免責聲明 | 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，概不對因 | | | --- | --- | | 公告全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 | | | | 股票發行人現金股息（可選擇貨幣）公告 | | 發行人名稱 | HSBC Holdings plc 滙豐控股有限公司 | | 股份代號 | 00005 | | 多櫃檯股份代號及貨幣 | 不適用 | | 相關股份代號及名稱 | 不適用 | | 公告標題 | 2025年第一次股息 | | 公告日期 | 2025年4月29日 | | 公告狀態 | 新公告 | | 股息信息 | | | 股息類型 | 第一季度 | | 股息性質 | 普通股息 | | 財政年末 | 2025年12月31日 | | 宣派股息的報告期末 | 2025年12月31日 | | 宣派股息 | 每 股 0.1 USD | | 股東批准日期 | 不適用 | | 香港過戶登記處相關信息 | | | 派息金額及公司預設派發貨幣 | HKD， 金額有待公佈 | | 匯率 | 有待公佈 | ...

Financial Performance - The pre-tax profit for Q1 2025 decreased by $3.2 billion to $9.5 billion compared to Q1 2024, primarily due to the absence of a $3.7 billion net impact from the sale of Canadian and Argentine banking operations in Q1 2024 [6]. - The net profit after tax for Q1 2025 was $7.6 billion, a decrease of $3.3 billion from Q1 2024 [6]. - Excluding notable items, the pre-tax profit increased by $1 billion to $9.8 billion, driven by strong performance in wealth management and foreign exchange businesses [6]. - Revenue for Q1 2025 decreased by $3.1 billion to $17.6 billion, reflecting a 15% decline due to the impact of business disposals, particularly in Canada and Argentina [6]. - The company reported a significant increase in adjusted pre-tax profit to $9,766 million for the quarter, compared to $7,241 million in the previous quarter [21]. - The reported pre-tax profit for Q1 2025 was $9.484 billion, a decrease of 25% compared to $12.650 billion in Q1 2024 [34]. - Total revenue for Q1 2025 was $17.649 billion, down 15% from $20.752 billion in Q1 2024 [34]. - The company reported a pre-tax profit of $2.543 billion for Q1 2025, a 10% increase compared to Q1 2024 [76]. Credit Losses - Expected credit losses increased by $200 million to $900 million, reflecting increased provisions due to geopolitical tensions and economic uncertainties [6]. - The expected credit loss provisions as a percentage of total loans are anticipated to remain between 30 to 40 basis points for 2025 [7]. - Expected credit losses increased by 22% to $876 million in Q1 2025 from $720 million in Q1 2024 [34]. - The expected credit loss provisions for the first three months of 2025 were $0.9 billion, up from $0.7 billion in Q1 2024, reflecting the impact of deteriorating future economic outlook [157]. - The expected credit loss provisions for retail loans under a 100% consistent baseline scenario decreased by $0.1 billion, while for wholesale loans it decreased by $0.3 billion [197]. Operating Expenses - Operating expenses remained flat at $8.1 billion, with increases in technology spending and inflation effects offset by the impact of business disposals [6]. - Operating expenses for Q1 2025 were $8.102 billion, slightly up by 1% from $8.151 billion in Q1 2024 [34]. - The target for operating expense growth in 2025 is approximately 3% compared to 2024, with a goal to reduce costs by about $300 million [7]. - Operating expenses for Q1 2025 were stable at $1.1 billion, with no significant changes compared to previous quarters [81]. Capital and Dividends - The common equity tier 1 capital ratio was 14.7%, a decrease of 0.2 percentage points from Q4 2024, primarily due to an increase in risk-weighted assets [6]. - The board approved a dividend of $0.10 per share for Q1 2025 and plans to initiate a share buyback of up to $3 billion following the annual general meeting [6]. - The dividend payout ratio target for 2025 is set at 50%, excluding significant items [7]. - The total equity attributable to shareholders as of March 31, 2025, was $190,810 million, with tangible common equity of $160,398 million [147]. Business Segments Performance - The wealth management business reported a revenue increase of 21% to $2.290 billion in Q1 2025 from $1.893 billion in Q1 2024 [35]. - The wholesale banking business saw a revenue increase of 10% to $2.851 billion in Q1 2025 from $2.597 billion in Q1 2024 [35]. - In Q1 2025, the wholesale banking business recorded fees and other income of $2.9 billion, a 10% increase from Q1 2024, and a 13% increase on a constant currency basis, reflecting growth in global foreign exchange business [13]. - The insurance business showed strong performance with a 13% increase, and new business contract service income from insurance products grew by $1.1 billion, a 44% increase compared to Q1 2024 [13]. Strategic Initiatives - Strategic growth opportunities include enhancing wholesale banking capabilities and expanding wealth management, particularly in Asia [11]. - The company is focused on simplifying its organizational structure and aims to reduce annualized cost base by approximately $1.5 billion by the end of 2026 [11]. - The company plans to maintain a common equity tier 1 capital ratio target range of 14% to 14.5% [7]. - The company aims for an average tangible equity return of approximately 15% annually from 2025 to 2027, excluding significant items [7]. Market Conditions and Economic Outlook - The company continues to monitor economic and financial risks, particularly due to changes in trade policies and geopolitical developments, which could significantly impact operations and financial performance [153]. - The ongoing geopolitical risks, including U.S.-China strategic competition, may affect global supply chains and the company's operations [154]. - The company anticipates that public spending will continue to represent a high proportion of GDP in major economies, which may influence borrowing costs and fiscal sustainability [154]. - The commercial real estate market in mainland China continues to face challenges, with only first-tier cities showing improved sales momentum [155]. Customer Loans and Deposits - Customer loans net amount increased to $944,708 million, compared to $930,658 million in the previous quarter [21]. - The bank's customer deposits totaled $1.67 trillion as of March 31, 2025, compared to $1.66 trillion on December 31, 2024 [67]. - The increase in customer loans was primarily driven by corporate and institutional banking (up $7.2 billion) and international wealth management (up $1.9 billion), offset by declines in Hong Kong operations (down $1.6 billion) and corporate center (down $7.2 billion) [156]. Risk Management - The company employs significant judgment and estimates in measuring expected credit losses, reflecting current economic conditions and potential risks [167]. - The expected credit loss sensitivity analysis indicates that the provisions are highly sensitive to economic forecasts, with significant adjustments based on management's judgment [196]. - The management adjusted the expected credit loss provision by an increase of $300 million as of March 31, 2025, compared to an increase of $100 million on December 31, 2024 [192].

Whether it's through stocks, bonds, ETFs, or other types of securities, all investors love seeing their portfolios score big returns. But when you're an income investor, your primary focus is generating consistent cash flow from each of your liquid investments.Cash flow can come from bond interest, interest from other types of investments, and of course, dividends. A dividend is the distribution of a company's earnings paid out to shareholders; it's often viewed by its dividend yield, a metric that measures ...

Core Viewpoint - HSBC Holdings is expected to report a decline in quarterly revenues and earnings for Q1 2025 compared to the previous year, influenced by rising credit losses and lower revenues [1][2]. Financial Performance Expectations - The consensus estimate for HSBC's earnings is $1.60 per share, reflecting a 5.9% decrease from the same quarter last year [2]. - Sales are estimated at $16.46 billion, indicating a significant 20.7% decline year-over-year [2]. Investment Banking (IB) Revenues - Global M&A activity in Q1 2025 was less robust than anticipated, with only marginal increases in deal value and volume, primarily driven by the Asia Pacific region [3]. - Economic uncertainty, influenced by tariff policy ambiguity and a potential trade war, has led companies to reconsider their M&A strategies, resulting in limited growth in advisory fees for HSBC [3]. IPO and Underwriting Activity - The IPO market shows cautious optimism amid market volatility and rising costs, with some activity in follow-up equity issuances [4]. - Strong bond issuance volume is noted due to solid investor demand, although macroeconomic uncertainties remain [4]. Trading Revenues - Client activity and market volatility were strong in Q1, with concerns over trade wars, inflation, and interest rates affecting client behavior [5]. - HSBC's trading performance is expected to be solid due to increased client activity amid high market volatility [6]. Interest Income - Mixed approaches to interest rate adjustments by global central banks are likely to stabilize funding costs for HSBC, with a modest rise in loan demand anticipated [7]. - Interest income for HSBC is expected to improve in the upcoming quarter [8]. Expense Management - HSBC has historically controlled expenses, but overall costs are expected to be high in Q1 2025 due to efforts to expand market share and enhance digital capabilities [8]. - The company's organizational overhaul is likely to contribute to increased expenses [8]. Earnings Prediction Model - The quantitative model indicates that HSBC may not achieve an earnings beat due to a lack of a positive Earnings ESP and a Zacks Rank of 3 (Hold) [9][10].

Market Overview - US stock index futures are all down before the market opens, with Dow futures down 0.06%, S&P 500 futures down 0.12%, and Nasdaq futures down 0.07% [1] - Major European indices show positive performance, with Germany's DAX up 0.52%, UK's FTSE 100 up 0.11%, France's CAC40 up 0.72%, and the Euro Stoxx 50 up 0.50% [2][3] - WTI crude oil is down 0.33% at $62.81 per barrel, while Brent crude oil is down 0.36% at $65.56 per barrel [3][4] Economic Data and Corporate Earnings - The upcoming week is significant for economic data and corporate earnings, with the April non-farm payroll report and Q1 inflation data being key focuses [5] - 180 S&P 500 companies are set to report quarterly earnings, with major companies like Apple, Amazon, Coca-Cola, Eli Lilly, Meta, Microsoft, and Chevron in the spotlight [5] Corporate Actions - Spirit AeroSystems has reached an agreement with Airbus for the acquisition of certain assets, with Boeing repurchasing its previously divested business for $4.7 billion in stock [8] - Merck has announced a $3.9 billion acquisition of SpringWorks Therapeutics to enhance its oncology drug portfolio, with the deal valued at approximately $3.4 billion in enterprise value [9] - Amazon has seen prices of nearly 1,000 products rise by an average of 30% due to the impact of tariffs, affecting various categories from electronics to clothing [10] Earnings Forecast - Upcoming earnings reports include companies such as NXP Semiconductors, AstraZeneca, BP, Novartis, Deutsche Bank, HSBC, Coca-Cola, Pfizer, UPS, General Motors, Daqo New Energy, and JinkoSolar [11]

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： HSBC Holdings plc 滙豐控股有限公司 呈交日期： 2025年4月28日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 | 是 | | | 證券代號 (如上市) | 00005 | 說明 | | 普通股(每股0.50美元) | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | 庫存股 ...

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文件的內容概不負責，對其準確性或完 整性亦不發表任何聲明，並明確表示，概不對因本文件全部或任何部份內容而產生或因倚賴該等內 容而引致的任何損失承擔任何責任。 HSBC Holdings plc 滙豐控股有限公司 * 集團非執行主席 † 獨立非執行董事 香港股份代號 : 5 HSBC Holdings plc 滙豐控股有限公司 註冊辦事處及集團總管理處： 8 Canada Square, London E14 5HQ, United Kingdom 網站：www.hsbc.com 英格蘭及威爾斯註冊有限公司。註冊編號 617987 海外監管公告 所附的公告已經在HSBC Holdings plc滙豐控股有限公司上市的其他證券交易所發布。 於本公告發表之日，滙豐控股有限公司董事會成員包括：杜嘉祺爵士*、艾橋智、鮑哲鈺†、段小纓†、 范貝恩女爵士†、傅偉思†、高安賢†、古肇華†、郭珮瑛、麥浩智博士†、莫佩娜†、梅愛苓†、利伯特†及 張瑞蓮†。 | 購買日期： | 2025 年 | 4 | 月 | 25 | 日 | | --- | --- | --- | --- | ...

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： HSBC Holdings plc 滙豐控股有限公司 呈交日期： 2025年4月25日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 | 是 | | | 證券代號 (如上市) | 00005 | 說明 | | 普通股(每股0.50美元) | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | 庫存股 ...

Group 1 - HSBC Holdings reduced its stake in Miniso from 9.27% to 8.67% as of April 17 [1]

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： HSBC Holdings plc 滙豐控股有限公司 呈交日期： 2025年4月24日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 | 是 | | | | 證券代號 (如上市) | 00005 | 說明 | 普通股(每股0.50美元) | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | 庫存股 ...