The Ping An Securities Research Report points out that the Bank of China's financial liabilities have been expanding steadily, and marginal interest spreads have stabilized. The company's net profit to mother increased 5.1% year-on-year in the first half of '26. In terms of size, the company's total assets increased 9.2% year on year at the end of the first half of '26, with loans up 7.3% year on year and deposits up 5.0% year on year. The company plans to distribute an interim cash dividend of 1.190 yuan for every 10 shares, with a dividend ratio of about 31%. An international pioneer, focusing on dividend value. The Bank of China always adheres to its international development line, gives full play to the advantages and characteristics of globalization, makes good use of both domestic and foreign markets, and promotes the sustainable and healthy development of the Bank of China. In recent years, the Bank of China has maintained steady capital expansion, actively investing in credit, and has also shown strong revenue generation and profitability. Using the macroeconomic environment with relatively high overseas interest rates, it supplements the Group's profitability and hedging downward pressure on domestic interest spreads to a certain extent. In the current context where risk-free interest rates continue to decline, the Bank of China's fixed income value is also worth paying attention to as a high-dividend product that can stabilize dividends. Maintaining the “Recommended” rating, considering that risks in key areas are still fluctuating.

The Ping An Securities Research Report points out that the Bank of China's financial liabilities have been expanding steadily, and marginal interest spreads have stabilized. The company's net profit to mother increased 5.1% year-on-year in the first half of '26. In terms of size, the company's total assets increased 9.2% year on year at the end of the first half of '26, with loans up 7.3% year on year and deposits up 5.0% year on year. The company plans to distribute an interim cash dividend of 1.190 yuan for every 10 shares, with a dividend ratio of about 31%. An international pioneer, focusing on dividend value. The Bank of China always adheres to its international development line, gives full play to the advantages and characteristics of globalization, makes good use of both domestic and foreign markets, and promotes the sustainable and healthy development of the Bank of China. In recent years, the Bank of China has maintained steady capital expansion, actively investing in credit, and has also shown strong revenue generation and profitability. Using the macroeconomic environment with relatively high overseas interest rates, it supplements the Group's profitability and hedging downward pressure on domestic interest spreads to a certain extent. In the current context where risk-free interest rates continue to decline, the Bank of China's fixed income value is also worth paying attention to as a high-dividend product that can stabilize dividends. Maintaining the “Recommended” rating, considering that risks in key areas are still fluctuating.