On Apr. 29, 2026, China Construction Bank (stock code: SH: 601939; HK: 00939) ("CCB" or the "Bank") announced its operating results for the 1st quarter of 2026. Guided by the Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, CCB deeply studied and implemented the spirit of the 20th National Congress of the Communist Party of China and the successive plenary sessions of the 20th Central Committee, profoundly grasped the political and people-oriented nature of financial work, followed the fundamental principle of enhancing the 'three capabilities,' firmly established and practiced the correct concepts of operation, performance, and risk, collectively considered development and security, focused on its main responsibilities and business, aimed to optimize and strengthen its operations and served the general goals effectively and proactively. It has registered a good beginning in general operations, achieving higher quality development and stronger endogenous momentum and thus laying a solid foundation for opening a new chapter in the '15th Five-Year Period'.

Positively stable operating results

Adhering to the principle of quality first and prioritizing efficiency, CCB registered a good beginning in its first-quarter operations, with a steady growth trend in profitability. Core indicators remained stable, balanced and coordinated, leading among comparable peers, and new achievements were made in connotative high-quality development.

Its profitability improved stably, with a growth trend and an increasing growth rate in both operating income (International Financial Report Standard, the same below) and net profit. It achieved a first-quarter operating income of 206.415 billion Yuan, up by 10.98% YOY; a net profit of 86.821 billion Yuan, an increase of 3.68% YOY; a net profit attributable to shareholders of the Bank of 86.291 billion Yuan, a year-on-year increase of 3.53%. It registered a stable growth in general, with a total asset of 47.13 trillion Yuan, up by 3.29% over that at the end of last year, and a total liability of 43.36 trillion Yuan, up by 3.38% over that at the end of last year. Relevant indicators remained robust and balanced, with a net differential interest rate of 1.36%, up by 0.02 percentage points over that of last year. Its annualized average return on assets was 0.75% and its annualized weighted average return on net assets was 9.85%. It had stable and controllable risks, with a NPL ratio of 1.31% which was basically the same as that at the end of last year; its provision coverage ratio was 234.02%, up by 0.87 percentage points over that at the end of last year. Its overall risk compensation was relatively sufficient.

It greatly and effectively served the general national goals.

Adhering to the principle of focusing on the substantive economy in a professional and dedicated way, CCB, based on the missions and responsibilities of a large-size state-owned bank, closely followed the national strategies for the "15th Five-Year Period" and fully assisted in accelerating the construction of a new development pattern.

Took proactive measures to support the substantive economy. It increased credit investments, including lending to the substantive economy and bond investments, to support a good start for the national economy, with lending to domestic companies of 16.94 trillion Yuan, up by 7.94% over that at the end of last year. It actively supported the development of new quality productive forces, served the construction of a modern industrial system, and promoted the implementation of a series of service plans, i.e. "Good at Intelligent Manufacturing," "Good at Strengthening Fundamentals," and "Good at Technology." Loans to the manufacturing sector increased by 17% compared to the end of last year. It actively assisted in promoting consumption, stabilizing the market and expanding investment. It implemented a package of policies on fiscal and financial coordination with high quality and efficiency to boost domestic demand. It consolidated traditional advantages in retail credit, with a balance of domestic personal loans of 9.13 trillion Yuan. It actively served the country's major regional strategies and coordinated regional development strategies. Credit lending in key regions such as Beijing–Tianjin–Hebei Urban Agglomeration, Yangtze River Delta, Guangdong-Hong Kong-Macao Greater Bay Area and Chengdu-Chongqing Area continued to increase, with a higher-than-industrial-average growth rate in county-level deposits and loans. It served high-level opening-up and the development of national free trade zones and Hainan Free Trade Port, strongly supported stable foreign trade and investment and actively assisted the internationalization of the CNY. The amount of cross-border CNY settlement grew rapidly.

It served the full implementation of the "five major measures" financially. It aimed to become a leading bank in hi-tech finance and comprehensively promoted integrated financial services of "stocks, loans, bonds, insurance, and leasing," with a hi-tech loan balance of 6 trillion Yuan. The underwriting scale of hi-tech innovation bonds increased by 496.45% year-on-year and 38 pilot equity investment funds for financial asset investment companies (AIC) were established cumulatively. Green finance supported the green transition of economic and social development. The balance of green loans was 6.6 trillion Yuan, and the bank's balance of bonds invested in the green sector exceeded 270 billion Yuan. Inclusive finance continuously met the diversified financial needs of customers, with an inclusive loan balance of 4.09 trillion Yuan and 3.82 million loan customers. It assisted in the comprehensive revitalization of the countryside, with an agricultural-related loan balances of 3.96 trillion Yuan. Pension finance promoted the construction of a service system, enriching the three major product lines of "Anxin", "Jianzao" and "Yiyang" with a total scale of over 1 trillion Yuan in corporate annuity trusteeship, custody, and investment management. In digital finance, it systematically advanced artificial intelligence applications, with large AI models cumulatively empowering over 400 scenario applications of the group. The total number of mobile banking and 'CCB Life' APP users reached 551 million and the loan balance for core industries in the digital economy exceeded one trillion Yuan.

Development quality improved steadily

Adhering to steady progress and solid innovation, CCB focused on building a clean, healthy, and resilient balance sheet and a reasonably structured income statement, with efforts to enhance the 'five major qualities.'

In terms of asset quality, the asset structure continuously optimized, with an increase in the proportion of loans and financial investments. Net loans amounted to 27.98 trillion Yuan, an increase of 4.28% over the end of last year, and its ratio to total assets increased by 0.56 percentage points. The ratio of credits to the "five major measures" financially, the manufacturing sector and other key sectors increased stably. Financial investments reached 13.72 trillion Yuan, up by 6.40% over the end of the previous year; and its ratio to total assets increased by 0.85 percentage points, mainly due to increase in government bond investments. In terms of liability quality, the structure was continuously optimized and the costs decreased stably. The amount of deposits was 32.42 trillion Yuan, up by 5.13% as compared with that at the end of last year; its ratio to total liability increased by 1.24 percentage points, including over 40% current deposits; individual loans grew stably and their contribution ratio continued to increase. In terms of capital quality and efficiency, its capital scale remained adequate and stable, with a capital adequacy ratio of 19.00% and a core Tier 1 capital adequacy ratio of 14.26%, maintaining leadership among industrial peers. In terms of income quality, its income driving forces became increasingly diversified, with YOY growth in both net interest income and non-interest income. Its net interest income grew by 8.13% YOY, registering recovering growth; its net non-interest income grew by 20.15% YOY and its ratio to operating income increased by 1.96 percentage points YOY; its net service charge and commission income increased by 6.72% YOY and its net other non-interest incomes kept rapid growth. In terms of cost quality and efficiency, it benefited from comprehensive cost management and lean management and increased investment output and operating efficiency, with a cost to income ratio of 21.27%, down by 1.70 percentage points YOY.

Solidly promoted the 'Four Integrations'

Adhering to the customer-centric and market-oriented approach, CCB aligned with the economic development model, industrial patterns, and social financing structure development trend during the 15th Five-Year period, deepened collaboration and joint operation and solidly promoted integrated and comprehensive transformation.

Promoted the integration of commercial and investment banking. It strengthened the construction of a comprehensive service system for corporate clients throughout the entire lifecycle and enhanced integrated service capabilities such as equity-debt linkage, mergers and acquisitions and securitization. The underwriting scale of debt financing instruments for non-financial enterprises increased by 18.59% year-on-year, and merger and acquisition loans grew rapidly. Promoted the integration of public and private services. It deepened the ecosystem-based operations for payroll and social security card services, continuously upgraded and promoted the payroll platform 'Xinxiangtong' and created a comprehensive 4-in-1 service package of "settlement, wealth, credit, and equity". Promoted the integration of home and foreign currencies. It focused on the global financial service needs of foreign trade, foreign investment, and 'going-global' clients, created a full-process, one-stop international business product and service system and accelerated the development of global asset allocation services for individual clients, with major operational indicators like international business credit, client base and settlement volume achieving double-digit growth year-on-year. Promoted group integration. It further streamlined the coordination and joint operation mechanism between parent and subsidiaries and between domestic and overseas facilities, with overseas institutions and subsidiaries maintaining robust growth in asset-liability scale, and an increase of over 20% in net profit year-on-year.

Strengthened risk management measures.

Adhering to the bottom-line thinking and extreme thinking, CCB strengthened comprehensive, proactive, intelligent and agile risk management, enhancing the ability to serve high-quality development while sticking to the bottom of risk control.

Continuously improved the internal risk control and management system. It improved the 'three defense lines' working mechanism, deepened risk co-governance between parent and subsidiary companies and enhanced penetration management of overseas institutions. It strengthened risk checks and balances in key processes such as business entry, rating, approval and post-lending management and improved the balance of returns, risks, and capital. Prudently advanced the prevention and resolution of risks in key areas. It implemented classified measures to prevent and control risks in key areas, strengthened intensive operation of inclusive retail credit, and improved the quality and efficiency of non-performing asset resolution. It continuously conducted structural and trend risk assessments to enhance forward-looking risk judgment and handling capabilities. Optimized the comprehensive financing approval management mechanism. It optimized the rating management mechanism, refined the management of the comprehensive financing approval process, continuously enhanced project evaluation management and improved the response efficiency. Increased the intelligentization level of risk management. It embedded digital risk control tools into its business processes to build an intelligent risk control system that deeply integrated "online and offline" as well as "intelligent and manual" processes.

At the next step, CCB will continue to uphold Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era as its guide, fully implement the spirit of the 20th National Congress of the Communist Party and the subsequent plenary sessions of the 20th Central Committee, closely follow the 15th Five-Year Plan, consolidate advantages in traditional specialized fields, advance transformation and upgrading work in line with the times, firmly promote connotative high-quality development and take the lead and set an example in serving the Chinese-style modernization drive.