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 - China Construction Bank Shenzhen Branch is actively supporting the development of the Guangdong-Hong Kong-Macao Greater Bay Area and the Shenzhen Special Economic Zone through financial services, with significant increases in loans to technology and strategic emerging industries [2][5][12]. Group 1: Financial Support for Technology and Innovation - As of July 2025, the loan balance for technology enterprises reached nearly 130 billion yuan, with an increase of nearly 20 billion yuan since the beginning of the year [5]. - The bank has developed a "technology flow" evaluation system to assess the technological value of enterprises, facilitating rapid loan approvals for small technology firms [5][6]. - The bank has provided over 120 billion yuan in loans to technology enterprises in 2025, serving more than 20,000 technology companies [5][6]. Group 2: Activation of Domestic Consumption - The bank has launched various consumer loan products, with personal consumption loans exceeding 18 billion yuan in the first half of 2025 [7]. - Special promotional activities have been implemented, including a "trade-in" program that has attracted over 11,000 participants and generated transaction orders worth 70.62 million yuan [8]. - Marketing efforts have included partnerships with major brands, resulting in significant consumer engagement and transaction volumes [8]. Group 3: Support for Foreign Trade - The bank has introduced cross-border financial services to support foreign trade, including a comprehensive personal cross-border financial plan [9][10]. - Over 2 billion yuan in loans have been provided to foreign trade small and micro enterprises, addressing their financing challenges [10]. Group 4: Infrastructure Development - The bank is financing major infrastructure projects in the Greater Bay Area, including energy and transportation initiatives, with a focus on enhancing regional connectivity [11]. - A significant investment of nearly 2 billion yuan has been allocated to upgrade the Ma Wan Power Plant, contributing to energy efficiency and environmental sustainability [11]. Group 5: Enhancing Livelihood and Social Services - The bank has introduced innovative housing loan products, including the first shared ownership housing mortgage in the city, amounting to approximately 1.36 billion yuan [12]. - A dedicated pension financial brand has been established to support the aging population, with tailored financial services and credit policies [12]. - The bank has partnered with local government to streamline social security services, enhancing convenience for residents [12]. Group 6: Future Outlook - The bank aims to deepen structural reforms in financial supply and enhance service quality for the real economy, focusing on technology finance, green finance, and inclusive finance [13].