Core Viewpoint - Agricultural Bank successfully issued 30 billion TLAC bonds in the interbank market, marking the first combination issuance of three maturities in the financial bond market this year [1] Summary by Categories Issuance Details - The bond issuance consists of three maturities: 150 billion for 3+1 years at an interest rate of 1.83%, 30 billion for 5+1 years at an interest rate of 1.87%, and 120 billion for 10+1 years at an interest rate of 2.06% [1] Financial Strategy - The bank has set up a mechanism for additional issuance, with an excess issuance of 10 billion allocated entirely to the 10+1 year maturity, which helps ensure compliance with TLAC requirements while further optimizing the liability structure [1]

Core Viewpoint - China Construction Bank plans to issue A-shares to raise up to RMB 105 billion to enhance its core tier one capital, supporting future business development and improving risk resilience [2][8]. Fundraising Purpose - The raised funds will be used entirely to supplement the bank's core tier one capital, which is essential for supporting future business growth [2]. Necessity of the Issuance - The issuance is necessary to support high-quality development of the real economy, enhance risk absorption capacity, meet TLAC regulatory requirements, and improve long-term sustainable development capabilities [3][4][5]. Feasibility of the Issuance - The issuance complies with relevant laws and regulations, and it is deemed feasible. The bank aims to enhance its competitive advantage and provide high-quality financial services [3][6]. Impact on Financial Management - The issuance will strengthen the bank's capital base, optimize its capital structure, and enhance its risk resilience. It will also have implications for net assets, capital adequacy ratio, and profitability [7][8]. Summary - The issuance is strategically significant for the bank's long-term development and shareholder value enhancement, ensuring efficient use of raised funds [8].