该基金属于灵活配置型基金。截至7月17日，单位净值为1.197元。基金经理是贲兴振和范国华。 AI基金银华混改红利灵活配置混合发起式A（005519）披露2025年二季报，第二季度基金利润156.49万元，加权平均基金份额本期利润0.0559元。报告期 内，基金净值增长率为5.01%，截至二季度末，基金规模为3264.97万元。 基金管理人在二季报中表示，本产品坚持低波红利策略选股，上半年跑赢了基准，我们会在自己的低波红利选股策略框架内，不断完善方法论，争取获得相 对于基准的持续稳定超额。 截至7月17日，银华混改红利灵活配置混合发起式A近三个月复权单位净值增长率为6.99%，位于同类可比基金582/880；近半年复权单位净值增长率为 8.91%，位于同类可比基金380/880；近一年复权单位净值增长率为2.26%，位于同类可比基金790/880；近三年复权单位净值增长率为-26.93%，位于同类可 比基金726/870。 通过所选区间该基金净值增长率分位图，可以观察该基金与同类基金业绩比较情况。图为坐标原点到区间内某时点的净值增长率在同类基金中的分位数。 截至6月30日，基金近三年夏普比率为-0.5078， ...

青岛 2024 年全年实现 GDP 总量 1.67 万亿元，同比增长 5.7% 。按城市排序， 2024 年青岛 GDP 总 量排在全国第 13 位。在中国北京城市中仅低于北京 4.98 万亿和天津 1.80 万亿元，排在第三。在山东则 是远高于省会济南的 1.35 万亿元，青岛 GDP 总量多年排在全省第一。 2024 年末青岛常住人口城镇化率达到 78.87% ，也即有 21.13% 的常住人口仍居住在乡村。当年三 次产业结构中农业占比 2.0% 。 历史背景 青岛银行是 1996 年在当地城市信用社基础上改制而来，并分别于 2015 年 12 月和 2019 年 1 月在香 港交易所和深圳交易所实现 H+A 两地上市（股票代码分别为： 3866.HK 和 002948.SZ ）。 青岛农商行则是于 2012 年在青岛华丰农村合作银行等多家青岛地区的农村合作银行 / 农村合作社 等基础上组建的股份制农村商业银行，并且也于 2018 年 11 月在深圳证券交易所上市（股票代码 002958 ）。 在乡村人口和农业结构占比均不高的情况下，青岛存在一家拥有强农业背景且少数在 A 股上市的 市属农村商业银行——青 ...

证券代码：002948 证券简称：青岛银行 公告编号：2025-022 2025 年 7 月 16 日 经中国人民银行批准，青岛银行股份有限公司（以下简称"本行"）于近日在 全国银行间债券市场成功发行"青岛银行股份有限公司2025年金融债券"（以下简 称"本期债券"）。 本期债券于2025年7月14日簿记建档，并于2025年7月16日发行完毕，发行规 模为40亿元人民币，品种为3年期固定利率债券，票面利率为1.71%。 本期债券募集资金将用于优化中长期资产负债匹配结构，增加稳定中长期负 债来源并支持新增中长期资产业务的开展。 特此公告。 青岛银行股份有限公司董事会 青岛银行股份有限公司 关于2025年金融债券发行完毕的公告 本行及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、误导性陈 述或者重大遗漏。 ...

Core Viewpoint - A-share listed banks are experiencing a peak in dividend distribution for the 2024 fiscal year, with over thirty banks having completed their annual dividends and several others announcing dividend implementation plans [1][3][4]. Group 1: 2024 Annual Dividends - The Industrial and Commercial Bank of China (ICBC) leads with a total cash dividend of approximately 109.77 billion yuan for the previous year [3][4]. - The six major state-owned banks have collectively distributed over 420 billion yuan in dividends for 2024, with ICBC, China Construction Bank, Agricultural Bank of China, and Bank of China being the top contributors [4][6]. - Other banks such as China CITIC Bank and Beijing Bank have also announced significant cash dividends, with CITIC Bank distributing around 19.46 billion yuan [4][5]. Group 2: 2025 Mid-Year Dividend Plans - Several banks, including China Merchants Bank and Hangzhou Bank, have initiated plans for mid-year dividends in 2025, aiming to enhance investor returns [1][8][10]. - The focus on mid-year dividends is seen as a strategy to improve liquidity and provide more consistent cash flow to investors, which may support long-term stock price appreciation [10]. - Banks like Su Nong Bank and Changsha Bank have expressed intentions to implement mid-year dividend plans based on their financial performance and regulatory requirements [8][9]. Group 3: Stock Performance and Market Trends - The banking sector has shown strong performance in the A-share market, with several banks achieving significant stock price increases in the first half of the year [12][13]. - The overall dividend yield of the banking sector remains attractive, particularly in a low-interest-rate environment, making it appealing for long-term investors [10][13]. - Some banks have faced challenges in executing share buyback plans due to stock price fluctuations, indicating a cautious approach to capital management [11][14].

Group 1: Government Initiatives - Shanghai Municipal Party Committee and the Cyberspace Administration of Shanghai launched "Several Measures to Support Quality Internet Content Creation," outlining nine support policies including financial incentives, talent policies, scene construction, and overseas support [1][6] - The Ministry of Industry and Information Technology is soliciting opinions on the revision of the "Mobile Power Safety Technical Specifications," which will impose stricter technical standards on mobile power supplies, including power banks [3][4] Group 2: Economic Data - The National Bureau of Statistics reported that China's GDP for the first half of the year reached 660,536 billion yuan, with a year-on-year growth of 5.3%. The primary, secondary, and tertiary industries grew by 3.7%, 5.3%, and 5.5% respectively [3] - The second quarter GDP growth was 5.2%, with a quarter-on-quarter increase of 1.1% [3] Group 3: Corporate Developments - Geely Holding Group announced the signing of a merger agreement between Geely Automobile and Zeekr Technology, with Geely acquiring all outstanding shares of Zeekr, offering shareholders the option of cash or stock exchange [3][14] - Bubble Mart expects its revenue for the six months ending June 30, 2025, to grow by no less than 200% year-on-year, with profits potentially increasing by no less than 350% [13][14] - Xpeng Huitian announced the completion of a $250 million Series B financing round, indicating a $100 million amount for the B2 round [13][15] Group 4: Market Trends - The banking sector has shown an upward trend, with several A-share listed banks, including Xiamen Bank and Shanghai Pudong Development Bank, seeing stock price increases of over 30% this year [8] - The eleventh batch of national drug centralized procurement has been initiated, focusing on quality control and compliance in the procurement process [5] Group 5: Strategic Partnerships - Ningde Times signed a strategic cooperation agreement with T3 Mobility to advance Robotaxi business development, leveraging its battery swap and intelligent technology solutions [13][16] - BMW China partnered with Momenta to develop a smart driving assistance solution based on a large model, applicable to multiple vehicle models [13][16]

Group 1 - The current period marks a peak for cash dividends among listed banks in A-shares, with over 30 banks having announced their annual dividends [1] - Industrial and Commercial Bank of China (ICBC) distributed approximately 44.378 billion yuan in cash dividends on July 14, with a per-share dividend of about 0.16 yuan [1] - Other banks such as China Merchants Bank and Agricultural Bank of China have also announced significant cash dividends, with China Merchants Bank distributing around 41.258 billion yuan and Agricultural Bank of China planning to distribute approximately 40.065 billion yuan [1] Group 2 - Several listed banks have indicated intentions for mid-term dividends for 2025, with Changsha Bank planning to distribute dividends based on its net profit, which has totaled 9.373 billion yuan from 2018 to 2024 [2] - The banking sector has shown strong stock performance this year, with several banks experiencing stock price increases exceeding 30% as of July 14 [2] - High dividend yields, with some banks exceeding 4.5%, are contributing to the positive performance of bank stocks, as the average dividend yield of state-owned banks surpasses the yield of 10-year government bonds [2] Group 3 - Multiple brokerages remain optimistic about bank stocks, citing the increasing certainty of insurance capital allocation to bank stocks amid an "asset shortage" [3] - The long-term investment and value investment strategies of insurance capital align with the stable dividend yields and potential for performance improvement in the banking sector [3] - A series of financial policies and structural tools are expected to support the positive accumulation of fundamental factors for banks, indicating a potential performance turning point [3] Group 4 - Some banks have announced share buyback plans, but these have been delayed due to stock price fluctuations and other factors, as seen with Huaxia Bank's announcement regarding its planned share buyback [4] - Chengdu Bank's major shareholders have also postponed their buyback plans due to the stock price exceeding the set upper limit, with the stock reaching a historical high of 20.96 yuan per share [4] - The implementation of buyback plans will depend on future stock price movements and overall market trends [4]

Core Viewpoint - The banking sector in A-shares has experienced significant growth, with a year-to-date increase exceeding 20%, outperforming major market indices like the CSI 300 and Shanghai Composite Index [3][4]. Group 1: Reasons for the Surge in Banking Stocks - The improvement in asset quality and stable profitability of banks has been highlighted as a key factor for the surge, with core earnings and net interest income showing signs of recovery [4][6]. - The influx of insurance capital into banking stocks is considered a major driver, as the decline in 10-year government bond yields has created an asset shortage, making bank stocks attractive due to their stability and dividend characteristics [4][5]. - The increase in public fund allocation to banking stocks, with the proportion rising from 3.72% to 4.00%, indicates a renewed interest in the investment value of banking stocks [5][6]. Group 2: Valuation and Performance Metrics - The banking sector's low valuation is also a contributing factor, with a static price-to-book (PB) ratio of 0.67, suggesting a significant safety margin compared to other industries [6][11]. - The average return of the top 20 banking stocks has reached 27.62%, with six stocks showing gains over 30% year-to-date, indicating strong performance across the sector [9][12]. - The dividend yield for several banks, such as Chongqing Bank and Changsha Bank, exceeds 6%, while some banks have yields below 3%, raising concerns about the perceived safety margin [10][11]. Group 3: Performance of Banking-Themed Funds - The banking-themed funds have also performed well, with the top 20 funds showing a minimum return of 19.08% year-to-date, and seven funds exceeding 20% [13][14]. - Notably, two funds managed by Liu Chongjie have achieved returns of 26.63% and 23.30%, benefiting from high dividend themes and the unique valuation dynamics of Hong Kong bank stocks [13][15].

Core Viewpoint - A-share listed banks have seen a significant increase in stock prices, with many reaching historical highs, driven by strong investor demand and improving fundamentals in the banking sector [1][2][3]. Group 1: Market Performance - On July 10, A-share indices closed higher, with the Shanghai Composite Index standing at 3509.68 points, up 0.48% [1]. - Among 42 listed banks, 34 saw their stock prices rise, contributing to a total market capitalization of 16.30 trillion yuan [1][2]. - The Industrial and Commercial Bank of China (ICBC) reached a market cap of approximately 2.88 trillion yuan, setting a new record [2]. Group 2: Dividend Distribution - A-share listed banks have entered a period of significant dividend distribution, with total cash dividends for 2024 expected to reach approximately 6209 million yuan [4]. - As of now, 31 banks have completed their 2024 annual dividend distributions, with a total of 3631.93 million yuan already announced [4]. Group 3: Investment Sentiment - Investor sentiment remains strong towards bank stocks, with a median dividend yield of around 4%, indicating potential for further capital inflow [1][3]. - Analysts suggest that the current high dividend yields and stable asset quality contribute to the attractiveness of bank stocks as a reliable investment [3][5]. Group 4: Global Context - The trend of rising bank stock prices is not limited to A-shares; global bank indices have also reached new highs, reflecting a broader macroeconomic environment favoring stable, dividend-paying assets [6]. - The global banking sector has seen significant increases in stock prices, with indices in various regions showing gains between 49% and 88% year-to-date [6]. Group 5: Future Outlook - Analysts predict that the positive performance of bank stocks may continue, supported by improved net interest margins and stable operating conditions [7]. - Factors such as the ongoing demand from various investment funds and the strategic adjustments by banks to enhance profitability are expected to sustain this trend [8].

Core Viewpoint - The banking sector in China is experiencing a notable increase in internal capital increases, reflecting growing confidence in the long-term value of banks as both executives and major shareholders actively participate in stock buybacks [1][2][3]. Group 1: Executive and Shareholder Actions - Several banks, including Huaxia Bank and Jiangsu Bank, have initiated or completed stock buyback plans, indicating a trend where bank executives and major shareholders are taking proactive steps to invest in their own companies [1][2]. - Huaxia Bank announced a voluntary buyback plan of at least 30 million yuan, although its implementation has been delayed due to market conditions [1][2]. - Jiangsu Bank's executives completed their buyback plan ahead of schedule, investing 24.28 million yuan, which is 121.39% of the planned minimum amount [1][2]. Group 2: Broader Industry Trends - Over ten banks, including Suzhou Bank and Chengdu Bank, have disclosed similar buyback plans in 2023, suggesting a widespread trend within the banking industry [1][2]. - The actions of bank executives and shareholders are interpreted as a signal of confidence in the banks' future performance and stock prices, as they are willing to invest their own funds and bear market risks [2][3]. Group 3: Market Reactions and Valuation - The stock buyback announcements have provided short-term support for stock prices, with Jiangsu Bank's stock rising by 0.74% following its announcement [5]. - The average price-to-book (PB) ratio for A-share banks is currently at 0.6, with some city commercial banks below 0.5, indicating that the banking sector is undervalued [5]. - The average dividend yield for the banking sector is 3.86%, making it attractive for long-term investors, especially in light of regulatory measures encouraging long-term capital inflows [4]. Group 4: Long-term Challenges - Despite the positive signals from buybacks, the banking sector faces deeper challenges, including narrowing net interest margins and asset quality issues that have not been fundamentally resolved [5][6]. - The effectiveness of buybacks in stabilizing stock prices may be limited if they do not coincide with improvements in operational efficiency and fundamental performance [5][6].

由新浪财经举办的2025年"金鼎奖·金融助力消费优秀案例"活动结果今日正式揭晓。在各单位的踊跃报 送下，共有14个具有示范意义的创新案例从众多参选作品中脱颖而出，涵盖消费场景创新、消费信贷创 新等五大领域。 以下为获奖机构名单： 消费场景创新类：农业银行《第三届"千城万店 农行汽车节"创新案例》、交通银行《交享惠十五分钟 消费支付生活圈》、浦发银行《"跑马嗨购节"深耕体育场景化营销》 《比肩同行﹣﹣景德镇：普惠之道》展示了景德镇作为千年瓷都，其手工制瓷产业在普惠金融支持下实 现转型升级。当地陶瓷企业通过中国工商银行普惠金融方案获得资金支持，不仅解决了生产扩张的流动 资金需求，更推动技术改进与品质提升，增强了产品市场竞争力。金融机构以"陶瓷贷"等创新产品精准 滴灌小微企业，既缓解了企业融资压力，又通过产业链赋能带动消费升级。这种"金融+文化+产业"的 模式，既守护了传统工艺，又激活了消费市场，彰显了普惠金融在促进特色产业发展、刺激区域消费增 长方面的双重价值，为实体经济与消费升级的良性循环提供了示范案例。 《金融普惠中国﹣﹣山海情》展现了厦门国际银行在普惠金融领域的创新实践。该行通过"山海特色"普 惠模式，针对 ...