Core Viewpoint - Tongda Group (00698.HK) announced the investment of idle funds into various financial products, indicating a strategic move to optimize asset management and enhance returns [1] Group 1 - The company plans to subscribe to several financial products through its indirect non-wholly owned subsidiary, Tongda Chuangzhi [1] - The subscription amounts for the financial products are as follows: RMB 10 million for China Post Financial Products, RMB 10 million for Xinyin Financial Products, and RMB 30 million for China Merchants Bank Financial Products [1]

Core Viewpoint - Tongda Group (00698) announced that its indirect non-wholly owned subsidiary, Tongda Chuangzhi, will utilize idle funds to subscribe to several wealth management products, indicating a strategic move to optimize asset management and generate returns [1] Summary by Category Financial Activities - Tongda Chuangzhi will subscribe to wealth management products from various institutions, including China Post Wealth Management, Xinyin Wealth Management, and China Merchants Bank Wealth Management [1] - The subscription amounts are RMB 10 million for China Post Wealth Management, RMB 10 million for Xinyin Wealth Management, and RMB 30 million for China Merchants Bank Wealth Management, totaling RMB 50 million [1]

Group 1 - The core point of the article is that Tongda Group (00698) announced its indirect non-wholly owned subsidiary, Tongda Chuangzhi, will invest in several financial products using idle funds [1] - The company will subscribe to three financial products, including those from China Post, Xinyin, and China Merchants Bank, with subscription amounts of RMB 10 million, RMB 10 million, and RMB 30 million respectively [1]

Core Insights - Postal Savings Bank of China (PSBC) reported a stable yet progressive performance for the year 2024, focusing on resource optimization and management efficiency [1] Financial Performance - As of the end of 2024, PSBC's total assets reached 17.08 trillion yuan, an increase of 8.64% year-on-year, while total liabilities grew by 8.69% to 16.05 trillion yuan [1] - The bank's operating income was 348.775 billion yuan, reflecting a year-on-year growth of 1.83%, positioning it among the top state-owned banks in terms of growth rate [1] - Total profit amounted to 94.592 billion yuan, marking a 3.27% increase compared to the previous year [1] - The net interest margin stood at 1.87%, maintaining a leading position in the industry [1] Retail Banking Strategy - PSBC adhered to a first-class large retail banking strategy, focusing on enhancing six core capabilities and fine management to stimulate internal growth [2] - Personal deposits reached 13.63 trillion yuan, with an increase of 1.13 trillion yuan, while personal loans rose to 4.77 trillion yuan, up by 300 billion yuan [2] - The bank's assets under management (AUM) for personal clients reached 16.69 trillion yuan, with significant growth in high-net-worth clients [2] - Consumer loans increased by over 130 billion yuan, with housing loans leading among state-owned banks [2] Financial Services and Market Position - PSBC is committed to improving the quality and reasonable growth of its financial services, optimizing resource allocation, and enhancing management efficiency [2] - The number of corporate clients reached 1.8041 million, with a year-on-year increase of 13.21%, and the number of main bank clients grew significantly [2] - The bank has developed a comprehensive financial service system for technology enterprises, with a client growth rate exceeding 30% and financing balance increasing over 40% [2] Market Differentiation and Growth - PSBC is focused on creating differentiated growth in the financial market, enhancing its ecosystem through a customer-centric approach [3] - As of the end of 2024, the asset scale of funding business reached 6.84 trillion yuan, with policy financial bond underwriting amounting to 257.2 billion yuan, a year-on-year increase of 193.27% [3] - The bank's asset management scale surpassed 5 trillion yuan, with fee income growth outpacing the industry average by 13.17 percentage points [3] - The scale of wealth management products exceeded 1 trillion yuan, reflecting a growth rate of 31.68% year-on-year [3] - The "You Win Together" platform achieved a cumulative transaction volume exceeding 5 trillion yuan, further expanding its influence in the industry ecosystem [3]