Earnings release
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Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. 中國建設銀行股份有限公司 CHINA CONSTRUCTION BANK CORPORATION (A joint stock company incorporated in the People’s Republic of China with limited liability) Stock Code: 00939 FIRST QUARTER REPORT OF 2025 The board of directors (the “Board”) of China Construction Bank Corporation (the “Bank”) hereby announces the unaudited consolidated results of the Bank and its subsidiaries (collectively the “Group”) for the period ended 31 March 2025, prepared under the International Financial Reporting Standards (IFRS). This announcement is made in accordance with Part XIV A of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) and Rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.
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2 Important Notice: • The Board, the board of supervisors, directors, supervisors and senior management of the Bank warrant that the information in this quarterly report is truthful, accurate and complete and there are no false records , misleading statements or material omissions, and assume legal liability for such contents severally and jointly. • Mr. Zhang Jinliang, chairman and executive director of the Bank, Mr. Zhang Yi, vice chairman, executive director and president of the Bank, and Mr. Liu Fanggen, general manager of finance & accounting depa rtment, hereby warrant the truthfulness, accuracy and completeness of the financial information in this quarterly report. • The first quarter financial statements have not been audited. 1 Major Financial Information 1.1 Major accounting data and financial indicators The financial information set forth in this quarterly report is prepared on a consolidated basis under IFRS and expressed in RMB unless otherwise stated. (In millions of RMB unless otherwise stated) Three months ended 31 March 2025 Three months ended 31 March 2024 Change (%) Operating income 185,990 195,284 (4.76) Net profit 83,742 86,907 (3.64) Net profit attributable to equity shareholders of the Bank 83,351 86,817 (3.99) Net cash from operating activities 721,067 209,335 244.46 Basic and diluted earnings per share (in RMB Yuan) 0.33 0.35 (5.71) Annualised return on average equity (%) 10.42 11.59 down 1.17 percentage points As at 31 March 2025 As at 31 December 2024 Change (%) Total assets 42,794,715 40,571,149 5.48 Total equity attributable to equity shareholders of the Bank 3,388,936 3,322,127 2.01
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3 1.2 Changes in major accounting data and financial indicators and the causes thereof (In millions of RMB unless otherwise stated) Three months ended 31 March 2025 Three months ended 31 March 2024 Change (%) Major cause of the change Net cash from operating activities 721,067 209,335 244.46 Mainly because net increase in certificates of deposit issued was higher compared to the same period last year. 2 Particulars of Shareholders 2.1 Number of ordinary shareholders and particulars of shareholding As at 31 March 2025, the Bank had 308,181 ordinary shareholders, including 36,896 H-share holders and 271,285 A-share holders. Particulars of shareholding (excluding shares on loan through refinancing) of top ten ordinary shareholders of the Bank are as follows: Name of ordinary shareholder Nature of shareholder Number of shares held Shareholding percentage (%) Central Huijin Investment Ltd. State 142,590,494,651 (H-shares) 57.03 267,392,944 (A-shares) 0.11 HKSCC Nominees Limited 1 Overseas legal person 93,803,097,631 (H-shares) 37.52 China Securities Finance Corporation Limited State-owned legal person 2,189,259,672 (A-shares) 0.88 State Grid Corporation of China 2 State-owned legal person 1,611,413,730 (H-shares) 0.64 Reca Investment Limited Overseas legal person 856,000,000 (H-shares) 0.34 Hong Kong Securities Clearing Company Ltd. 3 Overseas legal person 707,383,454 (A-shares) 0.28 China Yangtze Power Co., Limited State-owned legal person 648,993,000 (H-shares) 0.26 Central Huijin Asset Management Ltd. State-owned legal person 496,639,800 (A-shares) 0.20 China Baowu Steel Group Corporation Limited State-owned legal person 335,000,000 (H-shares) 0.13 New China Life Insurance Company Ltd. - Traditional - Ordinary insurance product - 018L - CT001SH Others 200,903,923 (A-shares) 0.08 1. The number of shares held by HKSCC Nominees Limited represents the total number of H -shares of the Bank it held as a nominee on behalf of all institutional and individual investors registered with it as at 31 March 2025. As at 31 March 2025, State Grid Corporation of China, China Yangtze Power Co., Limited and China Baowu Steel Group Corporation Limited held 1,611,413,730 H-shares, 648,993,000 H -shares and 335,000,000 H -shares of the Bank respectively, all of which were held under the name of HKSCC Nominees Limited. Save the aforesaid H -shares of the Bank held by State Grid Corp oration of China, China Yangtze Power Co., Limited, and China Baowu Steel Group Corporation Limited, 93,803,097,631 H -shares of the Bank were held under the name of HKSCC Nominees Limited, which included the H-shares of the Bank held by Ping An Asset Management Co., Ltd. as an investment manager on behalf of several clients, as well as those held by Ping An Insurance (Group) Company of China, Ltd. through its controlled enterprises.
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4 2. As at 31 March 2025, the holding of H-shares of the Bank by State Grid Corporation of China through its subsidiaries was as follows: State Grid International Development Co., Ltd. held 296,131,000 shares and State Grid International Development Limited held 1,315,282,730 shares. 3. The number of shares held by Hong Kong Securities C learing Company Ltd. represents the total number of A -shares of the Bank (shares of northbound trading) it held as a nominee designated by and on behalf of Hong Kong and overseas investors as at 31 March 2025. 4. Central Huijin Investment Ltd. holds 100% of t he equity of Central Huijin Asset Management Ltd. , 66.70% of the equity of China Securities Finance Corporation Limited, and 31.34% of the equity of New China Life Insurance Company Ltd. HKSCC Nominees Limited is a wholly-owned subsidiary of Hong Kong Securities Clearing Company Ltd. Apart from these, the Bank is not aware of any connected relation or concerted action among the aforesaid shareholders. Central Huijin Investment Ltd. exercises the contributor’s rights and obligations in key state-owned financial enterprises in accordance with the law on behalf of the State, and does not engage in any other commercial business activities, nor does it interfere with daily operations of the key state-owned financial enterprises of which it is the controlling shareholder. 5. As at 31 March 2025, none of the top ten shareholders of the Bank were involved in margin trading, short selling or refinancing of funds or securities, except that the status of HKSCC Nominees Limited was unknown. 6. None of the shares held by th e aforesaid shareholders were subject to selling restrictions. None of the aforesaid shares were pledged, labelled or frozen except that the status of the shares held under the name of HKSCC Nominees Limited was unknown. 2.2 Number of preference shareholders and particulars of shareholding As at 31 March 2025, the Bank had 24 preference shareholders, all of whom were domestic preference shareholders, and there was no restoration of voting rights. Particulars of shareholding of top ten preference shareholder s of the Bank are as follows: Name of preference shareholder Nature of shareholder Number of shares held Shareholding percentage (%) Hwabao Trust Co., Ltd. Others 104,690,000 17.45 Jiangsu International Trust Corporation Limited Others 64,300,000 10.72 China Life Insurance Company Limited Others 50,000,000 8.33 China Mobile Communications Group Co., Ltd. State-owned legal person 50,000,000 8.33 Ping An Life Insurance Company of China, Ltd. Others 49,660,000 8.28 Shanghai Branch of Bank of China Limited Others 43,600,000 7.27 Everbright Securities Asset Management Co., Ltd. Others 40,040,000 6.67 China Fund Management Co., Ltd. Others 38,414,878 6.40 Sun Life Everbright Asset Management Co., Ltd. Others 25,060,000 4.18 Postal Savings Bank of China Co., Ltd. Others 25,000,000 4.17 1. None of the aforesaid preference shares were pledged, labelled or frozen. 2. The Bank is not aware of any connected relation or concerted action among the aforesaid preference shareholders, or between the aforesaid preference shareholders and the top ten ordinary shareholders.
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5 3 Other Important Information 3.1 Brief analysis of operating results In the first quarter of 2025, the global economy lacked strong growth momentum. The prospects for global trade growth encountered numerous challenges, including rising tariffs , and economic performances across major economies diverged. Uncertainty surrounding inflation trends and monetary policy adjustments increased, and the external environment became more complex and severe. China ’s economy demonstrated overall stability with steady progress and consistent growth in both supply and demand sides despite obstacles and challenges such as weak domestic demand and multiple potential risks. The employment situation remained generally stable, new quality productive forces continued to develop and strengthen, and solid progress was made in advancing high -quality development. The Group firmly prioritised high-quality development as its primary mission, proactively integrated into the blueprint of further deepening comprehensive reform, focused on supporting the real economy, and firmly forestalled risks. It persis ted in fulfilling its main responsibilities and core businesses, optimised the supply of financial services, actively served the establishment of the new development pattern, fostered the integrated advancement of the “Five Priorities ” in finance, accelera ted the exploration of an intensive and efficient development path under a low-interest-rate environment, and ensured stable, coordinated and orderly overall operations with performance in line with expectations. Unless otherwise specified, the followings are the data as of the end of the reporting period. Technology finance Improving the organisational structure of technology finance to provide comprehensive financial services covering the entire life cycle for sci-tech enterprises. • The Bank established a four-level organisational structure exclusive for technology finance, namely “head office + tier-one branches + tier- two branches in key cities + featured sub -branches (outlets)”, to enhance the specialised service capabilities for technology finance. • It coordinated with local state -owned capital and social capital to become the first among large state-owned commercial banks to sign a strategic cooperation agreement for a secondary market venture capital fund (S Fund), with an amount of RMB10 billion. • It actively supported technological innovation to lead the building of a modern industrial system . The loans to technology -related industries 1 exceeded RMB4 trillion; and loans to strategic emerging industries 1 were RMB3.34 trillion, with an increase of 17.14% over the end of 2024. It launched a special technology finance action for small and micro businesses, optimised and promoted credit products
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6 such as “Shanxindai” and “Shankedai”, with a loan balance of RMB137,626 million, an increase of 24.20% over the end of 2024. • It enriched the supply of direct financing and merger and acquisition services for sci-tech enterprises. It underwrote 20 batches of sci -tech innovation notes, with an underwriting volume of RMB6,202 million. The subscription of sci -tech innovation bonds increased by 138.78% year-on-year. It made three pilot merger and acquisition loans for sci- tech enterprises, with a disbursement scale of RMB52.99 million, covering pilot cities including Suzhou, Nanjing and Hefei. Green finance Taking aim at the vision of “becoming a globally leading sustainable development bank” and expanding product portfolio to advance the sustainable development of green finance. • The Bank’s green loans 1 amounted to RMB5.64 trillion, an increase of 13.18% on the same calculation basis over the beginning of 2025. • It continued to consolidate the responsible investment system construction of the proprietary bond investment portfolio. The Bank had invested more than RMB250 billion bonds in green sectors, and the average external ESG rating of issuers within the investment portfolio had consistently exceeded the market average level. • The Group underwrote 18 batches of green and sustainability bonds issued onshore and offshore , with an issuance size equivalent to RMB38,409 million. • Leveraging the advantage of multiple financial licenses, the Group comprehensively carried out a range of financial services, including green leasing, green wealth management, green funds, green insurance, green bills and green trusts, to boost the green and low - carbon transition of the economy and society.
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7 Inclusive finance Refining the digital inclusive finance model and forming a multi - field inclusive finance supply and a multi -level organisational support. • The Group increased the supply of inclusive financial credit for key customer groups. The Bank’s inclusive finance loans to small and micro businesses totalled RMB3.63 trillion, an increase of RMB221,981 million over the end of 2024; the number of inclusive finance loan borrowers reached 3.60 million, an increase of 0.24 million over the end of 2024. • It enhanced the comprehensive services of “CCB Huidongni” platform, and created the smart credit advisor. There were 14.60 million certified enterprise users, an increase of 0.46 million over the end of 2024. The platform has cumulatively brought in 2.89 million customers for corporate settlement, 1.26 million customers for tax payment agency services, and 0.43 million customers for payroll disbursement services. • It expanded the agriculture -related credit product system and financial service scenarios, and built an agriculture -related service model for “ecosystems + industrial and supply chains + industrial and business clusters”. The Bank’s agriculture-related loans amounted to RMB3.56 trillion, an increase of RMB231,063 million over the end of 2024. The number of registered users of “Yunongtong” app reached 20.16 million, an increase of 0.71 million over the end of 2024. The balance of “Yunong Loans” amounted to RMB330,650 million, an increase of RMB45,882 million over the end of 2024. Pension finance Pressing ahead with the establishment of the pension finance service system and enhancing the competitiveness of the three pillar businesses to build “a professional bank for pension finance”. • The Group strengthened the foundation for the development of pension finance. It continued to advanc e the expansion of social security card business; seized the opportunity of expanding the coverage of the annuity system, and enhanced the comprehensive annuity service capabilities of the Group, with Pillar 2 asset managed by CCB Pension exceeding RMB630 billion and the number of parent- subsidiary collaborative customers increasing by 41% ; actively supported the nationwide promotion of personal pension system, and carried out nearly a hundred “Pension China Tour” theme activities. It continued to enrich the “Jianzao” series of personal pension products and enhanced the competitiveness of its subsidiaries’ products.
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8 • It increased financial support for pension industry. It prioritised elderly-care industry and provided differentiated supporting policies, promoted and applied featured products, and proactively channelled more credit resources to support elderly-care industry. It explored the use of new investment and financing models to support the development of the silver economy. • It deepened the financial sup ply of pension services. It steadily promoted the expansion and upgrading of featured outlets of pension finance. It continued to enrich its series of “Elderly Care” products and expanded business scenarios such as equity incentives and enterprise supplementary medical care. It continued to upgrade the comprehensive service system for pension customers to provide professional and appropriate wealth management services. Digital finance Accelerating the digital and intelligent transformation and empowering business development and smart living. • The Group deepened the construction of financial large models and completed the private deployment of reasoning-based large models. It launched an intelligent agent platform by leveraging the capabilities of large models for intent recognition, demand decomposition, task planning, and tool invocation to automatically execute specific domain tasks, which supported users to flexibly build intelligent agent workflows through a graphic interface. It used the big data platform to strengthen the management of data asset catalogues and data lineage, and enhanced the response time of over 90% of online multi - dimensional analysis services from minute-level to second-level. • It continued to promote the integration of th e “Binary Stars” to enhance both the scale and quality of users. The total number of users of “Binary Stars” reached 527 million, with monthly active users reaching 244 million; the number of users that had financial transactions during the year was 117 mi llion, an increase of 6.56% year-on-year; and the number of mobile banking customers with assets was 429 million, an increase of 3.60% year -on-year. The cumulative number of e-CNY consumption transactions reached 480 million, with a total transaction amount of RMB101,557 million. • The Bank’s loans to core industries of the digital economy 1 amounted to RMB835,093 million, an increase of 11.14% on the same calculation basis over the end of 2024. 1. Calculated in line with the statistical criteria of related loans in the Notice on Strengthening the Statistical Work of the “Five Priorities” in Finance issued by the General Office of the People’s Bank of China,
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9 3.1.1 Analysis of the statement of financial position As at 31 March 2025, the Group ’s total assets stood at RMB42.79 trillion, an increase of RMB2.22 trillion or 5.48% over the end of 2024. Gross loans and advances to customers stood at RMB27.02 trillion, an increase of RMB1.18 trillion or 4.55% over the end of 2024; financial investments totalled RMB11.31 trillion, an increase of RMB0.62 trillion or 5.83% over the end of 2024. (In millions of RMB unless otherwise stated) 31 March 2025 31 December 2024 Change (%) Domestic loans and advances of the Bank 26,117,514 24,938,748 4.73 Corporate loans and advances 15,611,977 14,434,401 8.16 Personal loans and advances 9,038,575 8,872,595 1.87 Discounted bills 1,466,962 1,631,752 (10.10) Overseas operations and subsidiaries 850,799 854,969 (0.49) Accrued interest 51,114 49,577 3.10 Gross loans and advances to customers 27,019,427 25,843,294 4.55 In accordance with the five -category loan classification standard, non -performing loans were RMB358,136 million, an increase of RMB13,445 million over the end of 2024. Non-performing loan ratio was 1.33%, a decrease of 0.01 percentage points from the end of 2024. The ratio of allowances to non-performing loans was 236.81%, up 3.21 percentage points over the end of 2024. The ratio of allowances to total loans was 3.14%, up 0.02 percentage points over the end of 2024. The Group ’s total liabilities were RMB39.38 trillion, an increase of RMB2.16 trillion or 5.79% over the end of 2024. Deposits from customers wer e RMB30.43 trillion, an increase of RMB1.72 trillion or 5.99% over the end of 2024. (In millions of RMB unless otherwise stated) 31 March 2025 31 December 2024 Change (%) Domestic deposits from customers of the Bank 29,408,886 27,683,928 6.23 By product Time deposits 16,632,159 15,500,259 7.30 Demand deposits 12,776,727 12,183,669 4.87 By customer Corporate deposits 11,861,059 11,442,643 3.66 Personal deposits 17,547,827 16,241,285 8.04 Overseas operations and subsidiaries 573,084 554,644 3.32 Accrued interest 451,328 475,298 (5.04) Total deposits from customers 30,433,298 28,713,870 5.99
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10 Total equity was RMB3.41 trillion, an increase of RMB67,363 million or 2.01% over the end of 2024. Specifically, total equity attributable to equity shareholders of the Bank was RMB3.39 trillion, an increase of RMB66,809 million or 2.01% over the end of 2024. As at 31 March 2025, in accordance with the Rules on Capital Management of Commercial Banks , the Group ’s capital adequacy ratio, Tier 1 capital ratio and common equity Tier 1 capital ratio were 19.15%, 14.67% and 13.98%, respectively; the leverage ratio was 7.52%. The Group ’s liquidity coverage ratio for the first quarter of 2025 was 124.79%. All the indicators above met regulatory requirements. For details of capital and liquidity information, please refer to the Capital Management Pillar III First Quarter Report 2025 published on the websites of Shanghai Stock Exchan ge ( www.sse.com.cn), “ HKEXnews” of Hong Kong Exchanges and Clearing Limited (www.hkexnews.hk), and the Bank (www.ccb.cn, www.ccb.com). 3.1.2 Analysis of the statement of comprehensive income For the three months ended 31 March 2025, the Group recorded net profit of RMB83,742 million and net profit attributable to equity shareholders of the Bank of RMB83,351 million, down 3.64% and 3.99% respectively from the same period last year. Annualised return on average assets was 0.80%, and annualised return on average equity was 10.42%. Net interest income was RMB141,923 million, down 5.21% from the same period last year. Net interest margin was 1.41%, down 16 basis points from the same period last year. Net non-interest income was RMB44,067 million, down 3.26% from the same period last year. Net fee and commission income was RMB37,460 million, down 4.63% from the same period last year. Operating expenses were RMB44,278 million, a decrease of RMB507 million from the same period last year. Cost-to-income ratio rose to 22.97%, up 0.86 percentage points over the same period last year. Impairment losses were RMB48,137 million, a decrease of RMB10 million from the same period last year. Specifically, credit impairment losses were RMB48,156 million, a decrease of RMB1 million from the same period last year. I ncome tax expense was RMB9,837 million, a decrease of RMB5,563 million from the same period last year. The effective income tax rate was 10.51%.
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11 3.2 Cash dividend distribution during the reporting period The 2024 cash dividend per share (including tax) is RMB0.403, with cash dividends totalling approximately RMB100,754 million. Specifically: Upon the approval of the second extraordinary general meeting of 2024, the Bank paid an interim cash dividend of RMB0.197 per share (including tax) for 2024, with cash dividends totalling approximately RMB49,252 million, to all ordinary shareholders whose names appeared on the register of members after the close of the market on 9 January 2025. Upon the approval of the first extraordinary general meeting of 2025, the Bank will distribute 2024 finial cash dividend of RMB0.206 per share (including tax) for 2024, with cash dividends totalling approximately RMB51,502 million, to all ordinary shareholders whose names appeared on the register of members after the close of the market on 8 May 2025. 3.3 Other Major Issues In March 2025, the Bank issued Tier 2 capital bonds of RMB40 billion. Please refer to the announcement published by the Bank on 28 March 2025 for details. The Bank has proposed to issue A shares to specific target, with the total amount of proceeds not exceeding RMB105.0 billion, which will be entirely used to replenish the common equity Tier 1 capital of the Bank after deducting relevant issuance expenses. Please refer to the announcement published by the Bank on 30 March 2025 for details. For the updates on the issuance of A shares to specific target, please refer to the rel evant announcements published by the Bank on the websites of Shanghai Stock Exchange, “HKEXnews” of Hong Kong Exchanges and Clearing Limited, and the Bank. For other issues, please refer to the announcements published by the Bank on the websites of Shanghai Stock Exchange, “HKEXnews” of Hong Kong Exchanges and Clearing Limited, and the Bank.
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4 QUARTERLY FINANCIAL STATEMENTS FINANCIAL STATEMENTS PREPARED IN ACCORDANCE WITH INTERNATIONAL FINANCIAL REPORTING STANDARDS China Construction Bank Corporation Consolidated statement of comprehensive income For the three months ended 31 March 2025 (Expressed in millions of RMB, unless otherwise stated) 12 Three months ended 31 March 2025 (Unaudited) 2024 (Unaudited) Interest income 288,255 314,690 Interest expense (146,332) (164,959) Net interest income 141,923 149,731 Fee and commission income 40,700 42,207 Fee and commission expense (3,240) (2,929) Net fee and commission income 37,460 39,278 Net trading gain 575 2,078 Dividend income 413 278 Net (loss)/gain arising from investment securities (593) 2,664 Net gain on derecognition of financial assets measured at amortised cost 1,155 506 Other operating income, net: - Other operating income 9,422 6,758 - Other operating expense (4,365) (6,009) Other operating income, net 5,057 749 Operating income 185,990 195,284 Operating expenses (44,278) (44,785) 141,712 150,499 Credit impairment losses (48,156) (48,157) Other impairment losses 19 10 Share of profits/(losses) of associates and joint ventures 4 (45) Profit before tax 93,579 102,307 Income tax expense (9,837) (15,400) Net profit 83,742 86,907
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China Construction Bank Corporation Consolidated statement of comprehensive income (continued) For the three months ended 31 March 2025 (Expressed in millions of RMB, unless otherwise stated) 13 Three months ended 31 March 2025 (Unaudited) 2024 (Unaudited) Other comprehensive income: (1) Other comprehensive income that will not be reclassified to profit or loss Fair value changes of equity instruments designated as measured at fair value through other comprehensive income 61 71 Others - 2 Subtotal 61 73 (2) Other comprehensive income that may be reclassified subsequently to profit or loss Fair value changes of debt instruments measured at fair value through other comprehensive income (18,086) 8,658 Allowances for credit losses of debt instruments measured at fair value through other comprehensive income 200 (214) Reclassification adjustments included in profit or loss due to disposals (392) (1,021) Net (loss)/gain on cash flow hedges (10) 102 Exchange difference on translating foreign operations (547) 609 Others 2,483 (4,690) Subtotal (16,352) 3,444 Other comprehensive income for the period, net of tax (16,291) 3,517
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China Construction Bank Corporation Consolidated statement of comprehensive income (continued) For the three months ended 31 March 2025 (Expressed in millions of RMB, unless otherwise stated) 14 Three months ended 31 March 2025 (Unaudited) 2024 (Unaudited) Total comprehensive income for the period 67,451 90,424 Net profit attributable to: Equity shareholders of the Bank 83,351 86,817 Non-controlling interests 391 90 83,742 86,907 Total comprehensive income attributable to: Equity shareholders of the Bank 66,809 91,978 Non-controlling interests 642 (1,554) 67,451 90,424 Basic and diluted earnings per share (in RMB Yuan) 0.33 0.35
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China Construction Bank Corporation Consolidated statement of financial position As at 31 March 2025 (Expressed in millions of RMB, unless otherwise stated) 15 31 March 2025 (Unaudited) 31 December 2024 (Audited) Assets: Cash and deposits with central banks 2,750,074 2,571,361 Deposits with banks and non-bank financial institutions 178,099 154,532 Precious metals 95,198 138,433 Placements with banks and non-bank financial institutions 754,714 672,875 Positive fair value of derivatives 77,854 108,053 Financial assets held under resale agreements 769,191 622,559 Loans and advances to customers 26,173,792 25,040,400 Financial investments Financial assets measured at fair value through profit or loss 666,565 612,504 Financial assets measured at amortised cost 7,590,140 7,429,723 Financial assets measured at fair value through other comprehensive income 3,050,417 2,641,736 Long-term equity investments 24,183 23,560 Fixed assets 165,790 165,116 Construction in progress 3,709 4,319 Land use rights 12,254 12,417 Intangible assets 5,299 5,830 Goodwill 2,532 2,522 Deferred tax assets 136,140 120,485 Other assets 338,764 244,724 Total assets 42,794,715 40,571,149
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China Construction Bank Corporation Consolidated statement of financial position (continued) As at 31 March 2025 (Expressed in millions of RMB, unless otherwise stated) 16 31 March 2025 (Unaudited) 31 December 2024 (Audited) Liabilities: Borrowings from central banks 888,895 942,594 Deposits from banks and non-bank financial institutions 2,757,291 2,835,885 Placements from banks and non-bank financial institutions 495,146 479,881 Financial liabilities measured at fair value through profit or loss 189,407 240,593 Negative fair value of derivatives 92,041 93,990 Financial assets sold under repurchase agreements 1,022,111 739,918 Deposits from customers 30,433,298 28,713,870 Accrued staff costs 55,868 60,661 Taxes payable 32,798 40,388 Provisions 30,136 38,322 Debt securities issued 2,861,050 2,386,595 Deferred tax liabilities 1,498 1,525 Other liabilities 523,848 652,962 Total liabilities 39,383,387 37,227,184
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China Construction Bank Corporation Consolidated statement of financial position (continued) As at 31 March 2025 (Expressed in millions of RMB, unless otherwise stated) 17 31 March 2025 (Unaudited) 31 December 2024 (Audited) Equity: Share capital 250,011 250,011 Other equity instruments Preference shares 59,977 59,977 Perpetual bonds 100,000 100,000 Capital reserve 135,736 135,736 Other comprehensive income 41,310 57,901 Surplus reserve 402,196 402,196 General reserve 534,937 534,591 Retained earnings 1,864,769 1,781,715 Total equity attributable to equity shareholders of the Bank 3,388,936 3,322,127 Non-controlling interests 22,392 21,838 Total equity 3,411,328 3,343,965 Total liabilities and equity 42,794,715 40,571,149 Approved and authorised for issue by the Board of Directors on 29 April 2025. Zhang Jinliang Zhang Yi Liu Fanggen Chairman and executive director Vice chairman, executive director and president General manager of finance & accounting department
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China Construction Bank Corporation Consolidated statement of cash flows For the three months ended 31 March 2025 (Expressed in millions of RMB, unless otherwise stated) 18 Three months ended 31 March 2025 (Unaudited) 2024 (Unaudited) Cash flows from operating activities: Profit before tax 93,579 102,307 Adjustments for: −Credit impairment losses 48,156 48,157 −Other impairment losses (19) (10) −Depreciation and amortisation 7,148 7,253 −Interest income from impaired financial assets (606) (898) −Revaluation loss/(gain) on financial instruments measured at fair value through profit or loss 2,716 (3,744) −Share of (profits)/losses of associates and joint ventures (4) 45 −Dividend income (413) (278) −Unrealised foreign exchange loss/(gain) 4,900 (5,594) −Interest expense on bonds issued 7,633 7,089 −Interest income from investment securities and net income from disposal (73,486) (74,444) −Net gain on disposal of fixed assets and other long-term assets (28) (5) 89,576 79,878
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China Construction Bank Corporation Consolidated statement of cash flows (continued) For the three months ended 31 March 2025 (Expressed in millions of RMB, unless otherwise stated) 19 Three months ended 31 March 2025 (Unaudited) 2024 (Unaudited) Cash flows from operating activities: (continued) Changes in operating assets: Net (increase)/decrease in deposits with central banks and with banks and non-bank financial institutions (56,907) 36,624 Net (increase)/decrease in placements with banks and non-bank financial institutions (33,030) 30,696 Net (increase)/decrease in financial assets held under resale agreements (146,661) 132,954 Net increase in loans and advances to customers (1,196,453) (1,173,972) Net increase in financial assets held for trading purposes (56,818) (22,654) Net increase in other operating assets (33,160) (137,347) (1,523,029) (1,133,699) Changes in operating liabilities: Net decrease in borrowings from central banks (53,098) (22,815) Net increase in deposits from customers and from banks and non-bank financial institutions 1,673,098 1,875,424 Net increase in placements from banks and non- bank financial institutions 17,479 14,692 Net decrease in financial liabilities measured at fair value through profit or loss (51,066) (76,140) Net increase/(decrease) in financial assets sold under repurchase agreements 279,955 (181,668) Net increase/(decrease) in certificates of deposit issued 440,698 (368,919) Income tax paid (31,079) (62,523) Net (decrease)/increase in other operating liabilities (121,467) 85,105 2,154,520 1,263,156 Net cash from operating activities 721,067 209,335
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China Construction Bank Corporation Consolidated statement of cash flows (continued) For the three months ended 31 March 2025 (Expressed in millions of RMB, unless otherwise stated) 20 Three months ended 31 March 2025 (Unaudited) 2024 (Unaudited) Cash flows from investing activities: Proceeds from sales and redemption of financial investments 644,163 523,200 Interest and dividends received 67,861 69,528 Proceeds from disposal of subsidiaries, associates and joint ventures 34 383 Proceeds from disposal of fixed assets and other long-term assets 290 398 Purchase of investment securities (1,213,952) (719,523) Acquisition of subsidiaries, associates and joint ventures (602) (100) Purchase of fixed assets and other long-term assets (2,872) (8,927) Net cash used in investing activities (505,078) (135,041) Cash flows from financing activities: Issue of bonds 41,500 80,000 Cash received from subsidiaries’ capital injection by non-controlling interests holders - 5 Dividends paid (49,252) - Repayment of borrowings (5,000) (35,393) Interest paid on bonds issued (5,914) (4,411) Cash payment for other financing activities (1,629) (1,625) Net cash (used in)/from financing activities (20,295) 38,576
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China Construction Bank Corporation Consolidated statement of cash flows (continued) For the three months ended 31 March 2025 (Expressed in millions of RMB, unless otherwise stated) 21 Three months ended 31 March 2025 (Unaudited) 2024 (Unaudited) Effect of exchange rate changes on cash and cash equivalents (1,309) 4,056 Net increase in cash and cash equivalents 194,385 116,926 Cash and cash equivalents as at 1 January 569,448 925,463 Cash and cash equivalents as at 31 March 763,833 1,042,389 Cash flows from operating activities include: Interest received, excluding interest income from investment securities 213,417 240,081 Interest paid, excluding interest expense on bonds issued (165,601) (169,879)
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22 5 Release of Quarterly Report This report will be published on the “HKEXnews” website of Hong Kong Exchanges and Clearing Limited (www.hkexnews.hk) and the websites of the Bank (www.ccb.cn, www.ccb.com) at the same time. The quarterly report prepared under PRC GAAP will also be published on the websites of Shanghai Stock Exchange (www.sse.com.cn) and the Bank (www.ccb.cn, www.ccb.com) at the same time. The Board of Directors of China Construction Bank Corporation 29 April 2025 As at the date of this announcement, the executive directors of the Bank are Mr. Zhang Jinliang, Mr. Zhang Yi and Mr. Ji Zhihong; the non-executive directors of the Bank are Mr. Tian Bo, Mr. Xia Yang, Ms. Liu Fang and Ms. Li Lu; and the independent non -executive directors of the Bank are Mr. Graeme Wheeler, Mr. Michel Madelain, Mr. William Coen, Mr. Leung Kam Chung, Antony, Lord Sassoon and Mr. Lin Zhijun.