Financial Data and Key Metrics Changes - The company reported a record profit before tax of $32.3 billion, or $34.1 billion excluding notable items, with a return on tangible equity of 14.6%, or 16% excluding notable items, aligning with mid-teens targets [7][22][23] - A total of $26.9 billion was distributed to shareholders for 2024, including $0.87 per share in dividends and $11 billion in share buybacks [7][22] Business Line Data and Key Metrics Changes - Banking net interest income (NII) remained stable, with expectations of around $42 billion in 2025, despite lower interest rates impacting growth [40][41] - Wealth management saw a significant increase, with a 27% year-on-year growth in the fourth quarter, marking the fourth consecutive quarter of double-digit growth [44][48] Market Data and Key Metrics Changes - The company attracted approximately 800,000 new personal banking customers in Hong Kong in 2024, indicating strong market growth [45][46] - The deposit base increased to $1.7 trillion, with a 3% rise in deposits during the fourth quarter, supported by customer growth and seasonality [57][58] Company Strategy and Development Direction - The company is focusing on simplifying its structure and reallocating $1.5 billion from non-strategic activities to priority growth areas, particularly in Asia and the Middle East [13][54] - Plans include expanding wealth centers in Hong Kong and enhancing transaction banking capabilities in high-growth markets [26][28] Management's Comments on Operating Environment and Future Outlook - The management expressed confidence in achieving mid-teens return on tangible equity in 2025, 2026, and 2027, despite challenges in the operating environment [24][60] - The outlook for global trade remains positive, with expectations of low-single-digit growth, benefiting from the bank's strong presence in key markets [105] Other Important Information - The company plans to incur approximately $1.8 billion in severance and upfront costs related to organizational simplification, with expected annualized savings of $1.5 billion by the end of 2025 [12][52] - The CET1 ratio stands at 14.9%, above the target range of 14% to 14.5%, providing a strong capital position for future growth [58][95] Q&A Session Summary Question: CIB Return on Tangible Equity Outlook - Management indicated that while specific medium-term returns for CIB were not provided, the business would benefit from cost synergies and improved capital allocation efficiencies [66][67] Question: Incremental Technology in International Wealth - Management emphasized the importance of investing in technology to enhance market share in cross-border wealth management, with a focus on integrating new platforms into existing services [70][72] Question: Cost Reallocation and Revenue Expectations - Management clarified that reallocating $1.5 billion from low-return activities is expected to yield higher returns, particularly in wealth and transaction banking, which are low capital-consuming businesses [82][84] Question: CET1 Ratio and Future Capital Management - Management confirmed comfort with the CET1 ratio target of 14% to 14.5%, with no immediate plans to lower it further, focusing instead on growth opportunities [94][95] Question: Loan Growth Challenges - Management acknowledged recent flat loan growth but expressed optimism for stabilization and potential growth as interest rates stabilize [121][122]

Shareholder Information - HSBC Holdings plc reported a total of 17,946,950,582 ordinary shares outstanding as of December 31, 2024[11]. - The company repurchased 11% of the issued share count since the start of 2023, leading to a total shareholder return of over 30% for the year[102]. - The total dividend announced for 2024 is $0.87 per share, which includes a special dividend of $0.21 per share paid in June[101]. - The Board approved a fourth interim dividend of $0.36 per share, totaling $0.87 per share for 2024, including a special dividend of $0.21[63]. - The company paid $5.5 billion in ordinary dividends for 2024 and plans to repurchase $11 billion of shares for cancellation[188]. - The company announced $26.9 billion in returns to shareholders through dividends and share buy-backs in 2024[121]. Financial Performance - Profit before tax increased by $2.0 billion to $32.3 billion, compared to $30.3 billion in 2023[48]. - In 2024, the company reported a profit before tax of $32.3 billion, up from $30.3 billion in 2023, achieving a return on average tangible equity (RoTE) of 14.6%[125]. - Revenue for 2024 was $65.9 billion, stable compared to 2023, but grew by 5% on a constant currency basis[155]. - Net interest income decreased to $32.7 billion from $35.8 billion in 2023[48]. - Operating expenses rose by 3% to $33.0 billion, primarily due to increased technology investment and inflation[62]. - Revenue in the Wealth segment grew by 18% in 2024, with a 21% increase in fee and other income[105]. - Transaction banking revenue was $26.3 billion, stable compared to 2023, facilitating over $850 billion in trade[162]. - Customer deposit balances reached $1.65 trillion, an increase from $1.61 trillion in 2023, while customer loans decreased slightly to $0.93 trillion from $0.94 trillion[179]. Capital and Risk Management - Common equity tier 1 capital ratio improved to 14.9% from 14.8% in 2023[50]. - The common equity tier 1 (CET1) capital ratio was reported at 14.9%, reflecting the company's financial strength[125]. - The common equity tier 1 (CET1) capital ratio increased from 14.8% to 14.9% as of December 31, 2024, with a target range of 14% to 14.5% over the medium term[188]. - Expected credit losses (ECL) were stable at $3.4 billion, with ECL as a percentage of average gross loans at 36 basis points[62]. Strategic Initiatives - HSBC's strategic priorities include successful execution of planned acquisitions and the integration of acquired businesses into its operations[31]. - The company is focusing on long-term strategic growth by optimizing cost and capital allocation, including the planned sale of several businesses[104]. - HSBC completed the acquisition of Citi's retail wealth management portfolio in mainland China and SilkRoad Property Partners Group in Singapore[174]. - The Group plans to further reshape its operations to align with its four new business segments effective January 1, 2025[175]. - HSBC aims to create a simpler and more dynamic organization by restructuring into four new business units[127]. Economic and Market Conditions - HSBC's financial performance is influenced by changes in economic conditions, including inflationary pressures and fluctuations in employment levels[27]. - Forward-looking statements indicate potential impacts from geopolitical tensions, including the Russia-Ukraine war and conflicts in the Middle East, on HSBC's financial condition and operations[23]. Customer Growth and Engagement - The company added approximately 800,000 new-to-bank customers in Hong Kong, indicating strong customer growth[105]. - In Hong Kong, reported revenue was $21.2 billion, an increase of 6%, with 799,000 new-to-bank customers in WPB, a 66% growth compared to 2023[163]. - Customer accounts increased by $43bn on a reported basis and $75bn on a constant currency basis, primarily driven by growth in Asia[63]. Environmental, Social, and Governance (ESG) Commitments - HSBC is committed to its ESG ambitions, including targets to reduce financed emissions and achieve net zero carbon emissions[31]. - The company is focused on developing sustainable finance and ESG-related products to meet evolving regulatory expectations[31]. - HSBC is on track to achieve a reduction in scope 1 and 2 emissions of over 90% by 2030 compared to the 2019 baseline[198]. - HSBC aims to support customers transitioning to a net zero economy, adapting financing choices to promote resilience and sustainability[200]. - HSBC's reporting currency is U.S. dollars, and it has embedded ESG reporting within its annual financial disclosures[20]. Operational Efficiency - HSBC plans to achieve an annualized reduction of $1.5 billion in its cost base by the end of 2026[58]. - The company targets a mid-teens return on average tangible equity (RoTE) from 2025 to 2027, excluding notable items[64]. - HSBC plans to generate approximately $0.3 billion in cost reductions in 2025, with an annualized reduction of $1.5 billion expected by the end of 2026[184]. - Target basis operating expenses rose by 5%, reflecting higher spend in technology and inflation impact[63]. Market Presence - HSBC has a significant presence in the global market, with shares traded on multiple international exchanges[5]. - The company is registered under the Securities Exchange Act of 1934, ensuring transparency and regulatory compliance[3]. - HSBC's securities are registered on multiple exchanges, including the London Stock Exchange and the New York Stock Exchange[5].

Financial Performance - Profit before tax for 2024 increased by $2.0 billion to $32.3 billion, with notable items contributing a net favorable impact of $1.0 billion[4]. - Revenue for 2024 was stable at $65.9 billion, with constant currency revenue excluding notable items rising by $2.9 billion to $67.4 billion[6]. - In 2024, the profit before tax was $32.3 billion, an increase of $2.0 billion compared to 2023[43]. - Profit before tax for the year ended December 31, 2024, was $32,309 million, an increase of 6.4% from $30,348 million in 2023[85]. - Profit before tax for 2024 was reported at $32.309 billion, compared to $30.348 billion in 2023, indicating a growth in profitability[164]. - Constant currency profit before tax for 2024 reached $32,309 million, an increase from $30,348 million in 2023, representing a growth of 6.5%[96]. - Profit attributable to ordinary shareholders of the parent company was $22,917 million, up from $22,432 million, reflecting a growth of 2.2%[85]. - Basic earnings per share increased to $1.25 in 2024 from $1.15 in 2023, reflecting an increase of 8.7%[85]. - The return on average tangible equity (RoTE) was 14.6%, or 16.0% excluding notable items[63]. Revenue and Income - Revenue for 2024 was reported at $65.854 billion, a slight decrease from $66.058 billion in 2023[34]. - Net operating income before change in expected credit losses for 2024 was $65,854 million, slightly down from $66,058 million in 2023, a decrease of 0.3%[97]. - Total interest received rose to $110,106 million in 2024, compared to $98,910 million in 2023[122]. - Strategic investments in Wealth generated an 18% revenue growth in 2024, with a 21% increase in fee and other income[48]. Expenses and Costs - Net interest income decreased by $3.1 billion to $43.7 billion, reflecting higher funding costs and business disposals[7]. - Operating expenses grew by $1.0 billion or 3% to $33.0 billion, primarily due to higher technology investments and inflation[10]. - Total operating expenses for 2024 were $33,043 million, up from $32,070 million in 2023, an increase of 3.0%[97]. - The constant currency cost efficiency ratio improved to 50.2% in 2024 from 48.5% in 2023[96]. - The company plans to achieve approximately $0.3 billion in cost reductions in 2025, with an annualized reduction of $1.5 billion expected by the end of 2026[22]. Customer Growth - Customer accounts rose by $43 billion on a reported basis, and $75 billion on a constant currency basis, indicating growth across all global businesses[12]. - Customer accounts increased to $1,654,955 million in 2024, compared to $1,611,647 million in 2023, marking an increase of 2.7%[85]. - Customer accounts rose to $1.654 trillion in 2024, up from $1.579 trillion in 2023, showing strong customer growth[162]. Capital and Dividends - The common equity tier 1 (CET1) capital ratio increased to 14.9%, up by 0.1 percentage points, supported by capital generation and reduced risk-weighted assets[13]. - The Board approved a total dividend of $0.87 per share for 2024, including a special dividend of $0.21 per share[14]. - Total dividends paid to shareholders for 2024 amounted to $15.348 billion, an increase from $10.492 billion in 2023, reflecting a per share increase from $0.53 to $0.82[150]. - Dividends on ordinary shares increased significantly to $15,348 million in 2024 from $10,492 million in 2023, representing a growth of 46.5%[85]. Assets and Liabilities - Total assets decreased slightly to $3,017,048 million in 2024 from $3,038,677 million in 2023, a decline of 0.7%[85]. - Total external assets for 2024 were $3,017,048 million, compared to $2,972,547 million in 2023, reflecting a growth of 1.5%[93]. - Total liabilities decreased to $2,824,775 million in 2024 from $2,846,067 million in 2023, a decline of about 0.7%[106]. Taxation - The effective tax rate for 2024 was 22.6%, up from 19.1% in 2023, primarily due to a non-deductible loss from the sale of HSBC Argentina[138]. - The Group recorded a Pillar Two global minimum tax charge of $221 million, related to non-taxation of dividends and income on government bonds in Hong Kong[139]. - The tax impact of the sale of HSBC Argentina increased the tax charge by $1,536 million, while the non-taxable gain from the sale of HSBC Canada reduced it by $1,174 million[137]. Legal and Regulatory Matters - HSBC is involved in various legal proceedings and regulatory matters, with significant claims including $543 million from Madoff Securities and $2.5 billion from Herald Fund SPC[178][180]. - HSBC is defending against claims from the Fairfield Funds seeking $382 million, with some claims dismissed but others ongoing[179]. - HSBC faces litigation from Alpha Prime Fund Limited for $1.16 billion, with actions pending in the Luxembourg District Court[181]. - HSBC is involved in a class action lawsuit related to the manipulation of silver prices, which seeks unspecified damages and is currently pending appeal[193]. - The company is also defending against allegations of anti-competitive behavior in the foreign exchange market, with claims seeking approximately £3 billion in damages[191].

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。 2025 年 2 月 20 日 代表 滙豐控股有限公司 公司秘書長 戴愛蘭 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†。 * 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 股份回購 隨附之公告現正於 HSBC Holdings plc 滙豐控股有限公司上市之證券交易所發布。 滙豐與 Merrill Lynch International（「Merrill Lynch」）已訂立多項不可撤回之非全權委託回購協議， 讓 Merrill Lynch（作為主事人）可於 2025 年 2 月 21 日至不遲於 2025 年 4 月 25 日期間購買（視乎監 管機構之批准是否仍然有效）總值最 ...

Core Viewpoint - HSBC Holdings reported a significant increase in pre-tax profit for Q4 2024, reaching $2.23 billion, compared to $977 million in the same quarter last year [1] Financial Performance - Total revenues for HSBC were $11.56 billion, reflecting an 11.2% decrease year over year, primarily due to lower other operating income [3] - Operating expenses slightly declined to $8.6 billion [3] - Expected credit losses (ECL) amounted to $1.36 billion, marking a 32.1% increase year over year [3] Business Segment Performance - Wealth and Personal Banking segment reported a pre-tax profit of $2.5 billion, a substantial increase from $175 million in the previous year, driven by higher total operating income [4] - Commercial Banking segment's pre-tax profit was $2.4 billion, down 3.9% from the prior year due to higher ECL charges and increased expenses [4] - Global Banking and Markets saw a pre-tax profit of $1.4 billion, up 37.4% year over year, attributed to higher total operating income [5] - Corporate Centre reported a pre-tax loss of $4 billion, compared to a $2.7 billion loss in the same quarter last year [5] Future Outlook - For 2025, HSBC anticipates banking net interest income (NII) of $42 billion and targets a 3% year-over-year growth in operating expenses [6] - The company expects to incur $1.8 billion in expenses related to business overhaul by the end of 2026, which is projected to yield annualized cost savings of $1.5 billion by the end of next year [6] - ECL charges are expected to be between 30 and 40 basis points as a percentage of average gross loans for 2025 [6] Capital Management - HSBC aims for a return on average tangible equity in the mid-teens from 2025 to 2027, excluding notable items [7] - The company plans to maintain its common equity tier 1 (CET1) ratio within a medium-term target of 14-14.5% [7] - A dividend payout ratio of 50% is expected for 2025, along with a share buyback program of up to $2 billion, likely to be completed by the end of April [7] Competitive Landscape - Competitors like Barclays and UBS reported improved financial results in Q4 2024, driven by increased revenues and lower operating expenses, although they also faced rising credit impairment charges [9][10]

Core Viewpoint - HSBC Holdings PLC has agreed to sell its retail banking operations in Bahrain to the Bank of Bahrain and Kuwait as part of its global restructuring plan, excluding corporate and private banking businesses in the region [1] Group 1: Restructuring and Strategic Shift - The sale aligns with HSBC's transformation plan aimed at improving operating efficiency and shifting focus towards the Asian region, which was announced in 2020 [2] - HSBC has been scaling back operations in underperforming regions to reduce costs and accelerate its strategic shift towards Asia [3] Group 2: Recent Developments and Initiatives - HSBC has recently laid off nearly 40 investment bankers in Hong Kong and plans to close its mergers and acquisitions and some equities businesses in Europe and the Americas to enhance focus on Asia [4] - The company agreed to sell its French life insurance arm to Matmut Société d'Assurance Mutuelle in December 2024, and has also sold its private banking business in Germany and its South Africa business to FirstRand Bank and Absa [5] - HSBC announced a partnership with Bajaj Allianz General Insurance in India to strengthen its insurance solutions business and acquired Citigroup's retail wealth management business in China [6] Group 3: Industry Context - Other European banks, such as Deutsche Bank and UBS, are also focusing on streamlining their global operations and enhancing performance in specific regions, indicating a broader trend in the banking industry [7][8] Group 4: Performance Metrics - Over the past year, HSBC shares have increased by 39.2%, outperforming the industry's growth of 25.3% [9]

Core Insights - HSBC announced cost-cutting plans aiming to save $300 million in 2025 and reduce its cost base by $1.5 billion by the end of 2026, with upfront costs of $1.8 billion over the next two years [1][7]. Financial Performance - HSBC reported annual pre-tax profits of $32.3 billion, an increase of $2 billion from 2023, but below LSEG analysts' estimates of $32.63 billion. Revenues were $65.85 billion, slightly below forecasts of $66.52 billion [3]. Stock Performance - HSBC's stock reached a 20-year high, increasing 40% over the past 12 months and 14% this year, although it dipped 0.8% to £8.91 on Wednesday, valuing the bank at approximately £160 billion ($201 billion) [2]. Strategic Changes - The new CEO, Georges Elhedery, is restructuring the bank by simplifying its structure into "eastern markets" (Asia-Pacific and Middle East) and "western markets" (UK, Europe, and Americas), and reducing the investment banker headcount [4]. Shareholder Returns - HSBC plans to initiate a share buyback program worth up to $2 billion as part of its strategy to enhance shareholder value [5]. Analyst Perspectives - Analysts express cautious optimism regarding HSBC's cost-cutting measures, noting that while the plans are positive, they do not present significant new initiatives. The focus on efficiency is seen as a series of small, coordinated steps [2][6].

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2月19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 | | 庫存股份變動 | | | | | 事件 ...

代扣所得稅信息 股息所涉及的代扣所得稅 不適用 發行人所發行上市權證/可轉換債券的相關信息 發行人所發行上市權證/可轉換債券 不適用 其他信息 董事會於2025年2月19日批准就截至2024年12月31日止財政年度派發第四次股息每股普通股0.36美元（股息），預期分派金額約 為64億美元。是項股息將於2025年4月25日派付予2025年3月7日名列英國主要股東名冊、香港海外股東分冊或百慕達海外股東分 冊之股東。滙豐並無就2024年第四次股息於財務報表內記錄負債。 股息將以美元、英鎊或港元（按位於倫敦之英國滙豐銀行有限公司於2025年4月14日上午11時正或前後所報遠期匯率換算）派發。 在倫敦、香港及百慕達買賣的普通股將於2025年3月6日除息報價。在紐約買賣的美國預託股份則將於2025年3月7日除息報價。 對於英國主要股東名冊，股息之預設派發貨幣為英鎊，亦可以港元或美元，或此等貨幣之組合派發。國際股東可登記參與全球股息 服務(Global Dividend Service)，以當地貨幣收取股息。請於www.investorcentre.co.uk登記及查閱有關條款及細則。英國股東亦 可於www.investo ...

香港股份代號 : 5 非登記股東如欲更改銀行指示或股息貨幣選擇偏好，應聯絡並指示持有其股份的相關中介機構（例如銀行、經紀、託管人、代名人或香港中央結算 ( 代理人 ) 有 限公司）採取行動。 請用黑色筆， 以正楷於方格 內填寫各項。 股息貨幣選擇表格 對於香港海外股東分冊，股息之預設派發貨幣為港元，亦可以美元或英鎊，或此等貨幣之組合派發。閣下可填寫本表格，更改股息的貨幣選擇。 此乃要件 請即處理。倘閣下對本文件或應採取之行動有任何疑問，應諮詢股票經紀、律師、會計師或其他適當之獨立專業顧問。本通知適用於下文所列登記持 有人，不得轉讓。英國及英國以外地區之稅務影響一般概要載於滙豐控股有限公司現行《年報及賬目》的「股東參考資料」一節。股東應向其稅務顧問諮詢相 關稅務責任。滙豐控股有限公司派發之股息現時並無預扣任何稅項。 股份登記處可安排將港元現金股息直接存入閣下的銀行戶口，亦可安排寄發美元及 / 或英鎊支票以入賬至閣下的銀行戶口。閣下可在股份登記處之投 資者中心網頁（www.investorcentre.com/hk）登記或更改銀行指示。閣下需預先在該投資者中心網頁登記，方可使用這項設施。請即採取行動，以 便閣下有 ...