A-share listed banks' semi-annual report: 41 banks continue to explore interest rate spreads, 12 banks experience negative growth in net income. The window for another round of interest rate cuts for existing housing loans has opened, posing a potential c

① In the first half of the year, the net interest margin of 41 banks collectively declined, with 9 banks experiencing a decrease of 2% or more in their interest margin compared to the same period last year; there were as many as 12 banks with a negative growth in net income attributable to the parent, an increase of 7 compared to the same period last year. ② Experts believe that the continued narrowing of the net interest margin has put certain pressure on the profitability of banks, and the possible reduction of interest rates for existing housing loans in the near future will further challenge the interest margin of banks and increase operating pressure.

cls.cnAug 31 03:53 ET

Tencent, NetEase Mull Game Strategy in Japan Amid Growth in Local Market China - Report

Seeking AlphaAug 30 06:41 ET

Financial Statements and Related Announcement-Half Yearly Results

SGXAug 30 05:36 ET · Announcements

Banks' stocks are experiencing a "rare" big drop, JPMorgan: There is no reason for it!

JPMorgan believes that the trend of funds flowing into high-yielding stocks will continue, and the performance of bank stocks is not significantly below expectations. The performance growth rate of JPMorgan, Bank of Communications, Ningbo Bank, and China Citic Bank in the first half of 2024 and expected earnings for the fiscal year 2024 are still on track, so there is no need to overly worry about banks reducing dividends due to capital pressure.

wallstreetcnAug 30 00:53 ET

The effect of interest rate cuts on deposits is gradually becoming apparent, with interest expenses of many national banks decreasing in the first half of the year, and some banks reducing by more than 7%.

① According to the semi-annual reports of joint stock banks and state-owned banks, although the trend of deposit regularization is obvious, and coupled with the expansion of deposit scale, the cost of debt has actually been reduced for many banks. ② Recent earnings conferences have shown that executives of various banks have expressed the need to adjust the asset-liability structure, strengthen cost control of liabilities, and attract low-cost deposits. This will be the focus and deployment direction for commercial banks in the second half of the year.

cls.cnAug 29 08:57 ET

Meituan's conference call: The board of directors has approved a share buyback of 1 billion US dollars, and it is expected to achieve daily 0.1 billion takeaway orders during the peak season next year.

The strong growth trend of order volume and GTV in this quarter can continue, with the year-on-year growth rates of various sub-businesses in the offline liquor and travel business all exceeding 60% this quarter. It is expected that the growth rate of operating profit will be higher than the growth rates of income and order volume, maintaining optimism for long-term growth.

wallstreetcnAug 28 10:21 ET