Group 1 - The market opened higher but retreated, with all three major indices turning negative during the session [1] - Bank stocks showed strong performance, with Industrial and Commercial Bank of China and Bank of China reaching new highs [1] - Lithium mining stocks remained active, with companies like Daway Co. and Weiling Co. hitting the daily limit up [1] Group 2 - Real estate stocks experienced notable movements near midday, with companies such as Shilianhang and I Love My Home also hitting the daily limit up [1] - In contrast, consumer stocks in the food and beauty care sectors declined, with Yike Food dropping over 10% [1] - Overall, there were more decliners than gainers, with nearly 3,300 stocks in the Shanghai, Shenzhen, and Beijing markets showing losses, and the morning trading volume reaching 1.12 trillion [1]

Group 1 - The A-share market has seen a significant increase, rising over 4% and reaching a historical high for the second consecutive day, with a market capitalization surpassing 20 trillion [1] - The banking ETF fund has increased by 1.85%, indicating strong investor interest in this sector [1] - The free cash flow ETF recorded a net subscription of 35.7 million, marking the ninth consecutive day of inflows, totaling 1.495 billion [1] Group 2 - The technology sector experienced a pullback after a strong performance, reflecting a shift in year-end funding towards stability and securing annual returns [3] - The probability of a Federal Reserve interest rate cut in December has decreased to 30%, alongside concerns about an AI bubble, leading to a decline in market risk appetite [3] - Weakening domestic credit and retail sales data for October have increased attention on public utilities, banking, and dividend sectors [3]

Core Viewpoint - The A-share market has seen a significant increase in bank stocks, with notable gains for major banks such as Bank of China and Industrial and Commercial Bank of China reaching historical highs [1] Group 1: Stock Performance - Bank of China has risen over 4%, while Postal Savings Bank and China Construction Bank have increased by more than 3% [1] - Other banks such as Minsheng Bank, Huaxia Bank, Everbright Bank, Nanjing Bank, and Bank of Communications have seen gains exceeding 2%, and Shanghai Pudong Development Bank and Industrial and Commercial Bank have risen over 1% [1] Group 2: Market Milestones - Bank of China and Industrial and Commercial Bank both reached historical highs during the trading session [1] - Year-to-date, Bank of China has accumulated a 19% increase, while Industrial and Commercial Bank has seen a 26% rise [1] - Industrial and Commercial Bank's market capitalization has surpassed Agricultural Bank of China, reclaiming the top position in the market [1]

Core Viewpoint - The strategic partnership between Industrial and Commercial Bank of China (ICBC) and Standard Bank Group has facilitated the participation of African businesses in the China International Import Expo for eight consecutive years, promoting high-quality economic and trade development between China and Africa [1][2]. Group 1: Strategic Cooperation - ICBC and Standard Bank Group have collaborated to invite and organize clients for various events during the expo, including a customer appreciation event and a themed supply-demand matching meeting for food and agricultural products [2]. - The partnership aims to leverage the expo as a high-level platform to enhance cooperation in the agricultural sector between China and Africa [2]. Group 2: Future Plans - ICBC plans to summarize the successful experiences from the expo and continue to utilize the strategic cooperation advantages with Standard Bank Group [2]. - The company aims to explore a regular trade negotiation mechanism between China and Africa, promoting deeper and more practical economic cooperation [2].

Core Viewpoint - The successful launch of the CIPS (Cross-Border Interbank Payment System) project by the Industrial and Commercial Bank of China (ICBC) in collaboration with Standard Bank Group marks a significant advancement for RMB clearing networks in Africa [1][2] Group 1 - ICBC has established a strategic partnership with Standard Bank Group, becoming the largest single shareholder and facilitating the direct participation of Standard Bank in CIPS [1] - The project aims to enhance the RMB clearing infrastructure in Africa, with a memorandum of cooperation signed during the China-Africa Economic and Trade Investment Forum [1] - The CIPS system at Standard Bank successfully went live, making it the first local bank in Africa to achieve direct participation in CIPS [2] Group 2 - The collaboration between ICBC and Standard Bank has led to the completion of system setups and the successful approval from the South African Reserve Bank for the CIPS system [2] - The first large RMB payment transaction has been completed, indicating the operational readiness of Standard Bank as a CIPS direct participant [2] - Future efforts will focus on strengthening the cross-border settlement and payment clearing system to support Sino-South African and Sino-African economic cooperation [2]

Core Viewpoint - The Industrial and Commercial Bank of China (ICBC) Liuzhou Branch has successfully implemented a reverse invoicing "Recycling Cloud" business for metal recycling, addressing compliance issues in the waste material recovery industry and significantly enhancing operational efficiency [1][2]. Group 1: Industry Development - The resource recycling industry is rapidly developing, with companies facing tax compliance challenges when purchasing waste materials from individuals who cannot provide VAT invoices [1]. - The State Administration of Taxation has announced a policy allowing resource recovery enterprises to issue reverse invoices, alleviating the tax burden caused by the inability to obtain initial invoices [1]. Group 2: Business Process Improvement - The reverse invoicing model requires recovery enterprises to pay for goods upfront, upload invoices to the tax system, and manually issue VAT invoices, resulting in a cumbersome process [1]. - ICBC has integrated the entire reverse invoicing process into the "Recycling Cloud" app, providing features such as invoice issuance, tax prepayment, and tax collection, creating a streamlined operation [2]. Group 3: Operational Efficiency - The new system allows enterprises to complete the entire financial process online with a single operation, significantly improving operational efficiency and reducing costs [2]. - Since its launch in September, ICBC has successfully implemented three "Recycling Cloud" projects and issued approximately 12,000 yuan in special invoices [2]. Group 4: Future Plans - ICBC Liuzhou Branch plans to deepen scenario exploration and extend digital financial services to enhance service quality and contribute to the high-quality development of the green circular economy in Liuzhou [2].

Core Insights - The Industrial and Commercial Bank of China (ICBC) Baise Branch is actively implementing the national strategy to support high-quality development in the manufacturing sector, focusing on regional characteristic industries and optimizing financial services [1][2] Group 1: Financial Performance - As of October 31, 2025, the manufacturing loan balance of ICBC Baise Branch reached 4.496 billion yuan, an increase of 2.264 billion yuan from the beginning of the year, representing a growth rate of 101.43% [1] Group 2: Support for Key Enterprises - The bank is enhancing strategic cooperation with key enterprises in the aluminum industry, such as Guangxi Huayin Aluminum and Guangxi Xinfeng Aluminum, by forming dedicated teams to assist with annual planning and financing needs [1] - The bank has provided over 4 billion yuan in efficient discounts for key clients in the aluminum industry this year, significantly optimizing cash flow and funding costs [1] Group 3: Expansion of Client Base - The bank aims to expand its client base among medium-sized manufacturing enterprises by collaborating with local departments to identify potential enterprises and industrial projects [2] - A "grid-based" approach is being employed to visit and engage with potential clients, establishing initial loan relationships and dynamically matching financing solutions as enterprises grow [2] Group 4: Support for Small and Micro Enterprises - The bank is addressing financing challenges for small and micro enterprises in the region, particularly those in aluminum processing and new aluminum-based materials, by offering tailored products like "Industrial e-loan" and "Innovation e-loan" [2] - Innovative collateral solutions are being explored, such as using warehouse receipts and equipment as guarantees, to overcome traditional mortgage barriers [2] Group 5: Future Outlook - ICBC Baise Branch plans to deepen its financial service mechanisms throughout the entire lifecycle of enterprises, continuously exploring innovative products and service models to support the transformation and upgrading of regional manufacturing and the high-quality development of the real economy [2]

据此，自2025年11月23日起，"工行优1"重置后的基准利率为1.58%，固定息差为1.56%，票面股息率为 3.14%，股息每年支付一次。 特此公告。 中国工商银行股份有限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。 根据《中国工商银行股份有限公司非公开发行优先股募集说明书》（简称《募集说明书》）的相关条 款，中国工商银行股份有限公司（简称本行）于2015年11月非公开发行的境内优先股（简称"工行优 1"，代码"360011"）采用分阶段调整的票面股息率定价方式，票面股息率为基准利率加固定息差，首5 年的票面股息率从发行日起保持不变，其后基准利率每5年重置一次，每个重置周期内的票面股息率保 持不变。固定息差等于本次优先股发行时票面股息率与基准利率之间的差值，其在存续期内保持不 变。"工行优1"从前次重置日起将满5年，根据《募集说明书》的相关条款，现对"工行优1"的票面股息 率进行再次重置。 重置后的票面股息率为本次境内优先股票面股息率重置日（即2025年11月18日，简称重置日）的基准利 率加固定息差。重置日的基准利率为重 ...

Core Viewpoint - The "Integrity and Prosperity" financing event organized by the Shenzhen Municipal Bureau of Commerce and the Industrial and Commercial Bank of China (ICBC) aims to enhance financial support for small and micro enterprises in Shenzhen, focusing on cross-border exports and consumer sectors, thereby promoting high-quality development of the real economy [2][3][11]. Financing Support - The event highlighted the introduction of various financial products tailored for small and micro enterprises, including "Fast Loan for Business," "Pengye Merchant Loan," and "Cross-border Loan," which aim to address the financing challenges faced by these businesses [3][4]. - As of October 2025, ICBC Shenzhen has provided over 77 billion yuan in financing support to more than 21,000 small and micro enterprises [4]. Integrated Service System - ICBC Shenzhen has established a comprehensive online and offline service system to enhance the accessibility of inclusive financial services, including 39 flagship outlets and 83 popularization outlets, reaching over 100,000 small and micro enterprises [5]. - The bank has developed a digital operation system for inclusive finance, enabling online loan applications and services available 24/7 [5]. Multi-Dimensional Financing Solutions - ICBC Shenzhen has launched specialized financing products based on the characteristics and needs of different types of small and micro enterprises, such as "Cross-border Loan" for import-export businesses and "Pengye Merchant Loan" for retail merchants [6][7]. - The bank offers post-loan services, including online renewal applications and a dedicated WeChat service channel for comprehensive support [7]. Knowledge and Technology Empowerment - The bank emphasizes the importance of knowledge transfer and technology support for small and micro enterprises, conducting training and consultations to help businesses grow [8]. - ICBC Shenzhen collaborates with external resources to provide access to patented technologies, enhancing the technological capabilities of small and micro enterprises [9]. Resource Integration and Networking - The bank is exploring innovative service models that combine digital and physical resources to help enterprises expand their networks and collaboration channels [10]. - ICBC Shenzhen has successfully facilitated numerous cross-border matchmaking events, providing opportunities for over 250 enterprises to engage in potential collaborations [10]. Future Outlook - As Shenzhen approaches the 45th anniversary of its economic special zone, ICBC Shenzhen aims to deepen cooperation with government and enterprises, enhancing the quality of financial services to support the high-quality development of the local economy [11].

11月18日金融一线消息，工商银行今日发布关于重置境内优先股"工行优1"票面股息率的公告。公告指出，根据《中国工商银行股份有限公司非公开发行优先股募集说明书》（简称《募集说明书 重置后的票面股息率为本次境内优先股票面股息率重置日（即2025年11月18日，简称重置日）的基准利率加固定息差。重置日的基准利率为重置日（不含）前20个交易日中国债券信息网或中央 据此，自2025年11月23日起，"工行优1"重置后的基准利率为1.58%，固定息差为1.56%，票面股息率为3.14%，股息每年支付一次。 责任编辑：曹睿潼 ...