证券代码：601998 证券简称：中信银行 公告编号：临2026-013 中信银行股份有限公司 关于延长向原股东配售股份股东会决议有效期的公告 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。 2022年6月23日，中信银行股份有限公司（以下简称本行）2021年年度股东 大会、2022年第一次A股类别股东会及2022年第一次H股类别股东会（以下合称 "配股股东会"）审议通过《关于中信银行股份有限公司配股方案的议案》等与 本行拟向原股东配售股份（以下简称本次配股）相关的议案，决议的有效期为自 本行配股股东会审议通过之日起12个月。根据本行相关股东会逐年审议通过的 《关于延长配股股东大会决议有效期的议案》，本次配股相关决议有效期将于 2026年6月22日届满。 鉴于本次配股尚待上海证券交易所审核通过并获得中国证券监督管理委员 会同意注册的决定等因素，本次配股实施仍需要一定时间，为确保本次配股工作 的延续性和有效性，本行于2026年3月20日召开董事会，审议通过了《关于延长 配股股东会决议有效期的议案》，同意并拟提请股东会批准，将本行配 ...

证券代码：601998 证券简称：中信银行 公告编号：临2026-010 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2026年3月6日以书面形式发出有 关会议通知和材料，于2026年3月20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，廖子彬独立董事因公务委托王化成独立董事代为 出席并表决。本次会议由方合英董事长主持，本行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、部门规章、规 范性文件和《中信银行股份有限公司章程》的规定。根据表决结果，会议审议通 过以下议案： 一、审议通过《中信银行股份有限公司2025年年度报告》 表决结果： 赞成9票 反对0票 弃权0票 《中信银行股份有限公司2025年年度报告》（包括财务报告及年度报告摘要） 已经本行董事会审计委员会审议通过，委员会全体委员同意将其提交董事会审议。 《中 ...

证券代码：601998 证券简称：中信银行 公告编号：临2026-011 4. 综合考虑财务、资本状况等因素，本行拟向全体普通股股东派发现金股 息，以本次分红派息的股权登记日登记的总股本为基数，向股权登记日登记在册 的 A 股股东和 H 股股东每 10 股派发现金股息 1.93 元人民币（含税，下同）， 按截至 2025 年 12 月 31 日本行 A 股和 H 股总股本数 556.45 亿股计算，2025 年 度普通股现金股息总额为人民币 107.40 亿元，连同已派发的中期现金股息 104.61 亿元（每 10 股派发现金股息 1.88 元人民币），全年派发现金股息合计 212.01 亿元（每 10 股派发现金股息 3.81 元人民币），占本年度合并后归属于本行普通 股股东净利润的 31.75%，占合并后归属于本行股东净利润的 30.02%。 中信银行股份有限公司 2025 年度利润分配方案公告 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： 一、利润分配方案内容 （一）利润分配方案的具体内容 经毕马威华振会 ...

中信银行股份有限公司 二〇二五年年度报告 （A股股票代码601998） 2026年3月20日 中信银行股份有限公司 | 2025 年年度报告 本行成立于 1987 年，是中国改革开放中最早成立的新兴商业银行之一，是中国 最早参与国内外金融市场融资的商业银行，并以屡创中国现代金融史上多个第一而蜚 声海内外，为中国经济建设作出了积极贡献。2007 年 4 月，本行实现在上海证券交 易所和香港联合交易所 A+H 股同步上市。 本行依托中信集团"金融+实业"综合禀赋优势，以全面建设"四有"1银行、跨 入世界一流银行竞争前列为发展愿景，坚持"诚实守信、以义取利、稳健审慎、守正 创新、依法合规"，以客户为中心，通过实施"五个领先"2银行战略，打造有特色、 差异化的中信金融服务模式，向政府与机构客户、企业客户和同业客户提供公司银行 业务、投资银行业务、国际业务、交易银行业务、托管业务、金融市场业务等综合金 融解决方案；向个人客户提供财富管理业务、个人信贷业务、信用卡业务、私人银行 业务、养老金融业务、出国金融业务等多元化金融产品及服务，全方位满足政府与机 构、企业、同业及个人客户的综合金融服务需求。 截至报告期末，本行在国 ...

表决结果： 赞成9票 反对0票 弃权0票 二、审议通过《中信银行2025年流动性风险管理报告》 表决结果： 赞成9票 反对0票 弃权0票 三、审议通过《中信银行2025年度操作风险管理报告》 表决结果： 赞成9票 反对0票 弃权0票 四、审议通过《中信银行2025年度银行账簿利率风险管理报告》 表决结果： 赞成9票 反对0票 弃权0票 五、审议通过《中信银行集团2025年度并表管理执行情况报告》 表决结果： 赞成9票 反对0票 弃权0票 六、审议通过《中信银行股份有限公司2025年度主要股东和大股东股权管理 情况报告》 1 表决结果： 赞成9票 反对0票 弃权0票 证券代码：601998 证券简称：中信银行 公告编号：临2026-007 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 2026 年 3 月 6 日以书面形式发 出有关会议通知和材料，于 2026 年 3 月 19 日以书面传签形式完成一次董事会会 议召开并形成决议。本次会议应参与表决董 ...

中信銀行股份有限公司 China CITIC Bank Corporation Limited 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，概不就因本公告全部或任何部份內容而產 生或 因依賴該等內容而引致的任何損失承擔任何責任。 （在中華人民共和國註冊成立的股份有限公司） （股份代號：998） 於其他市場發佈的公告 本公告乃根據香港聯合交易所有限公司證券上市規則第 13.10B 條刊登。 茲載列該公告（於上海證券交易所網站刊登）如下，僅供參閱。 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 证券代码：601998 证券简称：中信银行 公告编号：临2026-007 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 2026 年 3 月 6 日以书面形式发 出有关会议通知和材料，于 2026 年 3 月 19 日以书面传签形式完成一次董事会会 议召开并形成决议。本 ...

Group 1 - The banking operating environment is characterized by a shift to a "quality over quantity" approach in credit growth, with a slowdown in RMB loan growth to 6% as of February 2026, influenced by weak credit demand and a focus on state-supported industries [4][14] - Fiscal policy remains proactive, with a projected general deficit rate of approximately 8.0% in 2026, which is expected to maintain a strong leverage effect on credit demand similar to 2025 [31][32] - The profitability of banks is gradually stabilizing, with state-owned banks showing positive profit growth due to fiscal policies, while smaller banks face operational pressures [7][35] Group 2 - Retail credit risk remains under pressure, with an increase in non-performing loans, particularly among smaller banks, although there is optimism for state-owned banks' asset quality [7][26] - The investment strategy emphasizes two main lines: focusing on wealth management capabilities in joint-stock banks and identifying city and rural commercial banks with controllable risks and strong profit certainty [6][35] - The credit growth momentum is shifting from traditional industries to emerging sectors supported by government policies, with significant growth in loans to green and high-tech enterprises [19][20]

Investment Rating - The report maintains a positive outlook on the banking industry, indicating a transition towards stable profitability and high-quality development during the "15th Five-Year Plan" period, with a recommendation to focus on high-quality banks that are expected to recover towards a 1x price-to-book (PB) ratio [7]. Core Insights - The banking landscape has undergone significant changes during the "14th Five-Year Plan," characterized by a trend towards the dominance of larger banks, with listed banks outperforming non-listed banks in terms of total assets, loans, and net profits [6][19]. - The report highlights three major changes in the banking sector: 1. Increasing concentration among top banks, with listed banks showing superior performance compared to non-listed banks, reflected in a non-performing loan (NPL) ratio of approximately 1.2%, which is half that of non-listed banks [6][15]. 2. A shift in market share dynamics, with state-owned banks gaining dominance, while regional commercial banks are accelerating their growth, and shareholding and rural commercial banks are experiencing a decline [6][19]. 3. Niche operations are emerging as a new direction for smaller banks, with wealth management and investment banking becoming areas where leading shareholding banks are outperforming larger state-owned banks [6][19]. Summary by Sections 1. Dominance of Listed Banks - Listed banks have seen their market share in total assets and loans increase to 81.2% and 79.9%, respectively, as of Q3 2025, marking a recovery from declines during the previous "13th Five-Year Plan" [13][14]. - The net profit share of listed banks has risen to nearly 90%, indicating improved operational efficiency [13][14]. 2. Changing Landscape of Various Banks - State-owned banks have increased their market share in total assets and loans to 50.2% and 52.8%, respectively, during the "14th Five-Year Plan," reflecting their enhanced role as a stabilizing force in the economy [19][22]. - Regional commercial banks have improved their market positions, particularly in economically strong provinces, while shareholding and rural commercial banks have faced challenges, with market shares declining [19][22]. 3. Characteristics of Corporate and Retail Banking - The report notes a growing trend of strong corporate lending and weaker retail lending, which has become a key factor in the competitive dynamics among different types of banks [19][22]. 4. Establishment of a Differentiated Development Ecosystem - The report emphasizes the establishment of a "dislocated development and differentiated operation" ecosystem, where larger banks dominate in volume but face challenges in pricing, while smaller banks focus on flexible service offerings to differentiate themselves [6][19]. 5. Investment Analysis Recommendations - The report suggests focusing on two main investment themes for 2026: 1. Asset expansion, targeting quality regional commercial banks such as Chongqing Bank, Suzhou Bank, and Ningbo Bank [7]. 2. Real estate recovery, focusing on shareholding banks that are expected to recover sooner, such as Industrial Bank, Citic Bank, and China Merchants Bank [7].

Group 1 - The report highlights four key reasons supporting the optimistic outlook for bank valuation recovery: the end of capital outflows, historically low fund holdings in banks, high dividend yields, and stable performance expectations for 2026 [10][14][21] - The report emphasizes the strategy of "2026 bank α stronger than β," focusing on stock selection from the bottom up, as the significance of choosing quality stocks has increased in the current market environment [4][27] - The report identifies two major discrepancies in bank fundamentals: the relationship between interest rate cuts and profit declines, and the distinction between risk disposal and the burden on the banking system [27][54] Group 2 - The report indicates that since the second half of 2025, bank stocks have underperformed primarily due to capital market pressures, but the situation is expected to improve as capital outflows have ceased [8][13] - The report notes that the dividend yield for the banking sector has risen to 4.7%, making it attractive for long-term investors seeking stable returns in a low-interest-rate environment [17][21] - The report predicts that the net interest margin for listed banks will stabilize in 2026, with a year-on-year decline expected to narrow to single digits, benefiting from effective risk management [22][25][66] Group 3 - The report outlines two main investment themes for 2026: the asset expansion theme, focusing on banks with strong credit resources and revenue elasticity, particularly city commercial banks, and the real estate improvement theme, which anticipates a reversal of difficulties for joint-stock banks as real estate policies stabilize [32][37][44] - The report emphasizes the importance of banks that have effectively reduced real estate exposure and strengthened their fundamentals, as these banks are likely to benefit from easing pressure on credit costs and achieving stable profit growth [47][48] - The report suggests that banks with a strong ability to manage credit risk and those that have proactively reduced exposure to real estate will be better positioned to recover and outperform their peers [46][47]

Investment Rating - The report maintains a positive outlook on the banking industry, indicating a transition towards stable profitability and high-quality development during the "15th Five-Year Plan" period, with a focus on quality banks recovering towards a 1x PB valuation [7]. Core Insights - The banking landscape has undergone significant changes during the "14th Five-Year Plan," characterized by a trend towards the dominance of listed banks over non-listed banks, with listed banks showing improved asset quality and profitability metrics [6][8]. - The report highlights three major shifts in the banking sector: the increasing dominance of state-owned banks, the rapid development of city commercial banks, and the ongoing decline in market share for joint-stock and rural commercial banks [6][8]. - The report emphasizes the importance of differentiated operations and regional focus for smaller banks to thrive in a competitive environment, suggesting that local banks should leverage their unique advantages to capture market potential [6][8]. Summary by Sections 1. Dominance of Listed Banks - Listed banks have seen a rise in market share for total assets, loans, and net profits, with total assets and loans reaching 81.2% and 79.9% respectively by Q3 2025, reflecting a recovery from previous declines during the "13th Five-Year Plan" [17][18]. - The net profit share of listed banks has increased to nearly 90%, indicating better operational efficiency compared to non-listed banks [17][18]. 2. Changing Landscape of Various Banks - State-owned banks have strengthened their market position, with total assets and loan market shares increasing to 50.2% and 52.8% respectively, while joint-stock banks have faced challenges, with their market shares declining [22][26]. - City commercial banks have benefited from regional development, with their market shares in total assets, loans, and net profits rising to 16.2%, 14.5%, and 12.1% respectively [22][24]. 3. Characteristics of Corporate and Retail Banking - The report notes a growing trend of strong corporate lending and weaker retail lending, which has become a key factor for the leading performance of state-owned and city commercial banks [6][22]. - The report also highlights the need for banks to balance pricing and efficiency, especially as large banks dominate key sectors while smaller banks focus on flexible service offerings [6][8]. 4. Establishment of a Differentiated Operating Ecosystem - The report discusses the establishment of a "dislocated development and differentiated operation" ecosystem, where large banks dominate in volume but face challenges in pricing, while smaller banks focus on niche markets [6][8]. - Wealth management and investment banking sectors are increasingly led by top joint-stock banks, which have surpassed state-owned banks in market share [6][8]. 5. Investment Analysis Recommendations - The report suggests focusing on two main investment themes for 2026: the expansion of asset portfolios in quality city commercial banks like Chongqing Bank, Suzhou Bank, and Ningbo Bank, and the recovery of joint-stock banks like Industrial Bank, CITIC Bank, and China Merchants Bank [7][8].