Financial Performance - Net profit for Q1 2025 was RMB 25,362 million, down 2.29% from RMB 25,957 million in Q1 2024[6] - The company achieved operating income of 89.363 billion yuan and net profit attributable to shareholders of 25.246 billion yuan[23] - The company achieved operating income of CNY 89.363 billion, a decrease of 0.07% year-on-year, and net profit of CNY 25.362 billion, down 2.29% year-on-year[36] - The total comprehensive income for the group was RMB 20,879 million, a decrease of 23.9% from RMB 27,402 million in the previous year[57] - The bank's profit before tax for Q1 2025 was 27.252 billion RMB, compared to 28.760 billion RMB in Q1 2024[56] Assets and Liabilities - Total assets increased to RMB 17,689,399 million, a growth of 3.54% compared to the end of 2024[4] - The bank's total liabilities as of March 31, 2025, amounted to 16,693.0 billion RMB, up from 16,053.3 billion RMB at the end of 2024[55] - The total available stable funding is RMB 15,038,926 million as of March 31, 2025, an increase from RMB 14,555,976 million as of December 31, 2024[61] - Total on-balance sheet assets (excluding derivatives and securities financing transactions) increased to RMB 17,685,791 million as of March 31, 2025, from RMB 17,103,062 million as of December 31, 2024, representing a growth of 3.39%[69] Customer Loans and Deposits - Total customer loans reached RMB 9,356,188 million, reflecting a 4.97% increase year-on-year[4] - Customer deposits rose to RMB 15,976,534 million, marking a 4.51% increase from the previous year[4] - Retail loans showed resilience, with an increase of 3,619.93 billion yuan, representing a year-on-year growth of 9.92%[23] - Total deposits increased by 688.993 billion yuan, with a year-on-year increase of 169.09 billion yuan, improving the deposit-to-liability ratio by 0.48 percentage points[23] Capital Adequacy and Ratios - Core Tier 1 capital adequacy ratio stood at 9.21%, down from 9.56% at the end of 2024[13] - The total capital adequacy ratio stands at 13.34% as of March 31, 2025, compared to 14.44% as of December 31, 2024[61] - The liquidity coverage ratio is 224.63% as of March 31, 2025, a decrease from 287.28% as of December 31, 2024[61] - The leverage ratio is 5.34% as of March 31, 2025, compared to 5.72% as of December 31, 2024[66] Income and Expenses - Operating cash flow decreased significantly by 66.38%, totaling RMB 75,695 million compared to RMB 225,146 million in the same period last year[11] - The bank's net interest income for Q1 2025 was 68.857 billion RMB, a decrease from 71.573 billion RMB in Q1 2024[56] - The company reported a net interest income of CNY 68.857 billion, a decline of 3.79% year-on-year, with a net interest margin of 1.71%[37] - The bank's credit impairment losses increased to 10.717 billion RMB in Q1 2025 from 6.984 billion RMB in Q1 2024[56] Shareholder Information - The number of ordinary shareholders reached 182,920, including 180,558 A-share shareholders and 2,362 H-share shareholders[14] - The bank's equity attributable to shareholders decreased by 3.44% to RMB 994,297 million[4] - Basic and diluted earnings per share were RMB 0.24, a decline of 4.00% compared to RMB 0.25 in Q1 2024[6] - The total cash dividend for the fiscal year 2024 is approximately 25.941 billion RMB, with a final cash dividend of 1.139 RMB per 10 shares[50] Risk Management - The non-performing loan ratio remained at 0.91%, with a provision coverage ratio of 266.13%[23] - The company’s credit impairment losses rose by 53.45% year-on-year to CNY 10.717 billion, indicating increased credit risk[41] - The non-performing loan balance increased to CNY 85.294 billion, with a non-performing loan ratio of 0.91%, up 0.01 percentage points from the previous year[46] Digital Transformation and Innovation - The company is focusing on enhancing its digital transformation and integrating innovative technologies to improve service efficiency and customer experience[32] - The company has opened over 10 million personal pension accounts, promoting personal pension business rapidly[26] Additional Financial Activities - The company plans to issue CNY 30 billion of additional tier 1 capital bonds to strengthen its capital base[48] - The bank plans to fully redeem the 800 billion RMB perpetual capital bonds issued in 2020 by March 2025[49] - The bank's A-share issuance plan aims to raise 130 billion RMB to supplement its core Tier 1 capital, pending regulatory approval[49]

Core Insights - Postal Savings Bank of China reported a total asset of 17.69 trillion yuan for Q1 2025, representing a year-on-year growth of 3.54% [1] - The bank achieved an operating income of 89.363 billion yuan and a net profit attributable to shareholders of 25.246 billion yuan [1] - Net fee and commission income reached 10.306 billion yuan, showing a year-on-year increase of 8.76%, while other non-interest income grew by 21.70% [1] - The net interest margin stood at 1.71%, maintaining an excellent level within the industry [1] - As of the end of Q1, the bank's non-performing loan ratio was 0.91%, indicating solid asset quality, with a provision coverage ratio of 266.13% and a capital adequacy ratio of 13.34%, reflecting sufficient risk-bearing capacity [1]

Group 1 - The event "2025 Shenyang·Changrong Project - Financial Innovation Development for Agriculture" was held to focus on rural revitalization and promote financial support for farmers [1][3] - A strategic cooperation agreement was signed between Shenyang Agricultural and Rural Bureau and Postal Savings Bank Shenyang Branch, marking a new phase in financial support for rural revitalization [3][6] - The Shenyang Municipal Financial Office emphasized the importance of policy guidance to encourage financial institutions to increase agricultural credit, including measures like agricultural re-loan rewards and interest subsidies for first-time borrowers [3][4] Group 2 - Postal Savings Bank Shenyang Branch has allocated 3 billion yuan for agricultural loans, focusing on nine key industries including food security and livestock farming [4] - The bank has established 858 credit villages and provided loans totaling 7.98 billion yuan, with significant support during the spring farming season [4][5] - Future plans include deepening cooperation with the Agricultural and Rural Bureau and innovating financial services through "agricultural big data + finance" to enhance precision in policy and financial alignment [5][6]

Group 1 - Postal Savings Bank of China (PSBC) is actively supporting agricultural production in Mudanjiang City by providing tailored financial services and credit products to meet the funding needs of various agricultural entities [1] - The bank has launched initiatives such as "sending loans to the countryside" to identify the credit needs of farmers and cooperatives, facilitating access to loans for purchasing fertilizers and agricultural machinery [1] - In 2023, PSBC Mudanjiang City Branch has disbursed over 1.3 billion yuan in personal operating loans, benefiting nearly 5,000 clients and supporting the development of local specialty crops [1] Group 2 - PSBC is innovating financial products and service models to provide precise and efficient financial services for rural revitalization, focusing on county-level support [2] - The bank emphasizes the use of monetary policy tools and products like "Fast Agricultural Loans" and "Industry Loans" to better meet the diverse financial needs of agricultural stakeholders [2] - Continuous optimization of service mechanisms is aimed at directing resources towards county areas to enhance support for rural economic development [2]

■本报记者 郑长灵 "我们这个行业回款周期相对较长，资金回笼速度较慢，同时伴随着较大的囤货需求，每次面临囤货 时，所需的资金量都比较大。"在江西省上饶市横峰县经营烟酒百货多年的张建中告诉《农村金融时 报》记者。 这些年来，凭借敏锐的市场洞察力和不懈努力，张建中的生意越做越大，业务从零售领域拓展到了批 发，市场份额持续扩大。然而，每到囤货阶段时，资金周转问题就让他感到压力巨大。 得知这一情况后，邮储银行上饶市分行辖内横峰县支行的客户经理迅速响应，立即前往现场进行走访。 他们深入张建中的店铺和仓库，与他面对面交流，详细了解实际经营状况、资金需求以及面临的困难。 凭借专业的素养和丰富的经验，客户经理仅用3个工作日就完成了极速贷抵押线下全流程审批，成功为 客户放款140万元。 "我们推出的极速贷产品，具有独特的优势，深受客户喜爱。"邮储银行上饶市分行相关负责人对记者表 示，该分行持续发挥极速贷的产品优势，优化产品要素，充分利用"线上"与"线下"产品融合，加强一体 化服务，降低客户的融资成本，进一步提升客户体验，让更多像张建中这样的个体工商户能够享受到便 捷、高效的金融服务。截至目前，该分行小额贷款余额近89亿元，其中 ...

■本报记者 李美丽 就在这时，邮储银行广州花都支行"三农"客户经理洪丽珍主动联系了他，通过深入沟通和了解，为他提 供了70万元的特色信贷产品"花卉贷"，解了他的燃眉之急。 "我们深知芳村花卉市场的商户们在迎接中秋、国庆以及春节广州'迎春花市'前的3个月至5个月，是他 们扩大种植规模的关键时期，但普遍面临资金周转难题。"洪丽珍介绍，由于市场商户大多采用轻资产 运营模式，难以满足传统银行信贷要求的抵押、担保等条件。为了满足花卉市场商户的多样化金融需 求，邮储银行广州市分行根据芳村花卉市场的产业特点，创新推出了金融产品和服务，为商户量身打造 了"花卉贷"金融产品。 "当时我们没有抵押物，洪经理主动上门，给我们介绍了不需要抵押物的信用贷，还冒着大雨来档口办 理贷前调查，为我们申请贷款的事情尽心尽力，十分感动。"孙梦江介绍，有了70万元资金的支持，他 提升了种植基地的基础设施，及时完成了大量花卉培育，顺利度过了资金最紧张的时期。 如今，孙梦江不仅拥有170多亩的种植基地，而且种植的花卉深受市场欢迎，甚至远销至越南等地。孙 梦江的花卉事业还对促进当地农民增收致富、推动农村经济发展起到了积极作用。 "我们在韶关新丰县茶中村 ...

今年3月，中办印发《关于在全党开展深入贯彻中央八项规定精神学习教育的通知》（以下简称《通 知》）。 建设银行党委表示，会认真落实重点任务，在一体推进学查改中转作风树新风。近期，该行党委理论学 习中心组以"深刻认识加强党的作风建设的重大意义，以优良作风为建设银行高质量发展提供坚强保 障"为主题开展集体学习研讨。此外，建设银行还依托党支部"三会一课"、主题党日等方式，组织党员 干部深学细研， 深入 领会精髓要义。 交通银行党委明确，要坚持对标对表，一体推进学查改，确保学有质量、查有力度、改有成效。该行在 3月底前，在全行46家直属机构党委、217家省辖分行党委以及各基层党组织全面完成学习教育启动部 署。聚焦学习重点，综合运用专题辅导、领导领学、集体研讨、警示教育、分组讨论、个人自学等方 式，开展学习教育读书班。坚持查摆问题与问题整改同步推进，注重立查立改、即知即改，落实落细查 改过程管理。 邮储银行党委认为，要坚持把深入贯彻中央八项规定精神学习教育作为重要的政治任务和全年党建工作 的重点内容，推动学习教育入脑入心、见行见效。该行高质量高标准落实学习教育工作安排，依托党委 理论学习中心组、读书班、"三会一课"、主题 ...

德勤华永会计师事务所(特殊普通合伙) 关于中国邮政储蓄银行股份有限公司向特定对象 发行 A 股股票申请文件的审核问询函的回复 7-2-1 德勤华永会计师事务所(特殊普通合伙) 关于中国邮政储蓄银行股份有限公司向特定对象 发行 A 股股票申请文件的审核问询函的回复 德师报(函)字(25)第 Q00534 号 致：中国邮政储蓄银行股份有限公司 抄送：中国国际金融股份有限公司、中信证券股份有限公司 德勤华永会计师事务所(特殊普通合伙)(以下简称"德勤")接受委托，对中国 邮政储蓄银行股份有限公司(以下简称"发行人") 2022 年度及 2023 年度的财务报 表进行了审计，并分别于 2023 年 3 月 30 日和 2024 年 3 月 28 日出具了德师报(审) 字(23)第 P01658 号及德师报(审)字(24)第 P01658 号无保留意见的审计报告。我们 收到发行人转发的上海证券交易所于 2025 年 4 月 21 日下发的《关于中国邮政储蓄 银行股份有限公司向特定对象发行股票申请文件的审核问询函》(以下简称"审核 问询函")，针对审核问询函中要求会计师核查并发表意见的问题，我们结合已执 行的审计工作以及 ...

致：中国邮政储蓄银行股份有限公司 北京 BEIJING·上海 SHANGHAI·深圳 SHENZHEN·香港 HONG KONG·广州 GUANGZHOU·西安 XI'AN 北京市嘉源律师事务所 邮储银行·向特定对象发行 A 股股票 嘉源·补充法律意见书 关于中国邮政储蓄银行股份有限公司 向特定对象发行 A 股股票的 北京市嘉源律师事务所 关于中国邮政储蓄银行股份有限公司 向特定对象发行 A 股股票的 补充法律意见书 西城区复兴门内大街 158 号远洋大厦 4 楼 中国·北京 二〇二五年四月 本所已于 2025 年 4 月 17 日就公司申请本次发行出具了嘉源（2025）-01-161 号《北京市嘉源律师事务所关于中国邮政储蓄银行股份有限公司向特定对象发行 A 股股票的律师工作报告》以及嘉源（2025）-01-162 号《北京市嘉源律师事务 所关于中国邮政储蓄银行股份有限公司向特定对象发行 A 股股票的法律意见书》 （以下简称"原律师工作报告及法律意见书"）。 公司于 2025 年 4 月 21 日收到上交所出具的上证上审（再融资）〔2025〕117 号《关于中国邮政储蓄银行股份有限公司向特定对象发行股票申请 ...

关于中国邮政储蓄银行股份有限公司 向特定对象发行 A 股股票申请文件的 审核问询函的回复报告 联席保荐机构（联席主承销商） 二〇二五年四月 中国邮政储蓄银行股份有限公司向特定对象发行 A 股股票 审核问询函回复报告 上海证券交易所： 根据贵所于 2025 年 4 月 21 日出具的《关于中国邮政储蓄银行股份有限公司 向特定对象发行股票申请文件的审核问询函》（上证上审（再融资）〔2025〕117 号）（以下简称"审核问询函"）的要求，中国邮政储蓄银行股份有限公司（以 下简称"发行人"或"邮储银行"）已会同中国国际金融股份有限公司、中信证 券股份有限公司（以下简称"联席保荐机构"、"联席保荐人"、"保荐机构" 或"保荐人"）和北京市嘉源律师事务所（以下简称"发行人律师"）、毕马威 华振会计师事务所（特殊普通合伙）（以下简称"毕马威"）、德勤华永会计师 事务所（特殊普通合伙）（以下简称"德勤"，毕马威与德勤合称"申报会计师"） 等有关中介机构，本着勤勉尽责、诚实守信的原则，对审核问询函所列的问题进 行了逐项核查和落实，现回复如下，请予审核。 如无特别说明，本审核问询函回复报告中的简称或名词的释义与《中国邮政 储蓄银 ...