Core Viewpoint - Qilu Bank has demonstrated robust growth in assets, loans, and deposits in the first half of 2025, with significant increases in operating income and net profit, while maintaining a declining non-performing loan ratio and improving provision coverage ratio, showcasing strong asset quality resilience [1][3][4]. Group 1: Financial Performance - As of June 30, 2025, Qilu Bank's total assets reached 751.305 billion yuan, an increase of 8.96% from the end of the previous year [2]. - The total loan amount was 371.410 billion yuan, growing by 10.16%, with corporate loans (excluding discounts) increasing by 15.72% to 278.061 billion yuan [2]. - Total deposits amounted to 478.571 billion yuan, up 8.88%, with corporate deposits growing by 8.49% and personal deposits by 9.27% [2]. - Operating income for the first half of 2025 was 6.782 billion yuan, a year-on-year increase of 5.76%, with net interest income rising by 13.29% to 4.986 billion yuan [3]. - Net profit attributable to shareholders was 2.734 billion yuan, reflecting a growth of 16.48%, with basic earnings per share at 0.54 yuan, up 17.39% [3]. Group 2: Asset Quality and Risk Management - The non-performing loan ratio stood at 1.09%, down by 0.10 percentage points from the end of the previous year, while the provision coverage ratio improved to 343.24%, an increase of 20.86 percentage points [4]. - The bank has implemented a comprehensive risk management mechanism, focusing on proactive risk identification and classification, which has effectively reduced the migration rate of attention loans by 9.23 percentage points to 26.96% [5]. Group 3: Strategic Focus Areas - Qilu Bank has made significant strides in technology and green finance, with loans to technology enterprises increasing by 17.60% to 40.812 billion yuan, and green loans growing by 30.03% to 43.692 billion yuan [6]. - The bank has deepened its focus on rural finance, with county-level deposits rising by 11.67% to 150.101 billion yuan and loans increasing by 10.97% to 110.892 billion yuan [9][10]. - The successful conversion of approximately 7.99 billion yuan of convertible bonds into equity has strengthened the bank's capital base, enhancing its core tier one capital adequacy ratio to an estimated 11.62% [11]. Group 4: Retail and Wealth Management - Qilu Bank has emphasized retail banking, enhancing customer engagement through digital transformation and targeted marketing strategies, resulting in personal financial assets growing by 8.64% to 320.809 billion yuan [8]. - The bank has launched innovative wealth management products and improved service offerings for high-net-worth clients, contributing to a 12.75% increase in mid-to-high-end customer accounts [8].

Core Viewpoint - Qilu Bank has demonstrated solid financial performance in the first half of 2025, with significant growth in revenue, profit, and total assets, while maintaining a stable asset quality and improving operational efficiency [2][8]. Financial Performance - Total operating income for the first half of 2025 reached CNY 6,781.68 million, a year-on-year increase of 5.76% compared to CNY 6,412.22 million in the same period of 2024 [2][8]. - Total profit amounted to CNY 2,754.69 million, reflecting a 14.54% increase from CNY 2,405.01 million in the first half of 2024 [2][8]. - Net profit for the period was CNY 2,727.40 million, up 16.28% from CNY 2,345.62 million in the previous year [2][8]. Asset and Loan Growth - As of June 30, 2025, total assets reached CNY 751.31 billion, an increase of 8.96% from CNY 689.54 billion at the end of 2024 [3][8]. - Total loans amounted to CNY 371.41 billion, growing by 10.16% from CNY 337.14 billion at the end of 2024 [3][8]. - Corporate loans increased by 15.72% to CNY 278.06 billion, while personal loans decreased by 4.38% to CNY 82.63 billion [3][8]. Asset Quality - The non-performing loan (NPL) ratio improved to 1.09%, down from 1.19% at the end of 2024 [4][9]. - The provision coverage ratio increased to 343.24%, up from 322.38% at the end of 2024, indicating stronger risk management [4][9]. Operational Efficiency - The cost-to-income ratio improved to 24.90%, a decrease of 2.51 percentage points from the previous year [4][9]. - The net interest margin was reported at 1.53%, reflecting a slight increase from 1.51% in the previous year [4][9]. Capital Adequacy - As of June 30, 2025, the core tier 1 capital adequacy ratio was 10.46%, while the total capital adequacy ratio stood at 14.61% [5][6]. - The bank's total capital reached CNY 59.19 billion, an increase from CNY 56.58 billion at the end of 2024 [5][6]. Shareholder Information - As of the report date, the total number of ordinary shareholders was 43,118, with the largest shareholder being the Commonwealth Bank of Australia, holding 14.66% of the shares [10][11].

齐鲁银行股份有限公司 关于变更注册资本的公告 证券代码：601665 证券简称：齐鲁银行 公告编号：2025-061 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 齐鲁银行股份有限公司（以下简称"公司"）于 2025 年 8 月 27 日召开的第 九届董事会第十六次会议审议通过了《关于变更注册资本的议案》、 《关于修订〈齐 鲁银行股份有限公司章程〉的议案》，同意变更公司注册资本，并对公司章程相 关条款进行修改。 公司于 2022 年 11 月 29 日公开发行 80 亿元可转换公司债券（债券简称： "齐 特此公告。 齐鲁银行股份有限公司董事会 鲁转债"，债券代码：113065），于 2025 年 8 月 14 日提前赎回"齐鲁转债"。自 计新增股本 1,445,710,138 股，增加后总股本为 6,153,842,525 股。因此，拟将注 册资本由 4,708,132,387 元变更为 6,153,842,525 元，并对《公司章程》中涉及注 册资本、股份总数的条款进行相应修订，详见公司同日在上海证券交易所网站 （www. ...

Core Viewpoint - The report highlights the financial performance and operational achievements of Qilu Bank for the first half of 2025, showcasing growth in assets, loans, and profitability while maintaining strong asset quality indicators [7][8]. Group 1: Company Overview - Qilu Bank focuses on supporting the real economy through increased credit provision, aligning with central and local government policies [7]. - The bank's total assets reached 751.305 billion yuan, an increase of 8.96% compared to the end of the previous year [8]. Group 2: Financial Performance - Total loans amounted to 371.410 billion yuan, reflecting a growth of 10.16% year-on-year [8]. - The bank's total liabilities were 700.858 billion yuan, up 9.30% from the previous year, while total deposits reached 478.571 billion yuan, increasing by 8.88% [8]. - Operating income for the period was 6.782 billion yuan, a year-on-year increase of 5.76%, with net interest income rising by 13.29% to 4.986 billion yuan [8]. Group 3: Profitability Metrics - Net profit attributable to shareholders was 2.734 billion yuan, marking a 16.48% increase year-on-year, with basic earnings per share at 0.54 yuan, up 17.39% [8]. - The annualized return on average equity was 12.80%, an increase of 0.14 percentage points compared to the previous year [8]. - The net interest margin improved to 1.53%, up by 2 basis points [8]. Group 4: Asset Quality - The non-performing loan ratio stood at 1.09%, a decrease of 0.10 percentage points from the previous year [8]. - The coverage ratio for loan loss provisions was 343.24%, an increase of 20.86 percentage points year-on-year [8].

Core Viewpoint - Qilu Bank's stock closed at 5.89 yuan on August 15, 2025, down 2.32%, with a trading volume of 1.4094 million shares and a total transaction amount of 828 million yuan [1]. Trading Information Summary - On August 15, 2025, the fund flow for Qilu Bank showed a net outflow of 40.93 million yuan from main funds, accounting for 4.94% of the total transaction amount; a net inflow of 95.52 million yuan from speculative funds, accounting for 11.54%; and a net outflow of 54.59 million yuan from retail investors, accounting for 6.59% [2][4]. Company Announcement Summary - Qilu Bank announced the redemption results of "Qilu Convertible Bonds," with a redemption amount of 7.279 million yuan (72,790 bonds) and a total redemption payment of 7.3305 million yuan (including interest). The redemption date and the delisting date for the convertible bonds were both set for August 14, 2025 [2]. - From June 3 to July 4, 2025, the company's stock price closed above 130% of the current conversion price of "Qilu Convertible Bonds" for 15 trading days, triggering the conditional redemption clause. The company decided to exercise its early redemption right on July 4, 2025, with the redemption registration date set for August 13, 2025 [2]. - As of August 13, 2025, the balance of "Qilu Convertible Bonds" was 7.279 million yuan, accounting for 0.09% of the total issuance. A total of 7.992721 billion yuan of "Qilu Convertible Bonds" has been converted into the company's A-shares, with a total conversion of 1.573009191 billion shares, accounting for 34.34% of the total A-shares issued before conversion [2]. - The total redemption payment of 7.3305 million yuan will not significantly impact the company's cash flow. After the early redemption of "Qilu Convertible Bonds," the company's total share capital will increase to 6.153842525 billion shares, which may dilute earnings per share in the short term but will enhance the company's capital strength for sustainable development in the long term [2][4].

Core Viewpoint - The recent delisting of bank convertible bonds, including the Qi Lu convertible bond, indicates a significant reduction in the total outstanding balance of bank convertible bonds, with a potential for further shrinkage by year-end due to strong conversion demands from banks [1][3]. Group 1: Market Overview - The delisting of the Qi Lu convertible bond marks the sixth bank convertible bond to exit the market this year, resulting in a total reduction of approximately 42.5 billion yuan in the outstanding balance of bank convertible bonds since the beginning of the year [1]. - Currently, only seven bank convertible bonds remain in the market, with the balance of the Shanghai Pudong Development Bank (SPDB) convertible bond set to mature in two months [1][3]. - The strong redemption trend has been driven by the significant rise in bank stock prices, leading to multiple convertible bonds triggering redemption clauses [1][3]. Group 2: Convertible Bond Details - The Qi Lu convertible bond had an issuance amount of 8 billion yuan, with 7.993 billion yuan converted into equity, leaving a minimal balance of 0.07 million yuan at the time of redemption [1]. - As of now, the outstanding balances of other convertible bonds include SPDB at approximately 35.3 billion yuan, with a total of at least six convertible bonds having exited the market this year [2][3]. Group 3: Future Projections - Analysts predict that by year-end, depending on conversion activities, only two to four bank convertible bonds may remain, with the SPDB convertible bond expected to be the next to exit the market [3]. - The total outstanding balance of bank convertible bonds has decreased from 191 billion yuan at the beginning of the year to approximately 125 billion yuan, reflecting a reduction of about 66 billion yuan [3]. - The introduction of strategic investors, such as Cinda Investment, has facilitated the conversion of SPDB convertible bonds, alleviating some of the pressure associated with impending maturity [4][5].

Core Viewpoint - The announcement details the early redemption of "Qilu Convertible Bonds" by Qilu Bank, triggered by the stock price conditions, and outlines the implications for the company's capital structure and shareholder equity [2][10][15]. Redemption Announcement - The total amount redeemed is RMB 7,279,000 (72,790 bonds) [2]. - The redemption was triggered as the stock price met the conditions set in the bond issuance prospectus, with the conversion price adjusted to RMB 5.00 per share [2][3]. - The board approved the early redemption on July 4, 2025, and multiple announcements were made regarding the redemption process [3][10]. Redemption Details - The redemption date is set for August 13, 2025, with the redemption price at RMB 100.7068 per bond [5][10]. - The total redemption amount, including accrued interest, is RMB 7,330,461.63, with payment scheduled for August 14, 2025 [6][14]. Impact on Company - As of the redemption date, the remaining balance of "Qilu Convertible Bonds" is RMB 7,279,000, representing 0.09% of the total issuance [10]. - A total of RMB 7,992,721,000 in bonds has been converted into 1,573,009,191 shares, accounting for 34.34% of the pre-conversion total shares [11]. - The company's total share capital will increase to 6,153,842,525 shares post-redemption, which may dilute earnings per share in the short term but is expected to strengthen the company's capital base for sustainable growth [15]. Shareholder Changes - Significant changes in shareholding proportions for major shareholders were noted, with some falling below the 5% disclosure threshold due to the bond conversion and redemption [16].

Core Viewpoint - The announcement details the early redemption of "Qilu Convertible Bonds" by Qilu Bank, including the redemption amount, payment date, and the impact on the company's capital structure [1][3]. Redemption Details - Redemption Amount: RMB 7,279,000 (72,790 bonds) [1] - Total Redemption Payment: RMB 7,330,461.63 (including current interest) [1] - Redemption Payment Date: August 14, 2025 [1] - Bond Delisting Date: August 14, 2025 [1] Redemption Conditions - The redemption was triggered as the stock price of Qilu Bank exceeded 130% of the bond's conversion price for 15 trading days [1]. - The conversion price was adjusted from RMB 5.14 to RMB 5.00 per share starting June 12, 2025 [1]. Redemption Process - The company disclosed the early redemption decision on July 5 and July 12, 2025, and issued 22 reminders from July 15 to August 13, 2025 [2]. - The redemption registration date was set for August 13, 2025, for all bondholders registered with the Shanghai branch of China Securities Depository and Clearing Corporation [2]. Financial Impact - The total redemption amount of RMB 7,330,461.63 will not significantly impact the company's cash flow [3]. - The completion of the early redemption will increase the company's total share capital, enhancing its capital strength and supporting sustainable development [3]. Shareholder Changes - Post-redemption, the ownership percentages of major shareholders decreased, with the largest shareholder, Commonwealth Bank of Australia, dropping from 14.66% to 12.12% [5]. - Other significant shareholders also experienced a reduction in their ownership percentages following the conversion and redemption [5][6].

Core Viewpoint - Qilu Bank is implementing the early redemption of its convertible bonds ("Qilu Convertible Bonds") and will delist them from the Shanghai Stock Exchange after the redemption process is completed [1][4][13]. Redemption Details - The last trading day for "Qilu Convertible Bonds" is August 8, 2025, and they will stop trading from August 11, 2025 [2][12]. - The last conversion date for the bonds is August 13, 2025, which is the final opportunity for bondholders to convert their bonds into shares [3][12]. - The redemption price is set at RMB 100.7068 per bond, which includes the face value and accrued interest [4][8][9]. - The redemption registration date is August 13, 2025, and the redemption payment date is August 14, 2025 [8][11]. Conditions for Redemption - The conditional redemption clause was triggered as the stock price of Qilu Bank exceeded 130% of the conversion price for 15 trading days within the specified period [5][7]. - The conversion price was adjusted from RMB 5.14 to RMB 5.00 per share starting June 12, 2025 [5][6]. Tax Implications - Individual investors are subject to a 20% tax on the interest income from the bonds, resulting in a net redemption amount of RMB 100.5654 per bond after tax [14]. - Resident enterprises are responsible for their own tax payments on bond interest income, with the same net redemption amount applicable [14]. Post-Redemption Actions - After the redemption is completed, "Qilu Convertible Bonds" will be delisted from the Shanghai Stock Exchange on August 14, 2025 [4][13].

（文章来源：证券日报） 证券日报网讯 8月12日晚间，齐鲁银行发布公告称，"齐鲁转债"已停止交易，特提醒"齐鲁转债"持有人 注意在限期内实施转股，以避免可能面临的投资损失。 ...