Investment Rating - The report maintains a "Recommended" rating for Chongqing Bank (stock code: 601963) [1] Core Views - Chongqing Bank has demonstrated robust double-digit growth in performance, with both volume and price factors contributing positively to its results [1] - The bank's revenue for 2025 reached 15.113 billion yuan, reflecting a year-on-year increase of 10.48%, while the net profit attributable to shareholders was 5.654 billion yuan, also up by 10.49% [3] - The bank's net interest income increased by 22.44% year-on-year to 12.459 billion yuan, benefiting from stable interest margins and strong asset expansion [3] - The bank's non-interest income faced pressure, declining by 24.24% year-on-year to 2.654 billion yuan, primarily due to a significant drop in agency wealth management income [3] - Asset quality has improved for corporate loans, with a non-performing loan (NPL) ratio of 1.14%, while retail loan risks have slightly increased [3] - The bank's capital adequacy ratio stands at 12.55%, with a core Tier 1 capital ratio of 8.53%, indicating sufficient risk absorption capacity [3] Financial Performance Summary - Revenue and net profit for 2025 were 15.113 billion yuan and 5.654 billion yuan, respectively, with growth rates of 10.48% and 10.49% [39] - The bank's total loans increased by 20.72% year-on-year, with corporate loans growing by 30.95% [3] - The bank's non-performing loan ratio improved to 1.14%, with corporate loans showing a decline in NPL ratio to 0.71% [3] - The bank's dividend payout ratio for 2025 is stable at 30% [3] - Forecasted BVPS for 2026-2028 are 17.04 yuan, 18.64 yuan, and 20.70 yuan, with corresponding PB ratios of 0.64X, 0.59X, and 0.53X [3]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部或任何部分內容 而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 BANK OF CHONGQING CO., LTD.* 重慶銀行股份有限公司* （ 於 中 華 人 民 共 和 國 註 冊 成 立 的 股 份 有 限 公 司 ） （股份代號：1963） 海外監管公告 本公告乃重慶銀行股份有限公司*（「本行」）根據香港聯合交易所有限公司證券上市規則第 13.10B條而作出。 茲載列本行在上海證券交易所網站刊發之《2025年度報告》，僅供參閱。 代表董事會 重慶銀行股份有限公司* 董事長 楊秀明 中國重慶，2026年3月24日 於本公告刊發日期，本行的執行董事為楊秀明先生、高嵩先生及侯曦蒙女士；本行的非 執行董事為黃漢興先生、郭喜樂先生、吳珩先生、付巍先生、周宗成先生及余華先生； 本行的獨立非執行董事為朱燕建先生、劉瑞晗女士、汪欽琳女士、曾宏先生及陳鳳翔先 生。 * 本行經中國銀行業監督管理機構批准持有B0206H250000001號金融許可證，並經重慶市市 場監督管理 ...

Core Insights - The article discusses the financial support for the construction of the Western Land-Sea New Corridor, highlighting the innovative financial products and ecosystem development by Chongqing Bank, which has surpassed 1 trillion yuan in assets [1][8] Group 1: Financial Support for the Corridor - The financial support for the Western Land-Sea New Corridor focuses on four key areas: enhancing financial product supply, improving smart financial infrastructure, creating institutional openness, and deepening international financial cooperation [1] - Chongqing Bank has become the first city commercial bank in China to exceed 1 trillion yuan in assets and has provided over 55 billion yuan in financing for the corridor's construction by 2025 [1] Group 2: Strategic Transformation - Chongqing Bank has transitioned from traditional loan services to an integrated ecosystem through its "Huichang Luhai" trade finance brand, combining cross-border finance, trade financing, and supply chain finance into five major systems [2] - By the end of 2025, these systems have served clients with financing and settlement scales exceeding 100 billion yuan [2] Group 3: Rule Innovation - The bank has addressed financing bottlenecks by issuing the first multi-modal transport "one bill" digital bill of lading credit business in collaboration with the corridor's operating company, enhancing the financial value of transport documents [3] - This innovation allows companies to obtain loans using digital bills, significantly speeding up financing processes [3] Group 4: Targeted Solutions for SMEs - To tackle the financing difficulties faced by small and medium-sized foreign trade enterprises, Chongqing Bank launched the "Yumao Loan," which offers credit loans up to 5 million yuan with favorable interest rates and quick fund availability [4][5] - The bank has successfully supported over 20 pilot enterprises in Dazhu Longshui Town with credit assistance [5] Group 5: Professional Empowerment - Chongqing Bank has transformed complex financial services like exchange rate hedging into strategic tools for global competitiveness, significantly reducing financing costs for clients [6] - By 2025, the bank's exchange rate hedging business scale reached nearly 5 billion yuan, with a hedging rate of about 40%, leading local banks [6] Group 6: Digital Infrastructure - The bank is advancing its digital transformation with a focus on enhancing financial service efficiency and customer experience, having launched numerous digital projects and products [7] - The "Jie e Loan" product has become popular, allowing for instant loan approvals by automating verification processes [7] Group 7: Broader Implications - The ongoing development of the Western Land-Sea New Corridor is expected to enhance its operational efficiency and contribute to the financial vitality of Chongqing, serving as a model for integrating financial development with regional and national strategies [8]

Core Viewpoint - Chongqing Bank reported a strong performance in its Q3 2025 results, with revenue and net profit showing significant year-on-year growth, supported by increased interest income and improved asset quality [1][2]. Financial Performance - For the first nine months of 2025, Chongqing Bank achieved revenue of 11.74 billion yuan, a year-on-year increase of 10.4%, with growth accelerating by 3.4 percentage points compared to the first half of 2025 [1]. - The net profit attributable to shareholders reached 4.88 billion yuan, up 10.2% year-on-year, with an increase of 4.8 percentage points from the first half of 2025 [1]. - Total assets at the end of September 2025 amounted to 1,022.7 billion yuan, reflecting a year-on-year growth of 24.1% [1]. Interest Income and Non-Interest Income - Net interest income for the first nine months of 2025 rose by 15.2% year-on-year, with the growth rate improving by 3.0 percentage points from the first half of 2025, driven by a 19.6% increase in interest-earning assets [1]. - Other non-interest income reached 2.06 billion yuan, a year-on-year increase of 5.8%, with growth accelerating by 5.2 percentage points compared to the first half of 2025, benefiting from the realization of gains from OCI accounts [1]. Loan Growth - As of September 2025, the loan balance stood at 518.5 billion yuan, a year-on-year increase of 20.4%, with corporate loans growing significantly due to the bank's focus on the Chengdu-Chongqing economic circle and major national strategies [2]. - The growth rates for corporate loans, personal loans, and bill discounting were 29.8%, 2.8%, and -23.8% respectively [2]. Asset Quality - The non-performing loan ratio at the end of September 2025 was 1.14%, showing a decrease of 3 basis points from the first half of 2025 and 11 basis points from the end of the previous year, indicating ongoing improvement in asset quality [2]. Investment Outlook - Chongqing Bank is well-positioned to benefit from its strategic location and ongoing economic developments, with expectations for continued strong growth in net profit over the next few years [3]. - Projected net profits for 2025, 2026, and 2027 are 5.65 billion yuan, 6.07 billion yuan, and 6.37 billion yuan, representing year-on-year growth rates of 10.3%, 7.5%, and 4.9% respectively [3].

Core Viewpoint - Chongqing Bank has made significant progress in its operations and financial performance in 2025, achieving a total asset milestone of 1 trillion yuan and positioning itself as a leading city commercial bank in China [3][5]. Group 1: Financial Performance Highlights - As of July, the total assets of Chongqing Bank reached 1,008.7 billion yuan, marking it as the first city commercial bank in China to exceed this threshold [5]. - The bank's deposits and loans exceeded 540 billion yuan and 500 billion yuan, respectively, with year-to-date growth rates of 14.8% and 13.6% [5]. - The bank reported a revenue of nearly 7.7 billion yuan, net interest income exceeding 5.8 billion yuan, and a net profit close to 3.4 billion yuan, reflecting year-on-year growth of 7%, 12.2%, and 5.7% respectively [5]. Group 2: Strategic Initiatives and Market Position - The bank has actively supported national strategies such as the Chengdu-Chongqing Economic Circle and the Western Land-Sea New Corridor, providing nearly 140 billion yuan in credit support for regional projects [6][11]. - Chongqing Bank's loan growth in the first half of the year was 60 billion yuan, leading the financial institutions in Chongqing with a market share of 5.22%, an increase of 0.54 percentage points [5]. - The bank has implemented over 30 measures to support high-quality development in manufacturing and private sectors, with manufacturing loans growing by 26% year-on-year [6][12]. Group 3: Risk Management and Operational Efficiency - The bank's non-performing loan ratio stood at 1.17%, with a coverage ratio of 248.3%, indicating improved asset quality [5][19]. - The bank has enhanced its risk management framework, introducing new customer rating models and improving risk identification and disposal capabilities [19]. - The bank's net interest margin increased by 4 basis points to 1.39%, supported by effective asset-liability management [8][19]. Group 4: Innovation and Digital Transformation - Chongqing Bank has focused on digital innovation, enhancing its digital credit products and achieving a 35% increase in its digital loan offerings [8][14]. - The bank has developed a data-driven service system, improving customer acquisition efficiency by 28% and tripling the efficiency of its authorization review process [9][14]. - The bank has also launched new financial products, including green loans and specialized credit products for small and micro enterprises, contributing to a 99 billion yuan increase in inclusive loans [12][14].

Core Viewpoint - Chongqing Bank is on track to achieve significant growth and stability, aiming for a key year in 2025 as it approaches the "trillion" asset milestone, with a focus on serving the local economy and enhancing financial services for small and micro enterprises [1][5]. Asset Scale - As of June 30, 2025, the bank's total assets reached 983.37 billion, a 14.79% increase from the previous year, with loans exceeding 500 billion and deposits totaling 544.14 billion, also up by 14.77% [2][5]. - The bank's asset quality remains robust, with a non-performing loan ratio of 1.17%, down by 0.08 percentage points from the end of the previous year [2][3]. Profitability - The bank reported operating income of 7.66 billion, a year-on-year increase of 7.00%, and a net profit attributable to shareholders of 3.19 billion, up 5.39% from the previous year, marking the best growth rates in three years [2][3]. - Interest income grew by 12.22% to 5.86 billion, benefiting from the expansion of interest-earning assets and effective control of funding costs [2]. Risk Control - The bank has enhanced its comprehensive risk management system, with a focus on credit risk prevention, resulting in improved risk coverage with a provision coverage ratio of 248.27% [2][3]. - The proportion of loans under special attention decreased to 2.05%, indicating effective risk management practices [2]. Manufacturing Sector Focus - The bank's loans to the manufacturing sector reached 36.63 billion, a 16.86% increase from the previous year, with a non-performing loan ratio of 1.99%, reflecting a stable quality in loan growth [3][4]. - Initiatives such as the "Manufacturing Industry Action Plan" and support for high-quality development of the private economy have been implemented to ensure effective financial services [3]. Financial Innovation - The bank has developed a financial service system tailored to the entire lifecycle of technology enterprises, with technology loans growing over 40% [4]. - Green finance initiatives have led to a green loan portfolio exceeding 75 billion, with an annual growth rate of over 30% [4]. Regional Development Contribution - The bank has actively supported the Chengdu-Chongqing economic circle, injecting nearly 140 billion in credit to major projects, including transportation and digital economy initiatives [5]. - The bank's financing for the Western Land-Sea New Corridor has surpassed 47 billion, showcasing its commitment to regional infrastructure development [5]. Retail Business Innovation - The bank has introduced innovative consumer finance products, such as the "Jie e Loan," which has grown by 35% since the beginning of the year, enhancing consumer financing options [6]. - The bank aims to continuously improve its service quality and contribute to the high-quality development of the real economy as it approaches its "trillion" asset goal [6].

Core Viewpoint - Chongqing Bank reported a revenue of 7.659 billion yuan for the first half of 2025, reflecting a year-on-year growth of 7.0%, with net profit attributable to shareholders reaching 3.190 billion yuan, up 5.4% year-on-year [1] Group 1: Financial Performance - The bank's net interest income increased by 12.2% year-on-year, driven by a rapid growth in interest-earning assets, contributing 18.2 percentage points to performance, while net interest margin decreased by 3 basis points to 1.39% [1] - Other non-interest income showed significant improvement, reaching 1.432 billion yuan, a year-on-year increase of 0.6%, with investment income remaining stable at 1.586 billion yuan, down only 0.2% year-on-year [1] Group 2: Loan Growth and Composition - As of the end of the first half of 2025, the bank's loan balance reached 498.6 billion yuan, a year-on-year increase of 19.6%, with corporate loans growing by 29.2% and personal loans by 4.3% [2] - The bank focused on infrastructure loans, with significant net increases in loans to the leasing and business services sector and water resources management, accounting for about 70% of the total loan growth [2] - Personal consumption loans surged by 88.0% year-on-year to 20 billion yuan, supported by policies aimed at boosting consumer spending [2] Group 3: Asset Quality and Risk Management - The bank's non-performing loan (NPL) ratio improved to 1.17%, down 4 basis points from the end of the first quarter of 2025, with overall asset quality showing positive trends [3] - The improvement in asset quality was primarily driven by reductions in NPL ratios in wholesale and retail, as well as construction sectors, while retail NPLs saw a slight increase [3] - Key indicators such as loan attention rate and overdue rate improved significantly, indicating a positive outlook for asset quality [3] Group 4: Investment Outlook - Chongqing Bank is well-positioned to benefit from the Chengdu-Chongqing economic circle and the construction of the Western Land-Sea New Corridor, with strong growth momentum and improving deposit costs and asset quality supporting high-quality earnings growth [4] - Projected net profits for 2025-2027 are expected to be 5.425 billion, 5.814 billion, and 6.296 billion yuan, reflecting year-on-year growth rates of 6.0%, 7.2%, and 8.3% respectively [4]

Financial Performance - The net profit for the first half of the year reached 3.394 billion yuan, representing a year-on-year increase of 5.73% [2] - Operating income was 7.659 billion yuan, up 7.00% year-on-year [2] - ROA and ROE decreased to 0.74% and 11.52%, respectively, indicating a decline [2] Scale Expansion - Total assets amounted to 983.365 billion yuan, growing by 14.79% in six months [2] - Total loans reached 500.670 billion yuan, an increase of 13.63% [2] - Deposits grew to 544.136 billion yuan, up 14.77% [2] Capital Adequacy - The core Tier 1 capital adequacy ratio fell to 8.80%, down 1.08 percentage points from the beginning of the year, nearing the regulatory red line [2][3] - Risk-weighted assets surged by 16.40%, contributing to the decline in capital adequacy [3] Asset Quality - The non-performing loan ratio improved to 1.17%, a decrease of 0.08 percentage points [2] - The provision coverage ratio increased to 248.27%, up 3.19 percentage points [2][4] Intermediate Business Income - Net income from fees and commissions dropped by 28.62%, falling from 511 million yuan to 365 million yuan, accounting for only 4.76% of operating income [2][3] Business Structure Adjustment - Inclusive small and micro loans increased by 9.871 billion yuan, while technology and green loans grew by over 40% and 20%, respectively [4] - The balance of "Jie e Loan" increased by 35%, indicating early success in retail digital transformation [4][5] Future Outlook - The core challenge for the company is balancing rapid expansion with capital constraints [5] - Key areas to monitor include the progress of capital replenishment plans, trends in interest margins, and the recovery ability of intermediate business income [5]

BANK OF CHONGQING CO., LTD.* 重慶銀行股份有限公司* （ 於 中 華 人 民 共 和 國 註 冊 成 立 的 股 份 有 限 公 司 ） （股份代號：1963） 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部或任何部分內容 而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 董事長 楊秀明 中國重慶，2025年8月22日 於本公告刊發日期，本行的執行董事為楊秀明先生、高嵩先生及侯曦蒙女士；本行的非 執行董事為黃漢興先生、郭喜樂先生、吳珩先生、付巍先生、周宗成先生及余華先生； 本行的獨立非執行董事為朱燕建先生、劉瑞晗女士、汪欽琳女士、曾宏先生及陳鳳翔先 生。 海外監管公告 本公告乃重慶銀行股份有限公司*（「本行」）根據香港聯合交易所有限公司證券上市規則第 13.10B條而作出。 * 本行經中國銀行業監督管理機構批准持有B0206H250000001號金融許可證，並經重慶市市 場監督管理局核准領取統一社會信用代碼為91500000202869177Y號的企業法人營業執照。 本行根據香港銀行業 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部或任何部分內容 而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 BANK OF CHONGQING CO., LTD.* 重慶銀行股份有限公司* （ 於 中 華 人 民 共 和 國 註 冊 成 立 的 股 份 有 限 公 司 ） （股份代號：1963） 海外監管公告 本公告乃重慶銀行股份有限公司*（「本行」）根據香港聯合交易所有限公司證券上市規則第 13.10B條而作出。 茲載列本行在上海證券交易所網站刊發之《2025年半年度報告摘要》，僅供參閱。 代表董事會 重慶銀行股份有限公司* 董事長 楊秀明 中國重慶，2025年8月22日 於本公告刊發日期，本行的執行董事為楊秀明先生、高嵩先生及侯曦蒙女士；本行的非 執行董事為黃漢興先生、郭喜樂先生、吳珩先生、付巍先生、周宗成先生及余華先生； 本行的獨立非執行董事為朱燕建先生、劉瑞晗女士、汪欽琳女士、曾宏先生及陳鳳翔先 生。 * 本行經中國銀行業監督管理機構批准持有B0206H250000001號金融許可證，並經重慶市市 場 ...