Core Viewpoint - Zhangjiagang Rural Commercial Bank has received approval from the Suzhou Financial Supervision Bureau to amend its articles of association, expanding its business scope to include public securities investment fund sales [1] Group 1: Business Scope Changes - The bank has completed the registration change for its business license, which now includes public securities investment fund sales as part of its operational scope [1] - The updated business scope includes accepting public deposits, issuing short, medium, and long-term loans, handling domestic and international settlements, and other financial services [1] - The bank has also completed the industrial and commercial registration procedures for the revised articles of association [1]

关于《营业执照》登记信息变更及《公司章程》备案的公告 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"）前期已收到《苏 州金融监管分局关于张家港农村商业银行修改章程的批复》（苏州金复〔2025〕 193 号）（公告编号：2025-029），近日，公司完成《营业执照》登记信息变更事 宜，"经营范围"增加了公募证券投资基金销售，并取得苏州市数据局换发的《营 业执照》。 证券代码：002839 证券简称：张家港行 公告编号：2025-033 江苏张家港农村商业银行股份有限公司 其他登记事项不变。同时，公司完成修订后《公司章程》的工商备案手续。 特此公告。 江苏张家港农村商业银行股份有限公司董事会 二〇二五年十一月二十日 变更后经营范围如下： 吸收公众存款；发放短期、中期和长期贷款；办理国内外结算；办理票据承 兑与贴现；代理收付款项及代理保险业务；代理发行、代理兑付、承销政府债券； 买卖政府债券、金融债券；从事同业拆借；提供保管箱服务；办理借记卡业务； 外汇存款；外汇贷款；外汇汇款；外币兑换；结汇、售汇；资信调查、 ...

Core Insights - The rural commercial bank sector experienced a rise of 0.95% on November 20, with Qingnong Commercial Bank leading the gains [1] - The Shanghai Composite Index closed at 3931.05, down 0.4%, while the Shenzhen Component Index closed at 12980.82, down 0.76% [1] Stock Performance - Qingnong Commercial Bank (002958) closed at 3.25, up 1.88% with a trading volume of 979,600 shares and a transaction value of 317 million yuan [1] - Zijin Bank (601860) closed at 2.88, up 1.41% with a trading volume of 655,100 shares and a transaction value of 188 million yuan [1] - Ruifeng Bank (601528) closed at 5.64, up 1.26% with a trading volume of 202,200 shares and a transaction value of 114 million yuan [1] - Other notable performances include: - Hunan Commercial Bank (601825) up 1.12% - Zhangjiagang Bank (002839) up 1.09% - Jiangyin Bank (002807) up 0.83% [1] Capital Flow - The rural commercial bank sector saw a net inflow of 41.89 million yuan from main funds, while retail funds experienced a net outflow of 24.95 million yuan [1] - Main fund inflows were led by Zijin Bank with 21.16 million yuan and Jiangyin Bank with 20.85 million yuan [2] - Retail fund outflows were significant in Zijin Bank (-15.92 million yuan) and Jiangyin Bank (-14.52 million yuan) [2]

Core Viewpoint - Zhangjiagang Bank's stock has shown a positive trend with a year-to-date increase of 14.99%, reflecting investor interest and market performance [1][2]. Financial Performance - For the period from January to September 2025, Zhangjiagang Bank reported a net profit attributable to shareholders of 1.572 billion yuan, representing a year-on-year growth of 5.79% [2]. - The bank has cumulatively distributed dividends amounting to 3.083 billion yuan since its A-share listing, with 1.601 billion yuan distributed over the past three years [3]. Stock Market Activity - As of November 20, the stock price of Zhangjiagang Bank was 4.68 yuan per share, with a trading volume of approximately 99.83 million yuan and a turnover rate of 0.88% [1]. - The stock has experienced a recent net outflow of 1.8012 million yuan in principal funds, with significant buying and selling activity from large orders [1]. Shareholder Information - As of November 10, the number of shareholders for Zhangjiagang Bank was 49,600, a decrease of 2.33% from the previous period, while the average number of circulating shares per person increased by 2.39% to 49,270 shares [2]. - The sixth largest circulating shareholder, Hong Kong Central Clearing Limited, held 83.5211 million shares, a decrease of 22.6801 million shares from the previous period [3]. Business Overview - Zhangjiagang Bank, established on November 27, 2001, and listed on January 24, 2017, operates primarily in corporate banking (60.47% of revenue), personal banking (20.05%), and funding operations (20.00%) [1]. - The bank is categorized under the banking sector, specifically as a rural commercial bank [1].

Core Insights - The agricultural commercial bank sector experienced a 0.46% increase on November 19, with Shanghai Agricultural Commercial Bank leading the gains [1] - The Shanghai Composite Index closed at 3946.74, up 0.18%, while the Shenzhen Component Index closed at 13080.09, unchanged [1] Stock Performance - Shanghai Agricultural Commercial Bank (601825) closed at 8.96, up 0.79% with a trading volume of 183,500 shares and a turnover of 165 million yuan [1] - Chongqing Agricultural Commercial Bank (601077) closed at 6.72, up 0.60% with a trading volume of 379,500 shares and a turnover of 256 million yuan [1] - Wuxi Bank (600908) closed at 6.19, up 0.49% with a trading volume of 128,300 shares and a turnover of 79.31 million yuan [1] - Other notable performances include Changshu Bank (601128) at 7.10 (+0.28%) and Suzhou Agricultural Bank (603323) at 5.26 (+0.19%) [1] Capital Flow - The agricultural commercial bank sector saw a net inflow of 6.72 million yuan from institutional investors, while retail investors experienced a net outflow of 10.77 million yuan [1] - Jiangyin Bank (002807) had a net inflow of 21.05 million yuan from institutional investors, but a net outflow of 22.96 million yuan from retail investors [2] - Changshu Bank (601128) also saw a net inflow of 10.40 million yuan from institutional investors, with a net outflow of 14.21 million yuan from retail investors [2]

Core Insights - The agricultural commercial bank sector experienced a decline of 0.94% on November 18, with Yunnan Agricultural Commercial Bank leading the drop [1] - The Shanghai Composite Index closed at 3939.81, down 0.81%, while the Shenzhen Component Index closed at 13080.49, down 0.92% [1] Stock Performance - The closing prices and changes for key agricultural banks are as follows: - Wuxi Bank (600908): Closed at 6.16, down 0.16% - Su Nong Bank (603323): Closed at 5.25, down 0.19% - Zhangjiagang Bank (002839): Closed at 4.59, down 0.22% - Shanghai Agricultural Bank (601825): Closed at 8.89, down 0.34% - Changshu Bank (601128): Closed at 7.08, down 0.56% - Jiangyin Bank (002807): Closed at 4.84, down 0.62% - Ruifeng Bank (601528): Closed at 5.56, down 0.89% - Qingnong Bank (002958): Closed at 3.19, down 0.93% - Zijin Bank (601860): Closed at 2.84, down 1.39% - Yunnan Agricultural Bank (601077): Closed at 6.68, down 2.34% [1] Capital Flow - The agricultural commercial bank sector saw a net outflow of 84.52 million yuan from main funds, while retail funds experienced a net inflow of 42.45 million yuan [1] - The detailed capital flow for selected banks includes: - Su Nong Bank: Main funds net inflow of 11.60 million yuan, retail net outflow of 6.05 million yuan - Qingnong Bank: Main funds net inflow of 5.36 million yuan, retail net outflow of 4.42 million yuan - Ruifeng Bank: Main funds net inflow of 3.82 million yuan, retail net outflow of 1.59 million yuan - Zijin Bank: Main funds net inflow of 3.54 million yuan, retail net outflow of 1.21 million yuan - Wuxi Bank: Main funds net inflow of 3.32 million yuan, retail net inflow of 2.90 million yuan - Yunnan Agricultural Bank: Main funds net outflow of 60.81 million yuan, retail net inflow of 39.29 million yuan [2]

Group 1 - Zhangjiagang Bank (SZ 002839) announced that it will accept investor research on November 14, 2025, with participation from the board office head Tao Ying and others [1] - For the first half of 2025, the bank's revenue composition shows that interest income accounted for 75.14%, while non-interest income accounted for 2.73% [1] - As of the report date, Zhangjiagang Bank's market capitalization is 11.2 billion yuan [2]

Group 1: Investor Relations Activities - The investor relations activity was conducted on November 14, 2025, from 15:00 to 16:00 at the Zhangjiagang Bank headquarters [2] - Participants included representatives from various funds such as Huaxi Securities, Yinhua Fund, and ICBC Credit Suisse Fund [2] Group 2: Shareholder Capital Increase and Dividends - The bank issued 2.5 billion CNY in A-share convertible bonds, maturing in November 2024, with local government and quality state-owned enterprises purchasing these bonds [3] - Major shareholders include Zhangjiagang Jin Xin Capital Investment Management Co., Ltd. and Zhangjiagang High-tech Zone Investment Holding Co., Ltd., who became long-term strategic shareholders through bond conversion [3] - The bank has a stable dividend distribution policy, planning to distribute 0.2 CNY per 10 shares for the 2024 fiscal year and has initiated a mid-term dividend of 0.1 CNY per 10 shares for the first half of the year [3]

Market Overview - The rural commercial bank sector experienced a decline of 1.94% on November 17, with Jiangyin Bank leading the drop [1] - The Shanghai Composite Index closed at 3972.03, down 0.46%, while the Shenzhen Component Index closed at 13202.0, down 0.11% [1] Individual Stock Performance - Key stocks in the rural commercial bank sector showed the following closing prices and changes: - Zijin Bank: 2.88, down 0.69% - Wuxi Bank: 6.17, down 1.12% - Qingnong Bank: 3.22, down 1.23% - Sunong Bank: 5.26, down 1.31% - Ruifeng Bank: 5.61, down 1.41% - Zhangjiagang Bank: 4.60, down 1.50% - Changshu Bank: 7.12, down 1.52% - Yunnan Rural Commercial Bank: 6.84, down 2.15% - Hunan Rural Commercial Bank: 8.92, down 2.41% - Jiangyin Bank: 4.87, down 2.79% [1] Capital Flow Analysis - The rural commercial bank sector saw a net inflow of 7.09 million yuan from institutional investors, while retail investors experienced a net outflow of 69.16 million yuan [1] - The following table summarizes the capital flow for individual stocks: - Su Nong Bank: Institutional net outflow of 37.41 million yuan, retail net outflow of 23.52 million yuan - Wuxi Bank: Institutional net inflow of 20.36 million yuan, retail net outflow of 16.42 million yuan - Qingnong Bank: Institutional net inflow of 8.88 million yuan, retail net outflow of 4.44 million yuan - Zhangjiagang Bank: Institutional net inflow of 0.09 million yuan, retail net outflow of 4.14 million yuan - Zijin Bank: Institutional net outflow of 2.25 million yuan, retail net inflow of 1.99 million yuan - Hunan Rural Commercial Bank: Institutional net outflow of 3.01 million yuan, retail net outflow of 5.89 million yuan - Yunnan Rural Commercial Bank: Institutional net outflow of 3.03 million yuan, retail net outflow of 3.84 million yuan - Jiangyin Bank: Institutional net outflow of 4.77 million yuan, retail net outflow of 10.49 million yuan - Ruifeng Bank: Institutional net outflow of 7.96 million yuan, retail net inflow of 3.60 million yuan - Changshu Bank: Institutional net outflow of 38.61 million yuan, retail net inflow of 44.61 million yuan [2]

Core Insights - A total of 8 A-share listed banks have completed their mid-term dividend distributions for 2025, with notable first-time distributions from banks like Changshu Bank, Changsha Bank, and Su Nong Bank [1][3] - Minsheng Bank leads in dividend payout with a total of 5.954 billion yuan, while other banks like Suzhou Bank, Hangzhou Bank, and CITIC Bank are set to distribute dividends next week [1][3] - The trend of mid-term dividends is shifting from an optional practice to a positive factor for smaller banks, as evidenced by Hangzhou Bank's 24.10% year-on-year increase in its dividend payout [3] Summary by Category Dividend Distribution - As of this week, 23 A-share listed banks have disclosed their mid-term dividend plans, accounting for 56.10% of the total, with a cumulative payout of 257.586 billion yuan [3] - The six major state-owned banks collectively account for nearly 80% of the total mid-term dividend payouts, with Industrial and Commercial Bank of China leading at 50.396 billion yuan [3] First-time Dividend Payouts - Seven banks, including Changshu Bank, Ningbo Bank, and Zhangjiagang Bank, have initiated mid-term dividends for the first time, with Changshu Bank distributing 0.15 yuan per share, totaling 0.497 billion yuan [3][4] - Changsha Bank's payout is 0.20 yuan per share, amounting to 0.804 billion yuan, while Su Nong Bank and Zhangjiagang Bank's first-time payouts are 0.182 billion yuan and 0.244 billion yuan, respectively [3] Future Dividend Plans - Jiangyin Bank has announced a proposed dividend of 0.10 yuan per share, pending shareholder approval [4] - Zheshang Bank's vice president indicated that the bank has distributed over 13.2 billion yuan in dividends over the past three years and is considering future dividend arrangements based on policies and industry practices [4]