BANK COMM(601328) 证券之星·2025-03-30 09:13Core Viewpoint - The company plans to issue A-shares to specific investors to raise up to RMB 120 billion, which will be used to supplement its core Tier 1 capital and support future business development [1][5][8]. Group 1: Impact Analysis - The issuance will dilute the immediate returns for existing shareholders, affecting key financial metrics such as earnings per share [2][5]. - The total number of ordinary shares will increase from 74,263 million to 88,040 million post-issuance, impacting the weighted average number of shares [3][4]. - The net profit attributable to ordinary shareholders is projected to remain stable or grow by 3% and 6% in different scenarios, affecting earnings per share accordingly [4][5]. Group 2: Necessity and Reasonableness of the Issuance - The issuance is necessary to meet increasing capital regulatory requirements both domestically and internationally, enhancing the company's ability to absorb losses [6][7]. - The company aims to strengthen its role as a major player in supporting the real economy and maintaining financial stability [6][8]. - The core Tier 1 capital adequacy ratio was 10.24% as of the end of 2024, indicating a need for further capital to meet regulatory standards [6][7]. Group 3: Fund Utilization and Management - The raised funds will be entirely used to bolster the company's core Tier 1 capital, which is crucial for sustainable business development [8][9]. - The company emphasizes the importance of effective fund management to mitigate the dilution of immediate returns for shareholders [10][11]. Group 4: Commitment to Shareholder Returns - The company commits to a stable profit distribution policy, ensuring reasonable returns for shareholders through cash dividends [11][12]. - The board and senior management have made commitments to uphold shareholder interests and ensure the effectiveness of the measures to mitigate return dilution [12].