民生银行10月31日大宗交易平台出现一笔成交，成交量80.00万股，成交金额312.80万元，大宗交易成交 价为3.91元。该笔交易的买方营业部为华泰证券股份有限公司总部，卖方营业部为华泰证券股份有限公 司北京苏州街证券营业部。 机构评级来看，近5日共有1家机构给予该股评级，预计目标价最高的是中金公司证券，10月31日中金公 司证券发布的研报预计公司目标价为6.40元。 据天眼查APP显示，中国民生银行股份有限公司成立于1996年02月07日，注册资本4378241.8502万人民 币。（数据宝） 10月31日民生银行大宗交易一览 | 成交量 | 成交金额 | 成交价格 | 相对当日收盘折 | 买方营业部 | 卖方营业部 | | --- | --- | --- | --- | --- | --- | | （万股） | （万元） | （元） | 溢价（%） | | | | 80.00 | 312.80 | 3.91 | 0.00 | 华泰证券股份有 | 华泰证券股份有限公司北京 | | | | | | 限公司总部 | 苏州街证券营业部 | （文章来源：证券时报网） 进一步统计，近3个月内该股累计发生6笔大宗交易 ...

Core Viewpoint - Minsheng Bank reported a significant increase in credit impairment losses for the first three quarters of 2025, indicating challenges in asset quality management and the need for enhanced risk control measures [3][4]. Group 1: Financial Performance - For the first three quarters of 2025, Minsheng Bank recorded credit impairment losses of 40.165 billion yuan, an increase of 8.827 billion yuan year-on-year, representing a growth rate of 28.2% [3]. - As of the end of September, the loan provision balance stood at 94.173 billion yuan, up by 1.044 billion yuan from the end of the previous year, with a provision coverage ratio of 143%, which is an increase of 1.06 percentage points year-on-year [3]. Group 2: Factors Influencing Credit Losses - The increase in credit impairment losses is attributed to external environmental factors, particularly a rise in credit risk associated with retail loans since the second half of 2024, despite a stabilization trend compared to the previous year [3]. - Minsheng Bank has intensified efforts in the recovery and disposal of non-performing loans, with a year-on-year increase of 7.1 billion yuan in the recovery of non-performing loans during the first three quarters [3]. Group 3: Outlook and Future Measures - Looking ahead, Minsheng Bank plans to enhance risk management capabilities and maintain strong efforts in the disposal of non-performing loans, expecting an increase in provision for the full year while aiming for overall stability in asset quality by year-end [3][4]. - The bank anticipates that the level of new non-performing loans will gradually stabilize in the fourth quarter, with specific focus on managing risks in small and micro loans as well as loans to the public rental and business service sectors [4].

Core Viewpoint - Minsheng Bank has launched the "CSI-Minsheng Bank ESG Technology Innovation Bond Index" to promote investment in technology innovation and ESG principles, aiming to enhance the activity of the tech bond market and support high-quality economic development [1] Group 1: Event Overview - On October 29, Minsheng Bank held a technology innovation bond exchange meeting in Beijing, attended by key executives from Minsheng Bank and the China Securities Index Company [1] - The event featured discussions on policies and market environments related to technology innovation bonds, with participation from industry experts and representatives from technology-focused enterprises [1] Group 2: Strategic Focus - Minsheng Bank has prioritized serving technology innovation as a key strategic focus, continuously innovating in its systems and products to support the growth of innovative enterprises with core technologies [1] - The bank aims to channel financial resources towards the forefront of technological innovation, reinforcing its commitment to the national development agenda [1] Group 3: Index Significance - The newly launched index integrates the growth dynamics of technology innovation with ESG investment concepts, selecting bonds that meet specific standards to guide funds towards high-quality issuers with both technological growth potential and social responsibility [1] - The index's application is expected to boost market activity for technology innovation bonds, facilitate investor participation, and provide better services to the real economy [1] Group 4: Future Plans - Minsheng Bank plans to leverage the launch of the index to continuously optimize its financial products and services, contributing to high-quality economic development [1]

Group 1 - On October 31, Minsheng Bank executed a block trade of 800,000 shares, with a transaction amount of 3.128 million yuan, accounting for 0.17% of the total trading volume for the day [1][2] - The transaction price was 3.91 yuan, which remained stable compared to the market closing price of 3.91 yuan [1][2]

Core Insights - Minsheng Bank reported a revenue of 108.509 billion yuan for the first three quarters of 2025, reflecting a year-on-year growth of 6.74% [1] - The net profit attributable to shareholders reached 28.542 billion yuan [1] Financial Performance - Net interest income for the first three quarters was 75.510 billion yuan, with a year-on-year increase of 2.40% [1] - Average interest-earning assets stood at 7,108.196 billion yuan, showing a year-on-year growth of 0.73% [1] - The net interest margin improved by 2 basis points to 1.42% [1] - Non-interest income totaled 32.999 billion yuan, marking a significant year-on-year increase of 18.20% [1] - Fee and commission income was 14.388 billion yuan, with a slight year-on-year growth of 0.70% [1] - Other non-interest income saw a substantial increase of 4.982 billion yuan, reflecting a growth rate of 36.55% [1]

Core Insights - Minsheng Bank reported a total operating income of 108.51 billion RMB for the first three quarters of 2025, representing a year-on-year increase of 6.74% [2][5] - The net profit attributable to shareholders decreased to 28.54 billion RMB, down 6.38% year-on-year [2][5] - In Q3 2025, the bank's operating income was 36.13 billion RMB, a 4.61% increase compared to the same period last year, while net profit fell by 10.61% to 7.16 billion RMB [2][5] Financial Performance - For the first three quarters, net interest income was 75.51 billion RMB, up 2.40% year-on-year, with an average net interest margin of 1.42%, an increase of 2 basis points [6] - Non-interest income reached 32.99 billion RMB, showing an 18.20% increase year-on-year, driven by growth in trading and capital market activities [6] - The bank's basic earnings per share were 0.14 RMB, a decrease of 12.50% compared to the previous year [3] Asset and Liability Management - Total assets reached 78,728.64 billion RMB, an increase of 0.74% from the end of the previous year, with loans and advances totaling 44,367.59 billion RMB, a slight decrease of 0.31% [4] - Total liabilities were 71,723.16 billion RMB, up 0.19%, with customer deposits amounting to 42,556.02 billion RMB, reflecting a 0.15% increase [4] - The bank's focus on optimizing asset structure has led to a stable growth in general loans, which increased by 898 million RMB [4] Retail Banking and Customer Growth - The bank's retail customer base grew to 141.52 million, a 5.38% increase year-on-year, with private banking clients increasing by 18.21% to 73,409 [7] - Total assets under management (AUM) for retail clients reached 32,255.93 billion RMB, a 9.48% increase from the previous year [7] - Mortgage loans saw a cumulative issuance of 84.18 billion RMB in the first three quarters, a significant year-on-year growth of 24.23% [8] Asset Quality - The total amount of non-performing loans was 65.86 billion RMB, with a non-performing loan ratio of 1.48%, slightly up by 0.01 percentage points [8] - The bank's provision coverage ratio improved to 143.00%, an increase of 1.06 percentage points from the previous year [8] - The bank continues to enhance risk management strategies and monitor key areas to prevent new risks from emerging [8]

Core Viewpoint - Minsheng Bank reported a year-on-year increase in operating income for the first three quarters of 2025, but a decline in net profit attributable to shareholders [1] Financial Performance - The operating income for the first three quarters was 108.509 billion yuan, representing a year-on-year growth of 6.74% [1] - The net profit attributable to shareholders was 28.542 billion yuan, showing a year-on-year decrease of 6.38% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 28.783 billion yuan, down 5.47% year-on-year [1] - The basic earnings per share were 0.59 yuan [1]

Core Viewpoint - Minsheng Bank, established in 1996 and listed in 2000, is China's first nationwide joint-stock commercial bank primarily initiated by private enterprises, holding a significant position in the financial sector [1] Financial Performance - As of Q3 2025, Minsheng Bank reported operating revenue of 108.51 billion yuan, ranking 5th among 9 companies in the industry, with the top competitor, China Merchants Bank, at 251.42 billion yuan [2] - The bank's net profit for the same period was 28.54 billion yuan, placing it 7th in the industry, with the leading bank, China Merchants Bank, achieving 114.54 billion yuan [2] Financial Ratios - The asset-liability ratio for Minsheng Bank in Q3 2025 was 91.10%, slightly lower than the previous year's 91.60%, but higher than the industry average of 91.55%, indicating stable debt repayment capability [3] - The gross profit margin was reported at 27.75%, down from 31.53% year-on-year, and below the industry average of 43.53%, suggesting a need for improvement in profitability [3] Executive Compensation - The chairman of Minsheng Bank, Gao Yingxin, received a salary of 3.35 million yuan in 2024, a decrease of 2.53 million yuan from 2023 [4] Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 13.07% to 319,400, while the average number of circulating A-shares held per shareholder decreased by 11.56% to 111,000 [5] - In the first half of 2025, Minsheng Bank achieved operating revenue of 72.38 billion yuan, a year-on-year increase of 7.83%, while net profit decreased by 4.87% to 21.38 billion yuan [5] Business Highlights - Key business highlights include significant growth in non-interest income, stable net interest income, and an accelerated focus on retail mortgage loans [5] - The bank's asset quality remains stable, with effective risk mitigation in the real estate sector and enhanced risk compensation capabilities [5] Future Projections - Forecasts for 2025-2027 indicate expected revenues of 140.18 billion, 142.39 billion, and 144.28 billion yuan, with net profits projected at 32.44 billion, 33.29 billion, and 34.26 billion yuan respectively [5]

Core Insights - Minsheng Bank reported a total operating income of 108.51 billion yuan for the first three quarters of 2025, an increase of 6.74% year-on-year, while net profit attributable to shareholders decreased by 6.38% to 28.54 billion yuan [1][2] Group 1: Financial Performance - The bank's net interest income reached 75.51 billion yuan, growing by 2.40% year-on-year, with an average daily earning assets of 7.11 trillion yuan, reflecting a 0.73% increase [1] - Non-interest income totaled 32.99 billion yuan, marking an 18.20% increase year-on-year, driven by a significant rise in other non-interest income, which grew by 36.55% [1] - The net interest margin improved by 2 basis points to 1.42% [1] Group 2: Asset and Liability Management - As of the end of Q3, total assets amounted to 78.73 trillion yuan, up 0.74% from the end of the previous year, while total liabilities increased by 0.19% to 71.72 trillion yuan [2] - The total amount of loans and advances decreased by 0.31% to 44.37 trillion yuan [2] - The bank's deposit balance rose by 0.15% to 42.56 trillion yuan [2] Group 3: Asset Quality - The total non-performing loans reached 65.86 billion yuan, with a non-performing loan ratio of 1.48%, slightly up by 0.01 percentage points from the end of the previous year [2] - The provision coverage ratio improved to 143.00%, an increase of 1.06 percentage points [2]

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分內容而產生或因倚 賴該等內容而引致之任何損失承擔任何責任。 中國民生銀行股份有限公司 CHINA MINSHENG BANKING CORP., LTD. （在中華人民共和國註冊成立的股份有限公司） （股份代號：01988） 海外監管公告 本公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條由中國民生銀行 股份有限公司（「本行」）作出。 茲載列本行在上海證券交易所網站及中國報章刊登之《中國民生銀行股份有限公 司第九屆董事會第十六次會議決議公告》，僅供參閱。 承董事會命 中國民生銀行股份有限公司 董事長 高迎欣 中國，北京 2025年10月30日 於本公告日期，本行執行董事為高迎欣先生、王曉永先生及張俊潼先生；非執行 董事為劉永好先生、史玉柱先生、宋春風先生、趙鵬先生、梁鑫傑先生及林立先 生；獨立非執行董事為曲新久先生、溫秋菊女士、宋煥政先生、楊志威先生、程 鳳朝先生及劉寒星先生。 证券简称：民生银行 A 股代码：600016 优先股简称：民生优 1 优 ...