中国建设银行股份有限公司 未来三年（2025 年-2027 年）股东回报规划 利分配政策时，将充分考虑本行所处发展阶段的影响，使本行资本金 能够满足正常经营和可持续发展需要，支持各项业务保持良好发展态 势。 根据《上市公司监管指引第 3 号——上市公司现金分红》等相关 要求，为明确中国建设银行股份有限公司（以下简称"本行"）对股 东的合理投资回报规划，完善现金分红政策，增加利润分配决策透明 度和可操作性，便于股东对本行经营和利润分配进行监督，本行制订 了《中国建设银行股份有限公司未来三年（2025 年-2027 年）股东回 报规划》（以下简称"本规划"），具体内容如下。 一、本规划制订的原则 本行的利润分配重视对股东的合理投资回报。本行的利润分配政 策将保持连续性和稳定性，同时兼顾本行的长远利益、全体股东的整 体利益及本行的可持续发展。本行制定审慎利润分配方案时应满足本 行当前及此后合理阶段内资本充足率的要求，同时应充分考虑本行的 发展需求。本行优先采用现金分红的利润分配方式。在有条件的情况 下，本行可以进行中期利润分配。 二、制定利润分配规划的考虑因素 本行股利分配政策的制定着眼于本行现阶段经营和可持续发展 ...

一、本次发行募集资金用途 本次发行的募集资金在扣除相关发行费用后将全部用于补充本 行核心一级资本，以支持未来业务发展。 二、本次发行的必要性 一是服务实体经济高质量发展的需要。本行作为国有大行，需持 续发挥服务实体经济主力军作用，在经济转型升级中提供强有力的金 融支持保障。本次发行后，本行资本实力得以进一步夯实，可更加有 力有效地做好实体经济金融支持，服务好"五篇大文章"，支持新质 生产力加快发展。 二是进一步增强风险抵补能力的需要。资本是银行抵御风险的最 后一道防线。本次发行后，本行风险抵御能力进一步增强，前瞻性应 对能力提升，确保在市场环境变化、资产质量管控及非预期事件冲击 1 中保持合理安全边际，发挥国有大行维护金融稳定的压舱石作用。 中国建设银行股份有限公司向特定对象发行 A 股股票 募集资金使用可行性分析报告 为支持实体经济高质量发展，进一步增强风险抵补能力，优化资 本结构，有序实现 TLAC 达标，巩固长期市场竞争力，保持关键指标 均衡协调，中国建设银行股份有限公司（以下简称"本行"）需要合 理利用外源性融资工具补充核心一级资本，进一步增强资本实力，并 提高盈利能力和风险抵御能力。根据《中华人民共 ...

中国建设银行股份有限公司 监事会会议决议公告 （2025 年 3 月 30 日） 本行监事会及全体监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。 股票代码：601939 股票简称：建设银行 公告编号：临 2025-014 中国建设银行股份有限公司（以下简称本行）监事会会议（以下 简称本次会议）于 2025 年 3 月 30 日在北京以现场会议方式召开。本 行于 2025 年 3 月 27 日以书面形式发出本次会议通知。半数以上监事 共同推举林鸿监事召集并主持会议。本次会议应出席监事 5 名，实际 亲自出席监事 5 名。本次会议的召开符合《中华人民共和国公司法》 和《中国建设银行股份有限公司章程》等规定。 本次会议审议并通过了如下议案： 一、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 议案表决情况：同意 5 票，反对 0 票，弃权 0 票。 二、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 1 议案表决情况：同意 5 票，反对 0 票，弃权 0 票。 三、关于《中国建设银行股份有限公司向特定对象发 ...

股票代码：601939 股票简称：建设银行 公告编号：临 2025-013 中国建设银行股份有限公司 董事会会议决议公告 （2025 年 3 月 30 日） 向特定对象发行 A 股股票的条件。 本项议案将提交本行股东大会审议。 二、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 表决情况：同意 13 票，反对 0 票，弃权 0 票。 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。 中国建设银行股份有限公司（以下简称本行）董事会会议（以下 简称本次会议）于 2025 年 3 月 30 日在北京以现场会议方式召开。本 次会议通知以书面形式发出，会议由张金良董事长主持，应出席董事 13 名，实际亲自出席董事 13 名。本次会议的召开符合《中华人民共 和国公司法》《中国建设银行股份有限公司章程》（以下简称《公司 章程》）等规定。 本次会议审议通过如下议案： 一、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 表决情况：同意 13 票，反对 0 票，弃权 0 票。 根据《中华人民共和国公司法》《 ...

2025 年 3 月 30 日 公司研究 盈利增长更进一步，"三大战略"稳步落实 ——建设银行（601939.SH）2024 年年报点评 买入（维持） 当前价：8.52 元 作者 分析师：王一峰 执业证书编号：S0930519050002 010-57378038 wangyf@ebscn.com 事件： 3 月 28 日，建设银行发布 2024 年年报，全年公司实现营收 7502 亿，同比增速为 -2.5%，归母净利润 3356 亿，同比增速 0.9%。年化加权平均净资产收益率 （ROAE）10.69%，同比下降 0.9pct。 点评： 分析师：赵晨阳 执业证书编号：S0930524070005 010-57378030 zhaochenyang@ebscn.com | 市场数据 | | | --- | --- | | 总股本(亿股) | 2,500.11 | | 总市值(亿元)： | 21,300.94 | | 一年最低/最高(元)： | 6.35/8.92 | | 近 3 月换手率： | 100.00% | 股价相对走势 | 收益表现 | | | | --- | --- | --- | | % 1M 3 ...

核心观点： 风险提示：经济下行超预期；宏观政策力度不及预期；存款竞争加剧。 亮点：（1）负债成本改善，测算单季度息差回升。公司24 年净息差1.51%，较24Q1~3 收窄1bp，且根 据我们测算，公司测算24Q4 单季度息差1.49%，环比提升4bp，其中24Q4 测算生息资产收益率环比下 降9bp，预计主要受存量按揭下调、LPR 下调、化债、市场利率下行等多重因素影响，但负债成本改善 更多，24Q4 测算计息负债成本率下降14bp，预计主要受益于前期挂牌利率下调成效释放，以及各项自 律政策的落地，尤其24A 对公活期存款成本率和个人定期存款成本率较上半年分别压降9bp、8bp，成效 显著，带动全年息差边际企稳。（2）不良稳定，关注率改善，关注零售风险暴露。公司24Q4 末不良率 1.34%，环比回落1bp，保持稳健，其中，24 年末对公贷款不良率1.65%，较24Q2 末改善4bp，主要是传 统基建、房地产等行业不良率改善较多，制造业不良率有所上行；24 年末零售贷款不良率0.98%，较 24Q2 末上升14bp，消费贷和信用卡不良率上升较多。从各项前瞻性指标来看，24Q4 末关注率1.89%， 较24Q ...

Group 1 - The core point of the news is that China Construction Bank has applied for a patent related to a method for interest subsidy processing, which aims to enhance the efficiency and accuracy of interest subsidy calculations during the interest settlement period [1] - The patent application, titled "A Method, Device, Electronic Equipment, and Medium for Interest Subsidy Processing," was published under CN 119693108 A and was filed on November 2024 [1] - The method involves determining the interest subsidy amount based on the loan amount and subsidy method for each borrower during the interest settlement period, thereby reducing overdue subsidies and their impact on borrowers' credit ratings [1] Group 2 - China Construction Bank, established in 2004 and located in Beijing, primarily engages in monetary financial services [2] - The bank has a registered capital of approximately 25 billion RMB and a paid-in capital of about 19.42 billion RMB [2] - The bank has invested in 49 enterprises, participated in 5,000 bidding projects, and holds 1,873 trademark records and 5,000 patent records [2]

Core Insights - Construction Bank reported a total asset of over 40 trillion yuan and a net profit of 336.28 billion yuan for 2024, with a net interest margin of 1.51%, maintaining a leading position among peers [1][5] - The bank's personal loans and inclusive finance loans have shown significant growth, with personal consumption loans increasing by 25.21% and personal business loans by 31.41% [1][5] - The bank plans to adapt to a low-interest-rate environment by enhancing retail credit, high-value deposits, and non-interest income while deepening cost control [1][6] Personal Loan Performance - As of the end of 2024, the domestic personal loan and advance balance reached 8.87 trillion yuan, a year-on-year increase of 196.54 billion yuan, representing a growth rate of 2.27% [2] - The personal housing loan balance decreased to 6.19 trillion yuan, down by 198.67 billion yuan, a decline of 3.11% due to market conditions [2] - The bank's daily acceptance of personal housing loans increased significantly in Q4, with a month-on-month rise of 73% and a year-on-year rise of 35% [2] Asset Quality - As of the end of 2024, the non-performing loan balance was 344.69 billion yuan, an increase of 19.43 billion yuan, with a non-performing loan ratio of 1.34%, down by 0.03 percentage points [4] - The non-performing rate for personal housing loans was 0.63%, indicating manageable risk levels compared to peers [4] - The bank is implementing measures to alleviate repayment pressure for clients facing income fluctuations [4] Retail Banking Strategy - The bank's retail banking strategy, termed "New Retail 2.0," has shown initial success, with personal consumption loans reaching 527.90 billion yuan and personal business loans at 1.02 trillion yuan [5][6] - The bank became the first in the country to have credit card loans exceed 1 trillion yuan, driven by enhanced online and offline product offerings [6] - The bank aims to further increase the proportion of retail credit in 2025, focusing on stable growth in entity loans and core deposits [6][7] Future Outlook - The bank plans to leverage supportive policies in the real estate market to strengthen its personal housing loan offerings and expand consumer finance activities [7] - The overall strategy includes optimizing asset and liability structures, maintaining a leading net interest margin, and enhancing non-interest income [6][7]

Core 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].

China Construction Bank (00939) Q4 2024 Earnings Call March 28, 2025 03:51 PM ET Moderator ladies and gentlemen, good afternoon. A warm welcome to the China Construction Bank's twenty twenty four annual results announcement. Thank you all very much for your trust, attention, and the support you have given to CCB. These announcements meeting will have two venues in Beijing and Hong Kong, and we will also have the online webcast so that the shareholders and the public can also receive the announcements in rea ...