浙江绍兴瑞丰农村商业银行股份有限公司2025 年半年度报告摘要 公司代码：601528 公司简称：瑞丰银行 浙江绍兴瑞丰农村商业银行股份有限公司 浙江绍兴瑞丰农村商业银行股份有限公司2025 年半年度报告摘要 第一节 重要提示 展规划，投资者应当到 www.sse.com.cn 网站仔细阅读半年度报告全文。 完整性，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 无 第二节 公司基本情况 公司股票简况 | 股票种类 | 股票上市交易所 | 股票简称 | 股票代码 变更前股票简称 | | --- | --- | --- | --- | | A股 | 上海证券交易所 | 瑞丰银行 | 601528 - | | 联系人和联系方式 | | 董事会秘书 | 证券事务代表 | | 姓名 | 章国江 | 曹驰 | | | 电话 | 0575-84788306 | 0575-81117170 | | | | 浙江省绍兴市柯桥区柯桥笛扬路 | | 浙江省绍兴市柯桥区柯桥笛扬路 | | 办公地址 | | | | .2. 报告期公司主要业务简介 本行的业务体系主要分为三个板块：零售金融板块、公司金融板块、金融市 ...

报告显示，储蓄存款总额为3595.7亿迪拉姆，较去年底增长逾400亿迪拉姆。其中，本币存款3055.08亿迪拉姆， 外币存款540.62亿迪拉姆。值得关注的是，定期存款在5月底首次突破1万亿迪拉姆大关，达到1.013万亿迪拉姆，其中 本币6148.54亿迪拉姆，外币3983.48亿迪拉姆。 阿通社8月20日消息，阿联酋中央银行统计公报显示，2025年前五个月，阿央行黄金储备大幅增长25.899%，达 289.33亿迪拉姆，高于去年底的229.81亿迪拉姆。同时，阿联酋银行体系的存款规模持续扩大。5月底，即期存款总额 突破1.166万亿迪拉姆，较去年底的1.109万亿迪拉姆显著增加。其中，本币存款8925.77亿迪拉姆，外币存款2743.29亿 迪拉姆。 （原标题：阿联酋央行黄金储备2025年前五个月增长25%） ...

Core Viewpoint - The company has reported a stable growth in its financial performance for the first half of 2025, with a focus on sustainable development and serving the rural economy, while maintaining a strong asset quality and competitive positioning in the banking sector [6][12][13]. Company Overview - The company aims for high-quality and sustainable development, focusing on serving the "three rural issues and two small enterprises" market positioning, and has implemented a diversified financial service system [5]. - The company has established a clear strategic development pattern, with a strong presence in Jiangsu and a network of 109 service outlets in Changshu, creating a "5-minute" financial service circle [7][8]. Industry Situation - The banking industry is facing a complex operating environment with external uncertainties impacting investment decisions and trade [6]. - Despite challenges, the domestic economy is showing stable growth, and banks are focusing on serving the real economy and preventing financial risks [6]. Financial Performance - The company achieved an operating income of 6.062 billion yuan, a year-on-year increase of 10.10%, and a net profit of 1.969 billion yuan, up 13.51% year-on-year [12]. - Total assets reached 401.227 billion yuan, an increase of 9.45% from the beginning of the year, with total deposits of 310.777 billion yuan and total loans of 251.471 billion yuan [13]. Asset Quality - The company's non-performing loan ratio stood at 0.76%, a slight decrease from the beginning of the year, with a provision coverage ratio of 489.53% [13]. - The village and town banks under the company reported a non-performing loan ratio of 1.05%, remaining stable compared to the beginning of the year [13]. Profit Distribution - The company plans to distribute a cash dividend of 0.15 yuan per share, totaling approximately 497 million yuan, which accounts for 25.27% of the net profit attributable to shareholders for the first half of 2025 [21][23].

Core Insights - The personal pension system in China is rapidly being implemented, leading banks to shift from initial customer acquisition to deep operational strategies focused on customer retention and service innovation [1][4] Group 1: Market Dynamics - As of November 2024, the number of personal pension accounts has reached 72.79 million, indicating significant growth in customer engagement [2] - Banks are expanding their product offerings, including savings deposits, wealth management products, and commercial pension insurance, creating a diverse product matrix [2] - Initial customer acquisition strategies have evolved from "opening accounts with rewards" to more sophisticated incentives for contributions, such as cash rebates and vouchers [2][3] Group 2: Service Innovations - Banks are introducing innovative contribution methods, such as "scheduled contributions," allowing customers to automate their savings, which enhances customer engagement [3] - The focus has shifted from merely attracting new customers to retaining existing ones through comprehensive service upgrades [4][5] - Key competitive strategies include integrating pension accounts with healthcare, insurance, and community services to create a holistic financial and service solution [4] Group 3: Future Competitive Landscape - The competition is expected to intensify as banks aim to deepen account engagement and customer insights, emphasizing the importance of understanding user needs [5] - Short-term strategies involve using contribution incentives to encourage ongoing deposits, while long-term strategies focus on building a comprehensive pension financial ecosystem [5] - Banks that excel in integrating non-financial services and enhancing asset allocation capabilities are likely to gain a competitive edge in the evolving market [5]

Group 1 - The core viewpoint of the news is the announcement by the Ministry of Human Resources and Social Security and the Ministry of Finance to increase the basic pension for retirees by 2% by the end of 2024, benefiting approximately 150 million people [1] - The adjustment primarily affects urban workers' basic pension insurance, which is a key part of China's multi-tiered pension system, aimed at providing basic financial support [1] - The total number of participants in the basic pension insurance system is expected to exceed 1.07 billion by the end of March 2025 [1] Group 2 - In addition to urban workers, the basic pension for rural residents will also be increased, with a minimum standard rise of 20 yuan, representing a 16.3% increase, benefiting over 18 million elderly individuals, mostly from rural areas [4] - Basic pensions are distinct from personal pensions; the former is a government-supported, mandatory system, while the latter is a voluntary, market-oriented supplement established in April 2022 [5][7] - Personal pensions allow individuals to contribute up to 12,000 yuan annually, with tax benefits during contribution and a lower tax rate upon withdrawal, making it a potential financial tool for future retirement planning [7][8]

Core Viewpoint - The personal pension system in China will be implemented nationwide starting December 15, 2024, after a two-year pilot in 36 cities, allowing all workers participating in basic pension insurance to join the scheme [1] Group 1: Implementation and Participation - The personal pension accounts can be opened through various online platforms and commercial banks, with a contribution limit of 12,000 yuan per year for purchasing approved financial products [1] - As of November 2024, 72.79 million personal pension accounts have been opened, although issues such as "high account opening but low contributions" need to be addressed [1] Group 2: Tax Policy and Economic Viability - The personal pension system adopts an EET (Exempt-Exempt-Tax) tax model, aiming to encourage middle and high-income groups to supplement their retirement savings while providing stable long-term capital for the market [2] - For ordinary participants, the economic benefits depend on the marginal tax rate and asset allocation efficiency, with those in higher tax brackets benefiting from tax deductions and investment returns [3] Group 3: Optimization and Improvement - Key issues include imbalanced tax incentives, low expected returns on pension financial products, and strict liquidity constraints, which hinder participation and investment confidence [4][5] - Recommendations for improvement include implementing tiered tax incentives, expanding the product range, and establishing flexible withdrawal rules for specific circumstances [5][6] Group 4: Young People's Investment Planning - Young individuals are encouraged to start planning for retirement investments, ideally between the ages of 35 and 40, focusing on long-term asset accumulation to ensure a smooth transition into retirement [6][7] - Emphasizing a disciplined investment approach, such as regular contributions, can help mitigate the impact of market volatility and achieve stable asset growth over time [7]

Group 1: Consumption Habits - The importance of enhancing savings awareness among young people, who are often influenced by premature consumption, is emphasized, highlighting the need to prioritize savings over unrealistic wealth fantasies [3] - Establishing a habit of forced savings by setting aside a portion of income before spending is recommended, even if the amount is small, as it can accumulate over time [3] - Avoiding impulse purchases by delaying buying decisions and reassessing the necessity of items after a cooling-off period is advised [3] Group 2: Financial Management and Investment - Utilizing modern technology for financial management through personal finance apps and automated investment platforms can enhance wealth accumulation efficiency [4] - A diversified investment strategy is recommended, including traditional savings, bank financial products, money market funds, government bonds, and gold investments to mitigate risks and improve potential returns [5] - Continuous self-improvement and skill enhancement are crucial for increasing income and career development opportunities [5]

Core Viewpoint - The Ministry of Human Resources and Social Security clarified that personal pension investment income is subject to a 3% personal income tax upon withdrawal, without distinguishing between principal and investment returns [1][2]. Group 1: Personal Pension System Overview - Personal pensions are government-supported, voluntary, and market-operated systems aimed at supplementing retirement insurance [1]. - The system operates on an individual account basis, with a maximum annual contribution limit of 12,000 yuan, and the funds can be invested in approved financial products [1]. - The personal pension system will be fully implemented by December 15, 2024, allowing all workers participating in basic pension insurance to enroll [1]. Group 2: Tax Policy and Benefits - Starting January 1, 2024, a deferred tax policy will be implemented nationwide, allowing contributions to be deducted from comprehensive or business income [2]. - Investment income in personal pension accounts will not be subject to personal income tax during the investment phase [2]. - Upon withdrawal, personal pensions will be taxed at a flat rate of 3%, which is separate from comprehensive income, thus reducing the overall tax burden [2]. Group 3: Product Offerings and Accessibility - As of June 25, 2023, there are 1,046 personal pension products available, including 35 wealth management products, 466 savings products, 248 insurance products, and 297 fund products [2]. - These products are regulated to ensure safety, stability, and long-term value preservation for retirees [2]. - Participants can open personal pension accounts through various online platforms and can change their account bank twice a year [3]. Group 4: Investment Guidance and Options - Financial institutions are encouraged to provide investment consulting services tailored to individual risk preferences and age [3]. - If funds in the personal pension account are not used to purchase investment products, they will earn interest at the current rate set by the People's Bank of China [3].

Core Viewpoint - The central financial work conference emphasizes the development of five key areas in finance: technology finance, green finance, inclusive finance, pension finance, and digital finance, with a focus on enhancing support for key sectors such as technological innovation and green transformation [1][2] Group 1: Pension Finance Development - By the end of 2024, Postal Savings Bank and Industrial and Commercial Bank of China (ICBC) each served over 200 million elderly clients [3][4] - The personal pension system has been fully implemented, leading to a rapid increase in personal pension account openings at several listed banks, with ICBC, Bank of Communications, and CITIC Bank seeing their account numbers double [1][7] - As of the end of 2024, China Bank and China Merchants Bank each had over 10 million personal pension accounts [1][7] Group 2: Growth in Personal Pension Accounts - A total of 12 listed banks reported significant growth in personal pension accounts, with China Bank and China Merchants Bank each exceeding 10 million accounts [7][8] - CITIC Bank reported a 136.04% increase in personal pension accounts compared to the previous year, while Industrial Bank saw a 47.67% increase [10][8] - The personal pension account numbers for Beijing Bank and Shanghai Bank surpassed 170,000 and 159,530 respectively by the end of 2024 [7][8] Group 3: Diversification of Pension Financial Products - The National Financial Regulatory Administration has issued guidelines to enhance the quality of pension finance, encouraging banks to diversify their product offerings and improve service adaptability [11][12] - China Bank has launched 262 personal pension products, covering various financial instruments, positioning itself as a leader in product variety [11] - Agricultural Bank of China is focused on enhancing the coverage and quality of its pension financial services, while CITIC Bank has developed a comprehensive pension financial product and service system [12]

Group 1 - The personal pension system in China allows workers participating in urban employee basic pension insurance or rural resident basic pension insurance to join, while retirees already receiving basic pension benefits cannot participate [2] - Flexible employment individuals can participate in the personal pension system as long as they have made at least one payment into the basic pension insurance [2] - Authoritative information regarding personal pensions can be accessed through various national online service platforms [2] Group 2 - After contributing to a personal pension, individuals can not only deduct personal income tax but also use the funds to purchase approved investment products to increase retirement income [5] - Investment products include wealth management products, savings deposits, commercial pension insurance, public funds, government bonds, specific pension savings, and index funds [5][6] - Personal pension products are regulated by financial authorities to ensure safety, stability, and long-term value preservation [6] Group 3 - For individuals unsure about selecting personal pension products, financial institutions can provide investment consulting based on personal risk preferences and age [9][10] - It is not mandatory to purchase investment products with personal pension funds; funds can earn interest at the current deposit rate if not invested [11] Group 4 - Personal pensions generally cannot be withdrawn early, with participants eligible to withdraw only upon reaching the retirement age for basic pensions [12] - Exceptions for early withdrawal include total loss of work ability, emigration, serious illness, receiving unemployment insurance, or being on minimum living security [13] - Applications for withdrawal can be made through social security agencies or online service portals, with funds disbursed to the individual's social security card bank account [14][15]