半年度报告
于中华人民共和国注册成立的股份有限公司A 股股票代码 ：600016
2025
年半年度报告
202582915
20242025
101.36
C3
2025112025630
2025
CHINA MINSHENG BANKING CORP., LTD.
CMBC
10003186-10-5856097586-10-5856082486-10-58560720cmbc@ cmbc.com.cn86-9556886-400 66 95568
100031www.cmbc.com.cncmbc@ cmbc.com.cn
83701-0212-1640( www.cs.com.cn )
( www.cnstock.com )( www.stcn.com )A www.sse.com.cnH www.hkexnews.hk
A
H
183171712-1716
A 600016H 01988
1 360037199627
20071120
91110000100018988F
2025
1996
20251-6
2024
1-6
2023
1-6(%)
72,38467,1277.8371,539
49,20348,5821.2851,334
23,18118,54525.0020,20549,26043,68612.7646,748
20,65720,5710.4221,136
26,03920,55126.7022,21023,12423,441-1.3524,79122,79423,476-2.9124,747
21,38022,474-4.8723,777
21,50722,489-4.3723,656
-219,043-283,843108,631
0.45
0.434.650.46
0.45
0.434.650.46
0.46
0.444.550.46
0.46
0.444.550.46
-5.00-6.482.48(%)
0.55
0.60-0.050.64
7.14
7.040.107.88
7.18
7.050.137.83
28.54
30.64-2.1029.54
13.38
14.37-0.9915.15
1.30
1.260.041.41
1.39
1.380.011.48
2025
2025
20241231
20231231(%)
7,768,9217,814,969-0.597,674,9654,469,8744,450,4800.444,384,8772,727,2392,679,9211.772,617,3551,742,6351,770,559-1.581,767,522
95,81693,1292.8997,4447,066,6097,158,401-1.287,037,1644,311,0024,249,0951.464,283,0032,931,5992,946,810-0.523,068,931
1,377,5921,298,3536.101,206,58743,78243,782–43,782688,544642,8597.11624,602563,544547,8592.86529,602
12.87
12.512.8812.10(%)
1.48
1.470.011.48
145.06
141.943.12149.69
2.14
2.090.052.22
(%)
786,415752,9934.44755,416
563,800546,6893.13533,852
125,78895,81431.2896,036
96,827110,490-12.37125,528
5,933,5625,842,7161.555,750,072(%)
9.50
9.360.149.28(%)
11.62
11.000.6210.95(%)
13.25
12.890.3613.14(%)
9.04
8.400.648.31
1. =/
2. 9
2010
3. =/
4. =
5. =/
6.7.8.
9. =/
10. =/=/
2025202536,81335,57112,7428,63812,9278,580-117,455-101,588
20251-620241-620231-6
221413-14-50-10
-73-31-378-47-63-64-30-106
-7421203
-127-15121
3682
12023
2025
(%)
2025
20241231
20231231≥25
74.46
82.9566.63
≥25
71.41
80.7464.05
≥25
116.72
123.49157.07
≥100
155.16
161.99146.06
≥100
106.68
108.31106.91
≥4.125
7.58
7.187.43
≤10
1.56
2.423.44
≤50
8.73
10.1710.45
1.
2. =/
3. =/
(%)
2025
20241231
20231231
1.69
1.561.69
34.95
28.9329.74
171.38
86.8545.06
135.74
79.0246.63
20222
77,689.21
460.480.59%44,698.74193.94
0.44%57.54%0.59
56.00%1.85
70,666.09917.921.28%43,110.02619.071.46%61.01%1.65
31.96%1.40
723.84
52.577.83%
71,224.47579.321.39%1BP492.03
6.211.28%
231.8146.3625.00%96.85
0.400.41%
213.8010.944.87%
660.524.421.48%0.01
145.06%3.12
2025
E/?
12.192.80E2025
e
3,264.85286.819.63%
525.54
76.50
765.00e
e1.68Ei
6,667.5140.33
48.293,617.273.70%
1.52%2,416
4.0
245.5015.946.94%
27.822.359.23%
2025
AIAI AgentAI
+
6.0
99.8%
ICR
e152SaaS
12,449.443.18%419.97
4.13%7,78414.81%
(1)
29,191.08
141.180.48%26,100.651,467.875.96%(2)
14,949.72479.6712,017.3630.69
3,05255837,4406,942321
7.74
833.3
(3)
5,37236.62%57,00724.54%3,743.19
75%
98.44%2,007.01
14.18%
2025
+15,000
AIe+
2.412.49%
1,291.192984491,259.07
3,489.369.40%
e1,873.67204.7912.27%(4)
(1)
31,539.762,077.297.05%27,041.381,852.197.35%
85.74%9,680.441,020.7511.79%13,544.15784.756.15%
17,232.78274.83
1.57%4,499.02273.455,771.58
202.97
(2)
13,952.083.89%70,0747,97112.84%468.7423.025.16%
15.52%
2025
(MGM)
(3)
545.555.87%+
79.4334.97%
629.3853.55%330.31
74.43%
569.4410.581.89%
++
3,117.877.08%7.48
10.57%
139146411052,4161,2541,020142
202566
(4)
(1)
+
(2)
(3)
1.99
1.86185.54
2025
i+eSU
12.66
3.26%
(4)
(1)
2,369.3311.83%1,284.82
10.18%54.23%1,826.0514.81%
16.4822.62%
705.30
11.66%12192.06%
420.1823.48%
118.1674.25%
217.58
8.01%
(2)
3.27
331.8715.411.55
132.46
(1)
520084
50.9554.96%
1,769.07243.22
30.17293.54
2025
(2)
2008113
63.33%
24.8619.59
2,139.8815.31%(3)
201521142.07
BBB-
235.70200.8734.83
28.46
(4)
80420.103.18362.31
1.84254.961.93
(5)
202262450
46.37%20.78%
32.07%2.54
90.7887.405.3111,380.8412.05%(6)
859.90
(7)
20242025
2025
2025
213.8010.944.87%20251-620241-6(%)72,38467,1277.83
49,20348,5821.2823,18118,54525.0049,26043,68612.76
20,65720,5710.42
882-1.9326,03920,55126.70
109217.43
1,3531,573-13.99
23,12423,441-1.35
-330
22,79423,476-2.91
1,31876771.84
21,47622,709-5.43
21,38022,474-4.87
235-59.15
2025
723.8452.577.83%
6.21
46.36
20251-620241-6(%)(%)(%)
49,20367.9748,58272.371.28
113,980157.46127,963190.62-10.93
78,305108.1889,312133.04-12.32
27,30737.7228,39642.30-3.84
2,9884.133,4385.12-13.09
2,3893.303,0954.61-22.81
1,9292.662,2123.30-12.79
7501.047921.18-5.30
3120.437181.07-56.55
-64,777-89.49-79,381-118.25-18.40
23,18132.0318,54527.6325.00
9,68513.389,64514.370.41
13,49618.658,90013.2651.64
72,384100.0067,127100.007.83
492.036.211.28%1.39%
20251-620241-6(%)(%)4,462,07078,3053.544,409,84689,3124.072,702,37542,2873.162,650,67448,5313.68
1,759,69536,0184.131,759,17240,7814.661,887,88033,6913.601,946,60039,3834.07
2,574,19044,6143.492,463,24649,9294.081,996,35527,3072.761,918,91128,3962.98
257,2611,9291.51288,4402,2121.54156,7162,3893.07185,0433,0953.36
108,3347501.4083,6107921.90
107,7942,9885.59115,6713,4385.9833,9173121.8662,9947182.29
7,122,447113,9803.237,064,515127,9633.64
2025
20251-620241-6(%)(%)4,230,37339,0151.864,173,94146,4472.242,900,53526,5841.852,950,13632,7542.23
975,2503,0090.62951,7525,5421.17
1,925,28523,5752.471,998,38427,2122.74
1,329,83812,4311.891,223,80513,6932.25
400,751930.05315,3003400.22
929,08712,3382.68908,50513,3532.96989,19610,1232.06726,5289,3622.59835,3897,5291.821,121,88013,5482.43363,3154,4372.46440,0506,5262.98273,3232,5841.91132,1631,5422.3571,8571,0893.06101,2861,9563.886,763,45364,7771.936,695,84879,3812.3849,20348,582
1.30
1.26
1.39
1.38
20251-620251-6
/1,058-12,065-11,0071,146-2,235-1,089
-239-44-283-474-232-706234-276-42-234-216-450-331-75-4061,160-15,143-13,983628-8,060-7,4323,385-2,624761-3,460-2,559-6,019-1,138-951-2,0891,647-6051,042
-568-299-867494-15,098-14,604666-45621
1,139.80139.8310.93%(1)
783.05110.0712.32%53BP120.65(2)
273.0710.893.84%
2025
(3)
34.51
11.5425.06%
(4)
29.884.5013.09%(5)
19.292.8312.79%
647.77146.0418.40%(1)
390.1574.3216.00%38BP80.60(2)
112.02
58.4434.28%
(3)
101.237.618.13%(4)
44.3720.89
32.01%
231.8146.3625.00%
20251-620241-6(%)
9,6859,6450.41
13,4968,90051.64
23,18118,54525.00
96.850.400.41%
20251-620241-6(%)
11,22511,458-2.034,8325,217-7.38
2,0251,73916.451,6452,299-28.451,4331,01940.63
5461.83
63815.051,5401,813-15.069,6859,6450.41
134.9645.9651.64%
20251-620241-6(%)
9,23410,409
89.34
1,625-4,430
-1242,0322,774-26.75
27139.4813,4968,90051.64
2025
206.570.860.42%
20251-620241-6(%)
12,42912,2431.523,4603,3433.50
42411.324,2964,561-5.8120,65720,5710.42
260.3954.8826.70%
20251-620241-6(%)
23,45218,12329.40
1,5341,787-14.16
5125.47
-78
207-0.4826,03920,55126.70
13.185.5171.84%
77,689.21460.480.59%
202563020241231
(%)(%)
4,469,87457.544,450,48056.95
39,0060.5037,9600.4895,1151.2292,4041.184,413,76556.824,396,03656.25
2,348,86630.232,398,70230.69285,1833.67285,4493.65
342,6154.41381,1454.88104,6771.35112,3821.44
49,5720.6451,3160.66
224,2432.88189,9392.43
7,768,921100.007,814,969100.00
44,698.74193.940.44%
57.54%0.59
2025
23,373.88481.212.02%
30.09%0.43
202563020241231(%)(%)
1,379,57859.021,473,10361.751,338,34857.261,429,39559.92
30,0511.2832,2101.35
11,1790.4811,4980.48
375,13516.05377,45715.82173,8137.44176,2117.39
20,8420.8918,2540.76
152,7576.54161,8986.79
22,0700.9417,2360.72
5,6530.243,8580.16
582,67524.93534,94922.43574,85624.59527,43722.11
7,8190.347,5120.32
2,337,388100.002,385,509100.00
202563020241231
(%)(%)
1,344,71464.431,361,38763.82195,6429.37159,3957.47
263,37212.62304,64014.29
283,28913.58307,62114.42
2,087,017100.002,133,043100.00
(%)202512,5001.102026-1-60.1320227,7402.692027-6-160.9820246,7502.342027-1-50.7320216,3202.832026-9-101.1020235,9502.522028-5-250.7720215,8903.302026-3-30.6520205,8403.342025-7-140.3020234,9502.252026-7-60.8320244,5702.002027-4-120.5920254,1401.192026-2-50.05
64,6506.13
3,426.15
385.3010.11%4.41%0.47
202563020241231
4,657,56620,37420,1673,259,18126,56825,5302,954,6901,3621,0932,417,9381,844687
100,2232,35610,18174,9841,8397,856
2,3694021,94132–24,13231,44330,28334,073
2025
70,666.09917.921.28%
202563020241231(%)(%)
4,382,08762.014,332,68160.52
4,311,00261.014,249,09559.36
1,056,50614.951,321,83018.471,049,97314.86941,02513.15358,9915.08373,1015.21219,0523.10189,7642.657,066,609100.007,158,401100.00
43,110.02619.071.46%
68.00%31.96%34.93%
65.03%
202563020241231
(%)(%)
2,931,59968.002,946,81069.351,066,81624.751,051,32024.74
1,864,78343.251,895,49044.61
1,377,59231.961,298,35330.56
438,83310.18396,9349.34
938,75921.78901,41921.22
1,8110.043,9320.09
4,311,002100.004,249,095100.00
10,565.062,653.2420.07%
10,499.731,089.4811.58%
106.68%155.16%
1.93%
2025
7,023.12457.446.97%6,885.44456.857.11%
2025
20241231(%)
43,78243,782–
125,00095,00031.5820,00020,000–
105,00075,00040.0058,08758,087–5,7057,192-20.6861,88861,888–
99,42999,2790.15
294,653277,6316.13688,544642,8597.1113,76813,7090.43
702,312656,5686.97
2025
20241231(%)
563,174518,6628.58
525,419519,2131.20
135,316135,2170.07
177,443141,07625.78
62,83056,73610.74
14,89514,8520.29
11315.04
660.524.421.48%
0.011,218.3014.602.72%
0.02
202563020241231
(%)(%)(%)
4,403,82298.524,384,87098.530.43
4,281,99295.804,264,50095.830.41
121,8302.72120,3702.701.2166,0521.4865,6101.470.6714,8750.3320,0900.45-25.96
14,2800.3212,0700.2718.31
36,8970.8333,4500.7510.30
4,469,874100.004,450,480100.000.44
27,272.39473.18
61.01%0.7917,426.35279.24
38.99%0.79
2025
331.236.65
1.21%0.05329.2911.07
1.89%0.09
202563020241231(%)(%)(%)(%)
2,727,23961.0133,1231.212,679,92160.2233,7881.26119,1402.67––219,0094.92––1,742,63538.9932,9291.891,770,55939.7831,8221.80
620,89813.899,7171.56643,01414.459,9091.54
579,55512.975,5520.96559,21812.565,3830.96
449,90210.0716,5423.68477,24710.7215,6643.28
92,2802.061,1181.2191,0802.058660.954,469,874100.0066,0521.484,450,480100.0065,6101.47
5,884.27413.574,858.63
226.013,326.487.91
238.0571.87%
39.16
5.594.39
51.12
202563020241231(%)(%)(%)(%)
588,42713.165,7840.98547,07012.291,8680.34
485,86310.876,4351.32508,46411.425,8761.16
332,6487.4411,5863.48333,4397.4916,6985.01
288,5056.454,7061.63295,8996.654,2671.44
191,7454.292150.11171,0653.852050.12
175,2893.923570.20165,2563.716900.42
148,8863.33110.01136,1163.063–
137,8063.084210.31173,0593.893770.22
128,5172.889290.72125,3362.821,1080.88
68,2781.531,6722.4564,3451.451,6812.61
56,7111.274320.7645,8951.032840.62
43,8560.982990.6839,1530.881540.39
26,2120.59330.1322,8370.512941.29
54,4961.222430.4551,9871.172830.542,727,23961.0133,1231.212,679,92160.2233,7881.261,742,63538.9932,9291.891,770,55939.7831,8221.80
4,469,874100.0066,0521.484,450,480100.0065,6101.47
11,853.707,244.786,906.9226.52%16.21%15.45%
295.92138.23
178.77
131.11112.2263.90%
8.827.890.05
0.39
2025
202563020241231(%)(%)(%)(%)
457,94810.2517,8773.90487,00010.9417,0883.511,185,37026.5213,1111.111,155,77825.9712,2291.06
724,47816.217,3851.02710,65515.976,8220.96690,69215.457,3331.06693,59815.589,0341.3092,6822.071,6441.7791,7802.061,3911.52504,47911.295,0481.00510,35511.475,7051.12685,31115.3311,2221.64680,00315.2810,8781.60128,9142.882,4321.89121,3112.732,4632.03
4,469,874100.0066,0521.484,450,480100.0065,6101.47
21,402.331,204.06
47.88%14,175.58662.8931.71%9,120.83735.1120.41%0.24
0.72
202563020241231(%)(%)(%)(%)
1,417,55831.7121,8551.541,351,26930.3620,3031.50912,08320.4110,1851.12838,57218.849,2461.102,140,23347.8834,0121.592,260,63950.8036,0611.601,759,83839.3729,4451.671,759,33739.5333,6381.91
380,3958.514,5671.20501,30211.272,4230.484,469,874100.0066,0521.484,450,480100.0065,6101.47
686.701.54%
(%)(%)A12,2350.271.56B8,0990.181.03C7,8010.180.99D7,6870.170.98E6,8000.150.86F5,7740.130.73G5,5610.130.71H5,4220.120.69I4,6660.110.59J4,6250.100.59
68,6701.548.73
272.268.25
0.61%0.02980.6751.08
2.19%0.10
202563020241231
(%)(%)27,2260.6126,4010.59
8,5450.197,7210.1798,0672.1992,9592.09
25,9920.5827,5660.62 3138,3270.8629,7910.67 1326,2370.5829,9280.67 37,5110.175,6740.13
1. 2. 1
2025
202563020241231
4,8784,9411,5611,856
3,2153,003
202563020241231
93,12997,444
23,45239,006-23,834-51,1833,9058,890-836-1,02895,81693,129
202210
5%6%8%2.5%
0%0.25%
7.75%8.75%10.75%
9.50%11.62%
13.25%0.140.62
0.36
202563020241231
563,800529,455546,689512,837
689,588654,455642,503607,837786,415747,318752,993714,783570,431549,612554,940534,504-6,631-20,157-8,251-21,667125,788125,00095,81495,000––––96,82792,863110,490106,946––––5,933,5625,660,1765,842,7165,568,1015,600,8915,349,6175,514,2425,265,735
76,91766,10172,72057,908
255,754244,458255,754244,458(%)
9.509.35
9.369.21
(%)
11.6211.56
11.0010.92
(%)
13.2513.20
12.8912.84
2025
7.58%202530.34
2025
2025
20241231
2024
(%)
7.58
7.247.187.14
689,588650,371642,503632,9389,094,5898,981,7318,943,5558,864,328
( www.cmbc.com.cn )2025
155.16%55.16
2025
20241231
(%)
155.16
161.99
1,109,6761,086,316
715,192670,628
106.68%6.68
2025
2025
20241231
(%)
106.68
105.22108.31
4,533,2084,446,2564,558,8234,249,1884,225,6894,209,212
2025
202563020251-65,090,35435,48514,5601,784,72028,5846,485835,6978,3151,749
7,710,77172,38422,794
2024123120241-6
5,144,31434,60518,0241,745,58427,2836,677866,9225,239-1,2257,756,82067,12723,476
1. 2. 2024
202563020251-6
3,306,49027,4638,9311,239,07012,1135,061758,1747,5703,0791,383,8996,551-2,034
135,3741,2301,411578,2865,1131,603694,8235,8272,374454,9866,5172,369-840,331––7,710,77172,38422,794
2024123120241-6
3,416,36222,3834,6411,254,04111,0322,755819,4637,4413,9701,420,8148,0294,123151,8421,180725573,7125,6352,887688,1444,9412,128437,7746,4862,247-1,005,332––7,756,82067,12723,476
2025
9(IFRS9)22232439
SPPI
-2,190.43648.00
1,075.17731.581,251.901.85
20251-620241-6
-219,043-283,84364,800
-197,946-280,89382,947 42,15014,60827,542 -39,249-55,96616,717107,51734,35973,1581,559,6211,101,347458,274
-1,491,539-1,099,682391,857125,190125,005185715,531780,54665,015
30,000–30,000
-615,507-606,3789,129
–-40,00040,000
2025
20241231(%)71,54031,136129.77
34,80876,958-54.77
68,64443,22858.80
125,00095,00031.58
2025
1-6
20241-6(%)9,23410,409
89.34
1,625-4,430
-124
27139.48
109217.43
44-84.09
93,644.441,31876771.84
235-59.15
2025
1.39%1BP
231.81
46.3625.00%32.03%4.40
96.850.400.41%4.35
40.63%
134.96
45.96
1.51%2024
0.02
351.56320.77
42.0773.0355.48149.74
0.4530.79
44.41
4 =/×
3,906.5345.111.14%3,326.48
7.9185.15%115.8651.12
3.48%1.53
477.1357.7710.80%
9.50%11.62%13.25%
2025
2.5%
AI
2025
2025
2025
?????\t???
u?? \tH^\D??
202563020241231(%)(%)
–––––43,782,418,502100.00–43,782,418,502100.00 135,462,123,21381.00–35,462,123,21381.00 2––––– 38,320,295,28919.00–8,320,295,28919.00 4–––––
43,782,418,502100.00–43,782,418,502100.00
2025??a{
u?? \tH^\D??
299,397A282,460H16,937
(%)
//
18.938,287,619,8181,032,632H
10.304,508,984,567–A
6.492,843,300,122–A
4.491,966,999,113–A944,000,000
4.181,828,327,362–A
3.591,573,675,801-314,854,900A1,455,582,321
3.151,379,679,587–A1,379,678,400
3.021,324,284,453–A
2.921,280,117,123–A1,272,649,488
117,028,7111,163,088,412
2.841,241,360,874142,707,282A
1.2.
1010
1. 313,808,3670.72%
2. 5%
10102025/10
?????\t???
u?? \tH^\D??
1. AH
2.3.
H
A4.
1,455,582,321
3362025630
(%)(%)
A7,352,284,689120.7316.79H457,930,20015.501.05A7,352,284,689120.7316.79H457,930,20015.501.05A1,828,327,36225.164.18A1,828,327,36225.164.18A1,930,715,189355.444.41A1,930,715,189255.444.41A1,930,715,189355.444.41A1,930,715,189455.444.41A1,966,999,1135.554.49Alpha Frontier LimitedH713,501,653678.581.63
H713,501,653678.581.63
H713,501,653678.581.63BlackRock,Inc.H460,457,60385.531.05
H82,587,50080.990.19
5 202578
2025??a{
u?? \tH^\D??
1. 99.98%7,352,284,689A457,930,200H 7,352,284,689A457,930,200H2.
102,387,827A1,828,327,362A
1,930,715,189A3.102,387,827A1,828,327,362A
1,930,715,189A
4. 1,930,715,189
A
5. 1,930,715,189A
6. Alpha Frontier Limited
Alpha Frontier Limited713,501,653H97.86%
Alpha Frontier Limited713,501,653H
7. Alpha Frontier Limited713,501,653H
8. BlackRock,Inc.460,457,603H82,587,500H
41.69%
10.30%
17.84%
?????\t???
u?? \tH^\D??
15%
(1) 20106233,079,000
91110000556828452N
(2) 2002112557,655.56
91540091744936899C
20111117103,431.37259154009158575152X0
200696271,802.179191510100792171384J
PVC
2025??a{
u?? \tH^\D??
220181
(1) 199971224,540.0640
913101041346255243
Alpha Frontier LimitedLiberal Rise Limited
1,379,678,4003.15%50%Alpha Frontier Limited20166241.7519
Shi JingLiberal Rise LimitedAlpha Frontier Limited275,000,0000.63%38.54%Liberal Rise Limited2018195Abhaya Limited
Shi JingShi JingAlphaFrontier LimitedLiberal Rise Limited
(2) 2007523257,416.25
91500000660887401L
1,455,582,321
3.32%50%
(3) 1984111051100000500010993L
?????\t???
u?? \tH^\D??
(4) 19955213,30091310000612260305J晞晞晞
133,200,0000.30%50%
201412261,00091540195321324233N
80,500,0000.18%50%
20165330,00091540195MA6T1A2K32
52,700,0000.12%50%
2025??a{
u?? \tH^\D??
199504131,000,00091440300192329539C
944,000,0002.16%47.99%
200311281
A118,433,6181,311,632,512
50%
?????\t???
u?? \tH^\D??
(%)–7.0014,000,000–?6–6.0012,000,000–005LCT001–5.0010,000,000–
–5.0010,000,000–022LCT001–5.0010,000,000–
?H140010638
–5.0010,000,000–2–4.699,380,000–23–4.168,310,000–11–3.677,332,000–24–3.537,050,000–
1.2.
23243.
2025??a{
u?? \tH^\D??
2025
65854257950
4120672121
19622020.7-2027500,000500,00019512009.6-2027––19702024.8-2027––
2024.4-202719622017.3-2027––19692017.3-2027––19732021.6-2027––19772025.1-2027––19632025.7-2027––19642021.3-2027––19652023.8-2027––19682023.8-2027––19552023.10-2027––19592024.2-2027––19732024.3-2027––19742024.8-2027350,000350,000
2024.5-202719622024.6-2027––19652024.6-2027––19552024.6-2027––19742024.6-2027––19712024.6-2027––19692024.12-2027––19672017.1-2027350,000350,000
2024.2-202719702017.1-2027350,000350,00019722024.5-2027––19772025.8-2027––19672021.11-2027––19672024.5-2027––
1. 2. 20257
2025
1 202512 202533 2025620244 2025712025722025720258
13362025630
╱
(%)(%)A200,0000.00060.0005H300,0000.00360.0007A150,0000.00040.0003H200,0000.00240.0005A1,930,715,18915.444.41H370,789,50024.460.85A1,379,679,58733.893.15H713,501,65348.581.63
1. 1,930,715,189A102,387,827A1,828,327,362
A
102,387,827A1,828,327,362A
1,930,715,189A
2. 370,789,500H302,789,500H68,000,000H302,789,500H68,000,000H
370,789,500H
3. 1,379,679,587A
97.86%1,379,679,587A
4. 713,501,653HAlpha Frontier LimitedAlpha Frontier
Limited3Alpha FrontierLimited713,501,653H5.
1,966,999,113A199,310,000H
2025
2 2025630
/
(%)2,000,00013.64
1. 2,000,000
3. 2025630
/
(%)24,000,000110
1. 24,000,000
97.86%
4. 2025630
/
(%)2,500,00012.831,500,00021.7
1. 2,500,000
97.86%
2. 1,500,000
/XV78C3
/C3
62,04459,2792,7656,176
53,10325,50343.0%33,776
57.0%13,26322.4%43,72073.8%2,2963.9%1,4143212761502671,751
2025
412105
112,5203,290,09621734,267954,05710
B1023-12982,777510,2341001092,794340,03568601,968258,346841,58495,0443961101,549131,445426
B31232,040135,3871974484258,73652541693,423388,745399
902,038269,39398961,354135,0749951,41396,41716
4494458,8702821232,032145,508
12376
3871963,7628151111,608169,968535
4997890,36543
6794483,53111800
4265641,795110
2025
341,112120,668
5294177,0301902560871,95413053138,226501061,540134,052CBD
391,04276,7381892557722,031500741,00993,936
1-4
6-224366664,6175453152335,76212
1-94465566,282136-5
C1-3330-31362646938,815
20C4653125,44465
1294215,5638
3701-0212-16403854353,28833
1522311,22277
516013,451
112.1F111112184,90510040411737632,51411
1-6
1228022,0781231125123,712
71559,018102
1-41019316,2921061292,36423rd Fl 20 Fenchurch Street,London,UK––-1,193,2012,41959,2797,473,569
1.
2. 7,7783.
2025
C1
C1
MA+
3,0002,2707,297.181,900526.59
106.24
?ME292025
6.51053.1
505.5
21,120315,7916.02
1910s-2020s9.52024
2025
ESGESGESG
ESGESG2025ESG2024ESGMSCIESGAAA
20253292025
2025
3,05255837,4406,9423.89%12.84%
eAIAI
201830%2024202484.06
30.04%2025
202582025
2025
2025
2024
2025
97500(IR Dedicated Company)
20242025
2024+25
1.3
5%
2025
202563025258.5320231
(CBD)Z4
G
2016201621
20242025
2025
981100
109.3
2025
10%15%50%20256305%5%4,508,984,56710.30%2,843,300,1226.49%202412314,508,984,56710.30%
2,843,300,1226.49%
2025
5%20235242023692022
31029022023525
202373120233.507.0020231120231231202412.002024112024123120251120256810.00202381
202532820256262024
60031029022025329
2025530
202569202512311.5202611202612312.52027112027681.52025531
5,400.00
6.99
86.20
5.30
4,482.05
1.94
/
1 21.612 100.663 35.864 27.94
2025
20241231
|4,62518,201||3,749–||3,4073,467||3,3353,335|3,3073,308堃|3,0103,040|2,5422,542||1,6851,685|1,6491,762||1,2721,260||
||
||
||
|
2025
2025
20241231
||
||
|
|
|
||
||
|
||
–||
(1)
–
(1)
–
(2)|
(3)||6,800
(3)|4,666
(3)||3,972
||–3,757
(3)|3,046
(3)|900
(3)||603
–
–
–
|–
–
2025
20241231
–
(3)15
(3)3
(3)2
||1,1001,21638,29473,056(%)
0.87
1.66
1.38%-6.30%
2.30%-8.95%
(1) 2025
(2) 1
(3) 2025630
2025
2024
20242024
AH20240.06227.14
20242024
0.19284.06A20257H202582025626202574
2025
202420252025
AH101.362025630437.82202559.54
198.8029.95%
2025829
2025
2025829
202532025
2025
1. 2025
2. 2025
20252025
2025829
2025
20252025
1. 2025
2. 2025
3. 2025
2025
2025829
?????\t???
?{
2025
2504443
20256302025630
2101
2025829
2025630
2025202420252024
1231
1231
285,183285,449282,100282,062
144,879117,731119,12592,461
71,54031,13671,54031,136
162,928186,456184,869212,078
24,13230,28324,05130,197
34,80876,95834,26673,035
4,413,7654,396,0364,397,3294,379,490
2,348,8662,398,7022,282,3512,335,294
375,135377,457318,762324,569
1,385,5941,480,7981,385,9181,481,090
588,137540,447577,671529,635
104,677112,382––
––13,24613,244
49,57251,31620,01420,799
6,9376,7674,5714,293
7,9078,0297,3177,317
9,0429,5838,6869,282
58,15058,14955,14255,166
46,53545,99224,10425,159
7,768,9217,814,9697,528,7117,571,013
2025
20256302025202420252024
1231
1231
250,488261,108250,318260,767
729,616990,841742,5801,001,900
74,43882,86562,75572,478
68,64443,22837,1059,564
108,503111,993––
31,44334,07331,44334,059
252,452248,124237,697233,949
4,382,0874,332,6814,345,6424,295,830
8,6149,0788,2528,771
10,14713,9939,59313,298
8,3568,1817,8197,486
1,6131,7301,6131,729
1,049,973941,0251,041,881932,894
––
89,99679,23877,40168,784
7,066,6097,158,4016,854,0996,941,509
2025630
2025202420252024
1231
1231
43,78243,78243,78243,782125,00095,000125,00095,000 2920,00020,00020,00020,000 30105,00075,000105,00075,000
58,08758,08757,49657,498
5,7057,1925,2006,665
61,88861,88861,88861,888
99,42999,27995,00995,009
294,653277,631286,237269,662
688,544642,859674,612629,504
13,76813,709––702,312656,568674,612629,504
7,768,9217,814,9697,528,7117,571,013
202582998287
2025
2025630
2025202420252024 72,38467,12767,76162,320
49,20348,58248,10547,709
113,980127,963110,325123,783
(64,777)(79,381)(62,220)(76,074)
9,6859,6458,6208,773
11,22511,45810,07510,483
(1,540)(1,813)(1,455)(1,710)
9,23410,4097,9438,959
2,7721,0242,7721,024
1,625(4,430)2,562(3,351)
(124)
(134)
2,0322,774
(49,260)(43,686)(45,749)(40,507)
(865)(882)(827)(821)
(20,657)(20,571)(19,548)(19,422)
(26,039)(20,551)(25,341)(19,962)
(346)(109)(3)(261)
(1,353)(1,573)(30)(41)
23,12423,44122,01221,813
(337)(9)(267)(7)
22,79423,47621,75021,847
(1,318)(767)(971)(384)
21,47622,70920,77921,463
21,38022,47420,77921,463
2025630
2025202420252024
(1,496)2,036(1,455)1,807(1,478)1,968(1,455)1,807
(1,860)1,821(1,816)1,672
(36)
(63)
(25)(11)
(18)
19,98024,74519,32423,270
19,90224,44219,32423,270
0.45
0.43
2025
2025630
2025202420252024
–2,996–4,205
4,420–3,833–
18,70538,21917,77136,532
42,15014,60838,76913,357
–––20,871
100,342112,97195,746108,801
46,36551,60937,35127,468
211,982220,403193,470211,234
(39,249)(55,966)(39,239)(53,596)
(197,946)(280,893)(195,662)(295,885)
(8,307)–(9,613)–
(8,529)(2,185)(12,387)(3,903)
–(14,745)–(16,982)
(20,553)(11,087)(15,020)–
(11,354)(31,317)(11,183)(31,394)
(69,745)(68,052)(66,858)(64,561)
(16,568)(16,970)(15,750)(16,162)
(5,815)(7,274)(5,269)(7,546)
(52,959)(15,757)(46,180)(8,588)
(431,025)(504,246)(417,161)(498,617)
(219,043)(283,843)(223,691)(287,383)
2025630
2025202420252024
1,559,6211,101,3471,465,0571,052,474
38,33335,13138,31334,793
2,7501,922
1,600,7041,138,4001,503,6121,087,294
(1,491,539)(1,099,682)(1,399,498)(1,054,339)
(6)–(6)–
(1,642)(4,359)(1,173)(1,851)
(1,493,187)(1,104,041)(1,400,677)(1,056,190) 107,51734,359102,93531,104
2025
2025630
2025202420252024
30,000–30,000–
715,531780,546715,650778,152
745,531780,546745,650778,152
(615,507)(606,378)(615,255)(606,137)
(1,731)(4,013)(1,673)(3,914)
–(6)––
–(40,000)–(40,000)
(1,500)(3,440)(1,500)(3,440)
(1,603)(1,704)(1,572)(1,644)
(620,341)(655,541)(620,000)(655,135)
125,190125,005125,650123,017
/
13,776(124,298)5,046(133,119) 49184,990237,336174,635230,046
198,766113,038179,68196,927
2025630
2024123143,78220,00075,00058,0877,19261,88899,279277,631642,85913,709656,568
–––––––21,38021,3809621,476 47––––(1,478)–––(1,478)(18)(1,496)
––––(1,478)––21,38019,9027819,980
1.
––30,000(2)––––29,998–29,998
1.33––––––149(149)––– 2.35–––––––(2,714)(2,714)(14)(2,728) 3.35–––––––(1,500)(1,500)–(1,500)
1.
––––(9)––9–––
1.–––2––1(4)(1)(5)(6)
202563043,78220,000105,00058,0875,70561,88899,429294,653688,54413,768702,312
2025
2025630
2023123143,78220,00075,00058,1112,02258,80595,237271,645624,60213,199637,801
–––––––22,47422,47423522,70947––––1,968–––1,968682,036
––––1,968––22,47424,44230324,7451.
––(40,000)–––––(40,000)–(40,000)
1.33––––––154(154)–––
2.35–––––––(9,457)(9,457)(1)(9,458)
3.35–––––––(3,440)(3,440)–(3,440)1.
––––2––(2)–––
1.–––––––(6)(6)–(6)202463043,78220,00035,00058,1113,99258,80595,391281,060596,14113,501609,642
2025630
2023123143,78220,00075,00058,1112,02258,80595,237271,645624,60213,199637,801
–––––––32,29632,29642632,72247––––5,165–––5,165865,251
––––5,165––32,29637,46151237,973
1.33–––––3,083–(3,083)–––
2.33––––––4,042(4,042)–––
3.35–––––––(16,032)(16,032)(14)(16,046)
4.35–––––––(3,440)(3,440)–(3,440)1.
––––5––(5)–––
1.–––––––(2)(2)(1)(3)
2.–––(15)––––(15)–(15)3.
–––(5)–––30029513308
4.–––(4)–––(6)(10)–(10)
2024123143,78220,00075,00058,0877,19261,88899,279277,631642,85913,709656,568
2025
2025630
2024123143,78220,00075,00057,4986,66561,88895,009269,662629,504
–––––––20,77920,779 47––––(1,455)–––(1,455)
––––(1,455)––20,77919,324
1.––30,000(2)––––29,998
1.35–––––––(2,714)(2,714)
2.35–––––––(1,500)(1,500)
1.––––(10)––10–
202563043,78220,000105,00057,4965,20061,88895,009286,237674,612
2025630
2023123143,78220,00075,00057,8421,69958,80591,290264,809613,227
–––––––21,46321,463 47––––1,807–––1,807
––––1,807––21,46323,270
1.––(40,000)–––––(40,000)
1.35–––––––(9,457)(9,457) 2.35–––––––(3,440)(3,440)
202463043,78220,00035,00057,8423,50658,80591,290273,375583,600
2025
2025630
2023123143,78220,00075,00057,8421,69958,80591,290264,809613,227
–––––––30,83030,830 47––––4,963–––4,963 ––––4,963––30,83035,793
1.33–––––3,083–(3,083)– 2.33––––––3,719(3,719)– 3.35–––––––(16,032)(16,032) 4.35–––––––(3,440)(3,440)
1.––––3––(3)–
1.–––(340)–––300(40) 2.––––––––– 3.–––(4)––––(4)2024123143,78220,00075,00057,4986,66561,88895,009269,662629,504
202511630
1996272023
B0009H11100000191110000100018988FAH
60001601988
20256304333294
2006215
202315
2024
3220256302025630
2025
202511630
2024
1.1
2025
202412313,3023,302
3,4943,494
5,0005,000
202511630
2025
20241231
13,43413,428
1.1
2025
202511630
1.2
/
50.9554.96%54.96%
42.07100.00%100.00%
363.33%63.33%50100.00%100.00%(i)5,50036.36%36.36%
1.8964.68%64.68%(i)1.535.00%35.00%(ii)6,15748.73%51.27%(i)(iii)5,00055.00%55.00%(iv)1.9399.06%99.06%
2.1181.41%81.41%8,60051.00%51.00%5,00051.00%51.00%5,24051.00%51.00%
202511630
/
251.00%51.00%7,00051.00%51.00%
151.00%51.00%
1.2857.99%57.99%8,50051.00%51.00%
1.3551.00%51.00%4,00051.00%51.00%5,00051.00%51.00%3,00051.00%51.00%7,50080.40%80.40%1,50051.00%51.00%4,16051.00%51.00%6,40051.00%51.00%5,30051.00%51.00%
1.2
2025
202511630
/
6,00051.00%51.00%4,477.251.00%51.00%
5,20051.00%51.00%
7,70051.00%51.00%
5,66086.11%86.11%
(i)(ii)(iii) 2502025630
55.00%2024123150.00%
(iv) 4002025630
99.06%2024123198.30%
1.2
202511630
2025
20241231
2025
20241231
4,9795,2604,8475,105
224,800241,643223,003239,791
54,38837,56153,23536,182
280,102280,068277,152276,837
285,183285,449282,100282,062
20256305.5%20241231
6.0%4.0%202412314.0%
2025
202511630
2025
20241231
2025
20241231
105,94582,97384,84061,292
10,7977,62410,7977,624
116,74290,59795,63768,916
26,46125,76622,30222,657
1,5741,2601,165
28,03527,02623,46723,528
(8)(2)(1)(1)
144,879117,731119,12592,461
20256302024
202511630
2025
20241231
2025
20241231
5,534
5,534
127,648122,702142,648141,440
128,288128,236143,288146,974
31,41455,73231,41455,732
4,4653,50611,31710,368
35,87959,23842,73166,100
(1,649)(1,485)(1,649)(1,485)
162,928186,456184,869212,078
2025
202511630
3.1
2025630202511
(292)–(1,193)(1,485)
(164)––(164)
2025630
(456)–(1,193)(1,649)
2024202411(537)–(976)(1,513)
/250–(217)33
(5)––(5)20241231(292)–(1,193)(1,485)
202511630
4.1
202563020241231
4,657,56620,374(20,167)3,259,18126,568(25,530)2,954,6901,362(1,093)2,417,9381,844(687)100,2232,356(10,181)74,9841,839(7,856)2,36940(2)1,94132–
24,132(31,443)30,283(34,073)
202563020241231
4,657,48520,344(20,167)3,259,10026,568(25,516)2,952,7791,311(1,093)2,415,3441,758(687)100,2232,356(10,181)74,9841,839(7,856)
2,36940(2)1,94132–
24,051(31,443)30,197(34,059)
2025
202511630
4.2
202563020241231
(1)30,43382(121)17,51724(235) (2)56,213116(352)59,147379(127)
198(473)403(362)
(1)
20256302024630(2)
20256302024630
202511630
2025
20241231
2025
2024123134,38876,53834,25873,027
––
34,82376,97334,25873,027
(46)(47)(1)(2)
34,80876,95834,26673,035
20256302024
2025
202511630
2025
20241231
2025
20241231
2,583,5902,447,4122,585,5562,449,778
(1)620,898643,014606,048627,847
579,555559,218577,158556,861
449,902477,247449,902477,247
92,28091,08090,17088,806
1,742,6351,770,5591,723,2781,750,761
(95,115)(92,404)(94,110)(91,465)
4,231,1104,125,5674,214,7244,109,074
24,50913,50024,50913,500
119,140219,009119,140219,009
143,649232,509143,649232,509
39,00637,96038,95637,907
4,413,7654,396,0364,397,3294,379,490
(1)
202511630
6.1
202563020241231
(%)(%)1,417,55831.711,351,26930.36912,08320.41838,57218.84
1,759,83839.371,759,33739.53
380,3958.51501,30211.27
4,469,874100.004,450,480100.00
202563020241231
(%)(%)1,422,16931.941,356,08530.59906,85120.37833,61718.81
1,743,22339.151,742,22239.30
380,2408.54501,12411.30
4,452,483100.004,433,048100.00
2025
202511630
6.2
2025630
1133
15,17711,1867,9151,93036,2087507,1455,1862,18015,261
8,19114,70411,8232,90237,620
1,8745,2921,3134998,978
25,99238,32726,2377,51198,067
0.580.860.580.172.19
20241231
113311,59610,8406,6521,97131,0593,2304,9225,1091,04314,304 10,02112,81517,4782,15642,470 2,7191,2146895045,126
27,56629,79129,9285,67492,959
0.620.670.670.132.09
202511630
6.2
2025630
113315,15011,1507,9031,92736,1307067,0765,1672,17515,124
8,02214,56311,7192,88837,192
1,8745,2921,3134998,978
25,75238,08126,1027,48997,424
0.580.860.580.172.19
20241231
113311,57410,8086,6451,96930,9963,1894,8795,0981,03914,205 9,88512,67017,4292,14842,132 2,7191,2146895045,126
27,36729,57129,8615,66092,459
0.620.670.670.132.09
2025
202511630
6.3
(1)
2025630202511(26,369)(23,025)(43,010)(92,404)
(1,775)1,485290–
486(581)95–
1363,380(3,516)–/1,917(5,791)(19,650)(23,524)––23,83423,834––(3,857)(3,857)
(6)(3)845836
2025630(25,611)(24,535)(44,969)(95,115)
2024202411(26,033)(25,422)(45,338)(96,793) (2,620)2,334286– 639(829)190– 3434,071(4,414)–
/1,308(3,177)(37,109)(38,978)
––51,18351,183––(8,844)(8,844)
(6)(2)1,0361,028
20241231(26,369)(23,025)(43,010)(92,404)
202511630
6.3
(1)
2025630202511(25,839)(22,800)(42,826)(91,465)
(1,774)1,484290–
486(579)93–
1363,378(3,514)–/1,878(5,759)(19,536)(23,417)––23,70323,703––(3,825)(3,825)
(6)(3)903894
2025630(25,119)(24,279)(44,712)(94,110)
2024202411(25,448)(25,247)(45,132)(95,827) (2,622)2,333289– 638(827)189– 3414,070(4,411)–
/1,258(3,127)(36,920)(38,789)
––50,92050,920––(8,798)(8,798)
(6)(2)1,0371,029
20241231(25,839)(22,800)(42,826)(91,465)
2025
202511630
6.3
(2)
2025630202511
(274)(1)(450)(725)/30(6)4872––(48)(48)
2025630
(244)(7)(450)(701)
2024202411(199)(2)(450)(651)
/(75)146(28)
––(46)(46)20241231(274)(1)(450)(725)
202511630
2025
20241231
2025
20241231
7.1
375,135377,457318,762324,569
7.2
1,385,5941,480,7981,385,9181,481,090
7.3
588,137540,447577,671529,635
2,348,8662,398,7022,282,3512,335,294
7.1
2025
20241231
2025
20241231
42,88614,78230,7931,836
84,19051,78932,6332,555
11,60449,4287,35144,698
30,40132,84111,86117,536
169,081148,84082,63866,625
1,655
1,5962,6762,314––
172,243152,80983,05968,221
2025
202511630
7.1
2025
20241231
2025
20241231
3,40816,6931,38415,043
1,32410,6781,01810,43921,58415,58117,82312,800(1)150,081159,584177,391187,634(2)20,84218,25432,53026,842
5,6533,8585,5573,590
202,892224,648235,703256,348
375,135377,457318,762324,569
170,538175,67886,22593,369
3,6225,6423,5895,375204,597201,779232,537231,200
375,135377,457318,762324,569
(1) 202563020241231
(2) 2025630202412312.7
202511630
7.2
2025
20241231
2025
20241231
1,100,5411,155,4641,100,5401,155,464
63,16273,79863,16273,798
58,09165,45260,05667,309
116,554134,681116,083134,370
1,338,3481,429,3951,339,8411,430,941(1)30,05132,21028,38730,4478,5228,5258,5228,5252,6572,9732,6572,973
16,34819,14316,37219,180
(10,332)(11,448)(9,861)(10,976)
1,385,5941,480,7981,385,9181,481,090
1,319,1591,411,1781,321,1591,412,725
8,0238,6328,0238,206
60,41961,92558,24860,161
16,34819,14316,37219,180
(10,332)(11,448)(9,861)(10,976)
1,385,5941,480,7981,385,9181,481,090
(1) 2025630202412312.7
2025
202511630
7.2
(2)
2025630202511(1,467)(401)(9,580)(11,448)
–(126)126–
39–(39)–/29669(1,899)(1,534)
––2,3812,381––(137)(137)
(1)–407406
2025630(1,133)(458)(8,741)(10,332)
2024202411(2,016)(340)(7,854)(10,210) 53(330)277– 10557(567)–
/514(288)(4,691)(4,465)
––2,6652,665––(201)(201)
(28)–791763
20241231(1,467)(401)(9,580)(11,448)
202511630
7.2
(2)
2025630202511(1,468)(401)(9,107)(10,976)
–(126)126–
39–(39)–/29869(1,901)(1,534)––2,3812,381––(137)(137)
(2)–407405
2025630(1,133)(458)(8,270)(9,861)
2024202411(2,013)(340)(7,407)(9,760) 53(330)277– 10557(567)–
/500(288)(4,665)(4,453)
––2,6652,665––(201)(201)
(18)–791773
20241231(1,468)(401)(9,107)(10,976)
2025
202511630
7.3
2025
20241231
2025
20241231
201,287191,141197,002186,688
48,29033,80847,65733,221
190,269173,067188,941171,605
135,010129,421133,097127,108
574,856527,437566,697518,622
7,8197,5125,7805,515
5,4625,4985,1945,498
588,137540,447577,671529,635
536,292515,730531,731506,344
19,60623,71319,59521,908
46,38319,21940,74617,793
5,4625,4985,1945,498
588,137540,447577,671529,635
20256300.2520246300.222025630
2024630
202511630
7.3
(1)
2025
20241231
2025
20241231
579,951530,931570,740520,554
2,0041,1513,566
580,318532,935571,891524,120
4,2884,2802,1662,181
3,5313,2323,6143,334
7,8197,5125,7805,515
588,137540,447577,671529,635
2025
202511630
7.3
(2)
2025630
202511
(892)(11)(1,546)(2,449)/16(11)(312)(307)––121121
(70)––(70)
2025630
(946)(22)(1,737)(2,705)
2024202411(777)(66)(1,333)(2,176) 3(3)–– –56(56)–
/(219)2(157)(374)
––––101––101
20241231(892)(11)(1,546)(2,449)
202511630
7.3
(2)
2025630202511
(866)(11)(773)(1,650)/8(11)(259)(262)––121121
(62)––(62)
2025630
(920)(22)(911)(1,853)
2024202411(772)(66)(504)(1,342) 3(3)–– –56(56)–
/(172)2(213)(383)
––––75––75
20241231(866)(11)(773)(1,650)
2025630
9.542024123112.14
17.372024123115.46
2025
202511630
2025
2024123123,25924,852
97,477104,619
(13,297)(14,227)
107,439115,244
(2,762)(2,862)
104,677112,382
8.1
2025
20241231*8,8618,462
52,40755,186
25,65233,758
11,40216,662
9,1677,922
13,2477,481
120,736129,471
* 1
202511630
8.2
2025630
202511
(675)(413)(1,774)(2,862)
(63)5013–
22(25)3–
1898(116)–/99(116)(523)(540)
––912912––(274)(274)2––2
2025630
(597)(406)(1,759)(2,762)
2024202411(707)(436)(1,636)(2,779) (2)11– 193(196)3– 315250(565)–
(477)(31)(590)(1,098)
––1,1861,186––(169)(169)3(1)(4)(2)20241231(675)(413)(1,774)(2,862)
2025
202511630
2025
20241231
2025
20241231(1)––13,43413,428(2)––(188)(184)
––13,24613,244
(1)
(2) 20256301.88202412311.84
2025
20241231
2025
20241231
49,56051,31420,00220,797
49,57251,31620,01420,799
202511630
20251125,03410,68044543,24679,405–1121452565
(23)(304)(7)(935)(1,269)
202563025,01110,48843942,76378,701
202511(7,923)(7,686)(376)(11,587)(27,572)
(413)(451)(10)(701)(1,575)122956214527
2025630(8,324)(7,842)(380)(12,074)(28,620)
202511–(1)–(518)(519)–––(3)(3)–––11
2025630–(1)–(520)(521)
20251117,1112,9936931,14151,314
202563016,6872,6455930,16949,560
2025
202511630
20251125,79510,43842336,656–104–104
(22)(292)(6)(320)
202563025,77310,25041736,440
202511(8,006)(7,497)(356)(15,859)
(426)(444)(10)(880)122845301
2025630(8,420)(7,657)(361)(16,438)
20251117,7892,9416720,797
202563017,3532,5935620,002
202511630
20241124,0439,92444334,410
2321,10161,3391,630––1,630
(110)(587)(26)(723)2024123125,79510,43842336,656202411(7,228)(7,125)(359)(14,712)
(819)(919)(21)(1,759)
415472461220241231(8,006)(7,497)(356)(15,859)20241116,8152,7998419,6982024123117,7892,9416720,797
20256302024123120256302.96202412313.06
2025
202511630
2025117,1864,293324312
(155)(34)
20256307,3554,571
202511
(419)–
––1–
2025630
(418)–
2025116,7674,293
20256306,9374,571
202511630
2024117,8855,137
1,029789(1,728)(1,633)
202412317,1864,293
202411(413)–
––
(6)–
20241231(419)–
2024117,4725,137
202412316,7674,293
2025
202511630
2025114,68812,63417,32232792824
(152)(37)(189)
20256304,56813,38917,957
202511(1,621)(7,672)(9,293)
(66)(771)(837)433780
2025630(1,644)(8,406)(10,050)
2025113,0674,9628,029
20256302,9244,9837,907
2024114,6469,11413,760
703,5223,592
(28)(2)(30)
202412314,68812,63417,322
202411(1,511)(6,384)(7,895)
(110)(1,300)(1,410)
–1212
20241231(1,621)(7,672)(9,293)
2024113,1352,7305,865
202412313,0674,9628,029
202511630
2025113,62412,41116,03532781813–(37)(37)
20256303,65613,15516,811
202511(1,201)(7,517)(8,718)
(52)(761)(813)
–3737
2025630(1,253)(8,241)(9,494)
2025112,4234,8947,317
20256302,4034,9147,317
2024113,5548,93812,492
703,4743,544–(1)(1)
202412313,62412,41116,035
202411(1,111)(6,244)(7,355)
(90)(1,274)(1,364)–11
20241231(1,201)(7,517)(8,718)
2024112,4432,6945,137
202412312,4234,8947,317
2025
202511630
13.1
20251118,99839019,0911,297–81,305(2,159)–(1)(2,160)
202563018,13639718,236
202511(9,475)(1)(32)(9,508)(1,437)–(7)(1,444)1,757–11,758
2025630(9,155)(1)(38)(9,194)
2025119,5232589,583
20256308,9812599,042
20241119,158–9519,253
2,938372,948(3,098)–(12)(3,110)2024123118,99839019,091202411(9,081)–(28)(9,109)
(2,933)(1)(13)(2,947)2,539–92,54820241231(9,475)(1)(32)(9,508)20241110,077–6710,144202412319,5232589,583
202511630
13.1
20251118,28138718,3711,173–81,181(2,143)–(1)(2,144)
202563017,31139417,408
202511(9,057)(1)(31)(9,089)(1,369)–(7)(1,376)1,742–11,743
2025630(8,684)(1)(37)(8,722)
2025119,2242569,282
20256308,6272578,686
20241118,491–9218,583
2,878372,888(3,088)–(12)(3,100)2024123118,28138718,371202411(8,778)–(27)(8,805)
(2,811)(1)(13)(2,825)2,532–92,54120241231(9,057)(1)(31)(9,089)2024119,713–659,778202412319,2242569,282
2025
202511630
13.2
2025
20241231
2025
202412318,6149,0788,2528,771
20256301.30202412311.13
14.1
2025
20241231
2025
2024123158,15058,14955,14255,166(239)(243)––
57,91157,90655,14255,166
202511630
14.2
202563020241231
//
58,958235,83157,461229,864
2,4609,8413,38013,5187,73630,9458,42433,697
177044178
1,3885,5542,56610,2632,1528,6082,2599,084
3231,2923301,324
73,034292,14174,464297,928
(5,962)(23,846)(7,448)(29,794)
(1,741)(6,964)(2,272)(9,094)
(4,918)(19,672)(4,246)(17,054)(2,310)(9,240)(2,385)(9,589)
(192)(768)
(207)(776)
(15,123)(60,490)(16,558)(66,307)
57,911231,65157,906231,621
2025
202511630
14.2
202563020241231
//
56,335225,34054,840219,3582,3989,5933,32513,2987,73630,9458,42433,697
177047186
1,3435,3732,59010,359
2,0608,2412,1938,771
69,889279,56271,419285,669
(5,962)(23,846)(7,449)(29,794)
(1,741)(6,964)(2,272)(9,086)
(4,871)(19,483)(4,211)(16,843)(2,173)(8,693)(2,321)(9,282)
(14,747)(58,986)(16,253)(65,005)
55,142220,57655,166220,664
202511630
14.3
20251157,46111,0345,96974,464(16,558)
1,497(1,866)(1,034)(1,403)904–(27)–(27)531
202563058,9589,1414,93573,034(15,123)
20241150,8869,5786,94467,408(13,030)
6,5751,684(975)7,284(2,176)–(228)–(228)(1,352)2024123157,46111,0345,96974,464(16,558)
20251154,84011,0615,51871,419(16,253)1,495(1,935)(1,060)(1,500)975–(30)–(30)531
202563056,3359,0964,45869,889(14,747)
20241148,5059,5666,47064,541(12,726)
6,3351,710(952)7,093(2,175)–(215)–(215)(1,352)2024123154,84011,0615,51871,419(16,253)
2025
202511630
2025
20241231
2025
20241231(1)10,10510,97010,10210,968(2)6,4376,491––
5,7775,5521,9341,930(3)4,8784,9411,0231,192
3,2123,3282,8242,9533,0772,6101,6881,838
2,7772,820––(4)2,6422,9771,7451,9702,5902,6911,7041,9151,4781,5121,4781,512
1,4291,4191,3691,365
(5)
––
––5,7434,6113,3642,688
51,55551,21928,23029,330
(665)(800)(472)(566)
(4,355)(4,427)(3,654)(3,605)
46,53545,99224,10425,159
202511630
(1) 2018
(2)
(3) 2025630
9.3720246304.08
(4)
2025
2025
1,264106(293)1,077680149(230)5991,03396(163)966
2,977351(686)2,642
2024
202412311,292537(565)1,264
841722(883)680954734(655)1,0333,0871,993(2,103)2,977
2025
202511630
(4)
2025
2025
1,218105(264)1,05975284(150)686
1,970189(414)1,745
2024
202412311,241543(566)1,218567491(306)7521,8081,034(872)1,970(5)
2025
2024/
(3)
/
202563020241231
202511630
2025630/
26––8
1,485164––1,649
47(1)––46
93,12923,452(23,834)3,06995,816
13,8971,841(2,502)(199)13,037
2,862540(912)2722,762
5193–(1)521
419––(1)418
5,227440(647)–5,020
117,58726,445(27,895)3,140119,277
2024/24298–(300)231,513(33)–51,48552621––47697,44439,006(51,183)7,86293,129712,3864,839(2,665)(663)13,89782,7791,098(1,186)1712,8621052319–(23)51911413––6419155,007846(626)–5,227
120,09546,094(55,660)7,058117,587
2025
202511630
2025630/
1–––1
1,485164––1,649
2(1)––1
92,19023,345(23,703)2,97994,811
12,6261,796(2,502)(206)11,714
1844––188
4,171101(146)–4,126
110,65925,409(26,351)2,773112,490
2024/21300–(300)131,513(33)–51,485511––2696,47838,817(50,920)7,81592,190711,1024,836(2,665)(647)12,6269–184––184154,136409(374)–4,171
113,23144,514(53,959)6,873110,659
202511630
2025
20241231
2025
20241231
29,59355,28133,16758,881
664,050901,885669,380907,877
32,91628,74936,91230,113
726,739986,592739,639997,5482,8774,2492,9414,352
729,616990,841742,5801,001,900
2025
202511630
2025
20241231
2025
20241231
48,41448,09537,64437,831
1,8061,594
1,494
23,95532,79323,95532,793
74,17582,48262,50572,118
74,43882,86562,75572,478
2025
20241231
2025
20241231
36,9799,56436,9799,564
(1)31,64733,633––
–
68,64443,22837,1059,564
(1) 20256302024
202511630
2025
2024123184,67988,472
23,21722,594
107,896111,066
108,503111,993
202563020241231
3.1
2025
20241231
2025
20241231201,798175,195187,130161,114
50,26172,44450,26172,444
252,059247,639237,391233,558
252,452248,124237,697233,949
2025
202511630
2025
20241231
2025
20241231
1,066,8161,051,3201,058,5931,042,052
438,833396,934436,966395,091
1,864,7831,895,4901,860,5151,891,174
938,759901,419917,448880,849(1)1,8113,9321,8063,915
4,311,0024,249,0954,275,3284,213,08171,08583,58670,31482,749
4,382,0874,332,6814,345,6424,295,830
(1)
2025
20241231
2025
20241231280,310280,633280,301280,62050,17044,59750,16344,590
26,34928,18526,30228,101
356,829353,415356,766353,311
202511630
2025
2025
13,3468,531(12,411)9,466
5632(636)1 (1)131648(642)137
127984(964)147
34243(233)44
13,64311,038(14,886)9,795
1721,168(1,158)182
2240(41)21 (2)156355(362)149
3501,563(1,561)352
13,99312,601(16,447)10,147
2025
202511630
2024
20241231 13,79422,689(23,137)13,346 –1,582(1,577)5 (1)1331,799(1,801)131 1261,934(1,933)127 42493(501)34
14,09528,497(28,949)13,643 1642,304(2,296)172 2178(77)22 (2)159712(715)156
3443,094(3,088)350
14,43931,591(32,037)13,993
202511630
2025
2025
12,7018,013(11,755)8,959
–603(603)– (1)119618(613)124
128949(930)147
13234(222)25
12,96110,417(14,123)9,255
1691,126(1,116)179
2239(40)21 (2)146343(351)138
3371,508(1,507)338
13,29811,925(15,630)9,593
2025
202511630
2024
20241231 13,21321,512(22,024)12,701 –1,505(1,505)– (1)1181,739(1,738)119 1261,870(1,868)128 11484(482)13
13,46827,110(27,617)12,961 1612,222(2,214)169 2175(74)22 (2)140689(683)146
3222,986(2,971)337
13,79030,096(30,588)13,298
(1)
(2) 20256303%2024
3%
202511630
2025
20241231
2025
202412314,8904,5484,6954,220
2,6932,5882,6432,514
1,045
8,3568,1817,8197,486
2025
20241231
2025
20241231(1)
1,058
1,058
1,6131,7301,6131,729
2025
202511630
(1)
2025630202511(1,008)(49)(1)(1,058)
(3)3––
3(3)––
–1(1)–/4121(2)60
2025630
(967)(27)(4)(998)
2024202411(1,065)(146)(1)(1,212) (13)13–– 5(5)–– 22(4)–
6387415420241231(1,008)(49)(1)(1,058)
202511630
2025
20241231
2025
20241231916,151803,492916,151803,492(1)57,98747,98349,99839,999(2)69,99779,99469,99779,994(3)5,1417,1435,1417,143
1,049,276938,6121,041,287930,628
2,413
2,266
1,049,973941,0251,041,881932,894
20256302024
2025
202511630
(1)
2025
20241231
2025
2024123120223(i)–20,000–20,00020233(ii)1,5991,598––20233(iii)19,99919,99919,99919,99920233(iv)1,5981,597––20233(v)2,3972,395––20243(vi)2,3952,394––20253(vii)9,999–9,999–20253(viii)20,000–20,000–
57,98747,98349,99839,999
(i) 20224732002.95%2025420(ii) 20233203203.40%
(iii) 202351832002.68%(iv) 20235253203.27%
(v) 20237253303.19%
(vi) 20245283302.49%
(vii) 202521831001.70%(viii) 202522032001.85%
202511630
(2)
2025
20241231202010(i)–49,997202410(ii)29,99829,997202510(iii)39,999–
69,99779,994
(i) 2020624105003.75%
52025627(ii) 2024624103002.50%
(iii) 2025425104002.35%
(3)
2025
20241231
2025
2024123120232(i)–1,999–1,99920242(ii)2,9932,9872,9932,98720243(iii)2,1482,1572,1482,157
5,1417,1435,1417,143
(i) 20231102203.15%2025110(ii) 2024372303.08%(iii) 202491333
2025
202511630
2025
20241231
2025
2024123166,84560,69765,32760,0186,8496,665––3,2703,3533,2303,271
3,1442,274––2,714–2,714–2,6882,7782,2502,206
2,0811,0951,484
89,99679,23877,40168,784
2025
20241231A35,46235,462H8,3208,320
43,78243,782
AH1
202511630
29.1
20191015
4.38%100/20020,00020,000
4.38%202410183.17%20256300.2520241231
0.25
29.2
(1)
(2)
(3)
2025
202511630
29.2
(4)
(5)
5.125%A
5.125%
A(1)(2)(6)
(1)(2)
201910155
(7)
20191018
202511630
29.3
2025112025630
20020,000––20020,000
20241120241231
20020,000––20020,000
30.1
2021
20214194.30%100/30030,00030,0002022
20226144.20%100/505,0005,0002024
20248152.35%100/30030,00030,0002024
202410302.73%100/10010,00010,0002025
2025
6192.30%100/30030,00030,000
105,000
2025
202511630
30.2
(1)
2021300202250202430020241002025300(2)(3)
0.01%
202511630
30.2
(4)
(5)
(6)
(7)
2025
202511630
30.3
2025112025630
/
202130030,000––30030,0002022505,000––505,000
202430030,000––30030,000202410010,000––10010,0002025––30030,00030030,000
75,00030,000105,000
20241120241231
/201940040,000(400)(40,000)––202130030,000––30030,0002022505,000––505,0002024––30030,00030030,0002024––10010,00010010,000
75,000–75,000
202511630
2025
20241231688,544642,859
563,544547,859
125,00095,00013,76813,709
13,76813,709
2025
2025
57,842–(2)57,8402452–247
58,0872(2)58,087
2024
2024123157,842––57,842
269–(24)24558,111–(24)58,087
2025
202511630
2025
2025
57,842–(2)57,840
(344)––(344)
57,498–(2)57,496
2024
2024123157,842––57,842––(344)(344)57,842–(344)57,498
33.1
10%50%10%
25%20256302024
30.83
33.2
[2012]20
1.5%
20256301.492024
40.42
2025630202437.19
202511630
33.3
202563017.982024123117.90
2025630137.6820241231
137.09
35 /
20258292025AH101.362025630437.8259.54
202562620242024
AH100.62
437.8227.142024102520242024
AH101.30
437.8256.92202462620232023
AH102.16
437.8294.572024829
4.38%8.7620241018
2025
202511630
35 /
20256162022
4.20%2.1020254212021
4.30%12.902024632022
4.20%2.102024562019
4.85%19.4020244102021
4.30%12.90
202511630
2025202420252024
78,30589,31277,71688,640
41,39546,51741,29946,387
36,01840,78135,52540,239
2,014
2,014
27,30728,39627,03728,174
20,20722,57420,17522,607
7,1005,8226,8625,567
2,9883,438––
2,3893,0952,8043,672
1,9292,2121,9142,196
113,980127,963110,325123,783
(39,015)(46,447)(38,698)(46,084)
(7,529)(13,548)(7,601)(13,679)
(10,123)(9,362)(10,007)(9,293)
(2,437)(3,859)(2,434)(3,856)
(1,870)(2,499)––
(2,584)(1,542)(2,331)(1,142)
(1,089)(1,956)(1,022)(1,858)
(130)(168)(127)(162)
(64,777)(79,381)(62,220)(76,074)
49,20348,58248,10547,709
2025
202511630
2025202420252024
4,8325,2174,8325,217
1,6452,2991,8122,305
2,0251,739
1,4331,0191,4331,019
11,22511,45810,07510,483(1,540)(1,813)(1,455)(1,710)
9,6859,6458,6208,773
2025202420252024
4,097(600)2,751
2,2172,2872,1802,194
2,7721,0242,7721,024
2,3811,9732,3821,973
9,23410,4097,9438,959
202511630
2025202420252024
2025202420252024
3,689(2,970)4,622(1,893)(2,064)(1,460)(2,060)(1,458)
1,625(4,430)2,562(3,351)
2025
202511630
202563020.32
202463027.74202563013.53
202463015.73
2025202420252024
2025202420252024
10,88110,75010,26010,117
1,5481,4931,4931,4403,4603,3433,3913,279
/4,2964,5613,9564,184
20,65720,57119,54819,422
202511630
202520242025202423,45218,12323,34517,8051,5341,7871,5341,786
(78)
(78)
––
26,03920,55125,34119,962
2025202420252024
–
(26)
2025
202511630
2025202420252024
4,477
4,219
(3,710)
(3,835)
1,318
202520242025202422,79423,47621,75021,847
25%5,6995,8695,4385,462(1)(4,698)(4,694)(4,692)(4,690)(2)
(375)(860)(375)(860)
1,318
(1)(2)
202511630
2025202420252024
4,706
4,659
(23)
(1)(2,537)(2,446)(2,539)(2,548)
(479)
(479)
(1,447)1,920(1,466)1,795
(12)(7)(12)(7)
(63)
(25)(11)
(1,478)1,968(1,455)1,807
(18)
––
(1,496)2,036(1,455)1,807
(1)
2025
202511630
2025116,602(12)6027,1924607,652(1,456)32(63)(1,487)(18)(1,505)
20256305,146205395,7054426,147
2024111,507(17)5322,0223742,396
5,0955705,170865,256202412316,602(12)6027,1924607,652
202511630
2025116,810(12)(133)6,665(1,471)31(25)(1,465)
20256305,33919(158)5,200
2024111,852(17)(136)1,699
4,958534,966202412316,810(12)(133)6,665
201920212022202420252930
20256302024123120256302024
2025
202511630
2025202421,38022,474
(1,500)(3,440)
19,88019,03443,78243,782
/
0.45
0.43
49.1
2025202421,47622,709
26,03920,551
4,1614,395
(159)(327)
(1,625)4,430
(17,054)(18,866)
(6,605)(5,065) /
(3,756)
(45,545)(21,852)
(200,577)(286,171)(219,043)(283,843)
202511630
49.1
2025202420,77921,463
25,34119,962
3,3913,279 /(47)
(2,562)3,351
(16,903)(18,719)
(6,646)(5,022) /
(3,871) /(49,026)11,170
(198,546)(319,329)(223,691)(287,383)
49.2
2025202420252024198,766113,038179,68196,927
(184,990)(237,336)(174,635)(230,046)/13,776(124,298)5,046(133,119)
2025
202511630
49.3
2025
20241231
4,9795,260
54,38837,561125,69496,370
1,5561,814
12,14943,985
198,766184,990
2025
20241231
4,8475,105
53,23536,182109,45081,757
12,14951,591
179,681174,635
202511630
50.1
202563055.48202463039.58
50.2
2025630
102.96202463019.65
50.3
2025630
900.76202412311,254.57
2025
202511630
(1)(2)(3)
202511630
202563035,48528,5848,31572,38424,15722,3352,71149,203 /
(123)(951)1,074–
2,6456,4705709,685/8,683(221)5,03413,496(20,791)(22,079)(6,390)(49,260)
(134)(20)(176)(330)
14,5606,4851,74922,794
1,6961,3661,0994,161
1,1239047,3099,336
20256305,090,3541,784,720835,6977,710,771
58,150
7,768,921
(4,741,948)(1,397,376)(927,046)(7,066,370)
(239)
(7,066,609)
938,662525,520–1,464,182
2025
202511630
202463034,60527,2835,23967,12725,09621,2212,26548,582 /4,469(5,528)1,059–
2,8776,0517179,6456,631122,2578,900(16,528)(20,602)(6,556)(43,686)
(52)(5)923518,0246,677(1,225)23,476
1,7241,3581,3134,3951,5071,1877,68610,380
202412315,144,3141,745,584866,9227,756,820
–58,1497,814,969(4,944,030)(1,291,332)(922,796)(7,158,158)
(243)(7,158,401)851,564519,340–1,370,90420242024630
202511630
(1)(2)(3)(4)(5)(6)(7)
(8)
2025
202511630
20256302025
(i)
27,4638,9313,306,49012,1135,0611,239,0707,5703,079758,1746,551(2,034)1,383,8991,2301,411135,3745,1131,603578,2865,8272,374694,8236,5172,369454,986––(840,331)
72,38422,7947,710,771
20246302024
1231
(i)22,3834,6413,416,36211,0322,7551,254,041
7,4413,970819,4638,0294,1231,420,8141,180725151,8425,6352,887573,7124,9412,128688,1446,4862,247437,774
––(1,005,332)67,12723,4767,756,820(i)
202511630
2025
20241231
2025
20241231563,174518,662563,173518,662135,316135,217135,316135,217177,443141,076177,443141,076
525,419519,213525,419519,213 146,06440,45446,06440,454 116,76616,28216,76616,282
1,464,1821,370,9041,464,1811,370,904
2025
202511630
2025
20241231
2025
2024123114,89514,8522,2612,480
3.1
2025
20241231
2025
2024123110,98811,0729,65410,687131,503130,692129,672128,70250,59672,90750,59672,907
386,794373,625386,794373,6257,8329,625––13,66612,720––
601,379610,641576,716585,921
2025630
8.022024123113.42
3.2
202563020241231
202511630
202563020241231
2025630
38.062024123135.0315
202563020241231
2025
20241231207,373273,637
207,373273,637
2025
20241231207,177273,383
207,177273,383
2025
202511630
2025630859.9020241231856.28
2.1
2025630
1,48088,41440,165130,059150,081––150,08120,84224,709–45,5515,574––5,574
177,977113,12340,165331,265
20241231
1,713104,16920,523126,405159,584––159,584
18,25427,173–45,427
3,607––3,607183,158131,34220,523335,023
202511630
2.2
202563011,380.842024123110,156.661,552.03202412311,246.68
2025630
18.72202463017.30202563020241231
1.1
5%5%
5%5%
2025
202511630
1.2
202563020241231
%%
(1)7,810,214,88917.847,810,214,88917.841,828,327,3624.181,828,327,3624.18405,177,3270.93405,177,3270.93
68,000,0000.1668,000,0000.161,379,679,5873.151,379,679,5873.15Alpha Frontier Limited713,501,6531.63713,501,6531.63Liberal Rise Limited84,522,4800.1984,522,4800.191,573,675,8013.591,888,530,7014.311,324,284,4533.021,324,284,4533.02133,200,0000.30133,200,0000.3080,500,0000.1880,500,0000.18
52,700,0000.1252,900,0000.12
202511630
1.2
(1)
PVC
Alpha Frontier LimitedLiberal Rise Limited
2025
202511630
1.2
(1)
202511630
1.2
202563020241231
2025
20241231
307.9
307.9
5.77
5.77
10.34
10.34
27.18
27.18
2.45
2.45
Alpha Frontier Limited
1.75
1.75
Liberal Rise Limited
25.74
25.74
1.33
1.33
0.1
0.1
1.3
2025
202511630
1.4
堃
202511630
1.4
2025
202511630
1.5
5%5%
202563011,983173
43131
11,4825%5%
129100
95%5%
2.1
1%5%20252602202563046.2520241231182.01
2.2
202511630
2.3
2025
20241231|4,62518,201||3,749–||3,4073,467||3,3353,335|3,3073,308堃|3,0103,040|2,5422,542||1,6851,685|1,6491,762||1,2721,260||
||
||
||
|
||
||
|
|
|
||
||
2025
202511630
2.3
2025
20241231|
||
–||
(1)
–
(1)
–
(2)|
(3)||6,800
(3)|4,666
(3)||3,972
||–3,757
(3)|3,046
(3)|900
(3)||603
–
–
–
202511630
2.3
2025
20241231|–
–
–
(3)15
(3)3
(3)2
||1,1001,216
38,29473,056
(%)
0.87
1.66
1.38%–6.30%
2.30%–8.95%
(1) 2025
(2) 1
(3) 2025630
2025
202511630
2.3
20252024
1,3271,887(%)
1.70
2.11
2.4
202563020241231(%)(%)3,4450.253,5410.246440.179230.244570.083030.06––
370.03
390.49
360.45
(1)6351.366961.513,4990.486050.0614,7570.3427,9540.65––
220.03
(1)
202511630
2.4
2025
20241231
4.90% – 5.50%
4.90% – 5.50%
4.00% – 5.32%
2.70% – 5.50%
8.90%
0.05% – 2.08%
0.10% – 2.78%
0.00% – 5.13%
0.00% – 5.31%
20252024(%)(%)
580.05
1950.15(1)
940.84
1151.00
30.15
30.11
3480.542500.31(2)5092.468474.12(3)23217.1521813.86(4)––3570.00
2025
202511630
2.4
2025630
3.0720246303.93
(1) 20256302024630(2)
(3) 20256302.29
20246302.09(4)
202563020241231(%)(%)(1)––
00.00
5050.105400.10
(1) 202412311
202511630
2.4
2025
2024123126,39234,727(%)
0.60
0.79
2.5
20256302024630
2.6
2025630322024123176
2025630
0.1920246300.25
2025
202511630
2.7
2025
2024123121,94125,6221,6632,0802,0262,037
12,96611,081
–
20252024
–
–
202511630
2.8
2025680.00220256
2.9
20256302025630202412310.65
2025
202511630
? //
?
?
2023
202511630
2.1
[2022]10(1)
(2)
2025
202511630
2.1
(3)? 90???????
(4)
(5)
12(PD)(LGD)(EAD)? 12
202511630
2.1
(5)??(6)
(GDP)(M2)(CPI)2025630
(GDP)3.7% ~ 6.2%(M2)5.7% ~ 8.4%(CPI)– 1.2% ~ 1.4%10%5%
202563020241231(7)
DCFDCF
2025
202511630
2.2
2025
20241231
2025
20241231280,204280,189277,253276,957144,879117,731119,12592,461162,928186,456184,869212,07824,13230,28324,05130,19734,80876,95834,26673,035
4,413,7654,396,0364,397,3294,379,490
200,307198,323123,127122,540
1,385,5941,480,7981,385,9181,481,090
580,318532,935571,891524,120
104,677112,382––
32,67531,38221,80822,564
7,364,2877,443,4737,139,6377,214,532
1,464,1821,370,9041,464,1811,370,904
8,828,4698,814,3778,603,8188,585,436
202511630
2.3
2025630
280,204––280,204––––
144,887––144,887(8)––(8)163,384–1,193164,577(456)–(1,193)(1,649)34,419–43534,854(1)–(45)(46)
2,567,308140,46554,7042,762,477(19,533)(15,285)(24,012)(58,830)
1,675,21138,15633,0361,746,403(6,322)(9,257)(21,407)(36,986)1,939,4146,42433,1111,978,949(2,079)(480)(10,478)(13,037)97,2253,9546,260107,439(597)(406)(1,759)(2,762)1,463,240891511,464,182(967)(27)(4)(998)
2025
202511630
2.3
20241231
280,189––280,189–––– 117,733––117,733(2)––(2)
186,748–1,193187,941(292)–(1,193)(1,485)
76,570–43577,005(2)–(45)(47) 2,510,263148,39255,0462,713,701(18,897)(15,094)(22,800)(56,791) 1,711,09931,69531,9451,774,739(7,746)(7,932)(20,660)(36,338)
1,985,6815,90236,0472,027,630(2,359)(412)(11,126)(13,897)
105,2963,8516,097115,244(675)(413)(1,774)(2,862)1,365,6275,27521,370,904(1,008)(49)(1)(1,058)
202511630
2.3
2025630
277,253––277,253––––
119,126––119,126(1)––(1)185,325–1,193186,518(456)–(1,193)(1,649)
34,267––34,267(1)––(1)
2,565,486144,30554,6202,764,411(19,422)(15,219)(23,970)(58,611)
1,656,89037,47032,6681,727,028(5,941)(9,067)(21,192)(36,200)1,931,4686,42431,6311,969,523(2,053)(480)(9,181)(11,714)1,463,239891511,464,181(967)(27)(4)(998)
2025
202511630
2.3
20241231
276,957––276,957–––– 92,462––92,462(1)––(1)
212,370–1,193213,563(292)–(1,193)(1,485)
73,037––73,037(2)––(2) 2,512,907148,14454,9672,716,018(18,769)(15,049)(22,763)(56,581) 1,692,23931,04731,6511,754,937(7,344)(7,752)(20,513)(35,609)
1,977,6545,90234,2802,017,836(2,334)(412)(9,880)(12,626)1,365,6275,27521,370,904(1,008)(49)(1)(1,058)
202511630
2.4
2025
20241231
2025
20241231
1,369,0051,312,3261,373,7471,317,253
873,599802,071868,625797,359
1,638,9981,628,5261,623,3261,612,274
340,135460,957340,030460,828
4,221,7374,203,8804,205,7284,187,714
26,69418,63826,63418,580
22,31321,98922,14721,823
83,81589,92883,15989,307
27,68829,17927,63829,130
160,510159,734159,578158,840
21,85920,30521,78820,252
16,17114,51216,07914,435
37,02540,88336,73840,641
12,57211,16612,57211,166
87,62786,86687,17786,494
4,469,8744,450,4804,452,4834,433,048
19,29819,11719,28919,022
2025
202511630
2.4
202563020241231(%)(%)
588,42713.16547,07012.29
485,86310.87508,46411.42
332,6487.44333,4397.49
288,5056.45295,8996.65
191,7454.29171,0653.85
175,2893.92165,2563.71
148,8863.33136,1163.06
137,8063.08173,0593.89
128,5172.88125,3362.82
68,2781.5364,3451.45
56,7111.2745,8951.03
43,8560.9839,1530.88
26,2120.5922,8370.51
54,4961.2251,9871.17
2,727,23961.012,679,92160.221,742,63538.991,770,55939.78
4,469,874100.004,450,480100.00
202511630
2.4
202563020241231
(%)(%)
588,49713.22545,67112.31
484,97110.89506,94811.44
332,5657.47333,3627.52
287,3976.45294,9456.65
191,6034.30170,8233.85
175,1373.93165,1423.73
148,8263.34136,0513.07
143,5423.22181,3094.09
127,9132.87124,6652.81
68,2691.5364,3381.45
56,6441.2745,8241.04
43,7320.9839,0300.88
26,0530.5922,6590.51
54,0561.2451,5201.16
2,729,20561.302,682,28760.511,723,27838.701,750,76139.49
4,452,483100.004,433,048100.00
2025
202511630
2.4
202563020241231(%)(%)457,94810.25487,00010.94
1,185,37026.521,155,77825.97724,47816.21710,65515.97690,69215.45693,59815.58685,31115.33680,00315.28
504,47911.29510,35511.47
92,6822.0791,7802.06128,9142.88121,3112.73
4,469,874100.004,450,480100.00
202563020241231
(%)(%)
457,94810.29487,00010.991,185,37026.621,155,77826.07724,47816.27710,65516.03694,77315.60699,77815.79685,31115.39680,00315.34504,47911.33510,35511.5192,6822.0891,7802.07107,4422.4297,6992.20
4,452,483100.004,433,048100.00
202511630
2.5
2025630272.2620241231264.01
2025
2024123118,68118,680
0.42
0.42
2025
202511630
2.6
2025630
(1)AAAAAAA
(2)28,943––––28,943
2,424–––2,0834,507
31,367–––2,08333,450
2,660
(8,970)
27,140
634,926665,123711,664461,301,830
105,217––6,235–111,452
106,807127,9692,8221,9258,835248,358
92,752145,33011,5784,1695,515259,344
939,702938,42214,47113,99314,3961,920,984
19,150
(1,362)
1,938,772
1,965,912
202511630
2.6
20241231
(1)AAAAAAA (2)31,033––––31,033 3,433––5941,3995,426
34,466––5941,39936,459
3,797 (9,818)
30,438 618,539727,9914134–1,346,605 106,435–1,171––107,606 87,736149,940–423420238,519 76,647182,8078,8102,400688271,352
889,3571,060,73810,0222,8571,1081,964,082
20,844 (1,630)
1,983,2962,013,734
2025
202511630
2.6
2025630
(1)AAAAAAA (2)28,387––––28,387
2,408–––2,0094,417
30,795–––2,00932,804
2,660
(8,532)
26,932
630,756665,123–1,664–1,297,543
104,584––6,235–110,819
108,261127,9692,8221,7908,155248,997
92,343145,33011,5244,1692,575255,941
935,944938,42214,34613,85810,7301,913,300
18,906
(1,329)
1,930,877
1,957,809
202511630
2.6
20241231
(1)AAAAAAA (2)30,447––––30,447 3,362––5941,3155,271
33,809––5941,31535,718
3,797 (9,346)
30,169 614,161727,991–––1,342,152 105,847–1,171––107,018 87,082151,833–––238,915 76,068182,8078,724–106267,705
883,1581,062,6319,895–1061,955,790
20,881 (1,630)
1,975,0412,005,210
(1)(2)
2025
202511630
2.7
2025
20241231
2025
20241231
24,70927,17323,51425,882
20,84218,25432,53026,842
45,55145,42756,04452,724
202511630
3.1
3.2
2025
202511630
3.2
2025630
278,9865,697249251285,183105,84732,4122,1994,421144,879120,71831,1602,8868,164162,92834,808–––34,8084,263,15289,23738,74022,6364,413,7652,186,829137,0418,64916,3472,348,86692,39412,283––104,677183,78060,2504,19425,591273,815
7,266,514368,08056,91777,4107,768,921
250,488–––250,488671,09847,41611,02181729,61626,59417,6388,51221,69474,43867,61339,6401,2491108,503241,4359,3611,513143252,4524,126,597222,04217,66215,7864,382,0871,044,6355,338––1,049,9738,542–61118,614155,60513,5962,68938,548210,438
6,592,607355,03142,70776,2647,066,609
673,90713,04914,2101,146702,312
113,712(36,450)(59,345)(10,888)7,0291,406,44849,8524,8473,0351,464,182
202511630
3.2
20241231
279,3395,575329206285,44978,89734,8161,5802,438117,731138,83132,7552,49212,378186,45676,958–––76,9584,244,61390,92339,05621,4444,396,0362,251,474128,3575,63413,2372,398,70297,76614,616––112,382163,26841,5705,21731,200241,2557,331,146348,61254,30880,9037,814,969
261,108–––261,108946,74334,8389,2546990,841
23,56832,9486,60819,74182,86572,27037,5382,185–111,993236,2858,0383,78318248,1244,082,728213,03615,35721,5604,332,681
938,8632,162––941,025
8,979–85149,078171,5137,6311,192350180,6866,742,057336,19138,46441,6897,158,401
589,08912,42115,84439,214656,568
57,70711,407(14,746)(47,732)6,6361,317,13848,8772,3952,4941,370,904
2025
202511630
3.2
2025630
275,9035,697249251282,10089,02424,0941,5924,415119,125136,13837,6812,8868,164184,86934,266–––34,2664,242,60692,76638,92323,0344,397,3292,134,578123,8617,87616,0362,282,351
175,09324,5353,51225,531228,671
7,087,608308,63455,03877,4317,528,711
250,318–––250,318681,22049,68311,59681742,58014,91117,6388,51221,69462,755236,623931–143237,6974,090,152222,04217,66215,7864,345,6421,036,5435,338––1,041,8818,211–30118,252115,5148,9272,01938,514164,974
6,433,492304,55939,81976,2296,854,099
654,1164,07515,2191,202674,612
113,712(36,450)(59,345)(10,888)7,0291,406,44749,8524,8473,0351,464,181
202511630
3.2
20241231
275,9525,575329206282,06263,44825,2291,3532,43192,461156,55040,6582,49212,378212,078
73,035–––73,0354,225,98992,55639,50121,4444,379,4902,203,259114,3944,41913,2222,335,294154,9336,0034,50331,154196,5937,153,166284,41552,59780,8357,571,013260,767–––260,767955,90036,7319,26361,001,90015,21230,9176,60819,74172,478230,3113,638––233,9494,045,728213,18515,35721,5604,295,830
930,7322,162––932,8948,703–54148,771129,4184,360814328134,9206,576,771290,99332,09641,6496,941,509
576,395(6,578)20,50139,186629,504
57,70711,407(14,746)(47,732)6,6361,317,13848,8772,3952,4941,370,904
2025
202511630
3.2
20256301%
2.13202412315.061%
2.13202412315.06
a. 1%b. 1%c.
d.e.f.
3.3
(1)
202511630
3.3
(1)
(2)
2025630
1155280,102––––5,081285,183139,2531,7443,772––110144,879
18,62519,17993,03831,675–411162,92834,777––––3134,808917,2671,084,9901,584,834681,200106,46839,0064,413,76542,17874,495441,974966,296593,514230,4092,348,8665,2687,67731,61642,38517,731–104,67724914161,910–271,239273,815
1,437,7191,188,0862,155,6501,723,466717,713546,2877,768,921
2025
202511630
3.3
2025630
11554,19253,418190,115––2,763250,488599,70745,09881,934––2,877729,61627,81229,85616,507––26374,43843,95514,48546,5741,5101,372607108,503172,20544,06935,785––393252,4521,974,096401,185954,393981,04328571,0854,382,087107,102343,169492,07236,93769,9966971,049,9732135041,9215,016960–8,61422739,026996––170,189210,438
2,929,509970,8101,820,2971,024,50672,613248,8747,066,609
(1,491,790)217,276335,353698,960645,100297,413702,312
202511630
3.3
20241231
1155280,068––––5,381285,449111,0662,4554,100––110117,731133,97821,26425,5144,961272467186,456
76,926––––3276,958926,4581,036,2121,567,709686,091141,60737,9594,396,036
76,12075,079319,5821,015,643658,311253,9672,398,702
7,4008,83234,32153,4568,373–112,382
402–797971–239,085241,2551,612,4181,143,8421,952,0231,761,122808,563537,0017,814,969
2025
202511630
3.3
20241231
115510,00255,676193,389––2,041261,108516,300145,127325,165––4,249990,841
40,08029,64712,755––38382,86540,91025,31842,3002,538–927111,99360,94297,82188,876––485248,1241,979,580410,504845,6921,013,10721283,5864,332,681
15,440202,312609,89530,97079,9942,414941,0252255122,0075,340994–9,0781509,8341,884––168,818180,6862,663,629976,7512,121,9631,051,95581,200262,9037,158,401(1,051,211)167,091(169,940)709,167727,363274,098656,568
202511630
3.3
2025630
1155277,152––––4,948282,100119,103––––22119,125
25,49819,179107,44432,248–500184,86934,257––––934,266915,2911,083,0241,574,273678,627107,15838,9564,397,32941,31372,727435,027925,026547,828260,4302,282,351–––––228,671228,671
1,412,6141,174,9302,116,7441,635,901654,986533,5367,528,711
2025630
11554,17653,350190,029––2,763250,318428,188122,772188,679––2,941742,58019,36826,63016,507––25062,755159,90642,63334,852––306237,6971,962,689399,164941,652971,823–70,3144,345,642107,102343,169488,87532,14569,9965941,041,8812044821,8404,806920–8,252
–37,105–––127,869164,974
2,681,6331,025,3051,862,4341,008,77470,916205,0376,854,099
(1,269,019)149,625254,310627,127584,070328,499674,612
2025
202511630
3.3
20241231
1155276,837––––5,225282,06292,443––––1892,461157,00322,26426,5145,536272489212,07873,025––––1073,035926,0561,040,4951,555,631679,640139,76037,9084,379,490
76,06073,830310,969978,756612,090283,5892,335,294–––––196,593196,5931,601,4241,136,5891,893,1141,663,932752,122523,8327,571,013
20241231
115510,00055,655193,083––2,029260,767521,686146,518329,344––4,3521,001,90031,41027,95312,755––36072,47848,22797,17488,157––391233,9491,964,586406,940837,9221,003,633–82,7494,295,830
15,440202,312609,89522,98679,9942,267932,8942174951,9395,160960–8,771–9,564–––125,356134,9202,591,566946,6112,073,0951,031,77980,954217,5046,941,509(990,142)189,978(179,981)632,153671,168306,328629,504
202511630
3.3
10012
2025
20241231
2025
20241231
////
(10,870)(6,269)(9,920)(5,757)
10,8706,2699,9205,757
a.b.c.d.e.f.g.h.
2025
202511630
4.1
202511630
4.1
4.2
2025630
1155
225,81659,367–––––285,183
–135,0424,3211,7443,772––144,879––18,69819,20793,27931,744–162,928411–34,397––––34,80853,90110,314288,454244,9141,245,5811,332,4261,238,1754,413,765209,478–43,05975,201446,398976,004598,7262,348,866
8,0322,0195,8397,67730,10039,59311,417104,677224,7591,37610,4177,72316,09211,7991,649273,815
722,397208,118405,185356,4661,835,2222,391,5661,849,9677,768,921
2025
202511630
4.2
2025630
1155––4,25654,241191,991––250,488
–581,87920,53545,17082,032––729,616––27,89730,00916,532––74,438––19,51616,98557,2957,9256,782108,503––172,44844,19635,808––252,452–1,795,188213,459407,611969,231996,598–4,382,087––107,172343,169492,69936,93769,9961,049,973––2135041,9215,0169608,6141,837160,5159,47116,07310,8919,6062,045210,438
1,8372,537,582574,967957,9581,858,4001,056,08279,7837,066,609
720,560(2,329,464)(169,782)(601,492)(23,178)1,335,4841,770,184702,312
––1,214,0871,096,8875,174,670227,1892,0157,714,848
202511630
4.2
20241231
1155
242,62842,821–––––285,449 –107,1584,0182,4554,100––117,731
––31,38867,95978,6648,169276186,456411–76,547––––76,95853,7368,030340,287309,5221,292,3161,225,1481,166,9974,396,036221,567–78,57171,247328,5541,034,130664,6332,398,702
7,3191,1461,4691,70014,31374,85811,577112,382188,26935810,92110,40019,01210,7691,526241,255713,930159,513543,201463,2831,736,9592,353,0741,845,0097,814,969
2025
202511630
4.2
20241231
1155––10,24756,793194,068––261,108–455,08065,238145,227325,296––990,841––40,22829,81112,826––82,865––20,08726,87447,68913,1944,149111,993––61,07898,07388,973––248,124–1,805,555213,072418,649862,2261,033,179–4,332,681––15,440202,356610,11133,12479,994941,025––2255122,0075,3409949,0781,73096,18514,48930,43724,10811,9311,806180,6861,7302,356,820440,1041,008,7322,167,3041,096,76886,9437,158,401712,200(2,197,307)103,097(545,449)(430,345)1,256,3061,758,066656,568
––819,127839,0963,906,470187,9271,4245,754,044
202511630
4.2
2025630
1155
224,01858,082–––––282,100
–119,10421––––119,125––25,68919,200107,65532,325–184,869––34,266––––34,26653,60110,251286,743242,9641,237,9431,329,0841,236,7434,397,329240,057–42,18773,429439,424934,489552,7652,282,351194,628969,7486,53813,0223,1291,510228,671
712,304187,533398,654342,1311,798,0442,299,0271,791,0187,528,711
2025
202511630
4.2
2025630
1155––4,24054,172191,906––250,318–355,63775,155122,975188,813––742,580––19,44826,77516,532––62,755––160,09742,74134,859––237,697–1,783,392211,848405,682957,028987,692–4,345,642––107,102343,169488,97232,34470,2941,041,881––2044821,8404,8069208,2521,613128,0277,50213,1466,7406,7241,222164,974
1,6132,267,056585,5961,009,1421,886,6901,031,56672,4366,854,099
710,691(2,079,523)(186,942)(667,011)(88,646)1,267,4611,718,582674,612
––1,214,0871,096,8875,174,670225,1972,0157,712,856
202511630
4.2
20241231
1155
240,77541,287–––––282,062 –92,44417––––92,461
––42,40974,36286,2848,747276212,078––73,035––––73,03553,4847,958339,157309,7361,282,0711,224,0581,163,0264,379,490252,654–76,98469,796318,956998,938617,9662,335,294156,910109,3489,17316,2093,4891,454196,593703,823141,699540,950463,0671,703,5202,235,2321,782,7227,571,013
2025
202511630
4.2
20241231
1155––10,24456,771193,752––260,767–458,97466,006146,831330,089––1,001,900––31,53528,11712,826––72,478––48,28697,41288,251––233,949–1,792,644210,627414,915854,3421,023,302–4,295,830––15,469202,312608,16525,50281,446932,894––2174951,9395,1609608,7711,72962,34613,08727,30820,5158,7191,216134,9201,7292,313,964395,471974,1612,109,8791,062,68383,6226,941,509702,094(2,172,265)145,479(511,094)(406,359)1,172,5491,699,100629,504
––819,127839,0963,906,470186,662145,751,369
202511630
4.3
2025630
1155
225,81659,367–––––285,183
–135,0424,3451,7643,835––144,986––18,85619,26394,02632,618–164,763411–34,401––––34,812103,94911,840392,102347,8731,553,6701,387,8731,753,7295,551,036218,215–46,71183,992484,6571,084,435724,7952,642,8058,8612,5906,0778,83034,91046,22113,247120,736228,5551,3764,9191,8475,01412,3211,615255,647
785,807210,215507,411463,5692,176,1122,563,4682,493,3869,199,968
2025
202511630
4.3
2025630
1155
––4,26054,496193,860––252,616–582,63020,56945,25282,269––730,720––27,91230,15616,626––74,694––19,53617,09758,1798,0446,827109,683––172,55844,18236,049––252,789–1,795,188213,995408,818973,7711,006,269–4,398,041––107,287344,192499,79345,05777,7001,074,029––2195191,9795,1699908,8761,837237,5759,47116,07310,8919,6062,045287,498
1,8372,615,393575,807960,7851,873,4171,074,14587,5627,188,946
202511630
4.3
20241231
1155
242,62842,821–––––285,449 –107,1584,0232,4554,100––117,736
1,199–31,50669,25780,3808,173545191,060411–76,560––––76,97195,60510,687360,417360,6121,463,3561,522,8701,692,9575,506,504238,652–81,84880,284368,0981,144,083789,2972,702,262
8,7671,3491,5781,75315,20985,79215,021129,469183,0423585,4031,5524,5029,4701,418205,745770,304162,373561,335515,9131,935,6452,770,3882,499,2389,215,196
20241231
1155––10,25857,048197,279––264,585 –455,52265,286145,297325,378––991,483
––40,24229,97812,943––83,163––20,11127,16748,37113,8714,465113,985––61,18598,47089,893––249,548–1,805,555213,319419,644865,1541,062,311–4,365,983––15,450203,164617,25733,50296,125965,498––2435522,1655,7591,0729,7911,73096,1856,26620,0259,95910,6541,794146,6131,7302,357,262432,3601,001,3452,168,3991,126,097103,4567,190,649
2025
202511630
4.3
2025630
1155
224,01858,082–––––282,100
–119,10426––––119,130––25,88019,263108,43433,283–186,860––34,269––––34,269103,35211,764390,279345,7261,545,4451,383,2011,751,9645,531,731246,234–45,75381,964476,4661,038,289674,1952,562,901196,779964,2506621,9443,7321,476208,939
770,383189,046500,457447,6152,132,2892,458,5052,427,6358,925,930
2025630
1155––4,24554,426193,773––252,444
–355,96775,254123,100189,095––743,416––19,46426,90416,626––62,994––160,22442,71935,079––238,022–1,783,392212,385406,889961,568997,363–4,361,597––107,210344,192496,42740,12077,7001,065,649––2195191,9795,1699908,8761,61396,5847,50213,1466,7406,7241,222133,531
1,6132,235,943586,5031,011,8951,901,2871,049,37679,9126,866,529
202511630
4.3
20241231
1155
240,77541,287–––––282,062 –92,44422––––92,466
1,199–42,63675,06388,3709,333363216,964
––73,048––––73,04895,5159,423360,301349,5021,459,7931,516,3351,692,5045,483,373265,745–80,27678,846358,5621,109,271743,5492,636,249152,554103,8303251,6992,2071,416162,041755,788143,164560,113503,7361,908,4242,637,1462,437,8328,946,203
20241231
1155
––10,25657,027196,969––264,252 –459,41966,020146,858330,493––1,002,790
––31,57328,28412,943––72,800
––48,34797,80489,147––235,298
–1,792,644210,875415,910857,2701,052,434–4,329,133
––15,482203,110618,28536,43485,625958,936
––2355352,0975,5791,0389,4841,72962,3464,86416,8966,3667,4561,204100,8611,7292,314,409387,652966,4242,113,5701,101,90387,8676,973,554
2025
202511630
4.4
(1)
202563011331155
(3,011)(2,942)(2,343)58–(8,238)53234323254486822107–283–412
(2,936)(2,601)(2,020)5954(6,958)
20241231113311553646,828(6,148)2,486–3,530
(115)(32)6271658653
20–60167–2472696,796(5,461)2,81884,430
202511630
4.4
(1)
202563011331155
(3,011)(2,942)(2,343)29–(8,267)53234323206181722107–283–412
(2,936)(2,601)(2,020)5181(7,038)
20241231113311553646,828(6,148)2,486–3,530
(120)(36)6051101560
20–60167–2472646,792(5,483)2,76314,337
2025
202511630
4.4
(2)
202563011331155
(1,013,165)(932,094)(2,537,932)(188,285)–(4,671,476)
1,012,235932,6442,539,385188,876–4,673,140
(40,354)(20,883)(30,849)––(92,086)
42,16926,87730,458––99,504(1,053,519)(952,977)(2,568,781)(188,285)–(4,763,562)
1,054,404959,5212,569,843188,876–4,772,644
202511630
4.4
(2)
2024123111331155 (503,079)(620,948)(1,486,938)(156,924)–(2,767,889) 504,851623,0481,491,178157,124–2,776,201 (25,742)(23,868)(25,038)––(74,648) 25,75223,94225,105––74,799
(528,821)(644,816)(1,511,976)(156,924)–(2,842,537)530,603646,9901,516,283157,124–2,851,000
2025
202511630
4.4
(2)
202563011331155
(1,013,165)(932,094)(2,537,932)(188,285)–(4,671,476)
1,012,235932,6442,539,385188,876–4,673,140
(40,354)(20,883)(30,849)––(92,086)
42,16926,87730,458––99,504(1,053,519)(952,977)(2,568,781)(188,285)–(4,763,562)
1,054,404959,5212,569,843188,876–4,772,644
2024123111331155 (503,079)(620,948)(1,486,938)(156,924)–(2,767,889) 504,851623,0481,491,178157,124–2,776,201 (25,742)(23,868)(25,038)––(74,648) 25,75223,94225,105––74,799
(528,821)(644,816)(1,511,976)(156,924)–(2,842,537)530,603646,9901,516,283157,124–2,851,000
202511630
4.5
20256301155
563,174––563,174176,997446–177,44389,89744,628791135,316525,419––525,41947,18314,94370462,830
1,402,67060,0171,4951,464,182
202412311155518,662––518,662140,779297–141,076
93,41640,819982135,217519,213––519,21342,27813,59886056,7361,314,34854,7141,8421,370,904
2025
202511630
4.5
20256301155
563,173––563,173176,997446–177,44389,89744,628791135,316525,419––525,41947,18314,94370462,830
1,402,66960,0171,4951,464,181
202412311155518,662––518,662140,779297–141,076
93,41640,819982135,217519,213––519,21342,27813,59886056,7361,314,34854,7141,8421,370,904
202511630
(ILM)
202411
2025
202511630
7.75%8.75%10.75%
20256302025
202511630
2025630
–171,7632,050173,813
1,0464,59216,43222,070
79,70171,4691,587152,757
–15,2045,63820,842
4,687808865,653
–579,329989580,318
671,5286,2247,819
–143,649–143,649
–20,3443020,374
–1,362–1,362
–2,356–2,356
–40–40
85,5011,011,71633,8361,131,053
–(20,167)–(20,167)
–(1,093)–(1,093)
–(10,181)–(10,181)
–(2)–(2)
–(68,626)(18)(68,644)
–(100,069)(18)(100,087)
2025
202511630
20241231
–174,2062,005176,211 1,0201,65514,56117,236 90,90869,4231,567161,898 –12,6035,65118,254 2,8071019503,858
–532,060875532,935 681,4695,9757,512 –232,509–232,509 –26,568–26,568 –1,844–1,844 –1,839–1,839 –32–32
94,8031,054,30931,5841,180,696
–(25,516)(14)(25,530) –(687)–(687) –(7,856)–(7,856) –––– –(43,197)(31)(43,228)
–(77,256)(45)(77,301)
202511630
2025630
–82,9972,04385,040
7834,27013,19118,244
76,641100,750–177,391
–13,72618,80432,530
4,688–8695,557
–570,910981571,891
57–5,7235,780
–143,649–143,649
–20,344–20,344
–1,311–1,311
–2,356–2,356
–40–40
82,169940,35341,6111,064,133
–(20,167)–(20,167)
–(1,093)–(1,093)
–(10,181)–(10,181)
–(2)–(2)
–(37,105)–(37,105)
–(68,548)–(68,548)
2025
202511630
20241231
–90,1121,99592,107 1,0071,59611,79314,396 90,14997,485–187,634 –11,12715,71526,842 2,807–7833,590
–523,289831524,120 68–5,4475,515 –232,509–232,509 –26,568–26,568 –1,758–1,758 –1,839–1,839 –32–32
94,031986,31536,5641,116,910
–(25,516)–(25,516) –(687)–(687) –(7,856)–(7,856) –––– –(9,564)–(9,564)
–(43,623)–(43,623)
202511630
2025630
20251124,7348755,975–31,584311445/4,391(148)––4,243–––/–(144)249–105–––/950406–301,386–––/(3,482)–––(3,482)(13)(14)(27)
202563026,5939896,2243033,83618–18
187–––187–––
/4,204(148)––4,056–––
2024
20241128,9949405,89335,827814–814
(2,216)(126)–(2,342)–––/–(269)82(187)–––/1,309360–1,669–1414/(3,353)(30)–(3,383)(783)–(783)2024123124,7348755,97531,584311445
330––330–––
(2,546)(126)–(2,672)–––
2025
202511630
2025630
20251130,2868315,44736,564/4,741(148)–4,593/–(108)276168/2,980406–3,386/(3,100)––(3,100)
202563034,9079815,72341,611
188––188
/4,553(148)–4,405
2024
20241123,7808005,33029,910
(1,595)(126)–(1,721)/–(173)117(56)/10,088360–10,448/(1,987)(30)–(2,017)2024123130,2868315,44736,564
291––291
(1,886)(126)–(2,012)
202511630
(1)
(2)
/
(3)
2025630
1,385,5941,442,926–1,403,92639,000
1,049,9731,037,996–1,037,996–
20241231
1,480,7981,529,949–1,488,79141,158
941,025933,371–933,371–
2025
202511630
2025630
1,385,9181,439,177–1,400,26238,915
1,041,8811,029,901–1,029,901–
20241231
1,481,0901,528,186–1,488,31939,867932,894925,245–925,245–
202511630
20252024
(14)(50)
(73)
(378)(47)(64)(30)(74)
(127)(15)
20252024(%)
7.14
7.04
(%)
7.18
7.05
/
0.45
0.43
/
0.46
0.44
/
0.45
0.43
/
0.46
0.44
2025
202511630
2025630437.822024630
437.82
202563020256302024630
2025
20241231(%)
155.16
161.99
1,109,6761,086,316
715,192670,628
2018100%
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