33 stories mentioning HKG:1398Updated 3d ago
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Industrial and Commercial Bank of China (SHA:601398, HKG:1398) decided to distribute a cash dividend of 3.02 yuan per preference share, according to a Shanghai bourse filing on Wednesday.The dividends will be paid out on Sept. 24 to preference shareholders on the record on the Shanghai Branch of China Securities Depository and Clearing by Sept. 23.
ByteDance signed a $29.6 billion loan with 28 banks, including Industrial and Commercial Bank of China (SHA:601398, HKG:1398) and HSBC Holdings (HKG:0005), Bloomberg News reported Monday, citing a person familiar with the matter.About $18.9 billion of the three-year facility, which can be extended to up to five years and upsized from an initial $20 billion target, was committed by Chinese banks, according to the report.Other lenders include Bank of China (HKG:3988) and China Construction Bank (HKG:0939, SHA:601939) and proceeds will reportedly be used for general corporate purposes as ByteDance expands its AI-related investments.ByteDance, HSBC, ICBC, BOC and China Construction Bank did not immediately respond to' requests for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Industrial and Commercial Bank of China (SHA:601398, HKG:1398) has completed the issuance of 20 billion yuan in undated additional tier 1 capital bonds, according to a Thursday filing with the Hong Kong bourse.The bonds have a coupon rate of 1.86% for the first five years and are adjustable every five years. They include a conditional issuer redemption option valid on the interest payment date in the fifth year and every subsequent interest date.Proceeds from the issuance will be used to replenish the bank's additional tier 1 capital.
The Chinese government's proposed capital injection for several state-owned financial institutions signals a clear objective of boosting the financial system's resilience, Fitch Ratings said in a Monday release.The state injections will raise capital buffers, improve loss-absorption capacity and strengthen the entities' ability to shore up policy priorities and economic growth, Fitch said.The banks and insurers covered by the measure include Industrial and Commercial Bank of China (SHA:601398, HKG:1398), Agricultural Bank of China (SHA:601288, HKG:1288), The Export-Import Bank of China, China Export & Credit Insurance, China Life Insurance (Group), China Taiping Insurance Group, People's Insurance Co. (Group) of China and China Reinsurance (Group).The support should help insurers narrow increasing capital burden and boost risk-absorption capacity, especially given their strategic role for the financial system, Fitch said.The injections could boost the insurers' Fitch Prism Global model capital scores by around three to four percentage points, the rating agency said.Meanwhile, the injection could improve Industrial and Commercial Bank of China's and Agricultural Bank of China's pro forma CET1 ratios by 34 basis points and 60 basis points, respectively, Fitch said.Stronger capital is a credit positive for banks' viability ratings, while better system resilience is also credit positive for Fitch's operating environment and assessment.
Major state-owned financial institutions in China announced plans to raise or receive 360 billion yuan in total, a move that analysts said should boost the country's financial system resilience.Xinhua reported Monday that eight central financial companies are included in the plan. In separate Sunday filings, Agricultural Bank of China (HKG:1288, SHA:601288) said it is targeting up to 160 billion yuan, Industrial and Commercial Bank of China (HKG:1398, SHA:601398) will raise no more than 100 billion yuan, and People's Insurance Company or PICC (HKG:1339, SHA:601319) is looking at a maximum of 15 billion yuan."China's planned capital injection into several financial institutions owned by the central government underscores ongoing state support for the financial sector and a clear policy focus on strengthening financial-system resilience," Fitch said in a note."The Ministry of Finance-led support should help improve capital buffers, enhance loss-absorption capacity and reinforce these institutions' ability to fund policy priorities and support broader economic growth."Others that will receive funding under the latest support package also include The Export-Import Bank of China, China Export & Credit Insurance, China Life Insurance (HKG:2628, SHA:601628), China Taiping Insurance Group, and China Reinsurance (Group), the rating agency noted.AgBank, ICBC and PICC said the general mandates will see China's Ministry of Finance enter into separate share subscription agreements with a five-year lock-up period. New shares will be issued and listed in Shanghai.While insurance group PICC said proceeds will be used solely for capital replenishment, the two banking majors earmarked the funds to be raised to bolster their common equity tier 1 capital. The proposed transactions remain subject to certain conditions and approvals.
Hong Kong stocks closed lower Monday as investors remained cautious despite fresh state-backed measures to strengthen China's financial system.The Hang Seng Index fell 237.75 points, or 0.9%, to close at 25,413.12, while the Hang Seng China Enterprises Index lost 125.30 points, or 1.5%, to finish at 8,429.73.Eight major state-owned financial institutions, including Industrial and Commercial Bank of China (HKG:1398, SHA:601398), disclosed plans to raise or receive financial support to strengthen their core Tier 1 capital.The measures signaled stronger government support for China's financial system amid ongoing economic headwinds, helping limit the broader market's decline.Oil prices rose as tensions between the U.S. and Iran intensified, adding to concerns over inflation and the outlook for interest rates.Investors are also awaiting U.S. inflation data later this week for further clues on the Federal Reserve's policy path, with markets pricing a 58% chance of a rate hike at the Fed's Sept. 16 meeting.In company news, Medcaptain Medical Technology (HKG:2041) made its Hong Kong debut, closing 43% lower at HK$8.80, compared with its offer price of HK$15.42.
Chinese shares closed higher on Monday after state‑backed financial reinforcement measures lifted investor sentiment.The Shanghai Composite Index, the main gauge of Chinese stocks, ticked up about 0.1% to close at 3,932.70. The Shenzhen Component Index rose 1.9% to 13,774.92.Appetite for equities improved as a two-pronged capital injection signaled heightened government commitment to shore up China's financial system amid ongoing economic headwinds.China's Ministry of Finance will issue 300 billion yen in special treasury bonds to recapitalize eight centrally administered state‑owned financial enterprises.Separately, eight major state-owned financial institutions, including Industrial and Commercial Bank of China or ICBC (HKG:1398, SHA:601398), disclosed plans to raise or receive a combined 360 billion yuan to bolster their core Tier 1 capital.In company news, TEMB (SHA:603448) closed at 83.48 yuan per share on its first day of trading on Shanghai's Main Board, up about 33% from its IPO price of 62.65 yuan per share.
Chinese shares opened higher on Monday, with investor sentiment buoyed by news that the government is moving to inject fresh capital into major state-owned financial institutions.The Shanghai Composite Index, the main gauge of Chinese stocks, climbed 0.3% to 3,946.86. The Shenzhen Component Index rose 0.7% to 13,605.02.China's Ministry of Finance will issue 300 billion yuan in special treasury bonds to recapitalize eight centrally administered state-owned financial enterprises, state media Xinhua News reported Monday.Additionally, eight centrally administered state-owned financial institutions, including Industrial and Commercial Bank of China or ICBC (HKG:1398, SHA:601398), disclosed plans to raise or receive a combined 360 billion yuan to bolster their core Tier 1 capital.
Industrial and Commercial Bank of China or ICBC (HKG:1398, SHA:601398) has proposed issuing up to 100 billion yuan in new A-shares to China's Ministry of Finance and China National Tobacco (CNTC) subsidiaries.The proceeds will fully replenish the bank's CET1 capital, according to a bourse filing on Sunday.The finance ministry intends to subscribe 70 billion yuan, increasing its stake from 31.14% to approximately 32.49%, while CNTC and its affiliates will collectively subscribe 30 billion yuan, gaining a combined 1.03% stake.Shareholders will vote on the proposal at an extraordinary general meeting scheduled for Sept. 29.
Industrial and Commercial Bank of China (HKG:1398, SHA:601398), China Construction Bank (HKG:0939, SHA:601939), Agricultural Bank of China (SHA:601288, HKG:1288) and Bank of China (SHA:601988, HKG:3988) all posted stronger revenue in the first half versus a year earlier, but all four booked higher credit impairment losses, limiting profit growth to low single digits.Attributable profit at ICBC, China's largest commercial bank, rose 3.3% to 173.7 billion yuan as operating income climbed 9.1% to 446.2 billion yuan.However, credit impairment losses ballooned 22% to 127 billion yuan, accounting for about 28% of the lender's revenue during the period.The same trend happened at CCB, where attributable profit rose only 4.6% to 169.6 billion yuan as credit impairment losses swelled by 21% to 130 billion yuan, offsetting the 10.5% jump in operating income to 426.3 billion yuan.At AgBank, attributable profit inched up 4.9% to 146.4 billion yuan. Operating income climbed 11% to 411.1 billion yuan, while credit impairment losses widened 13% to 110.6 billion yuan.BOC also posted a modest profit growth of 5.1% to 123.6 billion yuan, or 0.36 yuan per share. Operating income edged up 8.4% to 357.1 billion yuan, while credit impairment losses surged to 68.1 billion yuan from 56.5 billion yuan a year earlier.Net interest income, which still accounts for the bulk of the banks' revenues, grew across the board, with AgBank reporting the sharpest increase at 10.5%.However, three of the "Big Four" banks reported lower net interest margin in the first half versus a year earlier. For AgBank, the lender attributed the decline to "a decrease in the yield of interest-earning assets as a result of our support for the development of the real economy and the decline in interest rates."Only BOC reported an increase in net interest margin in the first half versus a year earlier. However, the company flagged a drop in the average interest rate of its interest-earning assets, which it attributed to factors such as the repricing of domestic RMB loans after last year's reduction of the domestic RMB loan prime rate and the decline in market interest rates.In terms of asset quality, all four banks reported lower non-performing loan ratios (NPLs) in the first half versus the end of 2025. Only AgBank reduced its allowance to NPLs in the first half.On shareholder returns, each bank's board proposed an interim dividend for 2026: ICBC at 0.1511 yuan per share, CCB at 2.01 yuan per 10 shares, AgBank at 1.297 yuan per 10 shares, and BOC at 1.19 yuan per 10 shares.
Industrial and Commercial Bank of China (HKG:1398, SHA:601398), or ICBC, reported 173.7 billion yuan in profit attributable to equity holders of the parent for the first half, compared with 168.1 billion yuan a year ago, a Thursday bourse filing showed.EPS moved to 0.47 yuan from 0.46 yuan year over year.For the six months ended June 30, net interest income was 341.2 billion yuan, versus 313.6 billion yuan previously, the lender said.The bank proposed an interim cash dividend of 1.511 yuan per ten shares for the period.
Industrial and Commercial Bank of China (HKG:1398, SHA:601398) will redeem all outstanding $6.16 billion of its undated additional tier 1 capital bonds on Sept. 24, the bank said in a Hong Kong bourse filing on Tuesday.The bonds were issued on Sept. 24, 2021.
Industrial and Commercial Bank of China (SHA:601398, HKG:1398) completed the issuance of bonds worth 60 billion yuan, according to a Friday filing with the Shanghai Stock Exchange.The debt securities have a 10-year term and a coupon rate of 1.81%, with a conditional issuer redemption option at the end of the fifth year.Proceeds will help boost the bank's Tier 2 capital.
Zhejiang Jiuzhou Pharmaceutical (SHA:603456) redeemed cash management product worth 160 million yuan, according to a Shanghai bourse filing on Friday.The product was purchased on Aug. 13, 2025, from Industrial and Commercial Bank of China (SHA:601398, HKG:1398).The pharmaceutical company's shares dropped 4% at the close.
Jiangsu Lopal Tech (SHA:603906, HKG:2465) non-wholly-owned subsidiary, Longpan Times, subscribed to a 100-million-yuan fixed-income open-ended wealth management product with ICBC (SHA:601398, HKG:1398).The non-principal-guaranteed floating-return product has no fixed term, carries a low-risk rating and requires at least 80% investment in debt assets, according to a Tuesday aftermarket filing with the Shanghai bourse.Shares of the automotive specialty chemicals seller rose 3% on the Shanghai and Hong Kong bourses.
Shares of ChangXin Memory Technologies (SHA:688825) surged 466% on their Shanghai Stock Exchange debut Monday, propelling the DRAM chipmaker past Industrial and Commercial Bank of China (SHA:601398, HKG:1398) to become the most valuable company listed in the mainland.The stock opened at 49.50 yuan on the STAR Market, versus an IPO price of 8.66 yuan, lifting CXMT's market capitalization to 3.311 trillion yuan in the first minutes of trade, sharply up from the 579.2 billion yuan implied during the IPO process.At the closing price of 49 yuan, CXMT is now valued at 3.278 trillion yuan, topping ICBC's 2.63 trillion yuan market capitalization, according to FactSet data obtained by.CXMT is the world's fourth-largest DRAM maker next to Samsung Electronics (KRX:005930), SK hynix (KRX:000660) and Micron.Jefferies analysts expect CXMT's market share gain to accelerate as the global supply of memory "is unlikely to ease in the coming years."For the first half of 2026, CXMT expects to book 50 billion yuan to 57 billion yuan in attributable profit, versus a net loss of 2.33 billion yuan a year earlier.Revenue is projected to skyrocket 613% to 677% year over year, ranging between 110 billion yuan and 120 billion yuan.Following CXMT's blockbuster listing, Shanghai shares rose 1.2%, while the tech-heavy Shenzhen bourse jumped 2.7%.Reuters reported earlier, citing analysts at HSBC Qianhai Securities, that the IPO is likely to divert capital away from the broader market both ahead of and during its first trading session.Meanwhile, analysts at Morningstar said in a note on Friday that while AI is increasingly becoming a national security issue for China, CXMT looks set to benefit from the AI boom.
Tongkun (SHA:601233) issued super short-term commercial paper worth 500 million yuan, according to a Shanghai bourse filing on Thursday.The bond has a coupon rate of 1.54% and a term of 269 days, maturing April 9, 2027.Industrial and Commercial Bank of China (SHA:601398, HKG:1398) served as the bookrunner and lead underwriter of the issuance.The polyester filament yarn manufacturer's shares fell 2% during the afternoon trade.
Industrial and Commercial Bank of China's (SHA:601398, HKG:1398) two Irish subsidiaries requested the deregistration of four Boeing B737-8 aircraft leased to SpiceJet (NSE:SPICEJET, BOM:500285), according to documents published on the webpage of India's Directorate General of Civil Aviation.Sky High LXXVIII and Sky High LXXX Leasing filed the request with the Indian aircraft regulator, but the reasons for the request were not disclosed.ICBC, SpiceJet and SkyHigh did not respond immediately to' request for comment.
Industrial and Commercial Bank of China (SHA:601398, HKG:1398) completed the issue of 60 billion yuan of bonds.The 10-year bonds carry a 1.88% interest rate, and the issuer has a conditional redemption right at the end of the fifth year, according to a Monday Hong Kong bourse filing.The lender will use proceeds to boost its tier 2 capital.
Industrial and Commercial Bank of China (SHA:601398, HKG:1398) completed the issuance of 20 billion yuan in perpetual capital bonds on July 10, according to a Friday filing with the Shanghai Stock Exchange.The third tranche of the lender's 2026 Bond Connect series carries an initial coupon rate of 1.89% for the first five years and is subject to adjustment every five years.The bank can conditionally redeem the bonds on each interest payment date starting from the fifth year.ICBC will use the proceeds to supplement its additional Tier 1 capital.
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