二、审议通过了《青岛银行股份有限公司 2025 年三季度第三支柱信息披露 报告》 本议案同意票 14 票，反对票 0 票，弃权票 0 票。 证券代码：002948 证券简称：青岛银行 公告编号：2025-038 青岛银行股份有限公司董事会决议公告 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。 青岛银行股份有限公司（以下简称"本行"）于2025年10月14日以电子邮件方 式向董事发出关于召开第九届董事会第二十次会议的通知，会议于2025年10月28 日以通讯表决方式召开，应参与表决董事14名，实际表决董事14名。本次会议召 开符合《中华人民共和国公司法》《深圳证券交易所股票上市规则》和《青岛银 行股份有限公司章程》的规定。会议审议通过了以下议案： 一、审议通过了《关于青岛银行股份有限公司 2025 年第三季度报告的议案》 本议案同意票 14 票，反对票 0 票，弃权票 0 票。 本议案已经本行董事会审计委员会事前认可，由该委员会全体委员审议通过， 同意将其提交董事会审议。本行 2025 年第三季度报告同日在《中国证券报》《上 海证券报》《证券时报》《证券日报》和巨 ...

青岛银行公告，第三季度营收为33.51亿元，同比下降0.22%；净利润为9.27亿元，同比增长13.90%。前 三季度营收为110.13亿元，同比增长5.03%；净利润为39.92亿元，同比增长15.54%。 ...

Market Performance - The city commercial bank sector increased by 0.01% compared to the previous trading day, with Xiamen Bank leading the gains [1] - The Shanghai Composite Index closed at 3988.22, down by 0.22%, while the Shenzhen Component Index closed at 13430.1, down by 0.44% [1] Individual Bank Performance - Xiamen Bank's closing price was 7.15, with a rise of 5.46% and a trading volume of 582,400 shares, amounting to a transaction value of 412 million yuan [1] - Chongqing Bank closed at 10.67, up by 2.11%, with a trading volume of 225,000 shares [1] - Chengdu Bank's closing price was 18.11, increasing by 0.84% with a trading volume of 314,100 shares [1] - Other banks such as Changsha Bank, Lanzhou Bank, and Jiangsu Bank showed minimal changes in their stock prices [1] Capital Flow Analysis - The city commercial bank sector saw a net inflow of 223 million yuan from institutional investors, while retail investors experienced a net outflow of 356 million yuan [2] - The main capital inflow was observed in banks like Nanjing Bank and Chengdu Bank, with significant net inflows from institutional investors [3] - Retail investors showed a negative net flow in several banks, indicating a cautious sentiment among smaller investors [3]

Core Viewpoint - Agricultural Bank of China (ABC) has seen its stock price rise over 1% on October 28, reaching a historical high of 8.29 CNY per share, with a total market capitalization approaching 3 trillion CNY [1]. Group 1: Stock Performance - On October 28, ABC's stock price was reported at 8.29 CNY per share, marking an increase of 1.34% [2]. - The total market capitalization of ABC is approximately 28,179 billion CNY [2]. - The stock has a price-to-earnings (P/E) ratio of 10.2 and a price-to-book (P/B) ratio of 1.08 [2]. Group 2: Market Context - Other banks such as Xiamen Bank, Chongqing Bank, Postal Savings Bank, and Industrial and Commercial Bank of China also experienced stock price increases [1][3]. - Chongqing Bank's stock rose by 1.72%, while ABC's stock increased by 1.22% [3].

Core Viewpoint - Agricultural Bank of China has reached a new historical high with a stock price of 8.29 CNY per share, pushing its total market capitalization close to 3 trillion CNY [1]. Group 1: Stock Performance - Agricultural Bank of China saw an increase of over 1% in its stock price, marking a significant milestone [1]. - Other banks such as Xiamen Bank, Chongqing Bank, Postal Savings Bank, and Industrial and Commercial Bank also experienced upward movement in their stock prices [2]. - The following are the current prices and percentage changes for selected banks: - Xiamen Bank: 6.91 CNY, up 1.92% - Chongqing Bank: 10.63 CNY, up 1.72% - Agricultural Bank: 8.28 CNY, up 1.22% - Qilu Bank: 6.10 CNY, up 0.66% - Qingdao Bank: 5.24 CNY, up 0.38% - Zijin Bank: 2.93 CNY, up 0.34% - Postal Savings Bank: 6.03 CNY, up 0.33% - Industrial and Commercial Bank: 7.92 CNY, up 0.13% - Changsha Bank: 9.54 CNY, up 0.10% [3].

Investment Rating - The investment rating for the industry is "Positive" (maintained) [1] Core Insights - The report highlights that retail non-performing loan (NPL) rates and generation rates are currently high, indicating ongoing pressure on bank profitability. Despite a low overall NPL rate, the retail sector shows signs of risk, with a marginal increase in the NPL rate to 1.28% [14][15] - The transition period for new risk regulations is nearing its end, with concerns about the impact on banks' provisioning levels. However, the report suggests that the actual impact may be less severe than market expectations [16] - The trend of de-collateralization in bank lending is evident, driven by both business characteristics and strategic choices made by banks to reduce reliance on collateralized loans [17] Summary by Sections 1. Retail NPL and Generation Rates - The retail NPL rate has increased to 1.28%, with a steepening curve indicating ongoing risk. The generation rate for retail loans remains high, with significant increases noted in certain banks [14][18] - The report indicates that while the overall NPL rate is low, the divergence between overdue and NPL indicators suggests underlying risks in the retail sector [19] 2. Impact of New Risk Regulations - The new risk regulations will require banks to classify impaired loans as NPLs, potentially increasing reported NPL rates. However, the report anticipates that the actual provisioning pressure may be manageable [16][17] 3. De-Collateralization in Lending - The report notes a significant decline in the proportion of collateralized loans, with banks shifting towards non-collateralized lending strategies. This shift is influenced by the need to manage risk more effectively [17][18] 4. Investment Recommendations - The report recommends certain state-owned banks due to their customer base advantages and manageable retail risk pressures. It also highlights specific banks such as CITIC Bank and Agricultural Bank of China as beneficiaries of this trend [6]

2025年10月24日，青岛银行（002948）发布公告称， 为向您提供更为优质的服务，青岛银行根据信用 卡业务发展需要，对现行《青岛银行信用卡积分商城用户服务协议》及《信用卡积分商城个人信息保护 政策》进行了修订和完善，现发布新版协议及政策，自2025年12月10日生效。 ...

中国经济网北京10月27日讯 国家金融监督管理总局网站近日发布的青岛监管局行政处罚信息公开 表显示，青岛银行股份有限公司青岛西海岸分行及相关责任人以即贷即收方式虚增存贷款规模。 青岛金融监管局对该分行罚没合计518313.83元；对时任该分行崇明岛路支行行长李作勤、井冈山 路支行行长况军分别给予警告处罚。 | 序号 | 当事人名称 | 主要违法违规 | 行政处罚内容 | 作出决定 | | --- | --- | --- | --- | --- | | | | 行为 | 对该分行罚没合计 | 机关 | | 1 | 青岛银行股份 | | 518313.83元;对时 | | | | 有限公司青岛 | 以即贷即收方式 | 任该分行崇明岛路支 | 青岛金融监 | | | 西海岸分行及 | 虚增存贷款规模 | 行行长李作勤、井冈 | 管局 | | | 相关责任人 | | 山路支行行长况军分 | | | | | | 别给予警告处罚 | | （责任编辑：田云绯） 以下为原文： ...

1. Report Industry Investment Rating No industry investment rating information is provided in the report. 2. Core Viewpoints of the Report - In the short - term, the buying power of credit bonds may not increase significantly due to uncertainties, reduced cost - performance of some varieties, and potential challenges from the yet - to - be - released official draft of public fund redemption fees. It is recommended to be cautious when chasing long - duration varieties and to focus on short - to - medium - term varieties with good liquidity, such as 1 - 3 - year AA and AA(2) urban investment bonds [2][14]. - Bank capital bonds fluctuated narrowly in the secondary market from October 20 - 24, 2025, and performed weaker than general credit bonds of the same term. However, 1 - year short - duration bank capital bonds have fallen out of price - performance and have a coupon advantage, and some bonds in 1 - 2 - year AA and 2 - 3 - year AA+ and above bank capital bonds have absolute yields above 2% and are worthy of attention [3][23]. 3. Summary by Relevant Catalogs 3.1 Urban Investment Bonds: Yields Down Across the Board, Sentiment Spreading to the Long - End - In October 2025, the net financing of urban investment bonds was repaired. From October 1 - 26, the issuance was 350.8 billion yuan, with a net inflow of 39.9 billion yuan. The subscription sentiment was good, and the proportion of subscriptions over 3 times increased to 64%. The proportion of long - term issuance decreased, and the issuance interest rate decreased slightly [32]. - In the secondary market from October 20 - 25, yields declined across the board, and sentiment spread to the medium - and long - term. The long - term activity increased slightly, with 90 transactions for bonds over 5 years, 15 more than the previous week [35][38]. 3.2 Industrial Bonds: Net Financing Increased Significantly Year - on - Year, Both Issuance and Transaction Sentiment Improved - From October 1 - 26, 2025, industrial bond issuance was 588.2 billion yuan, a year - on - year increase of 226.4 billion yuan, and net financing was 240.1 billion yuan, a year - on - year increase of 171.2 billion yuan. The issuance sentiment improved, and the proportion of full - field multiples over 3 times increased from 20% to 30% [40]. - The proportion of long - duration varieties issued increased. The proportion of bonds over 5 years issued increased from 3% in September to 6%. The buying sentiment in the secondary market improved, with the TKN ratio increasing from 72% to 77%, and the low - valuation ratio increasing from 62% to 63% [40][42]. 3.3 Bank Capital Bonds: Yields Fluctuated Narrowly, Transaction Sentiment Remained Weak - From October 20 - 24, 2025, Weihai Bank issued 2 billion yuan of 5 + 5 - year secondary capital bonds at an issuance rate of 2.60%, and Qingdao Bank issued 1.5 billion yuan of 5 + N - year perpetual bonds (issuance rate not yet announced). - In the secondary market, yields fluctuated narrowly, and 3 - 5 - year small - and medium - sized bank secondary capital bonds performed better. Compared with medium - and short - term notes of the same term, bank capital bonds performed weaker, and relative spreads generally widened [23][45]. - The transaction sentiment remained weak. The TKN ratios of secondary capital bonds and perpetual bonds increased slightly to 63% and 57%, respectively, but the low - valuation ratios both dropped below 50% [48].

Investment Rating - The report maintains an "Accumulate" rating for the banking sector, indicating a positive outlook despite challenges in the gold market in 2025 [1]. Core Insights - The gold market is expected to present both opportunities and challenges for banks, with a trend towards deepening precious metal business driven by central bank purchases [1][2]. - The demand for gold bars and coins has increased significantly, reflecting a growing need for gold as a hedge and store of value among residents [4]. - The establishment of a market-making system for gold trading is anticipated to enhance market liquidity and stability, positioning listed banks as key players [3][4]. Summary by Sections 1. Policy and Market Environment - As of September 2025, China's official gold reserves reached 74.06 million ounces, marking an increase for 11 consecutive months [2]. - In Q2 2025, global central banks added 166 tons of gold to their reserves, with 95% of surveyed central banks expecting further increases in the next 12 months [2]. - New policies allowing insurance funds to invest in gold are expected to create new opportunities for banks to provide services to insurance institutions, enhancing their intermediary income [2]. 2. Business Dynamics and Revenue Contribution - In the first half of 2025, China's gold consumption was 505.205 tons, a year-on-year decrease of 3.54%, with significant growth in gold bar and coin consumption by 23.69% [4]. - The decline in gold jewelry consumption is prompting banks to shift focus from traditional jewelry sales to investment-oriented precious metal businesses [4]. - The growth in investment demand for gold bars and coins is expected to stabilize income from investment-related businesses, enhancing the profitability of the precious metals segment for banks [4]. 3. Industry Trends - The report highlights a structural shift in gold consumption, with investment demand rising while jewelry demand declines, indicating a need for banks to adapt their business strategies [4]. - The performance of the banking sector is expected to benefit from expansionary policies aimed at stabilizing the economy, with specific banks like Ningbo Bank and Jiangsu Bank recommended for investment due to positive fundamental changes [8]. 4. Key Data Tracking - The report includes various financial metrics, such as average daily trading volume and margin financing balances, which are essential for assessing market conditions [9][10].