Financial Performance - Net profit attributable to shareholders was RMB 19.19 billion, a slight increase of 0.25% year-on-year [4]. - Operating income for the first quarter was RMB 53.57 billion, representing a year-on-year growth of 4.52% [4]. - For the three months ended March 31, 2024, net interest income was RMB 34,960 million, a decrease of 4.55% from RMB 36,626 million in the same period of 2023 [38]. - Total operating income for the same period was RMB 53,569 million, an increase of 4.51% compared to RMB 51,252 million in 2023 [38]. - The bank's pre-tax profit for Q1 2024 was RMB 21,914 million, down 2.65% from RMB 22,511 million in Q1 2023 [38]. - The bank reported a significant increase in other comprehensive income after tax, totaling RMB 4,297 million for Q1 2024, compared to RMB 597 million in Q1 2023 [39]. - The bank's credit impairment losses for Q1 2024 were RMB 16,819 million, an increase from RMB 14,109 million in the same period of 2023 [38]. Asset and Loan Growth - As of March 31, 2024, total assets reached RMB 9,070.31 billion, a 0.20% increase from the end of 2023 [3]. - Total loans and advances amounted to RMB 5,582.31 billion, reflecting a 1.53% increase compared to the end of 2023 [3]. - Customer deposits totaled RMB 5,417.09 billion, an increase of 0.35% from the end of 2023 [3]. - The balance of corporate loans (excluding discount loans) increased by 7.70% to RMB 2,904.96 billion [8]. - The balance of personal housing mortgage loans was CNY 977.495 billion, growing by 0.65% year-on-year [9]. - The balance of inclusive small and micro enterprise loans was CNY 572.690 billion, with an increase of CNY 27.614 billion, outpacing the growth rate of other loan categories [12]. - The balance of medium and long-term loans in the manufacturing sector reached CNY 278.459 billion, an increase of 7.69% compared to the end of the previous year [9]. Capital and Liquidity Ratios - The core Tier 1 capital adequacy ratio stood at 9.69% as of March 31, 2024, an increase from 8.99% on December 31, 2023 [24]. - The leverage ratio was reported at 7.24% as of March 31, 2024, up from 6.66% at the end of December 2023 [25]. - The liquidity coverage ratio was 128.99% as of March 31, 2024, down from 167.48% on December 31, 2023 [26]. - The total capital adequacy ratio was 13.61% as of March 31, 2024, an increase from 12.93% at the end of December 2023 [24]. Shareholder Information - The total number of ordinary shareholders was 128,730, with the largest shareholder, China CITIC Financial Holdings, holding 67.05% of the shares [27]. - CITIC Financial Holdings held a total of 36,610,129,412 shares, accounting for 68.70% of the total shares of the company as of the reporting period [4]. - The total number of preferred shareholders was 39, with the largest shareholder being China Mobile Communications Group Co., Ltd., holding 43,860,000 shares, representing 12.53% [32]. - The conversion of CITIC Financial Holdings' convertible bonds resulted in an increase of 4,325,901,639 shares, raising their total holdings to 36,610,129,412 shares [34]. Customer and Market Engagement - The number of "specialized, refined, distinctive, and innovative" enterprises served increased to 28,636, up by 1,492 from the end of the previous year [10]. - The company served 22,000 small foreign trade customers, reflecting a commitment to expanding its customer base [16]. - The company added over 2,800 private banking clients, achieving the best historical performance for the same period [16]. - The AI outbound calling service saw a year-on-year increase of 65% in the number of customers contacted [14]. Cash Flow and Investment Activities - Cash flow from operating activities showed a net outflow of RMB 333.14 billion, a significant increase in outflow compared to the previous year [6]. - Net cash flow from operating activities for Q1 2024 was RMB (333,139) million, compared to RMB (12,733) million in Q1 2023, indicating a significant decline [42]. - Net cash flow from investing activities for Q1 2024 was RMB 18,942 million, down from RMB 89,793 million in Q1 2023 [43]. - Net cash flow from financing activities for Q1 2024 was RMB 244,521 million, a substantial increase from RMB (74,615) million in Q1 2023 [43]. Non-Performing Loans - The company’s non-performing loan balance was 65.637 billion RMB, with a non-performing loan ratio of 1.18% and a provision coverage ratio of 207.79% [20][21]. - The company’s personal housing mortgage loans reached 977.495 billion RMB, with a year-on-year increase of 6.324 billion RMB, and a non-performing loan ratio of 0.56% [19].

Financial Performance - Operating revenue reached 2,055.70 million, with net profit at 670.16 million, reflecting a net profit growth rate of 7.91%[6] - The net profit attributable to shareholders for 2023 reached CNY 67.016 billion, maintaining a high growth rate[15] - Return on Assets (ROA) and Return on Equity (ROE) were 0.77% and 10.80% respectively, indicating steady improvement in operational efficiency[15] - Total profit for 2023 reached RMB 74,887 million, reflecting a growth of 2.00% compared to RMB 73,416 million in 2022[29] - The company's operating income for 2023 was RMB 205,570 million, a decrease of 2.62% from RMB 211,109 million in 2022[29] - The average return on equity (ROAE) for 2023 was 10.80%, unchanged from the previous year[31] - The cost-to-income ratio for 2023 was 32.61%, an increase from 30.66% in 2022[31] - The net interest margin was 1.78% in 2023, down from 1.97% in 2022[36] - Non-interest income achieved positive growth despite adverse conditions, demonstrating effective light capital transformation[15] Asset and Liability Management - Total assets surpassed CNY 9 trillion, marking a significant milestone for the company[15] - The total amount of loans and advances reached RMB 5,498,344 million, representing a growth of 6.71% from RMB 5,152,772 million in 2022[32] - Customer deposits totaled RMB 5,398,183 million, an increase of 5.86% compared to RMB 5,099,348 million in the previous year[32] - The non-performing loan ratio improved to 1.18% as of December 31, 2023, down from 1.27% in 2022[33] - The provision coverage ratio increased to 207.59% in 2023, compared to 201.19% in the previous year[33] - The total liabilities of the group as of December 31, 2023, were RMB 8,317,809 million, reflecting a growth of 5.80% compared to the previous year[93] - The proportion of customer deposits to total liabilities was 65.7%, a slight increase of 0.1 percentage points from the previous year[94] Risk Management - The bank emphasizes risk management and has not identified any significant risks affecting its future development strategies[2] - The company has implemented a comprehensive risk management system, enhancing its ability to manage risks effectively[17] - The focus on digital risk management tools, including big data and AI, is aimed at improving the overall risk control process[17] - The bank emphasizes the importance of maintaining a robust risk management system in light of recent failures in the banking sector, such as Silicon Valley Bank and Credit Suisse[19] - The bank aims to enhance its risk management capabilities by focusing on compliance and proactive risk management, ensuring no systemic risks occur[19] Strategic Vision and Innovation - The bank's strategic vision includes becoming a world-class bank, focusing on customer-centric services and comprehensive financial solutions[1] - The bank's "Five Leading" strategy aims to excel in wealth management, comprehensive financing, transaction settlement, foreign exchange services, and digital banking[3] - The bank has established a unique direct banking model through its joint venture with Baidu, marking a significant innovation in the domestic banking sector[1] - The bank's future outlook includes continued expansion and innovation in financial services to meet diverse customer needs[2] - The bank is transitioning towards a "technology-industry-finance" triangle, focusing on innovation and high-quality growth through resource efficiency[18] Customer Engagement and Market Position - The bank's new brand slogan "Let Wealth Have Temperature" reflects its commitment to personalized and diversified wealth management services[19] - The number of technology personnel has grown to over 5,600, significantly enhancing the company's development capabilities[10] - The number of customers increased by over 30%, with new products like the "Tian Yuan Treasury" management system gaining market acclaim[17] - The bank's wealth management, asset management, and comprehensive financing capabilities have shown rapid growth, with retail revenue contribution rising to 42%[9] - The bank's asset management products received 51 awards, including "Golden Wealth Management" and "Golden Bull Award," solidifying its market position among the top three in the industry[154] Technology and Digital Transformation - The company has invested nearly 28 billion yuan in technology over the past three years, with a compound annual growth rate of 17%[10] - The company's data storage capacity and computing power have increased sixfold compared to three years ago, establishing a robust digital infrastructure[10] - The bank's technology-driven approach led to the completion of over 460 business requirements during the reporting period, enhancing data integration across various systems[154] - The bank's AI platform, "CITIC Brain," had an average daily usage of over 14 million times, a 30% increase from the beginning of the year[159] - The bank's digital transformation efforts have led to the launch of the mobile banking 10.0 "Private Banking Exclusive Version," enhancing online service experiences for clients[191] Awards and Recognition - The bank ranked 20th in the "Global Banking Brand 500" by The Banker magazine and 19th in the "World's 1000 Banks" ranking for Tier 1 capital[1] - The company was recognized as a "Pioneer in ESG Practices" by various financial media and organizations, highlighting its commitment to sustainable development[28] - The company received multiple awards for market influence, including "Core Dealer" and "Bond Market Dealer" from the National Interbank Funding Center[25] - The retail intelligent decision-making platform won the "Overall Glory Award" at the 2023 Digital Financial Innovation Competition[26] Market Trends and Economic Context - In 2023, China's GDP grew by 5.2%, driven by final consumption expenditure contributing 4.3 percentage points, capital formation contributing 1.5 percentage points, and net exports detracting 0.6 percentage points[37] - The total assets of China's banking sector reached 417.3 trillion yuan, an increase of 9.9% year-on-year, with a net profit of 2.4 trillion yuan, reflecting a 3.2% year-on-year growth[38] - The proactive fiscal policy and stable monetary policy in 2023 have supported the banking sector's growth and stability[37]

证券代码：601998 证券简称：中信银行 公告编号：临 2024-024 中信银行股份有限公司 关于 2024 年无固定期限资本债券发行完毕的公告 本行董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 根据中国人民银行《准予行政许可决定书》（银许准予决字〔2024〕第 6 号）， 中信银行股份有限公司（以下简称"本行"）获准发行金融债券，2024 年金融债 券新增余额不超过 800 亿元，年末金融债券余额不超过 3,600 亿元。根据《国家 金融监督管理总局关于中信银行发行资本工具的批复》（金复〔2023〕467 号）， 本行获准发行不超过 1,200 亿元人民币的资本工具。 经前述监管机构批准，本行近日在全国银行间债券市场发行了 2024 年无固 定期限资本债券（第一期）（以下简称"本期债券"）。本期债券已于 2024 年 4 月 24 日簿记建档，并于 2024 年 4 月 26 日发行完毕。 本期债券发行规模为人民币 300 亿元，前 5 年票面利率为 2.42%，每 5 年调 整一次，在第 5 年及之后的每个付息日附发行人有 ...

Core Viewpoint - The banking sector has seen a significant rally, with multiple bank stocks reaching or nearing historical highs, driven by strong market sentiment and favorable regulatory developments [1] Group 1: Market Performance - On April 18, bank stocks collectively rose, continuing the upward trend from the previous day, with the banking index increasing by 1.09% [1] - CITIC Bank's stock price rose from 7.27 CNY per share on April 17 to 7.79 CNY per share on April 18, marking a notable increase [1] - Trading volumes surged, with CITIC Bank recording a transaction amount of 1.498 billion CNY on April 17 and 2.682 billion CNY on April 18, representing a 79% increase [1] Group 2: Influencing Factors - The recent issuance of a government document encouraging cash dividends for listed companies has positively influenced the banking sector, attracting more long-term investment [1] - Central Huijin Investment's recent purchase of 1.089 billion shares in the four major banks has provided additional support to the banking sector [1] - The release of better-than-expected quarterly data has enhanced market expectations for bank profitability, contributing to the rise in bank stocks [1] Group 3: Dividend Trends - Over 20 banks have disclosed their annual performance and dividend distributions, with major banks collectively surpassing 410 billion CNY in dividends for the first time, setting a new historical record [1] - All major banks reported a dividend payout ratio exceeding 30%, highlighting the importance of dividends in the recent stock price increases [1]

Core Viewpoint - The strong performance of CITIC Bank's stock, which has risen nearly 50% this year, reflects a broader positive trend in the A-share banking sector, driven by favorable policies and increased investor confidence [1][2]. Group 1: Stock Performance - CITIC Bank's stock price reached a high of 7.93 yuan on April 18, with a closing increase of 9.08%, marking a year-to-date increase of 49.91%, the highest among 42 A-share listed banks [1]. - Other banks, including Agricultural Bank of China and Bank of China, also saw their stock prices reach historical highs, with 29 listed banks experiencing a year-to-date increase of over 10% [2]. - A total of 10 banks, including CITIC Bank, reported stock price increases exceeding 20% this year [2]. Group 2: Financial Performance - CITIC Bank reported a revenue of 205.9 billion yuan in 2023, a decrease of 2.6% year-on-year, while net profit attributable to shareholders was 67.02 billion yuan, an increase of 7.91% [1]. - The bank plans to distribute a cash dividend of 17.43 billion yuan for 2023, the highest since its listing, with a dividend payout ratio of 28.01% [1]. Group 3: Market Confidence and Investment Trends - The recent strong performance of bank stocks is attributed to the introduction of new policies encouraging long-term value investment, which aligns with the characteristics of banks that offer high dividend yields [1]. - Significant share buybacks by major shareholders, including Central Huijin Investment, have bolstered investor confidence in bank stocks [3]. - A total of 13 listed banks have seen substantial share buybacks this year, indicating a positive market signal regarding stock valuations [3].

Core Viewpoint - The banking sector is experiencing a positive trend, with significant gains in bank stocks, particularly in state-owned banks, driven by favorable valuations and strong dividend yields [1] Summary by Sections Market Performance - On April 18, the Shanghai Composite Index briefly surpassed 3100 points, with the financial sector showing overall gains and bank stocks performing notably well [1] - Citic Bank reached its daily limit again, with a peak increase of over 6%, closing at 7.93 yuan per share, marking a 9.08% rise [1] - Other banks such as Ningbo Bank, Xi'an Bank, Ping An Bank, and Lanzhou Bank also saw increases exceeding 3% [1] - As of the close, 40 bank stocks, including Citic Bank, were in the green [1] Institutional Investment - The valuation of state-owned banks is viewed positively, with Huijin Investment recently increasing its holdings in the four major banks [1] - As of April 10, 2024, Huijin had cumulatively increased its holdings in major banks, acquiring over 1 billion shares across several banks, including 287 million shares of ICBC and 401 million shares of ABC [1] Dividend and Valuation Insights - The six major state-owned banks plan to distribute a total of 413.4 billion yuan in dividends for 2023, with a dividend payout ratio of 30% or more [1] - Changjiang Securities noted that low-valued dividend assets are being continuously allocated by the market, leading to a significant change in the valuation system of bank stocks [1] - Guosen Securities indicated that the current low valuation of the banking sector presents minimal downside risk, with potential for valuation recovery if the macro economy continues to improve [1] Investment Strategies - Wanlian Securities highlighted that the high dividend yield and low valuation of bank stocks make them a preferred choice for investors, especially amid rising defensive market demand [1] - The focus for selecting high-dividend stocks is shifting towards the stability of earnings, as the overall profit growth of the banking sector may have entered a bottoming phase [1]

银行/股份制银行Ⅱ 公 司 研 中信银行（601998.SH） 基本面稳中向好，业务支撑更趋多元 究 2024年04月18日 ——0417 中信银行跟踪更新 投资评级：买入（维持） 刘呈祥（分析师） 吴文鑫（联系人） liuchengxiang@kysec.cn wuwenxin@kysec.cn 日期 2024/4/17 证 书编号：S0790523060002 证书编号：S0790123060009 当前股价(元) 7.27  新时期聚力新打法，预计Q1经营业绩保持平稳 公 一年最高最低(元) 8.27/5.17 从基本面来看，中信银行近年依托集团协同优势、重视客户分层经营，在资产扩 司 信 总市值(亿元) 3,874.38 张、成本压降和改善资产质量方面亮点较多。2023 年归母净利润为 670 亿元 息 流通市值(亿元) 2,792.45 （YoY+7.91%），增速为已披露年报的上市股份行第二高，显示了较好的增长韧 更 总股本(亿股) 532.93 性。我们预计其Q1经营业绩保持平稳，维持中信银行2024-2026年盈利预测， 新 报 流通股本(亿股) 384.11 预计其归母净利润分别为 721 ...

中國‧北京 二零二四年四月十七日 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容 而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 998 董事會會議召開日期 中信銀行股份有限公司（「本行」）董事會（「董事會」）謹此宣佈，董事會將於二零二四年四 月二十九日（星期一）舉行董事會會議，以考慮及通過（包括其他事項）本行及其附屬公司 截至二零二四年三月三十一日止三個月的季度業績。 承董事會命 中信銀行股份有限公司 方合英 董事長 於本公告日期，本行執行董事為方合英先生（董事長）及劉成先生（行長）；非執行董事為 曹國強先生、黃芳女士及王彥康先生；及獨立非執行董事為廖子彬先生、周伯文先生、 王化成先生及宋芳秀女士。 ...

副行长、财务总监辞任公告 证券代码：601998 证券简称：中信银行 公告编号：临2024-023 中信银行股份有限公司 本行董事会谨此对王康先生担任本行有关职务期间为本行做出的贡献表示 衷心感谢。 特此公告。 中信银行股份有限公司董事会 2024年4月12日 本行董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 中信银行股份有限公司（简称"本行"）副行长、财务总监王康先生因工作 调整原因，于2024年4月12日向本行董事会提交辞呈，辞去其所担任的本行副行 长、财务总监职务。王康先生的辞任自辞呈送达本行董事会之日起生效。 王康先生兹确认，其本人与本行董事会、高级管理层无不同意见，亦无任何 事项须提请本行股东注意。王康先生确认其无任何针对本行，正在发生或将要发 生的诉讼和争议。 ...

证券代码：601998 证券简称：中信银行 公告编号：临 2024-022 中信银行股份有限公司 重要内容提示： 本次会议是否有否决议案：无 一、 会议召开和出席情况 (一) 股东大会召开的时间：2024 年 4 月 11 日 (二) 股东大会召开的地点：北京市朝阳区光华路 10 号院 1 号楼中信大厦 8 层 818 会议室 (三) 出席会议的普通股股东及其持有股份情况： 1、中信银行股份有限公司（以下简称"本行"）2024 年第一次临时股东大会 2024 年第一次临时股东大会、2024 年第一次 A 股类别股东 会及 2024 年第一次 H 股类别股东会决议公告 本行董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 | 1、出席会议的股东和代理人人数 | | 23 | | --- | --- | --- | | 其中：A | 股股东人数 | 17 | | 境外上市外资股股东人数（H | 股） | 6 | | 2、出席会议的股东所持有表决权的股份总数（股） | | 38,994,913,681 | | 其中：A | 股股东持有股份总 ...