Zhitong HK Stock Investment Diary | June 15
Hong Kong Stock Investment Journal | June 15, 2026
Express News | The National Administration of Financial Regulation has approved Pan Huafeng's qualification for the position of Vice President of Zhejiang Commercial Bank Co., Ltd. (National Administration of Financial Regulation)
“Finance is the new consumption!” Ri Dou Wang Wen’s latest insight: Value investing must overcome eighty-one trials and tribulations—and be pursued with joyous perseverance.
‘Technology is a productive force, but finance drives new consumption.’ ‘The financial industry is a perpetually growing sector.’ ‘Once your understanding is correct, all that remains is persistence—and joyful persistence at that.’ These were the latest insights shared by Wang Wen, Chairman of Ridou Investment, at the 2026 Jin Changjiang Private Fund Development Forum held on June 11. Organized by Securities Times and co-hosted by Changjiang Securities, this year’s forum carried the theme ‘Chasing the Light.’ Sharing the stage with him were Tao Dong of Freshwater Springs and Wu Ge of Changjiang Securities. When it was Wang Wen’s turn to speak, he opened almost bluntly, stating that he ‘would never stand in the spotlight.’ ‘Who says only those standing in the light are...’
Huachuang Securities: Dividend-paying asset sector continues to adjust; emphasize bank allocation opportunities
In 2026, the investment rationale for bank stocks will shift from pure dividend-based defensiveness to a dual-driver model combining dividends and growth.
China Zheshang Bank will distribute its final dividend of HK$1.50533 per 10 shares on July 16.
Zhejiang Commercial Bank (02016) announced that it will pay a final dividend of HK$1.50533 per 10 shares for the year ended December 31, 2025, on July 16, 2026.
CZBANK: POLL RESULTS OF 2025 AGM AND PAYMENT OF FINAL DIVIDEND FOR 2025
China Zheshang Bank (02016.HK): The Supervisory Board will no longer be established.
Gelonghui, June 5 — China Zheshang Bank Co., Ltd. (HKEX: 02016) announced that on June 4, 2026, the Bank received the Approval on the Amendment to the Articles of Association of China Zheshang Bank (Ref. No. Jin Fu [2026] 305) issued by the National Financial Regulatory Administration. The amended Articles of Association have been approved and entered into effect as of June 4, 2026. Pursuant to the provisions of the Articles of Association, the Bank will no longer maintain a Board of Supervisors effective June 4, 2026, and the Audit Committee under the Board of Directors shall assume the statutory duties and powers previously vested in the Board of Supervisors. The Rules of Procedure of the Board of Supervisors of China Zheshang Bank Co., Ltd. and the Guidelines on the Nomination of Supervisors of China Zheshang Bank Co., Ltd.
China Zheshang Bank (02016.HK): Amendments to the Articles of Association Approved by the National Financial Regulatory Administration
Gelonghui, June 5 — China Zheshang Bank (HKEX: 02016) announced that on June 4, 2026, the bank received the Approval on the Amendment to the Articles of Association of China Zheshang Bank (Ref. No. Jin Fu [2026] 305) issued by the National Financial Regulatory Administration. The amended Articles of Association have been approved and have taken effect.
Heightened volatility in Hong Kong equities has spurred defensive trading, with domestic bank stocks showing resilient activity.
Heightened volatility in Hong Kong equities has spurred defensive trading strategies—what advantages do high-dividend assets offer? Mainland Chinese bank stocks have once again shown resilience amid market turbulence; what fundamental strengths remain?
Medium- to long-term time deposits offered by private banks are gradually being phased out, with numerous small and mid-sized banks stepping up issuance of large-denomination certificates of deposit to absorb the outflows—rates starting with '2%' have beg
① Since May, dozens of small and medium-sized banks have continuously offered large-denomination certificates of deposit (CDs) with terms of one year and three years, yielding approximately 2% annually. ② While private banks have been removing high-interest, medium- to long-term fixed deposit products from their offerings, local small and medium-sized banks are stepping in with high-interest, medium- to long-term large-denomination CDs to attract deposits. ③ Virtually all local small and medium-sized banks participate in the deposit insurance scheme that provides coverage up to RMB 500,000.
With the appointment of seasoned professionals from financial markets and risk control, Zheshang Bank's senior management team has completed its final piece.
On June 3, China Zheshang Bank announced that it had received approval from the National Financial Regulatory Administration for Zhou Weixin and Pan Huafeng to assume the positions of deputy governors of the bank...
Kelun Biotech (06990.HK) subscribed to a RMB 300 million structured deposit issued by China Zheshang Bank.
Gelonghui, June 3 — Kelun Biotech (06990.HK) announced that on June 3, 2026, the company entered into Zhejiang Commercial Bank Structured Deposit Agreement IV, pursuant to which the company agreed to subscribe for a principal amount of RMB 300 million in Zhejiang Commercial Bank Structured Deposit IV.
Hong Kong Stock Market Movement | Mainland China Banking Stocks Rebound Collectively; Multiple Banks Hold Indirect Stakes in ChangXin and ChangCun, Potentially Generating Significant Appreciation Gains
Mainland China-listed bank stocks rebounded collectively. As of the time of writing, Guangzhou Rural Commercial Bank (01551.HK) rose 4.64% to HK$1.58; Bank of Communications (03328.HK) gained 2.69% to HK$7.26; Zheshang Bank (02016.HK) climbed 2.1% to HK$2.43; and China Merchants Bank (03968.HK) increased by 2.05% to HK$46.86.
‘Surviving without relying on loans is already a trend,’ as new loans have turned negative—an unusual occurrence—prompting small and mid-sized banks to accelerate their transformation in search of a breakthrough.
① The occurrence of a rare monthly decline in credit growth was unexpected yet understandable. ② The reduction in total assets among small and medium-sized banks is also linked to deliberate regional and sectoral screening. ③ Collectively expanding non-interest income businesses to reduce reliance on interest income from lending and transitioning toward a light-capital model.
One foot on the brake, the other on the accelerator: A closer look at proprietary holdings of affiliated funds by China’s state-owned and joint-stock banks in 2025, with some yielding over 16%
① In 2025, commercial banks reduced their proprietary investments in funds, cutting their holdings of publicly offered funds by approximately RMB 460 billion to RMB 7.35 trillion for the full year. ② Under the related-party definition, the combined fund holdings of 14 major state-owned and nationwide joint-stock commercial banks increased by RMB 112.5 billion in the second half of the year, yet the banking sector as a whole still reduced its fund positions. ③ In terms of investment fund performance, large state-owned banks achieved stable returns, while joint-stock banks experienced significant volatility.
Daily processing capacity increased 16-fold, response time reduced tenfold... With AI deeply integrated into bond trading, what other potential applications are there for fixed-income investment research?
①The optimization of AI in bond trading generally follows the process of 'intelligent pricing - precise matching - rapid settlement.' ②In response to lengthy workflow tasks within investment research scenarios, OpenClaw ensures stable operation through various mechanisms, addressing the limitations of traditional large models in handling long tasks at the architectural level.
Investment demand surged by nearly 50% in the first quarter! A nationwide gold-buying frenzy amid supply contraction may lead to the emergence of more high-end investment products, according to industry insiders.
① If expectations and purchasing power continue to grow, the supply volume will have a more pronounced impact on the next phase of gold prices. ② As core distribution channels, commercial banks such as ICBC and ABC, among other major state-owned banks, have frequently reported sell-outs of investment gold products and shortages of certain items earlier this year. ③ In the future, banks and gold institutions are expected to jointly develop more high value-added investment-oriented gold products.
China Zheshang Bank Updates Timetable for 2025 Final Dividend on H Shares
Listed banks' Q1 retail AUM surpassed 25 trillion yuan at its peak, with wealth management fee income increasing by over 50% at the highest. Third-party distribution played a key role.
①The retail AUM of eight banks that have disclosed their AUM all achieved positive quarter-on-quarter growth in the first quarter, with Agricultural Bank's AUM surpassing 25 trillion yuan. The number of private banking clients expanded rapidly, and for the first time, a joint-stock bank had over 200,000 private banking clients. ②Wealth management fee income showed overall recovery; state-owned large banks maintained leading fee income volumes, while joint-stock banks experienced differentiated growth rates ranging from -9% to +55%.
A new record high! Six A-share banks implemented 'reverse pay cuts' totaling 77.95 million yuan last year, involving both large state-owned banks and joint-stock banks, with smaller banks in the Hong Kong stock market actively following suit.
①The number of banks in the A-share market releasing data this year, as well as the total amount involved, have both reached record highs in recent years. ②If calculated together, a total of 12 banks from the A-share and H-share markets have disclosed specific data on 'reverse compensation recovery,' with the combined amount exceeding 110 million yuan. ③A representative from a joint-stock bank stated that, as banks continue to clear risk assets following the pandemic, it is expected that the amount of 'reverse compensation recovery' will gradually decrease in the future.