Financial Data and Key Indicators Changes - The group achieved operating income of RMB 1.26 trillion, a year-on-year increase of 3.61%, with net fee income growing by 9.17% year on year [7] - Post-tax profit reached RMB 126.1 billion, with post-tax profit attributable to the bank's shareholders at RMB 117.6 billion, remaining stable year on year [7] - The NIM stood at 1.26%, ROA was 0.7%, and ROE was 9.11% [7] - Total assets reached RMB 36.79 trillion, an increase of 4.93% from the end of last year [8] - Total liabilities amounted to RMB 33.66 trillion, an increase of 4.85% from the end of last year [8] - The NPL ratio was 1.24, down by 0.01 percentage points from the end of last year, with an NPL coverage ratio of 197.39% [10][11] Business Line Data and Key Indicators Changes - The number of medium-sized corporate credit customers increased by 13.48% from the end of last year, and the proportion of mid-high-end individual customers rose by 0.16 percentage points [9] - Loans directed to the manufacturing sector grew by 12.99% from the end of last year, and loans to strategic emerging industries increased by 22.92% [13] - Personal consumption loans grew by 15.42%, and loans to private enterprises increased by 12.93% from the end of last year [14] Market Data and Key Indicators Changes - The volume of international settlement handled by domestic institutions exceeded $2.1 trillion, up 16.5% year on year [17] - The total transaction volume of cross-border e-commerce increased by 42.1% year on year [18] - The number of direct and indirect participants in the cross-border interbank payment systems remained the highest among peers [18] Company Strategy and Development Direction and Industry Competition - The company aims to optimize financial supply and improve its diverse product and service system while supporting domestic demand expansion and investment stabilization [23][24] - The focus will be on enhancing global layout capabilities and international competitiveness, particularly in Belt and Road cooperation [24][25] - The company plans to strengthen asset quality management and enhance forward-looking control of market risk [25] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges posed by a low-interest environment and emphasized the need to improve asset and liability structure while expanding non-interest income [39][41] - The company is confident in maintaining high-quality and stable development of assets in 2025, despite pressures from the real estate market and retail business [78] - Management highlighted the importance of leveraging global advantages to offset risks from the external environment [40][72] Other Important Information - The company completed the replenishment of RMB 165 billion in core Tier one capital, laying a solid foundation for medium to long-term development [11][12] - The interim dividend for 2025 was proposed at RMB 1.094 per 10 shares, totaling RMB 35.25 billion, maintaining a payout ratio of 30% [12] Q&A Session All Questions and Answers Question: How does the management evaluate performance in the first half of the year? - Management highlighted steady financial benefits, growth in assets and liabilities, effective risk control, and improved customer quality as key areas of performance [30][31] Question: What are the core drivers of non-interest income growth in the first half of the year? - Non-interest income reached RMB 114.6 billion, driven by wealth management income, corporate settlement fees, and contributions from financial market opportunities [50][51] Question: Can you provide an outlook on the NIM trend in the second half of the year? - Management expects continued pressure on NIM due to the low-interest environment but plans to optimize deposit management and enhance foreign currency investments [69][70] Question: What is the outlook for asset quality and credit strategy? - The NPL ratio remains stable, with management focusing on proactive credit risk management and supporting key industries while addressing structural conflicts [75][79] Question: Will BOC adjust its credit growth plan after the capital injection? - Management indicated that the capital injection will enhance credit supply capabilities, focusing on technology finance, infrastructure projects, and green finance [84][86]

Financial Data and Key Indicators Changes - The group achieved operating income of RMB 1,000 billion, a year-on-year increase of 3.61%, with net fee income growing 9.17% year on year [6] - Post-tax profit reached RMB 126.1 billion, with post-tax profit attributable to the bank's shareholders at RMB 117.6 billion, remaining stable year on year [6] - The NIM stood at 1.26%, ROA was 0.7%, and ROE was 9.11% [6] - Total assets reached RMB 36.79 trillion, an increase of 4.93% from the end of last year [7] - Total liabilities amounted to RMB 33.66 trillion, an increase of 4.85% from the end of last year [7] - The NPL ratio was at 1.24, down by 0.01 percentage points from the end of last year [9] Business Line Data and Key Indicators Changes - The number of medium-sized corporate credit customers increased by 13.48% from the end of last year [9] - Loans directed to the manufacturing sector grew by 12.99% from the end of last year, and loans to strategic emerging industries increased by 22.92% [11] - Personal consumption loans grew by 15.42% [11] - The balance of inclusive loans for SMEs reached RMB 2.65 trillion, with the number of borrowing enterprises surpassing 1.72 million [14] Market Data and Key Indicators Changes - The volume of international settlement handled by domestic institutions exceeded $2.1 trillion, up 16.5% year on year [15] - The total transaction volume of cross-border e-commerce increased by 42.1% year on year [16] - The number of direct and indirect participants in cross-border interbank payment systems remained the highest among peers [16] Company Strategy and Development Direction - The company aims to optimize financial supply and improve its diverse product and service system while supporting domestic demand expansion and investment stabilization [21][22] - BOC will leverage its global presence to enhance international competitiveness and support key regions of Belt and Road cooperation [22] - The focus will be on risk prevention and control, enhancing asset quality management, and accelerating digital transformation [23] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges posed by a low-interest environment and emphasized the need to improve asset and liability structure while expanding non-interest income [36] - The company is confident in maintaining high-quality and stable development of assets in 2025, despite pressures from the real estate market and retail loans [77] - Management highlighted the importance of leveraging global advantages to offset risks from the external environment [39] Other Important Information - The bank completed the replenishment of RMB 165 billion in core Tier one capital, with the core Tier one CAR and CAR reaching 12.57% and 18.67%, respectively [10] - The interim dividend for 2025 was proposed at RMB 1.094 per 10 shares, totaling RMB 35.25 billion, maintaining a payout ratio of 30% [10] Q&A Session Summary Question: How does management evaluate performance in the first half of the year? - Management highlighted steady financial benefits, growth in assets and liabilities, and effective risk control as key areas of performance [29] Question: What are the core drivers of non-interest income growth in the first half of the year? - Non-interest income reached RMB 114.6 billion, driven by wealth management income, corporate settlement fees, and trading income [49][50] Question: What is the outlook for NIM in the second half of the year? - NIM is expected to face narrowing pressures due to the low-interest environment, but the bank will optimize its asset-liability structure to mitigate these effects [67] Question: What is the outlook for asset quality and credit strategy? - The NPL ratio remains stable, with management focusing on proactive credit risk management and supporting key industries while addressing structural conflicts [74][80] Question: Will BOC adjust its credit growth plan after the capital injection? - The bank plans to maintain steady credit growth while focusing on technology finance, infrastructure projects, and green finance [82][84]

今日工商银行、农业银行、中国银行、建设银行、邮储银行、交通银行等六大国有行纷纷披露了半年报。 工商银行半年报显示，公司上半年实现营业收入4091亿元，同比增长1.8%；归母净利润1681.0亿元人民币，同比下降1.4%。 农业银行半年报显示，公司上半年实现营业收入3697.93亿元，同比增长0.7%；净利润1399.43亿元，同比增长2.5%。 邮储银行半年报显示，公司上半年实现营业收入达到1794.46亿元，同比增长1.5%；归属于银行股东的净利润492.28亿元，同比增长 0.85%。 交通银行半年报显示，上半年，集团实现营业收入1333.68亿元、归属于母公司股东净利润460.16亿元，同比分别增长0.77%、1.61%。 中国银行半年报显示，公司上半年实现净利润1175.9亿元人民币，同比下降0.9%；营业收入3294.18亿元，税后利润1261.38亿元。 建设银行半年报显示，公司上半年实现经营收入3859.05亿元，同比增长2.95%；净利润1626.38亿元，同比下降1.45%。 ...

Core Viewpoint - China Bank's mid-year performance for 2025 shows stable financial benefits with a year-on-year revenue increase of 3.61% and a net profit of 126.1 billion yuan, indicating a positive trend compared to the first quarter [1] Financial Performance - The group achieved an operating income of 329.4 billion yuan, with net fee income growing by 9.17% year-on-year [1] - After-tax profit reached 126.1 billion yuan, with after-tax profit attributable to shareholders at 117.6 billion yuan, maintaining stability and showing improvement [1] - Key financial ratios include a net interest margin of 1.26%, average return on assets (ROA) of 0.70%, return on equity (ROE) of 9.11%, and a cost-to-income ratio of 25.11%, all within reasonable ranges [1] Asset and Liability Management - Total assets amounted to 36.79 trillion yuan, reflecting a year-on-year growth of 4.93% [1] - Total liabilities reached 33.66 trillion yuan, with a growth of 4.85% compared to the end of the previous year [1] - The proportion of high-yield assets such as loans and bond investments increased by 2.32 percentage points, while the share of customer deposits in total liabilities rose by 0.78 percentage points [1] Asset Quality - The bank has strengthened asset quality management, with a non-performing loan (NPL) ratio of 1.24% as of June, a decrease of 0.01 percentage points from the beginning of the year [1] - The NPL coverage ratio stands at 197.39%, indicating robust provisions against potential loan losses [1] Loan Growth and Sector Focus - As of June, domestic RMB loans increased by 1.41 trillion yuan, a growth of 7.72% year-to-date [2] - Loans for equipment upgrades exceeded 90 billion yuan, with loans to the manufacturing sector growing by 12.99% year-on-year and loans to strategic emerging industries increasing by 22.92% [2] - Loans to private enterprises increased by 572 billion yuan, reflecting a growth rate of 12.93%, while personal consumption loans grew by 15.42% [2] International Operations - The bank processed international settlement amounts of 2.1 trillion USD and cross-border RMB settlements of 8.5 trillion yuan, representing year-on-year growth of 16.51% and 17.47%, respectively [2] - The bank has enhanced its cross-border e-commerce settlement services, with total transaction volume increasing by 42.10% year-on-year [2]

人民财讯8月29日电，中国银行(601988)8月29日晚间披露半年报，2025年上半年，公司实现营业收入 3290.03亿元；归属于上市公司股东的净利润1175.91亿元，去年同期净利润为1186.01亿元，同比下降 0.85%；基本每股收益0.36元。董事会建议派发2025年度中期普通股股利每10股1.094元人民币（税 前），须待股东大会批准后生效。上半年，集团业务平稳发展，资产负债稳步增长，财务效益表现稳 健，主要指标保持合理区间。 转自：证券时报 ...

中国银行股份有限公司 股票代码：601988 2025 年半年度报告 目录 | 释义 | | --- | | 重要提示 . | | 公司基本情况 . | | 财务摘要 . | | 经营情况概览 . | | 管理层讨论与分析 . | | 财务回顾 | | 经济与金融环境 | | 利润表主要项目分析. | | 资产负债表项目分析 | | 现金流量分析 | | 分部信息 | | 公允价值计量 | | 其他财务信息 .. | | 业务回顾 | | 扎实做好"五篇大文章" . | | 境内商业银行业务 | | 全球化经营业务 | | 综合化经营业务 .. | | 服务渠道. | | 金融科技创新 : | | 风险管理 | | 信用风险管理 | | 市场风险管理. | | 银行账簿利率风险管理. | | 流动性风险管理. | | 操作风险管理 | | 国别风险管理. | | 声誉风险管理 .. | | 战略风险管理 .. | | 信息科技风险管理. | | 内部控制与合规管理 | | 资本管理 . | | 资本充足率情况. . | | 杠杆率情况 | | 展望 | 1 | 环境、社会和治理 . | | --- | | 环 ...

Fund Overview - The fund is named "Huaxia Industry Selected Mixed Securities Investment Fund (LOF)" and is managed by Huaxia Fund Management Co., Ltd. [3] - The fund's total shares at the end of the reporting period amounted to 930,562,058.82 shares [3]. - The fund operates as a contract-based open-end fund and was established on November 22, 2007 [3]. Financial Performance - The fund's net asset value at the end of the reporting period was 1,036,088,500.59 RMB, with a net asset value per share of 1.113 RMB [4][21]. - The fund achieved a profit of 7,542,992.57 RMB during the reporting period, with a realized income of -100,117.39 RMB [4][22]. - The weighted average net value profit rate for the period was 0.72%, and the cumulative net value growth rate since inception is 71.80% [4][22]. Investment Strategy - The fund focuses on industry investment value assessment and aims to capture investment opportunities across different economic cycles by selecting quality stocks within advantageous industries [3][4]. - The investment strategy includes asset allocation, stock investment, bond investment, and warrant investment, with a performance benchmark of the CSI 300 Index for stock investments and the Shanghai Government Bond Index for bond investments [3][4]. Market Outlook - The fund manager noted that the U.S.-initiated tariff war has not significantly impacted China's exports, which remain resilient [15]. - The fund has adjusted its portfolio by reducing exposure to the automotive sector while increasing investments in the artificial intelligence sector, particularly in hardware, due to its growth potential [15][16]. Management and Governance - Huaxia Fund Management Co., Ltd. is one of the first national fund management companies approved by the China Securities Regulatory Commission, established in April 1998 [8]. - The fund management adheres to strict compliance with relevant laws and regulations, ensuring fair treatment of all funds managed [14][19].

Core Insights - The report by the China Banking Association outlines the progress of RMB internationalization and the development of cross-border RMB business since 2023, highlighting new opportunities and strategies for commercial banks to promote RMB usage [1] Group 1: RMB Internationalization Progress - The RMB is increasingly used for cross-border settlements and financing, with a steady rise in its internationalization level driven by both policy guidance and market forces [1] - Cross-border RMB business has maintained rapid growth, enhancing the RMB's global payment capabilities [1] - The RMB's position in global trade financing has significantly improved, with a notable increase in the scale of Hong Kong Stock Connect and Bond Connect transactions [1] - By the end of 2024, foreign institutions and individuals are expected to hold RMB assets totaling 7.12 trillion yuan, a year-on-year increase of 9.4% [1] Group 2: Strategies for Promoting RMB Usage - Commercial banks are focusing on key sectors, regions, and enterprises to enhance cross-border RMB usage, particularly in large commodity trade and overseas engineering projects [2] - There is an emphasis on expanding RMB usage in new trade formats, with banks enhancing financial support for cross-border e-commerce and other emerging business models [2] - Support is being provided for the development of free trade zones and international financial centers, optimizing product offerings and customer services to promote high-standard economic and trade development [2] - Banks are offering diverse RMB cross-border settlement products to help enterprises mitigate exchange rate risks and reduce financing costs [2] Group 3: Recommendations for Banks - The report suggests that banks should refine cross-border RMB facilitation policies and optimize management systems for key business areas related to RMB internationalization [3] - Continuous improvement of the offshore RMB market is recommended to further support the internationalization process [3]

Core Viewpoint - China Bank reported a stable performance in the first half of 2025, with a slight increase in revenue but a decrease in net profit, indicating a mixed financial outlook for the bank [1] Financial Performance - Operating income reached 329.42 billion yuan, a year-on-year increase of 3.61% [1] - Net profit attributable to shareholders was 117.59 billion yuan, a decrease of 0.85% year-on-year [1] - Total assets amounted to 36,790.61 billion yuan, growing by 4.93% compared to the end of the previous year [1] - Total liabilities were 33,664.95 billion yuan, an increase of 4.85% from the end of the previous year [1] - Average return on total assets (ROA) was 0.70%, and return on equity (ROE) was 9.11% [1] Credit and Loan Growth - Domestic RMB loans increased by 1.41 trillion yuan, a growth of 7.72% year-on-year [2] - Loans to the manufacturing sector grew by 12.99% compared to the end of the previous year [2] - Loans to private enterprises increased by 12.93% year-on-year [2] Financial Services and Support - The bank is actively supporting high-quality economic development through optimized financial services [2] - It has enhanced its support for the real estate market to stabilize and meet housing demands [2] Risk Management - The non-performing loan ratio was 1.24%, a decrease of 0.01 percentage points from the end of the previous year [5] - The non-performing loan provision coverage ratio was 197.39% [5] - Capital adequacy ratio reached 18.67% as of June [5] Digital Transformation - The bank has accelerated its digital transformation, with a total of 40,000 cloud platform servers [6] - The application of artificial intelligence has been expanded across over 100 scenarios [6] International Operations - The bank's international settlement volume reached 2.1 trillion USD, a year-on-year increase of 16.51% [4] - The bank maintains a leading position in cross-border RMB clearing volume [4]

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分內容而產生或因倚 賴該等內容而引致之任何損失承擔任何責任。 中國銀行股份有限公司 BANK OF CHINA LIMITED （於中華人民共和國註冊成立的股份有限公司） （「本行」） （股份代號：3988） 海外監管公告 董事會 中國，北京 2025年8月29日 於本公告日期，本行董事為葛海蛟、張輝、劉進、張勇*、黃秉華*、劉輝*、師永彥*、 樓小惠*、李子民*、讓•路易•埃克拉 # 、喬瓦尼•特里亞 # 、劉曉蕾 # 、張然 # 、高美懿 # 。 * 非執行董事 # 獨立非執行董事 证券代码：601988 证券简称：中国银行 公告编号：临 2025-069 中国银行股份有限公司向特定对象发行 A 股股票 募集资金存放、管理与实际使用情况专项报告 根據中華人民共和國（「中國」）的有關法例規定，本行在上海證券交易所網站及中 國報章刊登了《中國銀行股份有限公司向特定對象發行A股股票募集資金存放、管 理與實際使用情況專項報告》。茲載列如下，謹供參閱。 中國銀行股份有限 ...