Summary by Futu AI
The Construction Bank of China (CCB) released its unaudited financial report for the first quarter of 2024 on April 29, 2024. The report showed that as of 31 March 2024, CCB and its subsidiaries had an operating income of RMB1952.84 billion, down 2.82% from the same period last year. Net profit was $869.07 million, down 2.51% year-on-year, of which net profit attributable to CCB shareholders was $868.17 million, down 2.17%. Basic and diluted earnings per share remained unchanged at RMB 0.35. Total assets reached $39.73 trillion, an increase of 3.66% year-on-year. CCB said that net cash flow generated by operating activities fell by 43.54%, mainly due to a decrease in net absorbed deposits compared to the same period last year. During the reporting period, CCB did not distribute dividends on ordinary shares or preferred shares. In addition, CCB and the Bank of China completed the transfer of equity in the Brazilian construction company and issued RMB 500 billion Tier II capital bonds.