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MarketScreener Homepage  >  Equities  >  Hong Kong Stock Exchange  >  Industrial and Commercial Bank of China Limited    1398   CNE1000003G1

INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED

(1398)
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Industrial and Commercial Bank of China : Third Quarterly Report of 2020

10/30/2020 | 11:05am EST

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.

Stock Code: 1398

EUR Preference Shares Stock Code: 4604

USD Preference Shares Stock Code: 4620

INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED

THIRD QUARTERLY REPORT OF 2020

The Board of Directors of Industrial and Commercial Bank of China Limited ("the Bank") announces the results of the Bank and its subsidiaries ("the Group") for the third quarter ended 30 September 2020. This report is made in accordance with Part XIVA 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.

1. IMPORTANT NOTICE

  1. The Board of Directors, the Board of Supervisors, Directors, Supervisors and Senior Management members of Industrial and Commercial Bank of China Limited undertake that the information in this report contains no false record, misleading statement or material omission; and assume individual and joint and several liability for the authenticity, accuracy and completeness of the information in this report.
  2. The Third Quarterly Report of 2020 has been considered and approved at the meeting of the Board of Directors of the Bank held on 30 October 2020. All directors of the Bank attended the meeting.
  3. These quarterly financial statements have not been audited.
  4. Mr. Chen Siqing, Legal Representative of the Bank, Mr. Gu Shu, President in charge of finance of the Bank, and Mr. Liu Yagan, General Manager of the Finance and Accounting Department of the Bank, hereby warrant and guarantee that the financial statements contained in this quarterly report are authentic, accurate and complete.

1

2. CORPORATE INFORMATION

2.1

Basic information

Stock exchange on

Stock name

Stock code

which shares are listed

A Share

工商銀行

601398

Shanghai Stock Exchange

H Share

ICBC

1398

The Stock Exchange of

Hong Kong Limited

Domestic Preference

工行優 1

360011

Shanghai Stock Exchange

Share

工行優 2

360036

Offshore Preference

ICBC EURPREF1

4604

The Stock Exchange of

Share

ICBC 20USDPREF

4620

Hong Kong Limited

Board Secretary and Company Secretary

Name

Guan Xueqing

Address

55 Fuxingmennei Avenue, Xicheng District,

Beijing, China (Postal code: 100140)

Telephone

86-10-66108608

Facsimile

86-10-66107571

E-mail

ir@icbc.com.cn

2.2 Major accounting data and financial indicators

2.2.1 Major accounting data and financial indicators prepared based on International Financial Reporting Standards ("IFRSs")

(In RMB millions, unless otherwise specified)

Changes as

compared to the end

30 September 2020

31 December 2019

of last year (%)

Total assets

33,471,851

30,109,436

11.17

Total loans and advances to customers

18,443,307

16,761,319

10.03

Allowance for impairment losses on loans(1)

542,916

478,730

13.41

Investment

8,580,136

7,647,117

12.20

Total liabilities

30,649,771

27,417,433

11.79

Due to customers

25,585,348

22,977,655

11.35

Due to banks and other financial institutions

2,626,922

2,266,573

15.90

Equity attributable to equity holders of

2,806,279

2,676,186

4.86

  the parent company

Net asset value per share (RMB yuan)

7.24

6.93

4.47

Note: (1) Calculated by adding allowance for impairment losses on loans and advances to customers measured at amortised cost with allowance for impairment losses on loans and advances to customers measured at fair value through other comprehensive income.

2

Changes as

Changes as

Three months

compared to the

Nine months

compared to the

ended

three months ended

ended

nine months ended

30 September

30 September

30 September

30 September

2020

2019 (%)

2020

2019 (%)

Operating income

197,901

3.90

600,247

2.66

Net profit

80,377

(4.31)

230,173

(8.91)

Net profit attributable to equity holders

79,885

(4.65)

228,675

(9.15)

  of the parent company

Net cash flows from operating activities

N/A

N/A

2,020,442

67.22

Basic earnings per share (RMB yuan)

0.22

(8.33)

0.64

(9.86)

Diluted earnings per share (RMB yuan)

0.22

(8.33)

0.64

(9.86)

Return on weighted average equity

11.50

A decrease of

11.65

A decrease of

  (%, annualised)

2.62 percentage points

2.65 percentage points

2.2.2 Reconciliation of differences between the financial statements prepared under Generally Accepted Accounting Principles of the People's Republic of China ("PRC GAAP") and those under IFRSs

In respect of the financial statements of the Group prepared under PRC GAAP and those under IFRSs, net profit attributable to equity holders of the parent company for the reporting period ended 30 September 2020 and equity attributable to equity holders of the parent company as at the end of the reporting period have no differences.

3

2.3 Number of shareholders and particulars of shareholding

As at the end of the reporting period, the Bank had a total of 719,597 ordinary shareholders, including 117,841 holders of H shares and 601,756 holders of A shares.

PARTICULARS OF SHAREHOLDING OF THE TOP 10 ORDINARY SHAREHOLDERS OF THE BANK

Unit: Share

Number of

Changes of

pledged or

shares during

Class of

Shareholding

Total number of

locked-up

the reporting

Name of shareholder

Nature of shareholder

shares

percentage (%)

shares held

shares

period

Central Huijin Investment Ltd.

State-owned

A Share

34.71

123,717,852,951

None

-

Ministry of Finance of the People's

State-owned

A Share

31.14

110,984,806,678

None

-

  Republic of China

HKSCC Nominees Limited(2)(4)

Foreign legal person

H Share

24.18

86,166,304,283

Unknown

13,155,242

National Council for Social

State-owned

A Share

3.46

12,331,645,186

None

-

  Security Fund(2)(3)

Ping An Life Insurance Company

Other entities

A Share

1.03

3,687,330,676

None

-

  of China, Ltd. - Traditional -

  Ordinary insurance products

China Securities Finance Co., Ltd.

State-owned legal person

A Share

0.68

2,416,131,564

None

-

Hong Kong Securities

Foreign legal person

A Share

0.29

1,043,666,606

None

-299,011,210

  Clearing Company Limited

Central Huijin Asset Management

State-owned legal person

A Share

0.28

1,013,921,700

None

-

  Co., Ltd.(4)

China Life Insurance Company Limited

Other entities

A Share

0.13

470,683,288

None

93,012,961

  - Traditional - Ordinary insurance

  products - 005L - CT001 Hu

Taiping Life Insurance Co., Ltd.

Other entities

A Share

0.11

387,807,151

None

24,521,800

  - Traditional - Ordinary insurance

  products - 022L - CT001 Hu

Notes: (1) The above data are based on the Bank's register of shareholders as at 30 September 2020.

  1. Total number of shares held by HKSCC Nominees Limited refers to the total H shares held by it as a nominee on behalf of all institutional and individual investors registered with accounts opened with HKSCC Nominees Limited as at 30 September 2020. According to the information provided by National Council for Social Security Fund to the Bank, these shares included 7,946,049,758 H shares of the Bank held by National Council for Social Security Fund. Total number of shares held by HKSCC Nominees Limited also included H shares of the Bank held by Ping An Asset Management Co., Ltd., Temasek Holdings (Private) Limited and China Life Insurance (Group) Company.
  2. According to the Notice on Comprehensively Transferring Part of State-Owned Capital to Fortify Social Security Funds (Cai Zi [2019] No. 49), Ministry of Finance of the People's Republic of China transferred 12,331,645,186 shares to the state-owned capital transfer account of National Council for Social Security Fund in a lump sum in December 2019. According to the relevant requirements under the Notice of the State Council on Issuing the Implementation Plan for Transferring Part of State-Owned Capital to Fortify Social Security Funds (Guo Fa [2017] No. 49), National Council for Social Security Fund shall perform the obligation of more than 3-yearlock-up period as of the date of the receipt of transferred shares.
  3. HKSCC Nominees Limited is a wholly-owned subsidiary of Hong Kong Securities Clearing Company Limited. Central Huijin Asset Management Co., Ltd. is a wholly-owned subsidiary of Central Huijin Investment Ltd. Save as disclosed above, the Bank is not aware of any connected relations or concert party action among the afore-mentioned shareholders.

4

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Disclaimer

ICBC - Industrial and Commercial Bank of China Limited published this content on 30 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 October 2020 16:04:09 UTC


© Publicnow 2020
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Sales 2020 801 B 124 B 124 B
Net income 2020 285 B 44 061 M 44 061 M
Net Debt 2020 - - -
P/E ratio 2020 5,24x
Yield 2020 5,82%
Capitalization 1 725 B 266 B 266 B
Capi. / Sales 2020 2,15x
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Nbr of Employees 445 106
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Mean consensus BUY
Number of Analysts 26
Average target price 5,20 CNY
Last Close Price 4,21 CNY
Spread / Highest target 62,1%
Spread / Average Target 23,5%
Spread / Lowest Target -1,68%
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Managers and Directors
NameTitle
Si Qing Chen Chairman & President
Guo Zhong Yang Chairman-Supervisory Board
Wen Wu Zhang Senior Executive VP, GM-Finance & Accounting
Wei Zhang Member-Supervisory Board
Anthony Francis Neoh Independent Non-Executive Director
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