Core Points - A red banner was presented to the Jinan Kaiyuan Branch of Agricultural Bank of China, recognizing the high efficiency and dedicated service of employee Zhang Wenhao [1] - This event highlights the branch's commitment to quality service and customer satisfaction, as evidenced by the swift handling of a judicial seizure business [1] - The branch has received a second banner in 2025, indicating ongoing recognition for exceptional customer service [2] Summary by Sections Service Excellence - Zhang Wenhao efficiently processed a judicial seizure request, completing the necessary procedures in just half an hour, which impressed both court staff and clients [1] - The branch emphasizes the importance of professional service and quick response to customer needs, showcasing a strong commitment to client trust [1] Employee Recognition - The Jinan Kaiyuan Branch has received multiple banners in 2025, reflecting the trust and support from customers [2] - Employee Zhang Ying also received recognition for assisting a customer in recovering funds lost due to a short video advertisement [2] Commitment to Improvement - The branch aims to continuously enhance employee skills and service awareness, optimizing service processes to better serve clients [2] - The focus remains on providing efficient, professional, and considerate service to address customer concerns and strengthen financial partnerships [2]

Group 1 - The core focus of the Industrial and Commercial Bank of China (ICBC) Baise Debao Branch is to support the local aluminum industry development through targeted financial strategies, including project loans and financial products like flow loans, bills, and forfaiting [1] - Over the past two years, the bank has provided a total of 28 million yuan in loans for the aluminum industry, 70 million yuan in forfaiting, and 220 million yuan in bill discounts, significantly aiding the transformation and upgrading of the local aluminum sector [1] - The bank's professional team has engaged with Guangxi Jinde Recycling Resources Co., Ltd., identifying the company's financial pain points and offering tailored financial solutions to enhance cash flow [1] Group 2 - The collaboration between government, banks, and enterprises is a successful practice that aligns with Debao County's industrial planning for aluminum-based new materials [2] - As of June 20, the bank has facilitated 97 million yuan in bill discounting services, effectively revitalizing the company's cash flow and providing strong financial support for production expansion and technological innovation [2] - The ICBC Baise Debao Branch plans to continue developing a tripartite cooperation mechanism, deepening partnerships with local industrial parks to better meet enterprise financing needs and innovate financial service models for high-quality economic development [2]

Core Viewpoint - Gansu Province's Min County, known as the "thousand-year medicinal herb town," leverages its unique natural conditions to promote the development of traditional Chinese medicine (TCM) and rural revitalization through financial support from Postal Savings Bank [1][3]. Company Overview - Gansu Jiuzhou Tianrun Traditional Chinese Medicine Industry Co., Ltd. has evolved into a key provincial agricultural industrialization enterprise, integrating planting, processing, sales, and research of medicinal herbs [1]. - The company operates a standardized planting base of 32,000 acres and a GMP-standard processing workshop of 12,000 square meters, focusing on products like Angelica, Astragalus, and Codonopsis [1]. Financial Support and Collaboration - Postal Savings Bank's Gansu branch provided a flexible financing solution tailored to the company's needs, allowing for a three-year revolving credit line to alleviate financial pressure during the peak medicinal herb purchasing season [1][2]. - The bank's proactive approach included on-site contract signing in Wuhan, demonstrating commitment to customer service and fostering a stable long-term partnership [2]. Industry Development - The company employs a "company + cooperative + farmer" model, supporting the development of the medicinal herb industry across eight surrounding towns, maintaining a leading market share in the Northwest region for its key products [2]. - Min County has established itself as the largest base for Angelica cultivation in China, with the Angelica trading volume accounting for approximately 80% of the national total and a green standardized planting rate of over 85% [2]. Financial Integration with Rural Revitalization - Postal Savings Bank's Gansu branch is committed to integrating finance with rural industry revitalization, addressing the financial needs of enterprises at different stages and promoting local economic growth [3]. - The bank aims to resolve financing difficulties for both medicinal herb growers and sellers, transforming traditional resources into significant economic benefits for the local community [3].

Core Points - The "Seed Loan" product has been officially launched in Longgang, Shenzhen, with five seed-stage enterprises receiving a total of 1.7 million yuan in funding on the first day, showcasing effective collaboration between policy innovation and financial services [1][2] - The product targets enterprises with high-level expert teams and core technologies but lacking qualifications and stable cash flow, addressing the financing difficulties faced by startups [2] - Longgang Financial Holdings Company aims to provide nearly 1 billion yuan in funding support to approximately 1,000 "two have, two lack" enterprises within the year, promoting the transformation of technological achievements and high-quality development [2]

Group 1 - The main driver of the economy in Hong Kong is the financial services sector, with most bank loans linked to the HIBOR interest rate, and a reduction in financing costs is expected to stimulate the credit cycle and invigorate economic activity [1] - The correlation between the year-on-year growth of the Hang Seng Index and the year-on-year change in China's manufacturing PMI is as high as 56%, while the correlation with changes in HIBOR and US Treasury yields is relatively low [1] - Changes in interest rates have a more significant impact on local stocks, as lower interest rates can expand liquidity, reduce leverage costs, and stimulate market activity [1] Group 2 - Economic prosperity is highly correlated with the growth rate of M2, and lower financing costs are expected to boost the economy [1] - The current balance of forces on the RMB exchange rate suggests a low likelihood of significant tightening in HKD liquidity, and any fluctuations due to policy adjustments may create opportunities for increased allocation [1] - The Hong Kong Stock Connect ETF (code: 159519) tracks the state-owned index (code: H11153), which primarily includes state-owned enterprises listed on the Shanghai or Shenzhen Stock Exchanges, focusing on key sectors such as energy, finance, and industry [1]

展望未来，申万宏源证券将以此为新起点，持续深化在商业银行资本工具创新领域的 专业优势，围绕国家金融供给侧结构性改革战略，打造涵盖资本规划、产品创新、发 行承销的专业投行服务体系。作为金融央企，公司将进一步强化"服务国家战略、赋能 区域发展"的使命担当，以专业金融服务支持更多区域性银行转型升级，为推动银行业 高质量发展、服务实体经济现代化建设贡献更大价值。 免责 声 明 本内容最终解释权归申万宏源证券有限公司所有。 2025年5月8日，由申万宏源证券担任牵头主承销商的"吉林银行股份有限公司 2025年二级资本债券（第一期）"成功发行，第一期二级资本债券发行规模60亿 元，期限5+5年，票面利率2.58%，票面利率创东三省商业银行资本补充债历史新 低。2025年6月5日，申万宏源证券再次担任牵头主承销商，助力"吉林银行股份有 限公司2025年二级资本债券（第二期）"圆满完成发行，第一期二级资本债券发行 规模40亿元，期限5+5年，票面利率2.57%，票面利率再创东三省商业银行资本补 充债历史新低。 2025年以来，申万宏源证券担任牵头主承销商助力吉林银行成功发行了两期二级资 本债，有助于吉林银行筑牢资本根基，提升 ...

Core Viewpoint - The article highlights the proactive customer service approach of the China Construction Bank (CCB) branch in Heze, which successfully handled a complex case of damaged currency exchange, demonstrating its commitment to customer-centric service [1][2]. Group 1: Customer Service Initiative - The CCB branch in Heze responded to a customer's urgent request to exchange nearly 300 damaged banknotes just before closing time, showcasing its dedication to customer service [1]. - The branch implemented an "emergency currency exchange mechanism," allowing staff to pause end-of-day procedures to assist the customer, reflecting a flexible service model [1][2]. Group 2: Operational Efficiency - Within 20 minutes, the staff completed the identification, counting, and exchange of the damaged banknotes, resulting in the customer receiving 1,125 yuan in new bills [2]. - The branch has processed a total of 47 special damaged currency exchange cases this year, utilizing flexible scheduling and green channel mechanisms to extend service hours [2]. Group 3: Future Commitment - The CCB branch plans to continue optimizing its emergency service system to ensure efficient and warm financial services, aiming to protect the financial interests of the community [2].

Core Insights - The article highlights the dedication and contributions of Wu Jing, a financial professional from Chongqing, who has been working in the banking sector for 25 years, particularly in high-altitude areas, showcasing her commitment to serving clients and promoting financial literacy [1][3]. Group 1: Background and Challenges - Wu Jing was assigned to the Salt Lake Office of China Construction Bank in 1988, located 60 kilometers from Golmud city, facing harsh living conditions and a lack of resources [3]. - The initial phase of her work involved significant challenges, including extreme temperatures and limited access to basic necessities, which led to health issues among her and her colleagues [3]. Group 2: Financial Services and Outreach - Wu Jing has played a crucial role in promoting financial services, particularly the "Farmer Loan" program, which has now reached all villages in Golmud city, despite the difficulties posed by remote locations [5]. - The "Farmer Loan" initiative has been essential for local farmers, with Wu Jing personally visiting households to educate them about financial services, overcoming initial skepticism from the community [5]. Group 3: Community Engagement and Cultural Integration - Wu Jing actively engages with ethnic minority communities, providing financial education and support, particularly in the Jiangyuan Village, which houses relocated herders [7]. - Her efforts include organizing financial literacy campaigns during ethnic festivals, utilizing local translators to ensure effective communication and understanding [7]. - Wu Jing's contributions have been recognized, leading to her election as a member of the Golmud Municipal Committee, where she advocated for regular financial education activities for minority groups [7].

Core Viewpoint - The company has signed a financial services agreement with China Energy Conservation (Hong Kong) Financial Management Co., Ltd., which constitutes a related party transaction, and this agreement is subject to approval at the upcoming shareholders' meeting [1][2][7]. Summary by Sections Related Party Transaction Overview - The board of directors approved the financial services agreement with the financial management company during a meeting held on May 30, 2025 [1]. - The independent directors also reviewed and approved the transaction [1]. Basic Information of Related Party - The financial management company is a third-level subsidiary of the company's controlling shareholder, China Energy Conservation [2]. - The company was established in May 2018 in Hong Kong, with a registered capital of 800 million HKD [2]. - As of December 31, 2024, the financial management company reported total assets of 439.49 million HKD and a net profit of 6.07 million HKD [2]. Basic Information of Transaction - The transaction involves the provision of deposit, settlement, credit, and other financial services by the financial management company to the company [3]. Pricing Policy and Basis - The pricing for the services will be based on the average interest rates of similar deposits offered by commercial banks in Hong Kong and the company's registered location [4]. Main Content of the Agreement - The agreement outlines the services to be provided, including deposit, settlement, credit, and other financial services [4]. - The financial management company commits to offering competitive rates compared to other financial institutions [4]. Purpose and Impact of the Transaction - The agreement aims to leverage the financial management company's platform for overseas financial services, enhancing the company's financing channels and risk management [6]. - The transaction is considered a normal business operation that benefits the company's operational efficiency [6]. Previous Related Transactions - The company has not engaged in any previous related party transactions with the financial management company, and the total amount of related transactions with other related parties is 2.487 billion CNY [6]. Independent Directors' Review - The independent directors concluded that the transaction is a normal business activity that enhances operational efficiency and complies with relevant regulations [6][7]. Sponsor's Review Opinion - The sponsor, CITIC Construction Investment Securities, has no objections to the related party transaction, confirming that it adheres to legal and regulatory requirements [7].

德邦证券正式步入国有实控阶段。 5月29日，德邦证券在济南召开2025年度第一次临时股东会，会议选举产生公司新一届董事会、监事会。新一 届董事会共11人，其中，控股股东山东财金集团提名的4名非独立董事、2名独立董事，均成功当选。 此次成功换届改组，是自2024年9月底证监会批复山东财金集团入主德邦证券后的关键动作，标志着德邦证券 正式步入国有实控阶段。 董事会改组换届，山东财金集团确立控股地位 根据股东会决议，德邦证券第五届董事会由7名董事及4名独立董事组成。其中，山东财金集团提名的4名非独 立董事、2名独立董事，均成功当选。股东会结束后，召开第五届董事会第一次会议，一致推选梁雷担任董事 长。 据悉，此次改组，是自证监会批复山东财金集团入主德邦证券后的关键动作。一方面，将党管金融的政策号召 落到实处；另一方面，积极响应证监会关于加快推进建设一流投资机构的总体要求。此前在2024年9月30日， 山东国资正式入主德邦证券，山东财金集团、济南科金成为德邦证券主要股东，山东财金成为德邦证券实际控 制人。 改组完成后，德邦证券将在落实国资国企监管要求的同时，保留和优化市场化机制，保持企业运作的独立性与 合规性，同时紧密 ...