Core Viewpoint - The article discusses the recent shareholder meeting of China Merchants Bank (CMB), highlighting the bank's strategies to navigate low interest rates and its focus on long-term investments and regional development strategies [2][8]. Group 1: Financial Performance and Strategies - CMB's net interest margin (NIM) has dropped below 2%, with the banking industry's average NIM at 1.43% in Q1, raising concerns about sustainable profitability [3][4]. - The bank aims to maintain a leading NIM compared to peers, which is crucial for covering various costs and ensuring value creation in its asset business [3][5]. - CMB's stock price closed at 47.5 yuan per share on June 25, reflecting a year-to-date increase of nearly 21%, while its H-shares have risen over 40% for the year [2]. Group 2: Transformation and Development Strategies - CMB is accelerating its "Four Transformations" strategy to enhance its resilience in a low-rate environment, focusing on internationalization, comprehensive operations, differentiated competition, and digital transformation [6][7]. - The bank's regional development strategy, initiated in 2022, aims to strengthen its presence in key provinces, with positive results in customer and loan growth compared to other regions [8]. Group 3: Investment and Fund Distribution - CMB has recognized the need to improve its fund distribution capabilities, particularly in the ETF market, and is enhancing partnerships with leading asset management firms [10][11]. - The bank's investment assets have increased, driven by proactive bond investments during the interest rate decline, indicating a long-term shift in asset allocation strategy [12].