000076 SSE Financials Sector Equal Weight Index
- 4248.17
- +34.89+0.83%
Hua Xia Bank has completed the issuance of 40 billion perpetual bonds. Will the development pressure be relieved as performance is under pressure and interest rate spreads decline?
Hua Xia Bank announced the completion of the first phase of the capital bond issuance in 2024, with a scale of 40 billion yuan. The funds raised will be used to supplement the company's other tier one capital. Previously, Zhongcheng Credit International analyzed that as a listed company, Hua Xia Bank has diversified channels for capital supplementation, but future business development will still put sustained pressure on the bank's capital.
China Life Insurance has also parted ways with PwC, and in the financial industry, there have been announcements from Haitong, CMB, PICC, and others, many of which attribute it to the 'principle of prudence'.
① China Life Insurance announced plans to replace Ernst & Young as the company's 2024 auditor, and PricewaterhouseCoopers will no longer cooperate; ② A total of 14 listed companies have cancelled cooperation with PricewaterhouseCoopers, and financial companies already account for one-third; ③ A number of financial institutions mentioned the “principle of prudence” and concerns about certain uncertainties in the reasons for canceling the cooperation.
Bank of communications announced that it will concentrate on cleaning up this type of debit card. What is the situation? Industry insiders: upgrading and replacing to save costs.
On June 7, Bank of Communications announced on its official website that in order to further improve its account services, it will concentrate on clearing unit debit cards, and existing accounts will be transferred for balance and cancelled. Customers who have further card needs can apply for a unit settlement card at the Bank of Communications branch. Industry insiders believe that this move can be seen as clearing some bank businesses that already have better alternatives and is conducive to cost savings.
Completely remove! Minsheng Bank suspends the 'Sui Xin Cun' and 'Li Duo Duo' automatic purchase and renewal services. Experts say the trend of deposit regularity is increasing, and the listed interest rate will continue to decline.
Minsheng Bank announced that it will stop the automatic purchase and automatic renewal services for the "Flexible Savings" and "Li Duo Duo" products from June 13th, and this business will be completely removed after the expiration of current stock products. Experts believe that in recent years, the trend of deposit becoming more and more fixed-term has intensified, and banks urgently need to adjust long-term, high-interest deposit products to relieve the pressure on the liability side, and there is still a need to lower the listed deposit interest rates in the future.
Large buy-in report of northbound funds: Bank of Jiangsu received a net sell-off of 754 million yuan.
On June 3rd, Northbound funds made a significant net purchase of 1.539 billion yuan throughout the day.
The third phase of the National Big Fund was officially established! The semiconductor industry is facing significant benefits; which targets are expected to benefit?
Regarding the specific investment of the third phase of the Big Fund, CITIC Securities expects semiconductor manufacturing to remain the largest, and is expected to further increase support for critical areas such as equipment, materials, components, EDA, and IP. It is recommended to continue to focus on leading companies in related fields.
After Li Quan, the former chairman of Xinhua Insurance, lost contact with Zhang Chi, CEO of Xinhua Assets? Industry insiders reveal the inside story
① Zhang Chi, CEO of Xinhua Assets, is also suspected to be out of touch; ② Xinhua Insurance issues have been frequent in the past two years, and they are all related to the use of insurance funds; ③ Zhang Chi joined Xinhua Assets in March 2011 and was promoted to president in 2019.
Commercial Bank Debuts! Six major banks invested 114 billion yuan to invest in the third phase of the Big Fund. Industry: New capital regulations will benefit banks to participate in similar businesses
① The third phase of the National Big Fund was recently established, and six major state-owned banks, including China Agricultural Construction Bank and the Postbank, participated in the investment. The six major state-owned banks are expected to invest a total of 114 billion yuan, accounting for about 33.14% of the shares. ② After the implementation of the new “Commercial Bank Capital Management Measures”, the risk weight of shares specially approved by the State Council was lowered due to policy reasons, which also helped banks to participate in investing in large national funds.
Bank of China and CCB announced on the same day! It is planned to invest 21.5 billion yuan in the third phase of the National Big Fund
① CCB Hong Kong Stock Exchange announced that it intends to invest RMB 21.5 billion in China Integrated Circuit Industry Investment Fund Phase III Co., Ltd. ② The company is jointly owned by 19 shareholders, including the Ministry of Finance, Guokai Finance Co., Ltd., Shanghai Guosheng (Group) Co., Ltd., Industrial and Commercial Bank of China Co., Ltd., China Construction Bank Co., Ltd., Agricultural Bank of China Co., Ltd., and Bank of China Co., Ltd.
The first listed insurer after the new “Nine Rules” to follow up on “multiple dividends in a year”, and Xinhua Insurance plans to distribute profits for the medium term
① Xinhua Insurance announced that it plans to follow up on the 2024 mid-term dividend, with an interim dividend ratio of no more than 30%. The annual profit distribution plan will take into account the interim profit distribution plan; ② Xinhua Insurance is the first listed insurance institution to follow up on the mid-term dividend since the release of the new “National Nine Rules”. Previously, Ping An of China had implemented mid-term dividends for many years and was well received and recognized by the agency.
Hong Kong stock review: The Science Index once plummeted 3%, the Hang Seng Index fell 4 times in a row, and the weight of technology, finance, etc. continued to decline
Glonghui, May 24 | Hong Kong stocks continued to pull back, and market sentiment continued to be sluggish. The decline of the three major indices widened further in the afternoon. At one point, the Hang Seng Technology Index plummeted by 3% and eventually closed down 2.48%. The Hang Seng Index and China Index fell 1.38% and 1.44% respectively, and emerged from four consecutive declines. On the market, the weight of large technology stocks, large financial stocks, and leading Chinese stocks dragged down the market. Kuaishou fell more than 4%, and after Bilibili's results fell by more than 11%. China Life Insurance, CICC, China Merchants Bank, etc. fell one after another, and all recorded continuous declines; institutions said that the impact of real estate policies on new home sales still needs to be observed. Domestic housing stocks have declined significantly. R&F
After “515,” banks continued to reduce “high-interest” public agreement deposits. Minsheng Bank recently adjusted three types of products, and more banks may follow suit
① On May 22, Minsheng Bank posted an article on its official website stating that the bank will adjust RMB unit agreement deposits, RMB liquid profit products, and smart notification deposits. ② Since late April, a number of banks have continued to lower interest rates on Chinese unit agreement deposits to 1.15%. ③ A number of banks have lowered interest rates on unit agreements, which is closely related to the requirements of the regulatory authorities. I believe more banks will follow suit in the future.
ICBC AXA Life welcomes new coach Wang Dufu as chairman. How can we solve the problem that it is still difficult to make a profit by relying on “big trees”?
① In the first quarter, ICBC AXA achieved net profit of 28 million yuan, a year-on-year decrease of 90%; ② In addition to the president, ICBC Life Insurance's new senior management level is basically in place; ③ it will take time for the industry to mitigate stock risks and cultivate new business models.
The chairman and president of Societe Generale Consumer Finance were in place at the same time. Like the previous one, they all came from the parent bank Societe Generale Bank. Executives of at least 8 consumer finance companies changed during the year
① Societe Generale Consumer Finance announced changes in the legal representative and president of the company. This is also the first time that it has changed its chairman since its establishment in 2014; ② Societe Generale Consumer Finance's first chairman Zheng Haiqing and CEO Lin Chun all came from Societe Generale Bank. Chairman Dai Xuxian and CEO Liu Qinghua continue this tradition; ③ In the first half of this year, at least 8 consumer finance companies experienced executive changes, 7 of which were banking companies.
China Ping An's two shareholding plans have re-entered the “buy buy buy” market. The participation capital was reduced by 1 billion dollars compared to previous years, and it is clear that it will buy H shares for the first time
① China Ping An's two shareholding plans have once again entered the market to buy shares. The annual core personnel shareholding plan has already bought more than 157 million yuan, and has now made a profit. ② According to the reporter's statistics, the total amount of share purchase capital participating in the two major plans of Ping An of China during the year decreased by more than 1 billion dollars compared to 2023, which is less than the amount of participation in 2022. ③ However, unlike previous years, which mainly bought shares in the A-share market, Ping An of China plans to buy shares in the H share market this year.
Can banks actually benefit from the “four arrows going hand in hand” in real estate finance? Industry: Both people, real estate, and money are involved, and the impact on asset quality is better than pricing
Xiao Feifei, chief banking analyst at CITIC Securities, believes that in terms of current real estate finance logic, quality is more important than pricing.
Industrial Bank issued another 20 billion second-tier capital bonds in the second quarter, and the bank accelerated the issuance of 2 permanent bonds by more than 314.7 billion yuan
① Since the second quarter of this year, 18 banks have successively issued second-tier capital bonds and perpetual bonds (including proposed issuance), with a total issuance scale of 314.75 billion yuan; ② Since May, the yield on bank capital bonds has diverged. Experts believe that there is still room for strength under the imbalance in the supply and demand structure.
A wave of chairman resignations? Overnight, 5 listed companies announced one after another!
① According to the announcement, 6 senior board chairman-level officials announced their resignation on the evening of May 14, involving 5 listed companies. ② Among them, Shanghai Jiahua Pan Qiusheng and Wu Jin Stainless Zhu Guoliang all had their original terms due to expire this year.
Salary cuts to sole proprietors? Huaxia Bank plans to adjust the directors' allowance standards. The sole director's income or “sharp rise and fall”, the reduction is about 9%
① Huaxia Bank's bill on the adjustment of directors' allowance standards attracted market attention. Due to changes in calculation rules, the bank's sole manager's allowance will probably drop to a certain extent from the level in the previous year's financial report. ② The new directors' allowance standard is 355,000 yuan/person/year. According to the 2023 financial report, Huaxia Bank's sole director's salary is generally around 390,000 yuan. Based on this initial calculation, the sole director's allowance was reduced by about 9%.
There are still two days until the regulatory deadline. The Postbank officially announced that the stock smart notification deposit is “not continuing” due. More than 20 banks announced in May
① On the afternoon of May 13, the Postal Savings Bank of China issued a notice on its official website. Starting May 15 this year, personal notification deposit products (including Dream Plus Post) products that can be automatically transferred will no longer be automatically transferred. ② Following the Bank of Communications's announcement last week, this is another major state-owned bank that recently removed smart notification deposit products. ③ Since entering May, more than 20 banks have successively announced the removal of such high-interest deposit products.