CICC listed the estimated impact of interest rate and RRR cuts by the People's Bank of China (PBOC) on Chinese banks:

Stock│ Impact on Net Interest Margin│ Equivalent Net Profit Impact
ICBC(01398.HK)  +0.040 (+0.738%)    Short selling $169.00M; Ratio 19.226%   │-0.1bps│-0.1%
ABC (01288.HK)  +0.100 (+2.105%)    Short selling $67.31M; Ratio 13.479%   │Flat│0.0%
BANKCOMM (03328.HK)  +0.040 (+0.580%)    Short selling $47.72M; Ratio 25.538%   │-0.2bps│-0.2%
CM BANK (03968.HK)  +0.800 (+1.770%)    Short selling $233.59M; Ratio 17.834%   │-0.3bps│-0.2%
MINSHENG BANK (01988.HK)  +0.050 (+1.351%)    Short selling $12.69M; Ratio 9.501%   │-0.3bps│-0.5%
CEB BANK (06818.HK)  +0.050 (+1.484%)    Short selling $14.81M; Ratio 14.854%   │-0.3bps│-0.3%
CZBANK (02016.HK)  +0.050 (+1.916%)    Short selling $1.09M; Ratio 5.995%   │Flat│-0.1%
Note: Assuming that both bank asset and liability interest rates are reduced by 10 bps (including loans, deposits & interbank assets and interbank liabilities) and are fully repriced. Assuming a 50 bps RRR cut, the entire amount of release reserve will be used to purchase bonds at an interest rate of 2%. Financial data as of the end of 2024 is calculated on an annualized basis.

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CICC also listed its ratings and target prices for the H-shares of some Chinese banks.

Stock│ Rating│ TP (HKD)
CM BANK (03968.HK)  +0.800 (+1.770%)    Short selling $233.59M; Ratio 17.834%   │Outperform│58.98
ABC (01288.HK)  +0.100 (+2.105%)    Short selling $67.31M; Ratio 13.479%   │Outperform│5.09
ICBC(01398.HK)  +0.040 (+0.738%)    Short selling $169.00M; Ratio 19.226%   │Outperform│7.11
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-05-09 16:25.)

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