發行人在計劃下發行的票據已於2024年11月28日獲准在倫敦證券交易所國際證券 市場進行交易。 呈交給倫敦證券交易所並在其網站上刊登的相關文件，請參 見： www.londonstockexchange.com 。 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及4619（優先股）） 海外監管公告 中國銀行股份有限公司多倫多分行（「發行人」） 在本行建立的40,000,000,000美元 中期票據計劃（「計劃」）下發行 於2027年到期的400,000,000美元浮動利率票據 （「票據」） 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條而作出。 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之內容概不負責，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。 本公告僅供參考之用，並不構成收購、購買或認購證券的邀請或要約。根據計劃將予發行的票 據（定義如下）將不會根據1933年美國聯邦證券法（經修訂）登記。 ...

证券代码：601988 证券简称：中国银行 公告编号：临 2024-057 截至本公告日，本行已行使赎回权，全额赎回了本期债券。 特此公告 中国银行股份有限公司董事会 二〇二四年十一月二十五日 中国银行股份有限公司 关于赎回二级资本债券的公告 中国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。 2019 年 11 月 20 日，中国银行股份有限公司（简称"本行"）发行了 10 年期固定利率规模为 300 亿元人民币的二级资本债券（简称"本期债 券"），并于 2019 年 11 月 22 日发布了《中国银行股份有限公司关于二级 资本债券发行完毕的公告》（公告编号：临 2019-059）。根据本期债券募 集说明书相关条款的规定，本期债券设有发行人赎回权，发行人有权在本 期债券第五年末，即 2024 年 11 月 22 日赎回本期债券。 ...

Core Insights - The report by the China Banking Association highlights the development status of rural small and medium-sized banks in China, focusing on their operational environment, business development, financial support, reform transformation, and corporate governance [1] Group 1: Overall Performance - As of the end of 2023, total assets and total liabilities of rural small and medium-sized banks reached 54.61 trillion yuan and 50.66 trillion yuan, respectively, both showing a year-on-year growth of 9.2% [1] - These banks account for 13.1% of the total assets and 13.2% of the total liabilities in the banking sector [1] Group 2: Financial Health Indicators - The non-performing loan ratio for rural cooperative financial institutions stood at 3.49%, with a capital adequacy ratio of 12.27% and a provision coverage ratio of 133.1% [1] - The loan provision ratio was recorded at 4.65%, while the non-performing asset ratio for non-loan assets was 1.42% [1] - The liquidity ratio was reported at 77.85%, indicating that major risk regulatory indicators are within a reasonable range [1] Group 3: Agricultural Loan Support - The balance of agricultural loans from rural small and medium-sized banks reached 16 trillion yuan, effectively meeting the financial service needs of major grain-producing areas, the entire industry chain, and poverty alleviation regions [1] - This financial support has significantly contributed to the development of rural characteristic industries, local brands, and new industries and business formats [1]

Leadership Changes - Zhang Hui has been appointed as the Deputy Party Secretary of Bank of China and is expected to become the President of Bank of China after completing the relevant personnel procedures [1] - Zhang Hui previously served as the Vice President of China Development Bank and has extensive experience in risk management and control [2] - The current President of Bank of China is Ge Haijiao, who is also the Party Secretary and Chairman of the bank [2] Financial Performance - Bank of China reported a revenue of 478.348 billion yuan for the first three quarters of the year, a year-on-year increase of 1.64% [3] - The net profit attributable to the parent company was 175.763 billion yuan, a year-on-year increase of 0.52% [3] - The non-performing loan ratio was 1.26% at the end of September, a decrease of 0.01 percentage points from the end of the previous year [3] - The non-performing loan coverage ratio was 198.86%, an increase of 7.2 percentage points from the end of the previous year [3]

Core Insights - China Bank has successfully assisted Suzano Group, the world's largest hardwood pulp producer, in issuing 1.2 billion yuan green medium-term notes in the Chinese interbank bond market [1] - This bond has a term of 3 years and a coupon rate of 2.8%, marking it as the first panda bond from South America and the first green panda bond issued by a multinational corporation this year [1] - To date, China Bank has helped 66 overseas institutions issue a total of 485 billion yuan in panda bonds, maintaining the top market share in panda bond underwriting for ten consecutive years [1]

Core Insights - The 2024 Singapore FinTech Festival took place from November 6 to 8, showcasing innovations from various financial institutions, including Bank of China, which has participated for eight consecutive years [1][2] - Bank of China's Singapore branch president, Shi Wei, highlighted the transformative impact of technologies such as mobile tech, big data, cloud computing, and AI on traditional finance, emphasizing their role in promoting digital finance and inclusive financial services [1] - The development of digital finance is seen as crucial for enhancing service efficiency, promoting financial inclusion, and improving risk management in the financial sector [1] Group 1 - Bank of China presented multiple innovative achievements at the festival, engaging with global policymakers, industry leaders, and tech experts [1] - The bank established its first innovation research and development base in Singapore in 2018, focusing on AI, big data, and IoT to enhance customer service and digital operations [1] - The bank's initiatives aim to better serve small and micro enterprises and rural areas, contributing to the broader goal of financial inclusion [1] Group 2 - Bank of China actively integrates into Singapore's local innovation ecosystem, collaborating with regulators, government, and partners on projects like the Veritas responsible AI initiative and the paperless cross-border trade pilot [2]

Investment Rating - The report adjusts the investment rating to "Accumulate" with a target price of 5.45 yuan, indicating a potential upside of 12% from the current price of 4.88 yuan [5][17]. Core Views - The report highlights that the bank's profitability is recovering, with a year-on-year increase in net profit of 0.52% for the first three quarters of 2024, signaling positive momentum [1][3]. - The net interest margin is expected to stabilize, with a current level of 1.41%, influenced by adjustments in loan and deposit rates [1][8]. - The bank's asset quality remains robust, with a non-performing loan ratio of 1.26% and a provision coverage ratio of 198.9% [2][15]. Financial Performance Summary - For the first three quarters of 2024, the bank reported total revenue of approximately 478.3 billion yuan, a year-on-year increase of 1.64%, with net interest income of 336 billion yuan (YoY -4.81%) and non-interest income of 142.4 billion yuan (YoY +20.99%) [3][8]. - The bank's total interest-earning assets reached 329,718 billion yuan, up 1,780 billion yuan from the first half of 2024, with loans accounting for 63.4% of the total [2][14]. - The total interest-bearing liabilities increased to 297,855 billion yuan, reflecting a growth of 3,724 billion yuan from the first half of 2024 [2][14]. Profitability and Valuation - The report forecasts a net profit growth of 0.67%, 1.68%, and 5.72% for the years 2024, 2025, and 2026, respectively, with corresponding book values per share of 8.41, 9.31, and 10.13 yuan [3][17]. - The bank's price-to-earnings ratio is projected to be 6.00 for 2024, indicating a stable valuation relative to its earnings growth [4][18].

Investment Rating - The report maintains an "Accumulate" rating for the company [1] Core Views - The company has shown resilience in its operations, with revenue and profit growth returning to positive territory. For the first three quarters of 2024, the company achieved operating revenue of 478.3 billion yuan, a year-on-year increase of 1.6%, and a net profit attributable to shareholders of 175.8 billion yuan, up 0.5% year-on-year [3][4] Summary by Sections Revenue Performance - The company's revenue growth has improved compared to the first half of 2024, with operating revenue, pre-provision operating profit (PPOP), and net profit attributable to shareholders increasing by 1.6%, -2.4%, and 0.5% respectively, showing an increase of 2.3, 0.3, and 1.8 percentage points compared to the first half of 2024 [4] Income Composition - The main components of revenue include a 4.8% year-on-year decline in net interest income, which has worsened by 1.7 percentage points compared to the first half of 2024, and a significant 21% year-on-year increase in non-interest income, which has improved by 15 percentage points compared to the first half of 2024 [4][7] Asset Growth and Loan Distribution - As of the end of Q3 2024, the growth rate of interest-earning assets decreased by 2.1 percentage points to 7.6% year-on-year. Loans, financial investments, and interbank assets grew by 8.5%, 15.6%, and -8.1% year-on-year respectively [5] Deposit and Liability Trends - By the end of Q3 2024, interest-bearing liabilities and deposits grew by 7.4% and 4.5% year-on-year, with a slight decline in growth rates compared to the previous quarter [6] Non-Interest Income - Non-interest income for the first three quarters of 2024 reached 142.4 billion yuan, a year-on-year increase of 21%, with net other non-interest income growing significantly by 49.9% [7] Asset Quality - The non-performing loan (NPL) ratio stood at 1.26% at the end of Q3 2024, with a provision coverage ratio maintained around 200% [8] Capital Adequacy - The capital adequacy ratio as of the end of Q3 2024 was 19.01%, indicating a solid capital buffer for future lending [8][18] Earnings Forecast and Valuation - The company is projected to have earnings per share (EPS) of 0.80, 0.83, and 0.86 yuan for 2024, 2025, and 2026 respectively, with a current price-to-book (PB) ratio of 0.59, 0.55, and 0.51 for the same years [9][19]

FF301 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: 中國銀行股份有限公司(「本公司」) 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) | 03988 | 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 | | | 83,622,276,395 | RMB | | 1 RMB | | 83,622,276,395 | | 增加 / 減少 (-) | | | 0 | | | RMB | | | | 本月底結存 | | | 83,622,276,395 | RMB | | 1 RMB | | 83,622,276,395 | | 2. 股 ...

Investment Rating - The investment rating for the company is "Outperform the Market" [5] Core Views - The company's revenue and profit have turned to positive year-on-year growth, indicating a continuous recovery in performance. For the first three quarters of 2024, the company achieved revenue of 478.35 billion yuan (YoY, +1.64%), with a net profit attributable to shareholders of 175.76 billion yuan (YoY, +0.52%) [1] - The company's total assets grew steadily, reaching 34.07 trillion yuan by the end of September, a year-on-year increase of 7.25%. Loans increased by 8.55% to 21.44 trillion yuan [2] - Non-interest income saw significant growth, with a year-on-year increase of 20.99% to 142.35 billion yuan, driven by a remarkable rise in investment income [3] Summary by Sections Financial Performance - For Q3 2024, the company reported revenue of 161.27 billion yuan (YoY, +6.51%) and a net profit of 57.16 billion yuan (YoY, +4.38%). The annualized weighted average ROE for the first three quarters was 9.55%, showing stable profitability [1] Asset Growth - As of September, the company’s total assets increased by 7.25% year-on-year to 34.07 trillion yuan, with loans growing by 8.55% to 21.44 trillion yuan. The core Tier 1 capital adequacy ratio rose by 0.20 percentage points to 12.23% compared to June [2] Interest Income - The average net interest margin for the first three quarters was 1.41%, down 23 basis points year-on-year. Net interest income decreased by 4.81% to 335.99 billion yuan [2] Non-Interest Income - Non-interest income increased significantly by 20.99% to 142.35 billion yuan, with other non-interest income rising by 49.88% to 81.66 billion yuan, benefiting from high investment returns [3] Asset Quality - The non-performing loan ratio was 1.26% at the end of Q3, slightly up from the previous quarter. The provision coverage ratio was 198.86%, down 2.83 percentage points from the previous quarter [3] Profit Forecast - The company’s profit forecast for 2024-2026 is adjusted to 233.7 billion yuan, 237.5 billion yuan, and 247.4 billion yuan, with corresponding year-on-year growth rates of 0.8%, 1.6%, and 4.2% respectively. The current stock price corresponds to a PE of 5.9, 5.8, and 5.6 times, and a PB of 0.55, 0.51, and 0.48 times [3]