人民财讯7月31日电，青岛银行（002948）7月31日晚间发布业绩快报，2025年上半年营业收入为76.62 亿元，同比增长7.5%；归母净利润30.65亿元，同比增长16.05%；基本每股收益0.53元。截至2025年6月 末，公司不良贷款率1.12%，比上年末下降0.02个百分点；拨备覆盖率252.80%，比上年末提高11.48个 百分点。 ...

[Key Financial Data and Indicators](index=1&type=section&id=I.%20Key%20Financial%20Data%20and%20Indicators%20for%20the%20First%20Half%20of%202025) In the first half of 2025, Qingdao Bank achieved robust performance growth with revenue up 7.50% and net profit attributable to shareholders up 16.05%, while total assets expanded by 7.69% and asset quality improved with non-performing loan ratio decreasing to 1.12% and provision coverage ratio increasing to 252.80% Key Financial Data and Indicators | Item | Jan-Jun 2025 (Thousand Yuan) | Jan-Jun 2024 (Thousand Yuan) | Change (%) | | :--- | :--- | :--- | :--- | | **Operating Revenue** | 7,662,414 | 7,128,085 | 7.50% | | **Net Profit Attributable to Parent Company Shareholders** | 3,064,683 | 2,640,917 | 16.05% | | **Basic Earnings Per Share (Yuan/share)** | 0.53 | 0.45 | 17.78% | | **Weighted Average Return on Net Assets (Annualized, %)** | 15.75% | 15.34% | Increased by 0.41 percentage points | | **Item** | **As of Jun 30, 2025 (Thousand Yuan)** | **As of Dec 31, 2024 (Thousand Yuan)** | **Change (%)** | | **Total Assets** | 743,027,546 | 689,963,033 | 7.69% | | **Equity Attributable to Parent Company Shareholders** | 46,078,064 | 43,932,381 | 4.88% | | **Non-Performing Loan Ratio (%)** | 1.12% | 1.14% | Decreased by 0.02 percentage points | | **Provision Coverage Ratio (%)** | 252.80% | 241.32% | Increased by 11.48 percentage points | [Explanation of Operating Performance and Financial Condition](index=2&type=section&id=II.%20Explanation%20of%20Operating%20Performance%20and%20Financial%20Condition) In the first half of 2025, the company adhered to its annual operating philosophy of 'professional enhancement, digital empowerment, system optimization, and distinctive drive,' actively implementing key financial initiatives to achieve simultaneous improvements in business scale, operating efficiency, and asset quality - The company fully implemented central, provincial, and municipal strategic deployments, committed to high-quality development, and further advanced key financial initiatives[5](index=5&type=chunk) [Steady Growth in Operating Scale](index=2&type=section&id=Steady%20Growth%20in%20Operating%20Scale) As of June 2025, the company's business scale steadily expanded, with total assets reaching **743.028 billion yuan**, a 7.69% increase from year-end, and customer loans and deposits growing by 8.14% and 7.90% respectively Operating Scale Growth | Item | As of Jun 2025 (Billion Yuan) | Growth Rate vs. Year-End (%) | | :--- | :--- | :--- | | **Total Assets** | 743.028 | 7.69% | | **Total Customer Loans** | 368.406 | 8.14% | | **Total Liabilities** | 695.944 | 7.89% | | **Total Customer Deposits** | 466.140 | 7.90% | [Robust Improvement in Profitability](index=2&type=section&id=Robust%20Improvement%20in%20Profitability) In the first half of 2025, the company's profitability significantly strengthened, with net profit attributable to parent company shareholders and operating revenue growing by 16.05% and 7.50% respectively, and basic earnings per share increasing by 17.78% to **0.53 yuan** Profitability Indicators | Indicator | First Half 2025 (Billion Yuan) | Year-over-Year Growth | | :--- | :--- | :--- | | **Net Profit Attributable to Parent Company Shareholders** | 3.065 | 16.05% | | **Operating Revenue** | 7.662 | 7.50% | | **Weighted Average Return on Net Assets (Annualized)** | 15.75% | Increased by 0.41 percentage points | | **Basic Earnings Per Share (Yuan)** | 0.53 | 17.78% | [Continued Improvement in Asset Quality](index=2&type=section&id=Continued%20Improvement%20in%20Asset%20Quality) As of June 2025, the company's asset quality continued to improve, with the non-performing loan ratio decreasing by **0.02 percentage points** to **1.12%**, and risk coverage strengthening as the provision coverage ratio increased by **11.48 percentage points** to **252.80%** Asset Quality Indicators | Indicator | As of Jun 2025 | Change vs. Year-End | | :--- | :--- | :--- | | **Non-Performing Loan Ratio** | 1.12% | Decreased by 0.02 percentage points | | **Provision Coverage Ratio** | 252.80% | Increased by 11.48 percentage points | [Reference Documents](index=2&type=section&id=III.%20Reference%20Documents) The reference documents for this performance express report include comparative balance sheets and income statements signed and sealed by the company's senior management, including the legal representative, president, vice president in charge of finance, and general manager of the finance department - Reference documents include comparative balance sheets and income statements signed and sealed by the bank's current legal representative and Chairman Mr. Jing Zailun, President Mr. Wu Xianming, Vice President in charge of finance Ms. Chen Shuang, and General Manager of the Planning and Finance Department Mr. Li Zhendong[7](index=7&type=chunk)

青岛银行（002948）公告，2025年上半年营业收入76.62亿元，同比增长7.50%；净利润30.65亿元，同 比增长16.05%。截至2025年6月末，资产总额7430.28亿元，同比增长7.69%；不良贷款率1.12%，比上年 末下降0.02个百分点；拨备覆盖率252.80%，比上年末提高11.48个百分点。 ...

证券之星消息，7月31日城商行板块较上一交易日下跌1.69%，青岛银行领跌。当日上证指数报收于 3573.21，下跌1.18%。深证成指报收于11009.77，下跌1.73%。城商行板块个股涨跌见下表： 从资金流向上来看，当日城商行板块主力资金净流入3.55亿元，游资资金净流出3.48亿元，散户资金净流 出672.91万元。城商行板块个股资金流向见下表： | 代码 | 名称 | 主力净流入(元) | 主力净占比 游资净流入 (元) | | 游资净占比 散户净流入(元) | | 散户净占比 | | --- | --- | --- | --- | --- | --- | --- | --- | | 601009 南京银行 | | 1.36亿 | 18.02% | -7561.65万 | -10.00% | -6062.50万 | -8.02% | | 600926 杭州银行 | | 8796.45万 | 7.39% | -6639.21万 | -5.58% | -2157.24万 | -1.81% | | 002966 苏州银行 | | 5001.57万 | 15.54% | -2207.49万 | -6.86% ...

Economic News - The International Monetary Fund (IMF) raised China's GDP growth forecast for 2025 by 0.8 percentage points to 4.8%, citing stronger-than-expected economic activity in the first half of 2025 and lower-than-expected tariffs between China and the US [1] - Jiangsu Province announced pricing for brain-computer interface medical services, with non-invasive adaptation fees set at 966 yuan per session and invasive implantation fees at 6,600 yuan per session [1] - China and the US held constructive trade talks in Stockholm, agreeing to extend the suspension of certain tariffs for 90 days [1] - The China Iron and Steel Association highlighted ongoing supply-demand imbalances in the steel industry, urging self-discipline and regional cooperation to maintain stable development [1] - The China Coal Transportation and Marketing Association reported that coal inventories are at historical highs, with key coal enterprises holding 102 million tons of coal at the end of June, a 51.9% year-on-year increase [1] - The Ministry of Commerce reported that foreign direct investment in China reached 423.23 billion yuan in the first half of 2025, with a 15.2% year-on-year decline [1] - Guangzhou's GDP grew by 3.8% year-on-year in the first half of 2025, with the primary, secondary, and tertiary industries contributing 112.34 billion yuan, 370.59 billion yuan, and 1,126.28 billion yuan respectively [1][4] Company News - Ideal Auto launched its first pure electric SUV, the Ideal i8, priced between 321,800 and 369,800 yuan, with deliveries starting on August 20 [5] - Dao's Technology signed a strategic cooperation agreement with Suzhou Nengsida Electronics and Guangdong Chipenson Technology to develop materials for humanoid robot components [5] - Wantong Intelligent Control entered an exclusive sales agreement with Shanghai Shenming Aosi Semiconductor Technology for smart model domain control boards [5] - Shijia Photon reported a 121.12% year-on-year increase in revenue to 993 million yuan, with net profit soaring 1712% to 217 million yuan [5] - Huajin Technology plans to acquire 12 million shares of Crystal Integration at 19.88 yuan per share, totaling approximately 2.4 billion yuan [5] Industry Analysis - Western Mining's half-year report showed a 26.59% increase in revenue to 31.619 billion yuan and a 15.35% rise in net profit to 1.869 billion yuan, indicating a new expansion cycle [6] - The company reported production increases across various minerals, with copper production rising by 7.65% to 91,800 tons and zinc production up by 18.61% to 62,900 tons [7] - The company’s smelting production also improved, with copper smelting rising by 49.94% to 182,200 tons [8] - The company maintained stable profitability, with a slight decrease in gross margin from 21.06% to 19.98% but an increase in ROE from 10.45% to 11.10% [9][10] - Future revenue projections estimate revenues of 56.03 billion yuan, 58.64 billion yuan, and 60.9 billion yuan for 2025-2027, with corresponding net profits of 3.84 billion yuan, 4.11 billion yuan, and 4.53 billion yuan [10]

证券之星消息，7月30日城商行板块较上一交易日上涨0.39%，苏州银行领涨。当日上证指数报收于 3615.72，上涨0.17%。深证成指报收于11203.03，下跌0.77%。城商行板块个股涨跌见下表： 从资金流向上来看，当日城商行板块主力资金净流出3679.61万元，游资资金净流出5601.63万元，散户 资金净流入9281.24万元。城商行板块个股资金流向见下表： 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成投资建议。 | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 002966 | 苏州银行 | 8.68 | 1.28% | 42.09万 | 3.65亿 | | 616009 | 江苏银行 | 11.46 | 1.24% | 127.78万 | 14.61亿 | | 600109 | 南京银行 | 11.74 | 1.03% | 39.60万 | 4.66亿 | | 001227 | 兰州银行 | 2.51 | 0.80% ...

Investment Rating - The report maintains a "Positive" investment rating for the banking sector [11]. Core Insights - The banking sector has completed its 2024 dividend distribution, with a shift towards 2025 where the expected dividend yield for quality city commercial banks is projected to rise to approximately 4.5% to 5.0% [2][6]. - After recent market adjustments, leading city commercial banks such as Chengdu Bank and Jiangsu Bank have seen their expected dividend yields rebound to 5.1% and 4.9%, respectively, making them attractive for investment [7]. - The average static dividend yield for state-owned banks in A-shares is 4.02%, which still offers a 230 basis points (BP) spread over the 10-year government bond yield [7][20]. Summary by Sections Dividend Distribution - As of July 28, 2024, all 42 listed banks in A-shares have completed their dividend distributions for the year [6]. - For 2025, the expected average dividend yields for state-owned banks, joint-stock banks, city commercial banks, and rural commercial banks are projected at 4.04%, 4.27%, 4.05%, and 3.94%, respectively [6]. Market Dynamics - Recent market sentiment has shifted, leading to a significant recovery in risk appetite, which has resulted in capital outflows and price adjustments in the banking sector [7]. - The stable performance of banks is supported by recent interim reports from Hangzhou Bank, Ningbo Bank, Qilu Bank, and Changshu Bank, all of which exceeded expectations [7]. Mid-term Dividend Planning - In 2024, 24 listed banks are expected to implement mid-term dividends, with several banks like China Merchants Bank, Changshu Bank, and Su Nong Bank announcing their first mid-term dividends [8]. - The timing of mid-term dividends is expected to be similar to the previous year, influencing the allocation rhythm within the sector [8]. Dividend Ratios - The overall dividend ratio for banks in 2024 is expected to increase compared to the previous year, with limited room for further increases in 2025 [9]. - Attention is drawn to banks like Hangzhou Bank and Qilu Bank, which may have incentives to raise their dividend ratios post-conversion of convertible bonds [9]. Valuation Recovery - The report expresses optimism regarding the valuation recovery of banking stocks, particularly favoring quality city commercial banks such as Hangzhou Bank, Jiangsu Bank, Qilu Bank, Chengdu Bank, Nanjing Bank, and Qingdao Bank [10]. - The report highlights that various capital sources, including insurance and state-owned capital, have been increasing their holdings in banking stocks, indicating a positive outlook for the sector [27].

Core Insights - The 2025 Fortune China 500 list shows a significant increase in the number of commercial banks, rising from 28 to 33, marking a record high [1] - Regional banks are demonstrating strong performance, reflecting the deep empowerment of China's regional economic development strategies [2] - State-owned and joint-stock banks remain the backbone of the banking sector, with total revenues of approximately $1.33 trillion and profits exceeding $266.2 billion, accounting for about 35% of the overall profits of the Fortune 500 [3] Commercial Banks Performance - The total revenue of the 33 commercial banks in the list reached approximately $1.33 trillion, with a combined profit of over $266.2 billion [3] - Major state-owned banks like ICBC, ABC, and CCB maintained stable rankings, with ICBC leading at $221.46 billion in revenue [3][4] - Joint-stock banks showed mixed results, with China Merchants Bank improving its ranking to 49th with $70.39 billion in revenue [3][4] Regional Banks Highlights - Regional banks such as Jiangsu Bank, Beijing Bank, and Ningbo Bank performed well, with Jiangsu Bank ranking 162nd with $21.88 billion in revenue [5] - Chengdu Bank emerged as the "progress king" in the banking sector, climbing 35 places to rank 324th with $6.56 billion in revenue [6][7] - New entrants like Guangzhou Rural Commercial Bank and Chengdu Rural Commercial Bank made notable debuts, ranking 354th and 383rd respectively [7] Strategic Insights - The performance of regional banks is attributed to their ability to align with local economic strategies, providing ample credit demand and diverse opportunities [2][7] - Continuous improvement in corporate governance and a focus on differentiated services are essential for regional banks to achieve long-term value growth [7]

Economic News - The Ministry of Industry and Information Technology proposed to formulate financial support guidelines for new industrialization, emphasizing the importance of value creation and industry governance [1] - The State Council issued a plan for a childcare subsidy system, providing annual subsidies of 3600 yuan per child for those under three years old starting January 1, 2025 [1] - The National Energy Administration emphasized the need for monitoring electricity supply and demand, aiming to establish a unified national electricity market by the end of the year [1] - Malaysia revised its 2025 economic growth forecast down to between 4% and 4.8%, with inflation expectations adjusted to 1.5%-2.3% [1] - China and the U.S. held trade talks in Sweden to implement previous agreements and promote bilateral economic relations [1] - The Guangdong Paper Industry Association called for resisting low-price competition and maintaining market order in the paper industry [1] - The China Federation of Logistics and Purchasing reported a stable growth in social logistics, with a total of 171.3 trillion yuan in the first half of the year, a 5.6% increase year-on-year [1] Company News - Zhonghua International plans to acquire 100% equity of Nantong Xingchen from Bluestar Group through a share issuance, with the valuation and transaction price yet to be determined [5] - Huahua Co., Ltd. intends to raise up to 586 million yuan through a private placement for automation and information technology upgrades in its production lines [5] - China Tungsten High-Tech plans to acquire machinery and land use rights from Minmetals Tungsten for 123 million yuan to enhance production capacity [5] - Jidian Co. announced the full production of its integrated green hydrogen and ammonia project, which includes 700 MW of wind power and 100 MW of solar power [5] - Rejing Bio developed a rapid test kit for Chikungunya virus antibodies, although it has not yet received regulatory approval for medical use [5][6] Industry Analysis - Western Mining (601168.SH) reported a 26.59% increase in revenue to 31.619 billion yuan and a 15.35% increase in net profit to 1.869 billion yuan for the first half of 2025, indicating a new expansion cycle [7] - The company achieved significant growth in the production of various minerals, including copper (9.18 million tons, +7.65%), zinc (6.29 million tons, +18.61%), and lead (3.51 million tons, +24.63%) [8] - The copper segment remains the core business, contributing 76% of revenue and 67% of gross profit, with a notable increase in both volume and price [8] - The company’s smelting production also saw improvements, with copper production rising by 49.94% to 182,200 tons in the first half of 2025 [9] - The company maintained stable profitability, with a slight decrease in gross margin from 21.06% to 19.98% but an increase in ROE from 10.45% to 11.10% [10][11] - Future revenue projections estimate 56.03 billion yuan in 2025, 58.64 billion yuan in 2026, and 60.9 billion yuan in 2027, with corresponding net profits of 3.84 billion yuan, 4.11 billion yuan, and 4.53 billion yuan [11]

Core Viewpoint - The banking sector in A-shares is experiencing a "small bull market" with 29 out of 42 listed banks showing gains as of July 28, driven by multiple positive factors and expected to present a structural market trend in the future [1][3][7] Group 1: Market Performance - On July 28, banks like Qilu Bank and Qingdao Bank saw significant intraday gains, with Qilu Bank rising over 5% and Qingdao Bank over 3% [1][3] - Year-to-date, the banking sector has shown a steady upward trend, with banks like Qingdao Bank, Shanghai Pudong Development Bank, and Xiamen Bank achieving over 30% gains [3][4] - Despite a brief fluctuation in July, the overall upward trend remains supported by low valuations and high dividend yields [3][4] Group 2: Fundamental Improvements - The banking sector's asset quality has improved significantly, with a decrease in non-performing loan ratios and stable provision coverage ratios [4][6] - The economic recovery expectations have alleviated net interest margin pressures, leading to a steady rebound in profitability [4][6] Group 3: Policy and Valuation Support - Regulatory support for the banking sector, including liquidity release and optimized regulatory assessments, has created a favorable external environment [4][5] - Long-standing low valuations of bank stocks, with price-to-book ratios generally below 1, are expected to undergo a correction as market risk appetite increases [4][5] Group 4: Capital Inflows - Continuous inflows of long-term funds, particularly from insurance capital seeking stable returns, have bolstered the banking sector [5][6] - The expansion of passive funds and foreign capital inflows since Q2 have further supported the upward movement of bank stocks [5][6] Group 5: Positive Feedback Loop - Rising bank stock prices enhance banks' financing capabilities, reducing equity financing costs and improving credit image [6][7] - The increase in core capital through convertible bonds can enhance banks' credit expansion capabilities, ultimately benefiting the real economy [7] Group 6: Future Outlook - Analysts predict a structural market trend for the banking sector, with a focus on banks with strong asset quality and profitability [7][8] - The second half of 2025 is expected to see a fluctuating upward trend in the banking sector, with particular attention on low-valuation banks and those with strong fundamentals [7][8]