Summary of Key Points Core Viewpoint - China Merchants Bank (招商银行) has shown a positive stock performance, reaching a near one-year high, and has announced a significant cash dividend for its shareholders [1]. Group 1: Stock Performance - As of June 27, 2025, China Merchants Bank's stock closed at 46.22 yuan, reflecting a 0.5% increase from the previous week's closing price of 45.99 yuan [1]. - The stock reached an intraday high of 47.88 yuan on June 26, 2025, marking its near one-year peak [1]. - The stock's intraday low was recorded at 45.43 yuan on June 23, 2025 [1]. - The bank's current total market capitalization stands at 1,165.661 billion yuan, ranking 1st among 9 in the joint-stock bank sector and 10th among 5,151 in the A-share market [1]. Group 2: Dividend Announcement - China Merchants Bank will hold its 2024 annual general meeting on June 25, 2025, to review and approve the profit distribution plan for 2024 [1]. - The bank will distribute a cash dividend of 2,000 yuan per share (including tax) to A-share shareholders and approximately 2,189.861 Hong Kong dollars per share (including tax) to H-share shareholders [1]. - The payment for H-share dividends is expected to be made around July 30, 2025, after tax deductions [1]. - The bank has provided details on how dividends will be distributed to investors holding A-shares and H-shares through respective stock exchanges [1].

Group 1 - The core viewpoint of the article is that China Merchants Bank (600036) has launched an action plan titled "Enhancing Quality and Efficiency to Return Value," which aims to improve investment value and shareholder return capabilities while promoting high-quality development [1] Group 2 - The action plan is a response to the Shanghai Stock Exchange's related special action initiatives [1] - The initiative focuses on enhancing the bank's overall performance and aligning with broader market expectations for quality growth [1]

A 股简称：招商银行 A 股代码：600036 公告编号：2025-036 2025 年 6 月 19 日，本公司召开第十二届董事会关联交易管理与消费者权益 保护委员会第十五次会议，全体委员审议并同意将《关于与招联消费金融股份有 限公司关联交易项目的议案》提交董事会审议。 2025年6月19日，本公司召开第十二届董事会独立董事第二次专门会议，全 招商银行股份有限公司 日常关联交易公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 重要内容提示： ● 本次关联交易无需提交股东大会审议。 ● 本次关联交易是本公司正常的授信业务，对本公司正常经营活动及财务 状况无重大影响。 一、日常关联交易基本情况 （一）日常关联交易履行的审议程序 根据国家金融监督管理总局《银行保险机构关联交易管理办法》、中国证券 监督管理委员会（简称中国证监会）《公开发行证券的公司信息披露编报规则第 26 号——商业银行信息披露特别规定》《上海证券交易所股票上市规则》，以 及招商银行股份有限公司（简称本公司）制定的《招商银行股份有限公司关联交 易管理办法 ...

1 加快重点区域分行发展，提升综合化国际 化水平，着力锻造新的竞争优势，不断优化业务结构、收入 结构，保持良好的盈利能力。 二、坚持现代公司治理机制，践行可持续发展理念，为 高质量发展提供坚实保障 一、聚焦价值创造，持续推动高质量发展 （一） 3 四、重视股东回报，持续为股东创造长期价值 4 2 三、加强投资者关系管理，持续提升信息披露水平 ...

A 股简称：招商银行 A 股代码：600036 公告编号：2025-035 招商银行股份有限公司 董事会决议公告 三、审议通过了《关于不良资产处置的议案》。 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 招商银行股份有限公司（简称本公司）于 2025 年 6 月 25 日以电子邮件方式 发出第十三届董事会第二次会议通知，于 6 月 27 日以书面传签方式召开会议。 会议应参会董事 13 名，实际参会董事 13 名。会议的召开符合《中华人民共和国 公司法》和《招商银行股份有限公司章程》等有关规定。 会议审议通过了以下议案： 一、审议通过了《招商银行股份有限公司"提质增效重回报"行动方案》， 详见上海证券交易所网站（www.sse.com.cn）、香港交易及结算所有限公司网站 （www.hkex.com.hk）和本公司网站(www.cmbchina.com)。 同意：13 票 反对：0 票 弃权：0 票 二、审议通过了《关于与招联消费金融股份有限公司关联交易项目的议案》。 关联董事王良回避表决。 同意：12 票 反对：0 票 弃 ...

Core Viewpoint - The article discusses the challenges faced by China Merchants Bank in managing shareholder returns, market value, and risk control, especially in light of past significant declines in stock price and market value [2][3]. Group 1: Historical Context and Lessons Learned - China Merchants Bank experienced two major declines in market value since its listing: a 76% drop during the 2008 global financial crisis and a 53% drop at the end of 2021 to 2022 [2]. - The management is urged to learn from these historical declines to avoid similar situations in the future [2][3]. Group 2: Risk Management Strategies - The bank aims to establish a fortress-like risk compliance management system, which includes fostering a prudent risk management culture, enhancing risk management capabilities, and ensuring the independence of risk management mechanisms [3]. - Key components of this system involve maintaining good asset quality, high provision coverage ratios, and capital adequacy ratios [3]. Group 3: Shareholder Value and Profitability - Since its listing in 2002, China Merchants Bank has distributed over 400 billion yuan in cash dividends, which is nearly five times the amount raised through initial public offerings [3]. - The management emphasizes the importance of creating sustainable shareholder value and maintaining profitability to ensure that stock prices eventually reflect the bank's true value [4]. Group 4: Key Takeaways for Management - The management identifies three main lessons: avoiding significant stock price fluctuations, effective risk control, and ensuring compliance and prudent operations starting from the top management level [4]. - Continuous and stable operations are essential for enjoying regulatory benefits and mitigating risks associated with the banking industry [4].

Core Viewpoint - The article emphasizes the importance of boosting consumption and investment efficiency to expand domestic demand, with a focus on various consumer segments and financial support initiatives by China Merchants Bank's Guangzhou branch [2]. Group 1: Consumer Support Initiatives - China Merchants Bank Guangzhou branch is enhancing personal consumption loan products to meet the needs of consumers, particularly in large purchases like automobiles and home appliances [3]. - The "Lightning Loan" product offers features such as instant approval and flexible repayment, aimed at reducing financing costs for consumers [3]. - The bank is actively promoting the "Lightning Loan·Renewal Plan" to support appliance replacement and home upgrades, alongside various consumer discounts and payment incentives [3]. Group 2: Support for Small and Micro Enterprises - The bank is increasing its services to small and micro enterprises, providing financing solutions through a comprehensive supply chain financial service system [4]. - Products like "Zhaolian Yidai" and "Jingxiao Yidai" are designed to support upstream and downstream enterprises, enhancing their access to financing [4]. - The bank is leveraging data-driven financing solutions to address the challenges faced by small and micro enterprises in securing funds [4]. Group 3: Elderly Financial Services - The bank is developing a pension financial brand to cater to the aging population, focusing on high-quality service paths for elderly clients [5]. - It offers a full-process service for the third pillar of personal pension systems, with a notable number of clients and contributions in the region [5]. - The bank has completed the renovation of 77 branches to improve accessibility for elderly customers, including home service mechanisms for those with mobility issues [5]. Group 4: Future Directions - The bank plans to continue enhancing inclusive financial services to support consumer upgrades, small enterprise growth, and the well-being of new urban residents [6].

招商銀行股份有限公司 CHINA MERCHANTS BANK CO., LTD. （於中華人民共和國註冊成立的股份有限公司） （H股股票代碼：03968） 支付H股股東2024年度末期股息 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，概不對因本公告全部或任何部份內容而產生或因倚 賴該等內容而引致之任何損失承擔任何責任。 招商銀行股份有限公司董事會 2025年6月26日 於本公告日期，本公司的執行董事為王良及鍾德勝；本公司的股東董事（非執行 董事）為繆建民、石岱、孫雲飛、朱立偉及黃堅；及本公司的獨立非執行董事為 李孟剛、劉俏、田宏啟、李朝鮮、史永東及李健。 招商銀行股份有限公司（「本公司」）於2025年6月25日召開了2024年度股東大會， 並審議通過了（其中包括）本公司2024年度利潤分配方案。本公司將向各自股權登 記日營業時間結束時登記在冊的A股股東及H股股東，按於股權登記日每股股份獲 現金分紅人民幣2.000元（含稅）的基準派發股息，A股股東將獲宣派股息為每股人 民幣2.000元（含稅）並將以人民幣支付，而根據中國人民銀行於本 ...

Group 1 - The core theme of the activities is "Protecting Customer Rights and Enjoying a Safe Life," aimed at enhancing financial literacy among consumers [1][9] - The activities include various offline events designed to educate different demographics, such as the elderly and children, about financial risks and fraud prevention [2][4][7] - The bank emphasizes the importance of community engagement and feedback, receiving high praise from participants for the effectiveness of the educational initiatives [2][5][9] Group 2 - Specific activities include lectures on preventing telecom fraud and identifying illegal financial products, particularly targeting the elderly population [2] - For children, the bank conducted financial education sessions that included lessons on recognizing currency and understanding online scams, fostering early financial awareness [4][5] - The bank collaborates with local law enforcement to provide real-world examples of fraud, enhancing the educational experience for corporate employees [7]

Group 1: Core Views - The net interest margin (NIM) of the banking industry in China has dropped to 1.43%, which is below the average non-performing loan (NPL) ratio of 1.51%, posing significant challenges for sustainable development in the banking sector [5][6][7] - The bank aims to maintain a leading position in NIM while ensuring it covers all costs and continues to create value in its asset and credit businesses [7] - The bank acknowledges past shortcomings in proactively engaging with ETF funds and plans to enhance its product offerings in the future [8][9] Group 2: Financial Investments - As of the end of the reporting period, the bank's financial investments amounted to 617.018 billion yuan, with a proportion of 16.65%, reflecting a gradual increase from previous years [3] - The increase in financial investment assets is attributed to proactive asset allocation and changes in the financing needs and market conditions [3][4] - The bank is focusing on low-risk, low-capital-consuming bonds due to the structural changes in financing and the need for stable returns [4] Group 3: Net Interest Margin - The bank's NIM was reported at 1.91% for Q1, down from 1.98% the previous year, indicating a continuing downward trend [6][7] - The bank's NIM is expected to face difficulties in returning to the 2%-3% range due to low loan yields and already low funding costs [7] - The bank is adapting to the low-interest-rate environment by accelerating its transformation in various areas, including internationalization and digitalization [7] Group 4: Fund Sales - The bank has recognized its past lack of foresight in the ETF market and is now working to correct this by expanding its range of fund products [8][9] - The bank has strengthened partnerships with leading asset management companies and improved its fund distribution capabilities [9] - Recent sales of newly launched public funds have shown promising results, indicating the bank's strong sales capabilities in the fund market [9]