Core Viewpoint - Minsheng Bank's performance in the first half of 2025 shows a contradiction between revenue growth and a decline in net profit, indicating growth bottlenecks and deeper structural issues within its business [1][3]. Financial Performance - As of June 30, 2025, Minsheng Bank's total assets were 7.77 trillion RMB, a decrease of 0.59% from the end of the previous year. The bank achieved operating income of 72.384 billion RMB, a year-on-year increase of 7.83%, while net profit attributable to shareholders fell by 4.87% to 21.38 billion RMB [3][4]. - The bank's net interest income was 49.203 billion RMB, a slight increase of 1.28%, while non-interest income surged by 25% to 23.181 billion RMB, indicating a reliance on non-traditional income sources [5][6]. Asset Quality and Risks - The total non-performing loans (NPLs) amounted to 66.052 billion RMB, with an NPL ratio of 1.48%, showing a slight increase from the previous year. The bank's credit card segment is facing rising risk pressures [9][10]. - The real estate sector's NPL ratio improved significantly from 5.01% to 3.48%, while corporate NPLs decreased, indicating a mixed performance across different sectors [9][10]. Regional Performance - There is a notable regional performance disparity, with the core economic areas like the Yangtze River Delta and Pearl River Delta showing stable growth, while the Bohai Rim region reported operational losses, highlighting the need for better risk management and resource allocation [11][12][15].