Core Insights - The ABS market in China saw a total of 1,777 new issuance projects in the first three quarters of 2025, with an issuance scale of 16,336 billion yuan, representing a 17% increase from 14,007 billion yuan in the previous year [6][2]. Market Overview - As of the end of the first three quarters of 2025, the cumulative market size reached approximately 33,810 billion yuan, with credit ABS at 4,017 billion yuan, enterprise ABS at 21,405 billion yuan, ABN at 6,348 billion yuan, and public REITs at 2,040 billion yuan [4]. Credit ABS - In the credit ABS segment, 172 new projects were issued, totaling 1,866 billion yuan, a 2% decrease year-on-year. The largest issuance came from non-performing loans, with 134 projects totaling 634 billion yuan, followed by personal auto loans with 17 projects totaling 536 billion yuan [8][6]. Enterprise ABS - The enterprise ABS market saw 1,127 new projects issued, totaling 9,951 billion yuan, which is a 22% increase compared to the previous year. The largest issuance was in financing lease receivables, with 214 projects totaling 2,163 billion yuan, followed by corporate receivables with 160 projects totaling 1,497 billion yuan [10][6]. ABN - The ABN market had 460 new projects issued, totaling 4,157 billion yuan, marking an 18% increase year-on-year. The largest issuances were in bank/internet consumer loans, with 159 projects totaling 1,415 billion yuan, followed by general small loan receivables with 114 projects totaling 1,038 billion yuan [11][6]. Underwriting Rankings - In the underwriting rankings for the first three quarters of 2025, CITIC Securities led with 390 projects and a total underwriting amount of 1,851 billion yuan, followed by Guotai Junan with 328 projects totaling 1,449.9 billion yuan, and Ping An Securities with 208 projects totaling 1,231.2 billion yuan [15][14]. Detailed Underwriting Performance - In the credit ABS market, China Merchants Securities ranked first with 86 projects totaling 314.4 billion yuan, followed by CITIC Securities with 81 projects totaling 295.2 billion yuan [21][23]. - In the enterprise ABS market, CITIC Securities topped the rankings with 222 projects totaling 1,239.8 billion yuan, followed by Ping An Securities with 182 projects totaling 1,177.4 billion yuan [25][26]. ABN Market Rankings - In the ABN market, China Merchants Securities led with 80 projects totaling 413 billion yuan, followed by Bank of China with 90 projects totaling 356.1 billion yuan [29][30]. Asset Class Rankings - The top three asset classes by issuance scale are bank/internet consumer loans, financing leases, and general small loans, with detailed underwriting statistics available for these categories [33].

Group 1 - The company announced a cash dividend distribution of RMB 2.36 per 10 shares, totaling RMB 4.58 billion, based on a total share capital of 19,405,918,198 shares as of June 30, 2025 [2] - The record date for the dividend distribution is set for October 14, 2025, and the ex-dividend date is October 15, 2025 [2] - The company will not issue bonus shares or convert reserves into share capital during this distribution [2]

（文章来源：证券日报） 证券日报网讯平安银行9月30日在互动平台回答投资者提问时表示，截至2025年6月末，本行普通股股东 总户数为443，583户。 ...

Core Viewpoint - Ping An Bank is actively enhancing its risk management policies and asset quality, demonstrating a stable overall performance in its financial health [2] Group 1: Risk Management - The bank is strengthening its forward-looking risk policy assessments and agile adjustments to manage risks effectively [2] - There is a focus on early warning and resolution of risks associated with existing assets [2] Group 2: Asset Quality - As of June 30, 2025, the non-performing loan (NPL) ratio is 1.05%, a decrease of 0.01 percentage points from the end of the previous year [2] - The NPL generation rate for the first half of the year is 1.64%, down by 0.05 percentage points year-on-year [2] - The provision coverage ratio stands at 238.48%, indicating strong risk compensation capabilities [2] Group 3: Retail Loan Structure - The bank is continuously optimizing the structure of its retail loan assets, leading to a corresponding reduction in impairment provisions [2]

证券日报网讯平安银行（000001）9月30日在互动平台回答投资者提问时表示，2025年上半年，本行净 息差1.80%，较去年同期下降16个基点，主要受市场利率下行、贷款业务结构调整等因素影响。在资产 重新定价及支持实体经济的背景下，预计净息差仍有下行压力，但下行幅度有望趋缓。后续本行将继续 加强资产负债组合管理，精细化定价管理，做好前瞻引导，缓解息差下行。资产端，持续做好大类资产 配置，鼓励优质信贷投放；同时，加强市场研判，灵活动态配置同业资产，提升资金运用效率。负债 端，聚焦引导吸收低成本存款，管控高成本存款，全力控制和降低整体负债成本。 ...

证券日报网讯平安银行（000001）9月30日在互动平台回答投资者提问时表示，本行未披露个人零售贷 款及公司贷款单笔平均额度。截至2025年6月末，本行零售客户数12，668.01万户，较上年末增长 0.9%，个人贷款余额17，259.78亿元；对公客户数90.91万户，较上年末增长6.5%，企业贷款余额16， 825.20亿元，较上年末增长4.7%。 ...

北京商报讯（记者 宋亦桐）9月30日，国家金融监督管理总局及国家金融监督管理总局北京监管局公布 了多则行政处罚信息，五家银行合计被罚4642.67万元。 具体来看，国家金融监督管理总局发布的行政处罚信息公示列表显示，邮储银行、中信百信银行合计被 罚3911.67万元。 邮储银行存在相关贷款业务、互联网贷款业务、绩效考核、合作业务等管理不审慎主要违法违规行为， 被罚没合计2791.67万元；相关责任人员黄文贤被警告并罚款5万元。 中信百信银行存在相关互联网贷款等业务管理不审慎、监管数据报送不合规等主要违法违规行为，该行 被罚款合计1120万元；相关责任人员于晓红被取消高级管理人员任职资格5年，朱祎敏被警告。 同日，国家金融监督管理总局北京监管局发布多则行政处罚信息，北京银行、平安银行北京分行、工商 银行北京牡丹园支行在列，相关银行合计被罚731万元。 北京银行因存在"贷款风险分类不准确，金融投资业务减值准备计提不充足，违规办理票据业务，贷款 数据不准确，消费者权益保护工作不规范，法人商用房按揭贷款贷前调查不到位，违规为土地储备项目 融资"主要违法违规行为，被罚款合计530万元；相关责任人徐凯、王瑾分别被警告并处 ...

平安银行推出全生命周期金融支持体系，助力科创企业发展 【文/羽扇观金工作室 王力】 论坛上，平安银行上海分行公司业务管理部负责人王春旭在论坛主题发言中，阐述了该行在服务科创企 业方面的策略框架。据其介绍，平安银行已建立覆盖企业全生命周期的金融方案，包括初创期信用贷 款、成长期供应链金融、成熟期跨境并购支持等产品组合。 9月23日，以"AI赋能低空经济 共探智能融合新未来"为主题的产业论坛在浦东张江成功举行。此次活动 由上海市人工智能行业协会指导，并由平安银行上海分行等协办，吸引了70余家企业和行业专家共同探 讨低空经济与人工智能的融合发展。 针对低空经济的产业特征，王春旭提出金融机构需调整服务思路。他将其概括为"三大心态":一是以"细 致务实"的态度介入基础服务，对接企业从研发到商业化各阶段的融资需求;二是以"长期主义"视角参与 产业生态建设，适配行业的长周期、高投入特性;三是以"开放创新"姿态应对技术变革，拓展金融服务 边界。 平安银行在论坛上展示了其为科创企业量身打造的金融服务体系，该体系覆盖了从初创期的信用贷款到 成熟期的跨境并购等多元产品。 这一表述反映出商业银行在面对新兴产业时的考量。低空经济作为技 ...

Core Viewpoint - The implementation of the new regulatory policy, referred to as the "Assisted Loan New Regulations," will significantly reshape the landscape of the assisted loan industry by establishing clear compliance boundaries for commercial banks' internet-assisted loan businesses [1][3]. Group 1: Regulatory Changes - The new regulation, effective from October 1, 2025, mandates commercial banks to adopt a "list management" system for assisted loan cooperation institutions, which has led to a lack of transparency regarding the cooperation lists of major banks [4][5]. - The regulation imposes strict controls on "comprehensive financing costs," particularly targeting products with annualized comprehensive costs exceeding 24%, which poses a challenge to existing business models in the assisted loan sector [1][9]. Group 2: Market Dynamics - The disclosed cooperation lists indicate a trend where major internet giants are preferred partners for banks, leading to a concentration of funds and resources in the hands of a few leading institutions [5][6]. - Various banks have begun to reveal their cooperation lists, with significant participation from both state-owned and private banks, although the six major state-owned banks have yet to disclose their lists [4][6]. Group 3: Business Models and Strategies - Banks like Ping An Bank have developed platforms such as the "Smart Loan Platform" to enhance compliance and safety while expanding their internet credit ecosystem, reflecting a shift towards more regulated and secure lending practices [7]. - Some banks are reconsidering their involvement in assisted loan businesses due to high default rates and rising customer acquisition costs, which are compressing profit margins [7]. Group 4: Financial Implications - The new regulations are expected to create a significant stratification in funding sources, with high-interest assets losing bank support while assets with annualized rates below 24% become highly competitive [9][10]. - Trust funds have seen a temporary increase in demand as an alternative funding source, but their higher costs and regulatory constraints limit their sustainability [10]. Group 5: Regulatory Focus Post-Implementation - Post-implementation, regulatory scrutiny will focus on pricing transparency and comprehensive cost control, particularly regarding the inclusion of service fees in the overall financing costs [11]. - The regulatory authorities will also evaluate banks' risk management capabilities and their adherence to core responsibilities in the assisted loan sector [11].

Core Insights - The banking sector experienced a decline of 0.92% on September 30, with CITIC Bank leading the drop [1] - The Shanghai Composite Index closed at 3882.78, up 0.52%, while the Shenzhen Component Index closed at 13526.51, up 0.35% [1] Banking Sector Performance - Ping An Bank closed at 11.34, down 0.26% with a trading volume of 832,500 shares and a transaction value of 942 million [1] - China Merchants Bank closed at 40.41, down 0.66% with a trading volume of 700,000 shares and a transaction value of 2.837 billion [1] - Zhejiang Commercial Bank closed at 2.98, down 0.67% with a trading volume of 1.695 million shares and a transaction value of 506 million [1] - Minsheng Bank closed at 3.98, down 0.75% with a trading volume of 4.847 million shares and a transaction value of 1.926 billion [1] - Industrial Bank closed at 19.85, down 1.00% with a trading volume of 1.422 million shares and a transaction value of 2.832 billion [1] - Everbright Bank closed at 3.36, down 1.18% with a trading volume of 3.044 million shares and a transaction value of 1.026 billion [1] - Shanghai Pudong Development Bank closed at 11.90, down 1.33% with a trading volume of 903,800 shares and a transaction value of 1.077 billion [1] - Huaxia Bank closed at 6.58, down 1.35% with a trading volume of 1.237 million shares and a transaction value of 816 million [1] - CITIC Bank closed at 7.20, down 1.37% with a trading volume of 731,300 shares and a transaction value of 529 million [1] Capital Flow Analysis - The banking sector saw a net outflow of 2.207 billion from institutional investors, while retail investors had a net inflow of 1.312 billion [1] - The table shows detailed capital flows for individual banks, indicating varying levels of net inflow and outflow among institutional, speculative, and retail investors [2]