新京报贝壳财经讯（记者黄鑫宇）近日，邮储银行、建设银行、中国银行、交通银行发布公告称，将通 过向特定对象发行A股股票的预案，合计融资5200亿元，用以补充核心一级资本。消息一经发布就引起 了市场的关注。 其中，涉及邮储银行的定向增发规模将达到1300亿元。据悉，这将是邮储银行成立以来最大规模的融资 项目。根据公告，财政部将向邮储银行注资1175.80亿元，一跃成为邮储银行第二大股东；而邮储银行 现有两家主要股东，即中国移动集团和中国船舶集团，将再次加码增持，分别注资78.54亿元和45.66亿 元。 在定价发行对象选择以及后续安排，邮储银行有哪些考虑？本次注资计划对邮储银行的投资者将带来哪 些影响？注资之后，邮储银行又将有怎样的变化？2025年4月2日，在邮储银行2024年度业绩发布会上， 管理层对此一一进行回应和介绍。 邮储银行董事长郑国雨首先进行了总体介绍。郑国雨表示，国家已将邮储银行纳入特别国债的首批注资 行，通过财政部和战略股东增资1300亿元，预计将提升该行核心一级资本充足率1.5个百分点。同时， 作为唯一一家没有实施资本计量高级法的国有大行，邮储银行正在加快推进高级法落地。"'国家注 资'和未来' ...

事项： 公司公告：邮储银行发布《向特定对象发行A 股股票预案》，拟向财政部、中国移动集团和中国船舶集 团发行A 股股票205.70 亿股，发行价格为6.32 元/股，募集资金总额为人民币1300 亿元，扣除相关发行 费用后将全部用于补充核心一级资本。 邮储银行拟定增1300 亿元用于补充核心一级资本邮储银行发布《向特定对象发行A 股股票预案》，拟 向财政部、中国移动集团和中国船舶集团发行A 股股票205.70 亿股，发行价格为6.32 元/股，募集资金 总额为人民币1300 亿元，扣除相关发行费用后将全部用于补充核心一级资本。 2024 年末总资产同比增长8.6%至17.1 万亿元，规模增长保持稳健。（3）净息差降幅略有收窄。公司披 露的2024 年日均净息差1.87%，同比降低14bps，降幅较前三季度收窄。（4）资产质量仍然较为优异， 风险抵补能力充足。公司2024 年末不良率0.90%，较年初上升0.07 个百分点；关注率0.95%，较年初上 升0.28 个百分点；逾期率1.19%，较年初上升0.28 个百分点。公司披露的不良生成率为0.84%，同比基 本稳定。年末拨备覆盖率286%，较年初下降62 个 ...

今年《政府工作报告》明确提出，拟发行特别国债5000亿元，支持国有大型商业银行补充资本。在国有 大行核心一级资本补充政策加速落地的风口，中国银行率先行动，拟募资不超过1650亿元夯实资本底 盘。 "核心一级资本是银行服务实体经济、实现自身高质量发展的关键驱动，国有大行的资本充足水平直接 关系到实体经济的金融支持能力及金融系统的稳定性。"葛海蛟表示，为国有大行补充资本能够有效拉 动社融增长，特别是为提振消费、扩大内需、发展新质生产力等重大战略领域注入充沛的金融"活水"。 中国银行率先行动，拟募资不超过1650亿元夯实资本底盘。 历经半年的酝酿，国有大行增资方案最终落地。 中国银行3月30日首批公告，通过向财政部定向增发的方式，补充1650亿元核心一级资本。如何看待此 次资本补充的重要意义？如何影响中国银行未来发展？日前，中国银行董事长葛海蛟接受第一财经记者 的独家专访，介绍本次中国银行资本补充的有关情况。 "此次定增为国有上市商业银行充实资本金探索出全新路径。"葛海蛟认为，为国有大行增加核心一级资 本，既是稳增长、扩内需、化风险的一揽子增量政策举措之一，更是加快金融强国建设的战略性、前瞻 性部署，传递出实施更加 ...

Core Viewpoint - The four major state-owned banks in China are conducting a targeted issuance of A-shares to specific investors, primarily to stabilize stock prices and supplement capital, with a total subscription amount of 500 billion yuan from the Ministry of Finance [2][6]. Group 1: Capital Increase and Stability - The targeted issuance aims to balance stock price stability and capital supplementation, with the issuance price set at a premium to protect the interests of existing shareholders [4][6]. - The core tier 1 capital adequacy ratios for the four banks are robust, meeting the requirements for globally systemically important banks (GSIB) [2][3]. - The issuance is a response to regulatory support for capital supplementation among major state-owned banks, with thorough communication with stakeholders [2][3]. Group 2: Pricing and Shareholder Interests - The issuance prices for the banks are set at 6.05 yuan, 9.27 yuan, 8.71 yuan, and 6.32 yuan per share, representing a premium over recent market prices [4][5]. - The pricing strategy aims to minimize the dilution of existing shareholders' rights while ensuring compliance with regulatory requirements [4][5]. - The banks emphasize that the issuance will enhance their risk resilience and overall financial stability, benefiting all shareholders in the long run [5][6]. Group 3: Focus on Economic Support - The capital increase will enhance the banks' ability to support the real economy, particularly in sectors like technology, small and micro enterprises, green finance, and the elderly care industry [7][8]. - The issuance of special government bonds is expected to leverage the capital, potentially increasing credit availability by approximately 4 trillion yuan [7]. - The banks are committed to optimizing their asset structures and focusing on sustainable growth areas to better serve the economy [8].

央视网消息：3月30日，中国银行、建设银行、交通银行、邮储银行分别发布公告宣布拟向特定对象募集资金，用于补充银行核心一级资本。 根据各家银行公告：中国银行拟向特定对象发行A股股票，由财政部以现金方式认购，募集资金规模不超过1650亿元。中国建设银行拟引入财政部战略 投资，募资总额不超过1050亿元。交通银行计划募集资金总额1200亿元，发行对象为财政部、中国烟草。邮储银行拟向财政部、中国移动集团和中国船舶集 团发行A股股票，募集资金总额为1300亿元。 各家银行募集的资金，在扣除相关发行费用后将全部用于补充核心一级资本。核心一级资本是商业银行服务实体经济、推动自身高质量发展的关键驱 动。 中国银行资产负债部总经理周权称："本次资本补充，有助于国有大型商业银行进一步夯实资本实力，优化资本结构，提升稳健经营能力和防范风险能 力，更好发挥服务实体经济的'主力军'和维护金融稳定的'压舱石'作用。" 交通银行总行财务管理部总经理陈隃称："支持国有大型商业银行补充核心一级资本是国家一揽子增量政策的重要组成部分，将有力保障金融体系平稳 运行，有力支持国有大行在服务经济转型发展等方面发挥更大作用。" 财经老王：银行补充资本对 ...

Core Points - The Ministry of Finance has announced a capital injection of 500 billion yuan into four state-owned banks, including Bank of China, China Construction Bank, Bank of Communications, and Postal Savings Bank, through the issuance of A-shares [1][3] - This capital injection is part of a broader plan to enhance the core Tier 1 capital of six major commercial banks, with the aim of improving their ability to serve the real economy and withstand risks [4][5] - The capital raised will be used entirely to supplement the banks' core Tier 1 capital, which is crucial for their operational stability and risk management [4][8] Summary by Category Capital Injection Details - The specific fundraising amounts for each bank are: Bank of China up to 165 billion yuan, China Construction Bank up to 105 billion yuan, Bank of Communications up to 120 billion yuan, and Postal Savings Bank up to 130 billion yuan [3][4] - The total amount of 500 billion yuan is expected to leverage approximately 4 trillion yuan in credit growth, enhancing the banks' capacity to support the economy [1][11] Regulatory Context - The capital injection aligns with the government's strategic plan to bolster the capital base of state-owned banks, as indicated in the 2025 government work report [5][10] - The core Tier 1 capital adequacy ratios of these banks are currently above regulatory requirements, indicating a proactive approach to capital management rather than a reactive measure to financial distress [1][7] Market Implications - Analysts suggest that this capital injection is designed to provide banks with greater flexibility in credit allocation, particularly in supporting strategic emerging industries and green finance [5][10] - The differentiated approach to capital injection, termed "one bank, one policy," reflects a market-oriented and legal framework for enhancing the banks' capital structures [10][11]

Core Viewpoint - China Construction Bank (CCB) plans to issue A-shares to specific investors, primarily the Ministry of Finance, to raise up to RMB 105 billion to strengthen its core Tier 1 capital and support sustainable business growth [5][20][25]. Group 1: Issuance Overview - The issuance aims to enhance CCB's risk absorption capacity and optimize its capital structure, aligning with regulatory requirements for TLAC (Total Loss-Absorbing Capacity) [20][21]. - The issuance price is set at RMB 9.27 per share, which is 80% of the average trading price over the 20 trading days prior to the pricing benchmark date [10][11]. - The total number of shares to be issued will not exceed 30% of the total share capital before the issuance [11][12]. Group 2: Use of Proceeds - The funds raised will be used entirely to supplement CCB's core Tier 1 capital, supporting future business development [13][20]. - The issuance is deemed necessary to maintain CCB's role in supporting the real economy and enhancing its risk management capabilities [20][21]. Group 3: Regulatory and Approval Process - The issuance requires approval from the China Banking and Insurance Regulatory Commission, the Shanghai Stock Exchange, and the China Securities Regulatory Commission [3][14]. - The decision for the issuance is valid for twelve months from the date of approval by the relevant shareholder meetings [13]. Group 4: Impact on Financial Metrics - Post-issuance, CCB's net asset scale will increase, potentially leading to a short-term dilution of earnings per share and return on equity, but long-term benefits are expected as capital strengthens [25][27]. - The issuance is projected to improve CCB's capital adequacy ratios, enhancing its ability to withstand financial risks [27][28].

Group 1 - The core proposal involves the issuance of A-shares by Bank of Communications to specific investors, aiming to raise up to RMB 120 billion to supplement the bank's core tier one capital [2][11][19] - The issuance is subject to approval from the bank's shareholders and regulatory authorities, including the Shanghai Stock Exchange and the China Securities Regulatory Commission [2][16] - The issuance price is set at RMB 8.71 per share, which is not less than 80% of the average trading price over the 20 trading days prior to the pricing benchmark date [3][11][19] Group 2 - The main investors in this issuance include the Ministry of Finance, China Tobacco, and Shuangwei Investment, with the Ministry of Finance expected to subscribe for RMB 112.42 billion worth of shares [3][11][21] - The issuance constitutes a related party transaction, and the bank's independent directors have reviewed and approved the transaction [3][15] - The shares subscribed by the investors will be subject to a five-year lock-up period, during which they cannot be transferred [12][21][29] Group 3 - The issuance is part of the bank's strategy to enhance its capital adequacy in response to increasing regulatory requirements for capital quality and adequacy [9][10][26] - The bank aims to leverage external financing tools to strengthen its capital base, thereby improving its ability to serve the real economy and maintain financial stability [10][26][27] - The collaboration with strategic investors is expected to create synergies that enhance the bank's risk management and credit capacity [27][28][29]

Group 1 - The core purpose of the issuance is to enhance the bank's capital strength, supporting its ability to serve the real economy and improve market confidence [2][9][16] - The total amount to be raised through the issuance is not to exceed 165 billion RMB [1][2] - The issuance will be directed towards increasing the bank's core Tier 1 capital, thereby improving its capital adequacy ratio and risk resistance capabilities [2][9] Group 2 - The securities to be issued are domestic listed ordinary shares (A shares) with a par value of 1.00 RMB per share [3][4] - The issuance is deemed necessary as it will help the bank maintain sufficient capital levels and enhance its service capabilities in various financial sectors [3][4] - The issuance will be conducted through a private placement to a specific object, which is the Ministry of Finance, ensuring minimal market impact [4][5] Group 3 - The pricing of the shares is set at 6.05 RMB per share, which is not lower than 80% of the average trading price over the 20 trading days prior to the pricing benchmark date [5][15] - The pricing method and procedures comply with relevant regulations, ensuring transparency and fairness in the issuance process [6][14] Group 4 - The issuance process has been approved by the bank's board of directors and will require further approval from the shareholders' meeting and regulatory authorities [14][15] - The issuance is structured to ensure that the control of the bank remains unchanged post-issuance, aligning with regulatory requirements [13][14] Group 5 - The bank has committed to measures to mitigate the dilution of immediate returns for existing shareholders, ensuring protection of minority investors' interests [16] - The overall issuance plan is considered fair and reasonable, aligning with the bank's long-term development strategy and benefiting all shareholders [16]

Group 1 - The core objective of introducing the strategic investment from the Ministry of Finance is to enhance the bank's ability to resist risks and increase credit issuance capacity, thereby better serving the real economy and ensuring the safety and efficiency of state-owned assets [1][2] - The strategic investment from the Ministry of Finance is expected to optimize the layout of state-owned capital, enhance the effectiveness of fiscal policy transmission, and strengthen the execution of national strategies, contributing to the stability and prosperity of the national economy [2] - The funds raised from this issuance will be used entirely to supplement the bank's core tier one capital, supporting future business development [2] Group 2 - The Ministry of Finance, established in October 1949, is responsible for managing the country's fiscal revenue and expenditure, as well as tax policies [2] - The proposed issuance of A-shares to introduce the strategic investment from the Ministry of Finance does not involve any related party transactions [2] - The implementation of this issuance and the introduction of the strategic investment are subject to approval by the bank's shareholders' meeting, regulatory approvals from the National Financial Supervision Administration, Shanghai Stock Exchange, and the China Securities Regulatory Commission [3]