香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部或任何部分內容 而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 BANK OF CHONGQING CO., LTD.* 重慶銀行股份有限公司* （ 於 中 華 人 民 共 和 國 註 冊 成 立 的 股 份 有 限 公 司 ） （股份代號：1963） 海外監管公告 代表董事會 本公告乃重慶銀行股份有限公司*（「本行」）根據香港聯合交易所有限公司證券上市規則第 13.10B條而作出。 茲載列本行在上海證券交易所網站刊發之《關於股東權益變動事項的進展公告》，僅供參 閱。 关于股东权益变动事项的进展公告 本行董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重庆银行股份有限公司（以下简称"本行"）于 2025 年 5 月 31 日在上海证 券交易所网站（www.sse.com.cn）披露了《关于股东权益变动的提示性公告》（公 告编号：2025-039）。重庆渝富资本运营集团有限公司（以下简称"渝 ...

证券代码：601963 证券简称：重庆银行 公告编号：2025-071 可转债代码：113056 可转债简称：重银转债 近日，本行收到渝富资本通知，上述 153,510,000 股川仪股份股票划转至国 机仪器仪表事项已完成非交易过户。 特此公告。 重庆银行股份有限公司董事会 1 2025 年 11 月 20 日 2 重庆银行股份有限公司 关于股东权益变动事项的进展公告 本行董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重庆银行股份有限公司（以下简称"本行"）于 2025 年 5 月 31 日在上海证 券交易所网站（www.sse.com.cn）披露了《关于股东权益变动的提示性公告》（公 告编号：2025-039）。重庆渝富资本运营集团有限公司（以下简称"渝富资本"） 控股股东重庆渝富控股集团有限公司与中国机械工业集团有限公司（以下简称 "国机集团"）、国机仪器仪表（重庆）有限公司（以下简称"国机仪器仪表"） 签订《表决权委托协议》，中国四联仪器仪表集团有限公司与国机集团、国机仪 器仪表签订《中国四联仪器仪表集团有限公司与国机仪器仪 ...

具体来看，招商银行在小红书上已经收获了51.3万粉丝，中信银行信用卡账号紧随其后，有12.6万粉 丝，而光大银行则稳稳坐拥9.4万粉丝的小圈子。可以说，银行们在小红书的"粉丝赛跑"已经悄然开 始，各家都在努力抢占年轻用户的关注度。 凭借在用户消费决策链中的关键入口地位、以及天然具备的"强搜索"属性，小红书正成为各大商业银行 竞相"挖金"的新阵地。 除招商银行、江苏银行等较早布局的机构外，近期浙商银行、大华银行等多家银行也陆续开设官方账 号，让银行在小红书上的身影越来越多。 小红书 小红书 据《证券日报》此前报道，自今年以来，银行、券商、基金、保险等金融机构已成规模地入驻小红书。 截止至今年5月份，各类金融机构已开设超过200个官方账号，其中银行总行、业务条线与各地分支机构 创建的官方账号数量也已超过60个。不同类型金融机构不断"进场"，小红书正日益成为它们争抢流量入 口的缩影。 平台流量庞大，潜在客群可观、活跃度高，这也解释了银行为何积极入驻。另据小红书财经与蚂蚁财富 联合推出的《2024年轻人十大理财趋势盘点》显示，2024年，小红书上"存钱"相关的笔记阅读量达到83 亿，2000多万"00后"通过余额宝定 ...

Group 1: Central Bank Operations - The central bank conducted a 310.5 billion yuan 7-day reverse repurchase operation, with a bid amount and winning amount of 310.5 billion yuan, maintaining an operation rate of 1.40% [1] Group 2: Banking Sector Performance - A-shares in the banking sector experienced fluctuations but generally rose, with China Bank's stock price increasing over 2% to reach a new high, alongside significant gains from other banks such as Everbright Bank and CITIC Bank [2] - The rise in bank stock prices reflects positive market expectations for future growth in the financial industry, likely driven by economic recovery expectations and policy support [2] Group 3: Insurance Sector Performance - The insurance sector in A-shares continued to rise, with China Life and China Property & Casualty Insurance both increasing over 3%, along with other major insurers [3] - The notable growth in the insurance sector indicates investor optimism, potentially influenced by market perceptions of economic stability and increased risk management awareness among individuals [3] Group 4: Gold Market Trends - Spot gold prices reached 4,100 USD per ounce, reflecting a 0.85% increase during the day [4] - The rise in gold prices indicates a sustained preference for safe-haven assets, driven by increasing geopolitical risks and inflation pressures, showcasing gold's appeal as a traditional safe-haven investment [4]

Group 1: Economic Overview - Tax revenue continues to grow at a high level, with October tax revenue increasing by 8.6% year-on-year, maintaining positive growth for seven consecutive months. This growth is attributed to improvements in personal income and increased consumption tax due to holiday spending and rising gold prices [5][6]. - Government fund budget revenue decreased by 2.8% year-on-year, primarily due to a 7.4% decline in land transfer income, which constitutes over 70% of government fund revenue. This decline reflects ongoing challenges in the real estate market [5][6][8]. Group 2: Banking Sector Insights - The deposit growth rate for small and medium-sized banks continues to recover, with a recorded loan-to-deposit growth rate difference of 3.74% for small banks as of the end of October, while large banks show a narrowing difference of -2.10% [11][12]. - The overall deposit growth for large and small banks accelerated to 7.40% and 9.33% respectively, with significant contributions from non-bank deposits. However, corporate deposits are under pressure, leading to a net decrease in corporate deposits for both large and small banks [12][14]. - The credit growth remains weak, with both total and structural credit showing declines. The demand for credit has not yet recovered, and banks are exhibiting cautious lending behavior, impacting overall loan growth [14][15]. Group 3: Company-Specific Analysis - Huagong Technology (华工科技) is positioned as a leading enterprise in the optical-electronic field, with a diversified business model encompassing intelligent manufacturing, optical connectivity, and sensor technology. The company is expected to see significant growth in net profit from 1.96 billion to 3.26 billion from 2025 to 2027 [18][19]. - The company has made breakthroughs in intelligent manufacturing, including the launch of advanced laser cutting equipment and significant advancements in sensor technology, which are expected to enhance its market position [19][20]. - The acquisition of Pinming Technology by Tongzhi Technology is anticipated to empower the company in the embodied brain industry, with projected net profits increasing from 57 million to 105 million from 2025 to 2027 [22][23].

Core Viewpoint - The city commercial bank sector experienced a rise of 0.64% on November 19, with Jiangsu Bank leading the gains, while the Shanghai Composite Index increased by 0.18% and the Shenzhen Component Index remained flat [1] Group 1: Market Performance - Jiangsu Bank closed at 10.90, up by 1.58%, with a trading volume of 839,200 shares and a transaction value of 910 million [1] - Beijing Bank saw a closing price of 5.74, increasing by 1.41%, with a trading volume of 2,281,100 shares and a transaction value of 1.304 billion [1] - Ningbo Bank's closing price was 28.95, up by 0.87%, with a trading volume of 189,300 shares and a transaction value of 548 million [1] - Qilu Bank closed at 6.08, up by 0.83%, with a trading volume of 360,000 shares and a transaction value of 219 million [1] - Chongqing Bank's closing price was 11.29, increasing by 0.80%, with a trading volume of 80,900 shares and a transaction value of 91.35 million [1] - Zhengzhou Bank closed at 2.04, up by 0.49%, with a trading volume of 931,000 shares and a transaction value of 189 million [1] - Chengdu Bank's closing price was 16.70, increasing by 0.48%, with a trading volume of 173,000 shares and a transaction value of 289 million [1] - Hangzhou Bank closed at 15.41, up by 0.46%, with a trading volume of 229,800 shares and a transaction value of 354 million [1] - Changsha Bank's closing price was 9.71, increasing by 0.31%, with a trading volume of 126,200 shares and a transaction value of 123 million [1] - Nanjing Bank closed at 11.51, up by 0.26%, with a trading volume of 377,700 shares and a transaction value of 435 million [1] Group 2: Fund Flow - The city commercial bank sector saw a net inflow of 107 million from main funds, while retail funds experienced a net outflow of 13.57 million [1] - Speculative funds had a net outflow of 93.29 million [1]

Core Viewpoint - The mid-term dividend progress of the four major banks is ahead of last year, with the record date in mid-December, indicating an earlier start to the dividend-driven rally compared to last year's early January record date [1][4] Group 1: Market Trends - The mid-term dividend-driven rally in the banking sector is nearing its end but is expected to continue until the end of November [1][2] - The banking index has been on an upward trend since mid-October, despite a 15% correction over the previous 60 trading days [1] Group 2: Investment Opportunities - Even after the mid-term rally, the banking sector is likely to present good investment opportunities, suggesting investors should overlook short-term volatility [3] - The demand for insurance funds and the need for balanced asset allocation are expected to support the banking sector, especially in a low-interest-rate environment [3] Group 3: Individual Stock Recommendations - Focus on high-dividend and fundamentally strong stocks in the short term, with recommendations for stable stocks like Industrial and Commercial Bank of China (601398.SH) and China Merchants Bank (600036.SH) [5] - Other recommended stocks include Ningbo Bank (002142.SZ) and Chongqing Bank (601963.SH) for their upward fundamental trends, as well as low-valuation stocks like Changsha Bank (601577.SH) and Chongqing Rural Commercial Bank (601077.SH) [5]

Investment Rating - Investment rating: Positive (maintained) [1] Core Views - The current credit growth continues to slow down, and social financing growth is also declining from high levels. Although policies are in place to support the market, their impact on demand recovery has not yet been reflected due to time lags. The retail risk for listed banks has increased but remains manageable, supported by substantial provisioning and stable dividend policies, which together form a "stable anchor" for the "dividend revaluation" logic of banks. The banks' advantages in capital markets, wealth management, and investment banking create a "growth sail" for differentiated valuations. Bank valuations are still at historically low levels, and medium to long-term funds have the potential for allocation, making increased allocation to the banking sector a favorable choice under the "high cut low" and balanced allocation strategy. It is recommended to invest in state-owned banks as they still offer good value compared to risk-free interest rates. Specific recommendations include CITIC Bank, benefiting from China Construction Bank, Agricultural Bank of China, China Merchants Bank, Jiangsu Bank, Chongqing Bank, Hangzhou Bank, and Chongqing Rural Commercial Bank [7]. Summary by Sections Deposit and Loan Growth - The deposit and loan growth rates for small and medium-sized banks continued to recover, with the national large banks' deposit-loan growth rate difference at -1.31% at the end of October, a decrease of 0.33 percentage points from the end of September. The four major banks' deposit-loan growth rate difference narrowed by 0.02 percentage points to -2.10%. Small and medium-sized banks recorded a deposit-loan growth rate difference of 3.74%, an increase of 0.08 percentage points [3][4]. Deposit Structure - In October, both large and small banks saw an acceleration in deposit growth, with large banks and small banks' deposit growth rates at 7.40% and 9.33%, respectively, increasing by 0.16 and 0.22 percentage points month-on-month. However, corporate deposits faced pressure, with both large and small banks experiencing negative growth in corporate deposits for the month. The increase in deposits was primarily driven by non-bank contributions, indicating a trend of "deposit migration" [4][5]. Credit Demand and Supply - The overall credit volume and structure remain poor, with small and medium-sized banks increasing lending. The total loans from deposit-taking financial institutions to residents and enterprises saw a year-on-year decrease. The credit growth is under pressure due to unfulfilled demand and other factors, including banks completing most of their annual credit targets in the first three quarters and a lack of actual credit demand conversion from policy measures [6]. Investment Recommendations - Given the current environment, increasing allocation to the banking sector is recommended as it presents a favorable opportunity for investors. The report emphasizes the potential of state-owned banks and suggests specific banks for investment based on their performance and market conditions [7].

Group 1 - The A-share banking sector is showing strong performance, with the top banking ETF (512800) rising by 1.2% and recovering key moving averages [1] - Major banks, including Bank of China, are leading the gains, with Bank of China hitting a historical high with an increase of over 2% [1] - A total of 26 listed banks have announced mid-term dividends for 2025, amounting to approximately 264.6 billion yuan, with over 200 billion yuan still to be distributed [3] Group 2 - The four major state-owned banks are highlighted as significant contributors to the dividend distribution, with key dates for dividend registration set for December 10 and December 12 [3] - Analysts believe that the high dividend policy will boost market confidence and enhance the defensive value of bank stocks in a low-interest-rate environment [3] - The banking sector has seen a rally since mid-October, driven by a shift in market investment style, and the trend of mid-term dividend accumulation is expected to continue [3] Group 3 - The banking ETF (512800) and its linked funds are designed to track the CSI Bank Index, which includes 42 listed banks, making it an efficient investment tool for the banking sector [4] - The banking ETF has a fund size of approximately 20 billion yuan and an average daily trading volume exceeding 800 million yuan, making it the largest and most liquid among A-share banking ETFs [4]

Group 1 - The A-share market showed a positive trend on November 19, with the banking index rising by 0.93% [1] - The Tianhong Bank ETF (515290) recorded a trading volume exceeding 35 million yuan, indicating strong investor interest [1] - Major banks such as Bank of China, Everbright Bank, and Postal Savings Bank saw their stock prices increase by over 2% [1] Group 2 - As of November 18, the Tianhong Bank ETF had a total scale of nearly 6.2 billion yuan, covering 42 listed banks across various categories [2] - There has been significant insider buying in regional banks this year, with several banks announcing plans for share buybacks in November [2] - Securities firms noted that the profit growth rate for listed banks improved in Q3, driven by reduced provisioning, stabilized net interest margins, and improved wealth management income [2]