For the year ended 31 December 2025
(Expressed in millions of Renminbi, unless otherwise stated)
(Expressed in millions of Renminbi, unless otherwise stated)
| For the year ended 31 December | |||
|---|---|---|---|
| Note | 2025 | 2024 (Restated) | |
| Interest income | 305,312 | 329,864 | |
| Interest expenses | (158,379) | (181,491) | |
| Net interest income | 5 (a) | 146,933 | 148,373 |
| Fee and commission income | 87,130 | 72,979 | |
| Fee and commission expenses | (17,527) | (13,947) | |
| Net fee and commission income | 5 (b) | 69,603 | 59,032 |
| Sales of goods and services | 5 (c) | 478,412 | 473,456 |
| Other revenue | 5 (d) | 74,316 | 66,339 |
| 552,728 | 539,795 | ||
| Total revenue | 769,264 | 747,200 | |
| Cost of sales and services | 6 | (430,028) | (424,950) |
| Other net income | 7 | 8,777 | 12,618 |
| Expected credit losses | 8 | (63,258) | (59,383) |
| Impairment losses | 9 | (4,169) | (1,895) |
| Other operating expenses | 11 | (137,406) | (136,292) |
| Net valuation loss on investment properties | (127) | (165) | |
| Share of profits of associates, net of tax | 6,861 | 4,138 | |
| Share of profits of joint ventures, net of tax | 3,659 | 2,492 | |
| Profit before net finance charges and taxation | 153,573 | 143,763 | |
| Finance income | 1,989 | 2,235 | |
| Finance costs | (10,954) | (13,341) | |
| Net finance charges | 10 | (8,965) | (11,106) |
| Profit before taxation | 11 | 144,608 | 132,657 |
| Income tax | 12 | (28,795) | (24,902) |
| Profit for the year | 115,813 | 107,755 | |
| Attributable to: | |||
| – Ordinary shareholders of the Company | 58,730 | 58,202 | |
| – Non-controlling interests | 57,083 | 49,553 | |
| Profit for the year | 115,813 | 107,755 | |
| Earnings per share for profit attributable to ordinary shareholders of the Company during the year: | |||
| Basic earnings per share (RMB) | 16 | 2.02 | 2.00 |
| Diluted earnings per share (RMB) | 16 | 2.01 | 1.97 |
The notes form part of these consolidated financial statements.