开年股价表现“垫底” 10万亿浦发银行急抛“双增”业绩快报

Core Viewpoint - Shanghai Pudong Development Bank (SPDB) has reported positive growth in both revenue and net profit for the year 2025, despite its stock price lagging behind other A-share listed banks, indicating a potential recovery in performance but ongoing market skepticism about its risk profile [2][5][9]. Financial Performance - SPDB achieved a revenue of 1739.64 billion yuan in 2025, an increase of 1.88% compared to 2024 [4][5]. - The net profit attributable to shareholders reached 500.17 billion yuan, reflecting a growth of 10.52% year-on-year [4][5]. - The total assets of SPDB surpassed 10 trillion yuan, reaching 10.08 trillion yuan, marking a 6.55% increase from the previous year [4][5]. - The non-performing loan (NPL) ratio improved to 1.26%, down by 0.10 percentage points from the previous year [4][5]. Strategic Drivers - The bank's performance improvement is attributed to four main factors: enhanced service to the real economy, proactive asset-liability management, improved asset quality, and effective group collaboration focusing on digital transformation [6][7]. - The new management team, which took over in 2024, has implemented a strategic restructuring that has positively impacted SPDB's business recovery and growth [8][9]. Market Sentiment - Despite the positive financial results, SPDB's stock has underperformed, with a year-to-date decline of 6.99%, placing it at the bottom of the A-share bank performance rankings [2][9]. - Analysts suggest that while the recent performance report may stabilize the stock price in the short term, long-term recovery will depend on the bank's ability to continue demonstrating risk management and profitability [9][10].