非息收入 / 金融投资收入的持续性如何？非息收入总量占比仍在提升， 在息差承压背景下， 2025 年上半年银行投资收益占营业收入的比重逐步提升。其中 国有大行平均为 7.7% ，股份行和城商行均在 18% 左右，较 2024 年同期提升 2-3 个百分点，农商行则从 28% 的高位边际下降至 25% ，但头部农商行 占比由 20% 升至 25% 。 OCI 账户浮盈消耗情况如何？浮盈加速兑现。 一方面从公允价值变动科目看，各类型银行该科目均较 2024 年同期显著下降；另 一方面从 OCI 账户情况来看，尽管 2025 年上半年 OCI 浮盈的发生额较 2024 年全年下降明显且整体呈负，但浮盈兑现的规模与 2024 年全年接近。 银行资产质量有何变化？尾部农商行整体不良率持续抬升，而中大型银行不良率稳步下行。 纳入关注类贷款后，银行关注类与不良贷款合计率的波动性有所 提升，其中上市农商行的关注类与不良贷款合计率趋势与整体农商行更趋一致。 银行拨备计提情况如何？ 2025 年上半年各类银行拨备计提力度呈现分化， 而拨备率普遍下行， 反映银行在经营压力下通过拨备计提节奏调整影响当期利润。 银行资本充足率有何新变 ...

Core Viewpoint - China Bank reported a slight year-on-year increase in revenue for Q1 2025, driven primarily by non-interest income, despite a decline in net interest income and net profit [1][2][3]. Revenue and Profitability - In Q1 2025, China Bank achieved revenue of 164.9 billion yuan, a year-on-year increase of 2.56% [1][2]. - Net interest income was 107.7 billion yuan, down 4.42% year-on-year, accounting for 65.32% of total revenue [2]. - Non-interest income reached 57.2 billion yuan, showing a significant year-on-year growth of 18.91%, becoming the main driver for revenue improvement [2][3]. - The bank's net profit attributable to shareholders was 54.4 billion yuan, reflecting a year-on-year decrease of 2.90% [1][2]. Asset and Liability Management - As of Q1 2025, the total interest-earning assets amounted to 34.92 trillion yuan, representing a year-on-year growth of 7.2% [3]. - The loan and financial investment segments were key growth drivers, with year-on-year increases of 8.3% and 20.0%, respectively [3]. - The total interest-bearing liabilities stood at 31.59 trillion yuan, up 6.8% year-on-year, with deposits growing by 6.2% [4]. Asset Quality - The non-performing loan (NPL) ratio remained stable at 1.25%, unchanged from 2024 [5]. - The provision coverage ratio was 198%, a decrease of 2.63 percentage points compared to the end of 2024 [6]. Shareholder Structure - Changes in the top ten shareholders included a slight increase in the stake of the second-largest shareholder, Hong Kong Central Clearing Limited, and minor decreases for others [6]. Profit Forecast and Valuation - The bank is expected to see marginal improvements in revenue and profit for 2024, with projected year-on-year growth in net profit attributable to shareholders of 0.03%, 2.37%, and 3.41% for 2025-2027 [7].