证券之星消息，2025年5月7日长城证券（002939）发布公告称公司于2025年5月7日投资者关系活动记录。 具体内容如下： 问：请如何理解公司一直以来的发展战略？以及下一个阶段的业务重心和具体布局的举措？ 答：公司依托主要股东在电力、能源领域的产业禀赋和雄厚实力，重点打造以"绿色金融、科创金融、产 业金融"为内涵的"科创金融港"；坚持以融强产，持续增加先进制造业、战略性新兴产业、传统产业转型 升级等重点领域的金融服务；坚持以融促创，为低碳能源行业及专精特新等中小型科创企业提供全生命周 期综合金融服务；坚持以产塑融，坚定将公司打造成深耕电力、能源领域的专家型投资银行。 下一阶段，公司将继续坚持"产业券商+一流投行"战略发展总体思路，打牢重资本业务基本盘，大力发展 轻资本业务。财富管理业务继续夯实客户基础，以金融产品和投顾业务为抓手推动财富管理转型；投资银 行业务在再融资与并购重组业务上双向激发股权业务活力，继续发挥好银行间市场牌照优势扩大债券业务 规模；自营投资业务持续优化大类资产配置结构，合理控制仓位，稳定贡献收益；机构业务积极提升研究 能力，聚焦重点客户提供深度服务。 5.当前股东对公司的考核指标主要有 ...

Core Viewpoint - Hunan Province is evolving as a significant transportation hub and an innovative ground for the transformation of traditional industries and the integration of emerging industries, with Changsha Bank playing a crucial role in this development [1] Group 1: Financial Performance - Changsha Bank reported total assets of 1.15 trillion yuan, an increase of over 120 billion yuan year-on-year, marking three consecutive years of asset growth exceeding 100 billion yuan [1] - For the year 2024, the bank achieved an operating income of 25.94 billion yuan, a year-on-year increase of 4.57%, and a net profit attributable to shareholders of 7.83 billion yuan, up 4.87% [2] - The bank's net interest margin stood at 2.11%, with net interest income growing by 2.68% due to optimized deposit structure and effective cost control [2] - As of the end of 2024, the bank's total assets reached 1.1467 trillion yuan, a year-on-year increase of 126.72 billion yuan, representing a growth rate of 12.42% [2] Group 2: Loan and Deposit Growth - County loans accounted for nearly 60% of the bank's new loans, with a county loan balance of 201.37 billion yuan, reflecting a year-on-year increase of 316.72 billion yuan [4] - The bank's county deposit balance reached 234.17 billion yuan, an increase of 29.6 billion yuan, with a growth rate of 14.47% [4] - The bank's "One County, One Specialty" loan program saw a balance of 6.582 billion yuan, a significant increase of 68.1% year-on-year [3] Group 3: Strategic Initiatives - In 2024, Changsha Bank launched its new ten-year strategy, focusing on the "Five Major Articles" of finance, with over 150 billion yuan allocated to these areas [6] - The bank has developed a robust digital finance platform, connecting over 2,300 government services and achieving over 11.6 million users in online channels [7] - The bank aims to become a leading "green ecological bank" by promoting green finance, with a green loan balance of 52.829 billion yuan, up 23.14% year-on-year [6] Group 4: Community Engagement - Changsha Bank is committed to enhancing financial services in rural areas through a three-tiered service network and initiatives like "Thousand Enterprises, Ten Thousand Households" outreach [6][7] - The bank's inclusive finance efforts resulted in a balance of 68.283 billion yuan in loans to small and micro enterprises, an increase of 15.91% [6]

编号：2025-005 | | 特定对象调研 分析师会议 | | --- | --- | | 投资者关系活动 | 媒体采访 业绩说明会 | | 类别 | 新闻发布会 路演活动 | | | 现场参观 其他 | | | 申万宏源 年 月上市公司交流会所邀请的投资者 2025 5 | | 活动参与人员 | 公司品牌与公共关系部负责人 莫莉 | | | 公司董事会办公室投资者关系管理岗 许杨 | | 时 间 2025 | 年 月 日 5 7 9:00-9:50 | | 点 地 | 深圳好日子皇冠假日酒店 | | 形 式 现场 | | | | 1.请问如何理解公司一直以来的发展战略？以及下一个阶段的业务重 | | | 心和具体布局的举措？ | | | 答：公司依托主要股东在电力、能源领域的产业禀赋和雄厚实力， | | | 重点打造以"绿色金融、科创金融、产业金融"为内涵的"科创金融 | | | 港"；坚持以融强产，持续增加先进制造业、战略性新兴产业、传统 | | | 产业转型升级等重点领域的金融服务；坚持以融促创，为低碳能源行 | | 交流内容及具体 | 业及专精特新等中小型科创企业提供全生命周期综合金 ...

转自：新华财经 九江银行坚定转型步伐，精细经营管理，提升战略执行力，走出了一条差异化、特色化发展路径。如何 坚持"党建领行"，如何做好金融"五篇大文章"？近日，九江银行党委书记、董事长周时辛围绕这几方面 内容与网友分享了自己的观点。 主持人：新一届行党委成立以来，九江银行发展态势稳健，成效明显，具体体现在哪些方面？ 周时辛：新一届行党委成立以来，九江银行深刻把握金融工作的政治性、人民性，加强精细化管理，持 续推进优结构、节资本、促合规、控不良、稳增长。主要体现在以下几方面： 一是聚焦党建领航，"进"的动能持续增强。九江银行将党的政治优势、组织优势转化为发展优势，严格 落实"第一议题"制度，开展"书记领航"重点工程，完善党建和业务联动互促工作机制，打造"九久红 银"党建品牌，创新推出"党建链引领产业链"模式。 二是聚力固本培元，"稳"的基础逐步夯实。坚持稳中求进工作总基调，推动量的合理增长和质的有效提 升。至2024年末，全行资产总额同比增长2.5%至5164.59亿元，客户贷款及垫款总额同比增长6.4%至 3208.35亿元，负债总额同比增长2.4%至4739.26亿元，其中客户存款总额3869.64亿元；营 ...

Corporate Governance and Compliance - The company emphasizes the integration of party leadership into corporate governance, becoming the first Sino-foreign joint venture life insurance company to include comprehensive party leadership in its articles of association [1] - The company has established a multi-layered risk prevention mechanism, achieving a comprehensive solvency adequacy ratio of 245.64% and a core solvency adequacy ratio of 144.81% by the end of 2024 [1] Financial Empowerment and Investment - The company focuses on five key areas: technology finance, green finance, inclusive finance, pension finance, and digital finance, to empower the real economy and social welfare [2] - By the end of 2024, the company's technology finance investment reached 2.299 billion yuan, while its green and sustainable investment totaled 21.471 billion yuan [2] - The company has provided inclusive insurance coverage for 705,000 individuals, with a total effective insurance amount of 92.558 billion yuan by the end of 2024 [2] Product Development and Service Efficiency - The company reported a 152.84% year-on-year increase in pension finance product sales, reaching 847 million yuan by the end of 2024 [3] - The company achieved a 99.8% electronic insurance application rate and a claims processing average of 1.08 days, with a total insured amount of 30.1 trillion yuan [3] Talent Development and Marketing Channels - The company implemented the "Three Talents Plan" for talent development, enhancing the professional skills of key personnel [4] - By the end of 2024, the company had partnered with 62 banks in its bancassurance channel, with 5,361 cooperative outlets [4] Social Responsibility and Community Engagement - The company has invested over 45.4 million yuan in public welfare initiatives, launching 294 projects and engaging nearly 7,630 volunteers [4] - The company initiated the "Help Youth Save the Earth" campaign in collaboration with a global environmental organization to raise environmental awareness among young people [4]

Group 1 - The Shanghai branch of the Bank of Communications launched the "Carnival" product to stimulate consumption during the annual "May 5 Shopping Festival," targeting a wide demographic from Generation Z to seniors [1] - The bank introduced consumer incentives such as a cashback offer (spend 500 get 50 back) to lower the cost of upgrading household appliances and digital products, aligning with the national "trade-in" policy [1] - Collaborating with major OTA platforms, the bank offered travel payment discounts and exclusive credit card benefits for cruise and winter sports, while also promoting cultural and artistic experiences [1] Group 2 - The bank's "Enjoy Installment Carnival" focuses on providing installment discounts for new energy vehicles and popular models, extending to digital products and drones, thereby promoting green finance and low-altitude economy consumption [1] - The "Silver Age Neighbors Carnival" targets elderly consumers by offering installment discounts on health services, senior dining, and suitable product purchases, fostering consumption habits among seniors [1] - The Shanghai branch aims to build a "multi-dimensional consumption promotion system" leveraging its 200 million retail users, extending the shopping festival into a sustainable consumption ecosystem for the ongoing prosperity of Shanghai's economy [2]

Core Viewpoint - The company emphasizes high-quality development as a primary task in alignment with national strategies and financial reforms, focusing on enhancing its service capabilities in various financial sectors [1][3][10] Group 1: Strategic Direction - The company is committed to integrating its development with national strategies, particularly in supporting the five key areas of financial services: technology finance, green finance, inclusive finance, pension finance, and digital finance [1][3] - The company aims to deepen its understanding of political and social responsibilities, ensuring that its operations align with the broader goals of the state [2][3] Group 2: Service to the Real Economy - The company prioritizes serving the real economy by providing financial support to small and medium-sized enterprises and engaging in green and low-carbon economic initiatives [3][4] - The company has successfully launched innovative financial products, such as the first special knowledge property asset-backed note for private technology SMEs, enhancing financing channels for these enterprises [3] Group 3: Business Transformation - The company is pursuing a steady transformation towards differentiated and specialized development, establishing a "2+4" business system focusing on asset management and various trust services [5] - The company is enhancing its core investment research capabilities and developing a diverse product portfolio centered around fixed income [5][6] Group 4: Professional Capability Enhancement - The company is focused on improving four key professional capabilities: comprehensive risk management, professional investment research, wealth management, and information technology support [7][8] - The company is implementing a systematic investment research framework to enhance investment strategy precision and performance contribution [7] Group 5: Financial Innovation and Supply-Side Reform - The company is actively involved in supply-side reforms to enhance productivity, particularly by supporting the development of new and traditional industries through various financial instruments [9] - The company has successfully implemented a green industry employee stock ownership plan, demonstrating its commitment to supporting national strategies and the real economy [9]

Core Points - The National Development Bank's Guangxi branch has issued the first project loan of 24.7 million yuan for the Baise pumped storage power station, accelerating project progress and supporting the optimization of Guangxi's energy structure [1] - The Baise pumped storage power station has a total installed capacity of 1.2 million kilowatts and a total investment of over 7.9 billion yuan, making it the first million-kilowatt pumped storage power station of China General Nuclear Power Group [1] - The project is included in the National Energy Administration's "14th Five-Year Plan" key project list for pumped storage development from 2021 to 2035 [1] Financial Support and Project Details - The National Development Bank's Guangxi branch has tailored a loan combination plan of "pre-loan + medium and long-term loan" to meet the project's funding needs, ensuring efficient loan disbursement [1] - The project will provide approximately 1.136 billion kilowatt-hours of clean electricity annually, saving about 590,000 tons of standard coal and significantly reducing emissions of carbon dioxide, sulfur dioxide, and nitrogen oxides [1] Green Finance Initiatives - The National Development Bank's Guangxi branch is committed to increasing green credit investments and promoting green financial products and services to support the comprehensive green transformation of Guangxi's economic and social development [2]

Report Industry Investment Rating No relevant content provided. Core Views of the Report - In 2025, facing a complex internal and external environment, China's central government adheres to the general tone of making progress while maintaining stability, strengthens counter - cyclical macro - policy regulation, and the bond market plays an important role in counter - cyclical adjustment. The bond market focuses on "improving quality and efficiency, serving the real economy", and strengthens direct financing functions through various measures to support key areas and weak links [4]. - The tariff game between China and the US has intensified, increasing the uncertainty of the global economic situation. The risk - aversion attribute of China's bond market has been enhanced, and it is expected to attract more long - term allocation funds. Meanwhile, the bond market has increased support for key areas such as science and technology innovation and green development, and tried to improve the financing environment of private enterprises, but the effect still needs time to show [3][4]. Summary by Directory External Environment - The continuous escalation of the China - US tariff dispute has a great impact on market sentiment. After the tariffs are implemented, global risk assets are under pressure, and funds flow into safe - haven assets. China's bond market has strengthened significantly. The relative attractiveness of US dollar assets has decreased, which may boost foreign capital's demand for RMB bonds [3]. - In the recent tariff conflict, the US has continuously increased tariffs on Chinese goods, which has affected China's import and export and economic fundamentals. The yields of Chinese treasury bonds and credit bonds have generally declined, and the 10 - year treasury bond yield is still at a low level [6][7][8]. - Affected by tariff policies and market risk - aversion sentiment, US stocks, US bonds, and the US dollar have all declined. The Fed's subsequent interest - rate policy is uncertain. The narrowing of the yield spread between Chinese and US 10 - year treasury bonds may attract more long - term foreign capital to allocate RMB bonds [9]. Key Areas - In the first quarter, the bond market increased its support for science and technology innovation and green development, releasing policy dividends. The support policies for science and technology finance have been upgraded in terms of specification and frequency, with new measures such as the "science and technology board" of the bond market [3][10][11]. - For green finance, policies have been deepened from multiple aspects. The Ministry of Finance issued a green sovereign bond framework and successfully issued 6 billion RMB of green sovereign bonds overseas, which is conducive to diversifying financing channels and promoting international green finance cooperation [15][16]. - In the first quarter, the issuance of innovative bond varieties was hot. The issuance volume of innovative products exceeded 300 billion yuan, of which science and technology innovation bonds accounted for about 80% and green bonds were nearly 60 billion yuan. There is still room for expansion in the science and technology innovation and green bond markets [17]. Weak Links - In the first quarter, the issue of private enterprise development has attracted more attention. The central government has released clear support signals, and bond market regulators have also taken measures to boost market confidence and optimize financing support [19]. - Multiple departments have held symposiums on private enterprises, emphasizing the need to solve the problems of difficult and expensive financing for private enterprises. The bond market has optimized basic mechanisms to increase financing services for private enterprises [20][21]. - Although a series of support measures are conducive to improving the financing environment of private enterprises, due to the time - lag of policy transmission and low market risk preference, the credit bond financing scale of private enterprises in the first quarter was limited, and it still takes time to improve [23]. Basic Systems - In the first quarter, the bond market continued to optimize basic systems. The inter - bank and exchange markets optimized trading and settlement mechanisms, reduced transaction costs, and attracted more medium - and long - term funds [24][25]. - The exchange market standardized debt - restructuring bond replacement business and revised the review guidelines for corporate bond issuance and listing, which is conducive to strengthening credit risk management and improving the transparency of bond issuance review [26].

Core Viewpoint - The ESG (Environmental, Social, and Governance) concept is becoming a key force in promoting sustainable development amid global climate crises and social inequality, with a focus on leveraging regional financial advantages and industrial clusters to enhance sustainable information disclosure and achieve high-quality economic development [1] Group 1: Policy and Standards - Regions in China should actively explore the establishment of sustainable information disclosure policies and standards that align with international norms and domestic needs, drawing from global standards like GRI and TCFD [2] - Local financial institutions should integrate these policies into their business processes, ensuring compliance in project approvals and risk assessments to provide scientific decision-making support [2] - The development of policies should consider the characteristics and needs of financial institutions, encouraging their participation in the policy-making process to ensure feasibility and effectiveness [2] Group 2: Information Disclosure Mechanism - Establishing a unified ESG information disclosure standard is essential to enhance the normativity and mandatory nature of disclosures across industries [3] - Financial institutions should incorporate ESG factors into due diligence and risk assessment processes, ensuring that information disclosure is closely integrated with business operations [3] - Collaboration with local governments and regulatory bodies is crucial for building an effective information disclosure mechanism, utilizing fintech to optimize disclosure processes [3] Group 3: Financial Market and Industrial Cluster Advantages - Financial markets in China should leverage their comprehensive elements to direct more capital towards low-carbon emission sectors, strengthening the carbon finance ecosystem [4] - Financial institutions are encouraged to develop green credit businesses and explore green bonds and carbon finance, linking financial services with local industrial upgrades [4] - Collaboration among financial institutions is vital to develop green financial products and services, enhancing credit support for low-carbon sectors [4] Group 4: Innovation in Green Financial Products and Services - Continuous innovation in green financial products and services is necessary, promoting various carbon-related financial instruments to support the green transformation of the economy [5][6] - Financial institutions must ensure comprehensive and accurate disclosure of environmental benefits and risks associated with new products, enhancing transparency for investors [6] - The development of unique green financial products should consider market demands and regional characteristics, improving their attractiveness and credibility [6] Group 5: Talent Development and International Cooperation - Green finance talent should be included in the list of scarce talents, with efforts to attract and cultivate professionals with international perspectives [7] - Strengthening exchanges with international financial centers can introduce advanced concepts and practices, enhancing local financial institutions' capabilities in sustainable information disclosure [7] - Financial institutions should focus on building a skilled workforce knowledgeable in both finance and ESG principles, participating in international exchanges to improve competitiveness [7]