Industrial and Coml Bank of China : Third Quarterly Report of 2016

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

The Board of Directors of Industrial and Commercial Bank of China Limited ("the Bank") announces the results of the Bank and its subsidiaries ("the Group") for the third quarter ended 30 September 2016. This announcement is made in accordance with Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) and Rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

1. IMPORTANT NOTICE

2. The Board of Directors, the Board of Supervisors, Directors, Supervisors and Senior Management members of Industrial and Commercial Bank of China Limited undertake that the information in this report contains no false record, misleading statement or material omission; and assume individual and joint and several liability for the authenticity, accuracy and completeness of the information in this report.

3. The Third Quarterly Report of 2016 has been considered and approved at the meeting of the Board of Directors of the Bank held on 28 October 2016. There were 14 directors eligible for attending the meeting, of whom 12 directors attended the meeting in person and 2 directors by proxy, namely, Mr. Zhang Hongli appointed Mr. Yi Huiman, the Chairman of the board, and Ms. Ge Rongrong appointed Ms. Wang Xiaoya to attend the meeting and exercise the voting right on their behalf.

4. These quarterly financial statements have not been audited.

5. Mr. Yi Huiman, Legal Representative of the Bank, Mr. Gu Shu, President in charge of finance of the Bank, and Mr. Zhang Wenwu, General Manager of the Finance and Accounting Department of the Bank, hereby warrant and guarantee that the financial statements contained in this quarterly report are authentic, accurate and complete.

6. CORPORATE INFORMATION

8. Basic information

   Stock name	Stock code	Stock exchange on which shares are listed
   A share	工商銀行	601398	Shanghai Stock Exchange
   H share	ICBC	1398	The Stock Exchange of Hong Kong Limited
   Offshore preference shares	ICBC USDPREF1	4603	The Stock Exchange of Hong Kong Limited
   	ICBC EURPREF1	4604
   	ICBC CNHPREF1-R	84602
   Domestic preference shares	工行優 1	360011	Shanghai Stock Exchange

   Board Secretary, Company Secretary:
   Name	Guan Xueqing
   Address	No. 55 Fuxingmennei Avenue, Xicheng District, Beijing, People's Republic of China (Postal code:100140)
   Telephone	86-10-66108608
   Facsimile	86-10-66107571
   E-mail	ir@icbc.com.cn

9. Major accounting data and financial indicators

10. Major accounting data and financial indicators prepared based on International Financial Reporting Standards ("IFRSs")

    (In RMB millions, unless otherwise specified)

    30 September 2016	31 December 2015	Change (%)
    Total assets	23,646,472	22,209,780	6.47
    Total loans and advances to customers	12,914,203	11,933,466	8.22
    Allowance for impairment losses on loans	284,365	280,654	1.32
    Investment	5,469,130	5,009,963	9.17
    Total liabilities	21,692,477	20,409,261	6.29
    Due to customers	17,754,418	16,281,939	9.04
    Due to banks and other financial institutions	1,877,479	2,265,860	(17.14)
    Equity attributable to equity holders of the parent company	1,942,287	1,789,474	8.54
    Net asset value per share (RMB yuan)	5.21	4.80	8.54

    (In RMB millions, unless otherwise specified)

    Nine months ended 30 September 2016	Nine months ended 30 September 2015	Changes as compared to the same period of last year (%, percentage points)
    Operating income	484,015	503,833	(3.93)
    Net profit	223,468	222,291	0.53
    Net profit attributable to equity holders of the parent company	222,792	221,761	0.46
    Net cash flows from operating activities	283,803	752,630	(62.29)
    Basic earnings per share (RMB yuan)	0.63	0.62	1.61
    Diluted earnings per share (RMB yuan)	0.63	0.62	1.61
    Return on weighted average equity (%, annualized)	16.53	18.60	A decrease of 2.07 percentage points

11. Differences between the financial statements prepared based on Generally Accepted Accounting Principles of the People's Republic of China ("PRC GAAP") and those based on IFRSs

    In respect of the financial statements of the Group prepared based on PRC GAAP and those based on IFRSs, net profit attributable to equity holders of the parent company for the reporting period ended 30 September 2016 and equity attributable to equity holders of the parent company as at the end of the reporting period have no differences.

12. Number of shareholders and particulars of shareholding

13. As at the end of the reporting period, the Bank had a total of 573,028 ordinary shareholders, including 133,715 holders of H shares and 439,313 holders of A shares.

    PARTICULARS OF SHAREHOLDING OF THE TOP 10 ORDINARY

    SHAREHOLDERS OF THE BANK (The following data are based on the register of shareholders as at 30 September 2016)

    Unit: Share

    Name of shareholder	Nature of shareholder	Type of shares	Shareholding percentage (%)	Total number of shares held	Number of pledged or locked-up shares	Changes of shares during the reporting period
    Central Huijin Investment Ltd.	State-owned	A shares	34.71	123,717,852,951	None	-
    Ministry of Finance of the People's Republic of China	State-owned	A shares	34.60	123,316,451,864	None	-
    HKSCC Nominees Limited/ Hong Kong Securities Clearing Company Limited (3)	Foreign legal person	H shares	24.14	86,051,702,233	Unknown	-7,855,380
    		A shares	0.14	493,761,677	None	185,437,500
    China Securities Finance Corporation Limited	State-owned legal person	A shares	1.32	4,697,561,618	None	323,301,532
    Ping An Life Insurance Company of China, Ltd. - Traditional - Ordinary insurance products	Other entities	A shares	1.21	4,322,828,137	None	-
    Wutongshu Investment Platform Co., Ltd.	State-owned legal person	A shares	0.40	1,420,781,042	None	-
    Central Huijin Asset Management Co., Ltd. (4)	State-owned legal person	A shares	0.28	1,013,921,700	None	-
    Anbang Life Insurance Co., Ltd. - Conservative investment portfolio	Other entities	A shares	0.11	390,487,231	None	-
    China Life Insurance Company Limited - Traditional - Ordinary insurance products - 005L - CT001 Hu	Other entities	A shares	0.09	317,038,927	None	100
    Guotai Junan Securities Co., Ltd.	State-owned legal person	A shares	0.06	209,342,769	None	-40,443,100

    Notes: (1) Particulars of shareholding of H shareholders were based on the number of shares set out in the Bank's register of shareholders maintained at the H share registrar.

14. The Bank had no shares subject to restrictions on sales.

15. HKSCC Nominees Limited held 86,051,702,233 H shares and Hong Kong Securities Clearing Company Limited held 493,761,677 A shares.

16. Central Huijin Asset Management Co., Ltd. is a wholly-owned subsidiary of Central Huijin Investment Ltd. Apart from this, the Bank is not aware of any connected relations or concert party action among the afore-mentioned shareholders.