股票代码：601825 证券简称：沪农商行 上海农村商业银行股份有限公司 2025 年半年度报告 二〇二五年八月 | | | 上海农村商业银行股份有限公司 2025 年半年度报告 重要提示 1、本公司董事会及董事、高级管理人员保证本报告内容的真实、 准确、完整，不存在虚假记载、误导性陈述或重大遗漏，并承担法律 责任。 2、本公司于 2025 年 8 月 29 日召开董事会 2025 年第七次会议审 议通过本报告，会议应出席董事 14 名，实际亲自出席董事 12 名。王 娟董事、李培功独立董事因公务原因未能亲自出席，王娟董事委托陈 缨独立董事代为出席并表决，李培功独立董事委托黄纪宪独立董事代 为出席并表决。14 名董事均行使表决权。本公司部分监事及非董事 高级管理人员列席了本次会议。 3、本公司按中国会计准则编制的 2025 年半年度财务报告已经毕 马威华振会计师事务所（特殊普通合伙）根据中国注册会计师审阅准 则审阅，并出具了无保留结论的审阅报告。 4、本公司法定代表人并代行行长职责主管会计工作负责人徐力、 会计机构负责人陈南华声明：保证本报告中财务报告的真实、准确、 完整。 5、经 2025 年 6 月 13 ...

上海农村商业银行股份有限公司"提质增效重回报"专项行动方案 为深入贯彻党的二十大、二十届三中全会和中央经济工作会议、中 央金融工作会议精神，落实国务院《关于进一步提高上市公司质量的意 见》，推动公司高质量发展和投资价值提升，保护投资者尤其是中小投 资者合法权益，上海农村商业银行股份有限公司（以下简称"公司"） 积极响应上海证券交易所《关于开展沪市公司"提质增效重回报"专项 行动的倡议》，结合自身发展战略和经营情况，在公司估值提升计划基 础上制定了"提质增效重回报"专项行动方案。具体如下： 一、提升价值创造能力，稳步推进高质量发展 公司坚持党的全面领导，把握金融工作的政治性、人民性，积极服 务国家战略，深化融入区域发展，扎实支持实体经济，始终坚持稳健经 营，推动经营水平和发展质量稳步提升，在为客户、股东、员工和社会 创造价值的道路上砥砺奋进。 （一）积极服务国家战略，主动融入区域发展 提高政治站位，以公司新一轮发展战略为引领，坚持"客户中心、 普惠金融、数字转型"三大核心战略，持续打造"五大金融服务体 系"，深化OKR战略管理工具运用，强化战略执行，全面服务"十五 五"时期科技创新、乡村振兴、绿色低碳转型、民生 ...

上海农商银行 2025 年半年度第三支柱信息 本行建立完善的信息披露治理结构，由董事会批准并由高级管理 层实施有效的内部控制流程，对信息披露内容进行合理审查，确保第 三支柱披露信息真实、可靠。2025 年 8 月 29 日，本行董事会 2025 年第七次会议审议通过了本报告。 本行根据国家金融监督管理总局 2023 年 11 月发布的《商业银行 资本管理办法》正文及附件的相关规定编制并披露本报告。 具体表单如下： 表格 KM1：监管并表关键审慎监管指标 单位：人民币万元 表格 OV1：风险加权资产概况 | | a | b | | | | c | | | d | | | | | | e | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 2025 年 6 月 30 | 2025 年 3 | 月 | 31 | 2024 年 | 12 | 月 31 | 2024 | 9 | 月 | 年 | 年 | 30 | 2024 | 6 月 30 | | | 日 | 日 | ...

本公司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。 重要内容提示： 本次关联交易已经独立董事专门会议、董事会关联交易控制委 员会审议通过，并由董事会批准，无需提交股东大会审议。 本次关联交易属于本公司日常业务经营中的正常业务，不构成 对关联方重大依赖，对本公司的正常经营活动及财务状况不构成重要 影响。 一、关联交易概述 上海农村商业银行股份有限公司（以下简称"本公司"）董事会 2025 年第七次会议审议通过了《关于公司关联交易的议案》，同意 给予上海国际集团有限公司关联授信额度 298 亿元、给予中国远洋海 运集团有限公司关联授信额度 125 亿元、给予中国宝武钢铁集团有限 公司关联授信额度 85 亿元、给予上海久事（集团）有限公司关联授 信额度 92 亿元、给予中国太平洋保险（集团）股份有限公司关联授 信额度 51 亿元、给予上海国盛（集团）有限公司关联授信额度 78 亿 元、给予浙江省交通投资集团有限公司关联授信额度 41.3 亿元、给 予中国太平保险集团有限责任公司关联授信额度 53 亿元、给予上海 申迪（集团）有限公司关 ...

Market Overview - On August 29, the rural commercial bank sector declined by 0.23%, with Yunnan Rural Commercial Bank leading the drop [1] - The Shanghai Composite Index closed at 3857.93, up 0.37%, while the Shenzhen Component Index closed at 12696.15, up 0.99% [1] Individual Stock Performance - Key stock performances in the rural commercial bank sector included: - Zijin Bank: Closed at 2.98, up 1.71% with a trading volume of 1.1942 million shares and a turnover of 3.56 billion [1] - Wuxi Bank: Closed at 6.10, up 1.50% with a trading volume of 520,700 shares and a turnover of 321 million [1] - Zhangjiagang Bank: Closed at 4.52, up 0.67% with a trading volume of 671,100 shares and a turnover of 304 million [1] - Qingnong Bank: Closed at 3.42, up 0.59% with a trading volume of 661,700 shares and a turnover of 228 million [1] - Jiangyin Bank: Closed at 4.80, up 0.21% with a trading volume of 510,100 shares and a turnover of 247 million [1] - Ruifeng Bank: Closed at 5.61, down 0.18% with a trading volume of 182,100 shares and a turnover of 103 million [1] - Changshu Bank: Closed at 7.52, down 0.27% with a trading volume of 445,800 shares and a turnover of 338 million [1] - Sunong Bank: Closed at 5.29, down 0.38% with a trading volume of 477,800 shares and a turnover of 255 million [1] - Hunan Rural Commercial Bank: Closed at 18.70, down 0.68% with a trading volume of 364,400 shares and a turnover of 320 million [1] - Yunnan Rural Commercial Bank: Closed at 6.29, down 0.79% with a trading volume of 865,600 shares and a turnover of 552 million [1] Capital Flow Analysis - The rural commercial bank sector experienced a net outflow of 13.4605 million from main funds, while speculative funds saw a net inflow of 38.5712 million, and retail investors had a net outflow of 25.1107 million [1] - Detailed capital flow for individual stocks included: - Sunong Bank: Main funds net inflow of 22.3068 million, speculative funds net inflow of 30.55 million, retail net outflow of 22.6123 million [2] - Jiangyin Bank: Main funds net inflow of 7.4654 million, speculative funds net inflow of 73.39 million, retail net outflow of 8.1993 million [2] - Zijin Bank: Main funds net inflow of 7.3454 million, speculative funds net inflow of 819.73 million, retail net outflow of 15.5427 million [2] - Qingnong Bank: Main funds net inflow of 6.0408 million, speculative funds net inflow of 374.38 million, retail net outflow of 9.7846 million [2] - Wuxi Bank: Main funds net inflow of 3.1286 million, speculative funds net inflow of 96.36 million, retail net outflow of 4.0922 million [2] - Ruifeng Bank: Main funds net outflow of 1.3678 million, speculative funds net inflow of 794.01 million, retail net outflow of 6.5722 million [2] - Zhangjiagang Bank: Main funds net outflow of 2.5651 million, speculative funds net inflow of 438.50 million, retail net outflow of 1.8199 million [2] - Hunan Rural Commercial Bank: Main funds net outflow of 7.2508 million, speculative funds net inflow of 596.70 million, retail net inflow of 128.37 million [2] - Changshu Bank: Main funds net outflow of 8.2141 million, speculative funds net inflow of 620.80 million, retail net inflow of 200.61 million [2] - Yunnan Rural Commercial Bank: Main funds net outflow of 40.3497 million, speculative funds net inflow of 12.71 million, retail net inflow of 40.2227 million [2]

8月28日，《清华金融评论》正式发布 "2025中国银行业排行榜200强" 。 本次榜单包括 "2025中国银行业排行榜200强：资本实力总榜单" 和 "2025中国银行业排行榜200强：竞争力总榜单" 两个榜单，前者主要根据核心一级资本净额的单项指标来评价，后者为运用多项指标对银行 进行的综合评价。 "2025中国银行业排行榜200强：资本实力总榜单" 参考巴塞尔协议Ⅲ和中国银行业监管机构的相关要求，基于中国各家商业银行2024年末的 核心一级资本净额，遴选出前200家银行进行排名，榜单同时公布了上榜银行在总资产、净利润、成本收入比、净息差、资产利润率、资本 利润率、资本充足率及不良贷款比率等多项关键指标上的排名。 "2025中国银行业排行榜200强：竞争力总榜单" 是根据商业银行的"三性"原则，遴选出安全性、流动性、效益性三方面的指标因子，包括核 心一级资本净额、资本充足率、不良贷款率、不良贷款拨备覆盖率、流动性比例、存贷款比率、净利润、ROE、净息差、成本收入比等银行 运行活动的重要指标。经过团队数月的深入研究，采用科学创新的研究方法，旨在构建出客观、全面的商业银行竞争力综合评价体系。相关 榜单清晰呈现 ...

Summary of Key Points Core Viewpoint - The Hongli Low Volatility ETF (512890) has shown stable performance with a closing price of 1.197 yuan and a significant asset scale of 20.617 billion yuan as of August 27, 2025, indicating its attractiveness for investors seeking steady returns and low volatility [1][4]. Fund Performance - The ETF's cumulative return since its inception in December 2018 has reached 139.00%, outperforming its benchmark and ranking 44th among 502 similar products, highlighting the long-term advantages of the low volatility strategy [4]. - The ETF has experienced net outflows of 120 million yuan over the last five trading days and 810 million yuan over the last ten trading days, while achieving a net inflow of 3.02 billion yuan over the last 60 trading days [1]. Trading Activity - The ETF's trading activity remains robust, with a total trading volume of 9.431 billion yuan over the last 20 trading days and an average daily trading volume of 472 million yuan [1]. - Year-to-date, the ETF has recorded a total trading volume of 66.603 billion yuan, with an average daily trading volume of 416 million yuan, indicating sustained market activity [1]. Top Holdings - The top ten holdings of the ETF include Chengdu Bank, Industrial Bank, Sichuan Road and Bridge, Daqin Railway, CITIC Bank, Shanghai Rural Commercial Bank, Jiangsu Bank, Chongqing Rural Commercial Bank, Shanghai Bank, and Bank of Communications, with a total market value of approximately 5.147 billion yuan [3][4]. Investment Strategy - The Chief Investment Officer of China Life emphasizes a focus on long-term capital market entry and optimizing equity asset structure, particularly in high-dividend stocks to enhance stability and long-term return potential [3]. - Jinglin Asset's strategy includes treating dividend assets as a core holding, maintaining or increasing positions in high-dividend stocks while reducing exposure to stocks with declining dividend attractiveness [3].

Market Performance - The agricultural commercial bank sector increased by 0.41% on August 28, with Shanghai Agricultural Commercial Bank leading the gains [1] - The Shanghai Composite Index closed at 3843.6, up 1.14%, while the Shenzhen Component Index closed at 12571.37, up 2.25% [1] Individual Stock Performance - Shanghai Agricultural Commercial Bank (601825) closed at 8.76, up 1.04% with a trading volume of 382,700 shares and a transaction value of 334 million [1] - Zhangjiagang Bank (002839) closed at 4.49, up 0.67% with a trading volume of 410,800 shares and a transaction value of 183 million [1] - Chongqing Agricultural Commercial Bank (601077) closed at 6.34, up 0.48% with a trading volume of 744,600 shares and a transaction value of 470 million [1] - Jiangyin Bank (002807) closed at 4.79, down 0.21% with a trading volume of 489,800 shares and a transaction value of 234 million [1] Capital Flow Analysis - The agricultural commercial bank sector saw a net inflow of 9.792 million from institutional investors and a net inflow of 43.4504 million from retail investors, while individual investors experienced a net outflow of 53.2424 million [1] - Chongqing Agricultural Commercial Bank had a net inflow of 32.1428 million from institutional investors, while retail investors had a net outflow of 786.10 thousand [2] - Jiangyin Bank experienced a net inflow of 1.0032 million from institutional investors, with a net outflow of 2.76418 million from retail investors [2]

Fundraising Overview - The company raised a total of RMB 845.65 million from its initial public offering, with a net amount of RMB 778.11 million after deducting underwriting and other related fees [1][2] - As of June 30, 2025, the company had a remaining balance of RMB 83.02 million in its fundraising account, which includes interest income [2][3] Fund Management - The company has established a fundraising management system to ensure compliance with regulations and protect investor interests, including a tripartite supervision agreement with banks [3][4] - The company has not used any of the raised funds for supplementing working capital or for cash management during the reporting period [7][8] Fund Utilization - The company has utilized RMB 133.24 million of the raised funds to replace self-raised funds previously invested in fundraising projects [6] - The company has not used any surplus funds for ongoing or new projects during the reporting period [10][11] Legal Matters - The company is involved in several lawsuits with a cumulative amount of RMB 220.62 million, which represents 22.69% of its latest audited net assets [23][24] - Key cases include disputes over project payments and a stock acquisition agreement, with ongoing legal proceedings [25][26][27] Board Changes - The company has appointed a new non-independent director, Sun Wei, and a new board secretary, He Yufei, following the resignation of a previous director [35][37] Shareholder Meeting - The company will hold its fourth extraordinary general meeting on September 12, 2025, to discuss various resolutions, including the appointment of new board members [54][56]

Market Performance - The agricultural commercial bank sector declined by 1.68% on August 27, with Jiangyin Bank leading the drop [1] - The Shanghai Composite Index closed at 3800.35, down 1.76%, while the Shenzhen Component Index closed at 12295.07, down 1.43% [1] Individual Stock Performance - Notable declines in individual stocks include: - Jiangyin Bank: -2.83% closing at 4.80 [1] - Chongqing Rural Commercial Bank: -2.02% closing at 6.31 [1] - Common declines across other banks such as Zijin Bank (-2.34%) and Ruifeng Bank (-2.77%) [1] Trading Volume and Capital Flow - The total net outflow of main funds from the agricultural commercial bank sector was 80.14 million yuan, while retail funds saw a net inflow of 427,100 yuan [1] - The trading volume for major stocks included: - Jiangyin Bank: 450,400 shares traded with a transaction value of 219 million yuan [1] - Chongqing Rural Commercial Bank: 1,068,200 shares traded with a transaction value of 680 million yuan [1] Detailed Capital Flow Analysis - Key capital flow data for selected banks: - Su Nong Bank: Main funds net inflow of 12.16 million yuan, retail net outflow of 10.25 million yuan [2] - Qing Nong Bank: Main funds net inflow of 9.05 million yuan, retail net outflow of 5.90 million yuan [2] - Jiangyin Bank: Main funds net inflow of 7.65 million yuan, retail net outflow of 17.77 million yuan [2] - Significant outflows were observed in: - Zijin Bank: Main funds net outflow of 21.16 million yuan [2] - Common Agricultural Bank: Main funds net outflow of 26.58 million yuan [2]