[Table_MainInfo] 行业研究/金融/银行 证券研究报告 行业周报 2025 年 02 月 17 日 [Table_InvestInfo] 投资评级 优于大市 维持 市场表现 [Table_QuoteInfo] -3.14% 5.18% 13.49% 21.80% 30.11% 38.43% 2024/1 2024/4 2024/7 2024/10 银行 海通综指 资料来源：海通证券研究所 相关研究 | [Table_ReportInfo] 《周报：1 月 LPR 维持不变，长期资金 | | --- | | 入市利好高股息板块》2025.01.27 | | 《周报：12 月社融数据公布，4 家银行全 | 年净利润均正增长》2025.01.20 《周报：央行暂停公开市场国债买入，2 万亿元置换债券发行工作已启动》 2025.01.13 分析师:董栋梁 Tel:(021)23185697 Email:ddl13206@haitong.com 证书:S0850523100001 周报：政府债券有力支撑社融，央行将择 机调整优化政策力度和节奏 [Table_Summary 投资要点：本周央行发布 2024 ...

Financial Performance - In 2024, Chengdu Bank achieved an operating income of RMB 22.977 billion, representing a year-on-year growth of 5.88%[3] - The net profit attributable to shareholders of the parent company reached RMB 12.863 billion, an increase of 10.21% compared to the previous year[3] - Basic earnings per share for the year were RMB 3.28, an increase of 8.97% from RMB 3.01 in the previous year[3] Asset and Equity Growth - Total assets at the end of 2024 amounted to RMB 1,250.081 billion, reflecting a growth of 14.56% from the beginning of the year[5] - The net assets attributable to ordinary shareholders of the parent company increased to RMB 79.851 billion, up 22.40% year-on-year[3] - The total share capital increased to 4.170 billion shares, a growth of 9.33% from the previous year[4] - The net asset per share attributable to ordinary shareholders of the parent company rose to RMB 19.15, an increase of 11.99% year-on-year[4] Loan Quality and Risk Management - The non-performing loan ratio improved to 0.66%, a decrease of 0.02 percentage points from the beginning of the year[4] - The provision coverage ratio was reported at 479.28%, down 25.01 percentage points compared to the previous year[4] Return on Equity - The weighted average return on equity decreased to 17.80%, down 0.98 percentage points from the previous year[3]

Financial Performance - In Q3 2024, the bank reported operating income of CNY 5,656,087 thousand, an increase of 1.14% year-over-year[5] - Net profit for Q3 2024 reached CNY 2,871,515 thousand, reflecting an increase of 11.26% compared to the same period last year[5] - The net profit attributable to shareholders of the parent company for the first nine months of 2024 was CNY 9,038,195 thousand, up 10.81% year-over-year[5] - The basic earnings per share for Q3 2024 was CNY 0.75, an increase of 10.29% compared to the same period last year[6] - The basic earnings per share for the first nine months of 2024 was CNY 2.37, an increase of RMB 0.21 compared to the previous year[15] - The total comprehensive income for the first nine months of 2024 was CNY 9,164,118 thousand, an increase from CNY 8,395,892 thousand in 2023[32] Assets and Liabilities - Total assets as of September 30, 2024, amounted to CNY 1,221,637,564 thousand, representing a growth of 11.95% from the end of 2023[6] - The bank's total liabilities increased by 12.22% year-over-year, reaching CNY 1,144,573,792 thousand[6] - The total equity attributable to shareholders of the parent company increased to CNY 76,978,802 thousand, up from CNY 71,235,227 thousand, marking a growth of 8.88%[31] Loans and Deposits - The total amount of loans and advances increased by 15.43% year-over-year, reaching CNY 722,312,222 thousand[6] - Total deposits amounted to RMB 874.672 billion, growing by RMB 94.251 billion, or 12.08% compared to the end of the previous year[15] - The total amount of loans and advances issued was CNY 722,312,222 thousand, an increase from CNY 625,742,219 thousand, reflecting a growth of 15.4%[21] Cash Flow - The bank's cash flow from operating activities showed a significant decline, with a net cash flow of -CNY 19,944,982 thousand, down 51.00%[6] - The net cash flow from operating activities for the first nine months of 2024 was negative CNY 19,944,982 thousand, an improvement from negative CNY 40,704,731 thousand in 2023[34] - The net cash flow from investment activities amounted to CNY 40,914,586, a significant increase from CNY 10,629,961 in the same period last year[35] Ratios and Coverage - The bank's return on equity (ROE) was 4.13%, a decrease of 0.06 percentage points compared to the previous year[6] - The company's non-performing loan ratio as of September 30, 2024, was 0.66%, a decrease of 0.02 percentage points from the end of the previous year[16] - The provision coverage ratio stood at 497.40% as of September 30, 2024[16] - The annualized return on assets was 1.04% for the first nine months of 2024, compared to 1.10% in the same period of 2023[18] - The cost-to-income ratio for the first nine months of 2024 was 24.75%, up from 24.15% in the same period of 2023[18] Capital and Liquidity - The core Tier 1 capital ratio improved to 8.40% as of September 30, 2024, compared to 8.22% at the end of 2023[22] - The liquidity coverage ratio increased to 267.34% from 203.19% year-over-year, indicating enhanced liquidity position[25] - The bank's net capital adequacy ratio stood at 13.40% as of September 30, 2024, compared to 12.89% at the end of 2023[22] Investment Activities - The bank's investment income for the first nine months of 2024 was CNY 3,080,809 thousand, up from CNY 2,560,489 thousand in 2023, indicating a strong performance in investment activities[31] - Cash inflow from investment income was CNY 8,675,039, down from CNY 8,948,955 year-over-year[35]

Financial Performance - Net profit for the first half of 2024 was RMB 3.5 billion, representing a year-on-year growth of 12%[8] - Operating income for the first half of 2024 reached CNY 11,585,057, an increase of 4.28% compared to CNY 11,109,888 in the same period of 2023[11] - Net profit for the first half of 2024 was CNY 6,167,267, reflecting a growth of 10.59% from CNY 5,576,447 in the first half of 2023[11] - Basic earnings per share for the first half of 2024 were CNY 1.62, an increase of 8.72% from CNY 1.49 in the same period of 2023[13] - Investment income increased by 38.43% to CNY 2.004 billion, driven by higher bond transfer income[45] - The bank's total assets reached RMB 1.2 trillion, an increase of 8% compared to the previous year[8] - Total assets as of June 30, 2024, amounted to CNY 1,200,305,422, a 9.99% increase from CNY 1,091,243,069 at the end of 2023[11] - Total liabilities increased by 10.41% to CNY 1,126,084,595 as of June 30, 2024, from CNY 1,019,923,459 at the end of 2023[11] - The bank's total equity as of June 30, 2024, was 74,220,827 thousand yuan, reflecting a 4.07% increase from the end of 2023[58] Asset Quality - The non-performing loan ratio improved to 1.5%, down from 1.7% in the same period last year[8] - The non-performing loan ratio improved to 0.66% as of June 30, 2024, down from 0.68% at the end of 2023[15] - The provision coverage ratio stood at 496.02% as of June 30, 2024, compared to 504.29% at the end of 2023[15] - The bank's loan-to-deposit ratio improved to 85.58% as of June 30, 2024, compared to 83.20% at the end of 2023, indicating better utilization of deposits[22] - The non-performing loan migration rate for normal loans was 0.35% in June 2024, a slight improvement from 0.38% at the end of 2023[22] - The total provision for loan losses at the end of the reporting period was CNY 23.16 billion, with a net increase of CNY 2.24 billion during the period[95] Customer Deposits and Loans - Customer deposits increased by 10% to RMB 900 billion, reflecting strong customer confidence[8] - The total amount of deposits received reached CNY 856,672,340 as of June 30, 2024, up 9.77% from CNY 780,421,289 at the end of 2023[11] - Total loans increased to CNY 707.75 billion, reflecting a growth of CNY 82.01 billion or 13.11% from the previous year[43] - The bank's total deposits reached CNY 856,672,340 as of June 30, 2024, reflecting a growth of 9.77% compared to the end of 2023[68] Digital Transformation and Innovation - The bank plans to expand its digital banking services, aiming for a 20% increase in online transactions by the end of 2024[8] - The bank's financial technology initiatives have been fully integrated, enhancing service efficiency and quality[40] - The mobile banking monthly active user count reached 1.28 million, reflecting improvements in digital channel services[35] - The company has launched standardized online financial products, enhancing efficiency through intelligent approval processes in its microfinance sector[31] Risk Management - The bank has no significant foreseeable risks, with effective measures in place to manage credit, market, and liquidity risks[3] - The bank's strategy focuses on strict control of new loans and resolution of existing loan risks, enhancing internal management and risk control capabilities[90] - The liquidity risk management framework includes a comprehensive risk management system with clear responsibilities across various committees, ensuring timely access to sufficient funds[117] - The company has implemented measures to reduce existing risks, including cash recovery, asset transfer, and write-offs of non-performing loans[115] Corporate Governance - The company appointed Xu Dengyi as the president, pending approval from the banking regulatory authority[134] - The company announced the election of new employee supervisors for the eighth supervisory board on June 13, 2024[134] - The company’s independent directors provided professional and objective advice to safeguard the interests of minority shareholders[137] - The company’s supervisory board is focused on auditing and compliance management to strengthen oversight functions[141] Environmental and Social Responsibility - The company has implemented measures to reduce carbon emissions, focusing on developing green credit business and directing credit resources towards low-energy, low-emission, and high-efficiency sectors[151] - The company reported no administrative penalties related to environmental issues during the reporting period[149] - The company donated CNY 101,000 to support poverty alleviation efforts in specific villages during the reporting period[152] - Agricultural loans increased by over 23% year-on-year, with a total agricultural loan balance reaching nearly CNY 60 billion by the end of June 2024[153] Market Position and Expansion - The bank received multiple awards for its market influence and innovation in financial services during 2023[10] - The bank is exploring potential mergers and acquisitions to enhance its market position in the Sichuan region[8] - The company has expanded its international business, focusing on cross-border financial services and enhancing its core customer base[35] - The company is actively exploring new strategies for market expansion and product innovation to meet diverse customer needs[130]

Financial Data and Key Indicator Changes - Chengdu Bank reported a year-on-year increase in operating income of 7.2% for 2023 and 6.3% for Q1 2024, with net profit attributable to shareholders increasing by 16.2% and 12.8% respectively [1][2] - The bank's net interest income accounted for over 80% of total revenue, with year-on-year growth of 6.9% in 2023 and 8.0% in Q1 2024 [1][2] - The cost-to-income ratio was 25.1% for 2023 and improved to 23.2% in Q1 2024, indicating stable operational efficiency [1][2] - Credit impairment losses decreased significantly by 37.7% in 2023 and 12.6% in Q1 2024, reflecting strong asset quality [1][2] Business Line Data and Key Indicator Changes - The bank's investment income and fair value changes increased by 38.8% in 2023 and 3.6% in Q1 2024, demonstrating robust performance in financial market operations [2] - Fee and commission income showed a decline of 2.25% in 2023 but rebounded with a 15.8% increase in Q1 2024, benefiting from improved market conditions [2] Market Data and Key Indicator Changes - Total assets and liabilities grew by 18.9% and 19.1% year-on-year in 2023, with continued expansion in Q1 2024, where total assets and liabilities increased by 8.0% and 8.3% respectively [2][3] - The non-performing loan (NPL) ratio decreased to 0.66% by the end of Q1 2024, down 0.02 percentage points from the previous year [1][3] Company Strategy and Development Direction - Chengdu Bank is focused on high-quality development, maintaining growth while improving asset quality and risk compensation capabilities [1][3] - The bank aims to strengthen its government business advantages and ensure stable profitability and dividends [3] Management's Comments on Operating Environment and Future Outlook - Management highlighted the importance of maintaining asset quality amid macroeconomic uncertainties and competitive pressures in the regional market [3] - The bank's risk compensation ability remains robust, with a provision coverage ratio of 503.8% as of Q1 2024, indicating strong resilience against potential credit losses [3] Other Important Information - The bank's EPS forecast for 2024 and 2025 has been adjusted to 3.33 yuan and 3.85 yuan respectively, with a new forecast for 2026 set at 4.46 yuan [3] - The target price for the bank's stock is set at 18.5 yuan, maintaining an "Accumulate" rating based on a target valuation of 0.95x PB for 2024 [3] Q&A Session Summary Question: What are the key factors driving the bank's growth? - Management emphasized the focus on net interest income and the recovery of fee income as key growth drivers, alongside effective cost management [3] Question: How does the bank plan to address potential risks in the current economic environment? - The bank plans to enhance its risk management strategies and maintain a strong capital position to navigate economic uncertainties [3]

上 市 公 司 银行 2024年04月25日 成都银行 (601838) 公 司 研 究 ——规模增长高景气，ROE 领跑行业 / 公 司 点 报告原因：有业绩公布需要点评 评 事件：成都银行披露2023年报及2024年一季报，2023年/1Q24实现营收217亿元/56亿 买入 （维持） 元，同比增长7.2%/6.3%；实现归母净利润117亿元/29亿元，同比增长16.2%/12.8%；1Q24 不良率季度环比下降2bps至0.66%，拨备覆盖率季度环比下降0.5pct至504%。 证 ⚫ 以利息净收入驱动营收实现5%以上的较快增长，尽管利润表现稍低于预期，但ROE继续 券 市场数据： 2024年04月24日 维持同业最好水平：2023/1Q24成都银行营收分别同比增长7.2%/6.3%（前瞻中预期分 研 收盘价（元） 14.24 别为8.5%/6.2%，9M23为9.6%），归母净利润分别同比增长16.2%/12.8%（前瞻中预 究 一年内最高/最低（元） 14.75/10.7 报 市净率 0.7 期分别为19%/15.8%，9M23为20.8%），2023年ROE维持近19%的同业最高水平。 告 息率（ ...

Investment Rating - Strong Buy (Maintained) [3] Core Views - The company's profitability is robust, and asset quality is solid, with continued optimism for regional dividend release [2] - The company's 2023 and 2024Q1 revenue were 21702 million yuan and 5638 million yuan, with year-on-year growth rates of 7.2% and 6.3% respectively [5] - Net profit attributable to the parent company for 2023 and 2024Q1 were 11671 million yuan and 2851 million yuan, with year-on-year growth rates of 16.2% and 12.8% respectively [5] - The company's 2023 ROE was 18.78%, a decrease of 0.7 percentage points year-on-year, while the annualized ROE for 2024Q1 was 17.04% [5] - Total assets at the end of 2023 were 1.09 trillion yuan, a year-on-year increase of 18.9%, and total assets for 2024Q1 were 1.18 trillion yuan, an increase of 8.01% from the beginning of the year [5] - The 2023 profit distribution plan is a dividend of 0.8968 yuan per share (tax included), with a dividend payout ratio of 30.05% [5] Financial Performance - The company's net interest income in 2024Q1 increased by 8.0% year-on-year, with a slight recovery in net interest income [6] - Non-interest income in 2024Q1 and 2023 decreased by 1.2% and increased by 8.8% year-on-year, respectively [6] - The net income from fees and commissions in 2024Q1 increased by 15.8% year-on-year, while it decreased by 2.3% in 2023 [6] - The company's net interest margin in 2023 was 1.81%, with both asset and liability sides contributing to the drag on the net interest margin [7] - The loan yield at the end of 2023 was 4.61%, and the deposit cost rate was 2.23% [7] - The company's net interest margin in 2024Q1 increased by 4 basis points to 1.65% compared to 2023Q4 [7] Asset Quality and Expansion - The company's total assets at the end of 2024Q1 and 2023 increased by 19.6% and 18.9% year-on-year, respectively, with loan growth rates of 27.0% and 28.3% [9] - The proportion of corporate loans at the end of 2024Q1 increased by 1.72 percentage points to 82.0% compared to the end of 2023 [9] - The company's deposit growth rates at the end of 2024Q1 and 2023 were 16.8% and 19.2%, respectively [9] - The non-performing loan ratio at the end of 2024Q1 and 2023 were 0.66% and 0.68%, respectively, showing a continuous improvement trend [9] - The company's non-performing loan generation rate at the end of 2023 was 0.16%, maintaining a low level [9] - The company's provision coverage ratio and provision-to-loan ratio at the end of 2024Q1 were 504% and 3.33%, respectively, with absolute levels expected to remain leading in the industry [9] Future Outlook - The company is expected to benefit from the regional resource endowment, with potential for continued dividend release [9] - The company's EPS for 2024-2026 is expected to be 3.46 yuan, 3.96 yuan, and 4.55 yuan, respectively, with profit growth rates of 13.1%, 14.3%, and 15.1% [9] - The company's PB for 2024-2026 is expected to be 0.73x, 0.64x, and 0.56x, respectively [9] - The company's valuation premium is expected to continue and rise, supported by its high growth potential and asset quality advantages [9]

Financial Performance - As of the end of 2023, Chengdu Bank's total assets reached RMB 1,091.243 billion, making it the first city commercial bank in the western region to exceed RMB 1 trillion in asset size[18]. - Operating income, operating profit, and net profit exceeded RMB 21 billion, RMB 16 billion, and RMB 11 billion respectively, with a weighted average return on equity of 18.78%[18]. - In 2023, Chengdu Bank reported operating income of CNY 21,702,189 thousand, an increase of 7.22% compared to CNY 20,241,312 thousand in 2022[36]. - The net profit for 2023 reached CNY 11,671,933 thousand, reflecting a growth of 16.22% from CNY 10,043,073 thousand in 2022[36]. - The bank's basic earnings per share for 2023 was CNY 3.01, representing an increase of 11.90% from CNY 2.69 in 2022[38]. - Total profit amounted to 13,892,333 thousand yuan, up 18.93% from 11,681,213 thousand yuan in 2022[25]. - The asset profit margin for 2023 is 1.16%, slightly down from 1.19% in 2022[40]. - The cost-to-income ratio increased to 25.09% in 2023 from 24.39% in 2022[40]. Asset and Liability Management - The total amount of loans and advances increased by 28.27% to CNY 625,742,219 thousand in 2023, compared to CNY 487,826,670 thousand in 2022[36]. - The bank's total liabilities increased by 19.12% to CNY 1,019,923,459 thousand in 2023, compared to CNY 856,224,024 thousand in 2022[36]. - The bank's net assets attributable to shareholders reached CNY 71,235,227 thousand, up 16.13% from CNY 61,342,713 thousand in 2022[36]. - Total deposits reached 780,421,289 thousand yuan in 2023, up from 654,652,022 thousand yuan in 2022, marking an increase of approximately 19.2%[50]. - Total loans and advances increased to 625,742,219 thousand yuan in 2023, compared to 487,826,670 thousand yuan in 2022, representing a growth of about 28.3%[50]. Credit Quality and Risk Management - The non-performing loan ratio was 0.68%, marking eight consecutive years of decline, with a provision coverage ratio of 504.29%[18]. - The non-performing loan ratio improved to 0.68% in 2023, down from 0.78% in 2022[40]. - The provision coverage ratio remained strong at 504.29% in 2023, compared to 501.57% in 2022[40]. - The bank's focus on risk management has led to a decrease in the proportion of non-performing loans from 0.84% in 2023 compared to 0.78% in 2022[153]. - The bank has implemented measures to enhance credit risk management, including optimizing credit risk management structure and improving personnel training[185]. Digital Transformation and Innovation - Digital channel business transaction volume accounted for 99%, with mobile banking monthly active users growing nearly 30% year-on-year[23]. - The bank's digital transformation projects are being implemented, with significant improvements in operational efficiency[23]. - The monthly active users of the mobile banking app reached 1.1735 million by the end of the reporting period[79]. - The company successfully launched its first gold swap transaction, enhancing its product offerings[78]. Corporate Governance and Community Engagement - The board proposed a cash dividend of RMB 8.968 per 10 shares, totaling RMB 3.4203 billion, which accounts for 30.05% of the net profit attributable to shareholders[7]. - The bank's corporate culture initiatives have reached over 70 million internet visits, promoting community engagement and financial education[24]. - The bank has established a standardized wealth advisory service system, with steady growth in fund distribution business[22]. Market Position and Recognition - Chengdu Bank's ranking in the "Global 1000 Banks" list by The Banker reached 181, marking a continuous two-digit rise for six consecutive years[18]. - The bank received multiple awards in 2023, including recognition as the "Best Growing Listed Bank" and "Best Mobile Banking" by various financial institutions[32]. Green Finance and Sustainable Development - The proportion of green loans has been continuously increasing, successfully qualifying as one of the first local financial institutions in the country to support carbon reduction tools[23]. - The bank is focused on supporting green, low-carbon, and circular economy developments, enhancing financial services for key industries[72].

Financial Performance - The total operating income for Q1 2024 was CNY 5,638,180, representing a 6.27% increase compared to CNY 5,305,353 in Q1 2023[8] - Net profit for Q1 2024 reached CNY 2,851,129, marking a 12.87% increase from CNY 2,525,931 in Q1 2023[8] - Basic earnings per share for Q1 2024 were CNY 0.75, up 10.29% from CNY 0.68 in Q1 2023[9] - Net profit attributable to shareholders was RMB 2.85 billion, up RMB 0.32 billion, or 12.83% year-on-year[22] - Operating income for the period was RMB 5.64 billion, a year-on-year increase of RMB 0.33 billion, or 6.27%[22] - Net interest income rose to CNY 4,629,922 thousand in Q1 2024, an increase of 8.0% from CNY 4,285,107 thousand in Q1 2023[47] Assets and Liabilities - The total assets as of March 31, 2024, amounted to CNY 1,178,625,991, reflecting an 8.01% increase from CNY 1,091,243,069 at the end of 2023[9] - The total liabilities increased to CNY 1,104,030,440, an 8.25% increase from CNY 1,019,923,459 at the end of 2023[9] - Total assets reached RMB 1,178.63 billion, an increase of RMB 87.38 billion, or 8.01% year-on-year[22] - Total deposits amounted to RMB 834.59 billion, up RMB 54.17 billion, or 6.94% year-on-year[22] - Total loans increased to RMB 690.95 billion, rising RMB 65.21 billion, or 10.42% year-on-year[22] Cash Flow - The net cash flow from operating activities was negative CNY 975,242, a significant decrease of 95.26% compared to negative CNY 20,587,575 in the same period last year[8] - In Q1 2024, Chengdu Bank reported a net cash flow from investment activities of CNY 12,947,456 thousand, an increase from CNY 7,022,894 thousand in Q1 2023[54] - The bank's cash inflow from financing activities reached CNY 80,743,251 thousand, up from CNY 58,946,706 thousand in the same period last year[54] - The net change in cash and cash equivalents for Q1 2024 was CNY 34,010,027 thousand, compared to CNY 29,348,714 thousand in Q1 2023[54] - The ending balance of cash and cash equivalents as of March 31, 2024, was CNY 74,529,966 thousand, significantly higher than CNY 47,279,959 thousand at the end of Q1 2023[54] Risk Management - Non-performing loan ratio improved to 0.66%, a decrease of 0.02 percentage points from the previous year[23] - Provision coverage ratio stood at 503.81%, indicating strong risk management[23] - The non-performing loan ratio as of March 31, 2024, is 0.66%, down from 0.68% at the end of 2023[26] - The provision coverage ratio stands at 503.81%, compared to 504.29% at the end of 2023[26] - The bank's credit impairment losses decreased to CNY 895,616 thousand in Q1 2024 from CNY 1,025,175 thousand in Q1 2023, indicating improved asset quality[47] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 47,513[16] - The bank's total equity increased to CNY 74,595,551 thousand as of March 31, 2024, up from CNY 71,319,610 thousand at the end of 2023, representing an increase of approximately 4.0%[45] Future Plans - The company plans to acquire property for headquarters use from a related party, with a transaction amount not exceeding RMB 1.82 billion[25]

撰文|蜜妹 这是@闺蜜财经的第1494篇原创 年报披露在即！成都银行出了点小风波：合计5000万股股票将遭拍卖，起拍价合达6.675亿元，还是一 笔涉刑资产。 这两年，在蜜妹的印象里，成都银行风光无限。总资产破万亿，成为西部首家万亿级城商行，业绩也是 跑赢大盘。 各种标签背后，成都银行究竟咋样，今天来我们来看看。 01 先看下即将开始拍卖的这5000股股权。根据司法拍卖平台的披露，这5000股股份被拆分成了10个标的， 背后的股东均为上海东昌投资发展有限公司(简称东昌投资)，该司也是成都银行的第六大股东，此次被 拍卖的股份占成都银行总股本的1.31%。 东昌投资也是成都银行的“老朋友”了。早在成都银行IPO时，就曾披露：2007年11月，成都市商业银行 采取非公开定向发行的方式，以3元/股的价格向境内外投资者增发20亿股股份，其中东昌投资认购1.2 亿股，持股比例为3.69%，当时为第七大股东。 图片 图表来源|网络(特此感谢！) 值得注意的是，这次被拍卖的5000万股，是东昌投资为车某代持的。不过这一情况，蜜妹在成都银行此 前的信披消息里，似乎没有看到。这次司法拍卖才让该代持浮出水面。 2018年，成都银行 ...