截至2025年末，本公司资产总额8149.60亿元，比上年末增加1249.97亿元，增长18.12%，其中，客户贷 款总额3970.08亿元，比上年末增加563.19亿元，增长16.53%；负债总额7647.06亿元，比上年末增加 1196.42亿元，增长18.55%，其中，客户存款总额5028.99亿元，比上年末增加708.75亿元，增长 16.41%。 资产质量迈上新台阶。不良贷款实现额率"双降"，不良贷款率降至1.00%以下。截至2025年末，本公司 不良贷款余额38.41亿元，比上年末减少0.32亿元，不良贷款率0.97%，比上年末下降0.17个百分点。拨 备覆盖率292.30%，比上年末提高50.98个百分点。 智通财经APP获悉，青岛银行(03866)涨超6%，截至发稿，涨6.55%，报4.23港元，成交1425.1万港元。 消息面上，1月28日，青岛银行发布2025年度业绩快报，营业收入145.73亿元人民币，同比增加7.97%； 归属于母公司股东的净利润51.88亿元，同比增加21.66%；基本每股收益0.85元。 ...

净利润同比高增 22%，不良率降至 1%以下 青岛银行(002948) 青岛银行 2025 年业绩快报点评 | [姓名table_Authors] | 电话 | 邮箱 | 登记编号 | | --- | --- | --- | --- | | 马婷婷(分析师) | 021-23185608 | matingting@gtht.com | S0880525100001 | | 陈惠琴(分析师) | 021-38676666 | chenhuiqin@gtht.com | S0880525100003 | 本报告导读： 青岛银行扩表保持强劲，不良指标持续改善，拨备进一步夯实，业绩保持稳健高质 量增长，维持目标价至 6.4 元，维持增持评级。 投资要点： | [Table_Finance] 财务摘要（百万元） | 2023A | 2024A | 2025E | 2026E | 2027E | | --- | --- | --- | --- | --- | --- | | 营业收入 | 12,472 | 13,498 | 14,599 | 15,953 | 17,472 | | (+/-)% | 7.1% | 8.2% ...

Core Viewpoint - Qingdao Bank reported significant profit growth in 25A, with a notable increase in ROE and accelerated loan disbursement, while both non-performing loan ratio and amount decreased [1][2][3]. Performance Overview - In 25A, Qingdao Bank's operating income and net profit attributable to shareholders grew by 8.0% and 21.7% year-on-year, respectively, with growth rates improving by 2.9 percentage points and 6.1 percentage points compared to 25Q1-3 [2][3]. - The non-performing loan ratio at the end of 25Q4 was 0.97%, a decrease of 13 basis points quarter-on-quarter, while the provision coverage ratio increased to 292%, up by 22% [2][5]. Profit Growth - The profit performance of Qingdao Bank exceeded market expectations, attributed to an anticipated increase in net interest income due to accelerated loan disbursement and a significant narrowing or reversal of declines in other non-interest income [3]. - The bank is expected to maintain double-digit profit growth through 2026, supported by strong loan disbursement capacity and stable asset quality [3]. Loan and Deposit Growth - At the end of 25Q4, loans and deposits grew by 16.5% and 16.4% year-on-year, respectively, with quarter-on-quarter growth rates improving by 3.2 percentage points and 3.9 percentage points [4]. - The increase in loan and deposit growth is attributed to the bank's strategy of early disbursement for early returns, with a focus on increasing loan issuance and deposit acquisition in 25Q4 [4]. Non-Performing Loan Ratio Decline - The non-performing loan amount decreased to 3.841 billion yuan, down by 7% quarter-on-quarter, while the provision coverage ratio improved significantly [5]. Profit Forecast and Valuation - Qingdao Bank is identified as a rare growth stock with increasing ROE, with projected net profit growth rates of 21.66%, 14.07%, and 14.16% for 2025-2027 [6]. - The target price is set at 6.21 yuan per share, corresponding to a target valuation of 0.80x PB for 2026, indicating a potential upside of 34% from the current price [6].

登录新浪财经APP 搜索【信披】查看更多考评等级 二、经营业绩和财务状况情况说明 证券代码：002948 证券简称：青岛银行 公告编号：2026-002 本行及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、误导性陈述或者重大遗漏。 特别提示：本公告所载2025年度的财务数据仅为根据中国企业会计准则初步核算的集团口径数据，未经 会计师事务所审计，与2025年度报告中披露的最终数据可能存在差异，请投资者注意投资风险。 一、2025年度主要财务数据和指标 除特别说明外，金额单位为人民币千元 注：（1）基本每股收益和加权平均净资产收益率根据《公开发行证券的公司信息披露编报规则第9号— 净资产收益率和每股收益的计算及披露》（2010年修订）计算。本年基本每股收益和加权平均净资产收 益率比上年均有所增长，主要是归属于母公司普通股股东的净利润增加。本行于2022年7-8月、2025年 10月分别发行永续债，分类为其他权益工具。计算基本每股收益和加权平均净资产收益率时，"归属于 母公司普通股股东的净利润"扣除了支付的永续债利息，"加权平均净资产"扣除了永续债的影响。 （2）归属于母公司普通股股东的每股净资产=（ ...

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：002948 证券简称：青岛银行 公告编号：2026-002 青岛银行股份有限公司 2025年度业绩快报 本行及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、误导性陈述或者重大遗漏。 特别提示：本公告所载2025年度的财务数据仅为根据中国企业会计准则初步核算的集团口径数据，未经 会计师事务所审计，与2025年度报告中披露的最终数据可能存在差异，请投资者注意投资风险。 一、2025年度主要财务数据和指标 除特别说明外，金额单位为人民币千元 ■ 注：（1）基本每股收益和加权平均净资产收益率根据《公开发行证券的公司信息披露编报规则第9号一 净资产收益率和每股收益的计算及披露》（2010年修订）计算。本年基本每股收益和加权平均净资产收 益率比上年均有所增长，主要是归属于母公司普通股股东的净利润增加。本行于2022年7-8月、2025年 10月分别发行永续债，分类为其他权益工具。计算基本每股收益和加权平均净资产收益率时，"归属于 母公司普通股股东的净利润"扣除了支付的永续债利息，"加权平均净资产"扣除了永续债的影响。 （2）归属于母公司普通股股东 ...

Major Events - Cao Cao Travel (02643) plans to place up to 12 million shares at a discount of approximately 8.97%, aiming to raise about HKD 383 million [1] - Bio-Asia (02315) intends to increase capital in Jiangsu Bio-Asia through a debt-to-equity swap [1] - Beijing Energy International (00686) subsidiary plans to acquire 70% equity in Yangzhou Tai Run Low Carbon Technology Development for RMB 248 million [1] - Ruipu Lanjun (00666) intends to invest a total of RMB 50 million to acquire and increase capital in Fuan Guolong Nano Materials Co., Ltd. for 10.8696% equity [1] Financial Data - Qingdao Bank (03866) reported a net profit attributable to shareholders of RMB 5.188 billion for 2025, an increase of 21.66% year-on-year [1] - New Oriental-S (09901) reported a 42.3% year-on-year increase in net profit attributable to shareholders for the second quarter, reaching USD 45.5 million [1] - Huaxin Cement (06655) expects a net profit attributable to shareholders for 2025 to be between RMB 2.7 billion and RMB 2.95 billion, representing a year-on-year increase of 11.6% to 21.9% [1] - Nine Dragons Paper (02689) issued a profit warning, expecting a mid-term profit of approximately RMB 2.15 billion to RMB 2.25 billion, a year-on-year growth of 216.0% to 230.7% [1] - Yunzhisheng (09678) anticipates annual revenue from large model-related businesses to be approximately RMB 600 million to RMB 620 million, a year-on-year increase of about 1057% to 1095% [1] - Oriental Selection (01797) reported a mid-term profit attributable to shareholders of RMB 239 million, marking a turnaround from loss to profit [1] - Meilian Group (01200) reported a pre-tax profit of approximately HKD 460 million for the first 11 months of 2025, expecting significant profit growth for the 2025 fiscal year [1]

证券研究报告 | 公司点评 | 城商行Ⅱ 青岛银行(002948) 报告日期：2026 年 01 月 28 日 业绩全面超预期 ——青岛银行 2025 年业绩快报点评 投资要点 ❑ 青岛银行 25A 利润高增，ROE 逆势提升，同时贷款投放提速，不良额率双降。 ❑ 业绩概览 青岛银行快报显示，25A 营业收入、归母净利润同比分别增长 8.0%、21.7%，增 速较 25Q1-3 提升 2.9pc、6.1pc。25Q4 末不良率为 0.97%，环比下降 13bp；拨备 覆盖率为292%，环比提升22pc。25A青岛银行ROE为12.68%，同比提升1.2pc。 25Q4 末青岛银行贷款、存款分别同比增长 16.5%、16.4%，增速环比分别提升 3.2pc、3.9pc。存贷增速均提升，判断主要得益于青岛银行采取早投放早收益策 略，在 25Q4 加大了贷款投放以及存款揽存，提前开启开门红投放。 ❑ 不良额率双降 25Q4 末不良率为 0.97%，环比下降 13bp；不良额为 38.41 亿元，环比下降 7%； 25Q4 末拨备覆盖率为 292%，环比提升 22pc，拨备进一步增厚。 ❑ 盈利预测与估值 青岛银行 ...

业绩快报显示，截至2025年末，青岛银行资产总额8149.60亿元，比上年末增加1249.97亿元，增长 18.12%，其中，客户贷款总额3970.08亿元，比上年末增加563.19亿元，增长16.53%；负债总额7647.06 亿元，比上年末增加1196.42亿元，增长18.55%，其中，客户存款总额5028.99亿元，比上年末增加 708.75亿元，增长16.41%。 北京商报讯（记者 孟凡霞 周义力）1月28日，青岛银行发布2025年业绩快报。2025年，青岛银行实现营 业收入145.73亿元，比上年增加10.75亿元，增长7.97%；归属于母公司股东的净利润51.88亿元，比上年 增加9.24亿元，增长21.66%；加权平均净资产收益率12.68%，比上年提高1.17个百分点。 资产质量方面，青岛银行不良贷款实现额率"双降"，不良贷款率降至1.00%以下。截至2025年末，该行 不良贷款余额38.41亿元，比上年末减少0.32亿元；不良贷款率0.97%，比上年末下降0.17个百分点。拨 备覆盖率292.30%，比上年末提高50.98个百分点。 ...

Core Viewpoint - Qingdao Bank has reported an aggressive financial performance amidst challenges in the banking sector, with projected operating income of 14.573 billion yuan, a year-on-year increase of 7.97%, and a net profit attributable to shareholders of 5.188 billion yuan, growing by 21.66% [1] Financial Performance - The profit growth rate is nearly three times that of revenue growth, indicating a significant "scissor difference" that is rare among recent listed bank reports [3] - Qingdao Bank's substantial profit growth appears to be driven by a complex combination of factors, including a significant increase in its provision coverage ratio, suggesting stronger underlying profitability than what revenue figures alone indicate [3][5] - The bank's total assets exceeded 800 billion yuan, reaching 814.96 billion yuan, with a year-on-year growth of 18.12% [3] - Customer loans increased by 16.53% to 397.008 billion yuan, while customer deposits grew by 16.41% to 502.9 billion yuan [3] Credit Growth and Asset Quality - The bank's credit growth rate of over 16% significantly outpaces the industry average, reflecting strong momentum in asset acquisition despite many peers opting for risk-averse strategies [4] - Despite aggressive credit expansion, the non-performing loan (NPL) ratio decreased to 0.97%, down by 0.17 percentage points from the previous year, with a reduction in the absolute value of NPLs [5] - The provision coverage ratio surged to 292.30%, a substantial increase of 50.98 percentage points year-on-year, positioning the bank favorably among city commercial banks [5] Shareholder Returns - The financial performance characterized by "high growth + high defense" has led to a recovery in shareholder returns [6] - The weighted average return on equity (ROE) for 2025 is projected to rise to 12.68%, an increase of 1.17 percentage points year-on-year, with basic earnings per share of 0.85 yuan, up by 23.19% [7] Sustainability Concerns - Despite impressive preliminary data, there are concerns regarding the sustainability of the bank's "volume compensates for price" strategy, as revenue growth of less than 8% in the context of an 18% increase in asset size indicates potential downward pressure on the yield of interest-earning assets [8] - The aggressive growth in scale and profit establishes a solid foundation, but the bank's ability to ensure sustained organic growth remains a critical factor to monitor before the formal annual report is released [8]

近日，据国家金融监督管理总局山东监管局行政处罚信息公开表显示，青岛银行（002948）因主要存 在"银行承兑汇票保证金管理不尽职，未检查、监督流动资金贷款的使用情况"违法违规行为，被罚款65 万元。同时，对相关责任人时任对时任青岛银行济南分行机构客户部总经理王少宇和时任青岛银行济南 分行业务一部总经理梁大诚予以警告。 事实上，这已经并非是青岛银行今年以来第一次收到罚单。1月7日，据国家金融监督管理总局东营监管 分局行政处罚信息公开表显示，青岛银行东营分行因"案防管理不到位、瞒报案件及案件风险信息"违法 违规行为，被罚款80万元。 相关责任人时任青岛银行股份有限公司东营分行副行长冯勋斌、时任青岛银行股份有限公司东营分行办 公室主任刘海峰，时任青岛银行股份有限公司东营分行办公室副主任魏芳被予以警告；时任青岛银行股 份有限公司东营东营区支行行长陈乐鑫，时任青岛银行股份有限公司东营东营区支行副行长陈文涛，时 任青岛银行股份有限公司东营东营区支行公司银行部公司业务经理尹程均被禁止从事银行业工作三年。 近三个月以来，青岛银行连续收到多张涉及案防管理、虚增存贷款、票据业务不审慎等严重违规的罚 单：2025年12月31日，因 ...