Financial Performance - In 2024, the company achieved total revenue of 15.127 billion yuan, a year-on-year increase of 7.70% [2][3] - The net profit attributable to shareholders was 1.485 billion yuan, reflecting a slight increase of 0.46% year-on-year [2][3] - The net profit after deducting non-recurring gains and losses was 1.360 billion yuan, showing a decrease of 0.45% compared to the previous year [2][3] - The net cash flow from operating activities was 2.104 billion yuan, up by 7.58% year-on-year [2][3] - Basic earnings per share for the year were 5.08 yuan, with a weighted average return on equity of 11.48% [2][3][32] Dividend Distribution - The company proposed a dividend distribution plan of 10.15 yuan per 10 shares (including tax) for all shareholders [2] Asset and Liability Changes - As of the end of 2024, the company's trading financial assets increased by 221.44% compared to the previous year, while cash and cash equivalents decreased by 44.14% [48] - Contract liabilities decreased by 58.68%, while other payables increased by 67.04% [51] Research and Development - The total R&D expenditure for 2024 was 97.21 million yuan, representing a year-on-year increase of 2.9% [58] - R&D expenditure accounted for 0.64% of total revenue, a slight decrease of 0.03 percentage points from the previous year [58] Shareholder Changes - New shareholders included Zhonggeng Value Pioneer Stock Fund and National Social Security Fund 110 Combination, replacing previous shareholders [67]

Core Viewpoint - The performance of listed banks in the first quarter of 2025 shows significant divergence, with many large and medium-sized banks experiencing declines in both revenue and net profit, while some smaller banks report stable growth [2][5][6]. Group 1: Performance Trends - A total of 42 listed banks have reported their Q1 2025 results, with 16 banks showing negative revenue growth and 12 banks experiencing a decline in net profit. Among these, 10 banks reported declines in both metrics [5]. - Notably, large state-owned banks and joint-stock banks have seen a slowdown in profitability indicators, with three major state-owned banks among those with declining revenue and net profit [5][6]. - In contrast, some city and rural commercial banks have achieved significant growth in net profit, with banks like Hangzhou Bank and Qilu Bank reporting increases of 17.30% and 16.47%, respectively [6]. Group 2: Income Composition and Variability - The divergence in performance is primarily attributed to differences in net interest income and significant fluctuations in non-interest income. Over 60% of listed banks reported negative year-on-year growth in net interest income [8]. - Among state-owned banks, five reported declines in net interest income ranging from 2.74% to 5.21%, while some smaller banks like Chongqing Bank and Jiangsu Bank saw increases of 28.08% and 21.94%, respectively [9]. - Non-interest income also showed a stark contrast, with 21 banks reporting negative growth in fee and commission income, while some smaller banks experienced increases ranging from 135.53% to 495.23% [9]. Group 3: Net Interest Margin Trends - The overall net interest margin (NIM) for commercial banks continues to face pressure, with only Minsheng Bank reporting a year-on-year increase of 3 basis points to 1.41% [10]. - The largest declines in NIM were observed in Zhangjiagang Bank, which saw a drop of 32 basis points to 1.43%. State-owned banks like Postal Savings Bank and Construction Bank also reported declines [10]. - Many banks indicated that the NIM will continue to be influenced by factors such as LPR adjustments and the repricing of existing loans, although the rate of decline is expected to slow compared to 2024 [10][11]. Group 4: Loan Growth and Deposit Stability - Listed banks have increased loan disbursements while maintaining stable deposit growth. For instance, city commercial banks like Ningbo Bank reported a deposit growth of 18.95% compared to the beginning of the year [12]. - Several banks have improved their deposit costs, with Shanghai Bank reporting a decrease in interest rates for both corporate and personal deposits [12]. - Banks are focusing on enhancing control over liabilities and optimizing asset structures, with an emphasis on increasing low-cost deposits and reducing high-cost liabilities [12][13]. Group 5: Focus on Key Sectors - Banks are intensifying their loan support in key sectors such as technology, green finance, and inclusive finance, with significant growth in these areas. For example, green loans and technology loans at Postal Savings Bank increased by 6.01% and 9.90%, respectively [13]. - The strategy of "volume compensating for price" is being employed to mitigate the impact of declining NIM, with banks like Industrial Bank emphasizing support for green and technology sectors [13].

Core Viewpoint - Yunlu Co., Ltd. (688190) reported a decline in total operating revenue for Q1 2025, while net profit showed a slight increase, indicating mixed financial performance [2][4]. Financial Performance - Total operating revenue for Q1 2025 was 421.06 million yuan, a decrease of 4.87% year-on-year [2][4]. - Net profit attributable to shareholders was 78.91 million yuan, an increase of 4.34% year-on-year [2][4]. - Deducted non-recurring profit and loss net profit was 77.45 million yuan, up 13.05% year-on-year [2][4]. - Basic earnings per share were 0.66 yuan, compared to 0.63 yuan in the same period last year [2][4]. - The weighted average return on equity was 3.10%, down 0.16 percentage points year-on-year [21]. Cash Flow and Assets - Net cash flow from operating activities was -116.89 million yuan, a decrease of 130 million yuan year-on-year [25]. - Total assets at the end of Q1 2025 were approximately 3.25 billion yuan, an increase from the previous year [4][33]. - Significant changes in assets included a 69.82% decrease in other non-current assets and an 88.22% increase in receivables financing [33][36]. Shareholder Structure - As of the end of Q1 2025, the top ten shareholders included a new shareholder, Ruizhong Life Insurance Co., Ltd., replacing a previous fund [43][44]. - The largest shareholder, China Aviation Power Asset Management Co., Ltd., held 28.5% of the shares, unchanged from the previous period [44]. Valuation Metrics - As of April 29, 2025, the price-to-earnings (P/E) ratio was approximately 30.06 times, the price-to-book (P/B) ratio was about 4.24 times, and the price-to-sales (P/S) ratio was around 5.83 times [4].

Financial Performance - The company reported a basic earnings per share of -0.2000 yuan for 2024, a decrease of 300% compared to -0.0500 yuan in 2023 [1] - The net profit for 2024 was -7.18 billion yuan, representing a significant decline of 296.69% from -1.81 billion yuan in 2023 [1] - The operating revenue decreased by 29.98% to 3.34 billion yuan in 2024 from 4.77 billion yuan in 2023 [1] - The return on equity was -100.75% in 2024, a drop of 547.08% from -15.57% in 2023 [1] Shareholder Information - The top ten unrestricted shareholders collectively hold 130,772.68 million shares, accounting for 36.83% of the circulating shares, a decrease of 24,327.57 million shares from the previous period [2] - The largest shareholder, Beiyou Intelligent Technology (Shenzhen) Co., Ltd., holds 80,000 million shares, representing 22.54% of the total share capital, with no change [3] - Notable changes include the exit of China Cinda Asset Management Co., Ltd. and Zheng Shicai from the top ten shareholders [3] Dividend Policy - The company has announced no distribution or capital increase for the current period [4]

Financial Performance - The company reported a basic earnings per share of -0.0900 yuan for 2024, a decrease of 119.57% compared to 0.4600 yuan in 2023 [1] - The net profit for 2024 was -0.12 billion yuan, down 119.67% from 0.61 billion yuan in 2023 [1] - The return on equity (ROE) fell to -0.76% in 2024 from 3.96% in 2023, representing a decline of 119.19% [1] - Operating revenue increased by 3.17% to 7.81 billion yuan in 2024, compared to 7.57 billion yuan in 2023 [1] Shareholder Information - The top ten unrestricted shareholders collectively hold 34.6878 million shares, accounting for 57.17% of the circulating shares, with a decrease of 1.484 million shares from the previous period [1] - The largest shareholder, Yingkou Shengjin Industrial Development Co., Ltd., holds 16.7981 million shares, representing 27.69% of the total share capital, with no change [2] - The second-largest shareholder, Xin Weirong, holds 5.5055 million shares, accounting for 9.07%, also unchanged [2] Dividend Policy - The company has announced no distribution or capital increase for the current period [1]

Financial Data and Indicators - The basic earnings per share for Q1 2025 is 0.0400 yuan, a decrease of 33.33% compared to Q1 2024, which was 0.0600 yuan [1] - The net profit for Q1 2025 is 0.03 billion yuan, down 40% from 0.05 billion yuan in Q1 2024 [1] - The return on equity for Q1 2025 is 1.53%, a decline of 35.71% from 2.38% in Q1 2024 [1] - The total operating revenue for Q1 2025 remains at 0.27 billion yuan, unchanged from Q1 2024 [1] - The net asset per share increased to 2.74 yuan in Q1 2025, reflecting a growth of 6.61% from 2.57 yuan in Q1 2024 [1] - The retained earnings per share rose to 0.84 yuan, an increase of 18.31% from 0.71 yuan in Q1 2024 [1] Shareholder Structure - The top ten unrestricted shareholders hold a total of 28.52 million shares, accounting for 54.46% of the circulating shares, with a change of 0.2771 million shares from the previous period [1] - Liu Jianhui remains the largest shareholder with 17.01 million shares, representing 32.49% of the total share capital [2] - New entrants among the top shareholders include Gao Guangyong with 0.3286 million shares and Jiang Hongji with 0.2135 million shares [2] - Li Kerui and Qu Huaying have exited the top ten shareholders list [2] Dividend Distribution - The company has decided not to distribute dividends or transfer shares this time [3]

Financial Performance - The company reported a basic earnings per share of 0.0700 yuan for Q1 2025, a decrease of 12.5% compared to 0.0800 yuan in Q1 2024 [1] - The total revenue for Q1 2025 was 1.7 billion yuan, representing a 25% increase from 1.36 billion yuan in Q1 2024 [1] - The net profit for Q1 2025 was 0.06 billion yuan, down 14.29% from 0.07 billion yuan in Q1 2024 [1] - The return on equity (ROE) for Q1 2025 was 1.43%, a decline of 11.73% from 1.62% in Q1 2024 [1] Shareholder Structure - The top ten unrestricted shareholders collectively hold 21.38 million shares, accounting for 45.67% of the circulating shares, with a change of 352,000 shares from the previous period [1] - Major shareholders include Li Weihai with 6.89 million shares (14.72%), Wang Hongqi with 6.87 million shares (14.66%), and Li Zhanghao with 2.45 million shares (5.22%), all of whom maintained their holdings [2] - New entry in the top ten shareholders is Huatai Securities Co., Ltd. with 327,100 shares (0.70%), while Liu Yuliang exited with 278,800 shares (0.60%) [2] Dividend Policy - The company has decided not to distribute dividends or allocate shares this time [2]

Financial Performance - The company's basic earnings per share decreased by 58.33% from 0.7200 yuan in 2023 to 0.3000 yuan in 2024 [1] - The net profit dropped by 57.47%, from 0.87 billion yuan in 2023 to 0.37 billion yuan in 2024 [1] - The return on equity fell by 59.47%, from 9.40% in 2023 to 3.81% in 2024 [1] - Total revenue decreased by 10.63%, from 2.54 billion yuan in 2023 to 2.27 billion yuan in 2024 [1] Shareholder Structure - The top ten unrestricted shareholders hold a total of 50.5279 million shares, accounting for 59.11% of the circulating shares, with a decrease of 1.2316 million shares compared to the previous period [1] - The largest shareholder, Wu Jiangnian, holds 24.3391 million shares, representing 28.47% of the total share capital, with no change [2] - The second-largest shareholder, Huang Yonggang, holds 7.38 million shares, representing 8.63% of the total share capital, with no change [2] Dividend Distribution - The company announced a dividend distribution plan of 2.6 yuan per share (including tax) [3]

Financial Performance - The company's basic earnings per share decreased by 37.5% from 0.16 to 0.10 yuan compared to the previous year [1] - Net profit fell by 37.5% to 0.25 billion yuan from 0.4 billion yuan in the previous year [1] - Revenue increased by 18.75% to 22.48 billion yuan from 18.93 billion yuan year-on-year [1] - Return on equity decreased by 39.27% to 1.50% from 2.47% in the previous year [1] Shareholder Structure - The top ten unrestricted shareholders hold a total of 13,487.62 million shares, accounting for 52.94% of the circulating shares, with a decrease of 303.69 million shares compared to the previous period [1] - The largest shareholder, Shao Shuwei, holds 9,489.14 million shares, representing 37.24% of the total share capital [2] - The second-largest shareholder, Shao Qiuping, holds 1,893.60 million shares, accounting for 7.43% [2] Dividend Distribution - The company announced a dividend distribution plan of 0.5 yuan per share (including tax) [3]

数据四舍五入，查看更多财务数据>> 三、分红送配方案情况 二、前10名无限售条件股东持股情况 本次公司不分配不转赠。 一、主要会计数据和财务指标 前十大流通股东累计持有： 504.07万股，累计占流通股比： 12.76%，较上期变化： 504.07万股。 | 报告期指标 | 2025年一季报 | 2024年一季报 | 本年比上年增减(%) | - | | --- | --- | --- | --- | --- | | 基本每股收益（元） | 0.0593 | 0.0654 | -9.33 | - | | 每股净资产（元） | 3.07 | 0 | 0 | - | | 每股公积金(元) | 1.44 | 0 | 0 | - | | 每股未分配利润(元) | 0.59 | | 0 | - | | 每股经营现金流(元) | - | - | - | - | | 营业收入(亿元) | 0.84 | 0.77 | 9.09 | - | | 净利润(亿元) | 0.24 | 0.24 | 0 | - | | 净资产收益率(%) | 1.96 | | 0 | - | | 名称 | 持有数量(万股) | 占总股本比例 | 增减 ...