Core Insights - The People's Bank of China Dongguan Branch is actively promoting green finance to support the local economy's transition to low-carbon development, with a green loan balance of 249.36 billion yuan as of Q1 2025, reflecting a growth of 7.99% since the beginning of the year, outpacing the overall loan growth rate by 5.27 percentage points [1] Group 1: Financial Support and Policy Tools - A Guangdong-based new energy company received a loan of 10 million yuan from Dongguan Bank, supported by the "Guanlv Rong" small re-loan program, aimed at enhancing green energy supply capabilities [2] - The Dongguan Branch has injected 51.221 billion yuan through structural monetary policy tools in 2024, a year-on-year increase of 4.496 billion yuan, with a focus on carbon reduction support tools [2] - The "Guanlv Rong" program has disbursed 157 million yuan in small re-loans and facilitated 373 million yuan in "Green Chain" re-discounts, while guiding local banks to issue green bonds totaling 1.5 billion yuan [2] Group 2: Innovative Financial Products - Dongguan Jinzhou Paper Industry Co., Ltd. utilized a carbon emissions rights pledge to secure a loan of 500,000 yuan, demonstrating a new financing model that enhances carbon asset liquidity [3] - The introduction of the "Stable Business Card" by Dongguan Rural Commercial Bank provided 4.5 million yuan to support a marine ranch project, recognized as a 2024 "Green Finance Reform and Innovation Promotion Case" [3] Group 3: Financing Services and Industry Support - In 2024, local banks issued loans totaling 20.43 billion yuan to green manufacturing enterprises, significantly supporting their low-carbon transition projects [4] - The Dongguan Branch established a financing mechanism connecting leading enterprises, cooperative banks, and small and micro enterprises, with a total credit amount of 3.8 billion yuan for the new energy sector [4] - A Guangdong ceramic company received a loan of 1.5 million yuan to implement low-carbon transition technologies, highlighting the financial support for energy structure optimization [4] Group 4: Standards and Guidelines for Low-Carbon Transition - The Dongguan Branch facilitated the release of the "Guangdong Province Ceramic Industry Transition Financial Implementation Guidelines," providing operational guidance for financial support in low-carbon transitions [5] - The first financial loans for the cement industry transition were issued, with 20 million yuan allocated to support a local cement company's transformation efforts [5] - The integration of finance and green initiatives is expected to enable more Dongguan enterprises to advance in their green development and transformation journeys [5]

Group 1: Financial Performance - In Q1 2025, the company achieved revenue of 1.324 billion yuan, a year-on-year increase of 3.29%, and a net profit attributable to shareholders of 562 million yuan, up 3.20% year-on-year [1] - The annualized weighted average ROE for Q1 2025 was 12.56%, a slight decrease of 0.24 percentage points compared to the previous year [1] - The company's total assets grew by 3.15% year-on-year to 223.283 billion yuan, with loan and deposit growth rates of 8.32% and 3.49% respectively [1] Group 2: Interest Income and Investment Performance - The average net interest margin for Q1 was 1.43%, down 32 basis points year-on-year, leading to a net interest income of 775 million yuan, a decrease of 14.63% year-on-year [2] - Investment income rose significantly to 449 million yuan, a year-on-year increase of 45.31%, primarily due to increased gains from the disposal of financial assets [2] - The company reported a net commission income of 41.3465 million yuan, up 135.53% year-on-year, benefiting from reduced agency business fees [2] Group 3: Asset Quality and Projections - The non-performing loan ratio remained stable at 0.94%, while the provision coverage ratio was 375.48%, down 0.55 percentage points from the beginning of the year [2] - The company slightly adjusted its profit forecast, projecting net profits of 2 billion yuan for 2025, with a year-on-year growth rate of 3.8% [3] - The current stock price corresponds to a PE ratio of 5.3 for 2025, with a PB ratio of 0.53 [3]

Core Insights - Financial investment business is evolving from traditional tools to a new revenue engine for listed banks amid narrowing net interest margins and sluggish profit growth [2][3] - Bond investments are showing strong yield elasticity during the market interest rate decline in 2024, effectively cushioning the impact of declining net interest income on financial statements [2][3] Group 1: Financial Performance - In 2024, 42 listed A-share banks reported a total net profit of 2.14 trillion yuan, averaging daily earnings of approximately 58.58 billion yuan [3] - The total financial investment amount reached 91.41 trillion yuan, generating 512.8 billion yuan in investment income, with over 90% of banks achieving year-on-year positive growth in investment income [3][4] - Among these banks, 37 reported positive growth in investment income, with five small and medium-sized banks achieving over 100% year-on-year growth [3][4] Group 2: Investment Trends - The average proportion of investment income to total revenue for the 42 listed banks increased to 15.61% in 2024, up from 12.33% in 2023 [4] - Nine banks had investment income accounting for over 20% of their revenue, all of which were small and medium-sized banks [4] - Jiangsu Bank, Ningbo Bank, Nanjing Bank, and Beijing Bank reported investment income exceeding 10 billion yuan in 2024 [5] Group 3: Market Dynamics - The preference for bond investments among small and medium-sized banks is attributed to narrowing net interest margins and increased competition [6][7] - The bond market has become a significant source of income for banks, especially for rural commercial banks, which have become active participants in the bond market [6][7] - The overall bond yield trend in 2024 was downward, with the 10-year government bond yield decreasing to 1.68% by December 31, creating favorable conditions for bond investment income growth [7][8] Group 4: Future Outlook - Many banks maintain an optimistic outlook on bond investments for 2025, anticipating continued opportunities in the bond market due to expected fluctuations in bond rates [8]

Core Viewpoint - Zhangjiagang Bank (002839) reported a strong performance in Q1 2025, with total assets exceeding 220 billion yuan, and both revenue and net profit showing growth, achieving a record high for quarterly profit in the last decade [2] Financial Performance - The bank's operating revenue reached 1.324 billion yuan, an increase of 42 million yuan year-on-year, representing a growth rate of 3.29% [2] - The net profit attributable to shareholders was 562 million yuan, up by 17 million yuan from the previous year, with a growth rate of 3.20% [2] - As of the end of Q1, total assets stood at 223.283 billion yuan, an increase of 4.375 billion yuan since the beginning of the year, reflecting a growth rate of 2.00% [3] - Total deposits amounted to 174.627 billion yuan, increasing by 7.996 billion yuan, with a growth rate of 4.80% [3] - Total loans reached 144.358 billion yuan, up by 7.043 billion yuan, representing a growth rate of 5.13% [3] - The non-performing loan ratio was 0.94%, unchanged from the beginning of the year, while the provision coverage ratio was 375.48%, indicating strong risk resistance capabilities [3] Business Strategy and Development - The bank is focusing on expanding non-interest income, which grew by 46.4% year-on-year in Q1, as a response to narrowing interest margins due to market interest rate liberalization [3] - Zhangjiagang Bank emphasizes three main business segments: inclusive finance, corporate finance, and financial markets, with a strategic focus on enhancing the financial market segment [4] - The bank is actively involved in supporting small and micro enterprises, implementing a "Port Development Pass" financial service plan tailored for key industries such as semiconductors, biomedicine, and new energy [7][9] Regional Economic Context - Zhangjiagang Bank operates primarily in the economically vibrant Yangtze River Delta region, with a network of 21 branches in cities like Suzhou, Wuxi, and Nantong [5] - The local economy is characterized by strong growth in advanced manufacturing, modern services, and emerging industries, with significant increases in industrial output and project financing [5][6] - The bank's focus on corporate loans has increased, with the proportion of corporate loans rising from 49.87% in 2023 to 53.15% in 2024, particularly for technology enterprises [6] Community and Technological Initiatives - The bank is committed to inclusive finance, establishing rural financial service points and enhancing digital banking capabilities to provide convenient services to local communities [9] - Innovative financial technology initiatives have been launched, including the integration of financial services with daily life scenarios, achieving significant transaction volumes in digital currency [9]

江苏张家港农村商业银行股份有限公司 关于董事辞去职务的公告 本公司及董事会全体成员保证公告内容真实、准确和完整，没有虚假记载、误导性陈 述或重大遗漏。 江苏张家港农村商业银行股份有限公司（以下简称"公司"）董事会收到公 司董事王义东先生的书面辞任报告。王义东先生因工作安排，申请辞去公司董事 职务。根据《公司法》《公司章程》的有关规定，王义东先生辞去职务未导致公 司董事会成员人数低于法定最低人数，不会对公司董事会的正常运作产生影响， 上述辞呈自送达公司董事会时生效。王义东先生辞任后将不再担任公司及子公司 的任何职务。截至本公告披露日，王义东先生未持有公司股票，不存在应当履行 而未履行的股份锁定承诺事项。 证券代码：002839 证券简称：张家港行 公告编号：2025-017 江苏张家港农村商业银行股份有限公司董事会 二〇二五年四月二十九日 王义东先生在担任公司董事职务期间，认真履职，勤勉尽责。公司董事会对 王义东先生任职期间对公司做出的贡献表示衷心的感谢！ 特此公告。 ...

重要提示： 1、本次股东大会未出现否决提案的情形。 2、本次股东大会未涉及变更以往股东大会已通过的决议。 一、会议召开和出席情况 （一）召开时间 2024 年度股东大会决议公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记录、误导性陈 述或重大遗漏。 证券代码：002839 证券简称：张家港行 公告编号：2025-018 江苏张家港农村商业银行股份有限公司 1、现场会议召开时间：2025 年 4 月 29 日（星期二）下午 2:00 2、网络投票时间：2025 年 4 月 29 日 通过深圳证券交易所交易系统进行网络投票的时间为 2025 年 4 月 29 日上 午 9:15—9:25、9:30—11:30，下午 13：00—15:00； 通过互联网投票系统（http://wltp.cninfo.com.cn）投票的时间为 2025 年 4 月 29 日上午 9:15 至 2025 年 4 月 29 日下午 15:00 期间的任意时间。 （二）会议地点：张家港市杨舍镇人民中路 66 号张家港农商银行十九楼会 议室 （三）召开方式：采取现场投票与网络投票相结合的方式。 （四）召集人：江苏张家 ...

国浩律师（苏州）事务所 关于 江苏张家港农村商业银行股份有限公司 2024 年度股东大会的 法律意见书 苏州工业园区旺墩路 269 号圆融星座商务广场 1 幢 28 楼（215000） 电话:（+86）（512）62720177 传真:（+86）（512）62720199 www.grandall.com.cn 网址/Website:http://www.grandall.com.cn 2025 年 4 月 国浩律师（苏州）事务所 股东大会法律意见书 国浩律师（苏州）事务所 关于江苏张家港农村商业银行股份有限公司 本次股东大会现场会议于 2025 年 4 月 29 日（星期二）14:00 在江苏张家港 市杨舍镇人民中路 66 号张家港农村商业银行十九楼会议室召开，会议由公司董 事长孙伟先生主持。会议的时间、地点及其他事项与本次股东大会通知的内容一 致。 本次股东大会采取现场投票与网络投票相结合的方式，公司通过深圳证券交 易所交易系统和互联网投票系统（http://wltp.cninfo.com.cn）向公司股东提供网络 国浩律师（苏州）事务所 股东大会法律意见书 2024 年度股东大会的 法律意见书 致: 江 ...

经审核，监事会认为：公司编制 2025 年第一季度报告的程序符合法律、法 规规定，报告内容真实、准确、完整地反映了公司的实际情况。 公司 2025 年第一季度报告同日在《证券时报》《中国证券报》和巨潮资讯 网（http://www.cninfo.com.cn）上披露。 表决结果：同意 5 票，反对 0 票，弃权 0 票。 证券代码：002839 证券简称：张家港行 公告编号：2025-015 江苏张家港农村商业银行股份有限公司 第八届监事会第九次会议决议公告 本公司及监事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、误导性陈 述或者重大遗漏。 江苏张家港农村商业银行股份有限公司（以下简称"公司"）于 2025 年 4 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九次会 议的通知，会议于 2025 年 4 月 29 日在公司十七楼会议室召开，以现场会议表决 方式进行表决。公司应参会监事 5 名，实际参会监事 5 名。会议由监事长丁娅女 士主持，本次会议的召集、召开符合《公司法》《深圳证券交易所上市公司自律 监管指引第 1 号—主板上市公司规范运作》和《公司章程》的规定，会议合法 ...

一、审议通过了《行长室 2025 年第一季度业务经营报告》； 表决结果：同意 9 票，反对 0 票，弃权 0 票。 二、审议通过了《关于公司 2025 年第一季度报告的议案》； 证券代码：002839 证券简称：张家港行 公告编号：2025-014 江苏张家港农村商业银行股份有限公司 第八届董事会第九次会议决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假记载、误导 性陈述或者重大遗漏。 江苏张家港农村商业银行股份有限公司（以下简称"公司"）于 2025 年 4 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九次会议 的通知，会议于 2025 年 4 月 29 日在公司十九楼会议室召开，以现场加视频会议 表决方式进行表决。公司应参会董事 9 名，实际参会董事 9 名。会议由董事长孙 伟先生主持，监事和高级管理人员列席，本次会议的召集、召开符合《公司法》 《深圳证券交易所股票上市规则》和《公司章程》的规定，会议合法有效。会议 经逐项表决，通过以下议案： 公司 2025 年第一季度报告同日在《证券时报》《中国证券报》和巨潮资讯网 （http://www.cninfo ...

Financial Performance - Net profit attributable to shareholders rose by 3.20% to CNY 562.30 million year-on-year[5] - Operating income grew by 3.29% to CNY 1.32 billion compared to the same period last year[5] - The basic earnings per share decreased by 8.00% to CNY 0.23 per share[5] - The net profit margin was maintained at a healthy level, reflecting the company's operational efficiency[15] - The net profit attributable to the parent company was approximately ¥562.30 million, compared to ¥544.85 million in the previous period, reflecting an increase of about 3.3%[38] - The diluted earnings per share were ¥0.23, compared to ¥0.21 in the previous period, indicating an increase of about 9.5%[38] - The total comprehensive income attributable to the parent company was approximately ¥362.38 million, down from ¥542.64 million in the previous period, reflecting a decrease of about 33.2%[38] Asset and Liability Management - Total assets increased by 2.00% to CNY 223.28 billion compared to the end of the previous year[5] - Total liabilities increased to ¥203.02 billion, marking a 2.01% rise from the end of 2024[23] - The bank's equity attributable to shareholders reached ¥20.26 billion, a 1.85% increase from the previous year-end[23] - The bank's core Tier 1 capital ratio stood at 10.91%, unchanged from the previous quarter[21] - The leverage ratio was reported at 7.08%, slightly down from 7.09% at the end of 2024[21] Loan and Deposit Growth - Customer loans and advances amounted to ¥144.36 billion, up 5.13% from the previous year-end[23] - The bank's customer deposits increased to ¥174.63 billion, reflecting a growth of 4.80% compared to the previous year-end[23] - Total loans increased to RMB 144.36 billion, rising by RMB 7.04 billion, or 5.13% since the beginning of the year[29] - Total deposits amounted to RMB 174.63 billion, up RMB 7.99 billion, or 4.80% year-to-date[29] Risk and Asset Quality - The non-performing loan ratio remained stable at 0.94%, meeting the regulatory limit of 5%[15] - The bank's non-performing loans totaled ¥1.35 billion, maintaining a ratio of 0.94%[24] - The provision coverage ratio stood at 375.48%, indicating a strong buffer against potential loan losses[29] Cash Flow and Investment - The net cash flow from operating activities was negative at CNY -2.92 billion, a significant decrease from CNY 1.74 billion in the previous year[5] - The net cash flow from investment activities was approximately ¥4.81 billion, compared to ¥1.99 billion in the previous period, showing an increase of about 141%[41] - The cash and cash equivalents at the end of the period totaled approximately ¥7.04 billion, up from ¥4.02 billion in the previous period, representing an increase of about 75%[41] - The net cash flow from financing activities was approximately ¥365.01 million, a turnaround from a negative cash flow of -¥4.82 billion in the previous period[41] Operational Strategy - The bank aims to enhance its service to small and micro enterprises, aligning with its 2024-2026 development plan[28] - The bank is focused on risk control and strengthening its workforce as part of its operational strategy[28]