“You must not give up on the experience and advantages you have accumulated over a long period of time because of stage changes in the market.” At the 2026 interim results exchange meeting on August 31, China Merchants Bank Governor Wang Xiaoqing made this statement about the retail business performance in the first half of this year. This is the first time that Wang Xiaoqing has attended a performance conference since taking office in April of this year. The semi-annual report disclosed two days ago shows that in the first half of this year, China Merchants Bank's retail business faced pressure on many indicators of loan, profit, and asset quality. Among them, profit before tax fell by more than 17% year on year. Wang Xiaoqing said that this is not only a common challenge faced by the industry, but also CMB's own structural factors. In the future, we will combine our strengths and characteristics with our resource endowments, seize big wealth management opportunities, and continue to consolidate our retail business advantages.

“You must not give up on the experience and advantages you have accumulated over a long period of time because of stage changes in the market.” At the 2026 interim results exchange meeting on August 31, China Merchants Bank Governor Wang Xiaoqing made this statement about the retail business performance in the first half of this year. This is the first time that Wang Xiaoqing has attended a performance conference since taking office in April of this year. The semi-annual report disclosed two days ago shows that in the first half of this year, China Merchants Bank's retail business faced pressure on many indicators of loan, profit, and asset quality. Among them, profit before tax fell by more than 17% year on year. Wang Xiaoqing said that this is not only a common challenge faced by the industry, but also CMB's own structural factors. In the future, we will combine our strengths and characteristics with our resource endowments, seize big wealth management opportunities, and continue to consolidate our retail business advantages.