Agricultural Bank of China : The First Quarterly Report of 2019 2019-04-26

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.

AGRICULTURAL BANK OF CHINA LIMITED

中 國 農 業 銀 行 股 份 有 限 公 司

(a joint stock company incorporated in the People's Republic of China with limited liability)

(Stock Code: 1288)

THE FIRST QUARTERLY REPORT OF 2019

The Board of Directors (the "Board") of Agricultural Bank of China Limited (the "Bank") is pleased to announce the unaudited results of the Bank and its subsidiaries (collectively the "Group") for the first quarter ended 31 March 2019, prepared under International Financial Reporting Standards (the "IFRSs"). This announcement is made in accordance with Part XIVA of the Securities and Futures Ordinance (Cap. 571, Laws of Hong Kong) and Rule 13.09(2) and Rule 13.10B of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

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§1 CORPORATE INFORMATION

1.1Basic corporate information

Stock exchange on which		Shanghai Stock Exchange
A shares are listed		農業銀行
	Stock name
	Stock code	601288
Stock exchange on which		The Stock Exchange of Hong Kong Limited
H shares are listed
	Stock name	ABC
	Stock code	1288
Trading exchange and platform		The Integrated Business Platform of Shanghai Stock Exchange
	of preference shares	農行優1, 農行優2
	Stock name
	Stock code	360001, 360009
Secretary to the Board and		Zhou Wanfu
	Company Secretary	Address: No. 69, Jianguomen Nei Avenue,
		Dongcheng District, Beijing, PRC
		(Postal code: 100005)
		Tel: [phone] (Investors enquiry)
		Fax: [phone]
		E-mail: [e-mail]

1.2Major financial data

Financial data and indicators recorded in this quarterly financial report are the data of the Group prepared in accordance with the IFRSs and denominated in Renminbi ("RMB"), unless otherwise stated.

1.2.1 Major financial data and indicators

In millions of RMB, unless otherwise stated

			Change as
			compared to
	31 March	31 December	the end of
	2019	2018	2018 (%)
Total Assets	23,657,926	22,609,471	4.64
Loans and advances to customers, net	12,155,507	11,461,542	6.05
Deposits with banks and other financial institutions	175,532	109,728	59.97
Placements with and loans to banks and	487,107	552,013	-11.76
other financial institutions
Financial investments	6,998,722	6,885,075	1.65
Total liabilities	21,920,411	20,934,684	4.71
Deposits from customers	18,447,181	17,346,290	6.35
Deposits from banks and other financial institutions	1,202,597	1,124,322	6.96
Placements from banks and other financial institutions	342,724	325,541	5.28
Equity attributable to equity holders of the Bank	1,732,411	1,670,294	3.72
Net assets per share (in RMB Yuan)	4.72	4.54	3.96

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In millions of RMB, unless otherwise stated

	Three months	Three months	Change as
	ended 31	ended 31	compared to
	March 2019	March 2018	the same period
	(January-March)	(January-March)	of 2018 (%)
Operating income	173,606	157,238	10.41
Net profit	62,121	59,040	5.22
Net profit attributable to equity holders	61,251	58,736	4.28
of the Bank
Net cash flow from operating activities	263,874	(117,938)	N/A
Basic earnings per share (in RMB Yuan)	0.17	0.17	-
Diluted earnings per share (in RMB Yuan)	0.17	0.17	-
Return on weighted average net assets	14.96	17.22	Decreased by
(annualized, %)1			2.26
			percentage
			points

Note: 1. Computed by dividing the amount of annualized net profit attributable to equity holders of the Bank less

the dividends on preference shares declared in the period, by the weighted average net assets.

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1.2.2Differences between the financial statements prepared under the IFRSs and Generally Accepted Accounting Principles of the People's Republic of China ("PRC GAAP")

There are no differences between the net profit or shareholder's equity for the reporting period in the consolidated financial statements of the Group prepared under the IFRSs and the PRC GAAP.

1.3Particulars of shareholding of ordinary shares at the end of the reporting period

At the end of the reporting period, the Bank had 445,125 shareholders of ordinary shares in total, including 23,073 shareholders of H shares and 422,052 shareholders of A shares.

Particulars of shareholding of the top 10 shareholders of ordinary shares

(based on the registers of shareholders as at 31 March 2019)

						Unit: Share
			Shareholding		Number of		Number of
	Nature of	Type of			shares subject		pledged or
			percentage	Total number	to restrictions		locked-up
Name of shareholders	shareholder	shares	(%)	of shares held	on sales		shares
Central Huijin Investment	State-owned	A shares	40.03	140,087,446,351	10,082,342,569		None
Ltd. ("Huijin")
Ministry of Finance of the PRC	State-owned	A shares	39.21	137,239,094,711	9,877,329,974		None
HKSCC Nominees Limited	Overseas legal	H shares	8.73	30,568,540,236	-		Unknown
	entity
National Council for Social	State-owned	A shares	2.80	9,797,058,826	-		None
Security Fund of the PRC
China National Tobacco	State-owned	A shares	0.72	2,518,891,687	2,518,891,687		None
Corporation	legal entity
China Securities Finance	State-owned	A shares	0.53	1,842,751,186	-		None
Corporation Limited	legal entity
China Life Insurance Company	Other	A shares	0.46	1,605,878,472	-		None
Limited - Dividend distribution
- Individual dividend
- 005L - FH002Hu
Shanghai Haiyan Investment	State-owned	A shares	0.36	1,259,445,843	1,259,445,843		None
Management Company Limited	legal entity
Central Huijin Asset Management	State-owned	A shares	0.36	1,255,434,700	-		None
Ltd.	legal entity
Hong Kong Securities Clearing	Overseas legal	A shares	0.29	998,613,594	-		None
Company Limited	entity

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Notes:1. The total number of shares held by HKSCC Nominees Limited represents the number of H shares in aggregate held by it as a nominee on behalf of all institutional and individual investors registered with it as at 31 March 2019.

2.Among the above shareholders, Central Huijin Asset Management Ltd. is a wholly-owned subsidiary of Huijin and China National Tobacco Corporation is the de facto controller of Shanghai Haiyan Investment Management Company Limited. Apart from these, the Bank is not aware of any connections between the shareholders above or whether they are parties acting in concert. The number of shares held by Huijin and Central Huijin Asset Management Ltd., a wholly-owned subsidiary of Huijin, accounted to 141,342,881,051 in aggregate, accounting for 40.39% of the total shares of the Bank. The number of shares held by China National Tobacco Corporation and Shanghai Haiyan Investment Management Company Limited accounted to 3,778,337,530 in aggregate, accounting for 1.08% of the total shares of the Bank.

3.The shares held by the Hong Kong Securities Clearing Company Limited., which acts as the nominee designated by and on behalf of the Hong Kong and overseas investors, are A shares acquired by Hong Kong and overseas investors (via the Shanghai-Hong Kong Stock Connect).

Particulars of shareholding of the top 10 shareholders of ordinary shares not subject to restrictions on sales (based on the registers of shareholders as at 31 March 2019)

		Unit: Share
	Number of
	Shares not
	subject to
	restrictions
Name of shareholders	on sales	Type of shares
Huijin	130,005,103,782	A shares
Ministry of Finance of the PRC	127,361,764,737	A shares
HKSCC Nominees Limited	30,568,540,236	H shares
National Council for Social Security Fund of the PRC	9,797,058,826	A shares
China Securities Finance Corporation Limited	1,842,751,186	A shares
China Life Insurance Company Limited - Dividend	1,605,878,472	A shares
distribution - Individual dividend - 005L - FH002Hu
Central Huijin Asset Management Ltd.	1,255,434,700	A shares
Hong Kong Securities Clearing Company Limited	998,613,594	A shares
Wutongshu Investment Platform Co., Ltd.	980,723,700	A shares
China Life Insurance Company Limited - Traditional -	769,942,161	A shares
Ordinary insurance products - 005L - CT001Hu

Notes:1. The total number of shares held by HKSCC Nominees Limited represents the number of H Shares in aggregate held by it as a nominee on behalf of all institutional and individual investors registered with it as at 31 March 2019.

2.Among the above shareholders, Central Huijin Asset Management Ltd. is a wholly-owned subsidiary of Huijin. "China Life Insurance Company Limited - Dividend distribution - Individual dividend - 005L - FH002Hu" and "China Life Insurance Company Limited - Traditional - Ordinary insurance products - 005L - CT001Hu" are under the management of China Life Insurance Company Limited. Apart from these, the Bank is not aware of any connections between the shareholders above or between the shareholders above and the top 10 shareholders of ordinary shares or whether they are parties acting in concert.

3.The shares held by the Hong Kong Securities Clearing Company Limited, which acts as the nominee designated by and on behalf of the Hong Kong and overseas investors, are A shares acquired by Hong Kong and overseas investors (via the Shanghai-Hong Kong Stock Connect).

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