Group 1 - The core idea of the news is the innovative "credit village" model introduced by Agricultural Bank of China in Tianjin to address financing challenges for farmers, enabling timely access to funds for land contracting and agricultural inputs [1][2] - The "credit village" initiative involves collaboration with village committees to establish credit records and provide loans to eligible farmers, thereby reducing loan costs and improving production efficiency [1] - In 2025, a farmer in Baodi District received 3 million yuan in credit loans, allowing for an expansion of 2,000 acres in grain cultivation due to the good credit standing of his farm [1] Group 2 - Agricultural Bank of China has increased its agricultural credit support by simplifying processes and optimizing credit granting methods, ensuring stable financial backing for farmers [2] - A rice grower received a 500,000 yuan "Rural Revitalization e-loan" in 2025, which alleviated his financial concerns regarding the long repayment cycle associated with rice cultivation [2] - The bank's provision of 4.9 million yuan in credit to a trading company facilitated timely storage and processing of grain, ensuring stable market supply during peak sales periods [2] Group 3 - The entire agricultural production chain, from preparation to harvest and value addition, relies heavily on financial support, highlighting the importance of financial services in agriculture [3] - The 20th National Congress of the Communist Party of China emphasized the need for the development of various financial sectors, including technology finance and inclusive finance, which raises expectations for commercial banks to innovate in providing quality financial services [3] - Agricultural Bank of China aims to continue supporting grain production stability and farmers' income growth through financial initiatives [3]

Core Insights - The "Credit Village" initiative by Agricultural Bank of China in Tianjin addresses financing challenges for farmers, enabling timely access to funds for land contracting and agricultural inputs [1][2] - The program involves collaboration with local village committees to provide loans to eligible farmers, utilizing a flexible repayment plan based on crop cycles to reduce loan costs [1] - Financial support is crucial for the entire agricultural production chain, from preparation to harvest and sales, with a focus on enhancing the quality of agricultural products [3] Group 1 - The "Credit Village" model allows farmers like Shen Bingyang to secure loans quickly, exemplified by a 3-day approval for a 3 million yuan loan to expand grain cultivation by 2,000 acres [1] - Agricultural Bank of China has simplified loan processes and optimized credit granting to provide stable financial support for farmers, as seen with a 500,000 yuan loan to rice grower Qin Wei [2] - The bank's financial services are designed to enhance the efficiency of agricultural production and ensure stable market supply, particularly during peak sales seasons [2] Group 2 - The initiative aligns with national policies promoting the development of various financial sectors, including technology and inclusive finance, to support agricultural stability and farmer income [3] - Agricultural Bank of China aims to continuously provide financial resources to ensure food security and support farmers' income growth [3]

● 本报记者 杨洁 近日记者从全国股转公司获悉，2025年，全国股转公司新增受理挂牌申请318家（含直联15家），出具 同意挂牌函333家（含直联11家），一批质地优良、结构多元的企业通过新三板实现规范发展，八成新 增同意挂牌企业属于制造业，新三板在精准对接国家战略、服务实体经济方面成效显著。同时，新三板 与北交所的协同联动不断深化，为中小企业构建起全周期资本市场服务体系，切实发挥多层次资本市场 塔基作用。 增量企业质效双优 全国股转公司介绍，2025年新三板挂牌审核工作始终坚持质量导向，形成"增量带动存量"的良性发展格 局。数据显示，2025年新增同意挂牌企业最近一年平均营业收入达8.50亿元，平均净利润6072.24万元， 平均研发投入2892.79万元，分别是存量挂牌公司2024年对应指标的2.74倍、4.68倍、2.26倍，盈利能力 与创新能力显著优于存量企业。 2025年，新三板精准对接国家战略，将服务实体经济、普惠金融与专精特新培育紧密结合，形成特色鲜 明的市场定位。2025年新增同意挂牌企业中，50.75%为国家级专精特新"小巨人"企业，33.03%为省级 专精特新企业，新三板通过与工信部专精特 ...

编者按： 党的二十届四中全会审议通过"十五五"规划建议，明确提出"加快建设金融强国"，"大力发展科技金融、绿色 金融、普惠金融、养老金融、数字金融"，"优化金融机构体系，推动各类金融机构专注主业、完善治理、错位 发展"。而最近相继召开的中央政治局会议、中央经济工作会议，又提出了明年八大重点任务，以及相关的政 策安排和具体部署。 三十余载砥砺前行，中国资管行业从初步探索到如今跻身全球前列，与经济的蓬勃发展和制度的日趋完善 密不可分。在此期间，公募与私募协同发展的多元生态为资本市场的鼎新革故注入了核心动力，二者的发 展始终与国家改革同频共振，与经济发展浪潮同向而行，与产业升级齐头并进。 长城基金认为，这为接下来五年的金融工作和经济工作提供了基本遵循和根本指南，也为金融机构实现高质量 发展指明了方向。基金公司是我国金融市场的重要参与者、建设者，更是普惠金融服务的创造者、提供者。深 入学习贯彻全会精神，积极投身金融强国建设和中国式现代化大局，是时代赋予的重大责任，也是行业实现高 质量发展的必由之路。 站在"十五五"开启的历史节点，二十届四中全会明确的"高质量发展取得显著成效、科技自立自强水平大幅 提高"等目标，为资本 ...

Core Insights - The People's Bank of China and the National Financial Regulatory Administration have outlined their monetary policy and regulatory framework for 2026, emphasizing the importance of these policies for the banking sector's development path [1] Group 1: Monetary Policy Initiatives - The central bank's monetary policy focuses on precise measures, including interest rate cuts, increased quotas, and expanded scope, to inject strong momentum into the banking sector's support for the real economy [2] - The central bank has lowered the one-year re-lending rate from 1.5% to 1.25%, a reduction of 0.25 percentage points, which expands the available funds for banks and reduces funding costs [2] - A new quota of 500 billion yuan for re-lending to support agriculture and small enterprises has been established, along with a 1 trillion yuan quota specifically for private enterprises [2] - The re-lending quota for technological innovation and transformation has increased from 800 billion yuan to 1.2 trillion yuan, ensuring sufficient funding for tech enterprises and traditional industry upgrades [2] - The down payment ratio for commercial housing has been reduced to 30%, aiding the health and elderly care industries and addressing real estate market inventory issues [2] Group 2: Banking Sector Stability - The net interest margin for the banking sector has stabilized at 1.42%, providing ample room for future policy adjustments [3] - The potential implementation of a reserve requirement ratio cut could further enhance liquidity, supporting both the real economy and maintaining a reasonable net interest margin for banks [3] Group 3: Regulatory Framework - The National Financial Regulatory Administration has set three core tasks for 2026: risk prevention, strong regulation, and promoting development, creating a three-pronged approach [4] - Risk management for small financial institutions is prioritized, with ongoing reforms aimed at improving quality while reducing quantity [4] - A coordinated mechanism for real estate financing will continue to support the completion of housing projects, with over 70 trillion yuan in loans already provided [4] - A four-tier regulatory system has been established, enhancing regulatory capabilities through financial technology and smart regulation [4] Group 4: Focus on High-Quality Development - The banking sector is encouraged to focus on differentiated guidance in five key areas, including inclusive finance, pension finance, green finance, and technology finance, to achieve high-quality development [5] - Financial institutions are advised to leverage their unique strengths rather than pursuing a one-size-fits-all approach, particularly in the context of the upcoming 15th Five-Year Plan [5] - The policies released by the two major departments are expected to provide substantial policy dividends and clear development directions for the banking sector [5]

Core Insights - Guangdong's financial indicators are expected to maintain stable growth in 2025, with growth rates surpassing nominal economic growth, effectively supporting the development of the real economy [1] Group 1: Financial Metrics - By the end of 2025, the balance of various deposits in Guangdong reached 38.7 trillion yuan, a year-on-year increase of 5.7%, with an increase of 2.1 trillion yuan from the beginning of the year, which is 508.3 billion yuan more than the previous year [1] - The balance of various loans in Guangdong reached 29.9 trillion yuan by the end of 2025, with a year-on-year growth of 5.4%, an increase of 1.5 trillion yuan from the beginning of the year, and 282.2 billion yuan more than the previous year [1] Group 2: Sectoral Analysis - All sectors, including households, enterprises, and government agencies, experienced year-on-year increases in deposits, indicating an overall improvement in funding conditions [1] - The balance of loans in the eastern, western, and northern regions of Guangdong grew by 6.5% year-on-year, reflecting a focus on major strategies and key areas [1] Group 3: Specialized Financial Areas - As of the end of November 2025, the balance of loans in technology finance, green finance, inclusive finance, pension finance, and digital finance reached 12.7 trillion yuan, a year-on-year increase of 10.8%, accounting for 79.9% of the total loan increment in the province [2] - Specific loan growth rates include technology loans at 10.7%, green loans at 24.2%, inclusive loans at 7.6%, pension industry loans at 95.0%, and digital economy loans at 10.5% [2] - By the end of 2025, the loan balances for manufacturing and infrastructure sectors reached 3.6 trillion yuan and 6.8 trillion yuan, with year-on-year growth rates of 11.7% and 9.2%, respectively [2]

投资者关系活动类 别 特定对象调研 □分析师会议 □媒体采访 业绩说明会 □新闻发布会 □路演活动 □现场参观 □其他： 参与单位名称及人 员姓名 信达证券张晓辉，大成基金林起渠，博时基金姚城玉 时间 2026 年 1 月 16 日上午 地点 本行 4 楼会议室 上市公司接待人员 姓名 本行高管及相关部门人员 投资者关系活动主 要内容介绍 1.在贷款投放上，2026 年重点投向是哪些？ 答：2026 年我行贷款投放将紧扣"支持实体经济"核心导向，重点投向 以下方向：一是夯实"支农支小"战略定位，加大涉农、普惠小微贷款投放； 二是聚焦金融"五篇大文章"，持续强化对普惠金融、绿色金融、战略性新兴 产业等重点领域的支持力度。 2.贵行核心一级资本充足率目前处于上升趋势，主要是什么原因？ 答：我行核心一级资本充足率持续保持在较高水平，主要源于我行始 终坚持内源性资本在资本补充中的基础地位，以利润留存、资本公积、盈 余公积等内源性方式为主补充资本，以内延式增长推动高质量发展。 附件清单（如有） 无 日期 2026 年 1 月 16 日 1 证券代码：002958 证券简称：青农商行 青岛农村商业银行股份有限公司投资者关 ...

Group 1 - The core point of the article highlights the challenges faced by technology companies in securing funding, particularly in their early stages, and how innovative banking practices can provide crucial support [1][2] - The case of "Zhihui Robot," which received a 3.3 million loan from a bank after demonstrating its technology, illustrates the importance of banks understanding the actual needs of tech companies [1] - By the end of 2025, Guangdong's total deposit balance is expected to approach 39 trillion yuan, and loan balance is projected to be nearly 30 trillion yuan, both ranking first in the country, indicating a substantial financial resource pool for economic development [1] Group 2 - Guangdong is focusing on five key areas of financial development: technology finance, green finance, inclusive finance, pension finance, and digital finance, which represent significant directions for capital flow [2] - During the "14th Five-Year Plan" period, loans to technology enterprises are expected to grow at an average annual rate of over 22%, supporting the province's goal of becoming a technology powerhouse [2] - The loan growth for the pension industry in Guangdong reached nearly 95% last year, reflecting a rapid response to social challenges [2]

Core Viewpoint - The article highlights the strategic initiatives and financial innovations in Guangdong province aimed at enhancing economic development through various financial sectors, including technology, green finance, and inclusive finance, as part of the national economic plan for 2025 [2][12]. Financial Performance - By the end of 2025, Guangdong's total deposits and loans remained the highest in the country, with a deposit balance of 38.7 trillion yuan, a year-on-year increase of 5.7% [3]. - The loan balance reached 29.9 trillion yuan, growing by 5.4% year-on-year, with significant increases in loans to enterprises [3][4]. Policy Framework - The People's Bank of China Guangdong Branch implemented a "1+N" policy support system to drive financial resources towards key areas, launching 12 specialized plans to support the "Five Major Financial Articles" [2][4]. Technological Finance Innovations - Guangdong introduced three major service models for technology finance, including "Benefit Enterprises Win-Win Plan" and "Equity Loan Guarantee Rent," to support the entire lifecycle of technology enterprises [5]. - By the end of November 2025, technology loans in Guangdong grew by 10.7%, with significant issuance of technology innovation bonds totaling 110.87 billion yuan [5]. Inclusive Finance Initiatives - The province's inclusive finance efforts led to a 6.5% year-on-year increase in loans in the eastern, western, and northern regions, surpassing the provincial average [6]. - The "Support for Agriculture and Small Enterprises" initiative included a dual mechanism of re-loans and fiscal subsidies, enhancing financial support for small businesses [6][7]. Green Finance Developments - Guangdong's green loans increased by 24.2% year-on-year, with innovative financing mechanisms such as carbon emission quota pledge financing being introduced [9]. - The province was selected as a pilot for green foreign debt, facilitating the registration of green foreign debt amounting to 38.72 million USD by the end of December 2025 [9][10]. Pension and Digital Finance - The pension finance sector saw a remarkable growth of 95% year-on-year, with new cross-border financial services being introduced [11]. - Digital finance initiatives supported the integration of financial services with the real economy, enhancing the efficiency of financial transactions [11][12].

Core Viewpoint - The People's Bank of China (PBOC) has introduced a series of monetary policies aimed at supporting economic transformation and optimization, which has garnered significant public attention [1][2]. Group 1: Monetary Policy Measures - The PBOC has lowered the re-lending and re-discount rates by 0.25 percentage points and increased the re-lending quota for agricultural and small enterprises by 500 billion yuan [1]. - A new re-lending quota of 1 trillion yuan has been established specifically for private enterprises, along with an increase of 400 billion yuan for technological innovation and transformation re-lending [1][2]. - The policies are designed to direct low-cost central bank funds towards major strategies, key areas, and weak links, particularly focusing on inclusive finance, technological finance, and green finance [2]. Group 2: Impact on Financial Institutions - The reduction in re-lending rates will lower the cost for commercial banks to obtain funds from the central bank, encouraging them to offer loans at lower rates to small and micro enterprises and key sectors [3]. - The increase in re-lending quotas and the establishment of special quotas will enhance local financial institutions' ability to identify risks and price loans for small, technological, and green projects [3]. Group 3: Regional Development and Support - The policies align closely with Nanjing's economic structure and strategic positioning, providing substantial policy benefits to the city [4]. - Nanjing's financial institutions can leverage these policies to provide lower-interest loans to specialized enterprises in advanced fields such as integrated circuits, artificial intelligence, and biomedicine [4][5]. - The focus on carbon reduction support tools will facilitate the transformation of traditional industries in Nanjing, enhancing their green and intelligent upgrades [5]. Group 4: Real Estate Market Adjustments - The minimum down payment ratio for commercial property loans has been reduced to 30%, which is expected to restore market confidence and address high inventory levels in commercial real estate [6]. - This adjustment is seen as a specific measure to support inventory reduction in the commercial property market, improving the overall operating environment in Nanjing's real estate sector [6].