Core Viewpoint - The recent performance of bank stocks has been strong, prompting major shareholders, such as Chongqing Huayu Group, to consider reducing their holdings for profit-taking purposes [1][2]. Group 1: Shareholder Actions - Chongqing Huayu plans to reduce its stake in Qilu Bank by up to 1.1% of the total share capital through block trading within two months, potentially realizing around 380 million yuan based on recent stock prices [1][2]. - As of July 11, 2025, Chongqing Huayu holds 190 million shares of Qilu Bank, accounting for 3.55% of the total share capital, with most shares acquired before the IPO [2]. - This is not the first instance of Chongqing Huayu reducing its stake; in 2024, it sold approximately 63.7 million shares, representing 1.32% of the total share capital, for around 301 million yuan [3]. Group 2: Market Context - The announcement of the reduction coincides with a period of rising bank stock prices, with Qilu Bank's stock increasing by 20% this year and reaching a record high of 6.76 yuan per share on June 24 [2]. - Following the reduction announcement, Qilu Bank's stock price fell by 3.5% on July 15 and continued to decline by 2.89% on July 16 [2]. Group 3: Trading Mechanisms - Chongqing Huayu's current reduction will be executed through block trading, which is typically chosen to minimize immediate market impact compared to regular market trading [4]. - Block trading allows for large transactions to be negotiated outside the public market, with details disclosed after the fact, potentially influencing market sentiment indirectly [4]. Group 4: Industry Insights - The trend of major shareholders reducing their stakes is not isolated, as seen with other banks like Changsha Bank, where a significant shareholder also announced a reduction based on personal funding needs [6]. - Experts suggest that such reductions may indicate that major shareholders perceive bank valuations as high, which could affect investor confidence [6]. - Despite these reductions, analysts believe that the overall valuation of banks remains supported by factors such as low interest rates and ongoing structural transformations within the banking sector [5][7].

2025 年 04 月 20 日 平安银行(000001.SZ) 压力犹存——平安银行 2025 年一季报点评 事件：平安银行公布 2025 年一季报，营收同比增长-13.1%，拨 备前利润同比增长-12.9%,归母净利润同比增长-5.6%，各项业绩 指标较 2024 年报增速均有所回落，我们点评如下： 平安银行今年一季报业绩增长拖累因素主要在于生息资产同比 收缩、净息差下行、非息收入增长放缓；拨备计提同比减轻与税 收减少则对利润增长形成支撑。 生息资产扩张乏力。今年一季度，平安银行生息资产（日均余 额口径）同比增速为-0.15%，连续 2 个季度为负增长，并且从 2023 年开启结构转型以来，资产负债表扩张较为乏力，目前来看这种 迹象也并未改善。观察今年一季度的数据，信贷、债券投资等主 要的生息资产科目均增长较慢，同业业务增长尚可，较慢的扩表 速度也给营收增长、客群经营、市场份额的稳定带来压力。 进一步观察信贷增长趋势。①从日均余额口径来看，信贷同比增速为 -1.41%，其中一般对公信贷增长较快，而票据贴现、零售信贷仍为负 增长，并且 Q1 新增信贷规模同样呈现"一般对公贷款强、零售与票据 贴现弱"的特征。 ...