In addition, since the second quarter, commercial banks in the bill financing new loans decreased proportion, replaced by higher interest rates and long-term loans. For banks, long-term loans accounting for an increase means the expansion of margins for the business growth to provide a guarantee on bank profit contribution is immediate.

In addition, since the second quarter, commercial banks in the bill financing new loans decreased proportion, replaced by higher interest rates and long-term loans. For banks, long-term loans accounting for an increase means the expansion of margins for the business growth to provide a guarantee on bank profit contribution is immediate.

For example, mid-year report showed bank interest margins improve as the fastest listed Chinese banks, the company's long-term loans increased proportion, discount business loans accounting for 0.18% in the second quarter, loans increased bargaining power and faster, Therefore, the yield of interest-bearing assets, the chain in the second quarter increased 13 basis points.

Asset quality continued to improve

For 2009, a large number of lending banks may result in greatly increased concerns about bad loans, this year's mid-year report shows that overall asset quality of banks continued to improve the situation.

13 listed banks of bad loans than the beginning of realization of the "double down" in the defect rate is declining, fewer bad places, indicating the overall asset quality of banks listed on stability. Among them, Shenzhen Development Bank of Ningbo (12.63,0.13,1.04%), China Everbright Bank, China Merchants Bank (13.72,0.13,0.96%), and a number of banks have bad loans ratio down to 1%.

However, the data show, first half of 2010, Bank, Industrial Bank (25.97,0.34,1.33%) and Minsheng Bank (5.44,0.02,0.37%) non-performing loan balance rebound. One, Bank non-performing loans increased by 324 million yuan over the beginning, Minsheng Bank, Industrial Bank non-performing loans increased by 115 million yuan and 111 million.

In addition, all listed banks in the first half to further enhance the provision coverage, provide the basis for the second half of profit growth. Only the Agricultural Bank (2.69,0.00,0.00%) lower than 150% of regulatory agencies lower provision coverage, only 136.11%; Shanghai Pudong Development Bank (14.08,0.10,0.72%), the maximum coverage provision, to 302.26% .

Center Daily News revealed that the first half of the domestic market is still a substantial increase in provision coverage of banks. This shows that the macroeconomic situation and the banking sector to credit security cautious for me. Analysts pointed out that the provision coverage increased performance will undoubtedly enhance the purity of bank, commercial banks increased potential problems for the future ability to cope with the assets. Moreover, the provision for the impact of current profits may also be compensated in the future, if the bank's asset quality has markedly improved, clear bad loans received well, write back, you can increase the current operating profits.

The new rules do not affect the silver letter

The CBRC issued early in August, "co-operation on financial regulatory matters Fan Yinxin notice" requiring banks to balance-sheet assets onto the table in the next two years. From the latest data, from January to June 2010, the Trust issued by banks reached 2.8 trillion size of financial products. Bank and Credit fears return form will be commercial banks, a negative impact on future profits. However, many people have negative views of the industry.

ICBC President Yang Kaisheng said the new rules on trust and cooperation Bank Industrial and Commercial Bank of China (4.12,0.02,0.49%), the scale of credit and capital adequacy ratio is not significant. The first half of this year, ICBC bank financial balance of 440 billion yuan products, financial wealth management products including 235 billion yuan, of which more than 1,000 billion yuan will be the natural expiration of the next two years. "The real need to turn the table only 80 billion yuan of assets, two years is sufficient to gradually digest the implications of it." Yang Kaisheng said.

Bank of China president Li Lihui said the Trust Bank financing class financial products balance of 680 billion yuan, 41.4 billion yuan of credit asset class, most of which expire within one year or so in late 2011, according to regulations need to turn the table only 14 billion yuan within.

Secretary of the Board Chen Cai CCB CCB performance in the conference, said China Construction Bank Bank letter of credit co-operation among the class of financial products around the balance of 180 billion, two years later to be transferred to the balance sheet is only about 60 billion yuan, the proportion of not large, financial products, credit transfer will not significantly affect the size.

Minsheng Bank, Bank and other relevant responsible person also pointed out that the assets transferred to the table silver letters on the scale of bank assets, profits, capital and so the impact will not be great.

Yang Kaisheng said the ICBC banking revenue accounted for only about 1% of all income, limited impact on bank profitability.

Li Lihui said: "Bank of China, the key is to highlight the current competitive advantage, promote business innovation, and promote the overall financial business development co-operation to make up for reduced silver letter impact."

Interim Report listed 30 bank full debut. Data show that in the first half, 16 listed banks have been greatly enhance the profitability, net profit of 343.398 billion yuan, up 45.75 percent, exceeding previous expectations. According to China Securities News, estimated that there are currently two cities ICBC, BOC, China Construction Bank, CITIC, China, Nanjing six banks pending equity financing programs, scale up to 231.8 billion yuan.

Data show that ICBC, BOC, CCB total size of the financing of 180 billion yuan, of which Bank A + H allotment of shares for 60 billion yuan; ICBC A + H allotment of shares for 45 billion yuan; Construction Bank, A + H allotment of shares for 75 billion element. Workers, in construction of three lines of executives are disclosed in the interim results conference, try refinancing completed during the year. Analysts pointed out that the formation of three lines or get together and allotment of shares for the fourth quarter of the situation. Although the three-line financing choice of time window overlap, but the majority shareholder participation would ease the pressure on the secondary market for A shares.

Joint-stock banks, Huaxia Bank (11.85,0.00,0.00%) said that the three former shareholders of the proposed private placement financing, the amount of not more than 20.8 billion yuan to supplement core capital. It is reported that the financing package was the first time in 2010 adopted the provisional shareholders meeting. CITIC Bank (5.72,0.04,0.70%) A + H thrown 26.0 billion refinancing plan allotment. However, CITIC Bank, said the three lines in order to make way for the fourth quarter of centralized financing, CITIC Bank Rights Issue timetable initially for the first quarter of next year.

City firm, the Nanjing Bank (11.26,0.10,0.90%) December 18, 2009 announced plans to not more than 2.5 shares per 10 shares to all shareholders to subscribe for the proportion of financing, the net funds raised is expected to not more than 5 billion yuan.

Several commercial banks had issued "on the company's long-term capital planning report", the next two to three years of capital management objective is higher than the 11.5% capital adequacy and core capital adequacy ratio reached or exceeded 7%. From the current situation, commercial banks, there is still funding gaps. Number of banks said that the future will be through overseas listings, innovative tier one capital, hybrid capital bonds and other external sources to form a diverse, dynamic and complementary mechanisms of capital in different markets.

Two afternoon, the market began to lower volatility, stock index finished lower. Control policy in real estate under the pressure, the market will digest pre-profit chips repeated shocks. Operation, wait for the tape direction is clear before making a decision, a strong short-term ability to grasp broader market may light weight units, follow the market hot, wet storage for short-term intervention band. Investors may focus on a performance support or support the industry boom of the stocks, there to look forward to benefit from future growth in industrial policy, such as carbon, property networking market, "hot" stock.

During the first half of 2010, the company reported operating income of 7.577 billion yuan, up 17.99 percent over the same period, operating profit of 105 million yuan, up 128.14 percent over the same period, net profit attributable to parent company, owner of 7,276.52 million increase of 125.66 percent over the same period.

Comments:

Steel main highlight, the output stable. Our main products are twisted steel, high speed wire rod, plate and billet. During the reporting period the company produced 391,500 tons of metallurgical coke, down 6.14%, into the furnace sinter 2.3542 million tons, down 2.26%, pig iron 1,781,600 tons, down 1.11%, billet 2.2308 million tons, up 3.62%, steel 2,146,200 tons (of which three steel commissioned by the controlling shareholder group in plate processing 507,200 tons), up 2.5%. Sales of 2,068,900 tons of steel during the reporting period (of which 470,600 tons sold in the board, sales of 1.772 billion yuan), the main business gross profit margin 3.86%, compared with 7.55 percentage points increase over the same period last year.

Since the fourth quarter of 2009, the company low-profit business. Notice shows that firm performance and steel market price movements associated with greater

Main business is below expectations: from January to June 2010, the company achieved operating income of 3.31 billion yuan, up 4.82%; to achieve the net profit attributable to parent company 414 million yuan, down 2.11% year on year, after deducting non-recurring gains and losses net profit of 214 million yuan, down 48.16% year on year. Company capital gains and losses are mainly held by Juli rigging (17.85,0.12,0.68%), changes in fair value of equity income generated 199 million yuan, accounting for 45.6% of operating profit. The first half year the company main business is mainly due to sharp drop in gross margins dropped drastically during the first half 2010 consolidated gross margin was 17.9% the company, fell sharply last year compared to 5.7 percentage points, which transformer gross margin 25.6% from the same period last year dropped to 22.0%.