PAB(SZ:000001) Xin Lang Cai Jing·2025-09-01 10:30Core Viewpoint - Ping An Bank held a significant roadshow event to discuss its development strategy and operational performance with domestic investors, addressing key questions regarding its financial metrics and business outlook [1] Financial Performance - In the first half of 2025, Ping An Bank's net commission and fee income was 12.7 billion yuan, a year-on-year decrease of 2.0%. The breakdown includes: - Settlement fee income of 1.9 billion yuan, up 3.9% - Agency and entrusted fee income of 3.1 billion yuan, up 7.6% - Credit card fee income of 6.4 billion yuan, down 0.1% - Other commission and fee income of 2.1 billion yuan, down 28.7% [1] Credit Card Business - As of June 2025, the number of credit card accounts reached 45.39 million, with total credit card spending amounting to 989.8 billion yuan in the first half of the year. The bank is focusing on acquiring high-quality customers and enhancing product offerings for different demographics [2] Digital Platform Operations - By June 2025, the registered users of the Ping An Pocket Bank APP reached 177.6 million, a 2.0% increase from the end of the previous year, with monthly active users at 38.75 million. The bank is improving user experience through enhanced service capabilities and digital offerings [2] Supply Chain Finance - In the first half of 2025, the financing amount for supply chain finance was 911.3 billion yuan, reflecting a year-on-year growth of 25.6%. The bank is leveraging technology to innovate its business model and enhance its digital supply chain finance capabilities [2] Asset Quality and Loan Recovery - In the first half of 2025, Ping An Bank wrote off 25.6 billion yuan in loans and recovered a total of 18.6 billion yuan in non-performing assets, with 97.5% of the recoveries being cash [3] Loan Issuance - The bank issued new loans of 239.8 billion yuan to four major infrastructure industries, a year-on-year increase of 19.6%, and 123.8 billion yuan to three emerging industries, up 16.7% [3] Institutional Sales - In the first half of 2025, the bank's bond sales through interbank channels reached 169.4 billion yuan, a significant increase of 79.0%, facilitated by collaboration among sales, investment banking, and trading teams [3] Wealth Management - Ping An Wealth Management, established in August 2020 with a registered capital of 5 billion yuan, reported total assets of 13.5 billion yuan and net assets of 13.2 billion yuan as of June 2025, achieving a net profit of 700 million yuan with managed wealth products totaling 1.16 trillion yuan [3]