一、召开会议基本情况 1.股东大会届次：2024年第一次临时股东大会。 2.股东大会召集人：本行董事会。本行第五届董事会第十七次会议审议通过 了《关于召开苏州银行股份有限公司2024年第一次临时股东大会的议案》。 3.会议召开的合法、合规性：本次股东大会的召开符合相关法律法规和本行 章程的规定。 | 证券代码：002966 | 证券简称：苏州银行 | 公告编号：2024-045 | | --- | --- | --- | | 转债代码：127032 | 转债简称：苏行转债 | | 苏州银行股份有限公司 关于召开 2024 年第一次临时股东大会的通知 本行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、误导性陈述或重大遗漏。 苏州银行股份有限公司（以下简称"本行"）2024年第一次临时股东大会定 于2024年9月20日下午召开，会议有关事项通知如下： 4.会议召开的日期、时间： （1）现场会议召开时间：2024年9月20日下午15:30。 （2）网络投票时间：通过深圳证券交易所交易系统进行网络投票的时间为 2024年9月20日上午9:15-9:25、9:30-11:30，下午13:00-15 ...

苏州银行股份有限公司 2024 年第一次临时股东大会会议材料 苏州银行股份有限公司 2024 年第一次临时股东大会会议材料 （股票代码：002966） 苏州银行股份有限公司 2024 年第一次临时股东大会会议材料 会议议程 召开时间：2024 年 9 月 20 日（星期五）下午 15:30 召开地点：苏州工业园区钟园路 728 号苏州银行大厦 4 楼会议 室 召集人：公司董事会 一、主持人宣布会议开始； 二、宣读股东大会会议须知； 三、审议各项议案，听取相关报告； 四、股东发言或提问； 五、报告现场出席会议的股东及股东代理人人数及其代表的有 表决权股份数量； 六、推选本次会议计票人、监票人； 七、投票表决； 八、与会代表休息（工作人员统计投票结果）； 九、宣布现场表决结果； 十、见证律师宣读法律意见书； 召开方式：现场会议+网络投票 十一、宣布会议结束。 苏州银行股份有限公司 2024 年第一次临时股东大会会议材料 会议须知 为维护全体股东的合法权益，确保本行股东大会顺利进行，根据 《中华人民共和国公司法》、《上市公司股东大会规则》及本行章程等 规定，特制订本须知： 一、为保证股东大会的严肃性和正常秩序，除出 ...

Investment Rating - The report maintains a "Buy" rating for Suzhou Bank (002966.SZ) with a current price of 7.01 CNY [1]. Core Views - Suzhou Bank demonstrated strong resilience in performance, achieving a revenue of 6.4 billion CNY in the first half of 2024, a year-on-year increase of 1.9%, and a net profit of 2.95 billion CNY, up 12% year-on-year [1][2]. - The bank's net interest margin (NIM) was 1.48%, showing a narrowing trend but with a deceleration in the rate of decline [2]. - Non-interest income grew by 12.5% year-on-year, accounting for 35% of total revenue, indicating a shift towards diversified income sources [2]. - The bank's asset quality remains stable, with a non-performing loan (NPL) ratio of 0.84% and a strong provisioning coverage ratio of 486.8% [3][4]. - The capital adequacy ratios are robust, with a core Tier 1 capital ratio of 9.4% and a total capital adequacy ratio of 14% [3][4]. Summary by Sections Financial Performance - Revenue for the first half of 2024 was 6.4 billion CNY, with a net profit of 2.95 billion CNY, reflecting a 12% increase year-on-year [1]. - The bank's net interest income and non-interest income growth rates were -3% and 12.5%, respectively, indicating a mixed performance in income sources [1][2]. Asset Quality - The NPL ratio stood at 0.84%, with a slight increase from the previous quarter, while the overdue loan ratio was 0.93% [3]. - The bank's provisioning coverage ratio was 486.8%, indicating strong risk mitigation capabilities [3]. Capital Adequacy - The core Tier 1 capital ratio was reported at 9.4%, with a total capital adequacy ratio of 14% [3][4]. - The bank has a 5 billion CNY convertible bond with a low conversion ratio, suggesting potential for capital enhancement [3]. Future Outlook - The bank's EPS forecasts for 2024-2026 are 1.45 CNY, 1.63 CNY, and 1.80 CNY, respectively, with a current price-to-book (PB) ratio of 0.59 [4]. - The report emphasizes the bank's strong growth potential in both corporate and retail banking sectors, supported by a favorable economic environment [4].

Investment Rating - The investment rating for Suzhou Bank is not explicitly stated in the provided documents, but the analysis indicates a positive outlook based on performance metrics and growth potential. Core Insights - Suzhou Bank reported a revenue of 6.388 billion yuan for the first half of 2024, representing a year-on-year growth of 1.88%, while the net profit attributable to shareholders reached 2.953 billion yuan, up 12.10% year-on-year [1] - The bank's total assets stood at 659.5 billion yuan at the end of the first half of 2024, reflecting a year-on-year increase of 13.7% [1] - The growth in corporate loans was particularly strong, with a year-on-year increase of 25.8%, indicating the bank's commitment to supporting the real economy [1] - The bank's non-interest income also showed significant growth, with a 12.5% increase year-on-year, contributing to the rapid growth in net profit [1] - The non-performing loan (NPL) ratio remained stable at 0.84%, indicating solid asset quality [1] Financial Performance Summary - Total revenue for Suzhou Bank is projected to grow from 11,762.96 million yuan in 2022 to 13,990.12 million yuan by 2026, with a compound annual growth rate (CAGR) of approximately 7.51% [2] - The net profit attributable to shareholders is expected to increase from 3,918.44 million yuan in 2022 to 6,342.44 million yuan in 2026, reflecting a CAGR of 10.65% [3] - The bank's earnings per share (EPS) is projected to rise from 1.07 yuan in 2022 to 1.73 yuan in 2026 [3] - The price-to-earnings (P/E) ratio is expected to decrease from 5.32 in 2022 to 4.05 in 2026, indicating potential undervaluation [3] Risk and Capital Adequacy - The bank's capital adequacy ratios are robust, with a core Tier 1 capital adequacy ratio of 9.43%, a Tier 1 capital adequacy ratio of 10.81%, and a total capital adequacy ratio of 13.95% as of the end of the first half of 2024 [1] - The bank's provision coverage ratio slightly decreased to 486.8%, but it remains at a high level, indicating strong risk mitigation capabilities [1]

Investment Rating - The investment rating for Suzhou Bank is not explicitly stated in the provided documents, but the analysis indicates a positive outlook based on performance metrics and growth potential. Core Insights - Suzhou Bank reported a revenue of 6.388 billion yuan for the first half of 2024, representing a year-on-year increase of 1.88%, and a net profit attributable to shareholders of 2.953 billion yuan, up 12.10% year-on-year [1] - The bank's total assets reached 659.5 billion yuan, growing by 13.7% year-on-year, with a notable increase in corporate loans by 25.8% [1] - The bank is focusing on key sectors such as government affairs, technology innovation, green finance, and inclusive finance to enhance service quality for the real economy [1] - Non-interest income showed strong growth, contributing to the rapid increase in net profit, with non-interest income reaching 2.24 billion yuan, up 12.5% year-on-year [1] Financial Performance Summary - Total revenue for Suzhou Bank is projected to grow from 11,762.96 million yuan in 2022 to 13,990.12 million yuan by 2026, with a compound annual growth rate (CAGR) of approximately 7.51% [2] - The net profit attributable to shareholders is expected to increase from 3,918.44 million yuan in 2022 to 6,342.44 million yuan in 2026, reflecting a growth rate of 11.76% in 2024 [3] - The bank's net interest margin was reported at 1.48%, with a slight decline of 4 basis points compared to the previous quarter [1] - The non-performing loan (NPL) ratio remained stable at 0.84%, indicating strong asset quality management [1] Growth Projections - The bank's net profit growth is forecasted at 11.76% for 2024, followed by 11.48% in 2025 and 10.65% in 2026 [3] - Earnings per share (EPS) is projected to rise from 1.07 yuan in 2022 to 1.73 yuan by 2026, with a corresponding decrease in price-to-earnings (P/E) ratio from 5.32 to 4.05 over the same period [3][12] - The bank's capital adequacy ratios remain robust, with a core tier 1 capital adequacy ratio of 9.43% as of mid-2024 [1]

Investment Rating - The investment rating for Suzhou Bank is "Buy" (maintained) [2] Core Views - Suzhou Bank's performance in the first half of 2024 shows stable growth in revenue and profit, with operating income at 6.4 billion yuan, a year-on-year increase of 1.9%, and net profit attributable to shareholders at 3 billion yuan, up 12.1% year-on-year [2][4] - The bank maintains excellent asset quality, with a non-performing loan (NPL) ratio of 0.84%, remaining stable compared to the previous quarter [2][4] - The bank's net interest margin has decreased to 1.48%, with interest income declining by 3.0% year-on-year [2][4] Financial Performance - Revenue and profit growth rates for the first half of 2024 are 1.9% and 12.1%, respectively, showing stability compared to Q1 [2] - Net interest income decreased by 3.0% year-on-year, while non-interest income from fees and commissions fell by 20% [2][4] - Other non-interest income increased significantly by 36.2%, driven by investment income and fair value changes [2][4] Asset Quality - The bank's asset quality remains robust, with a non-performing loan ratio of 0.84% and a focus on maintaining low levels of non-performing loans across various segments [2][4] - The NPL generation rate for the first half of 2024 is 0.38%, indicating a slight increase compared to the previous year [2][4] Balance Sheet - As of June 2024, total assets reached 659.5 billion yuan, with loans amounting to 325.1 billion yuan, reflecting a slight increase [3][4] - Total deposits reached 415.2 billion yuan, with a year-to-date increase of 51.4 billion yuan, indicating strong deposit growth [4] Investment Recommendation - Suzhou Bank is positioned as a high-quality regional city commercial bank with strong asset quality and profit growth, suggesting a favorable outlook for continued high-quality development [4]

Investment Rating - The investment rating for Suzhou Bank is "Buy" (maintained) [3][6][23] Core Views - Suzhou Bank's revenue and net profit showed stable growth in the first half of 2024, with revenue reaching 6.388 billion yuan (YoY +0.88%) and net profit attributable to shareholders at 2.953 billion yuan (YoY +12.10%) [6][8] - The bank's asset quality remains strong, with a non-performing loan (NPL) ratio of 0.84%, unchanged for four consecutive quarters, indicating effective risk management [8][19] - The report anticipates a slight decline in profit forecasts for 2024-2026 due to overall industry challenges, projecting net profits of 5.099 billion yuan, 5.754 billion yuan, and 6.497 billion yuan for the respective years [6][19] Financial Performance Summary - In Q2 2024, Suzhou Bank's revenue maintained a positive growth of 1.65% YoY, although net interest income decreased by 5.23% due to declining yields on interest-earning assets [6][7] - The bank's total assets reached 659.5 billion yuan, with a loan growth rate of 14.53%, reflecting a marginal slowdown [7][19] - Non-interest income for H1 2024 was 2.238 billion yuan, up 12.45% YoY, with Q2 showing a slight increase in fee and commission income [7][19] Asset Quality and Risk Management - The bank's asset quality is highlighted by a stable NPL ratio and a sufficient provision coverage ratio of 486.80%, ensuring a solid buffer against potential losses [8][19] - The report notes a slight increase in the attention rate to 0.88%, but overall risk remains manageable [8][19] Valuation Metrics - Current stock price corresponds to a price-to-book (PB) ratio of 0.5 for 2024 and 0.4 for 2026, indicating potential undervaluation given the bank's regional advantages and stable asset quality [6][19]

Investment Rating - The investment rating for Suzhou Bank is "Buy" (maintained) [3][6][23] Core Views - Suzhou Bank has shown stable growth in profitability with a continuous excellent asset quality. The bank's revenue for the first half of 2024 reached 6.388 billion yuan, a year-on-year increase of 0.88%, while the net profit attributable to shareholders was 2.953 billion yuan, up 12.10% year-on-year [6][8] - The bank's net interest margin for the first half of 2024 was 1.48%, a decrease of 4 basis points compared to the first quarter of 2024, primarily due to a decline in the yield on interest-earning assets [6][7] - The bank's asset quality remains strong, with a non-performing loan ratio of 0.84% as of the end of Q2 2024, unchanged for four consecutive quarters [8] Summary by Relevant Sections Financial Performance - In Q2 2024, Suzhou Bank's revenue maintained positive growth, with a year-on-year increase of 1.65%. However, net interest income decreased by 5.23% year-on-year due to a continuous decline in the yield on interest-earning assets [6][7] - The bank's total assets reached 659.5 billion yuan, a year-on-year increase of 13.66%, with loan growth marginally slowing to 14.53% [7][8] Profitability and Forecast - The bank's net profit for 2024-2026 is projected to be 5.099 billion, 5.754 billion, and 6.497 billion yuan respectively, with year-on-year growth rates of 10.83%, 12.85%, and 12.91% [6][19] - The current stock price corresponds to a price-to-book ratio of 0.5 for 2024 and 0.4 for 2026, indicating a favorable valuation considering the bank's regional advantages and stable asset quality [6][19] Asset Quality - The bank's non-performing loan ratio remained stable at 0.84%, with a marginal increase in the attention ratio to 0.88%. The coverage ratio for provisions was 486.80%, indicating a solid buffer against potential losses [8][19] - The bank's corporate loan non-performing ratio decreased to 0.64%, while the retail loan non-performing ratio increased to 1.33% [8][19]

Investment Rating - The report maintains a "Recommendation" rating for Suzhou Bank (002966) with a target price of 8.72 CNY [1]. Core Views - Suzhou Bank's asset quality remains robust, with a net profit growth exceeding 10% year-on-year. The bank reported a total operating income of 6.388 billion CNY for the first half of 2024, reflecting a year-on-year increase of 1.88%, and a net profit attributable to shareholders of 2.953 billion CNY, up 12.1% year-on-year [1][2]. - The bank's net interest margin has slightly declined, with a cumulative net interest margin of 1.48% for the first half of 2024, down 20 basis points from the beginning of the year. The non-performing loan ratio remained stable at 0.84% [1][2]. - The report highlights a slowdown in loan growth, particularly in retail loans, while deposit growth remains strong. The bank's loan growth rate decreased to 14.5% in Q2 2024, with new loans added amounting to 3.24 billion CNY, which is approximately 12 billion CNY less than the previous year [1][2]. - The bank's asset quality is described as excellent, with a provision coverage ratio of 486.8%, despite a slight increase in the attention rate to 0.88% [1][2]. Financial Summary - For 2024E, the total operating income is projected to be 12.037 billion CNY, with a year-on-year growth rate of 1.44%. The net profit attributable to shareholders is expected to reach 5.144 billion CNY, reflecting an 11.80% increase [2][10]. - The bank's price-to-earnings (P/E) ratio is projected to be 5.00 for 2024E, while the price-to-book (P/B) ratio is expected to be 0.60 [2][10]. - The non-performing loan ratio is forecasted to slightly improve to 0.82% in 2024E, with a provision coverage ratio of 482% [2][10].

Investment Rating - The investment rating for Suzhou Bank is maintained at "Neutral" [4][7]. Core Views - The bank's net profit for the first half of 2024 reached 2.95 billion yuan, a year-on-year increase of 12.1%, indicating a strong growth trajectory despite a slight decline in net interest margin [1]. - Non-interest income has shown significant growth, with other non-interest income increasing by 36% year-on-year, contributing positively to overall revenue growth [1]. - The bank's total assets grew by 13.7% year-on-year to 659.5 billion yuan, with loans and deposits increasing by 14.5% and 14.9% respectively, reflecting balanced growth [1]. Financial Performance Summary - **Revenue and Profit**: In H1 2024, the bank achieved operating income of 6.39 billion yuan, up 1.9% year-on-year, while net profit attributable to shareholders was 2.95 billion yuan, up 12.1% year-on-year [1][5]. - **Earnings Per Share (EPS)**: The diluted EPS for 2024 is projected at 1.38 yuan, with expected growth rates of 10.2%, 9.7%, and 9.5% for 2024, 2025, and 2026 respectively [1][5]. - **Return on Equity (ROE)**: The weighted average ROE for H1 2024 was 13.3%, a slight decrease of 0.4 percentage points year-on-year [1]. Asset Quality and Capital Adequacy - **Asset Quality**: The non-performing loan (NPL) ratio stood at 0.84% at the end of Q2 2024, unchanged from the beginning of the year, indicating strong asset quality [1][5]. - **Provision Coverage Ratio**: The provision coverage ratio was 487% at the end of Q2 2024, despite a decrease of 36 percentage points from the beginning of the year, still reflecting a high level of provisioning [1][5]. - **Capital Adequacy**: The core Tier 1 capital adequacy ratio was 9.43%, remaining stable compared to the beginning of the year [1].