Core Viewpoint - The event "Innovation Driven, Open Win-Win" organized by the Industrial and Commercial Bank of China (ICBC) aims to enhance financial support for the development of Hebei's development zones, focusing on integrating global resources and improving foreign trade and investment [1][3][4]. Group 1: Event Overview - The event was attended by representatives from 11 pilot development zones and 21 key enterprises, emphasizing the importance of financial empowerment for open development [1][3]. - The meeting marks the third year of the financial advisory initiative, which is a key task in the government's work report for the year [3][4]. Group 2: Service Upgrades - The service scope has been expanded from domestic resource linkage to global resource integration, covering major economies in Europe, the Middle East, Southeast Asia, and the Americas [4]. - An expert team of overseas financial advisors with an average of over 18 years of experience from 11 countries has been introduced to provide specialized support in cross-border financing, capital operations, and risk management [4]. - A special credit quota of 100 billion yuan has been established to support cross-border empowerment, along with policies to reduce costs for enterprises [4]. Group 3: Cross-Border Cooperation - The event featured the issuance of appointment letters to the first batch of overseas financial advisors, who shared typical cases of supporting foreign trade and investment [6][8]. - Representatives from various development zones presented their industrial layouts and expressed their commitment to attracting investment, while companies shared their experiences and challenges in foreign trade [8][10]. Group 4: Future Outlook - The event signifies the full launch of ICBC Hebei's service initiative for development zones, aiming to leverage global resources to support foreign investment, expand foreign trade, and strengthen industries in Hebei [10].

Core Insights - The establishment of the Ningbo Tonggao Gongrong Private Equity Investment Fund marks a significant development in the financial landscape of Ningbo, with a registered scale of 2 billion yuan, making it the largest single AIC equity investment fund in the city [1] - The fund aims to focus on eight key industrial sectors, including digital industry, artificial intelligence, new energy vehicles, high-end equipment manufacturing, biomedicine, new materials, fine chemicals, and modern productive services [1][2] - The Industrial and Commercial Bank of China (ICBC) has cumulatively registered AIC equity investment funds totaling 5 billion yuan in Ningbo, positioning itself as the leading commercial bank in the city [1] Investment Strategy - The Ningbo Tonggao Gongrong Private Equity Investment Fund is a collaborative effort involving ICBC Financial Asset Investment Co., Ningbo Tongshang Holding Group Co., and Ningbo High-tech Venture Capital Co., focusing on precision investment and nurturing to attract quality resources for regional industrial upgrades [1][2] - Following the expansion of the financial asset investment company's equity investment pilot program, ICBC Ningbo Branch has successfully launched its first equity investment project under the Ningbo Gongrong New Momentum Fund, indicating a proactive approach to leveraging policy opportunities [2] - The bank plans to continue utilizing its comprehensive advantages to support key industries in Ningbo, emphasizing the importance of "long-term capital," "patient capital," and "strategic capital" in fostering technological innovation [2]

证券代码：601398 证券简称：工商银行 公告编号：临 2025-015 号 中国工商银行股份有限公司 关于 2025 年无固定期限资本债券（第一期）（债券通） 发行完毕的公告 二〇二五年五月十三日 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。 经相关监管机构批准，中国工商银行股份有限公司（简称本行）2025 年无 固定期限资本债券（第一期）（债券通）（简称本期债券）已于近日在全国银行间 债券市场发行完毕。 本期债券于 2025 年 5 月 9 日簿记建档，并于 2025 年 5 月 13 日完成发行。 本期债券发行规模为人民币 400 亿元，前 5 年票面利率为 1.97%，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条件赎回权。 本期债券募集资金将依据适用法律和主管部门的批准，用于补充本行其他一 级资本。 特此公告。 中国工商银行股份有限公司董事会 ...

Investment Rating - The report maintains an "Overweight" rating for the company [1] Core Views - The company reported a Q1 2025 revenue of 212.77 billion yuan, a decrease of 3.22% year-on-year, and a net profit attributable to shareholders of 84.16 billion yuan, down 3.99% year-on-year [2] - Total assets at the end of Q1 stood at 51.55 trillion yuan, reflecting an increase of 8.29% year-on-year, with a non-performing loan ratio of 1.33%, down 1 basis point quarter-on-quarter [2] - The net interest margin for Q1 was 1.33%, a decline of 15 basis points year-on-year [2] Summary by Sections Financial Performance - Q1 2025 revenue decreased by 3.22% year-on-year to 2127.74 billion yuan, with net profit down 3.99% to 841.56 billion yuan [2] - Total assets increased by 8.29% year-on-year to 51.55 trillion yuan, with a non-performing loan ratio of 1.33% [2] Loan and Deposit Growth - Government financing has driven growth in investment assets, while loan growth has slightly slowed due to demand factors [6] - Deposit growth has shown a slight recovery, influenced by macroeconomic policies [6] Interest Margin and Income - The net interest margin for Q1 was 1.33%, reflecting a decline due to repricing effects [6] - Fee and commission income has seen a narrowing decline, with potential for recovery in the upcoming quarters [6] Asset Quality - The overall asset quality remains stable, with a non-performing loan ratio of 1.33% at the end of 2024 [7] - Individual loan risks are expected to be manageable, supported by a solid customer base and prudent risk management [7] Earnings Forecast and Investment Recommendation - The company is expected to maintain stable operations despite rising pressures, with projected revenues of 817.5 billion yuan, 833 billion yuan, and 880.2 billion yuan for 2025, 2026, and 2027 respectively [8] - The report maintains an "Overweight" rating based on the company's strong customer base, diversified business, and stable dividend policy [8]

Group 1 - The central bank's gold price for RMB accounts is 760.06, with a bank buying price of 759.81, reflecting a decrease of 14.52 yuan [2] - The silver price for RMB accounts is set at 7.588, with a bank buying price of 7.578, showing a decline of 0.033 yuan [2] - The platinum price for RMB accounts is 232.70, with a bank buying price of 231.14, indicating an increase of 0.43 yuan [2] - The gold selling price is 760.31, while the silver selling price is 7.598 [2] - The palladium price for RMB accounts is 228.31, with a bank buying price of 224.35, reflecting an increase of 0.31 yuan [2]

Core Viewpoint - The Industrial and Commercial Bank of China (ICBC) Shanghai Jiading Branch addressed rumors regarding counterfeit gold bars, confirming that the allegations were unfounded and that quality checks were conducted to ensure authenticity [1] Group 1 - On May 9, ICBC Shanghai Jiading Branch released a statement regarding rumors of counterfeit gold bars, specifically two products purchased by a customer at the Nanxiang Branch [1] - The rumors originated from a report on May 7, claiming that impurities were found during the processing of the gold bars, which was later verified as untrue [1] - The bank took the matter seriously, contacted the customer, and arranged for the gold bar manufacturers to conduct on-site verifications, finding no significant abnormalities [1] Group 2 - Following discussions with the customer, the two gold bars were sent to the Shanghai Institute of Measurement and Testing Technology for quality inspection, with the entire process being notarized by the Jiading Public Notary Office [1]

Core Points - The announcement details the results of the voting intention solicitation for the 2024 Annual General Meeting of the company, held on May 9, 2025, in Beijing [1] - A total of 623 depositary receipt holders participated, representing 29,403,161 shares of common stock and 15,195,308 shares of Class B common stock, accounting for 57.7459% of the total voting rights [1] Voting Intention Results - For Class A common stock, the voting results showed 288,203,951 votes in favor (27.3491%), 24,000 votes against (0.0023%), and 5,803,658 abstentions (0.5507%) [1] - For Class B common stock, the voting results indicated 759,765,405 votes in favor (72.0979%), with no votes against or abstentions [1] Voting Rights Structure - The company has a dual-class share structure where each Class B common stock has five voting rights, while each Class A common stock has one voting right [4] - The actual controllers of the company hold a combined voting power of 59.24% [4] Proxy Voting Arrangements - The depositary has sent the voting intention results to the overseas custodian, who will relay the results to the company for the AGM [5] - Holders who did not participate in the voting intention solicitation are considered absent and their shares will not be counted in the voting rights calculation [5]

Group 1 - The core issue raised is the concern over the quality of gold bars purchased from banks, following reports of impurities found in these products [1] - The Industrial and Commercial Bank of China (ICBC) has acknowledged the issue and is verifying the claims made by customers regarding the gold bars [1] - The general manager of Swiss Metalor Precious Metals Suzhou stated that gold bars sold by state-owned banks are typically sourced from certified refineries, ensuring high credibility despite some market irregularities [1][3] Group 2 - Banks categorize their gold products into investment gold bars and themed gold bars, with different supply channels and pricing models [2] - Investment gold bars are supplied by members of the Shanghai Gold Exchange, including major companies like Shandong Gold and Metalor, and are marked with weight and purity information [3] - The price markup for investment gold bars ranges from 8 to 20 yuan per gram, while themed gold bars can have a markup of 70 to 180 yuan per gram due to their craftsmanship and branding [3] Group 3 - Banks also offer a gold buyback service, requiring that the gold products be in good condition and meet specific criteria for repurchase [7][8] - The buyback process includes thorough verification, but challenges exist due to the need for destructive testing at factories, which cannot be performed at bank branches [9] - The rise in gold prices has led to an increase in fraudulent activities, including the circulation of substandard gold bars that do not meet purity or weight standards [10] Group 4 - The Shanghai Gold Exchange has issued multiple risk warnings in response to significant fluctuations in precious metal prices, urging members to prepare risk management plans [11]

Core Viewpoint - The Industrial and Commercial Bank of China (ICBC) Dixi Branch has successfully implemented an online housing provident fund loan process, marking a significant improvement in efficiency for local residents [1][2]. Group 1: Implementation of Online Services - ICBC Dixi Branch has responded to the "Efficient Completion of One Thing" reform by utilizing the "Gansu Government Service Network" to facilitate the first online housing provident fund loan [1]. - The new process allows for "one-stop application and single submission of materials," significantly reducing the complexity and time required for loan approval [1]. Group 2: Customer Experience - Mr. Wan, the first customer to use the new online loan process, completed his loan issuance in less than 15 working days, highlighting the simplicity and clarity of the process [2]. - The streamlined process has resulted in reduced need for customers to visit multiple departments, thus enhancing overall customer satisfaction [2]. Group 3: Future Plans - ICBC Dixi Branch aims to continue enhancing the integration of financial and government services, optimizing processes, and innovating models to improve the efficiency of housing provident fund loan applications [2]. - The bank is committed to providing high-quality financial services to support local economic and social development [2].

Group 1 - The company plans to repurchase shares amounting to between 150 million to 300 million RMB, funded by its own resources and a special loan for the repurchase [1] - The repurchase price will not exceed 9.8 RMB per share, and the shares will be used for implementing an equity incentive plan [1] - The company has obtained a loan commitment letter from the Jiangxi branch of Industrial and Commercial Bank of China, agreeing to provide a stock repurchase loan of up to 270 million RMB, which is not more than 90% of the total repurchase funds, with a loan term of no more than 36 months [1]