Annual report blunder! China Everbright Bank's latest response

On the evening of April 1, Everbright Bank’s H-shares announced on the Hong Kong Stock Exchange that it needs to revise the previously published preliminary results data (i.e., the annual earnings announcement).

Previously, an “error” in Everbright Bank’s annual report version drew market attention: in the annual reports initially released by the Hong Kong Stock Exchange and the Shanghai Stock Exchange, multiple branches of the bank saw obvious formatting mix-ups and mislabeling of data such as “asset size.” Subsequently, the Shanghai Stock Exchange version was quickly corrected, but there were still significant discrepancies compared with the Hong Kong Stock Exchange version, causing the same bank’s disclosed branch asset sizes in the two places to differ greatly.

According to the latest announcement released by Everbright Bank on the Hong Kong Stock Exchange, the data for the eight branches involved in the erroneous figures have all been corrected.

The data shows that, as of the end of 2025, the asset sizes of Everbright Bank’s Shanghai Branch, Shijiazhuang Branch, Tianjin Branch, Qingdao Branch, Yantai Branch, Ningbo Branch, Shenzhen Branch, and Chengdu Branch were 4431.88 billion yuan, 1202.69 billion yuan, 1013.25 billion yuan, 980.1 billion yuan, 726 billion yuan, 818.94 billion yuan, 2866.99 billion yuan, and 961.35 billion yuan, respectively.

Previously, in Everbright Bank’s H-share annual report, the asset sizes of the aforementioned branches were labeled as 395.4 billion yuan, 2866.99 billion yuan, 598.36 billion yuan, 4431.88 billion yuan, 274.74 billion yuan, 3384.88 billion yuan, 518.78 billion yuan, and 1458.84 billion yuan.

Everbright Bank said that the corrections have not had any impact on other information published in the annual earnings announcement.

The left side is a screenshot of the revised annual report published by Everbright Bank on the Hong Kong Stock Exchange; the right side is a screenshot of the bank’s annual report published on the Shanghai Stock Exchange, with the relevant data marked.

The day before this annual report data issue began to ferment, Everbright Bank had just held its 2025 annual earnings conference.

The data shows that in 2025, Everbright Bank achieved operating income of 1263.1 billion yuan, a year-on-year decrease of 6.72%; it achieved net profit of 391.4 billion yuan, a year-on-year decrease of 6.61%. By the end of December 2025, Everbright Bank’s total assets exceeded 7 trillion yuan, up 2.96% from the end of the previous year to 71653.19 billion yuan.

In terms of asset quality, as of the end of December 2025, Everbright Bank’s balance of non-performing loans was 507.42 billion yuan, an increase of 14.9 billion yuan from the end of the previous year; the non-performing loan ratio was 1.27%, up 0.02 percentage points from the end of the previous year. The loan loss provision coverage ratio was 174.14%, down 6.45 percentage points from the end of the previous year.

Regarding the decline in revenue, Everbright Bank’s management said there are three main reasons: first, the net interest margin has moved down, constraining growth in interest income; second, affected by a significant decline in bond market interest rates, other income has declined on a temporary basis; third, it has increased efforts to resolve risks in related businesses and to advance business transformation, and credit card interest and fee income has faced temporary pressure.

Management said that 2026 will be a year to consolidate the foundation. The bank will adhere to development in distinct areas, build its distinctive strengths and advantages, increase income, control costs, strengthen risk control, further enhance related resource support, and promote a steady rebound in its profitability level.

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