Core Viewpoint - Nanjing Securities reported steady growth in its performance for the first half of 2025, actively contributing to the real economy and returning value to investors while adapting to a complex market environment [1][2][3] Group 1: Financial Performance - The company achieved a solid increase in net profit compared to the same period last year, maintaining a steady growth trajectory [1] - Key performance indicators such as new account openings, stock fund trading volume, and the scale of client wealth management products showed significant growth [1] Group 2: Business Development - Nanjing Securities focused on enhancing its functional role, successfully assisting enterprises in issuing innovative bonds and expanding its business layout in various debt markets [2] - The company launched projects like "Insurance + Futures" to provide price risk management services to agricultural stakeholders, contributing to rural revitalization [2] Group 3: Investor Relations and Corporate Governance - The company has a long-standing commitment to a stable and active profit distribution policy, with a planned cash dividend payout of 47.11% of the net profit for 2024 [3] - Nanjing Securities emphasizes investor education and protection, receiving favorable ratings in the 2025 securities company investor education assessment [3]

Financial Performance - In the first half of 2025, the company achieved consolidated revenue of 11.075 billion yuan, a year-on-year increase of 51.84%, and a net profit attributable to shareholders of 5.367 billion yuan, up 71% year-on-year. The growth rates for revenue and net profit are among the highest in the large listed brokerage firms [1] - The weighted average return on equity for the first half of 2025 was 5.26%, an increase of 2.22 percentage points year-on-year, marking the highest level for the same period since 2022 [1] Business Development Highlights Wealth Management Business - The company's wealth management business has effectively enhanced customer quantity and quality through "digital" and "institutional" development. As of June 30, 2025, the company's brokerage business client custody assets exceeded 2.6 trillion yuan, a growth of 7.5% compared to the end of the previous year. The number of mobile securities users exceeded 30.85 million, up 6.38% year-on-year [2] - In the first half of 2025, the wealth management and institutional business generated revenue of 5.215 billion yuan, a year-on-year increase of 44.76% [2] Proprietary Investment Business - The investment and trading business capitalized on market opportunities, achieving revenue of 5.447 billion yuan in the first half of 2025, a year-on-year increase of 60.87%. The company employed strategies such as dividend investment, value growth investment, and discount protection investment to secure stable returns [3] - The fixed income investment maintained a prudent approach, optimizing asset allocation and exploring customer-driven trading opportunities to enhance returns [3] Support for Real Economy - The company has completed 673 sponsorship and underwriting projects, raising a total of 624.811 billion yuan, including 320 IPO projects that raised 216.195 billion yuan. The company has provided financing services to 982 enterprises across 31 provinces, with a financing scale of 5.71 trillion yuan [3] - The company has formed a comprehensive service system covering various sectors, including lithium batteries, automobiles, high-end equipment, and smart terminals [3] Support for National Strategies - The company has actively contributed to the development of the Guangdong-Hong Kong-Macao Greater Bay Area, completing 156 sponsorship and underwriting projects with a total fundraising of 125.599 billion yuan as of June 30, 2025 [4] - The company has supported technological innovation through various financing tools and has established a comprehensive service system across key regions in China [4] Acquisition Progress - The company received approval from the China Securities Regulatory Commission on August 22, 2025, for the share swap to absorb Wanhe Securities, marking a significant advancement in the acquisition process, which has now entered the implementation stage [5][6]

Core Viewpoint - Postal Savings Bank of China (PSBC) is committed to high-quality development and sustainable growth, focusing on serving the real economy and enhancing its core capabilities to become a leading large retail bank [1][2]. Financial Performance - As of June 30, 2025, PSBC's total assets reached 18.19 trillion yuan, a 6.47% increase from the previous year, while total liabilities grew by 6.21% to 17.05 trillion yuan [2][4]. - The bank reported operating income of 179.446 billion yuan, up 1.50% year-on-year, and a net profit of 49.415 billion yuan, reflecting a growth of 1.08% [2][4]. Loan and Deposit Growth - Customer loans totaled 9.54 trillion yuan, increasing by 6.99%, with corporate loans rising by 14.83% [4][5]. - Customer deposits reached 16.11 trillion yuan, a growth of 5.37%, with corporate deposits increasing by 13.86% [5]. Capital Management and Risk Control - PSBC successfully completed a 130 billion yuan A-share placement, enhancing its capital adequacy ratios, with a capital adequacy ratio of 14.57% and a core tier-1 capital ratio of 10.52% as of June 30, 2025 [6]. - The bank maintained a non-performing loan ratio of 0.92% and a provision coverage ratio of 260.35%, indicating strong risk management capabilities [6]. Digital Transformation and Innovation - The bank is advancing its digital transformation, processing over 5 billion data entries daily, and has seen a 41.17% increase in approved customers [7][8]. - PSBC is focusing on technology-driven financial services, with a technology loan balance exceeding 930 billion yuan, serving over 100,000 technology enterprises [8]. Strategic Initiatives - PSBC is enhancing its service offerings in rural finance, small and medium enterprises, and personal banking, with a focus on high-efficiency and low-cost operations [10][11]. - The bank is implementing five major actions and seven reforms to optimize its business layout and strengthen its operational resilience [10][11]. Green and Inclusive Finance - PSBC has established 45 green financial institutions, with a green loan balance of 959.639 billion yuan, growing by 11.59% [9]. - The bank is committed to inclusive finance, with agricultural loans totaling 2.44 trillion yuan and small micro-enterprise loans at 1.72 trillion yuan, leading among state-owned banks [8][9].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 POSTAL SAVINGS BANK OF CHINA CO., LTD. 1658 海外監管公告 2025年半年度報告摘要 本公告乃根據《香港聯合交易所有限公司證券上市規則》第13.10(B)條作出。如下 公告已於上海證券交易所網站刊登，僅供參閱。 特此公告。 承董事會命 中國郵政儲蓄銀行股份有限公司 杜春野 聯席公司秘書 中國，北京 2025年8月29日 於本公告日期，本行董事會包括董事長及非執行董事鄭國雨先生；執行董事劉建軍先生 及姚紅女士；非執行董事韓文博先生、劉新安先生、張宣波先生、劉瑞鋼先生、胡宇霆先生、 丁向明先生及余明雄先生；獨立非執行董事溫鐵軍先生、鍾瑞明先生、潘英麗女士、 唐志宏先生、洪小源先生及楊勇先生。 * 中國郵政儲蓄銀行股份有限公司並非一家根據銀行業條例（香港法例第155章）之認可機 構，並不受限於香港金融管理局的監督，亦不獲授權在香港經營銀行及╱或接受存款業 務。 中国邮 ...

Group 1 - The event "Financial Services for the Real Economy" was held in Nanjing, focusing on addressing the financing challenges faced by enterprises and promoting direct financial service policies to support the development of the real economy [1] - Jiangsu province is accelerating the construction of the "1650" modern industrial system, integrating industrial chains, innovation chains, and capital chains [1] - Zheshang Bank aims to enhance financial services for the real economy and support the development of innovative enterprises, emphasizing the importance of human capital in risk assessment [1] Group 2 - Six companies presented projects related to intelligent logistics systems and battery safety management during the roadshow, engaging in deep discussions with investment institutions [2] - The Jinyuzui Fund Street is positioned as an important financial hub in Nanjing, utilizing a "fund + industry + platform" model to create a strong magnetic field for serving the real economy [2] - The "Jinyuzui Daily Roadshow" is the first capital element matching platform in the country, aimed at innovating the investment-loan linkage mechanism and providing precise financial products to enterprises in the frontier technology industry [2]

中证报中证网讯（记者 刘英杰 谭丁豪）8月28日晚间，中信证券（600030）发布的2025年半年度报告显 示，公司上半年实现营业收入330.39亿元，同比增长20.44%；实现净利润137.19亿元，同比增长 29.80%，创中报历史最佳。 各项业务稳步增长 8月28日，中信证券发布2025年中期利润分配方案。方案显示，中信证券将采用现金分红的方式，每10 股派发人民币2.90元（含税），合计派发现金红利人民币42.98亿元（含税），占2025年中期归属于上市 公司普通股股东净利润（未经审计）的32.53%。此次中期分红较2024年中期分红相比，每10股派发金 额由2.40元提升至2.90元，派发现金红利总额从35.57亿元提升到42.98亿元，分红金额同比增长超20%。 中信证券表示，本次现金分红是公司连续第二年开展中期分红。对于投资者而言，中信证券分红总额的 稳步增长，不仅提升了股东回报、增强了市场吸引力，更传递出公司重视长期价值创造、倡导长期持有 的投资理念。 展望下半年，中信证券表示，公司将继续坚持"以客户为中心"理念，充分发挥直接融资"服务商"、资本 市场"看门人"的功能性作用，为企业提供股权及债 ...

Group 1 - The article discusses the development of a unique bill system in revolutionary bases during the Anti-Japanese War, which provided financial support for material supply and economic stability under extreme conditions [1] - The war economy faced severe challenges due to Japanese economic blockades, leading to a need for reliable alternative payment tools as traditional financial systems collapsed [2] - The bill system became a key method to alleviate cash shortages and maintain economic operations, with various types of bills playing critical roles in trade, financial stability, and production support [3][4][5] Group 2 - The article highlights the importance of institutional innovation in the bill system, which aimed to break economic blockades and ensure the supply of essential goods while managing foreign exchange resources [6][7] - Historical experiences from the Anti-Japanese War indicate that financial innovation must be rooted in the real economy and serve the needs of the people [8] - The article emphasizes the need for a robust regulatory framework and credit mechanisms to support the healthy development of the bill market in the current economic context [10][11][12] Group 3 - The article suggests that the cultural aspect of bill usage, emphasizing integrity and trust, played a significant role in the economic development of revolutionary bases [13] - It calls for the promotion of bill culture and the establishment of a sound market ecology to enhance public awareness and acceptance of bills [13] - The article advocates for financial innovation that aligns with national development strategies, particularly in supporting small and medium-sized enterprises and enhancing consumption [14][15][16]

Core Viewpoint - The article highlights the impact of Typhoon "Jianyu" on small and micro enterprises in Sanya, Hainan, and the rapid response of the Industrial and Commercial Bank of China (ICBC) Sanya branch in providing emergency loans to support disaster recovery efforts [1][2]. Group 1: Impact of Typhoon on Businesses - Typhoon "Jianyu" caused severe damage to multiple small and micro enterprises in Sanya, leading to equipment destruction, warehouse damage, and halted cash flow [1]. - A drone manufacturing company experienced significant losses, including damaged performance drones and a collapsed warehouse, resulting in a temporary business suspension [1]. - Another company engaged in sand and gravel trade faced operational difficulties due to inventory being soaked by rainwater, which hindered sales and cash recovery [2]. Group 2: Response from ICBC Sanya Branch - ICBC Sanya branch initiated emergency services by launching inclusive loan programs, streamlining approval processes, and reducing loan approval time to as little as two working days [1][2]. - The drone company received a loan of 3 million yuan, which was used for repairing drones and replenishing inventory, allowing the business to return to normal operations [1]. - The sand and gravel trading company was granted a loan of 1 million yuan, which helped clear damaged inventory and maintain ongoing operations by connecting with new construction clients [2]. Group 3: Future Plans for Support - ICBC Sanya branch plans to focus on disaster recovery and reconstruction, ensuring that financial services remain uninterrupted and that emergency funding is prioritized [2]. - The bank aims to conduct a comprehensive assessment of affected enterprises to address their financial needs and support their recovery and resumption of operations [2].

Core Insights - Shenzhen's transformation over 45 years is highlighted as a remarkable urban development story, with its GDP growing from less than 300 million to over 3.6 trillion yuan, showcasing the role of finance as a catalyst for industrial upgrades and wealth growth [1] - China International Capital Corporation (CICC) has played a crucial role in Shenzhen's financial landscape, supporting the city's development through various financial services and capital market activities [1][5] Group 1: Industry Upgrades and Financial Support - The listing of Fengkan Technology on the Hong Kong Stock Exchange marks a significant milestone as the largest semiconductor IPO in Hong Kong since 2015, emphasizing the importance of financial backing for technological advancements [2][3] - CICC's deep insights into the semiconductor industry have positioned Fengkan Technology as a "domestic alternative breaker," enhancing its market value and showcasing the financial sector's role in fostering innovation [3] - CICC has facilitated the IPO of 46 Shenzhen enterprises, raising over 110 billion yuan, and has supported 26 companies in refinancing, providing essential capital for technological upgrades and capacity expansion [5] Group 2: Global Expansion and Cross-Border Financing - Shenzhen serves as a pivotal hub for Chinese enterprises to expand globally, with CICC providing integrated solutions for cross-border financing and mergers, leveraging its international network [7] - The successful IPO of Fengkan Technology not only raised funds but also established a foundation for its global strategy, aided by CICC's introduction of international investors [7] - CICC has organized events to enhance the confidence of local businesses in international markets, creating platforms for communication and collaboration among enterprises, government, and investment institutions [8] Group 3: Wealth Management and Financial Services - The wealth management landscape in Shenzhen is evolving, with CICC focusing on diverse investment strategies to meet the growing demand for wealth accumulation among residents [9] - CICC has become a pilot institution for the "Cross-Border Wealth Management Connect," enabling residents to access global asset allocation opportunities [9] - The company has developed a multi-tiered advisory service model to cater to different client needs, enhancing financial literacy and investment decision-making among the public [10][11] Group 4: Long-Term Vision and Collaboration - CICC's commitment to supporting Shenzhen's growth aligns with the city's transformation into a high-quality development model, reflecting a symbiotic relationship between financial institutions and urban development [12] - The ongoing collaboration between CICC and Shenzhen's enterprises illustrates the continuous effort to inject capital into innovation and economic growth, ensuring a robust financial ecosystem [12]

Core Viewpoint - The volatility in the pig market prices poses significant uncertainty for breeding enterprises, prompting the practical application of pig futures as a financial tool to inject new momentum into the industry [1] Group 1: Financial Tools and Solutions - Pig futures are transitioning from theoretical discussions to practical applications, providing innovative solutions for the industry [1] - Basis trading facilitates price consensus between supply and demand sides, enhancing market efficiency [1] - The "insurance + futures" model strengthens risk management for small and medium-sized breeding farms [1] Group 2: Market Dynamics and Risk Management - The combination of "futures + orders" streamlines the production and sales chain, improving operational efficiency [1] - Off-exchange options offer flexible adaptations to diverse market needs, catering to various stakeholders [1] - These differentiated solutions act as precise financial support, helping enterprises navigate the complexities of the "pig cycle" [1] Group 3: Impact on the Industry - The innovative practices enhance the ability of enterprises to withstand risks, demonstrating the depth and warmth of financial services in supporting the real economy [1] - The focus on pig futures application models reveals how financial tools can empower stable development in the breeding industry [1]