Financials Industrial and Commercial Bank of China Limited

Equities

Market Closed - Hong Kong S.E. Other stock markets 03:08:20 2025-12-10 EST			5-day change	1st Jan Change
6.080 ^HKD	-0.65%		-5.44%	+16.70%

11:49pm	China's CIC profit jumps 30.4% on investment gains, financial capital under management grows	RE
12-02	Major Chinese banks cut high-yield deposit products to ease margin pressure	RE

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	882,665	860,880	841,441	806,458	786,126	806,963	829,509	858,692
Change	-	-2.47%	-2.26%	-4.16%	-2.52%	2.65%	2.79%	3.52%
EBITDA	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-
EBIT ¹	391,382	624,653	600,557	567,760	543,971	544,605	567,181	597,023
Change	-	59.6%	-3.86%	-5.46%	-4.19%	0.12%	4.15%	5.26%
Interest Paid	-	-	-	-	-	-	-	-
Earnings before Tax (EBT) ¹	392,126	424,899	422,565	421,966	421,827	424,982	433,364	445,992
Change	-	8.36%	-0.55%	-0.14%	-0.03%	0.75%	1.97%	2.91%
Net income ¹	315,906	338,731	360,483	363,993	365,863	361,552	370,352	381,809
Change	-	7.23%	6.42%	0.97%	0.51%	-1.18%	2.43%	3.09%
Announcement Date	3/26/21	3/30/22	3/30/23	3/27/24	3/28/25	-	-	-

¹CNY in Million

Estimates

Fiscal Period: December	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q2	2022 Q4	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4
Net sales ¹	216,972	151,258	212,286	217,489	216,985	216,930	190,322	210,445	194,614	182,938	210,165	191,834	197,108	187,019	204,688	222,404	201,886	184,392
Change	-	-30.29%	40.35%	2.45%	-0.23%	-0.03%	-12.27%	10.57%	-7.52%	-6%	14.88%	-8.72%	2.75%	-5.12%	9.45%	8.66%	-9.23%	-8.67%
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	130,398	170,663	160,752	-	130,651	159,415	112,308	153,019	134,997	109,236	161,580	-	137,221	109,959	155,357	163,165	140,747	109,308
Change	-	30.88%	-5.81%	-	-	22.02%	-29.55%	36.25%	-11.78%	-19.08%	47.92%	-	-	-19.87%	41.29%	5.03%	-13.74%	-22.34%
Charge d'intérêts	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Earnings before Tax (EBT)	-	-	99,650	-	-	-	100,388	97,069	110,590	107,721	102,455	-	111,218	-	99,610	-	-	-
Change	-	-	-	-	-	-	-	-3.31%	13.93%	-2.59%	-4.89%	-	-	-	-	-	-	-
Net income	-	85,730	77,743	-	-	-	94,661	83,580	94,929	95,320	87,653	82,814	98,558	-	84,156	-	-	-
Change	-	-	-9.32%	-	-	-	-	-11.71%	13.58%	0.41%	-8.04%	-5.52%	19.01%	-	-	-	-	-
Announcement Date	3/26/21	4/29/21	8/27/21	10/29/21	3/30/22	8/30/22	3/30/23	8/30/23	10/27/23	3/27/24	4/29/24	8/30/24	10/30/24	3/28/25	4/29/25	8/29/25	10/30/25	-

¹CNY in Million

Estimates

Fiscal Period: December	2021 S1	2022 S1	2025 S2
Net sales ¹	426,406	443,788	192,233
Change	-	4.08%	-56.68%
EBITDA	-	-	-
Change	-	-	-
EBIT	331,415	340,615	-
Change	-	2.78%	-
Charge d'intérêts	-	-	-
Earnings before Tax (EBT)	-	-	-
Change	-	-	-
Net income	163,473	-	-
Change	-	-	-
Announcement Date	8/27/21	8/30/22	-

¹CNY in Million

Estimates

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-
Announcement Date	3/26/21	3/30/22	3/30/23	3/27/24	3/28/25	-	-	-

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024
CAPEX ¹	34,159	38,005	27,584	23,128	31,201	43,297
Change	-	11.26%	-27.42%	-16.15%	34.91%	38.77%
Free Cash Flow (FCF) ¹	-	-	-	-	-	-
Change	-	-	-	-	-	-
Announcement Date	3/27/20	4/23/21	4/27/22	4/26/23	4/26/24	3/28/25

¹CNY in Million

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	-	-	-	-	-	-	-	-	-
EBIT Margin (%)	-	44.34%	72.56%	71.37%	70.4%	69.2%	67.49%	68.38%	69.53%
EBT Margin (%)	-	44.43%	49.36%	50.22%	52.32%	53.66%	52.66%	52.24%	51.94%
Net margin (%)	-	35.79%	39.35%	42.84%	45.13%	46.54%	44.8%	44.65%	44.46%
FCF margin (%)	-	-	-	-	-	-	-	-	-
FCF / Net Income (%)	-	-	-	-	-	-	-	-	-
Profitability
ROA	-	1%	1.02%	0.97%	0.87%	0.98%	0.7%	0.68%	0.65%
ROE	-	11.95%	12.15%	11.43%	10.66%	9.88%	9.24%	8.84%	8.57%
Financial Health
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-	-
Debt / Free cash flow	-	-	-	-	-	-	-	-	-
Capital Intensity
CAPEX / Current Assets (%)	-	-	-	-	-	-	-	-	-
CAPEX / EBITDA (%)	-	-	-	-	-	-	-	-	-
CAPEX / FCF (%)	-	-	-	-	-	-	-	-	-
Items per share
Cash flow per share ¹	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-
Dividend per Share ¹	-	0.2628	0.2933	0.3035	0.3064	0.308	0.3094	0.3146	0.3233
Change	-	-	11.61%	3.48%	0.96%	0.52%	0.46%	1.69%	2.75%
Book Value Per Share ¹	-	7.48	8.15	8.81	9.55	10.23	10.98	11.76	12.53
Change	-	-	8.96%	8.1%	8.4%	7.12%	7.32%	7.13%	6.51%
EPS ¹	-	0.86	0.95	0.97	0.98	0.98	0.9962	1.013	1.046
Change	-	-	10.47%	2.11%	1.03%	0%	1.65%	1.72%	3.27%
Nbr of stocks (in thousands)	-	356,406,257	356,406,257	356,406,257	356,406,257	356,406,257	356,406,257	356,406,257	356,406,257
Announcement Date	-	3/26/21	3/30/22	3/30/23	3/27/24	3/28/25	-	-	-