On October 9th, Guolonghui pointed out in the Pacific Securities research report that the Bank of Communications (601328.SH) saw a steady growth in net interest income in the first half of the year, with non-interest net income being the main drag on revenue. The company's loan structure has been optimized, with interest rate spreads rebounding; although forward-looking indicators fluctuate, provisions continue to increase, ensuring sufficient risk resilience. It is expected that the company's revenue for 2024-2026 will be 255.065, 260.405, 269.338 billion yuan, net income attributable to the mother will be 91.496, 93.806, 97.289 billion yuan, and the net assets per share will be 15.43, 16.66, 17.94 yuan, corresponding to PB valuations of 0.44, 0.41, 0.38 times the closing price on September 6th. The rating has been upgraded to "buy".