2024 年第三次临时股东大会会议资料 中国工商银行股份有限公司 2024 年第三次临时股东大会会议资料 2024 年第三次临时股东大会会议资料 会议日程 现场会议召开时间：2024 年 11 月 28 日 14 时 50 分 现场会议召开地点：北京市西城区复兴门内大街 55 号中国工商银行股份 有限公司总行 网络投票：采用上海证券交易所网络投票系统，通过交易系统投票平台 的投票时间为股东大会召开当日的交易时间段，即 9:15-9:25、 9:30-11:30、13:00-15:00；通过互联网投票平台的投票时间为 股东大会召开当日的 9:15-15:00。 召集人：中国工商银行股份有限公司董事会 | 关于 | 2024 年度中期利润分配方案的议案 1 | | --- | --- | | | 关于选举李伟平先生为中国工商银行股份有限公司独立董事的议案 2 | | | 关于西安数据中心建设项目的议案 11 | | 关于 | 2025 年度集团金融债券发行计划的议案 12 | | 关于 | 2023 年度董事薪酬清算方案的议案 13 | | 关于 | 2023 年度监事薪酬清算方案的议案 16 | 2024 年第 ...

此乃要件 請即處理 如 閣下對本通函的任何部份或對應採取的行動存有任何疑問，應諮詢 閣下的持牌證券 商、銀行經理、律師、專業會計師或其他專業顧問。 如 閣下已出售或轉讓名下所有中國工商銀行股份有限公司的股份， 閣下應將本通函同 隨附之代表委任表格及回執立刻交予購買人或受讓人或經手買賣或轉讓的銀行、持牌證券 商或其他代理人以轉交給購買人或受讓人。 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通函的內容概不負責，對其準 確性或完整性亦不發表任何聲明，並明確表示，概不就因本通函全部或任何部份的內容所 產生或因倚賴該等內容而導致的任何損失承擔任何責任。 中國工商銀行股份有限公司 INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED （於中華人民共和國註冊成立的股份有限公司） 股份代號：1398 美元優先股股份代號：4620 2024 年第三次臨時股東大會通知 中國工商銀行股份有限公司謹訂於2024年11月28日（星期四）下午二時五十分假座中國北京 市西城區復興門內大街55號中國工商銀行總行舉行臨時股東大會，大會通知載於本通函的 第13頁至第14頁。 如 閣下欲委任代表 ...

证券代码：601398 证券简称：工商银行 公告编号：临 2024-055 号 中国工商银行股份有限公司 关于召开 2024 年第三次临时股东大会的通知 中国工商银行股份有限公司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： 一、 召开会议的基本情况 （一） 股东大会类型和届次 2024 年第三次临时股东大会 召开的日期时间：2024 年 11 月 28 日 14 点 50 分 召开地点：北京市西城区复兴门内大街 55 号本行总行 （五） 网络投票的系统、起止日期和投票时间 网络投票系统：上海证券交易所股东大会网络投票系统 1 股东大会召开日期：2024年11月28日 本次股东大会采用的网络投票系统：上海证券交易所股东大会网络投票 系统 （二） 股东大会召集人：中国工商银行股份有限公司（简称本行）董事会 （三） 投票方式：本次股东大会所采用的表决方式是现场投票和网络投票相结 合的方式 （四） 现场会议召开的日期、时间和地点 网络投票起止时间：自 2024 年 11 月 28 日 至 2024 年 11 月 28 日 ...

Investment Rating - The report maintains a "Recommended" rating for the company [4]. Core Views - The company's performance shows signs of recovery with both revenue and net profit growth returning to positive territory in Q3 2024. For the first nine months of 2024, the company achieved operating revenue of 626.42 billion yuan, a year-on-year decline of 3.82%, while net profit attributable to shareholders reached 269.03 billion yuan, a slight increase of 0.13% year-on-year. The annualized average ROE stands at 9.77%, down 0.79 percentage points year-on-year. In Q3 2024, revenue and net profit grew by 1.05% and 3.82% year-on-year, respectively, indicating a positive trend [1][2][3]. Summary by Sections Financial Performance - For the first nine months of 2024, the company reported a net interest income of 476.73 billion yuan, a year-on-year decrease of 4.94%. In Q3 2024, the decline narrowed to 1.07% year-on-year, benefiting from optimized funding costs. The annualized net interest margin for the first nine months of 2024 is 1.43%, consistent with the first half of 2024. Total loans increased by 7.7% compared to the end of the previous year, with corporate loans being the main growth driver, rising by 8.43% [1][2]. Non-Interest Income - Non-interest income for the first nine months of 2024 was 149.69 billion yuan, a slight year-on-year decline of 0.03%. The decline in intermediary business income was 8.98%, while other non-interest income grew by 17.53% year-on-year, primarily driven by significant increases in fair value changes [2][3]. Asset Quality and Capital Adequacy - As of September 2024, the non-performing loan ratio was 1.35%, down 1 basis point from the end of the previous year. The provision coverage ratio increased to 220.3%, up 6.33 percentage points year-on-year, indicating improved asset quality and risk resilience. The core Tier 1 capital adequacy ratio stood at 13.95%, up 23 basis points from the end of the previous year, reflecting a strong capital position compared to peers [2][3]. Investment Outlook - The company is one of the major state-owned banks with leading scale and market share, demonstrating strong operational resilience. The report emphasizes steady credit expansion and structural transformation, with ongoing reforms enhancing high-quality development capabilities. The stable dividend yield suggests sustainable long-term shareholder returns. The projected BVPS for 2024-2026 is 10.31 yuan, 11.08 yuan, and 11.87 yuan, corresponding to current PB ratios of 0.60X, 0.56X, and 0.52X, respectively [3][4].

Investment Rating - The report maintains an "Increase" rating for the company [3] Core Views - The company achieved operating revenue of 626.42 billion yuan, a decrease of 3.82% year-on-year, and a net profit attributable to ordinary shareholders of 269.03 billion yuan, an increase of 0.13% year-on-year [4] - As of the end of September, the company's total assets reached 48.36 trillion yuan, up 8.71% year-on-year, with a non-performing loan ratio of 1.35%, remaining stable quarter-on-quarter [4] - The report indicates a slowdown in general loan issuance due to weak demand and a shift away from scale-oriented growth, although there was a significant increase in bill discounting [4][5] - Deposit growth has stabilized as the impact of "squeezing water" has diminished, with a notable increase in the proportion of fixed-term deposits [5] - The report highlights a significant improvement in interest rates, with a quarterly net interest margin of 1.43%, a year-on-year decrease of 15 basis points, but a quarter-on-quarter increase of 5 basis points [6] - Fee and commission income has continued to decline due to market factors, but a recovery is expected in the fourth quarter [7] - The non-performing loan rate remains stable, with a slight increase in the provision coverage ratio to 220.30% [7] Summary by Sections Financial Performance - The company reported a total operating revenue of 626.42 billion yuan, down 3.82% year-on-year, and a net profit of 269.03 billion yuan, up 0.13% year-on-year [4] - Total assets reached 48.36 trillion yuan, an increase of 8.71% year-on-year, with a non-performing loan ratio of 1.35% [4] Loan and Deposit Trends - General loan issuance has slowed significantly due to weak demand, while bill discounting has increased [4][5] - Deposit growth has stabilized, with the impact of "squeezing water" diminishing [5] Interest Margin and Income - The quarterly net interest margin was 1.43%, with a year-on-year decrease of 15 basis points but a quarter-on-quarter increase of 5 basis points [6] - Fee and commission income has declined but is expected to recover in the fourth quarter [7] Asset Quality - The non-performing loan rate remains stable at 1.35%, with a provision coverage ratio of 220.30% [7]

Investment Rating - Maintains an "Overweight" rating for Industrial and Commercial Bank of China (ICBC) with a target price of 7.11 yuan, representing a 0.69x PB for 2024 [5] Core Views - ICBC's Q3 2024 performance exceeded expectations, with both revenue and net profit growth turning positive [3] - The net interest margin (NIM) showed signs of stabilization, and asset quality remained stable [3] - The bank's Q3 revenue growth was 1.1% YoY, a significant improvement from Q2's -8.7% [4] - Net interest income declined by 1.1%, but the decrease narrowed, while non-interest income surged by 50.1%, driven by investment gains [4] - Net profit growth for Q3 rebounded to 3.8%, supported by a lower effective tax rate [4] Financial Performance - Total assets grew by 8.7% YoY, with loans increasing by 9% YoY by the end of Q3 2024 [4] - New loans in Q3 amounted to 258.4 billion yuan, with retail loans increasing by 12.7 billion yuan and corporate loans decreasing by 8.9 billion yuan [4] - The NIM for the first three quarters of 2024 was 1.43%, unchanged from the first half, with stabilization attributed to declining liability costs [4] - The non-performing loan (NPL) ratio remained stable at 1.35%, while the provision coverage ratio increased to 220.3% [4] Earnings Forecast - Adjusted net profit growth forecasts for 2024-2026 are 0.57%, 1.54%, and 1.91%, respectively, with EPS estimates of 0.99, 1.00, and 1.02 yuan [4] - The bank's ROAE is expected to decline gradually from 10.7% in 2023 to 9.0% in 2026 [10] Valuation and Peer Comparison - ICBC's 2024E P/B ratio is 0.60x, lower than peers such as China Construction Bank (0.61x) and Agricultural Bank of China (0.63x) [13] - The bank's 2024E P/E ratio is 6.24x, slightly higher than some peers like Bank of Communications (6.08x) [13] Industry Context - The banking sector is expected to benefit from recent economic stabilization policies, which may alleviate credit risks and boost loan demand [4] - However, the NIM is still under pressure due to factors such as LPR cuts and adjustments to existing mortgage rates [4]

证券研究报告 金融公司|公司点评|工商银行（601398） 净利润增速转正，净息差与上半年持平 请务必阅读报告末页的重要声明 glzqdatemark1 2024年11月01日 证券研究报告 |报告要点 2024Q1-Q3 公司营收同比增速较 2024H1 +2.02pct，主要系公司利息收入与其他非息收入表现 边际改善。2024Q1-Q3公司利息净收入、其他非息收入分别同比-4.94%、+17.53%，增速较2024H1 分别+1.89pct、+11.86pct，其他非息收入增速明显提升主要系去年同期公允价值变动损益基 数较低。 |分析师及联系人 刘雨辰 陈昌涛 SAC：S0590522100001 请务必阅读报告末页的重要声明 1 / 5 金融公司|公司点评 glzqdatemark2 2024年11月01日 工商银行(601398) 净利润增速转正，净息差与上半年持平 | --- | --- | |--------------------------|----------------------| | | | | 行 业： | 银行 / 国有大型银行Ⅱ | | 投资评级： | 买入（维持） | | 当前 ...

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 截至月份: 2024年10月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 中國工商銀行股份有限公司 呈交日期: 2024年11月1日 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) | 01398 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 86,794,044,550 | RMB | | | 1 RMB | | 86,794,044,550 | | 增加 / 減少 (-) | | | 0 | | | | RMB | | 0 | | 本月底結存 | | | 86,794,044,550 | RMB | | | 1 RMB | | 86,794,044,550 | ...

2024 年 11 月 1 日 公司研究 盈利增速回正，资产质量稳健 ——工商银行（601398.SH）2024 年三季报点评 买入(维持) 当前价：6.04 元 分析师:王一峰 执业证书编号：S0930519050002 010-57378038 wangyf@ebscn.com 分析师:董文欣 执业证书编号：S0930521090001 010-57378035 dongwx@ebscn.com | --- | --- | --- | --- | |----------------|-------|--------|-------| | 96 | 1M | 3M | 1Y | | 相对 | 0.89 | -11.08 | 24.33 | | 绝对 | -2.27 | 2.72 | 33.29 | | 资料来源：Wind | | | | | --- | --- | |--------------------|-----------| | | | | 市场数据 | | | | | | 总股本(亿股) | 3,564.06 | | 总市值(亿元): | 21,526.94 | | 一年最低/最高(元): | 4 ...

公司报告 | 季报点评 息差企稳，盈利向上修复，拨备维持高位。 事件： 工商银行发布 24 年三季度财报。2024 年前三季度，企业实现营收约 6264 亿元，归母净利润 2690 亿元，YoY+0.13%；不良率 1.35%，不良拨备 覆盖率 220.3%。 净息差企稳。24Q1-3 企业净息差为 1.43%，与 2024 年中持平。结合今 年下半年的贷款利率和存款挂牌利率双向调整环境下，企业未来息差压力 可能有所减缓，营收能力也可能随之向好。 流动性覆盖水平稳步向上。据企业 2024 年数据显示，前三季度流动性覆 盖率分别为 126.6%、133.7%、138.2%，这表明工商银行对未来可能的 经营压力的递补能力进一步提升。 盈利能力韧性表现。24Q3 企业累计归母净利润同比为 0.13%，较一季度 和年中改善 2.91、2.02pct，释放积信号。 资产端：截止 24Q3 工商银行生息资产总计 468,890 亿元，较 24H1 上升 10,228 亿元（环比+ 2.2%）。从结构细分来看，贷款、金融投资、同业及 拆放、存放央行较 24H1 各项余额规模环比变动+0.9、+2.3、+16.2、 +3.3 ...