Group 1: Report Overview - The report is about the institutional research on CNPC Capital on August 7, 2025, with the research industry being diversified finance [1][2][17] Group 2: Research Details 1. Basic Research Information - Research object: CNPC Capital [17] - Industry: Diversified finance [17] - Reception time: 2025 - 08 - 07 [17] - Reception staff: Securities Affairs Representative Wang Yungang and staff from the Securities Affairs Department [17] 2. Detailed Research Institutions - Fund management company: Wells Fargo Fund, with related personnel Xu Jianrong [20] 3. Research Institution Proportion - No specific content provided [21] 4. Main Content Data - **Business development strategy**: CNPC Capital has established an "11445" strategic system, aiming to be an internationally well - known and domestically first - class financial service enterprise integrating industry and finance, and an expert and leader in energy financial services. It implements four major strategies and fulfills four platform functions, and develops five major businesses [22] - **Dividend policy**: The company has adopted a continuous and stable cash dividend policy for many years. Since its restructuring and listing in 2017, it has distributed cash dividends at a standard of not less than 30% of the net profit attributable to the parent company each year. In 2024, it implemented an interim dividend for the first time, with the dividend ratio increasing to 31.8%. As of 2024, the cumulative cash dividend was 1.5044 billion yuan [22] - **Stablecoin business**: The company currently does not involve related businesses. It is organizing research on relevant policies and will conduct business in a legally compliant, prudent and stable manner [24]

Core Viewpoint - Recently, Industrial Bank's Nanning Branch provided a loan of 86.8 million yuan to a listed new energy vehicle company for the construction of an intelligent manufacturing project for hybrid crankshafts, supporting the company's smart manufacturing upgrade [1][2]. Group 1: Financial Support and Strategy - The loan is part of a broader strategy by Industrial Bank to accelerate the layout of five new financial sectors: science and technology finance, inclusive finance, energy finance, automotive finance, and park finance [1]. - The Nanning Branch has tailored financing solutions for the new energy vehicle company by optimizing approval processes, matching special quotas, and offering preferential interest rates to ensure funds reach the company's R&D and production frontline [2]. - As of now, the Nanning Branch has cumulatively provided 276.93 million yuan in loan support for the project, assisting the company in optimizing financial management and reducing financing costs [2]. Group 2: Technological and Economic Integration - The Nanning Branch employs a "technology flow" credit evaluation system, converting the company's patent technology, R&D investment, and market prospects into financing "hard currency," providing long-term stable credit support [2]. - The bank continues to optimize its "commercial bank + investment bank" service model to offer a comprehensive suite of financial services, including investment-loan linkage, supply chain finance, and cross-border settlement, aiding the company in achieving sustainable development [2]. - The Nanning Branch aims to integrate "park finance + technology finance" to construct a comprehensive financial ecosystem that provides timely financial assistance to high-tech industrial clusters [3].