ICBC posted "The Announcement of ICBC Projected Sales Increases of Mid-2008" on China Securities Journal, Shanghai Securities News, Securities Times, and the websites of stock exchanges in both Shanghai and Hong Kong on July 4.
According to introductions, various services of ICBC in mid-2008 indicates an excellent growing trend, various services including interest net revenues, surcharge fees, and commission net revenues, etc grow fairly fast; meanwhile, the implementation of new income tax rates based on relevant stipulations, makes ICBC net profits grow in a large scale. Based on the initial calculations from Chinese Accounting Standards, the projected net profits (un-audited) of the first half of 2008 will increase 50% comparing to the same period of last year (The ICBC-made net profits of the first half of 2007 that belong to parent company's shareholders were RMB 40,844 Million, and basic (diluted) earnings was RMB 0.12 per share).
