On November 5th, Guolian Securities' research report pointed out that China Construction Bank Corporation (601939.SH) achieved a net income attributable to shareholders of 255.776 billion yuan in the first three quarters, a year-on-year increase of +0.13%. The growth rate of net income turned positive, contributing to the expansion of scale. The significant increase in other non-interest income growth is mainly due to the lower fair value change gains and losses base in the same period last year. As of the end of Q3 2024, the company's loan balance was 25.7 trillion yuan, an increase of +8.87% year-on-year, with a growth rate of -1.15% compared to H1 2024. The company's asset-side income level continues to decline, mainly due to the narrowing of the interest margin decrease, as the company's liability cost continues to improve against the background of deposit benchmark interest rate reductions. In the future, the country plans to increase the core Tier 1 capital of six large commercial banks, and the company's capital strength is expected to further improve. Considering the company's stable operations and high dividend yield, the "shareholding" rating is maintained.