2025年8月25日，四川金融监管局发布批复称，《交通银行（601328）股份有限公司四川省分行关于成 都大邑支行开业的请示》（交银川〔2025〕39号）收悉。根据法律、法规和国家金融监督管理总局颁布 的行政许可规章等有关规定，经审定，现批复如下： 一、同意交通银行股份有限公司成都大邑支行开业，营业场所为四川省成都市大邑县晋原镇富民路中段 1栋168-170号。 二、核准交通银行成都大邑支行业务范围为：经银行保险监督管理机构或其他有行政许可权的机构批准 并由上级行授权办理的业务。 三、交通银行成都大邑支行应当自四川金融监管局作出行政许可决定之日起10日内持相关手续到四川金 融监管局领取金融许可证，并及时到市场监管部门办理相关手续，在市场监管、税务登记等法定程序完 成后1个月内向四川金融监管局书面报告相关情况。 四、交通银行成都大邑支行应当自领取营业执照之日起6个月内开业。不能按期开业的，应在开业期限 届满前1个月向四川金融监管局提交开业延期报告。开业延期不得超过一次，开业延期的最长期限为3个 月。未在规定时限内开业的，交通银行政许可决定失效，由四川金融监管局办理开业许可注销手续，收 回金融许可证，并予以公告。 ...

Core Viewpoint - The strategic decision to establish the headquarters of the Bank of Communications (BoCom) in Shanghai is aimed at enhancing its role in supporting the city's development as a global financial center, leveraging its unique advantages in technology finance and cross-border financial services [1][2]. Group 1: Financial Market Participation - BoCom is actively participating in the construction of Shanghai's financial market, with its trading volumes in Bond Connect and Swap Connect ranking among the top in the market. In the first half of the year, BoCom was approved as a custodian and clearing bank for the Southbound Trading [1]. - The bank's cross-border trade financing balance increased by nearly 40% compared to the beginning of the year, reflecting its commitment to supporting domestic and international dual circulation [1]. Group 2: Comprehensive Financial Services - BoCom is enhancing its comprehensive financial services across various sectors, including equity, loans, bonds, leasing, and trust services, focusing on key customer groups in technology and cross-border trade [2]. - The bank has seen significant growth in equity investments in technology enterprises in Shanghai and led the underwriting of the first technology innovation bond in the interbank market for the city [2]. - As of June, BoCom has established 23 specialized branches for technology in Shanghai, aiming to better serve the city's leading industries and contribute to its development as a global innovation center [2]. Group 3: Future Plans - The senior management of BoCom plans to further implement central government policies under the guidance of financial management departments and local authorities, focusing on developing technology finance, cross-border finance, and offshore finance [2].

Core Viewpoint - The low interest rate environment is testing the operational management capabilities of major banks, with a focus on precise strategies, efficient execution, and stable growth becoming a key challenge for the industry [1] Financial Performance - In the first half of 2025, Bank of Communications (BoCom) demonstrated strong performance among the six major state-owned banks, with a net profit attributable to shareholders increasing by 1.61% year-on-year [3] - The bank's total assets reached 15.44 trillion yuan, growing by 3.59% compared to the end of the previous year [3] - The non-performing loan (NPL) ratio improved to 1.28%, with a provision coverage ratio of 209.56%, up by 7.62 percentage points from the end of the previous year [3] Asset Quality Improvement - BoCom disposed of 37.83 billion yuan in non-performing loans, a year-on-year increase of 27.9%, with substantial recoveries of 20.37 billion yuan, up 54.3% [3] Net Interest Margin - In the context of a general narrowing of interest margins across the banking sector, BoCom experienced the smallest year-on-year decline in net interest margin among the six major state-owned banks [4] Strategic Focus - The bank is strategically focusing on key sectors and regions, enhancing financial support for national strategies and key areas, while also deepening its engagement in the Shanghai market [6][8] - BoCom's loans in the Yangtze River Delta, Guangdong-Hong Kong-Macao Greater Bay Area, and Beijing-Tianjin-Hebei regions increased by 5.57% [7] Digital Transformation - BoCom is leading in digital transformation, with a focus on integrating technology and finance, achieving significant results in technology capability and application [9] - The bank's loans to core digital economy industries exceeded 286 billion yuan, with internet loans growing by 8.52% year-on-year [10] Dividend Policy - The bank's board approved a mid-term dividend distribution plan, proposing a cash dividend of 0.1563 yuan per share, totaling 13.811 billion yuan, which accounts for 30% of the net profit attributable to shareholders [11]

Investment Rating - The investment rating for the company is "Outperform the Market" [6] Core Views - The company's revenue growth has returned to positive territory, with a revenue of 133.368 billion yuan and a net profit attributable to shareholders of 46.016 billion yuan for the first half of the year, representing year-on-year growth of 0.77% and 1.61% respectively [1] - The company's total assets increased by 8.87% year-on-year to 15.44 trillion yuan, driven primarily by corporate lending [2] - The net interest margin for the first half of the year was 1.21%, with a narrowing decline compared to previous periods [3] - The overall asset quality remains stable, with a non-performing loan ratio of 1.28% and a provision coverage ratio of 209.56% as of June [3] Summary by Sections Financial Performance - The company achieved a revenue of 133.368 billion yuan and a net profit of 46.016 billion yuan in the first half of the year, with respective year-on-year growth rates of 0.77% and 1.61% [1] - The annualized weighted average ROE was 9.16%, a decrease of 0.13 percentage points year-on-year [1] - The company expects net profits for 2025-2027 to be 93.4 billion yuan, 96.5 billion yuan, and 100.5 billion yuan respectively, with corresponding year-on-year growth rates of -0.2%, 3.3%, and 4.1% [4] Asset Quality - The total assets grew by 8.87% year-on-year to 15.44 trillion yuan, with loans (excluding accrued interest) increasing by 8.84% to 9 trillion yuan [2] - The non-performing loan ratio was 1.28%, down 0.01 percentage points from the previous quarter, while the provision coverage ratio improved by 9.15 percentage points to 209.56% [3] Profitability Metrics - The net interest margin was reported at 1.21%, with a decline of 6 basis points compared to the previous year [3] - Non-interest income showed a slight increase of 0.02% year-on-year, totaling 48.121 billion yuan [3] - The company maintains a stable financial outlook with a current PE ratio of 7.4x and a PB ratio of 0.62x [4]

Group 1 - The company, Bank of Communications, announced an interim dividend of 1.563 yuan per 10 shares for the six months ending June 30, 2025 [1]

Group 1 - The company, Bank of Communications (03328), announced an interim dividend of 1.563 yuan per 10 shares for the six months ending June 30, 2025 [1]

免責聲明 EF002 | 香港 | | | --- | --- | | 代扣所得稅信息 | | | 股息所涉及的代扣所得稅 | 有待公佈 | | 發行人所發行上市權證/可轉換債券的相關信息 | | | 發行人所發行上市權證/可轉換債券 | 不適用 | | 其他信息 | | | 可就部分股息行使貨幣選擇權只適用於香港中央結算(代理人)有限公司。 | | | 發行人董事 | | | 於本公告發佈之日，本行董事為任德奇先生、張寶江先生、殷久勇先生、周萬阜先生、常保升先生*、廖宜建先生*、陳紹宗先生 *、穆國新先生*、艾棟先生*、羅小鵬先生*、石磊先生#、張向東先生#、李曉慧女士#、馬駿先生#、王天澤先生#及肖偉先生#。 | | | * 非執行董事 | | | # 獨立非執行董事 | | | 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因 | 公告全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 | | --- | --- | | | 股票發行人現金股息（可選擇貨幣）公告 | | 發行人名稱 | 交通銀行股份有限公 ...

EF001 免責聲明 | 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因 公告全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 | | | --- | --- | | 股票發行人現金股息公告 | | | 發行人名稱 | 交通銀行股份有限公司 | | 股份代號 | 03328 | | 多櫃檯股份代號及貨幣 | 不適用 | | 相關股份代號及名稱 | 不適用 | | 公告標題 （撤回公告表格EF001）建議派發截至2025年6月30日止六個月之中期股息 | | | 公告日期 | 2025年9月2日 | | 公告狀態 | 撤回股息公告 | | 更新/撤回理由 此表格已被 2025 年 9月 2日發佈的公告表格 EF002 取代。 | | | 已撤回之股息信息 | | | 股息類型 | 中期（半年期） | | 股息性質 | 普通股息 | | 財政年末 | 2025年12月31日 | | 宣派股息的報告期末 | 2025年6月30日 | | 宣派股息 | 每 10 股 1.563 RMB | | 股東批准日期 | 有 ...

Group 1 - The core viewpoint of the news is the successful implementation of the "currency bridge" cross-border remittance service by Bank of Communications Shanghai Branch in collaboration with Shanghai Bank, marking the first application of the mBridge in the Shanghai region [1] - The mBridge is a cross-border payment infrastructure initiated by multiple central banks, utilizing distributed ledger technology to facilitate real-time point-to-point transactions, significantly reducing settlement time and costs [1] - The collaboration between Bank of Communications and Shanghai Bank enhances the efficiency and cost-effectiveness of cross-border payment chains, contributing to the expansion of digital RMB applications in Shanghai [1] Group 2 - The future plans of Bank of Communications Shanghai Branch include further leveraging its role as a digital RMB operating institution to enrich interbank cooperation and optimize cross-border financial experiences [2] - The initiatives aim to inject new momentum into the construction of Shanghai as an international financial center and promote the internationalization of the RMB [2]

Investment Rating - The report maintains a "Buy" rating for the company [6][9]. Core Views - The company has shown signs of revenue improvement with a year-on-year increase of 0.77% in revenue and 1.61% in net profit attributable to shareholders for the first half of 2025 [2][6]. - Non-interest income has contributed positively to the revenue growth, indicating a potential upward trend in earnings [2][14]. - The asset quality has further improved, with a decrease in the non-performing loan ratio to 1.28% and an increase in the provision coverage ratio to 209.6% [5][29]. Financial Performance Summary - Revenue for the first half of 2025 was approximately 133.368 billion yuan, with net interest income accounting for 63.92% of total revenue [2][14]. - The net interest margin recorded was 1.21%, slightly down by 2 basis points from the previous quarter [17]. - The total interest-earning assets reached 14.92 trillion yuan, reflecting a year-on-year growth of 9.12% [4][24]. Asset and Liability Analysis - The total interest-bearing liabilities amounted to 12.04 trillion yuan, showing a year-on-year increase of 6.05% [4][28]. - The structure of interest-bearing liabilities indicates a significant reliance on deposits, which accounted for 74.78% of total liabilities [4][28]. - The company has seen a notable improvement in the cost of interest-bearing liabilities, with the average cost rate for deposits decreasing to 1.85% [3][17]. Non-Interest Income and Fee-Based Revenue - Non-interest income for the first half of 2025 was 48.121 billion yuan, with a slight year-on-year increase of 0.02% [2][23]. - The net fee and commission income was 20.458 billion yuan, reflecting a decrease of 2.58% year-on-year [3][23]. - Investment income decreased by 13.83% year-on-year, contributing 8.99% to total revenue [3][23]. Asset Quality and Provisioning - The non-performing loan ratio improved to 1.28%, with a provision coverage ratio of 209.6% [5][29]. - The company has increased its loan provision ratio to 2.68%, indicating a proactive approach to managing credit risk [5][29]. - The overall asset quality has shown resilience, with significant improvements in various sectors, particularly in corporate loans [30][31].