Core Viewpoint - Bank of China International reports that China Construction Bank (00939) is expected to see a year-on-year net profit growth of 2.2% in Q4 2025, with a 0.6% increase in the first three quarters of 2025 [1] Group 1 - The asset quality of China Construction Bank continues to improve, with the non-performing loan ratio decreasing to 1.31% by the end of December 2025, down from 1.32% at the end of September 2025 [1] - The current valuation of China Construction Bank is considered attractive, leading to an increase in the target price from HKD 10.44 to HKD 11.28 [1] - The rating for China Construction Bank is maintained as "Buy" [1]

Group 1 - The core viewpoint of the report is that China Construction Bank's net profit attributable to shareholders is expected to grow by 2.2% year-on-year in Q4 2025, indicating a positive outlook for the bank's financial performance [1] - The asset quality of China Construction Bank continues to improve, with the non-performing loan ratio decreasing to 1.31% by the end of December [1] - The valuation of China Construction Bank is currently considered attractive, leading to an increase in the target price from HKD 10.44 to HKD 11.28, while maintaining a "Buy" rating [1]

Core Viewpoint - China Construction Bank (601939.SH) announced the resignation of its Chief Financial Officer, Sheng Liuyong, due to age reasons, effective March 31, 2026 [1] Group 1 - Sheng Liuyong submitted his resignation to the board of directors [1] - The resignation is attributed to age considerations [1] - The effective date of the resignation is set for March 31, 2026 [1]

Core Viewpoint - China Construction Bank announced the resignation of its Chief Financial Officer, Sheng Liurong, effective March 31, 2026, due to age reasons [1] Group 1 - Sheng Liurong confirmed that there are no disagreements with the board of directors and no other matters need to be communicated to the bank's shareholders [1] - The bank has indicated that Sheng Liurong has completed the necessary handover procedures as required [1]

Core Viewpoint - The resignation of Sheng Liurong as Chief Financial Officer of China Construction Bank (CCB) is effective from March 31, 2026, due to age reasons, and he has made significant contributions during his tenure [1][3]. Group 1: Resignation Announcement - Sheng Liurong submitted his resignation to the board of directors of CCB, which was acknowledged in an official announcement [1]. - CCB expressed gratitude for Sheng's contributions in areas such as asset-liability management, financial compliance, strategic research, and investor relations [1]. Group 2: Career Background - Sheng Liurong, born in November 1965, has over 20 years of experience at CCB, having held various positions including General Manager of the International Business Department and Vice President of the Xiamen Branch [3]. - His roles expanded at the head office, where he served as the head of the Financial Markets Department and the Asset-Liability Management Department before becoming CFO in November 2022 [3]. Group 3: Financial Performance - CCB reported a net interest margin of 1.34% for 2025, with a narrowing decline compared to previous years, indicating a competitive position among peers [4]. - Factors contributing to the stabilization of net interest margin include the completion of loan repricing, a decrease in interest rates on general deposits, and effective asset-liability management [4]. Group 4: Fee-Based Income - CCB achieved a net income from fees and commissions of 110.3 billion yuan in 2025, reflecting a year-on-year growth of 5.13% [5]. - The bank's fee income accounted for 14.89% of operating income, showing an increase in the contribution from asset management and wealth management services [5]. Group 5: Overall Financial Health - As of the end of 2025, CCB's total assets reached 45.63 trillion yuan, with a growth rate of 12.47%, while total liabilities were 41.95 trillion yuan, growing by 12.68% [6]. - The bank reported an operating income of 761.05 billion yuan and a net profit attributable to shareholders of 338.91 billion yuan, with growth rates of 1.88% and 0.99%, respectively [6].

Group 1 - The core point of the article is the resignation of Sheng Liuyong, the Chief Financial Officer of China Construction Bank, due to age reasons, effective March 31, 2026 [1] - Sheng Liuyong's resignation announcement was made on the evening of March 31 [1] Group 2 - The closing price of China Construction Bank's stock was reported at 9.65 yuan [1] - The announcement highlights a significant leadership change within the bank, which may impact its financial strategies moving forward [1]

Core Viewpoint - China Construction Bank (00939.HK) announced the resignation of its Chief Financial Officer, Sheng Liurong, due to age reasons, effective March 31, 2026 [1] Group 1 - Sheng Liurong submitted his resignation to the board of directors [1] - The resignation is attributed to age-related factors [1] - The effective date of the resignation is set for March 31, 2026 [1]

中国建设银行股份有限公司 关于生柳荣首席财务官辞任的公告 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。 股票代码：601939 股票简称：建设银行 公告编号：2026-012 规；加强战略研究与政策协调，推动集团规划落地实施；优化子公司 经营管理，推动集团一体化发展；加强信息披露，做好投资者关系维 护等方面做出重要贡献。 本行董事会对生柳荣先生的重要贡献给予高度评价并深表感谢。 特此公告。 中国建设银行股份有限公司董事会 2026 年 3 月 31 日 中国建设银行股份有限公司（以下简称本行或建设银行）董事会 收到生柳荣先生辞呈。因年龄原因，生柳荣先生提请辞去本行首席财 务官职务。生柳荣先生的辞任自 2026 年 3 月 31 日起生效，具体情况 如下： | 姓名 | 辞任职务 | | 辞任时间 | | | 原定任期 | 辞任原因 | 是否继续在本 行及其控股子 | 具体职务 | 是否存在 未履行完 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | ...

Core Viewpoint - The announcement from China Construction Bank regarding the resignation of its Chief Financial Officer, Sheng Liurong, due to age-related reasons, effective March 31, 2026, highlights a significant leadership transition within the bank [1] Group 1: Resignation Details - Sheng Liurong has requested to resign from the position of Chief Financial Officer due to age reasons, with the resignation effective from March 31, 2026 [1] - After his resignation, Sheng Liurong will not hold any positions within the bank or its subsidiaries and has no outstanding public commitments [1] - The board of directors has expressed high appreciation and gratitude for Sheng Liurong's contributions to the bank [1]

Core Viewpoint - China Construction Bank (601939.SH) announced the resignation of its Chief Financial Officer, Sheng Liuyong, due to age reasons, effective March 31, 2026 [1] Group 1 - Sheng Liuyong submitted his resignation to the board of directors [1] - The resignation is attributed to age considerations [1] - The effective date of the resignation is set for March 31, 2026 [1]