管理层谈“反内卷”、下半年经营思路，华夏银行中期业绩会直击

Core Viewpoint - Huaxia Bank reported a decline in both revenue and net profit for the first half of 2025, with a focus on improving asset quality and responding to market conditions [1][2]. Financial Performance - For the first half of 2025, Huaxia Bank achieved operating income of 45.522 billion RMB, a decrease of 2.832 billion RMB or 5.86% year-on-year, with a narrowed decline compared to the first quarter [1]. - The net profit attributable to shareholders was 11.470 billion RMB, down by 0.990 billion RMB or 7.95% year-on-year, also showing a reduced decline from the first quarter [1]. Fair Value Changes and Losses - The bank's fair value change net income for the first half of 2025 was -0.186 billion RMB, which negatively impacted non-interest income and net profit, but showed significant improvement from the first quarter's loss of -2.473 billion RMB, a reduction of 92.5% [2]. Dividend Policy - Huaxia Bank plans to distribute a cash dividend of 1.00 RMB per share, totaling 1.591 billion RMB, considering shareholder returns and sustainable development [2]. Market Value Management - The bank has established a market value management system and disclosed a valuation enhancement plan aimed at improving operational efficiency, profitability, and shareholder returns [3]. Response to "Involution" Competition - Huaxia Bank is actively responding to the government's call to combat "involution" in competition by adhering to rational pricing and risk-based pricing to maintain market order and support the real economy [3][4]. Consumer Loan Subsidies - The implementation of consumer loan interest subsidies is expected to positively impact the growth of Huaxia Bank's consumer credit, with efforts to streamline processes and enhance customer service [4]. Strategic Focus for the Second Half of 2025 - The bank aims to maintain stability while pursuing innovation, focusing on improving business structure, optimizing resource allocation, and ensuring stable asset quality [5][6]. Asset Quality Management - As of the reporting period, Huaxia Bank's non-performing loan ratio was 1.60%, unchanged from the end of the previous year, with a provision coverage ratio of 156.67%, down by 5.22 percentage points [5][6].