Ping An Securities Research Report points out that the operation is steady, and the high dividend attributes stand out. As the largest commercial bank in China, ICBC's solid customer base, outstanding cost advantages, stable asset quality, and continuous improvement of comprehensive management capabilities are the foundation for crossing the cycle. With the gradual deepening of its “GBC+” strategy, the increase in internal capital circulation and customer stickiness is expected to provide it with stable business needs. In the current context where risk-free interest rates continue to decline, ICBC's fixed income value is also worth paying attention to. As of March 25, 2024, ICBC's dividend rate for the past 12 months was 5.74%. Compared to risk-free interest rates, the dividend premium rate is at an all-time high, and the dividend allocation value is worth paying attention to. The first coverage gives a “Recommended” rating.