CCB(601939) 上海证券报·2025-03-28 23:34Core Viewpoint - The company reported a stable financial performance for 2024, with a net profit of RMB 336.28 billion, reflecting a growth of 1.15% year-on-year, and plans to distribute a total cash dividend of RMB 1,007.54 billion for the year [18][24][28]. Company Overview - China Construction Bank Corporation is a leading large commercial bank in China, headquartered in Beijing, with a market capitalization of approximately USD 212.43 billion as of the end of 2024, ranking sixth among global listed banks [2]. - The bank serves 771 million individual customers and 11.68 million corporate clients, with a total of 376,847 employees and 14,750 branches [2]. Financial Performance - The total assets of the group reached RMB 40.57 trillion, an increase of 5.86% year-on-year, while net loans and advances amounted to RMB 25.04 trillion, growing by 8.48% [4][18]. - The bank's total liabilities were RMB 37.23 trillion, up 5.90% from the previous year, with customer deposits reaching RMB 28.71 trillion, an increase of 3.83% [18]. - The average return on assets was 0.85%, and the weighted average return on equity was 10.69% [18]. Dividend Distribution - The board proposed a final cash dividend of RMB 0.206 per share (including tax), totaling approximately RMB 515.02 billion, in addition to an interim cash dividend of RMB 0.197 per share distributed earlier [24][28]. - The total cash dividend for the year amounts to RMB 0.403 per share, with a total distribution of approximately RMB 1,007.54 billion [24][28]. Economic Context - The global economic growth momentum was weak in 2024, with China's GDP growing by 5% year-on-year, supported by proactive fiscal and monetary policies [3]. - The domestic financial market remained stable, with a reasonable growth in total financing and a decline in loan interest rates [3]. Future Outlook - The bank aims to enhance its service capabilities and risk management while focusing on high-quality development and expanding its customer base in key sectors [20][21]. - The bank plans to continue its stable cash dividend policy and improve investor relations to enhance market confidence [57][63].