On Aug. 29, 2025, China Construction Bank Corporation (CCB) (Stock code: SH: 601939; HK: 00939) reported its operating results for the 2025 H1 (The following data for the Group were prepared in line with International Financial Reporting Standards and denominated in RMB). In the first half of the year, CCB resolutely implemented the decisions and arrangements of the Party Central Committee and the State Council, took improving the "Three Capabilities" as the fundamental principle, stuck to the goal of high-quality development, realized reasonable quantity growth with effective quality improvement and promoted new progress and new achievements in connotative high-quality development. Key performance indicators were stable and upward; assets and liabilities were robust, healthy and coordinated; the risk control was strong and orderly; and the business development scored good performance.

Positively Stable Operating Results

The key performance indicators were stable and upward. Key performance indicators achieved positive growth: As of the end of June 2025, the operating income was RMB 385.905 billion, a year-on-year increase of 2.95%; the net service charge and commission income was RMB 65.218 billion, up by 4.02% YOY. The pre-provision operating profit was RMB 290.103 billion, up by 3.37% YOY; the provision coverage ratio was 239.40%, up by 5.8 percentage points compared with that at the end of last year. The net profit was 162.638 billion. The net interest yield was 1.40%, and the annualized average return on asset was 0.77%. The annualized weighted average return on equity (ROE) was 10.08%. The capital adequacy ratio was 19.51%, the core indicators were balanced and coordinated, maintaining a leading position among comparable peers. CCB kept repaying the vast investors with continuous and stable dividends. Since its listing, the cumulative dividend has exceeded 1.3 trillion Yuan, and the dividend exceeded one hundred billion in 2023 and 2024; two dividends will be distributed in 2025, with the interim dividend ratio remaining at 30%.

The asset-liability structure continued to be optimized.

The total assets amounted to 44.43 trillion, up by 9.52% over the end of the previous year, including total loans of RMB 27.44 trillion, up by 6.20% over the end of last year; the financial investment was 11.77 trillion, up by 10.17% over the end of last year. The balance of loans and debentures accounted for 90%. The total liabilities reached RMB 40.85 trillion, up by 9.73% over the end of last year, including deposits of RMB 30.47 trillion, up by 6.11% over the end of the previous year. The balance of overseas current deposit accounted for over 40%, leading the industry among comparable peers.

Operation, risk and capital controls were effective. CCB deepened comprehensive cost management, continuously improving input-output quality and efficiency. Its cost-income ratio was 23.72%, down by 0.43 percentage points on a YOY basis and continuing to remain on a high level. The non-performing loan ratio was 1.33%, down by 0.01percentage points compared with that at the end of last year, and the asset quality remained stable and controllable. The special-mentioned loan accounted for 1.81%, down by 0.08 percentage points as compared with that at the end of last year. The provision coverage ratio was 239.40%, up by 5.8 percentage points compared with that at the end of last year, thus further enhancing its risk compensation ability. The core Tier 1 capital adequacy ratio was 14.34%, maintaining industry-leading capital adequacy level. The capital increase work was completed in a quality and efficient manner, thus further enhancing its ability to resist risks and serve the substantive economy. By Tier 1 capital, it has ranked the second among the top 1,000 global banks in the British Banker for 12 consecutive years.

Strengthened Supply of Quality Financial Products and Made Substantial Achievements in Five Major Sectors

CCB aggressively guided financial resources towards hi-tech and innovation sectors through technology financing; strengthened coordination between parent company and subsidiaries and promoted the development of "integrated financial services", including "share, loan, debt, insurance and lease". The balance of loans to the hi-tech sector reached RMB 5.15 trillion, up by 16.81% over the end of the previous year. CCB founded and registered 9 financial asset investment companies (AIC) pilot funds cumulatively; underwrote the first batch of scientific and technological innovation bonds in the interbank market and issued the first scientific and technological innovation asset-backed securities in the interbank market.

The diversified service system of green finance continued to improve. The balance of green loans reached RMB 5.72 trillion, up by 14.88% over that at the beginning of the year. It underwrote 77 issues of green and sustainable development bonds at home and abroad, with an underwriting scale of RMB 235.556 billion. Its self-operated debt investment portfolio included an investment of more than RMB 250 billion in the green sector. Its MSCI ESG rating was AAA and its ESG market evaluation remained leading in the world.

Inclusive finance witnessed improvement in service quality and efficiency through diversified measures. CCB deeply integrated online and offline service models and optimized and upgraded the "CCB Huidongni" integrated ecological service platform. The balance of the inclusive finance loans to micro and small-sized enterprises was RMB 3.74 trillion, up by 9.80%; there were 3.66 million loan clients, up by 304,500 clients over that at the end of the previous year. CCB continued to reduce expenses and lower profitability so as to lower the financing costs of enterprises.

CCB aggressively enhanced the competitiveness of three pillar industries with pension finance. Number of personal pension accounts and transfer-in amount keep leading the industry.CCB Endowment managed a total scale of 654.065 billion Yuan in two pillar assets. Both CCB and CCB Endownment explored the annuity market together and their number of clients increased by 53.96% compared with that at the end of last year. CCB fully improved the online and offline elderly service level and increased the number of featured outlets of "JianYangAn" pension finance to 222.

CCB promoted the digitalization and intelligentization of the group and helped with the development of core industries of the digital economy with digital finance. The number of active users of mobile banking and "CCB Life" reached 243 million, up by 14.40% YOY. CCB solidly promoted the pilot project of e-CNY and completed 522 million transactions cumulatively. The balance of the loans to support the core industry of the digital economy amounted to RMB 852.377 billion, up by 13.44% over that at the beginning of the year.

Stuck to the Origin and Fully Supported the Substantive Economy

Robustly and effectively served the national construction. CCB promoted the implementation of major national strategies and built up security capacity in key areas. The balance of loans to relevant key industries including infrastructures grew stably. Its medium and long-term loans for the manufacturing sector was RMB 1.79 trillion, up by 10.25% over the end of last year. CCB supported the implementation of proactive fiscal policies, the subscription for national debts and local government bonds hit a new high, and the underwriting volume maintained its industry-leading status. CCB contributed to industrial restructuring and upgrading. The loans to strategic emerging industries was RMB 3.39 trillion, up by 18.92%. CCB promoted implementation of the action plan to support the private economy, with a loan of RMB 6.59 trillion to private enterprises, up by 9.92% over the end of the previous year. CCB served the major regional initiatives and regional coordinated development strategy of China, with an increase of RMB 820 billion in undiscounted CNY lending to companies in the Beijing-Tianjin-Hebei Urban Agglomeration, the Yangtze River Delta, the Guangdong-HK-Macau Greater Bay Area and the Cheng-Yu District and RMB 470 billion in undiscounted CNY lending to companies in Northeast China and Central West China. CCB solidly implemented the farmer, agriculture and countryside-related financial work, with a balance of RMB 3.62 trillion in farmer, agriculture and countryside-related loans, up by 8.47% as compared with that at the end of last year; the balance of loans within the county scope amounted to RMB 5.93 trillion, up by 8.80% as compared with that at the end of last year.

Helped boost consumption and expand domestic demands. CCB implemented the action plan to financially support large-scale equipment renewal, with a cumulative loan of over RMB 90 billion; implemented the action plan of consumer finance, with a balance of RMB 614.194 billion in individual consumption lending, up by RMB 86.299 billion over the end of the previous year, maintaining leadership in loan balance, incremental loan and asset quality among industrial peers. The balance of credit card loans amounted to RMB 1.05 trillion, maintaining industrial leadership in the scale of loans. “CCB Life” distributed consumption coupons in a value of RMB 5.6 billion in 172 cities, driving domestic consumptions of RMB 40 billion. CCB supported people’s rigid and improved housing demands; the balance of individual housing loans was 6.15 trillion, with industrial leadership in loan balance, new loan and asset quality; and its traditional advantages in housing finance were continuously strengthened.

Solidly promoted the effective implementation of a package of new policies. CCB increased supports to the "three major projects" and effectively served the city's connotative development. It deeply implemented the coordinated work mechanism to support the financing of micro and small-sized enterprises, with a cumulative credit of RMB 2 trillion. It actively promoted loans for share repurchase and purchase and served nearly 100 listed companies and their main shareholders cumulatively.

Supported high-level opening-up. In the first half of the year, the loan for trade financing was RMB 1.38 trillion, up by 6.56% YOY. CCB completed cross-border settlement of a total of RMB 3.14 trillion, up by 23.21% YOY. Since London Branch was designated as the RMB clearing bank in the UK, it had a cumulative clearing settlement value of nearly RMB 148 trillion and thus maintained its status as the largest RMB clearing bank outside Asia. RCEP regional subsidiaries played a significant role, with assets of over USD 200 billion. CCB aggressively supported construction of the "Belt & Road" Initiative, with rapidly growing profitability of overseas subsidiaries and a net profit growth of 57.19% YOY.

Strengthened the Base to Stimulate Intrinsic Initiatives

Consolidated the base of operations. CCB optimized relevant mechanisms; explored for the "ring, chain and group" service mode; promoted the integration of urban and rural areas, the integration of home and foreign currencies, the integration of commercial and investment banking, the integration of online and offline services and the group integration; deeply implemented layered and coordinated operation of customers; continuously consolidated the customer base; and realized optimization of comprehensive customer service and maximization of general group value. It had 12.26 million corporate customers, up by 588,500 over that at the end of the last year. It had 777 million individual customers, up by 5.7 million over that at the end of last year.

Strengthened the support of channel operation through science and technology. CCB systematically promoted all-round, full-chain and systematic digitalization and intelligent transformation, improved the level of AI productization, strengthened the capacity building of large financial models, comprehensively empowered 274 application scenarios in the bank and preferentially supported core areas like credit approval, intelligent customer service, "BangDe" personal account manager assistants, and intelligent R&D empowerment. It continuously improved the open, intensive, efficient and intelligent operation system, promoted the deep integration of online and offline channels and provided customers with convenient, efficient and consistent services.

Firmly stuck to the bottom line of no systemic risk. CCB adhered to the concept of comprehensive risk management, continuously improved the internal risk control system and mechanism, strengthened the collaborative risk control between parent and subsidiary companies and between domestic and foreign subsidiaries and enhanced the group's integrated risk management and control capabilities. It accelerated the construction of an enterprise-level intelligent risk control system and improved the intelligentization level of customer and business risk monitoring and early warning. It did a good job in risk controls relating to asset quality and key areas and kept the overall level of real estate and local government debt risks under control.

Going forward, CCB will always stick to President Xi's thoughts of socialism with Chinese characteristics in the new era as the guide; cultivate and practice the financial culture with Chinese characteristics, firmly establish the correct business philosophy, performance philosophy and risk philosophy; continuously and deeply promote connotative quality development; try to play a "leading" role in serving the substantive economy and become a "ballast" that maintains financial stability; firmly pursue the path of development with Chinese characteristics; and make greater contributions to promoting the construction of China as a strong financial country and serving the Chinese-style modernization drive.