南向资金今日大幅净买入116.94亿元。港股通（沪）方面，阿里巴巴-W、腾讯控股分别获净买入23.21 亿港元、12.25亿港元；中芯国际净卖出额居首，金额为3.12亿港元；港股通（深）方面，腾讯控股、建 设银行分别获净买入7.35亿港元、6.08亿港元；美团-W净卖出额居首，金额为1.09亿港元。 ...

【编者按：ESG年报解读是搜狐财经及价值公司100联合发起的针对各公司ESG报告披露情况的解读专栏。参考上交所《上市公司治理准则》、港交所《环 境、社会及管治守则》等文件，迭代完善各行业ESG星级测评体系标准，并以最新标准为依托，以2024年公司ESG报告为主要数据来源，对公司2024年环境 资源、社会责任及公司管治进行评价】 ——本文为"建设银行"篇。 出品 | 搜狐财经 研究员 | 王晓潇 19张罚单提到收费违规现象。罚单显示，部分收费项目超出既定收费价目名录范围，同时，存在服务与收费不匹配的现象，部分服务未能体现出与收费相对 应的实质价值。 另有8张罚单指出银行员工行为管理不到位，7张罚单说明银行存在违规允许保险公司人员在营业场所销售保险等情况。 面对前述合规经营方面的挑战，尽管建行并未在 ESG 报告中有过多表述。目前，在建行2024年ESG工作实质性议题矩阵中，"合规经营"议题也并未进入核 心位置。 不过，建行也在ESG报告中表示，会确保商业道德标准审计每年覆盖本行所有机构。2024年，建行对10家境内一级分行及总行本级开展案件风险防控管理审 计；并针对全部37家境内一级分行，开展员工重点操作风险事 ...

4月8日上榜港股通成交活跃榜个股中，建设银行为近一个月首次上榜。 （文章来源：证券时报网） 以上榜次数统计，4月8日上榜个股中，近一个月上榜次数最多的是阿里巴巴-W、腾讯控股等，近一个 月均上榜21次，最受港股通资金关注。 建设银行为近一个月首次上榜，当日港股通成交额为15.53亿港元，成交净买入8.43亿港元，该股当日收 盘下跌0.96%。（数据宝） 4月8日港股通成交活跃股榜单 | 证券 | 证券简称 | 成交金额（亿 | 净买入金额（亿 | 近一个月上榜 | 最新收盘价 | 日涨跌幅 | | --- | --- | --- | --- | --- | --- | --- | | 代码 | | 港元） | 港元） | 次数 | （港元） | （%） | | 00700 | 腾讯控股 | 160.50 | 29.85 | 21 | 440.400 | 1.15 | | 00981 | 中芯国际 | 69.43 | 8.40 | 21 | 39.150 | 3.85 | | 01810 | 小米集团 W | 179.48 | 3.41 | 21 | 38.900 | 6.72 | 注：本文系新闻报道，不构成投 ...

净息差降幅收窄，存款成本改善。2024 年净息差较二季度末下降3bps 至1.51%，降幅边际收窄。活期存 款占比维持42.43%高位，存款付息率1.65%，同比下降12BPs。 盈利预测和投资评级：建设银行四季度单季营收净利同比增速较上年同期回暖，资产质量保持稳健，拨 备安全垫夯实，其他非息收入高增亮点突出，负债成本改善，息差企稳可期。首次覆盖，给予"买入"评 级。但同时需关注到2024 年末零售端消费贷和信用卡不良率较二季度末上升，反映居民消费信贷质量 压力仍存，需关注经济复苏节奏对银行资产质量的持续影响。我们预测2025-2027 年营收为7745.83 亿 元、8189.58 亿元、8749.92 亿元，同比增速为3.26%、5.73%、6.84%；归母净利润为3386.91 亿元、 3482.71 亿元、3598.82亿元，同比增速为0.93%、2.83%、3.33%，EPS 为1.33、1.36、1.41 元；P/E 为 6.73、6.54、6.32 倍，P/B 为0.66、0.61、0.57 倍。 风险提示：金融监管政策发生重大变化；房地产领域风险集中暴露；经济回暖过程中发生黑天鹅事件； 债券市 ...

Core Viewpoint - China Construction Bank reported a slight decline in operating revenue and profit for 2024, but net profit showed a modest increase, indicating stable asset quality and improved interest margins [1][2]. Financial Performance - The bank achieved operating revenue of 750.15 billion yuan, down 2.5% year-on-year, and operating profit of 384.27 billion yuan, down 1.3% year-on-year [1]. - Net profit attributable to shareholders was 335.58 billion yuan, reflecting a year-on-year growth of 0.88% [1][2]. - The non-performing loan (NPL) ratio decreased by 1 basis point to 1.34%, while the provision coverage ratio fell by 3.4 percentage points to 233.6% [1][4]. Quarterly Analysis - In Q4 2024, revenue showed a slight year-on-year decline of 0.1%, with net interest income increasing by 7.5% due to improved interest margins [2]. - The bank's interest margin rose by 4 basis points to 1.49%, primarily due to a reduction in funding costs [4]. - The structure of interest-earning assets was adjusted, with retail loan growth showing marginal improvement, while corporate loan growth slowed [3]. Asset Quality - The overall asset quality remained stable, with a decrease in the NPL ratio and a reduction in credit impairment losses by 11.8% year-on-year [2][4]. - The NPL ratio for corporate loans decreased by 4 basis points to 1.57%, while retail loans saw an increase in NPL ratio by 14 basis points to 0.97% [4]. Investment Outlook - The bank's interest margin recovery and improved credit structure suggest a positive outlook, with revenue growth forecasts adjusted to 0.3%, 4.2%, and 5.6% for 2025-2027 [5]. - The target price for the bank's stock is set at 10.13 yuan, with a projected price-to-book (PB) ratio of 0.75x for 2025 [5].

Group 1 - The company will hold its first extraordinary general meeting of shareholders on April 22, 2025 [1][3] - Voting will be conducted through the Shanghai Stock Exchange's online voting system, with specific time slots for trading and internet voting [1][3] - The meeting will take place at 14:45 on April 22, 2025, at a designated location in Beijing [3][7] Group 2 - The agenda includes various proposals for shareholder approval, including feasibility reports and stock issuance matters [4][10] - The meeting will allow both on-site and online voting, ensuring participation from shareholders [3][5] - Shareholders must register for the meeting and can delegate their voting rights to representatives [7][9]

Core Viewpoint - China Construction Bank plans to hold its first extraordinary general meeting of shareholders in 2025, where several key proposals will be discussed, including financial bond issuance, profit distribution, and the election of new directors [1][3][10]. Proposal Summaries - **Proposal 1: Annual Financial Bond Issuance Plan** The bank proposes to issue financial bonds not exceeding 745 billion RMB in 2025, subject to regulatory approvals [1][2]. - **Proposal 2: 2024 Profit Distribution Plan** The bank plans to distribute a total cash dividend of 1,007.54 billion RMB for 2024, with a dividend payout ratio of 30%, translating to 0.403 RMB per share [3][4]. - **Proposal 3: Election of Non-Executive Director** Li Li is nominated to serve as a non-executive director for a term of three years, pending regulatory approval [5][6]. - **Proposal 4: Election of Independent Director** Zhang Weiguo is nominated as an independent director for a three-year term, also subject to regulatory approval [7][8]. - **Proposal 5: Conditions for Issuing A Shares to Specific Objects** The bank seeks to issue A shares to specific investors to support high-quality economic development and enhance capital structure [10][11]. - **Proposal 6: Specific A Share Issuance Plan** The bank plans to issue A shares at a price of 9.27 RMB per share, with a total issuance not exceeding 1,050 billion RMB [11][14]. - **Proposal 7: Feasibility Analysis Report** A report on the feasibility of the A share issuance is prepared to support the proposal [17][18]. - **Proposal 8: Dilution of Immediate Returns and Compensation Measures** The bank has prepared a report addressing the potential dilution of immediate returns from the A share issuance and related compensation measures [19][20]. - **Proposal 9: Future Shareholder Return Plan** A three-year shareholder return plan (2025-2027) is proposed to ensure reasonable and stable returns for shareholders [21][22]. - **Proposal 10: No Need for Previous Fund Usage Report** The bank states that there is no need to prepare a report on the usage of previously raised funds, as it has not raised funds through certain methods in the last five years [23][24]. - **Proposal 11: Signing of Subscription Agreement** The bank has signed a conditional subscription agreement with the Ministry of Finance for the A share issuance [25][26]. - **Proposal 12: Strategic Investment from the Ministry of Finance** The bank aims to introduce strategic investment from the Ministry of Finance through the A share issuance [21][22]. - **Proposal 13: Authorization for Board to Handle Issuance Matters** The bank seeks authorization for the board to manage all matters related to the A share issuance [22][23].

本行董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 一、召开会议的基本情况 (一) 股东大会类型和届次 2025 年第一次临时股东大会、2025 年第一次 A 股类别股东大会、2025 年 第一次 H 股类别股东大会 1 股东大会召开日期：2025年4月22日 本次股东大会采用的网络投票系统：上海证券交易所股东大会网络投票系统 (二) 股东大会召集人：董事会 (三) 投票方式：本次股东大会所采用的表决方式是现场投票和网络投票相结合 的方式 (四) 现场会议召开的日期、时间和地点 证券代码：601939 证券简称：建设银行 公告编号：2025-021 日期时间：2025 年 4 月 22 日 14:45 中国建设银行股份有限公司 关于召开 2025 年第一次临时股东大会、 2025 年第一次 A 股类别股东大会、 2025 年第一次 H 股类别股东大会的通知 (五) 网络投票的系统、起止日期和投票时间 (六) 融资融券、转融通、约定购回业务账户和沪股通投资者的投票程序 涉及融资融券、转融通业务、约定购回业务相关账户以及 ...

中国建设银行股份有限公司 2025 年第一次临时股东大会、2025 年第一次 A 股类别股东大会、2025 年第一次 H 股类别股东大会资料 中国建设银行股份有限公司 2025 年第一次临时股东大会、 2025 年第一次 A 股类别股东大会、 2025 年第一次 H 股类别股东大会 会议资料 中国建设银行股份有限公司董事会 二〇二五年四月三日 1 中国建设银行股份有限公司 2025 年第一次临时股东大会、2025 年第一次 A 股类别股东大会、2025 年第一次 H 股类别股东大会资料 2025 年第一次临时股东大会文件目录 审议事项 2 1. 关于集团金融债券年度发行计划的议案 2. 关于中国建设银行股份有限公司 2024 年度利润分配方案的议案 3. 关于选举李莉女士担任本行非执行董事的议案 4. 关于选举张为国先生担任本行独立董事的议案 5. 关于中国建设银行股份有限公司符合向特定对象发行 A 股股票条 件的议案 6. 关于中国建设银行股份有限公司向特定对象发行 A 股股票方案的 议案 7. 关于《中国建设银行股份有限公司向特定对象发行 A 股股票方案的 论证分析报告》的议案 8. 关于《中国建设银行股 ...

Investment Rating - The report maintains a "Recommended" rating for the company, with a target price of 10.13 CNY / 7.91 HKD [6][10]. Core Views - The bank's net interest margin has increased against the trend, and retail loan growth has shown marginal improvement. The bank reported a total operating income of 750.15 billion CNY for 2024, a year-on-year decrease of 2.5%, while net profit attributable to shareholders increased by 0.88% to 335.58 billion CNY [2][10]. - The asset quality remains stable, with a non-performing loan ratio decreasing by 1 basis point to 1.34%, and the provision coverage ratio declining by 3.4 percentage points to 233.6% [2][10]. Financial Performance Summary - **2024 Financial Indicators**: - Total operating income: 750,151 million CNY, down 2.54% year-on-year - Net profit attributable to shareholders: 335,577 million CNY, up 0.88% year-on-year - Earnings per share: 1.29 CNY - Price-to-earnings ratio: 6.82 [5][10]. - **Future Projections**: - Revenue growth forecast for 2025-2027 is adjusted to 0.3%, 4.2%, and 5.6% respectively, with net profit growth forecasted at 1.1%, 2.0%, and 3.8% [10][11]. Asset Quality and Loan Growth - The bank's asset quality is on an improving trend, with a non-performing loan ratio of 1.34% and a net generation rate of non-performing loans at 0.41% [10][11]. - Retail loan growth has improved marginally, with a year-on-year increase of 8.3% in Q4 2024, while corporate loan growth has slowed [10][11]. Interest Margin and Cost Management - The net interest margin increased by 4 basis points to 1.49% in Q4 2024, primarily due to a reduction in funding costs [10][11]. - The bank's cost of interest-bearing liabilities decreased by 14 basis points to 1.72% [10][11].