UB-AGBK@EC2602A(20073.HK)

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UB-AGBK@EC2602A
20073.HK
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ICBC and ABC are reported to receive central government capital injection. Goldman Sachs expects a maximum reduction of 7% in earnings per share, or will try to maintain dividends

The Ministry of Finance plans to inject capital into ICBC and ABC to replenish core Tier 1 capital. Goldman Sachs expects this move could lead to a 4% to 7% dilution in earnings per share, but it will also enhance the banks' capital ratios. Analysts believe that the injection will help the banks maintain growth and dividends, with expectations that the dividend payout ratios for ICBC and ABC will increase by 1.2 to 2.3 percentage points

Stheadline·
SH
601398
+0.28%
SH
601288
-0.45%
HK
01398
+0.78%
Stheadline·
SH
601398
+0.28%
SH
601288
-0.45%
HK
01398
+0.78%

Goldman Sachs' Investment Ratings and Target Prices for Chinese Bank Stocks (Table)

Goldman Sachs released its latest investment ratings and target prices for Chinese bank stocks. The specifics are as follows: ICBC is rated Neutral with a target price of 5.8 yuan; Bank of China is rated Buy with a target price of 4.94 yuan; China Construction Bank is rated Buy with a target price of 8.33 yuan; Agricultural Bank of China is rated Neutral with a target price of 4.95 yuan; Bank of Communications is rated Sell with a target price of 5.8 yuan; Postal Savings Bank of China is rated Buy with a target price of 6.04 yuan; China Merchants Bank is rated Buy with a target price of 52.96 yuan

AASTOCKS·
SH
601398
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US
IDCBY
-0.85%
SH
515020
+0.61%
AASTOCKS·
SH
601398
+0.28%
US
IDCBY
-0.85%
SH
515020
+0.61%

Goldman Sachs: It is rumored that ICBC and ABC will receive capital injection from authorities, which may lead to up to 7% earnings dilution

Goldman Sachs reports that Chinese authorities plan to inject 300 billion yuan into ICBC and ABC, which may lead to a dilution of earnings per share by 4% to 7%. If the injection is realized, the banks will be better able to meet the demand for credit growth and may increase dividends. Goldman Sachs maintains a neutral rating on ICBC and ABC, with target prices of 5.8 yuan and 4.95 yuan, respectively, believing that the scale and impact of the injection still carry uncertainties

AASTOCKS·
HK
01398
+0.78%
SH
512820
+0.67%
SH
601398
+0.28%
AASTOCKS·
HK
01398
+0.78%
SH
512820
+0.67%
SH
601398
+0.28%

Agricultural Bank of China Files Director List with HKEX

Agricultural Bank of China Ltd. has filed an updated list of its board of directors with the Hong Kong Stock Exchange. The board includes Executive Directors GU Shu, WANG Zhiheng, LIU Hong, and LIN Li, along with Independent Non-executive Directors and Non-executive Directors. The filing outlines committee chairmanships and the membership of each director across seven board committees, highlighting the bank's governance structure.

Reuters·
HK
01288
+0.93%
Reuters·
HK
01288
+0.93%

Agricultural Bank of China Appoints Zhang Hongwu as Non-Executive Director

Agricultural Bank of China Ltd. has appointed Mr. Zhang Hongwu as a non-executive director, pending approval from relevant authorities. Further biographical details will be available in the bank’s circular dated November 11, 2025. This announcement was published via the Issuer Information Service of the Hong Kong Stock Exchange.

Reuters·
SH
601288
-0.45%
HK
01288
+0.93%
Reuters·
SH
601288
-0.45%
HK
01288
+0.93%
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