14.28亿元(含税)。 ...