Core Viewpoint - China Bank reported a net profit of 237.84 billion yuan in 2024, marking a year-on-year increase of 2.56%, while the real estate sector remains the largest source of new non-performing loans domestically [3][8]. Financial Performance - In 2024, China Bank achieved operating revenue of 630.09 billion yuan, a year-on-year growth of 1.16% [3]. - The net interest income was 448.93 billion yuan, down 3.77% year-on-year, with interest income from loans and advances at 745.36 billion yuan, a decrease of 0.7% [4][5]. - Non-interest income reached 181.16 billion yuan, up 15.87% year-on-year, driven by a significant increase in other non-interest income [4][5]. Asset Quality - As of the end of 2024, the total amount of non-performing loans was 268.78 billion yuan, with a non-performing loan ratio of 1.25%, a slight decrease of 0.02 percentage points from the previous year [6][7]. - The non-performing loan ratio for the real estate sector was 4.94%, the highest among all industries, although it showed a year-on-year decline [7][8]. Capital Adequacy - By the end of 2024, China Bank's total assets reached 35.06 trillion yuan, an increase of 8.11% year-on-year, with total liabilities of 32.11 trillion yuan, also up by 8.2% [5][6]. - The capital adequacy ratio stood at 18.76%, with the core tier one capital ratio at 12.20%, both showing improvements from the previous year [8][9].

Investment Rating - The investment rating for the company is "Neutral" with a downgrade from a previous rating [5]. Core Views - The company achieved a revenue of 630.1 billion yuan in 2024, representing a year-on-year growth of 1.2%, and a net profit of 237.8 billion yuan, up 2.6% year-on-year. The fourth quarter saw a slight revenue decline of 0.3% but an 8.8% increase in net profit [1][4]. - The contribution from overseas business profits increased, with total profit amounting to 295 billion yuan, a decrease of 0.22% year-on-year. Domestic profits fell by 5.7%, contributing 73.3% to the total, while overseas profits grew by 17.5%, contributing 26.7% [1]. - Non-interest income grew significantly by 15.9% in 2024, accounting for 28.8% of total revenue, an increase of 3.7 percentage points year-on-year. However, net income from fees and commissions decreased by 2.9% [2]. - The asset quality remains stable with a non-performing loan ratio of 1.25%, down 2 basis points from the beginning of the year, and a provision coverage ratio of 200.6%, up 9 percentage points year-on-year [2]. Summary by Sections Financial Performance - In 2024, the company reported total revenue of 630.1 billion yuan, a 1.2% increase from 2023, and a net profit of 237.8 billion yuan, reflecting a 2.6% growth. The return on average assets (ROAA) was 0.75%, and return on average equity (ROAE) was 9.50%, both showing slight declines [1][4]. - The total assets reached 35.06 trillion yuan, with loans totaling 21.54 trillion yuan, marking growth of 8.1% and 8.2% respectively from the beginning of the year [2]. Profitability and Valuation - The projected net profits for 2025-2027 are 241.6 billion yuan, 249.4 billion yuan, and 267.3 billion yuan, with corresponding year-on-year growth rates of 1.6%, 3.2%, and 7.2% [3]. - The current stock price corresponds to a price-to-earnings (PE) ratio of 6.6x for 2025, 6.4x for 2026, and 6.0x for 2027, and a price-to-book (PB) ratio of 0.59x, 0.55x, and 0.52x respectively [3]. Asset Quality - The company maintains a stable asset quality with a non-performing loan ratio of 1.25% and a provision coverage ratio of 200.6%, indicating strong risk management practices [2][4].

Core Viewpoint - The China Bank has announced a valuation enhancement and quality improvement plan aimed at increasing operational efficiency and shareholder returns while aligning with national strategies and market demands [1][2]. Group 1: Background and Approval Process - The plan is developed in response to the China Securities Regulatory Commission's guidelines and the Shanghai Stock Exchange's initiative for quality improvement and return enhancement [2]. - The board of directors approved the plan on March 26, 2025 [2]. Group 2: Plan Overview - The plan focuses on stable operations and high-quality development, emphasizing service to national strategies and social welfare [3]. - It aims to enhance operational efficiency, value creation capabilities, and global competitiveness while ensuring effective risk management [4]. Group 3: Specific Initiatives - The bank will support national strategies and social welfare by improving financial services and promoting green finance [3]. - It will enhance operational efficiency by optimizing product services and expanding revenue sources [4]. - The bank aims to strengthen its global presence and international competitiveness through targeted regional development and improved service quality [4]. - A comprehensive risk management approach will be implemented to maintain asset quality and mitigate financial risks [4]. Group 4: Shareholder Value and Communication - The bank has maintained a high dividend payout ratio of 30% and plans to implement mid-term cash dividends starting in 2024 [5]. - It will enhance investor relations through multi-channel communication and regular performance updates [5][6]. - The bank emphasizes protecting investor rights, particularly for small investors, and aims to create long-term value [6]. Group 5: Information Disclosure and Sustainability - The bank is committed to improving information transparency and compliance in its disclosures [6]. - It will utilize various formats to enhance readability and ensure timely and accurate information dissemination [6]. - The bank will continue to adapt to regulatory changes and assess additional value management strategies [7].

中国银行: 中国银行股份有限公司关于续聘会计师 事务所的公告 中国银行股份有限公司 证券代码：601988 证券简称：中国银行 公告编号：临 2025-018 关于续聘会计师事务所的公告 中国银行股份有限公司（简称"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： ? 本行董事会拟续聘安永华明会计师事务所（特殊普通合伙）为 本行 2025 年度国内审计师，续聘安永会计师事务所为本行 2025 年度 国际审计师。本次会计师事务所续聘事项尚需提交本行股东大会审批。 一、拟聘任会计师事务所的基本情况 （一）机构信息 安永华明会计师事务所（特殊普通合伙）(简称"安永华明") 安永华明于 1992 年 9 月成立，2012 年 8 月完成本土化转制，从 一家中外合作的有限责任制事务所转制为特殊普通合伙制事务所。安 永华明总部设在北京，注册地址为北京市东城区东长安街 1 号东方广 场安永大楼 17 层 01-12 室。截至 2024 年末拥有合伙人 251 人，首席 合伙人为毛鞍宁先生。安永华明一直以来注重人才培养，截至 ...

中国银行股份有限公司 中国银行股份有限公司董事会： 中国银行: 中国银行股份有限公司2024年度控股股 东及其他关联方占用资金情况专项说明 中国银行股份有限公司 关于中国银行股份有限公司 控股股东及其他关联方占用资金情况专项说明 安永华明（2025）专字第 70008878_A04号 我们审计了中国银行股份有限公司及其子公司（以下简称"中国银行"）的 度的合并及母公司利润表、所有者权益变动表和现金流量表以及相关财务报表附 注，并于2025年3月26日出具了编号为安永华明（2025）审字第70008878_A01 号的无保留意见审计报告。 按照《上市公司监管指引第8号——上市公司资金往来、对外担保的监管要 求》的要求，中国银行编制了后附的截至2024年度中国银行控股股东及其他关联 方非经营性资金占用及其他关联资金往来情况汇总表（以下简称"汇总表"）。 如实编制和对外披露汇总表，并确保其真实性、合法性、完整性是中国银行 的责任。我们对汇总表所载资料与我们审计中国银行2024年度财务报表时所复 核的会计资料和经审计的财务报表的相关内容进行了核对，在所有重大方面没有 发现不一致之处。除了对中国银行2024年度财务报表 ...

中国银行: 中国银行股份有限公司2024年年度第三支柱信息披 露报告 中国银行股份有限公司 第三支柱信息披露报告 引言 披露依据 本报告根据国家金融监督管理总局令2023年第4号《商业银行资本管理办法》编制并披露。 公司和中小企业信用风险暴露采用初级内部评级法，个人住房抵押贷款、符合条件的合 格循环零售和银行卡信用风险暴露、其他零售信用风险暴露采用高级内部评级法，其他 类型信用风险暴露及其他并表机构的所有信用风险暴露均采用权重法；市场风险采用标 准法计量；操作风险采用标准法计量。 披露声明 本报告是按照《商业银行资本管理办法》要求而非财务会计准则编制，因此，报告中的 部分信息并不能与同期财务报告的财务资料直接进行比较。 本集团已建立完善的第三支柱信息披露治理架构，由董事会批准并由高级管理层实施有 效的内部控制流程，确保对信息披露内容进行合理审查，披露信息真实、可靠。 风险管理、关键审慎监管指标和风险加权资产概览 KM1：监管并表关键审慎监管指标 单位：人民币百万元，百分比除外 a b c d 月 31 日 月 30 日 月 30 日 月 31 日 可用资本（数额） 风险加权资产（数额） 风险加权资产合计（应用 ...

Core Viewpoint - The Audit Committee of Bank of China has reported on its performance for the year 2024, highlighting its responsibilities and activities in overseeing external auditors and internal controls [1][2]. Group 1: Audit Committee Responsibilities - The committee consists of five members, including independent directors, with Liu Xiaolei serving as the chair [1]. - Key responsibilities include evaluating and supervising external auditors, reviewing annual financial reports, and ensuring the accuracy and completeness of financial information [2][3]. - The committee also discusses significant accounting issues, internal control deficiencies, and fraud cases, providing recommendations to the board [2][3]. Group 2: 2024 Audit Plan and Financial Reports - The committee approved the 2024 internal audit work plan and financial budget, as well as reviewed various financial reports for 2023 and 2024 [3][4]. - It emphasized the importance of communication with external auditors regarding the audit plan, focusing on risk areas and compliance [4]. - The committee maintained communication with external auditors and facilitated discussions between independent directors and auditors to ensure transparency [4]. Group 3: Governance and Internal Control - The committee played a crucial role in enhancing corporate governance, strengthening internal audit independence, and improving asset quality [3]. - It provided significant suggestions for improving internal control measures in response to changes in the economic and financial landscape [3].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚 賴該等內容而引致之任何損失承擔任何責任。 中國銀行股份有限公司 BANK OF CHINA LIMITED （於中華人民共和國註冊成立的股份有限公司） （「本行」） （股份代號：3988） 2024 年年度業績公告 本行董事會欣然宣佈本行及其附屬公司截至2024年12月31日止之經審計業績。 本公告列載本行2024年年度報告全文，並符合香港上市規則中有關年度業績 初步公告附載的資料之要求。本行2024年年度報告的印刷版本將於2025年4月 下旬寄發予本行H股股東，並可於其時在香港交易及結算所有限公司的網站 www.hkexnews.hk 及本行的網站www.boc.cn 閱覽。 中國銀行簡介 中國銀行是中國持續經營時間最久的銀行。1912年2月正式成立，先後行使中央銀 行、國際匯兌銀行和國際貿易專業銀行職能。1949年以後，長期作為國家外匯外 貿專業銀行，統一經營管理國家外匯，開展國際貿易結算、僑匯和其他非貿易外匯 業務。1994年改組為國有獨 ...

中国银行股份有限公司 股票代码：601988 2024 年年度报告 中国银行简介 中国银行是中国持续经营时间最久的银行。1912 年 2 月正式成立，先后行使中央银行、国际 汇兑银行和国际贸易专业银行职能。1949 年以后，长期作为国家外汇外贸专业银行，统一经 营管理国家外汇，开展国际贸易结算、侨汇和其他非贸易外汇业务。1994 年改组为国有独资 商业银行，全面提供各类金融服务，发展成为本外币兼营、业务品种齐全、实力雄厚的大型 商业银行。2006 年率先成功在香港联交所和上交所挂牌上市，成为国内首家"A+H"上市银 行。中国银行是 2008 年北京夏季奥运会和 2022 年北京冬季奥运会唯一官方银行合作伙伴， 是中国唯一的"双奥银行"。2011 年，中国银行成为新兴经济体中首家全球系统重要性银行， 目前已连续 14 年入选，国际地位、竞争能力、综合实力跻身全球大型银行前列。当前，中国 银行对标党中央决策部署，以服务实体经济为根本宗旨，以防控风险为永恒主题，以巩固扩 大全球化优势、提升全球布局能力为首要任务，着力做好科技金融、绿色金融、普惠金融、 养老金融、数字金融五篇大文章，在实干笃行中助力金融强国建设。 中 ...

中国银行股份有限公司 内部控制审计报告 re and 2024年12月31日 您可使用手机"扫一扫"或进入"比明有干证明该审计报告是否由具有救业许可的会计师好务所出具 一级行业 图:京25T4Z09FCW 12 11 一、企业对内部控制的责任 按照《企业内部控制基本规范》、《企业内部控制应用指引》、《企业内部控制评价指引》 的规定，建立健全和有效实施内部控制，并评价其有效性是中国银行董事会的责任。 二、注册会计师的责任 Ernst & Young Hua Ming LLP Level 17. Ernst & Young Tower Oriental Plaza, 1 East Chang An Avenu Donachena District Beijing. China 100738 我们的责任是在实施审计工作的基础上,对财务报告内部控制的有效性发表审计意见,并 对注意到的非财务报告内部控制的重大缺陷进行披露。 安永华明会计师事务所 (特殊普通合伙) 中国北京市东城区东长安街 1 号 东方广场安永大楼 17 层 邮政编码: 100738 三、内部控制的固有局限性 Tel 电话: +86 10 5815 30 ...