Group 1: Risk Management and Operational Strategy - The bank emphasizes maintaining a risk baseline to ensure stable operations [1] - The bank adopts a differentiated business strategy to gain competitive advantages, focusing on continuous development and core strengths [1] - Key measures for risk management include a comprehensive risk management system and independent credit approval processes [1] Group 2: Loan Allocation and Client Focus - Loan allocations primarily target advanced manufacturing, private small and micro enterprises, and import-export businesses [1] - The bank aims to provide comprehensive financial services to clients within its operational region [1] Group 3: Investor Relations and Compliance - The investor relations activity involved thorough communication without disclosing any significant undisclosed information [1] - The meeting was held at the company's headquarters on November 19, 2024, with participation from the investor relations team and representatives from Ping An Pension [1]

Group 1: Competitive Advantage - The bank adopts a differentiated business strategy to adapt to changes in the operating environment, continuously accumulating comparative advantages for high-quality development [1] - Key strategies include deepening operational focus, strengthening core advantages, accelerating technological transformation, and maintaining a risk management baseline to ensure stable operations [1] Group 2: Services for Small and Micro Enterprises - The bank continuously explores new comprehensive operating models for small and micro clients, innovating financial products to meet their needs [1] - It aims to provide more professional and comprehensive financial services to small and micro enterprises [1] Group 3: Risk Management Measures - The bank adheres to the philosophy that "operating a bank is managing risks," continuously improving a comprehensive risk management system [1] - Key measures include implementing a unified credit policy at the business entry level, conducting ongoing industry research for risk identification, and enforcing independent credit approval in the business approval process [1] Group 4: Disclosure Compliance - During the investor relations activity, the company ensured full communication with investors, strictly adhering to regulations without disclosing any undisclosed significant information [1]

证券代码：002142 证券简称：宁波银行 公告编号：2024-047 优先股代码：140001、140007 优先股简称：宁行优01、宁行优02 宁波银行股份有限公司 第一期优先股股息发放实施公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整， 没有虚假记载、误导性陈述或者重大遗漏。 一、股息派发方案 宁波银行股份有限公司（以下简称"公司"）第一期优先股（以 下简称"宁行优 01"，代码 140001）股息发放方案已获公司 2024 年 10 月 28 日召开的第八届董事会第五次临时会议审议通过。现将 宁行优 01 股息发放具体实施事项公告如下： 1、发放金额：本次股息发放的计息起始日为 2023 年 11 月 16 日，按照宁行优 01 票面股息率 4.68%计算，每股发放现金股息人 民币 4.68 元（含税），合计人民币 22,698 万元（含税）。 2、发放对象：截至 2024 年 11 月 15 日深圳证券交易所收市后， 在中国证券登记结算有限责任公司深圳分公司登记在册的全体宁 行优 01 股东。 3、扣税情况：每股税前发放现金股息人民币 4.68 元。根据国 家税法的有关规定： （1） ...

公 司 研 究 资料来源：恒生聚源、东兴证券研究所 2 宁波银行（002142.SZ）：信贷维持 高增，费用管控较好 ——2024 年三季度报告点评 事件：宁波银行发布 2024 年三季度报告：公司实现营收 507.5 亿元 （YOY+7.4%），归母净利润 207.1 亿元（YOY+7.0%）；前三季度年化 ROE 为 14.51%，同比下降 1.43pct；9 月末，公司不良率 0.76%，拨备覆盖率 404.1%。 点评： 3Q24 营收与盈利增速双双环比提升。24Q3 单季营收与盈利增速分别为 8.1%与 10.2%，较 1H24 提升，在当前银行业经营大环境下较为不易。进一 步拆解来看，部分原因是 23Q3 单季营收基数较低，另一部分原因是公司持 续加强信贷投放和优化资负摆布，稳量稳价维持营收平稳增长，同时主动加 强费用管控带动成本收入比同比下降。 1、逆势稳量稳价，净利息收入同比增 16.9%。 在当前信贷需求偏弱的经营环境下，公司主动加大信贷投放，前三季度贷款 维持同比高增 19.6%，且收益率水平不低，我们测算 24Q3 单季生息资产收 益率 4.01%，环比 Q2 提升 3bp，显示出公司强 ...

证券代码：002142 证券简称：宁波银行 公告编号：2024-046 优先股代码：140001、140007 优先股简称：宁行优01、宁行优02 宁波银行股份有限公司 第二期优先股股息发放实施公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整， 没有虚假记载、误导性陈述或者重大遗漏。 宁波银行股份有限公司（以下简称"公司"）第二期优先股（以 下简称"宁行优 02"，代码 140007）股息发放方案已获公司 2024 年 10 月 28 日召开的第八届董事会第五次临时会议审议通过。现将 宁行优 02 股息发放具体实施事项公告如下： 一、股息派发方案 1、发放金额：本次股息发放的计息起始日为 2023 年 11 月 7 日，按照宁行优 02 票面股息率 4.50%计算，每股发放现金股息人 民币 4.5 元（含税），合计人民币 45,000 万元（含税）。 2、发放对象：截至 2024 年 11 月 6 日深圳证券交易所收市后， 在中国证券登记结算有限责任公司深圳分公司登记在册的全体宁 行优 02 股东。 3、扣税情况：每股税前发放现金股息人民币 4.5 元。根据国 家税法的有关规定： （1）对于持有 ...

宁波银行（ [Table_StockNameRptType] 002142） 公司点评 | --- | --- | --- | --- | |------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------|-------------|---------------------------------------------------------------------------------------------------------------------------------- ...

公 司 研 究 银 行 [数据日期 Table_cominfo] 2024/10/29 收盘价 26.28 总股本(万股) 660,359 流通A股/B股(万股) 652,360/0 资产负债率(%) 92.72% 市净率(倍) 0.78 净资产收益率(加权) 10.88 12个月内最高/最低价 28.27/18.35 [Table_Reportdate] 2024年10月30日 公 司 简 评 [Table_invest] 买入（维持） 报告原因：业绩点评 [证券分析师 Table_Authors] 王鸿行 S0630522050001 whxing@longone.com.cn [Table_QuotePic] -30% -22% -14% -6% 3% 11% 19% 27% 23-10 24-01 24-04 24-07 宁波银行 沪深300 [相关研究 Table_Report] 《宁波银行（002142）：规模增长强 劲，减值计提与不良处置保持审慎— —公司简评报告》 2024.09.01 《宁波银行（002142）： 对公贷款 增长强劲，息差降幅收窄——公司简 评报告》 2024.05.05 《 ...

%% %% 丨证券研究报告丨 公司研究丨点评报告丨宁波银行（002142.SZ） [Table_Title] 营收含金量高，信贷扩表强劲 ——2024 年三季报点评 | --- | --- | |----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------| | 报告要点 | | | [Table_Summary] 宁波银行 2024 年前三季度营收同比增速 7.4% ，保持稳定，其中利息净收入增长 16.9% ，继续 | | | 加速增长，生息资产规模扩张较快，同时净息差韧性较强，今年以来未依靠大幅释放投资收益 拉动营收；前三季度归母净利润增速 7.0% ，增速回升幅度好于市场预期。三季度末贷款总额较 | | | 期初增长 16.2% ，单季环比增长 3.3% ，其中对公、零售环比分别增长 ...

Investment Rating - The report maintains a "Recommend" rating for Ningbo Bank, citing its strong interest income performance, narrowing interest margin decline, robust deposit and loan growth, and mature risk control system [1] Core Views - Ningbo Bank achieved a 7.45% YoY increase in operating revenue to 50.753 billion yuan and a 7.02% YoY growth in net profit attributable to parent company to 20.707 billion yuan in the first nine months of 2024 [1] - The bank's interest income showed strong performance with a 16.91% YoY increase in net interest income to 35.317 billion yuan, driven by both volume and price factors [1] - Non-interest income declined by 9.34% YoY to 15.436 billion yuan, mainly due to pressure on intermediary business income and slower growth in other non-interest income [1] - The bank's asset quality remained stable with a non-performing loan ratio of 0.76%, while its provision coverage ratio stood at 404.8% [1] Financial Performance - In Q3 2024, Ningbo Bank's operating revenue grew by 8.12% YoY, and net profit attributable to parent company increased by 10.25% YoY, with a 5.73 percentage point acceleration in growth rate compared to the previous quarter [1] - The bank's annualized net interest margin was 1.85% for the first nine months of 2024, a 2 basis points decline from the first half of 2024, but the rate of decline narrowed [1] - Total loans increased by 16.2% YoY, with corporate loans growing by 23.21% and personal loans increasing by 7.65% [1] - Total deposits grew by 18.99% YoY, with corporate and personal deposits increasing by 25.49% and 19.36% respectively [1] Business Structure - Corporate loans accounted for 55.97% of total loans, up 3.18 percentage points from the end of the previous year [1] - The bank's core tier 1 capital adequacy ratio stood at 9.43%, a slight decrease of 0.21 percentage points from the end of the previous year [1] Future Outlook - The report forecasts BVPS of 30.67/34.50/38.73 yuan for 2024-2026, corresponding to PB ratios of 0.85X/0.75X/0.67X [1] - The bank is expected to maintain its leading position in profitability, leveraging its strong presence in the Yangtze River Delta region and competitive advantage in small and micro business [1]

Investment Rating - The investment rating for the company is "Buy" (maintained) [1][22][23] Core Views - The company has shown strong growth in interest income, with a notable increase in revenue and net profit for the first three quarters of 2024, achieving revenue of 50.753 billion yuan, up 7.4% year-on-year, and a net profit of 20.707 billion yuan, up 7.0% year-on-year [2][11] - The bank's interest income growth is impressive, driven by an increase in interest-earning assets and an improved asset-liability structure, while non-interest income remains under pressure due to market fluctuations [3][11] - The bank's management has effectively optimized costs and expenses, contributing positively to performance [3][11] - The bank's loan and deposit growth remains robust, with total loans reaching 1.4557 trillion yuan, up 19.6% year-on-year, and total deposits at 1.8638 trillion yuan, up 17.6% year-on-year [4][15] Summary by Sections Interest Income Growth and Cost Optimization - The bank's interest income has increased by 16.9%, supported by a 15.1 percentage point contribution from the growth of interest-earning assets [3][11] - Non-interest income has been pressured, with a decline in agency income impacting overall performance [3][11] - Cost management has improved, with a 6.2 percentage point contribution to performance from effective expense control [3][11] Corporate Lending and Deposit Growth - The bank's total loans and deposits have shown strong growth, with corporate loans continuing to support credit expansion [4][15] - The bank's deposit growth strategy includes enhancing financial technology capabilities and wealth management services [15][18] Structural Factors Supporting Net Interest Margin - The net interest margin for the first three quarters of 2024 is 1.85%, with a slight decrease from the first half of the year [4][18] - The bank's asset yield has improved due to a favorable shift in the asset structure, while the cost of interest-bearing liabilities has shown slight rigidity [4][18] Asset Quality and Non-Performing Loans - The non-performing loan ratio remains stable at 0.76%, with a coverage ratio of 405%, indicating strong risk mitigation capabilities [4][19][21] - The bank has increased its efforts in managing non-performing loans, maintaining a solid asset quality profile [19][21] Investment Recommendations - The bank is expected to achieve a net profit growth of 7.3%, 9.2%, and 9.7% for 2024-2026, with corresponding price-to-book ratios of 0.86, 0.76, and 0.68 [5][22][23]