Financial Performance - The company reported a significant increase in net profit for the first half of 2025, reaching RMB 30 billion, representing a year-on-year growth of 12%[2]. - The company's operating revenue for the first half of 2025 was RMB 169,969 million, a decrease of 1.72% compared to RMB 172,945 million in the same period of 2024[15]. - Net profit for the first half of 2025 was RMB 75,405 million, showing a slight increase of 0.03% from RMB 75,379 million in the first half of 2024[15]. - The net cash flow from operating activities increased by 24.29% to RMB 134,461 million compared to RMB 108,180 million in the first half of 2024[15]. - The annualized average return on total assets (ROAA) was 1.21%, down by 0.11 percentage points year-on-year[32]. - The annualized average return on equity (ROAE) was 13.85%, down by 1.59 percentage points year-on-year[32]. - The group achieved a non-interest net income of CNY 63.884 billion, a year-on-year decrease of 6.73%, accounting for 37.59% of total revenue, down 2.02 percentage points[160]. Asset Quality and Loans - The loan quality analysis shows a non-performing loan ratio of 1.5%, which is stable compared to the previous period[2]. - The non-performing loan ratio improved to 0.93% as of June 30, 2025, down from 0.95% at the end of 2024[22]. - The company's loan balance was RMB 3,089.69 billion, representing 43.42% of the total, with a non-performing loan (NPL) amount of RMB 28.65 billion and an NPL ratio of 0.93%, down 0.13 percentage points from the previous year[96]. - The total amount of overdue loans reached RMB 97,084 million, representing an increase of RMB 52.09 million from the previous year, with an overdue loan ratio of 1.36%[106]. - The company’s total non-performing loans were RMB 61,923 million, which is 0.92% of total loans and advances[99]. - The company’s consumer credit business reported an NPL amount of RMB 22.018 billion, an increase of RMB 1.345 billion year-on-year, with an NPL rate of 1.64%, up 0.10 percentage points year-on-year[175]. Capital Adequacy and Regulatory Compliance - The capital adequacy ratio stands at 13.5%, exceeding the regulatory requirement of 10.5%[2]. - The capital adequacy ratio as of June 30, 2025, was 18.56%, a decrease of 0.49 percentage points compared to the end of 2024[115]. - The core tier 1 capital adequacy ratio was 14.00%, down by 0.86 percentage points from the end of 2024[115]. - The company maintained compliance with capital and leverage ratio regulatory requirements throughout the reporting period[111]. Customer Growth and Engagement - User data indicates that the number of active retail banking customers has grown to 50 million, an increase of 15% compared to the previous year[2]. - The total number of retail customers reached 216 million, an increase of 2.86% from the end of the previous year[136]. - Monthly active users of the company's apps reached 121 million, enhancing customer service experience through AI technology[145]. - The number of wealth product holding customers reached 61.07 million, reflecting a growth of 4.90% year-on-year[181]. Strategic Initiatives and Investments - The company plans to expand its market presence in Southeast Asia, aiming for a 20% increase in overseas revenue by 2026[2]. - A strategic acquisition of a fintech startup was completed, expected to enhance the company's digital service capabilities and contribute an additional RMB 1 billion in revenue by 2025[2]. - The company has invested RMB 500 million in research and development for new technologies, focusing on AI and blockchain solutions[2]. - The company has implemented various marketing activities to boost consumption, particularly during holiday seasons and major e-commerce promotions[186]. Revenue Streams and Financial Products - The company's interest income from loans and advances was RMB 119.08 billion, a year-on-year decrease of 9.93%[38]. - The company's investment interest income was RMB 44.93 billion, a year-on-year increase of 8.05%[40]. - Wealth management commission and fee income increased by 11.89% to RMB 12,797 million from RMB 11,437 million year-on-year[58]. - The retail financial business generated a pre-tax profit of RMB 52.04 billion, a year-on-year increase of 1.64%, accounting for 58.53% of the group's total pre-tax profit[129]. Technology and Innovation - The company saved 4.75 million hours of labor through AI efficiency improvements, generating approximately 390 million CNY in economic benefits[151]. - The company launched a new product pricing management system, enhancing pricing management precision and intelligence[149]. - The cloud platform's overall availability exceeded 99.999%, supporting robust technology infrastructure[151]. - The company enhanced its AI capabilities to improve operational efficiency and customer experience, focusing on financial technology applications[186].

招商银行股份有限公司 2025 年半年度第三支柱报告 1.2 并表范围 根据《商业银行资本管理办法》相关规定，本集团资本监管指标计算范围 包括招商银行及其子公司。截至报告期末，本集团符合资本并表范围的子公司 包括：招商永隆银行、招银国际、招银金租、招银理财、招商基金、招商信诺 资管和招银欧洲。 CHINA MERCHANTS BANK CO., LTD. | | | | 1. | 引言 3 | | --- | --- | | 1.1 | 披露依据 3 | | 1.2 | 并表范围 3 | | 1.3 | 披露声明 3 | | 2. | 释义 4 | | 3. | 风险管理、关键审慎监管指标和风险加权资产概览 5 | | 3.1 | KM1 监管并表关键审慎监管指标 5 | | 3.2 | OV1 风险加权资产概况 6 | | 4. | 资本和总损失吸收能力的构成信息 8 | | 4.1 | CCA 资本工具和合格外部总损失吸收能力非资本债务工具的主要特征...8 | | 4.2 | CC1 资本构成 8 | | 4.3 | CC2 集团财务并表和监管并表下的资产负债表的差异 11 | | 5. | 信用风险 ...

每经AI快讯，8月29日，招商银行公告，2025年上半年营业净收入1699.23亿元，同比下降1.73%；归属 于本行股东的净利润749.3亿元，同比增长0.25%。 （文章来源：每日经济新闻） ...

招商银行：上半年净利润749.3亿元人民币。 ...

Core Insights - The core viewpoint of the reports indicates a mixed performance for China Merchants Bank, with a slight decrease in operating net income but a marginal increase in net profit attributable to shareholders. Financial Performance - Operating net income for the first half of 2025 was 169.92 billion RMB, a year-on-year decrease of 1.73% [1] - Net profit attributable to shareholders reached 74.93 billion RMB, reflecting a year-on-year increase of 0.25% [1] - Basic earnings per share stood at 2.89 RMB [1] - Net interest income was 106.09 billion RMB, showing a year-on-year growth of 1.57% [1] - Non-interest income amounted to 63.84 billion RMB, which is a year-on-year decline of 6.77% [1] - Annualized return on average total assets (ROAA) was 1.21%, down by 0.11 percentage points year-on-year [1] - Annualized return on average equity (ROAE) was 13.85%, down by 1.59 percentage points year-on-year [1] Asset Quality - As of the end of the reporting period, the group's non-performing loan balance was 66.37 billion RMB, an increase of 0.76 billion RMB compared to the end of the previous year [2] - The non-performing loan ratio was 0.93%, a decrease of 0.02 percentage points from the end of the previous year [2] - Provision coverage ratio stood at 410.93%, down by 1.05 percentage points from the end of the previous year [2] - Loan provision ratio was 3.83%, a decrease of 0.09 percentage points compared to the end of the previous year [2]

Core Insights - The core viewpoint of the article is that China Merchants Bank (03968.HK) reported a decline in net operating income for the first half of 2025, while net profit showed a slight increase, indicating mixed financial performance amid a challenging economic environment [1] Financial Performance - The group achieved net operating income of 169.923 billion yuan, a year-on-year decrease of 1.73% [1] - The net profit attributable to shareholders was 74.930 billion yuan, reflecting a year-on-year increase of 0.25% [1] - Net interest income reached 106.085 billion yuan, marking a year-on-year growth of 1.57% [1] - Non-interest income totaled 63.838 billion yuan, which is a year-on-year decline of 6.77% [1] - The annualized return on average total assets (ROAA) was 1.21%, down 0.11 percentage points year-on-year [1] - The annualized return on average equity (ROAE) was 13.85%, down 1.59 percentage points year-on-year [1] Asset and Liability Overview - As of the reporting period, total assets amounted to 12,657.151 billion yuan, an increase of 4.16% compared to the end of the previous year [1] - Total loans and advances reached 7,116.616 billion yuan, up 3.31% from the end of the previous year [1] - Total liabilities were 11,360.291 billion yuan, reflecting a growth of 4.05% year-on-year [1] - Customer deposits totaled 9,422.379 billion yuan, an increase of 3.58% compared to the end of the previous year [1] Loan Quality Metrics - The balance of non-performing loans was 66.370 billion yuan, an increase of 0.760 billion yuan compared to the end of the previous year [1] - The non-performing loan ratio stood at 0.93%, a decrease of 0.02 percentage points year-on-year [1] - The provision coverage ratio was 410.93%, down 1.05 percentage points from the end of the previous year [1] - The loan provision ratio was 3.83%, a decrease of 0.09 percentage points year-on-year [1]

实现净利息收入1,060.85亿元，同比增长1.57%;实现非利息净收入638.38亿元，同比下降6.77%;年化后归 属于本行股东的平均总资产收益率(ROAA)和年化后归属于本行普通股股东的平均净资产收益率(ROAE) 分别为1.21%和13.85%，同比分别下降0.11和1.59个百分点。 智通财经APP讯，招商银行(03968)发布2025年中期业绩，营业净收入1699.23亿元(人民币，下同)，同比 减少1.73%;归母净利润749.3亿元，同比增加0.25%;每股基本盈利2.89元。 报告期内，实现净利息收入1,060.85亿元，同比增长1.57%;实现非利息净收入638.38亿元，同比下降 6.77%;年化后归属于本行股东的平均总资产收益率(ROAA)和年化后归属于本行普通股股东的平均净资 产收益率(ROAE)分别为1.21%和13.85%，同比分别下降0.11和1.59个百分点。 截至报告期末，集团不良贷款余额663.70亿元，较上年末增加7.60亿元;不良贷款率0.93%，较上年末下 降0.02个百分点;拨备覆盖率410.93%，较上年末下降1.05个百分点;贷款拨备率3.83%，较上年末下降 ...

Financial Performance - The unaudited interim results for China Merchants Bank for the six months ended June 30, 2025, have been announced[3]. - For the first half of 2025, the company's operating income was RMB 169,923 million, a decrease of 1.73% compared to RMB 172,922 million in the same period of 2024[19]. - The pre-tax profit for the first half of 2025 was RMB 88,906 million, down 0.82% from RMB 89,641 million in the previous year[19]. - The net profit attributable to shareholders was RMB 74,930 million, reflecting a slight increase of 0.25% from RMB 74,743 million in the same period last year[19]. - Total assets as of June 30, 2025, reached RMB 12,657,151 million, representing a growth of 4.16% from RMB 12,152,036 million at the end of 2024[19]. - The total amount of loans and advances increased by 3.31% to RMB 7,116,616 million compared to RMB 6,888,315 million at the end of 2024[19]. - The average return on total assets decreased to 1.21%, down 0.11 percentage points from 1.32% in the same period last year[21]. - The company achieved a net operating income of RMB 169.923 billion, a year-on-year decrease of 1.73%[28]. - Net profit attributable to shareholders was RMB 74.930 billion, an increase of 0.25% year-on-year[24]. - Total assets reached RMB 12,657.151 billion, growing by 4.16% compared to the end of the previous year[24]. Risk Management - The report includes a detailed description of major risks and the measures taken to address them, as outlined in the risk management section[9]. - The company maintained a provision coverage ratio of 410.93%, despite a decrease of 1.05 percentage points from the previous year[25]. - The company implemented strict asset risk classification to accurately reflect asset quality, ensuring robust risk management practices[79]. - The company will continue to monitor macroeconomic changes and enhance risk management strategies to maintain overall asset quality stability in the second half of the year[156]. Loan Quality and Non-Performing Loans - The non-performing loan ratio improved to 0.93%, down from 0.95% in the previous year[21]. - The non-performing loan balance was RMB 66.370 billion, with a non-performing loan ratio of 0.93%, a decrease of 0.02 percentage points year-on-year[25]. - The company maintained a stable loan quality with a total of RMB 66.37 billion in non-performing loans, representing 0.93% of total loans[80]. - The company reported a total of RMB 348,737 million in discounted bills, with a negligible NPL ratio of 0.00%[91]. - The total amount of non-performing loans was RMB 66,370 million, representing an increase from RMB 65,610 million at the end of 2024[88]. - The retail loan non-performing loan generation amount was RMB 10.730 billion, an increase of RMB 4.301 billion year-on-year, while credit card new non-performing loans decreased by RMB 0.260 billion year-on-year[155]. Capital Adequacy and Regulatory Compliance - The core tier 1 capital adequacy ratio, tier 1 capital adequacy ratio, and total capital adequacy ratio were 14.00%, 17.07%, and 18.56%, respectively, all showing a decline compared to the end of the previous year[103]. - The company maintained compliance with capital and leverage regulatory requirements throughout the reporting period[99]. - The company's net core Tier 1 capital was RMB 921,977 million, an increase of 0.84% from RMB 914,275 million at the end of the previous year[109]. - The risk-weighted assets (RWA) increased by 8.25% to RMB 6,669,094 million from RMB 6,160,977 million at the end of the previous year[106]. Customer Deposits and Loans - As of June 30, 2025, the total amount of customer deposits reached RMB 9,422.38 billion, an increase of 3.58% compared to the end of the previous year, accounting for 82.94% of total liabilities[74]. - The total amount of corporate loans reached CNY 2,798.72 billion, an increase of 8.04% compared to the end of the previous year, accounting for 41.41% of total loans and advances[183]. - The average balance of customer deposits increased to RMB 9.040248 trillion, with interest expenses of RMB 56.519 billion, resulting in a cost rate of 1.26%[41]. - The company aims to strengthen customer acquisition and optimize deposit structure to maintain stable and high-quality deposit growth[151]. Wealth Management and Investment - The company has a strong commitment to environmental, social, and governance (ESG) practices, as detailed in the report[4]. - The total assets of the group's wealth management products reached CNY 2.46 trillion, maintaining a leading position in the banking wealth management industry[124]. - Wealth management commission and fee income increased by 11.89% to RMB 12,797 million from RMB 11,437 million year-on-year[47]. - The number of wealth management clients reached 61.07 million, an increase of 4.90% compared to the end of the previous year[166]. Digital Transformation and Innovation - The company launched 386 new financial technology innovation projects during the reporting period, with a total of 4,796 projects initiated to date[129]. - The company processed 548,600 paperless reimbursement requests, improving efficiency by 54.05% compared to traditional paper reimbursement methods[134]. - The overall availability of the cloud platform exceeded 99.999% during the reporting period, enhancing resource efficiency[136]. - The company is actively participating in the construction of the data factor market and public data development, enhancing data asset management capabilities[136]. Corporate Social Responsibility - The company is committed to social responsibility by integrating resources to meet comprehensive needs of entrepreneur clients, including wealth management and charitable services[168]. - The company aims to strengthen support for key areas such as technology finance, green finance, and inclusive finance to promote high-quality financial development[154].

证券时报·数据宝统计显示，招商银行今日收盘价为42.98元，下跌0.05%，日换手率为0.40%，成交额为 35.30亿元，全天主力资金净流出1.96亿元，近5日该股累计下跌1.13%，近5日资金合计净流出11.20亿 元。 招商银行8月28日大宗交易平台出现一笔成交，成交量5.70万股，成交金额242.82万元，大宗交易成交价 为42.60元，相对今日收盘价折价0.88%。该笔交易的买方营业部为光大证券股份有限公司宁波柳汀街证 券营业部，卖方营业部为光大证券股份有限公司宁波柳汀街证券营业部。 进一步统计，近3个月内该股累计发生9笔大宗交易，合计成交金额为47.28亿元。 两融数据显示，该股最新融资余额为87.10亿元，近5日增加6.44亿元，增幅为7.98%。（数据宝） 8月28日招商银行大宗交易一览 | 成交量 | 成交金额 | 成交价 | 相对当日收盘 | | | | --- | --- | --- | --- | --- | --- | | （万 | （万元） | 格 | 折溢价（%） | 买方营业部 | 卖方营业部 | | 股） | | （元） | | | | | 5.70 | 242.82 | 4 ...

| 交易日期 | 证券简称 | 证券代码 | 成交价(元) 成交金额(万元) 成交量( * ) 买入营业部 | | | | 卖出营业部 | | --- | --- | --- | --- | --- | --- | --- | --- | | 2025-08-28 | 招商银行 | 600036 | 242.82 42.6 | 5.7 | 光大证券股份有限 | 光大证券股份有限 | | | | | | | | 公司宁波柳汀街证 | 公司宁波柳汀街证 | | | | | | | | Jak stop 11 dary | Jald view 11 days | | 8月28日，招商银行大宗交易成交5.7万股，成交额242.82万元，占当日总成交额的0.07%，成交价42.6元，较市场收盘价42.98元折价0.88%。 ...