21世纪经济报道·2025-08-31 05:39Group 1 - Core Viewpoint on Shareholder Value: "Being a shareholder of Industrial and Commercial Bank of China (ICBC) should be a relatively happy experience" [1] - Growth Philosophy Declaration: "Constant speed may be the fastest, and balance may be the best. We have always adhered to this concept to promote ICBC's transformation and further high-quality development" [1] - Market Synchronization Positioning: "As a super-scale bank, we are always in resonance with the market and accurately reflect the growth status of the Chinese national economy" [1] Group 2 - Financial Stability Responsibility: "ICBC plays the role of a mainstay bank, a stabilizer. If the stabilizer's speed is extraordinary, its function may not perform well" [1] - Operational Logic Critique: "As a leading bank, we must advance in the same direction as the national economy... A bank of this size turning around indicates a problem in directional choice" [1] - Revenue Structure Metaphor: "Net interest income is the 'big head' of revenue; as a large commercial bank primarily engaged in indirect financing, interest income is our 'staple food'" [2] Group 3 - Investment Value Anchor: "Based on the stock price on August 28, the dividend yield for ICBC's A/H shares is around 4.2% and 5.8%, which should be higher than the long-term funding cost and comparable to some wealth management products, making it a good investment target" [2] - Domestic and International Business Positioning: "Domestic branches are our main base, providing stable momentum for group development; internationalization and diversification are our new bases, offering new growth curves and additional contributions" [2] - Response to Low Interest Margin: "Internationalization and diversification are not only indispensable components but also essential options for us to cope with the low interest margin environment and better serve the new development pattern" [3] Group 4 - National Economy Synchronization: "The national economy reflected in ICBC's balance sheet shows that ICBC is on a trajectory roughly corresponding to China's high-quality economic transformation... We hope to present a better annual report than the semi-annual one, with solid progress in serving the real economy and effectively preventing and resolving risks" [3]