On September 28, ICBC rose 3.13% in regular trading, trading at HK$7.755/share, with turnover of HK$269 million. The rally was driven by the upcoming second extraordinary general meeting scheduled for September 29 and broad-based strength across the banking sector.

ICBC will convene its EGM to vote on 14 proposals, including the mid-term profit distribution plan and a proposed A-share placement to raise up to RMB 100 billion from the Ministry of Finance and China National Tobacco subsidiaries to replenish core tier-1 capital. The finance ministry plans to subscribe RMB 70 billion, potentially raising its stake from 31.14% to approximately 32.49%.

On the fundamentals side, ICBC reported H1 revenue of RMB 446.163 billion, up 9.1% year-over-year, with adjusted net profit of RMB 176.475 billion, up 4.5%. The mid-term payout ratio was moderately increased, reinforcing shareholder returns. Since listing, the bank has distributed over RMB 1.64 trillion in cumulative dividends, ranking first among A-share companies.

Sector-wide momentum was evident, with ABC up 2.99%, Bank of China up 2.51%, CCB up 2.25%, and HSBC up 1.33%, reflecting synchronized institutional interest in diversified banks.

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