<p>摩根大通发布报告称，民生银行 (01988.HK) +0.040 (+1.124%) 空头头寸为 886.10K 美元；比例为 4.048%。该行报告的第一季度收益未能达到预期。收入同比增长 3%，而净利润同比下降 10%，主要由于减值准备高于预期 13%，抵消了净利差环比反弹和手续费收入稳健增长等积极运营趋势。非手续费收入也低于预期，导致总非利息收入比经纪商预测低 2%。</p>
<p>该经纪商认为，超出预期的减值费用和对资产质量的持续担忧可能会对银行的盈利前景施加压力。它预计股价将面临轻微的负面反应。摩根大通对民生银行给予中性评级，目标价为 3.9 港元。(hc/j)(香港股票报价延迟至少 15 分钟。空头数据截至 2026-05-04 12:25。)</p>
<p>本文由人工智能自动翻译，中文版本应视为权威版本。AASTOCKS.com Limited 不保证其准确性或完整性，并对因使用此翻译而导致的任何损害或损失不承担任何责任。</p>

民生银行

<p>摩根大通的报告显示，民生银行未能达到 2023 年第一季度的盈利预期，收入同比增长 3%，但由于拨备增加，净利润同比下降 10%。该银行的非利息收入也未能达到预期。对资产质量的担忧可能会对未来的盈利造成压力，因此摩根大通给予其中性评级，目标价为 3.9 港元。预计股价将出现轻微的负面反应</p>

<p>JPM released a report stating that MINSHENG BANK (01988.HK) +0.040 (+1.124%)  Short selling $886.10K; Ratio 4.048%  reported 1Q earnings that missed expectations. Revenue rose 3% YoY, while net profit fell 10% YoY, mainly due to impairment provisions that were 13% higher than expected, offsetting positive operating trends such as a QoQ rebound in NIM and solid growth in fee income. Non-fee income was also weaker than expected, dragging total non-interest income to 2% below the brokers forecast.</p>
<div class="lb-trans"><p>摩根大通发布报告称，民生银行 (01988.HK) +0.040 (+1.124%) 空头头寸为 886.10K 美元；比例为 4.048%。该行报告的第一季度收益未能达到预期。收入同比增长 3%，而净利润同比下降 10%，主要由于减值准备高于预期 13%，抵消了净利差环比反弹和手续费收入稳健增长等积极运营趋势。非手续费收入也低于预期，导致总非利息收入比经纪商预测低 2%。</p>
</div><p>The broker believes that higher-than-expected impairment charges and ongoing concerns over asset quality may pressure the banks earnings outlook. It expects the share price to face a mildly negative reaction. JPM assigned a Neutral rating to MINSHENG BANK with a TP of HKD3.9. (hc/j)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-05-04 12:25.)</p>
<div class="lb-trans"><p>该经纪商认为，超出预期的减值费用和对资产质量的持续担忧可能会对银行的盈利前景施加压力。它预计股价将面临轻微的负面反应。摩根大通对民生银行给予中性评级，目标价为 3.9 港元。(hc/j)(香港股票报价延迟至少 15 分钟。空头数据截至 2026-05-04 12:25。)</p>
</div><p>This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation.</p>
<div class="lb-trans"><p>本文由人工智能自动翻译，中文版本应视为权威版本。AASTOCKS.com Limited 不保证其准确性或完整性，并对因使用此翻译而导致的任何损害或损失不承担任何责任。</p>
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摩根大通：民生银行第一季度收益未达预期；维持中性评级