本行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。 股票代码：601818 股票简称：光大银行 公告编号：临 2024-054 中国光大银行股份有限公司 关于副行长任职资格核准的公告 2024 年 9 月 23 日 中国光大银行股份有限公司（简称本行）于近日收到《国家金融 监督管理总局关于刘彦光大银行副行长任职资格的批复》（金复〔2024〕 614 号），国家金融监督管理总局已于 2024 年 9 月 14 日核准刘彦女 士本行副行长的任职资格。 刘彦女士简要情况详见本行于 2024 年 7 月 9 日刊登在《中国证 券报》《上海证券报》《证券时报》《证券日报》、上海证券交易所网站 （www.sse.com.cn）及本行网站（www.cebbank.com）的《中国光大 银行股份有限公司第九届董事会第二十次会议决议公告》。 特此公告。 中国光大银行股份有限公司董事会 ...

Investment Rating - The investment rating for the company is "Outperform the Market" [1][4]. Core Insights - The company's revenue decline has narrowed, and the net profit growth has increased on a quarter-on-quarter basis. The capital adequacy ratio has significantly improved, continuously meeting regulatory requirements, with good loan growth and an expanding retail scale [4][5]. - The company has achieved a total loan amount exceeding 3.8 trillion yuan, with a year-on-year growth of 4.0%. The growth rates for technology finance, green finance, and inclusive finance loans were +31.4%, +28.6%, and +13.2%, respectively [4][5]. - The projected EPS for 2024-2026 is 0.61, 0.64, and 0.66 yuan, with corresponding net profit growth rates of 0.61%, 3.47%, and 3.74% [4][5]. Summary by Sections Financial Performance - In H1 2024, the company's revenue decreased by 8.8% year-on-year, while the net profit increased by 1.7% year-on-year. The capital adequacy ratio stood at 13.87%, up by 0.37 percentage points year-on-year [4][5]. - The company plans to implement a specific mid-term dividend plan after fulfilling corporate governance procedures [4]. Loan and Retail Growth - The company has maintained a strong focus on serving the real economy, with total loans surpassing 3.8 trillion yuan, reflecting a 4.0% year-on-year increase. Corporate loans grew by 7.5% year-on-year [4]. - Retail assets under management (AUM) reached 2.87 trillion yuan, an increase of 5.42% from the end of 2023, with wealth management product management scale growing by 13.74% [4]. Valuation and Forecast - The reasonable value range for the company is estimated to be between 3.57 and 3.69 yuan, corresponding to a PE ratio of 5.84-6.03 times for 2024 [4][5]. - The company maintains a strong capital position, with total capital net amount reaching 663.8 billion yuan, an increase of 3.4 percentage points year-on-year [4].

Investment Rating - The report maintains a "Strongly Recommend" rating for China Everbright Bank (601818 SH) [3] Core Views - Everbright Bank's 1H24 revenue was RMB 698 1 billion, down 8 8% YoY, while net profit attributable to parent company increased 1 7% YoY to RMB 244 9 billion [2] - The bank's annualized weighted average ROE was 9 51%, down 0 63pct YoY [2] - Profit growth in 1H24 improved by 1 3pct compared to 1Q24, driven by provision reversal, scale growth, and stable non-interest income [2] - Net interest margin (NIM) stabilized at a low level, with 1H24 NIM at 1 54%, down 28bp YoY, but the decline narrowed in Q2 [2] - Asset quality remained stable, with a non-performing loan (NPL) ratio of 1 25% at the end of June, unchanged from the previous quarter [3] - The provision coverage ratio decreased by 13pct to 172 45% at the end of June, mainly due to reduced provision expenses [3] Financial Performance - The bank's net interest income in 1H24 was RMB 1004 billion, down 6 6% YoY [12] - Non-interest income decreased slightly by 0 4% YoY, with other non-interest income surging 33 8% due to a bond market rally [2] - The bank's loan growth in 1H24 was 4 5% YoY, while deposits decreased by 0 4% YoY [2] - The deposit cost rate in 1H24 decreased by 6bp compared to 2023 [2] Asset Quality - The corporate loan NPL ratio increased by 56bp to 1 79% at the end of June, mainly due to higher NPLs in the wholesale and retail sector [3] - Retail loan NPL ratio decreased compared to the beginning of the year [3] - The bank's non-performing loan formation rate was 0 75%, at a low level [3] Strategic Focus - Everbright Bank is focusing on structural optimization and maintaining stable asset quality [2] - The bank is actively adjusting its liability structure, with deposit costs declining [2] - The wealth management strategy is progressing steadily, with core business indicators performing well [3] Valuation and Forecast - The bank's 2024E EPS is projected at RMB 0 70, with a 2024E PB of 0 39x [7] - The report forecasts 2023-2025 net profit growth rates of 0 9%, 3 7%, and 4 5% respectively [3] - The bank's BVPS is expected to increase from RMB 7 81 in 2023 to RMB 9 30 in 2025 [3]

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2024年8月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 中國光大銀行股份有限公司（於中華人民共和國註冊成立的股份有限公司） 呈交日期: 2024年9月2日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 06818 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 12,678,735,500 | RMB | | 1 RMB | | 12,678,735,500 | | 增加 / 減少 (-) | | | 0 | | | RMB | | 0 | | 本月底結存 | | | 12,678,735,500 | RMB | | 1 RMB | | 12,678,735,500 | ...

中国光大银行股份有限公司（简称本行）在本行 A 股可转换公司 债券转股并摘牌后，就变更注册资本事宜向国家金融监督管理总局 （简称金融监管总局）提出申请。本行于近日收到《国家金融监督管 理总局关于光大银行变更注册资本的批复》（金复〔2024〕553 号）， 金融监管总局同意本行注册资本变更为人民币 59,085,551,061 元。 本行将按照有关规定办理变更事宜。 股票代码：601818 股票简称：光大银行 公告编号：临 2024-053 中国光大银行股份有限公司 关于变更注册资本获金融监管总局核准的公告 本行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。 特此公告。 中国光大银行股份有限公司董事会 2024 年 9 月 2 日 ...

Investment Rating - The report maintains a "Recommend" rating for the company with a target price of 4.34 CNY, compared to the current price of 3.06 CNY [2][9]. Core Views - The company's revenue for the first half of 2024 (24H1) was 69.808 billion CNY, a year-on-year decrease of 8.77%, while the net profit attributable to shareholders was 24.487 billion CNY, an increase of 1.72% year-on-year [2][3]. - The non-performing loan ratio remained stable at 1.25%, with a provision coverage ratio of 172.45% [2][3]. - The bank's net interest income faced pressure, with a year-on-year decline of 12.5% in Q2, but the decline in interest margin has narrowed significantly [3][9]. - Non-interest income showed improvement, with a 33.83% increase in other non-interest income, primarily due to increased investment income [3][9]. - The bank's retail loan growth was weak, with a 1.7% decrease in retail loans, while corporate loans grew by 7.9% [3][9]. Summary by Relevant Sections Financial Performance - For 24H1, the bank's operating income was 69.808 billion CNY, down 8.77% year-on-year, while net profit attributable to shareholders was 24.487 billion CNY, up 1.72% year-on-year [2][3]. - The bank's net interest income for Q2 was 23.919 billion CNY, reflecting a year-on-year decline of 12.5% and a quarter-on-quarter decline of 1.1% [3][9]. - The annualized net interest margin for Q2 was 1.52%, with the asset yield under pressure at 3.72% [3][9]. Asset Quality - The non-performing loan ratio was stable at 1.25%, with a slight increase in the annualized net generation rate to 1.67% [3][9]. - The provision coverage ratio decreased by 8.8 percentage points to 172.45% [3][9]. - The bank has improved its asset quality over the years, with a notable decrease from a high of 1.6% in 2016 [3][9]. Loan Growth - Total loans increased by 4% year-on-year, with corporate loans growing by 7.9% and retail loans decreasing by 1.7% [3][9]. - The bank has focused on increasing loans to the manufacturing sector and private enterprises, with manufacturing loans up 15.9% year-to-date [3][9]. - Retail loan demand remains weak, with a significant reduction in credit card loans and mortgage demand [3][9]. Future Outlook - The bank's revenue growth is projected to be -3.2% in 2024, followed by 3.3% in 2025 and 6.3% in 2026 [9][10]. - The net profit growth is expected to be -4.6% in 2024, with a gradual recovery in subsequent years [9][10]. - The current dividend yield is 5.65%, indicating good investment value [9].

光大银行（601818.SH）2024 年半年报点评 利润延续正增，存款成本改善 2024 年 09 月 01 日 事件：8 月 31 日，光大银行发布 24 年中报。24H1 累计实现营收 698 亿元， YoY-8.8%；归母净利润245 亿元，YoY+1.7%；不良率1.25%，拨备覆盖率172%。 ➢ 营收增速降幅收窄，其他非息收入成为核心支撑。光大银行 24H1 营收同比 下降 8.8%，较 24Q1 上升 0.8pct。拆分营收来看，24H1 净利息收入、中收、 其他非息收入同比分别-12.1%、-21.7%、+33.8%，增速较 24Q1 分别-0.4pct、 +3.1pct、-5.5pct。净利息收入负增幅度进一步扩大，主要是息差降幅较大，难 以通过规模扩张弥补息差收窄带来的不利影响。或受居民消费意愿尚在恢复等因 素影响，24H1 银行卡手续费收入降幅较大，致使中收增长持续低迷。其他非息 收入增速延续亮眼表现，主要得益于银行择机处置金融资产，投资收益大幅增厚。 ➢ 利润增速持续回暖。光大银行 24H1 归母净利润同比增长 1.7%，较 24Q1 上升 1.3pct。支出端，24H1 末成本收入 ...

Investment Rating - The investment rating for the company is "Outperform" (Maintain) [2] Core Views - The revenue decline has narrowed, and the certainty of mid-term dividends has increased [3] - The bank achieved a revenue of 69.8 billion yuan in the first half of 2024, a year-on-year decrease of 8.77%, but the decline is less than in the first quarter of 2024 [3] - The net interest margin decreased by 28 basis points to 1.54% year-on-year, primarily due to a significant drop in loan yields [3] - The bank's net profit attributable to shareholders was 24.5 billion yuan, showing a year-on-year increase of 1.72%, maintaining stable profitability [3] - The bank's profit forecast for 2024-2026 has been adjusted to 41.9 billion, 44.2 billion, and 46.4 billion yuan respectively, with year-on-year growth rates of 2.8%, 5.5%, and 4.9% [3] - The current stock price corresponds to a price-to-book ratio of 0.3 for 2024-2026, and the "Outperform" rating is maintained due to the narrowing revenue decline and stable asset quality [3] Summary by Sections Revenue and Profitability - In Q2 2024, the bank's revenue decreased by 7.93%, a smaller decline compared to Q1 2024, with net interest income and non-interest income changing by -12.48% and +3.35% respectively [3] - The bank's total assets grew at a marginally declining rate, with a focus on maintaining asset quality [5] Loan and Deposit Performance - As of the end of Q2 2024, corporate loan balances reached 2.27 trillion yuan, a year-on-year increase of 7.46%, outpacing the overall loan growth rate of 4.00% [4] - Retail loan demand remains weak, with a year-on-year decline of 1.69% as of Q2 2024 [4] - Total deposits were 3.92 trillion yuan, down 4.21% year-on-year, primarily due to negative growth in corporate deposits [4] Asset Quality - The non-performing loan ratio remained stable at 1.25% for three consecutive quarters, while the attention rate increased by 15 basis points to 1.99% [5] - The bank has increased its efforts in handling non-performing loans, maintaining overall asset quality stability [5] Dividends and Valuation - The bank announced a mid-term dividend on August 30, 2024, which is expected to enhance valuation recovery potential [5]

Investment Rating - The investment rating for the company is "Accumulate" (maintained) [2][22]. Core Insights - The company's revenue decline has narrowed, with significant contributions from investment income. In the first half of 2024, the company achieved revenue of 69.8 billion yuan, a year-on-year decrease of 8.77%, which is an improvement compared to the first quarter of 2024. The net interest margin decreased by 28 basis points to 1.54% due to a significant drop in loan yield. The net profit attributable to shareholders for the first half of 2024 was 24.5 billion yuan, reflecting a year-on-year increase of 1.72%, indicating stable profitability [3][23]. - The company has a solid support for corporate loans, with a significant decrease in deposit costs. As of the end of Q2 2024, the corporate loan balance was 2.27 trillion yuan, a year-on-year increase of 7.46%, outpacing the overall loan growth rate of 4.00%. Retail loan demand remains weak, with a year-on-year decrease of 1.69% [4][24]. - Asset quality remains stable, with a non-performing loan ratio holding steady at 1.25% for three consecutive quarters. The coverage ratio for provisions decreased to 172.45% due to increased write-off efforts. The core tier one capital adequacy ratio has improved, and the announcement of a mid-term dividend is expected to enhance valuation recovery [5][25]. Summary by Sections Revenue and Profitability - The company reported a revenue of 69.8 billion yuan in H1 2024, down 8.77% year-on-year, with a net profit of 24.5 billion yuan, up 1.72% year-on-year. The profit forecast for 2024-2026 has been adjusted to 41.9 billion, 44.2 billion, and 46.4 billion yuan respectively, with year-on-year growth rates of 2.8%, 5.5%, and 4.9% [3][23][26]. Loan and Deposit Performance - Corporate loans showed a robust growth of 7.46% year-on-year, while retail loans declined by 1.69%. Total deposits reached 3.92 trillion yuan, down 4.21% year-on-year, primarily due to a decrease in corporate deposits [4][24]. Asset Quality - The non-performing loan ratio remained stable at 1.25%, with a slight increase in the attention ratio to 1.99%. The company has focused on managing non-performing loans, maintaining overall asset quality stability [5][25].

光大银行（601818.SH）2024 年中报点评 中性 资产扩张放缓，投资收益增长较多 营收同比下降，净利润维持正增长。公司 2024 上半年实现营业收入 698 亿 元，同比下降 8.8%，降幅较一季度收窄 0.8 个百分点；上半年实现归母净利 润 245 亿元，同比增长 1.7%，增速较一季度回升 1.3 个百分点。上半年加权 平均净资产收益率 9.5%，同比下降 0.6 个百分点。从业绩归因来看，主要是 净息差拖累净利润增长，其他非息收入与信用减值损失支撑净利润增速。 资产扩张步伐放缓。2024 年二季度末总资产同比增长 0.6%至 6.8 万亿元， 资产增速持续降低，规模扩张更为谨慎。其中贷款总额同比增长 4.0%，存款 同比下降 5.7%。公司二季度末核心一级资本充足率 9.59%，较年初提高 0.41 个百分点。 净息差下降。公司披露的上半年日均净息差 1.54%，同比降低 28bps。贷款 收益率同比下降 51bps，生息资产收益率同比下降 32bps，预计主要受 LPR 下降以及存量房贷利率下调等因素影响；负债成本有所改善，但降幅明显低 于资产端，其中存款付息率同比下降 9bps，整体负债成 ...