On March 27, 2026, China Construction Bank (stock code: SH: 601939; HK: 00939) ("CCB" or the "Bank") announced its operating results for 2025. In 2025, China Construction Bank, guided by President Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, thoroughly studied and implemented the spirit of the 20th National Congress of the Communist Party of China and the subsequent plenary sessions of the 20th Central Committee, resolutely implemented the decisions and deployments of the Party Central Committee and the State Council and deeply grasped the political and people-oriented nature of financial work. With the fundamental principle of enhancing the 'three capabilities', it firmly served the construction of a financial power, unswervingly followed the path of financial development with Chinese characteristics, guided an appropriate increase in economic output through higher-quality economic growth, maintained stable progress in operating results and guided development with new and better achievements. The Group has successfully concluded the 14th Five-Year Plan and ushered in a new stage of connotative and high-quality development.

Year 2025 marks the 71st anniversary of China Construction Bank and the 20th anniversary of its shareholding reform and public listing. China Construction Bank has always been in sync with national development, growing in harmony with the real economy and the people and realized a better balance among scale, structure, efficiency, and risk. In 2025, it delivered a performance that demonstrated resilience and simultaneous improvement in both quality and efficiency.

A stronger base of "stable progress". A solid base of operation with a total group asset of 45.63 trillion yuan, up by 12.47% and a total liability of 41.95 trillion yuan, up by 12.68%; the capital increase work was completed with high quality and efficiency, and the net core Tier 1 capital was 3.46 trillion yuan, up by 9.46%. It achieved stable profitability with an operating revenue of 740.871 billion yuan, up by 1.69%; the net profit was 339.79 billion yuan, up by 1.04%. The asset quality was stable and the non-performing loan ratio was 1.31%, the provision coverage ratio was 233.15%. CCB had a stable customer base, serving 12.73 million corporate clients and 785 million individual clients.

Constantly solid "progress". CCB focused on development quality and continuously optimized the structure. Steady growth in total credit was seen in the asset end; the net loans totaled 26.93 trillion yuan, up by 7.53%, with a stably increasing credit ratio in key sectors like the "five major financial initiatives" and manufacturing. The bond investment was 12.43 trillion yuan, up by 20.51%. Its ratio to total assets increased by 1.82 percentage points YOY, mainly for enhancing investments in governmental bonds. In the capital end, the balance of liability increased stably with the deposit of 30.84 trillion yuan, up by 7.39%; current deposits accounted for over 40% of total, with an interest rate of 1.32% for deposits, down by 33 BPS. The contribution of individual savings increased, and it managed financial assets of individual clients in a total value of 23 trillion yuan. In terms of income, the decline in net interest income slowed down season by season while the ratio of non-interest incomes increased by 3.65 percentage points. Net fee and commission income increased by 5.13%.

The momentums of "new achievements" were stably released. CCB explored the development models and paths for new quality productive forces in financial services, created the service brand series of "Shanjian Smart Manufacturing" and "Shanjian Strong Foundation" and fully supported the construction of a modern industrial system. CCB promoted the transformation towards asset-light and capital-light operation and accelerated the formation of growth sources of emerging businesses like wealth management, investment banking asset management and transaction banking. CCB deepened coordinated development, promoted integration of commercial and investment banking, institutional and individual banking, home and foreign currencies and group-level operations, with overseas commercial banking institutions and comprehensive operating subsidiaries achieving a combined net profit of 21.488 billion yuan, up by 19.65%. CCB promoted technological innovation, with large-scale AI models cumulatively enabling 398 scenario applications across the group.

The resilience of "better achievements" was continuously evident. CCB maintained stable, healthy, balanced and coordinated growth in core indexes, leading among comparable peers, with an average ROE of 0.79%. The weighted average return on equity (ROE) was 10.04% and a net differential interest rate was 1.34%, the capital adequacy ratio was 19.69%, the core Tier 1 capital adequacy ratio was 14.63% and the cost-income ratio was 29.44%. CCB ranked second among the top 1,000 global banks by The Banker magazine in the UK for 12 consecutive years and named "Best Bank in China 2025" by Global Finance magazine in the US, with an MSCI ESG rating of the highest level AAA.

To share development achievements with a broad range of investors, the final cash dividend of 2.029 yuan per 10 shares (tax-inclusive) was planned for 2025, totaling about 53.079 billion yuan. The cash dividend was 3.887 yuan per 10 shares (tax-inclusive) for the full year 2025, totaling about 101.684 billion yuan and a cash dividend ratio of 30%.

Adhered to its main responsibilities and core business, continuously demonstrating quality and effectiveness in serving the national economy

CCB was committed to implementing national strategies and serving the real economy, followed trends in changes of economic structure, industrial structure and social financing structure, systematically advanced comprehensive financial services and strove to ensure high-quality financial supply for the economy and the society.

Powerfully and effectively served real economy. CCB released credit resources through multiple channels and fully supported the recovery and positive momentum of the national economy, with an amount of 15.69 trillion yuan in domestic corporate loans, up by 8.70%. On the supply side, CCB actively supported the development of new quality productive forces and promoted the transformation towards smart, green and integrated modern industrial system, with an increase of 15.83% in lending towards the manufacturing sector. The loans to strategic emerging industries were increased by 23.46%. On the demand side, CCB actively contributed to consumption growth, market stability and investment expansion and continuously enhanced financial services in key sectors like "two priorities and two news (key projects & major platforms; new industries & new business forms)", with a growth of 29.41% in individual consumption loans and 12.17% in loans to the private economy. The balances of personal housing loans and credit card loans were 5.99 trillion yuan and 1.01 trillion yuan respectively, keeping leading the market. On the regional side, CCB served the country's major regional strategies and regional coordinated development strategies, with an increase in the ratio of loans in key regions like Beijing–Tianjin–Hebei Urban Agglomeration, the Yangtze River Delta region, the Guangdong-Hong Kong-Macao Greater Bay Area and the Chengdu-Chongqing region and a higher-than-industrial-average growth rate in county-level deposits and loans. On the open-up side, CCB served the development of the country's free trade zones and Hainan Free Trade Port, satisfying the diversified needs of foreign trade and foreign investment customers, fully supporting the high-quality joint construction of the "Belt & Road" initiative. The balance of international business credit was 1.45 trillion yuan. CCB completed cross-border settlement of a total of 6.50 trillion yuan, and the clearing bank in the UK had maintained its status as the largest RMB clearing bank outside Asia.

Promoted the detailed implementation of the "five major financial initiatives". CCB systematically explored sustainable business models for the "five major financial initiatives", with double-digit growth in loans for key areas. CCB deepened comprehensive services of equity, loan, bond, insurance, and leasing in technology-oriented financing, with a technology-oriented loan balance of 5.25 trillion yuan, underwriting of sci-tech bonds in an amount of 71.984 billion yuan and establishment of 28 pilot funds for equity investment cumulatively under financial asset investment companies (AICs). In green finance, CCB built a diversified service system covering green credit, green bonds, green investments and green financing leasing. The balance of green loans was 6 trillion yuan. CCB issued green financial bonds in a value of over 72 billion yuan both at home and abroad in the year; promoted its green and low-carbon operation and realized the carbon neutralization of 75 office buildings. In inclusive finance, CCB deepened customer relationships and improved service models. The balance of the inclusive finance loans to micro and small-sized enterprises was 3.83 trillion yuan and there were 3.69 million lending clients. It made contributions to full countryside recovery, with an agriculture-related loan balance of 3.71 trillion yuan. In pension finance, CCB improved the mechanisms, enhanced the service quality and efficiency of the three major services of pension finance and increased support for the elderly care industry, with the scale of CCB's two pillar pension asset management funds reaching 723.335 billion yuan and more than 250 individual pension products available for sale. In digital finance, CCB focused on advancing the 'AI+' initiative, with 546 million users on the 'Dual' platform, 30.05 million active e-CNY personal wallets and a loan balance of 891.926 billion yuan for core industries of the digital economy.

Deepened integrated development and continuously enhanced comprehensive service capabilities

CCB adhered to a customer-centric approach, continuously promoted the integrated development of corporate finance, individual finance and fund management, and accelerated the establishment of a unified comprehensive operational structure.

In corporate finance, CCB focused on improving the quality and efficiency of services to the real economy, availed loan, bond, equity investments and other products comprehensively and deepened the integration of commercial and investment banking as well as home and foreign currency systems. CCB consolidated the operational foundation of customers from diversified perspectives and improved payment and settlement network service quality and efficiency, with a total of 17.89 million institutional CNY settlement accounts. In individual finance, CCB deeply practiced the concept of people-oriented finance, promoted the digital, professional and ecological transformation and upgrading initiatives and accelerated the implementation of wealth management strategies. CCB deepened the system for stratified, segmented, and tiered management of individual clients, with 1.49 billion individual settlement accounts and an increase of 8.03 million wealth management clients. CCB adhered to a professional and prudent approach in fund management business, providing high-quality services for national development, meeting wealth management needs and improving financial market service quality and efficiency. The group's asset management business scale was 6.94 trillion yuan. It deepened stratified, layered and categorized management of interbank clients, with more than 100 million clients of third-party custodian services for securities trading and settlement funds and a total asset custodian service scale of 27.4 trillion yuan.

Stuck to the risk bottom line and continuously consolidated the base of robust operation

CCB always took risk control as the top priority in overall business management, strengthened comprehensive, proactive and intelligent risk management and prevented risks during development and promoted high-quality development during risk prevention.

Improved the comprehensive risk management. CCB improved the risk governance framework of 'three defense lines', strengthened risk penetration management for overseas institutions and subsidiaries, accelerated the construction of an intelligent risk control system and enhanced the group's coordinated risk control capabilities. Ensured proper management and control of asset quality. CCB steadily and orderly resolved risks in key areas, optimized the comprehensive financing approval management mechanism, dynamically reviewed and made differentiated arrangements for credit policies and credit approval policies, promoted intensive operation of inclusive and retail loans and improved the quality and efficiency of non-performing asset settlement. The non-performing loan ratio was decreased by 0.03 percentage points YOY. The special-mentioned loan was decreased by 0.12 percentage points YOY. Strengthened new risk management and control. CCB re-examined online business rule models, strengthened information technology risk management & control and effectively responded to various risks like data security, gambling-related and fraud-related risks. Improved internal control and compliance management. CCB strengthened consumer rights protection and continuously established the 'Warm Consumer Protection' brand.

Adhered to lean management to continuously reduce costs, improve quality and increase efficiency

CCB strengthened agile empowerment and lean management, fully implemented cost reduction, quality improvement and efficiency enhancement measures, accelerated digital and intelligent transformation, consolidated technology and channel foundations and helped to maximize comprehensive customer service efficiency and the group's overall value.

Deepened institutional and mechanism reforms. CCB steadily advanced and improved ten major systems, including corporate governance, customer and product services and asset-liability management. It leveraged the decision-making role of the Committee for Strategic Plan Formulation and Implementation and Comprehensive Reform Deepening and clarified the operational strategies and focal areas of key sectors. It also implemented the 'open-door consultation' approach across the bank and developed a daily platform for smooth and two-way communication with the grassroots staffs. Deepened comprehensive cost management. CCB adhered to frugality in bank operation and improved a dynamically adaptive financial resource allocation mechanism. It focused on five major costs: funding cost, operational cost, capital cost, credit cost and tax cost, seeking efficiency through lean management and striving to improve input-output quality and efficiency. Promoted digital and intelligent transformation. On the basis of taking the lead in completing a comprehensive architectural transformation of the core business systems, CCB strengthened the foundation of digital infrastructure, with an increase of 12.10% in the total computing power of 'CCB Cloud'. It established a full-chain enterprise-level artificial intelligence technology system and deeply penetrated wealth management, inclusive finance, risk management, technological research and development and other sectors. Established an enterprise-level operation system. CCB promoted the online and digital transformation of counter services, strengthened the deployment of business across all channels, enhanced the efficiency and quality of centralized operations and provided customers with 'one-stop' and 'one-click' services.

Year 2026 marks the beginning of the 15th Five-Year Plan. China Construction Bank will adhere to Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era as a guide, fully implement the spirit of the 20th National Congress of the Communist Party of China and the subsequent plenary sessions of the 20th Central Committee, firmly establish and practice the correct management, performance and risk philosophies, stick to the principle of truth and pragmatism, work diligently, unswervingly promote high-quality connotative development and take the lead and set an example in serving the Chinese-style modernization drive.