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十 月三十日（星期三）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 至二零二四年九月三十日止九個月的季度業績。 承董事會命 中信銀行股份有限公司 方合英 董事長 中國‧北京 二零二四年十月十七日 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。 ...

Investment Rating - The investment rating for China CITIC Bank Corporation Limited is Equal-weight with a price target of HK$4.50 [1][2]. Core Insights - The report indicates stable business growth with an improved risk profile and business restructuring for China CITIC Bank [2]. - Earnings forecasts have been revised following the 2Q24 results, with net interest margin (NIM) forecasts adjusted to 1.76% for 2024, 1.74% for 2025, and 1.78% for 2026 [1]. - Loan growth and deposit growth forecasts have been revised down to 3.5%/3.1%/3.1% and 3.6%/3.4%/3.4% for 2024/25/26 respectively, while non-performing loan (NPL) ratio forecasts have been slightly increased to 1.19%/1.21%/1.27% for the same period [1]. - The bank is expected to deliver net profit growth of 1.2% in 2024, 3.3% in 2025, and 7.7% in 2026, with EPS estimates adjusted down by 0.5%/0.8% for 2024/25 and up by 1.8% for 2026 [1]. Summary by Sections Earnings Inputs - Net interest margin is projected at 1.76% for 2024, total asset growth at 2.9%, credit cost at 1.05%, and cost-income ratio at 33.3% [5][6]. Investment Drivers - The report highlights gradual improvement in asset quality and cooperation within the Citic Group as key investment drivers [7]. - The bank's focus on innovative online products and stable business growth are also noted as positive factors [7]. Price Target and Valuation - The price target of HK$4.50 is derived using a dividend discount model (DDM) based on long-term dividend forecasts [2][3]. - The report indicates a consensus price target distribution with a mean target of HK$4.47 and a maximum of HK$7.45 [3].

Investment Rating - The report assigns a "Buy" rating to the company, indicating an expected relative increase of over 15% compared to the CSI 300 index in the next six months [5]. Core Insights - The company's H1 2024 performance shows a revenue of 1090.19 billion CNY, a year-on-year increase of 2.68%, while the net profit attributable to shareholders is 354.90 billion CNY, a decrease of 1.60% [2]. - The average return on equity stands at 10.83%, down by 1.49 percentage points year-on-year, reflecting stable operational efficiency and steady growth in business scale [2]. - The net interest margin for H1 2024 is reported at 1.77%, an increase of 7 basis points from the end of the previous year, indicating a recovery in interest margins [2][3]. - The company’s total loans and advances reached 5.59 trillion CNY, up 1.73% from the end of the previous year, with customer deposits totaling 5.51 trillion CNY, an increase of 2.16% [2]. Financial Performance Summary - For H1 2024, the company achieved a net interest income of 726.08 billion CNY, with a year-on-year increase of 0.82%, accounting for 66.8% of total revenue [2]. - Non-interest income was 360.32 billion CNY, reflecting a year-on-year growth of 10.26%, primarily driven by strong investment returns from bonds and bills [2]. - The company’s non-performing loan balance is 665.80 billion CNY, with a non-performing loan ratio of 1.19%, showing a slight increase of 1 basis point from the end of the previous year [2][3]. Future Projections - The report forecasts revenue growth rates of 3.30%, 4.86%, and 5.25% for the years 2024, 2025, and 2026, respectively [3]. - Net profit is expected to grow by 1.50%, 3.45%, and 3.99% over the same period [3]. - The book value per share (BVPS) is projected to be 15.60, 17.17, and 19.23 CNY for the years 2024, 2025, and 2026, respectively [3].

| 证券代码：601998 | 证券简称：中信银行 | 公告编号：临 | 2024-054 | | --- | --- | --- | --- | | 转债代码：113021 | 转债简称：中信转债 | | | 中信银行股份有限公司 关于可转债转股结果暨股份变动的公告 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。 重要内容提示： 二、中信转债本次转股情况 截至2024年9月30日，累计已有人民币27,773,688,000元中信转债转为本行A股普通 股，累计转股股数为4,553,013,961股，占中信转债转股前本行已发行普通股股份总额的 9.304246%。其中，自2024年7月1日至2024年9月30日期间，共有人民币180,434,000元 中信转债转为本行A股普通股，转股股数为31,270,946股。 截至2024年9月30日，尚未转股的中信转债金额为人民币12,226,312,000元，占中信 转债发行总量的比例为30.565780%。 三、股本变动情况 一、中信转债的发行上市概况 经中国证券监督管理委员会《关于核准 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00998 | 說明 | H股 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 14,882,162,977 | RMB | | 1 | RMB | | 14,882,162,977 | | 增加 / 減少 (-) | | | 0 | | | | RMB | | 0 | | 本月底結存 | | | 14,882,162,977 | RMB | | 1 | RMB | | 14,882,162,977 | | 2. 股份分類 | 普通股 | 股份類別 | A | | 於香港聯交所上市 (註1) | | 否 | | | --- | --- | --- | ...

Financial Performance - The bank reported a total operating income of RMB 108.64 billion and a net profit of RMB 35.49 billion for the first half of 2024, representing a revenue growth rate of 2.60%[9]. - Operating income for the first half of 2024 reached RMB 108,640 million, a 2.60% increase from RMB 105,885 million in the same period of 2023[15]. - Total profit for the first half of 2024 was RMB 43,751 million, reflecting a growth of 3.27% compared to RMB 42,367 million in the first half of 2023[15]. - Net profit attributable to shareholders for the first half of 2024 was RMB 35,490 million, a decrease of 1.60% from RMB 36,067 million in the same period of 2023[15]. - The net cash flow from operating activities for the first half of 2024 was RMB (341,909) million, a significant decline compared to RMB (123,018) million in the first half of 2023, marking a 177.93% increase in outflow[15]. - Basic earnings per share for the first half of 2024 was RMB 0.66, down 5.71% from RMB 0.70 in the same period of 2023[15]. - Total assets of the bank reached RMB 9,104.62 billion, with an average return on total assets (ROAA) of 0.79% and an average return on equity (ROAE) of 10.83%[9]. - The average return on total assets (ROAA) for the first half of 2024 was 0.79%, a decrease of 0.06 percentage points from 0.85% in the first half of 2023[16]. - The average return on equity (ROAE) for the first half of 2024 was 10.83%, down 1.49 percentage points from 12.32% in the same period of 2023[16]. Asset Quality - The non-performing loan ratio stood at 1.19%, with a provision coverage ratio of 206.76% and a loan provision ratio of 2.46%[9]. - The non-performing loan ratio stood at 1.19%, slightly up from 1.18% as of December 31, 2023[21]. - The provision coverage ratio was 206.76%, down from 207.59% as of December 31, 2023[21]. - The non-performing loan balance was CNY 66.58 billion, an increase of CNY 1.78 billion or 2.75% year-on-year[36]. - The migration rate of normal loans to non-performing loans was 0.73%, a decrease of 0.90 percentage points compared to the end of the previous year[140]. - The group’s non-performing loans were mainly concentrated in the Bohai Rim, Western, and Pearl River Delta regions, accounting for 65.73% of total non-performing loans[128]. Customer Base and Deposits - The bank has a customer base of 141 million personal customers and 1.2136 million corporate customers, with online monthly active users totaling 38.6176 million[9]. - Customer deposits totaled 5,514,879 million, marking a 2.16% increase from December 31, 2023[19]. - The total amount of customer deposits (excluding accrued interest) was RMB 5,514.88 billion, an increase of RMB 1,166.96 billion, or 2.16%, compared to the end of the previous year[110]. - The average daily balance of personal deposits was CNY 1,323.99 billion, reflecting a year-on-year growth of 7.53%[171]. - The bank's personal deposit balance reached CNY 1,384.56 billion, an increase of CNY 79.61 billion, representing a growth of 6.10% compared to the end of the previous year[171]. Strategic Initiatives - The bank aims to implement a "Five Leading" banking strategy, focusing on wealth management, comprehensive financing, transaction settlement, foreign exchange services, and digital banking[8]. - The bank aims to enhance its financial services by implementing a differentiated service model targeting corporate and individual clients[30]. - The group is focusing on enhancing wealth management capabilities, aiming to become a leading wealth management bank[185]. - The company is implementing differentiated financial services for key customer segments, including retirement and overseas financial services[187]. - The company has developed a comprehensive financial service plan for high-end clients, integrating private banking and credit card services[189]. Risk Management - The bank has not identified any significant risks that could adversely affect its future development strategy and operational goals during the reporting period[5]. - The group has strengthened risk classification management and improved the risk classification system to reflect asset quality accurately[118]. - The group anticipates challenges from external environments and insufficient domestic demand, preparing for potential changes in loan quality[120]. - The group is actively managing risks associated with personal housing loans and local government debts, ensuring overall risk remains controllable[181][182]. Income Composition - Net interest income was CNY 72.61 billion, a year-on-year decrease of 0.82%[36]. - Non-interest income reached CNY 36.03 billion, a year-on-year increase of 10.26%[36]. - Non-interest income increased by RMB 3.35 billion, showing a growth of 10.26% year-on-year, contributing to 33.2% of total revenue[41]. - The group's income tax expense for the reporting period was CNY 7.88 billion, an increase of CNY 2.22 billion or 39.22% year-on-year, with an effective tax rate of 18.01%, up 4.65 percentage points from the previous year[79]. Capital and Liquidity - Core Tier 1 capital adequacy ratio was 9.43%, exceeding the regulatory minimum of 8.00%[23]. - The liquidity coverage ratio was 151.58%, well above the required minimum of 100%[23]. - The capital adequacy ratio as of June 30, 2024, was 13.69%, meeting regulatory requirements[153]. - The core tier 1 capital adequacy ratio improved to 9.43% from 8.99% at the end of 2023[155]. - The leverage ratio increased to 7.39% as of June 30, 2024, compared to 6.66% at the end of 2023[156]. Operational Efficiency - The cost-to-income ratio for the first half of 2024 was 27.46%, an increase of 0.82 percentage points from 26.64% in the first half of 2023[16]. - The group reported a total of RMB 30.96 billion in operating expenses, an increase of RMB 1.71 billion, or 5.85% year-on-year, with the cost-to-income ratio (excluding taxes and surcharges) rising to 27.46%, up 0.82 percentage points year-on-year[73]. Digital Transformation - The company is committed to building a leading digital bank by integrating technology and business operations[200]. - The company has established a digital operating platform for all customer segments, enhancing precision marketing and collaboration across channels[190]. - The company launched a standardized product management evaluation system for private banking, enhancing the integrated management of retail customer operations[190].

（於中華人民共和國註冊成立的股份有限公司） 股份代號：0998 年中期報告 2024 本中期報告由可循環再造紙印刷 地址 : 北京市朝陽區光華路10號院1號樓6-30層、32-42層 郵編 : 100020 投資者熱線 : +86-10-66638188 投資者電子信箱 : ir@citicbank.com 網址 : www.citicbank.com 中信銀行股份有限公司年中期報告 2024 重要提示 本行董事會、監事會及董事、監事、高級管理人員保證本行2024年半年度報告內容的真實、準確、完整，不存在虛假記 載、誤導性陳述或重大遺漏，並承擔個別和連帶的法律責任。 本行董事會會議於2024年8月28日審議通過了本行2024年半年度報告全文及摘要，會議應出席董事9名，實際出席董事9 名。本行監事和高級管理人員列席了本次會議。 中期利潤分配預案：本報告第三章「公司治理－ 2024年中期利潤分配」披露了經董事會審議通過的，擬提交臨時股東大會審 議的2024年中期普通股利潤分配方案，每10股派發現金股息1.847元人民幣（含稅），按截至2024年6月30日本行A股和H股總 股本數53,456,539,588股計算， ...

证券研究报告 2024 年 09 月 20 日 湘财证券研究所 公司研究 中信银行（601998.SH） 战略路径清晰，经营保持稳健 核心要点： 公司特色：股东实力雄厚，战略路径清晰 公司评级：增持（首次覆盖） % 1 个月 3 个月 12 个月 相对收益 -5.36 4.25 22.37 绝对收益 -9.83 -5.61 8.11 注：相对收益与沪深 300 相比 地址：上海市浦东新区银城路88号 中国人寿金融中心10楼 中信银行背靠中信集团，集团"金融+实业"多元布局，具有业务协同优 势。中信银行从对公业务起家，逐步走向零售业务与对公业务并行发展， 再到对公、零售、金融市场业务"三驾齐驱"。中信银行在 2024 年开启的 新三年规划中提出实施"五个领先"银行战略，致力于打造差异化的中信 金融服务模式。 业务发展：打造"五个领先"银行，提升价值创造能力 财富管理方面，中信银行通过全量客户数字化经营平台，加强了客户、产 品与各渠道之间的精准适配和协同效能，构建覆盖客户全生命周期的专业 服务。2021 年以来，中信银行财富管理业务规模实现稳健增长。截至 2024 年中期末，零售管理资产规模达到达 4.42 万亿 ...

董事会同意聘任谷凌云先生为本行副行长，自监管机构核准其副行长任职资 格之日起正式就任。本行独立董事廖子彬、周伯文、王化成、宋芳秀关于该议案 的独立意见请见附件1。谷凌云先生简历请见附件2。 董事会提名与薪酬委员会全体委员已审议通过上述议案，并同意将其提交董 事会审议。 证券代码：601998 证券简称：中信银行 公告编号：临2024-053 中信银行股份有限公司董事会会议决议公告 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。 中信银行股份有限公司（以下简称"本行"）于2024年9月12日以书面形式 发出有关会议通知和材料，于2024年9月19日在北京市朝阳区光华路10号院1号楼 中信大厦以现场会议形式完成一次董事会会议召开并形成决议。本次会议应出席 董事9名，实际出席董事9名，其中，周伯文独立董事因公务委托廖子彬独立董事 代为出席并表决，黄芳、王彦康、廖子彬、王化成、宋芳秀等5名董事以视频方 式参加会议。本次会议由方合英董事长主持，本行监事和高级管理人员列席了会 议。会议的召开符合《中华人民共和国公司法》等有关法律、行政法规、 ...

（根据录音整理） 会议时间：2024 年 3 月 22 日 9:30-11:30 会议形式：现场会议+网络视频直播 行内参会人员：方合英董事长、刘成行长、胡罡副行长、吕天 贵副行长、陆金根业务总监、张青董事会秘书、 相关部门及子公司负责人 外部参会人员：投资者、分析师、新闻媒体记者、社会公众 记录人：中信银行董事会办公室投资者关系管理团队 前瞻性陈述的风险提示：本报告中涉及的未来计划、发展战略 等前瞻性陈述不构成本行对投资者的实质承诺，投资者及相关 人士均应当对此保持足够的风险认识，并且应当理解计划、预 测与承诺之间的差异。 【提问 1】广发证券王先爽：感谢管理层给我第一个提问 机会，这个问题是提给董事长的，我记得去年贵行业绩发布会 口号是"越向前，越精彩"，今年的业绩也在一定程度上兑现 了您的指引，想问下董事长，过去一年您觉得贵行经营上最大 的亮点是什么？今年业绩发布会口号变成了"新征程，信未 来"，我们也看到贵行发布了新三年发展规划，想问下您对未 来中信银行的发展有哪些新思考？在这种新环境下，贵行有 哪些新策略和新打法来应对？谢谢！ 1 方合英董事长：谢谢你的持续关注，也谢谢你的问题。先 回答前半个问题， ...