According to a report issued by CICC in the fourth quarter of last year, the company's single-quarter revenue, pre-provision profit, and pre-tax profit increased 6%, down 1%, and 4% year-on-year respectively, and increased by 21%, 39%, and 41% year-on-year respectively; profit before tax adjustment for the fourth quarter was slightly lower than the forecast, mainly due to net interest spreads and operating expenses falling short of expectations. According to the report, the company's net loss for the fourth quarter was US$200 million, a year-on-year decrease of US$4.5 billion, mainly due to special events of US$5.8 billion.

The bank believes that the negative stock price reaction after the disclosure of foreign exchange control results came mainly from four aspects, including net interest income for the fourth quarter of last year falling short of market expectations and this year's guidelines being conservative; operating expenses for the previous quarter fell short of market expectations and this year's guidance costs were high; concerns about Bank of Communications depreciation; and the company did not provide guidance on next year's performance and beyond.

Furthermore, the bank indicated that it lowered its profit forecast for this year by 5.7% to US$25.611 billion due to net interest revenue and cost performance from foreign exchange control falling short of the bank's previous expectations, while introducing next year's profit forecast of US$19.044 billion. The bank believes that although the company's current performance falls short of market expectations, the company's capital situation is good, and the logic of high shareholder returns remains unchanged. It is estimated that the company's return on tangible equity (ROTE) will remain at 12% next year, and dividends and share repurchases are sustainable. The bank maintained its “outperforming the industry” rating and target price of HK$76.5 unchanged.