Investment Rating - The investment rating for Jiangyin Bank (002807) is "Buy" (maintained) [4] Core Views - The bank's revenue for the first three quarters of 2024 increased by 1.33% year-on-year, reaching 3.018 billion yuan, while net profit attributable to shareholders rose by 6.79% to 1.128 billion yuan [6] - The bank has shown resilience in net interest margin despite a decrease in interest income, with a net interest margin of 1.74% for Q1-Q3 2024 [6] - The non-performing loan ratio improved significantly to 0.90% by the end of Q3 2024, with a reduction in non-performing loans by 114 million yuan compared to the end of H1 2024 [6] Summary by Sections Financial Performance - Revenue for Q1-Q3 2024 was 3.018 billion yuan, up 1.33% year-on-year [6] - Net profit attributable to shareholders was 1.128 billion yuan, an increase of 6.79% [6] - Interest income decreased by 7.28% year-on-year, but the decline was less severe than in H1 2024 [6] Non-Interest Income - Non-interest income showed weaker performance, with growth rates for fee income and other non-interest income at 26.49% and 29.82% respectively, both declining compared to H1 2024 [6] Asset Quality - The non-performing loan ratio improved to 0.90%, with a non-performing loan balance of 1.09 billion yuan, down from H1 2024 [6] - The provision coverage ratio increased to 452.16%, indicating strong risk mitigation capabilities [6] Future Outlook - Revenue projections for 2024-2026 are 4 billion, 4.2 billion, and 4.4 billion yuan respectively, with expected growth rates of 2.49%, 5.28%, and 6.48% [6] - Net profit forecasts for the same period are 2 billion, 2.2 billion, and 2.4 billion yuan, with growth rates of 8.47%, 9.30%, and 9.22% [6]

证券代码：002807 证券简称：江阴银行 公告编号：2024-045 一、关于《2024 年第三季度报告》审核意见的议案 监事会认为本行董事会编制和审核《2024 年第三季度报告》的程序符合法律、 行政法规和中国证监会的规定，报告内容真实、准确、完整地反映了本行的实际 情况，不存在任何虚假记载、误导性陈述或者重大遗漏。 本议案同意票 9 票，反对票 0 票，弃权票 0 票。 本行《2024 年第三季度报告》同日在《证券时报》《上海证券报》《中国证 券报》和巨潮资讯网（http://www.cninfo.com.cn）上披露，供投资者查阅。 二、关于《2024 年上半年度关联交易专项审计的情况报告》的议案 本议案同意票 9 票，反对票 0 票，弃权票 0 票。 三、关于《信贷资产风险分类专项审计的报告》的议案 江苏江阴农村商业银行股份有限公司 第八届监事会第七次会议决议公告 本行及监事会全体成员保证信息披露内容真实、准确和完整，没有虚假记载、误导性陈 述或重大遗漏。 江苏江阴农村商业银行股份有限公司（以下简称"本行"）于 2024 年 10 月 18 日以电子邮件及书面方式向全体监事发出关于召开第八届监事会第 ...

证券代码：002807 证券简称：江阴银行 公告编号：2024-044 二、关于《2024 年三季度内部审计情况报告》的议案 本行董事会审计委员会审议通过了该议案。 本议案同意票 12 票，反对票 0 票，弃权票 0 票。 三、关于《2024 年第三季度报告》的议案 本行董事会审计委员会审议通过了该议案。 江苏江阴农村商业银行股份有限公司 第八届董事会第七次会议决议公告 本行及董事会全体成员保证信息披露内容真实、准确和完整，没有虚假记载、误导性陈 述或重大遗漏。 江苏江阴农村商业银行股份有限公司（以下简称"本行"）于 2024 年 10 月 18 日以电子邮件及书面方式向全体董事发出关于召开第八届董事会第七次会议的 通知，会议于 2024 年 10 月 29 日在苏州召开，以现场结合视频方式进行表决。本 行应参会董事 13 名，实际参会董事 13 名，符合《公司法》、《深圳证券交易所 股票上市规则》和本行《章程》的规定。因相关股东质押本行股权数量已超过其 持有本行股权的 50%，根据监管相关规定，董事徐建东本次会议无表决权。本行 监事、高级管理人员列席会议，会议由宋萍董事长主持。本次会议合法有效。会 议审议通 ...

Financial Performance - Total operating income for Q3 2024 was RMB 843.83 million, a decrease of 7.97% year-on-year[3] - Net profit attributable to shareholders for Q3 2024 was RMB 402.11 million, an increase of 0.70% year-on-year[3] - Net profit attributable to shareholders after deducting non-recurring gains and losses for Q3 2024 was RMB 387.47 million, a decrease of 0.79% year-on-year[3] - Total operating revenue for the first nine months of 2024 reached RMB 3,017,761 thousand, an increase from RMB 2,978,284 thousand in the previous year, reflecting a growth of approximately 1.3%[28] - Net profit for the first nine months of 2024 was RMB 1,126,067 thousand, compared to RMB 1,131,374 thousand in the same period last year, showing a marginal decrease of about 0.5%[28] - Basic earnings per share for the period were RMB 0.4641, down from RMB 0.4861 in the previous year[29] Asset and Liability Management - The bank's total assets as of September 30, 2024, were RMB 186.63 billion, a 0.32% increase from the beginning of the year[3] - The bank's total liabilities decreased to RMB 168,723,326 thousand from RMB 169,953,616 thousand, a reduction of approximately 0.7%[28] - The bank's net assets attributable to shareholders increased to RMB 17.62 billion, an increase of 11.57% from the beginning of the year[3] - The total amount of loans classified as normal is 118,733,530 thousand RMB, accounting for 97.68% of total loans as of September 30, 2024[22] Loan and Deposit Growth - Total deposits reached RMB 146.83 billion by the end of September 2024, an increase of 5.48% from the beginning of the year[6] - Total loans amounted to RMB 121.54 billion by the end of September 2024, an increase of 5.37% from the beginning of the year[6] - Total deposits reached RMB 146,830,096 thousand as of September 30, 2024, an increase from RMB 139,208,038 thousand at the end of 2023, representing a growth of 1.16%[15] - Total loans amounted to RMB 121,543,928 thousand as of September 30, 2024, up from RMB 115,352,491 thousand at the end of 2023, indicating a growth of 5.12%[15] Non-Performing Loans and Risk Management - The bank's non-performing loan balance decreased by RMB 0.39 billion, and the non-performing loan ratio decreased by 0.08 percentage points compared to the beginning of the year[8] - The non-performing loan ratio is 0.90% as of September 30, 2024, a decrease from 0.98% at the end of 2023[20] - The bank's non-performing loan ratio remained stable, reflecting effective risk management strategies[27] Capital and Liquidity Ratios - The capital adequacy ratio as of September 30, 2024, is 15.34%, up from 14.24% at the end of 2023 and 13.90% at the end of 2022[20] - The core tier 1 capital adequacy ratio increased to 14.19% as of September 30, 2024, compared to 13.10% at the end of 2023 and 12.77% at the end of 2022[20] - The liquidity coverage ratio stands at 93.58% as of September 30, 2024, significantly higher than 82.09% at the end of 2023[20] - The leverage ratio increased to 8.59% as of September 30, 2024, from 7.76% at the end of 2023[21] Cash Flow Analysis - The bank's cash flow from operating activities showed a net inflow of RMB 3,834,202 thousand, a significant increase of 212.69% compared to the previous year[14] - The bank's cash flow from investment activities recorded a net outflow of RMB 2,141,224 thousand, a decrease of 138.88% year-on-year[14] - The bank's cash flow from financing activities showed a net outflow of RMB 2,174,543 thousand, reflecting an increase of 4.86% compared to the previous year[14] - Cash inflow from investment activities reached ¥38,906,468, significantly up from ¥16,295,051 in the prior period[30] - Cash outflow from investment activities was ¥41,047,692, compared to ¥10,787,090 in the previous period, resulting in a net cash flow from investment activities of -¥2,141,224[30] - The net cash flow from financing activities was -¥2,174,543, compared to -¥2,285,692 in the previous period[31] Other Financial Metrics - The cost-to-income ratio improved to 29.55% as of September 30, 2024, down from 30.87% at the end of 2023[20] - The return on total assets (ROA) is 0.60% (not annualized) as of September 30, 2024, compared to 1.14% at the end of 2023[20] - The bank's investment income rose to RMB 606,279 thousand, compared to RMB 563,661 thousand in the previous year, indicating an increase of about 7.5%[28] Strategic Initiatives - The bank plans to enhance its digital banking services and expand its market presence in rural areas to drive future growth[27] Audit Status - The company has not undergone an audit for the third quarter report[32]

[Table_MainInfo] 公司研究/金融/银行 证券研究报告 江阴银行（002807）公司半年报点评 2024 年 09 月 19 日 [Table_InvestInfo] 投资评级 优于大市 维持 | --- | --- | |-----------------------------------------------------|---------------| | 股票数据 | | | [ 09 Table_StockInfo 月 18 日收盘价（元） ] | 3.42 | | 52 周股价波动（元） | 3.45-4.18 | | 股本结构 | | | [ 总股本（ Table_CapitalInfo 百万股） ] | 2461 | | 流通 A 股（百万股） | 2458 | | B 股 /H 股（百万股） 相关研究 | 0/0 | | [Table_ReportInfo] 《江阴银行 23 年业绩点评： | Q4 营收增速 | | 有所回升，不良率继续改善》 | 2024.04.12 | 市场表现 [Table_QuoteInfo] -6.97% -1.97% 3.03% 8.03% 1 ...

证券代码： 002807 证券简称：江阴银行 江苏江阴农村商业银行股份有限公司 2024 年半年度报告网上业绩说明会 投资者关系活动记录表 编号：2024-06 | --- | --- | --- | |-----------------------|----------------------------------|---------------------------------------------------------------------------------------| | | | | | 投资者关系活动 | □ 特定对象调研 | □ 分析师会议 | | 类别 | □ 媒体采访 | √ 业绩说明会 | | | □ 新闻发布会 | □ 路演活动 | | | □ 现场参观 | | | | □ 其他 | （请文字说明其他活动内容） | | 参与单位名称及 | 投资者网上提问 | | | 人员姓名 | | | | 时间 地点 | 2024 年 9 月 6 日 ( | 周五 ) 下午 15:00~16:00 公司通过全景网"投资者关系互动平台"（ https://ir.p5w.net ） | | ...

证券代码：002807 证券简称：江阴银行 公告编号：2024-043 江苏江阴农村商业银行股份有限公司 关于举行 2024 年半年度报告说明会的公告 本行及董事会全体成员保证信息披露内容真实、准确和完整，没有虚假记载、误导性陈 述或重大遗漏。 江苏江阴农村商业银行股份有限公司（以下简称"本行"）于 2024 年 8 月 28 日披露了《2024 年半年度报告》及其摘要，相关内容详见巨潮资讯网 （www.cninfo.com.cn）。为便于广大投资者进一步了解本行 2024 年半年度经营情 况， 本行定于 2024 年 9 月 6 日（星期五）15:00-16:00 在全景网举办 2024 年半年 度报告网上业绩说明会（以下简称"本次说明会"）。本次说明会将采用网络远程 的方式举行，投资者可登录"全景路演"（http://rs.p5w.net）参与本次说明会。 出席本次说明会的人员有：董事长宋萍女士、行长倪庆华先生、财务总监常 惠娟女士、独立董事朱南军先生、董事会秘书卞丹娟女士。 为充分尊重投资者、提升交流的针对性，现就本行 2024 年半年度业绩说明 会提前向投资者公开征集问题，广泛听取投资者的意见和建议。 ...

证券研究报告 金融公司|公司点评|江阴银行（002807） 营收增速边际改善，息差边际回升 请务必阅读报告末页的重要声明 glzqdatemark1 2024年08月28日 证券研究报告 |报告要点 江阴银行公布 2024 年半年报，2024H1 公司实现营收 21.74 亿元，同比+5.46%，增速较 2024Q1 +2.90pct；实现归母净利润 7.25 亿元，同比+10.50%，增速较 2024Q1 -2.22pct。 |分析师及联系人 SAC：S0590522100001 刘雨辰 陈昌涛 请务必阅读报告末页的重要声明 1 / 5 金融公司|公司点评 glzqdatemark2 2024年08月28日 江阴银行(002807) 营收增速边际改善，息差边际回升 | --- | --- | |----------------------------|------------------------| | | | | 行 业： | 银行/农商行Ⅱ | | 投资评级： 当前价格： | 买入（维持） 3.79 元 | | 基本数据 | | | 总股本/流通股本(百万股 ) | 2,461.39/2,458.47 ...

Financial Performance - Total operating income for the first half of 2024 reached RMB 2,173,930,000, an increase of 5.46% compared to RMB 2,061,415,000 in the same period of 2023[11]. - Net profit attributable to shareholders of the listed company was RMB 725,388,000, reflecting a growth of 10.50% from RMB 656,467,000 in the first half of 2023[11]. - The net profit after deducting non-recurring gains and losses was RMB 682,149,000, which is a significant increase of 20.82% compared to RMB 564,578,000 in the same period last year[11]. - Basic earnings per share for the first half of 2024 were RMB 0.3006, a slight decrease of 0.53% from RMB 0.3022 in the same period of 2023[11]. - The net profit for the first half of 2024 was RMB 43,239 thousand after accounting for taxes and minority interests[15]. - The bank achieved operating income of RMB 2.174 billion and a net profit attributable to shareholders of RMB 725 million, representing increases of 5.46% and 10.50% respectively[23]. - The net profit after deducting non-recurring gains and losses for the current reporting period was 68,215,000 CNY, reflecting a year-on-year increase of 20.82% compared to the same period last year[137]. - The net profit for the first half of 2024 was RMB 727,463 thousand, a marginal decrease of 0.1% compared to RMB 731,559 thousand in the previous year[141]. Assets and Liabilities - The total assets as of June 30, 2024, amounted to RMB 186,747,128,000, showing a slight increase of 0.39% from RMB 186,029,579,000 at the end of 2023[11]. - The total liabilities stood at RMB 169.21 billion, slightly down from RMB 169.95 billion at the end of 2023[47]. - The bank's total assets yield was 0.39% (not annualized) for the first half of 2024, down from 1.14% in 2023, reflecting changes in asset management strategies[18]. - The bank's total equity attributable to shareholders increased to RMB 17,249,073 thousand, compared to RMB 15,790,674 thousand, an increase of 9.18%[139]. - The bank's total liabilities at the end of the period are RMB 3,056,195 thousand, indicating a manageable debt level relative to equity[152]. Capital and Equity - The net assets attributable to shareholders of the listed company increased by 9.24% to RMB 17,249,073,000 from RMB 15,790,674,000 at the end of 2023[11]. - The bank's capital adequacy ratio stood at 15.09% as of June 30, 2024, an increase from 14.24% at the end of 2023, reflecting improved capital strength[18]. - The bank's core tier 1 capital adequacy ratio was 13.92% as of June 30, 2024, up from 13.10% at the end of 2023, demonstrating a solid capital position[21]. - The bank's capital reserve increased significantly to RMB 2.14 billion, up 136.09% from RMB 908.17 million at the end of 2023[52]. - The total equity attributable to the parent company increased to CNY 17,249,073, representing a growth of approximately 2.9% from the previous year-end balance of CNY 16,075,963[146]. Risk Management - The non-performing loan ratio remained stable at 0.98% as of June 30, 2024, consistent with the previous year, indicating effective credit risk management[18]. - The bank's credit risk management system includes a three-line defense mechanism and various specialized committees for comprehensive risk management[66]. - The bank has implemented a financial asset risk classification management system since July 1, 2023, to assess borrower repayment capabilities[67]. - The bank's provision coverage ratio increased to 435.25%, up by 25.79 percentage points from the beginning of the year[55]. - The bank's operational risk management aims to prevent systemic operational risks and significant operational losses, with a focus on improving internal control systems and executing key institutional measures[76]. Digital Transformation and Innovation - The bank is focusing on retail transformation and expanding inclusive finance to optimize asset structure[36]. - The bank is actively promoting the application of digital currency, with an increase in the number of corporate wallet card bindings and new loan issuances[31]. - The bank's electronic banking transaction substitution rate has exceeded 90%, indicating a significant shift towards online channels for customer interactions[81]. - The bank is developing a digital financial ecosystem through innovative platforms for customer managers and comprehensive services for small businesses[89]. - The bank plans to leverage technology for risk control and data governance, creating a service architecture that integrates data services and products[89]. Social Responsibility and Community Engagement - The bank actively supports rural revitalization, establishing partnerships with over 250 administrative villages[101]. - The bank has enhanced its services for elderly clients, including the installation of barrier-free facilities and the launch of an elderly care service brand[102]. - The bank's management emphasizes a commitment to social responsibility and sustainable development, balancing economic, social, and environmental goals[99]. - The bank organized nearly 700 female employees into the "Jiangyin Caring Moms" team, focusing on five core services to assist women and children in need[105]. - The bank has introduced innovative loan products such as "Environmental Loan" and "Green Energy Loan" to support energy-saving and ecological restoration industries[103]. Compliance and Governance - The bank has established a comprehensive compliance risk management system to effectively control compliance risks, with a focus on enhancing internal control and compliance management capabilities[75]. - The bank's financial report was approved by the board on August 26, 2024, ensuring compliance with regulatory requirements[155]. - The bank's financial operations are governed by the accounting standards set forth by the Ministry of Finance, ensuring transparency and accuracy in reporting[159]. - The bank's strategy appears focused on strengthening its capital base and managing risks effectively to support future growth[146]. - The bank has not experienced any major litigation or bankruptcy restructuring during the reporting period[109].

本议案同意票 12 票，反对票 0 票，弃权票 0 票。 二、关于《2024 年半年度报告》及摘要的议案 公司董事会审计委员会审议通过了该议案。 证券代码：002807 证券简称：江阴银行 公告编号：2024-039 江苏江阴农村商业银行股份有限公司 第八届董事会第六次会议决议公告 本行及董事会全体成员保证信息披露内容真实、准确和完整，没有虚假记载、误导性陈 述或重大遗漏。 江苏江阴农村商业银行股份有限公司（以下简称"本行"）于 2024 年 8 月 16 日 以电子邮件及书面方式向全体董事发出关于召开第八届董事会第六次会议的通 知，会议于 2024 年 8 月 26 日在江阴市澄江中路 1 号银信大厦会议室召开，以现 场方式进行表决。本行应参会董事 13 名，实际参会董事 13 名，符合《公司法》、 《深圳证券交易所股票上市规则》和本行《章程》的规定。因相关股东质押本行 股权数量已超过其持有本行股权的 50%，根据监管相关规定，董事徐建东本次会 议无表决权。本行监事、高级管理人员列席会议，会议由宋萍董事长主持。本次 会议合法有效。会议审议通过了以下议案： 一、关于《2024 年上半年经营情况报告》的议案 本 ...