China Minsheng Banking (600016) investor relations material

Executive summary

• Achieved operating income of RMB 142.87 billion in 2025, up 4.82% year-over-year; net profit attributable to shareholders was RMB 30.56 billion, down 5.37% year-over-year.

• Total assets reached RMB 7.83 trillion, up 0.23% from the previous year; shareholders’ equity increased 7.28% to RMB 689.64 billion.

• Asset quality remained stable with a non-performing loan (NPL) ratio of 1.49%, up 0.02 percentage points year-over-year; provision coverage ratio at 142.04%.

• Continued focus on supporting real economy, green finance, inclusive finance, and digital transformation.

Financial highlights

• Net interest income was RMB 100.13 billion, up 1.46% year-over-year; net interest margin improved to 1.40%.

• Non-interest income rose 13.67% to RMB 42.74 billion; fee and commission income was RMB 18.32 billion, up 0.42%.

• Operating expenses increased 7.92% to RMB 110.02 billion; credit impairment losses rose 18.64% to RMB 53.95 billion.

• Basic and diluted EPS were RMB 0.63; return on average equity was 4.93%.

• Cash flow from operating activities was negative RMB 157.48 billion, improved from previous year.

Outlook and guidance

• Expects macroeconomic growth to rebound, with stable asset quality and further optimization of liability structure in 2026.

• Will focus on high-quality customer management, supporting key sectors, and enhancing risk controls.

• Plans to maintain stable dividend policy and further digital transformation.