Financial Performance - The company reported a revenue increase of 15% year-over-year, reaching RMB 1.2 billion for the first half of 2024[6]. - The company provided a positive outlook, projecting a revenue growth of 10-12% for the second half of 2024[6]. - The company reported a net profit margin of 25%, maintaining strong profitability despite market challenges[6]. - For the first half of 2024, the company reported a net profit of RMB 1.70 billion, a decrease of RMB 688.09 million or 28.81% year-on-year[22]. - Total operating income decreased by 21.86% to RMB 7,345.96 million from RMB 9,401.40 million year-on-year[16]. - The company’s commission and fee income decreased by RMB 176.18 million or 25.69% to RMB 509.51 million[22]. - The company experienced a credit impairment loss of RMB 2.92 billion, which was a reduction of RMB 1.02 billion or 25.89% from the previous year[22]. - The total operating income for the six months ended June 30, 2024, was RMB 7,345.96 million, a decrease from RMB 9,401.40 million for the same period in 2023[91]. Asset and Liability Management - Total assets increased by 12% to RMB 50 billion, reflecting robust growth in the company's financial position[6]. - The total assets as of June 30, 2024, increased by 1.15% to RMB 1,329,110.40 million from RMB 1,314,042.45 million at the end of 2023[16]. - Total liabilities reached RMB 1,229,019.95 million, up RMB 115.18 million or 0.95% from the end of 2023, driven mainly by growth in customer deposits[66]. - Customer deposits totaled RMB 967,647.11 million, an increase of RMB 204.61 million or 2.16% from the end of 2023, with individual deposits making up 61.06% of the total[68]. - The total equity of shareholders was RMB 100,090.45 million as of June 30, 2024, reflecting an increase from RMB 96,540.88 million at the end of 2023[70]. Loan and Credit Quality - Customer loans and advances net amount increased by 1.83% to RMB 721,902.37 million from RMB 708,908.58 million[16]. - The non-performing loan ratio remained stable at 1.87% as of June 30, 2024[18]. - The overdue loans increased by RMB 6,332 million compared to the end of 2023, indicating a growing concern in loan repayment[83]. - The total non-performing loans (NPL) reached RMB 13,937.86 million, with a non-performing loan ratio of 1.87%, slightly down from 1.87% at the end of 2023[80]. Digital Transformation and Innovation - The company is investing RMB 50 million in technology research and development to enhance digital banking services[6]. - The company is advancing its digital transformation strategy from 2023 to 2025, focusing on small and medium asset business digitization[133]. - The bank's digital transformation in rural finance has led to the signing of 1,351 customers for the village financial service product[110]. - The company successfully launched five system construction projects, including a credit card marketing decision platform, supporting overall business development[133]. - Mobile banking customers increased by 7.1% to 4.44 million, reflecting a strong digital transformation[128]. Market Position and Growth Strategy - User data showed a growth in active accounts by 20%, totaling 3 million active users as of June 30, 2024[6]. - Market expansion plans include opening 5 new branches in key urban areas by the end of 2024[6]. - The company is considering strategic acquisitions to enhance its market position, with a budget of RMB 300 million allocated for potential deals[6]. - The company plans to enhance its support for local industries and improve its retail product offerings in the second half of 2024[170]. Risk Management - The bank's liquidity risk management policies are effective, with liquidity risk indicators exceeding regulatory requirements[144]. - The bank's credit risk management remains stable, with non-performing loan ratio and non-performing asset ratio meeting regulatory requirements[143]. - The compliance risk management system has been optimized, with a new compilation of regulations published for 2024 to enhance standardization and effectiveness[151]. - A comprehensive reputation risk management system has been established, including 24/7 monitoring and proactive public relations efforts[156]. Shareholder Structure - The total share capital of the company increased to 14,409,789,327 shares after the issuance of 550 million H-shares and 2.409 billion domestic shares on December 29, 2023[178]. - The top ten shareholders collectively hold 51.78% of the shares, with the largest shareholder, Guangzhou Financial Holdings Group Co., Ltd., owning 8.29%[180]. - The shareholding structure is relatively dispersed, with no single entity holding a majority stake[180]. - The company does not have a controlling shareholder or actual controller as of the end of the reporting period[185].

Financial Performance - Net interest income for the six months ended June 30, 2024, was RMB 6,269.97 million, a decrease of 26.76% compared to RMB 8,560.54 million for the same period in 2023[20]. - Total operating income decreased by 21.86% to RMB 7,345.96 million from RMB 9,401.40 million year-on-year[20]. - Pre-tax profit fell by 41.77% to RMB 1,399.80 million, down from RMB 2,404.01 million in the previous year[20]. - Net profit attributable to shareholders decreased by 28.81% to RMB 1,700.64 million from RMB 2,388.73 million year-on-year[20]. - The company's total operating income for the first half of 2024 was RMB 7.35 billion, down RMB 2.06 billion or 21.86% from RMB 9.40 billion in 2023[26]. - The net profit for the first half of 2024 was RMB 7,345.96 million, a decline of 21.8% compared to RMB 9,401.40 million in the same period of 2023[95]. Asset and Liability Management - Total assets increased by 1.15% to RMB 1,329,110.40 million as of June 30, 2024, compared to RMB 1,314,042.45 million at the end of 2023[20]. - Total liabilities increased by 0.95% to RMB 1,229,019.95 million from RMB 1,217,501.57 million[20]. - Customer deposits grew by 2.16% to RMB 967,647.11 million compared to RMB 947,186.02 million at the end of 2023[20]. - The total amount of loans and advances was RMB 744.03 billion, an increase of RMB 127.08 billion or 1.74% from the end of the previous year[58]. - The total financial investments amounted to RMB 421.95 billion, reflecting an increase of RMB 11.05 billion or 2.69% driven by increased bond investments[67]. Capital Adequacy and Risk Management - The core tier 1 capital adequacy ratio decreased to 9.47% in 2024 from 9.83% in 2023, a decline of 0.36 percentage points[26]. - The company’s capital adequacy ratio is calculated based on the new regulatory framework effective from 2024, using risk-weighted assets for credit, market, and operational risks[89]. - The overall credit risk remains controllable, with asset quality stable and non-performing loan ratios meeting regulatory requirements[148]. - The liquidity risk level of the group is reasonable and controllable, with liquidity indicators exceeding regulatory requirements[149]. - The group conducted quarterly liquidity risk stress tests, demonstrating sufficient risk mitigation capacity under stress scenarios[149]. Customer and Market Engagement - The bank's corporate deposit scale ranked fourth in the Guangzhou region as of June 30, 2024[101]. - Supply chain financial service customers exceeded 1,300, marking an 85.71% increase year-on-year[102]. - Retail loan business achieved steady growth by focusing on small and medium consumer scenarios, enhancing financial service levels, and innovating product offerings[104]. - Personal deposit business maintained stable growth, with the bank ranking second in personal deposit scale among peers in Guangzhou by the end of the reporting period[105]. - Wealth management business saw an increase in private diamond clients to 15,700, emphasizing a customer-centric approach and optimizing product systems[107]. Digital Transformation and Technological Innovation - The bank is committed to advancing digital transformation with a focus on technological innovation and efficiency improvement, increasing technology resource investment[136]. - The bank has established a top-down information technology management structure, enhancing technology governance and risk management capabilities[137]. - The bank achieved a "zero accident" goal in network and data security, with no major information security incidents reported in the first half of 2024[140]. - The bank completed upgrades to 96 application systems for emergency switching drills, enhancing its emergency response capabilities[141]. - The bank is actively promoting the implementation of a three-year data governance plan, focusing on data asset management and security[138]. Shareholder Structure and Governance - The total share capital of Guangzhou Rural Commercial Bank is 14,409,789,327 shares, with no changes during the reporting period[178]. - The largest shareholder is Guangzhou Financial Holdings Group, holding 1,194,271,140 shares, representing a significant stake in the company[199]. - The top ten shareholders collectively hold 51.78% of the bank's total shares, with the largest shareholder, Guangzhou Financial Holdings Group, owning 8.29%[188]. - The company has a diverse shareholder base, with significant stakes held by various government and investment entities[199]. - The report indicates that all major shareholders are not pledging their shares, suggesting stability in ownership[199].

Financial Performance - Guangzhou Rural Commercial Bank reported a significant increase in net profit, reaching RMB 1.2 billion, representing a year-on-year growth of 15%[15]. - Net profit attributable to shareholders of the parent company decreased by 24.56% to RMB 2,634.42 million in 2023 from RMB 3,492.16 million in 2022[26]. - Total operating income decreased by 19.47% to RMB 18,154.13 million in 2023 from RMB 22,544.65 million in 2022[26]. - Pre-tax profit fell by 35.42% to RMB 2,912.88 million in 2023, down from RMB 4,510.35 million in 2022[26]. - The net profit for the year 2023 was RMB 18.15 billion, a decrease from RMB 22.54 billion in 2022[87]. - Future guidance indicates a projected net profit growth of 12% for the next fiscal year[15]. Asset and Liability Management - The total asset scale of Guangzhou Rural Commercial Bank exceeded RMB 1.3 trillion in 2023, indicating significant growth[6]. - Total assets and total liabilities of Guangzhou Rural Commercial Bank increased to CNY 1.31 trillion and CNY 1.22 trillion respectively[10]. - The total amount of loans and advances increased by RMB 39.35 billion to RMB 731.32 billion, reflecting a growth rate of 5.69%[60]. - The total liabilities of the group amounted to RMB 1,217.50 billion, an increase of RMB 72.30 billion, reflecting a growth of 6.31% year-over-year[68]. - The capital adequacy ratio improved by 1.1 percentage points, while non-performing loans, non-performing loan ratio, and non-performing asset ratio all decreased[10]. Loan and Credit Management - Small loans under CNY 5 million reached CNY 175 billion, a year-on-year growth of 17.4%, with inclusive microloans exceeding CNY 50 billion, setting a historical high[10]. - The bank provided CNY 29.2 billion and CNY 111.5 billion in re-lending funds to support agriculture and small enterprises, ranking first and third in Guangdong Province respectively[11]. - The non-performing loan ratio improved to 1.87% in 2023 from 2.11% in 2022, a decrease of 0.24%[28]. - The total amount of non-performing loans reached RMB 9.79 billion, with a non-performing loan ratio of 2.28%, compared to 2.70% the previous year[79]. - The total amount of personal loans reached RMB 175.09 billion, an increase of RMB 9.14 billion, representing a growth of 5.50%[61]. Risk Management - The bank has implemented a "Compliance Construction Year" to enhance internal controls and risk management, ensuring robust governance[7]. - The bank's risk management framework has been strengthened, maintaining low levels of new business risks and ensuring asset quality control[7]. - Credit risk management was strengthened with the implementation of annual credit policies and improved risk identification capabilities[118]. - The bank maintained strict control over large exposure risks, enhancing the ability to manage concentration risk[118]. - The bank's overall credit risk remained controllable, with asset quality indicators meeting expected management targets[118]. Strategic Initiatives - The bank plans to launch the "Efficiency Improvement Year" initiative in 2024, aiming to enhance profitability significantly within two years[8]. - The bank aims to optimize its business structure and improve asset quality through strategic reforms and digital transformation[6]. - The bank is committed to supporting key areas such as industrial technology innovation and rural development in alignment with national strategic deployments[12]. - The bank's strategy for 2024 includes becoming a leading commercial bank in China, focusing on market expansion and risk reduction[38]. - The bank plans to deepen branch reform and optimize customer relationship management to provide more efficient comprehensive financial services[13]. Digital Transformation and Innovation - Investment in new technology has increased by 25%, focusing on digital banking solutions to enhance customer experience[15]. - The bank has launched 33 system development projects, including a new mobile banking version and a 5G smart flagship branch information system, to support digital transformation[108]. - The bank's mobile banking app has 4.147 million users, representing a 4.3% increase compared to the end of last year[103]. - The bank's online banking has signed up 30,500 corporate clients, with a transaction amount of CNY 1.0609 trillion[104]. - The bank plans to enhance its online banking platform, expecting a 30% increase in online transactions by the end of the year[190]. Awards and Recognition - The company achieved a ranking of 184 in the 2023 Global Bank Brand Value 500 list, as published by Brand Finance and The Banker magazine[23]. - The company was recognized as one of the top 10 retail banks in 2022 by Retail Banking and Digital Banking, awarded in January 2023[23]. - The company received the 2023 Excellent Cash Management Bank Wealth Management Product Award from Puyi Standard in June 2023[23]. - The company was awarded the 2023 Financial Innovation Excellence Institution by The Banker magazine in October 2023[24]. - The company received the 2023 Best Retail Service Bank award from New Express in December 2023[24]. Governance and Leadership - The bank's management team saw changes with the resignation of Mr. Yi Xuefei as deputy secretary of the party committee and president on February 20, 2023[164]. - The bank's board also appointed two new assistant presidents, Ms. Mao Libing and Mr. Gu Bo, with their appointments approved in January 2023[165]. - The bank is focusing on strengthening its governance structure with a diverse board of directors and independent directors to ensure compliance and strategic oversight[165][166]. - The leadership changes are part of a broader strategy to adapt to market conditions and improve the bank's competitive position[164][165]. - The current management team includes experienced professionals with backgrounds in finance, law, and engineering, enhancing the bank's governance and operational capabilities[179][180][181][182][183][184][185]. Employee and Organizational Structure - The total number of employees in the group is 13,620, with 12,999 under labor contracts and 621 dispatched workers[198]. - The gender distribution of employees shows 7,122 males (52.29%) and 6,498 females (47.71%)[199]. - The educational structure of employees includes 3,284 with postgraduate degrees (24.11%), 9,092 with bachelor's degrees (66.75%), and 1,244 with diplomas or below (9.14%)[200]. - The compensation structure for senior management includes 1 person earning between RMB 0 and RMB 500,000, 4 earning between RMB 1,000,001 and RMB 1,500,000, 4 earning between RMB 1,500,001 and RMB 2,000,000, and 2 earning between RMB 2,000,001 and RMB 2,500,000[197]. - The company has continuously improved the compensation management and performance evaluation system for directors and senior management under national policy guidance[196].

Financial Performance - Guangzhou Rural Commercial Bank reported a significant increase in net profit, reaching CNY 1.2 billion, representing a year-on-year growth of 15%[27]. - Net interest income for 2023 was RMB 16,583.43 million, a decrease of 10.76% compared to RMB 18,582.02 million in 2022[41]. - Total operating income decreased by 19.47% to RMB 18,154.13 million in 2023 from RMB 22,544.65 million in 2022[41]. - Pre-tax profit fell by 35.42% to RMB 2,912.88 million in 2023, down from RMB 4,510.35 million in 2022[41]. - Net profit attributable to shareholders of the parent company decreased by 24.56% to RMB 2,634.42 million in 2023 from RMB 3,492.16 million in 2022[41]. - The net profit for 2023 was RMB 3,259.51 million, reflecting a decline of RMB 778.27 million or 19.27% from the previous year[62]. - Total assets increased by RMB 80,588 million to RMB 1,314,042.45 million in 2023, compared to RMB 1,233,454.45 million in 2022[41]. - The average return on total assets decreased to 0.26% in 2023 from 0.34% in 2022, a decline of 0.08 percentage points[43]. - The cost-to-income ratio increased to 36.08% in 2023 from 31.37% in 2022, an increase of 4.71 percentage points[43]. - Future guidance estimates a revenue growth of 12% for the upcoming year, driven by increased lending and service fees[27]. Asset Quality and Risk Management - The asset quality management has shown solid results, maintaining low levels of new business risks[12]. - The non-performing loan ratio improved to 1.87% in 2023 from 2.11% in 2022, a decrease of 0.24 percentage points[43]. - The bank's overall credit risk remains controllable, with asset quality indicators meeting expected targets[164]. - The bank has implemented a comprehensive responsibility mechanism for credit business, tightening accountability for risk management[164]. - Credit risk management has been strengthened, with a focus on optimizing asset business structure and enhancing risk identification capabilities[164]. - The bank's asset quality remains stable, with risk compensation levels improving through enhanced risk classification and impairment provisions[158]. Business Strategy and Development - The bank's strategic focus remains on serving agriculture, rural areas, and small enterprises[11]. - The bank aims to enhance profitability significantly within two years through a "Year of Efficiency Improvement" initiative[16]. - The bank plans to enhance its focus on rural finance, small and micro enterprises, and green development in its business strategy[52]. - New product offerings include "Rural Revitalization Agricultural Loan" and "Advanced Manufacturing Enterprise Loan" to support key industries[55]. - The bank's retail business strategy includes expanding its customer base among young professionals and healthcare workers[55]. - The bank is committed to talent development, optimizing human resource structure, and enhancing team cohesion[12]. Digital Transformation and Technology - The bank is implementing a "300 billion project" to optimize business processes and enhance digital transformation[11]. - Investment in new technology has increased by 25%, focusing on digital banking solutions to enhance customer experience[30]. - The bank's digital transformation efforts included significant investments in technology resources, with stable operation of key information systems[145]. - In 2023, the bank launched 33 system development projects, including a new mobile banking platform and a 5G smart flagship outlet information system, to support the digital transformation of small and medium asset businesses[147]. - The bank achieved a "zero incident" goal in network and data security, with no major information security events reported during the period[149]. Awards and Recognition - The company received the "Top 10 Retail Banks Award" for 2022 from "Retail Banking" and "Digital Banking" in January 2023[36]. - The company ranked 184th in the "Global Bank Brand Value Top 500" by Brand Finance in February 2023[36]. - The company achieved a ranking of 31st in the "Top 100 Chinese Banking Institutions" by the China Banking Association in July 2023[36]. - The company was recognized as the "Outstanding Private Banking Service" by "New Express" in November 2023[38]. - The company was awarded the "Outstanding Small and Micro Service Award" by "Financial界" in December 2023[38]. Capital Management - Total share capital increased from 11,451,268,539 shares to 14,409,789,327 shares, representing an increase of 2,958,520,788 shares[192]. - The company aims to optimize its capital structure and enhance its risk resilience through these capital activities[194]. - The company completed the issuance of RMB 150 billion in Tier 2 capital bonds on April 3, 2023, with all raised funds used to strengthen Tier 2 capital[195]. - The capital adequacy ratio improved to 13.67% in 2023 from 12.59% in 2022, an increase of 1.08 percentage points[43]. Customer Engagement and Services - User data indicates a rise in active accounts, with a total of 5 million active users, up 20% from last year[27]. - The company launched the "Golden Rice Enterprise Steward" one-stop mobile financial service and upgraded its online banking platform to 3.0, enhancing service quality and efficiency[122]. - The bank's mobile banking customer base reached 4.147 million, representing a year-on-year growth of 4.3%[143]. - The bank's online banking signed customer base reached 30,500, with a transaction amount of 1.0609 trillion yuan[143]. - The credit card business achieved a total of 30,000 large installment transactions in the reporting period, representing a year-on-year increase of 48%, with a total amount of 3.68 billion yuan, up 79% year-on-year[132].

General Information - The registered capital of Guangzhou Rural Commercial Bank is RMB 11,451,268,539.00[5] - The bank operates a total of 14 branches, including locations in Huadu and Nansha districts[7] - The report period covers six months from January 1, 2023, to June 30, 2023[4] - The bank's stock is listed on the Hong Kong Stock Exchange under the code 1551.HK[5] - The bank's main business scope includes monetary financial services[5] - The bank's legal representative is Mr. Cai Jian[5] - The bank's contact information includes a customer service phone number: +8695313[5] - The bank's registered address is No. 9 Yingri Road, Huangpu District, Guangzhou, China[5] - The bank's website is www.grcbank.com[5] Financial Performance - Net interest income for the six months ended June 30, 2023, was RMB 8,560.54 million, a decrease of 5.94% compared to RMB 9,101.21 million for the same period in 2022[11] - Total operating income decreased by 16.14% to RMB 9,401.40 million from RMB 11,210.56 million year-on-year[11] - Net profit attributable to shareholders of the parent company was RMB 2,103.18 million, down 16.76% from RMB 2,526.58 million in the previous year[11] - Total assets increased by 2.46% to RMB 1,263,850.35 million as of June 30, 2023, compared to RMB 1,233,454.45 million at the end of 2022[12] - The non-performing loan ratio rose to 2.25% from 2.11% at the end of 2022, indicating a slight deterioration in asset quality[14] - The average return on total assets decreased to 0.38% from 0.49% year-on-year[13] - The cost-to-income ratio increased to 31.36% from 27.59%, reflecting higher operational costs relative to income[13] - The capital adequacy ratio improved to 13.21% from 12.59%, indicating a stronger capital position[14] Loan and Deposit Information - Customer loans and advances net amount increased by 2.81% to RMB 687,928.22 million from RMB 669,117.87 million at the end of 2022[12] - As of June 30, 2023, total customer deposits reached RMB 923.03 billion, an increase of RMB 12.55 billion or 1.38% compared to the end of 2022[47] - Personal deposits accounted for 59.60% of total deposits, increasing by RMB 33.47 billion or 6.48% year-over-year, while corporate deposits decreased by RMB 12.74 billion or 3.56%[47] - Corporate loans totaled RMB 449.70 billion, accounting for 63.05% of total loans, with an increase of RMB 9.117 billion, or 2.07%[40] - Personal loans reached RMB 170.51 billion, representing 23.91% of total loans, with an increase of RMB 4.548 billion, or 2.74%[40] Income and Expenses - Total interest income decreased to RMB 20,811.54 million, a decline of RMB 946.13 million or 4.35% year-on-year[20] - The average yield on interest-earning assets fell by 42 basis points to 3.62%, while the average cost of interest-bearing liabilities decreased by 13 basis points to 2.19%[19] - The net interest margin decreased by 29 basis points to 1.43%, and the net interest yield dropped by 20 basis points to 1.49%[19] - The company reported a significant decline in trading net income, which fell to RMB 63.98 million, down 93.42% year-on-year[16] - Fee and commission income was RMB 685.69 million, a slight increase of 0.16% year-on-year, while fee and commission expenses rose by 37.09% to RMB 165.11 million[16] - The total operating expenses for the first half of 2023 amounted to RMB 3,062.65 million, down RMB 162.85 million or 5.05% year-on-year[30] Risk Management - The overall credit risk is under control, with the non-performing loan ratio maintained within the set management target[93] - The bank has implemented liquidity risk management measures, ensuring that liquidity risk indicators meet targets and no liquidity risk events occurred in the first half of 2023[95] - The bank has enhanced its credit risk management by launching a "Compliance Construction Year" initiative, improving risk awareness among employees[92] - The bank has optimized its credit management system to improve operational efficiency and risk control quality[92] - The bank has established a comprehensive risk management framework covering all business sectors and types of risks, ensuring clear responsibilities across its organizational structure[90] Corporate Governance - The board of directors consists of 12 members, including 1 executive director and 6 independent non-executive directors[138] - The company has adopted a code of conduct for securities transactions that meets or exceeds the standards set out in the Listing Rules[146] - The company has implemented a performance evaluation system focusing on core development, operational efficiency, compliance risk, and business development, enhancing resource allocation efficiency[149] - The company has established a comprehensive internal control system to ensure compliance with legal and policy frameworks[158] - The company has proposed amendments to its articles of association, reflecting ongoing governance improvements[157] Shareholder Information - The total number of shares held by major shareholders amounts to 3,124,589,712 shares, with significant contributions from Guangzhou Metro Group and Guangzhou Urban Renewal Group[124] - The ownership structure indicates a significant concentration of shares among a few major shareholders, primarily state-owned enterprises[128] - The bank's domestic shares involved judicial freezes of 137,445,296 shares, representing 1.20% of the total share capital, and 808,054,752 shares were pledged, accounting for 7.06%[114] - The top ten shareholders hold a total of 5,419,613,784 shares, which is 47.33% of the total share capital[118] Awards and Recognition - The bank was recognized as one of the top ten retail banks in 2022 and ranked 184th in the 2023 Global Banking Brand Value 500 list[9] - The bank's asset management business received two industry awards, highlighting its excellence in cash management and overall capabilities in the sector[81] - The company has received two external awards for excellence in private banking and wealth service capabilities in 2023, reflecting its commitment to high-quality financial services[74] Digital Transformation and Innovation - The company has launched a one-stop mobile financial service platform, "Jinmi Enterprise Manager," enhancing online banking capabilities and customer service experience[70] - The bank has strengthened its information security capabilities by implementing 12 security protection projects, enhancing its ability to respond to financial technology and cybersecurity incidents[87] - The bank has implemented a digital transformation strategy in its transaction banking business, enhancing service efficiency and customer experience[70] Economic Environment - In the first half of 2023, the domestic GDP grew by 4.5% year-on-year in Q1, accelerating by 1.6 percentage points compared to Q4 2022[110] - The company anticipates a stable recovery in consumption indicators in the second half of 2023, with automotive consumption being a major growth driver[111] - The company expects industrial production to accelerate as major industries complete inventory destocking, leading to increased output and revenue[111]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內 容概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概 不對因本公告全部或任何部份內容而產生或因倚賴該等內容而引致之 任何損失承擔任何責任。 Guangzhou Rural Commercial Bank Co., Ltd.* 廣 州 農 村 商 業 銀 行 股 份 有 限 公 司 * （於中華人民共和國註冊成立的股份有限公司） （H股股份代號：1551） （優先股股份代號：4618） 截 至2023年6月30日 止 六 個 月 中 期 業 績 公 告 廣 州 農 村 商 業 銀 行 股 份 有 限 公 司*（「本 行」）董 事 會（「董 事 會」）宣 佈 本 行 及 附 屬 公 司（「本 集 團」）截 至2023年6月30日 止 六 個 月 之 未 經 審 計 的 合 併 中期業績（「中期業績」）。本業績公告列載本集團截至2023年6月30日止六 個月之中期業績，其內容是根據適用的香港聯合交易所有限公司（「香港 聯交所」）證券上市規則披露要求及按照國際財務報告準則編製。董事會 及董事會審計委員會已審閱此中期業績。 本 業 績 公 告 於 ...

Financial Performance - Total assets of the company reached RMB 1,233.5 billion, a year-on-year increase of 6.18%[5] - Customer deposits grew by 7.15% year-on-year[5] - Total loans and advances increased by 5.22% year-on-year[5] - Net profit attributable to shareholders rose by 9.98% year-on-year[5] - Net interest income decreased by 5.00% to RMB 18,582.02 million in 2022 compared to 2021[19] - Fee and commission income increased by 4.78% to RMB 1,382.08 million in 2022[19] - Total operating income decreased by 3.99% to RMB 22,544.65 million in 2022[19] - Net profit attributable to shareholders increased by 9.98% to RMB 3,492.16 million in 2022[19] - Total assets increased by 6.18% to RMB 1,233,454.45 million in 2022[19] - Interest income increased by 1,252.45 million RMB (2.94%) to 43,818.40 million RMB in 2022 compared to 2021[32] - Interest expense rose by 2,229.59 million RMB (9.69%) to 25,236.38 million RMB in 2022[32] - Net interest income decreased by 977.14 million RMB (5.00%) to 18,582.02 million RMB in 2022[32] - Net profit increased by 261.49 million RMB (6.92%) to 4,037.78 million RMB in 2022[32] - Pre-tax profit grew by 53.06 million RMB (1.19%) to 4,510.35 million RMB in 2022[32] - Credit impairment losses decreased by 1,914.17 million RMB (15.26%) to 10,626.00 million RMB in 2022[32] - Net interest margin (NIM) declined to 1.69% in 2022 from 2.00% in 2021[33] - Customer loans and advances averaged 664,045.00 million RMB with an average yield of 4.93% in 2022[33] - Total interest-bearing liabilities averaged 1,107,332.82 million RMB with an average cost rate of 2.28% in 2022[33] - Total interest-earning assets averaged 1,097,359.84 million RMB with an average yield of 3.99% in 2022[33] - The group's overall interest-earning assets average yield decreased by 37 basis points to 3.99% in 2022, while the average cost rate of interest-bearing liabilities decreased by 7 basis points to 2.28%[34] - Net interest margin decreased by 31 basis points to 1.69% in 2022[34] - Interest income increased by RMB 1.25245 billion in 2022, driven by a RMB 5.20983 billion increase due to scale factors and a RMB 3.95738 billion decrease due to interest rate factors[34] - Interest expense increased by RMB 2.22959 billion in 2022, with a RMB 3.28806 billion increase due to scale factors and a RMB 1.05847 billion decrease due to interest rate factors[34] - The group achieved interest income of RMB 43.818 billion in 2022, an increase of RMB 1.252 billion or 2.94% year-on-year[35] - Customer loan and advance interest income was RMB 32.73973 billion in 2022, an increase of RMB 258 million or 0.79% year-on-year, with an average yield decrease of 37 basis points to 4.93%[36] - Interest income from receivables from other financial institutions decreased by RMB 79 million or 3.52% year-on-year to RMB 2.17314 billion in 2022[37] - Interest expense increased by RMB 2.230 billion or 9.69% year-on-year to RMB 25.236 billion in 2022[39] - Customer deposit interest expense increased by RMB 1.318 billion or 7.42% year-on-year to RMB 19.07819 billion in 2022, with an average cost rate decrease of 2 basis points to 2.22%[40][41] - Interest expense on payables to other financial institutions decreased by RMB 292 million or 14.06% year-on-year to RMB 1.78264 billion in 2022, mainly due to a decline in interbank liability interest rates[42] - Fee and commission net income in 2022 was RMB 13.82 billion, an increase of RMB 0.63 billion, or 4.78% YoY, accounting for 6.13% of total operating income[43] - Trading net income in 2022 was RMB 1.077 billion, primarily from interest income and fair value changes of financial investments measured at fair value through profit or loss[44] - Net income from financial investments in 2022 was RMB 510 million, mainly from fair value changes of financial investments measured at fair value through other comprehensive income and gains from financial investments measured at amortized cost[45] - Other operating net income in 2022 was RMB 993 million, primarily from PBOC interest rate swap incentives and exchange gains/losses[46] - Operating expenses in 2022 were RMB 7.346 billion, an increase of RMB 926 million, or 14.42% YoY, with employee costs being the largest component at RMB 4.855 billion, up 23.16% YoY[47][48] - Asset impairment losses in 2022 were RMB 10.688 billion, with credit impairment losses accounting for RMB 10.626 billion, a decrease of 15.26% YoY[51] - Total assets as of December 31, 2022, were RMB 1,233.454 billion, an increase of RMB 71.826 billion, or 6.18% YoY, driven by growth in loans and advances (up 5.22% YoY) and financial investments (up 11.20% YoY)[53][54] - Total loans and advances increased by RMB 34.309 billion (5.22%) to RMB 6,919.72 billion as of December 31, 2022, with corporate loans growing by RMB 33.558 billion (8.24%) to RMB 4,405.85 billion[55] - Personal loans increased by RMB 7.529 billion (4.75%) to RMB 1,659.59 billion, while bill financing decreased by RMB 6.778 billion (7.35%) to RMB 854.29 billion[55] - Working capital loans, fixed asset loans, and financial lease receivables increased by RMB 23.113 billion (14.53%), RMB 13.435 billion (6.00%), and RMB 2.094 billion (11.17%) respectively, reaching RMB 1,821.95 billion, RMB 2,373.04 billion, and RMB 208.42 billion[56] - Personal mortgage loans and personal business loans increased by RMB 2.27 billion (0.31%) and RMB 5.951 billion (9.12%) respectively, while personal consumption loans and credit card balances grew by RMB 948 million (9.44%) and RMB 403 million (4.13%)[57] - Bank acceptance bill financing decreased by RMB 15.965 billion, while commercial acceptance bill financing increased by RMB 9.187 billion[58] - Mortgage loans, pledged loans, and credit loans increased by RMB 7.155 billion (2.20%), RMB 919 million (2.55%), and RMB 27.120 billion (20.43%) respectively, while guaranteed loans decreased by RMB 885 million (0.54%)[58] - Total investments increased by RMB 35.199 billion (11.20%) to RMB 3,494.37 billion, with financial assets measured at amortized cost growing by RMB 39.113 billion (24.85%) to RMB 1,965.17 billion[59] - Total liabilities increased by RMB 70.462 billion (6.56%) to RMB 11,452.05 billion, with customer deposits growing by RMB 60.718 billion (7.15%) to RMB 9,104.85 billion[62] - Customer deposits increased by 7.15% to RMB 910.485 billion, with personal deposits growing by 13.90% to RMB 516.654 billion and corporate deposits decreasing by 5.71% to RMB 358.236 billion[64] - The proportion of demand deposits decreased by 2.92 percentage points to 32.97%, while the proportion of time deposits (excluding margin and other deposits) increased by 0.92 percentage points to 63.12%[64] - The non-performing loan (NPL) ratio increased by 0.28 percentage points to 2.11%, and the proportion of special mention loans rose by 3.59 percentage points to 7.71%[68] - The total shareholder equity reached RMB 88.249 billion, with paid-in capital at RMB 11.451 billion, capital reserve at RMB 18.951 billion, and undistributed profits at RMB 19.995 billion[65] - The leasing and business services sector accounted for 37.50% of the total non-performing corporate loans, with an NPL ratio of 3.57%, up from 25.13% and 2.64% respectively in the previous year[70] - The wholesale and retail trade sector accounted for 37.34% of the total non-performing corporate loans, with an NPL ratio of 7.60%, slightly up from 7.35% in the previous year[70] - The real estate sector's non-performing loans increased to 13.50% of the total, with an NPL ratio of 2.83%, up from 5.66% and 1.00% respectively in the previous year[70] - The manufacturing sector's non-performing loans accounted for 4.78% of the total, with an NPL ratio of 1.18%, down from 1.54% in the previous year[70] - The construction sector's non-performing loans decreased to 1.55% of the total, with an NPL ratio of 0.50%, down from 2.36% in the previous year[70] - The health and social work sector's non-performing loans accounted for 1.17% of the total, with an NPL ratio of 5.76%, down from 7.02% in the previous year[70] - The non-performing loan ratio increased to 2.11% at the end of 2022, up by 0.28 percentage points compared to the previous year[74] - Corporate loans accounted for 81.38% of total loans, with a non-performing loan ratio of 2.70%[73] - Personal loans accounted for 18.62% of total loans, with a non-performing loan ratio of 1.64%[73] - Overdue loans decreased by RMB 4.813 billion to RMB 26.936 billion, with the overdue loan ratio dropping by 0.94 percentage points to 3.89%[76] - Restructured loans and advances increased by RMB 3.473 billion to RMB 23.004 billion[77] - The capital adequacy ratio decreased to 12.59% at the end of 2022, down by 0.50 percentage points[79] - The leverage ratio stood at 6.09% at the end of 2022[80] - Corporate banking business contributed 50.78% to total operating income, while retail banking contributed 39.62%[81] - Off-balance sheet items included RMB 51.149 billion in acceptance bills, RMB 32.556 billion in issued guarantees, and RMB 150.325 billion in loan commitments[82] - Corporate deposits reached 363.1 billion yuan, an increase of 11.6 billion yuan from the beginning of the year, ranking third in Guangzhou[84] - Corporate loan balance increased by 34 billion yuan to 396.5 billion yuan by the end of 2022[86] - Successfully issued the first green financial bond of 3 billion yuan, expanding funding sources and reducing financing costs for green enterprises[86] - Launched the "Green Enterprise Loan" and "Specialized and Sophisticated Loan" to support green finance and specialized enterprises[86] - Retail deposit scale ranked second in Guangzhou, with annual deposit growth reaching a historical high[89] - Introduced 14 differentiated and scenario-based deposit products targeting rural, education, and small customer segments[89] - Upgraded Huadu Branch to a Green Finance Reform and Innovation Pilot Zone Branch, elevating green finance to a strategic level[85] - Obtained approval for cross-border trade and investment facilitation services in the Nansha New Area, becoming the first local bank in Guangzhou with this qualification[87] - Won multiple awards for bond underwriting, including the Best Credit Bond Underwriter Award for four consecutive years[88] - Enhanced digital transformation in transaction banking, launching electronic letter of credit systems and supply chain factoring services[87] - Retail loan business grew steadily in 2022, with the company launching multiple mortgage loan products and establishing strategic partnerships with leading real estate developers and mortgage intermediaries[90] - The company's consumer loan business improved in quality and efficiency in 2022, with the launch of the "Jinmi Consumption e-Loan" and expansion of customer groups for the "Jinmi Fingertip Loan"[90] - Platform loans saw significant growth in 2022, with the successful launch of three major platform loans and the development of a second batch of bank-type platform loans[90] - Wealth management business focused on customer service management, product system construction, investment advisory services, and system support upgrades in 2022[91] - The company's wealth management business won multiple awards in 2022, including the "Golden Bull Award for Wealth Management Banks" and the "Golden Ding Award for Wealth Management Banks"[92] - The company issued a "Jinmi Rural Revitalization Card" debit card and the first cross-branch social security card in Guangdong Province in 2022[93] - Credit card business saw a 5.6% year-on-year increase in cumulative card issuance, reaching 1.9931 million cards by the end of 2022[94] - Financial market business achieved steady growth in scale and quality in 2022, with optimized asset and liability structures and reduced liability costs[95] - The company's core capabilities in financial market business were enhanced in 2022, with total transaction volume exceeding 11.8 trillion yuan by the end of the year[96] - The company explored new business models in financial markets in 2022, including bond reverse repurchase transactions and bond borrowing and lending[96] - The bank's wealth management product balance reached 69.946 billion yuan by the end of 2022[98] - The bank issued 19.341 billion yuan in small business loans, benefiting 5,192 customers, ranking first among local legal entities in the province[100] - The bank provided 7.643 billion yuan in loan repayment extensions, assisting 2,184 customers[100] - The bank completed interest subsidies for 273 first-time borrowers (individuals and enterprises), involving 908 million yuan in loans, ranking first among local legal entities in the province[100] - The bank's WeChat banking service had 1.2637 million customers by the end of 2022[102] - The bank's "Jinmi Market" e-commerce platform generated nearly 3 million yuan in sales for agricultural products in 2022[103] - The bank has 605 branches (including 1 specialized institution), with 586 in Guangzhou, ranking first in the region[103] - The bank has 2,065 self-service terminals, including 1,044 ATMs, 473 self-service inquiry terminals, and 548 intelligent service terminals[104] - The bank has 255 smart banking outlets with 548 STM devices[104] - The bank achieved stable operation of all major information systems in 2022, with no unplanned system interruptions[105] - The company successfully launched 46 projects in 2022, including a risk management system, a small and micro financial service platform, a corporate intelligent marketing system, and an intelligent voice outbound system, effectively supporting the development and management of various business lines[109] - The company introduced new technologies such as RPA robots and federated learning, reducing manual workload and enhancing business processing efficiency[110] - The company achieved a customer service satisfaction rate of 99.12% in 2022, with 1,263 consumer complaints handled across all channels, all resolved in a timely manner[111] - The company conducted consumer rights protection education activities, covering approximately 15 million people, and received multiple awards from regulatory authorities[111] - The company established a comprehensive risk management governance structure, covering all business lines, branches, and subsidiaries, and continuously optimized its risk management framework[112] - The company strengthened credit risk management by improving the organizational structure, establishing a cross-departmental post-loan management supervision group, and enhancing the credit approval process[114] - The company promoted the use of a "credit investigation APP" for pre-loan processes, optimized review tools for mid-loan processes, and revised post-loan systems to strengthen risk monitoring[115] - The company enhanced risk asset control by revising management measures, optimizing risk management assessment mechanisms, and increasing the weight of asset quality assessment indicators[115] - The company completed the second phase of the risk system project group, with all functions within the project scope successfully launched, and implemented electronic management of credit files[116] - The company established a scientific liquidity risk management mechanism to ensure timely fulfillment of liquidity needs and payment obligations under normal or stressed conditions[117] - The company's liquidity coverage ratio reached 397.90% and the net stable funding ratio was 118.62% at the end of 2022[118] - The company conducted regular liquidity risk stress tests and increased testing during sensitive periods to enhance monitoring and prevention[118] - The company's market risk indicators were all within acceptable limits, and stress tests showed the ability to withstand valuation changes impacting revenue, net profit, and capital adequacy[119] - The company strengthened operational risk management by setting up quantitative monitoring indicators and conducting internal control checks[120] - The company implemented multiple measures to enhance information technology risk management, including issuing new regulations and conducting emergency drills[121] - The company focused on compliance risk management by improving the system construction and conducting case risk investigations[122] - The company continued to strengthen legal risk management and improved the risk prevention and control capabilities[123] - The company completed key projects in anti-money laundering system reconstruction and self-assessment of money laundering risks[124] - The company established a sound reputation risk management mechanism to effectively respond to negative public opinion events[125] - The

Financial Performance - Total assets reached RMB 1,233.5 billion, an increase of 6.18% year-on-year, ranking among the top three rural commercial banks in China[6]. - Customer deposits grew by 7.15%, while total loans and advances increased by 5.22%[6]. - Net profit attributable to shareholders rose by 9.98%[6]. - Revenue for the quarter reached $500 million, a 15% increase compared to the previous quarter, driven by strong performance in the digital banking sector[14]. - The company reported a significant increase in net profit, reaching 1.2 billion RMB, representing a 15% year-over-year growth[180]. - The total operating income for 2022 was RMB 22,544.65 million, reflecting a decline of 3.99% compared to RMB 23,480.53 million in 2021[20]. - The company achieved a pre-tax profit of RMB 4.51 billion, an increase of 1.19% year-on-year, and a net profit of RMB 4.04 billion, up 6.92% year-on-year[33]. - The company reported a net profit margin of 12%, up from 10% in the previous year, reflecting improved operational efficiency[9]. Customer Engagement and Growth Strategies - The bank implemented a "Customer Doubling Plan" focusing on small and micro enterprises and retail customers, enhancing service efficiency[7]. - The company plans to implement a "Customer Doubling Plan" to expand its customer base and improve service quality[9]. - The company reported a significant increase in user data, with a total of 1.5 million new accounts added in Q3 2023, representing a 25% year-over-year growth[13]. - The company is expanding its market presence by opening 10 new branches across key urban areas, aiming to increase its customer base by 30% in the next year[14]. - The company aims to achieve a return on equity of 12% by the end of the fiscal year, up from 10%[182]. - The company is actively seeking to expand its market presence through strategic appointments and governance improvements[166]. Risk Management and Compliance - A comprehensive risk management system was established, featuring a seven-level classification and four-level management mechanism for asset risk[8]. - The company emphasizes risk management and aims to reduce existing asset risks while enhancing capital strength[10]. - The bank has strengthened compliance risk management by enhancing the regulatory framework and conducting risk assessments to prevent legal and regulatory breaches[123]. - The bank has established a comprehensive anti-money laundering risk management system, enhancing internal inspection and training to prevent money laundering risks effectively[125]. - The company has improved its consumer rights protection framework, conducting extensive educational campaigns that reached approximately 15 million people[112]. Technology and Innovation - Investment in technology R&D has increased by 40%, focusing on enhancing cybersecurity measures and improving user experience[15]. - The company has invested in new technologies such as RPA and federated learning to enhance operational efficiency and information security[111]. - The bank has a strong focus on technology and innovation, with leaders like Mr. Li, who has extensive experience in the technology department of various banks[184]. - The company is focusing on optimizing its product system and improving service efficiency as part of its "Customer Doubling Plan"[29]. - The company has successfully completed all objectives of its information technology innovation plan for 2022, receiving multiple awards for its digital transformation initiatives[111]. Asset Quality and Financial Health - The non-performing loan ratio increased to 2.11% in 2022 from 1.83% in 2021, reflecting a change of 0.28%[22]. - The provision coverage ratio decreased to 156.93% in 2022 from 167.04% in 2021, a decline of 10.11%[22]. - The capital adequacy ratio fell to 12.59% in 2022 from 13.09% in 2021, a decrease of 0.50%[22]. - The company has established a seven-level classification and four-level management mechanism for asset risk classification and management[31]. - The actual credit impairment loss for 2022 was RMB 10.626 billion, a decrease of RMB 1.914 billion or 15.26% from 2021[52]. Shareholder Structure and Governance - Total share capital as of December 31, 2022, is 11,451,268,539 shares, with no changes during the reporting period[134]. - The largest shareholder, Guangzhou Municipal Government, has a significant influence over the company's strategic decisions due to its majority stake[144]. - The company has multiple beneficial owners, including individuals with substantial indirect holdings through controlled corporations[146][147]. - The company’s board of directors and senior management underwent changes, with several new appointments and resignations in 2022 and early 2023[162]. - The company is committed to maintaining a strong leadership team to drive future growth and strategic initiatives[167]. Employee and Organizational Structure - As of the end of 2022, the total number of employees in the group is 13,975, with 13,342 under labor contracts and 633 dispatched personnel[197]. - The gender distribution of employees shows 7,333 males (52.47%) and 6,642 females (47.53%)[198]. - Employee education structure indicates that 3,655 employees (26.15%) have an associate degree or below, 9,048 employees (64.75%) hold a bachelor's degree, and 1,272 employees (9.10%) have a graduate degree or above[198]. - The company has implemented a continuous improvement policy for the compensation management and performance evaluation system for directors and senior management[195]. - The management team includes individuals with extensive backgrounds in finance and banking, enhancing the company's expertise[165].

Company Overview - The registered capital of Guangzhou Rural Commercial Bank is RMB 11,451,268,539[6]. - The bank operates under the Hong Kong Stock Exchange with the stock code 1551.HK[6]. - The bank's main business scope includes monetary financial services[6]. - The bank has multiple branches across Guangzhou, with a total of 11 listed in the report[10]. - The bank's legal representative is Mr. Cai Jian[6]. - The bank's financial report period covers six months from January 1, 2022, to June 30, 2022[5]. - The bank's contact number for investor relations is (8620) 28019324[6]. - The bank's registered address is No. 9 Yingri Road, Huangpu District, Guangzhou, China[6]. - The bank's major operating address in Hong Kong is 40th Floor, Dah Sing Financial Centre, 248 Queen's Road East, Wanchai[6]. - The bank's auditor is PricewaterhouseCoopers[6]. Financial Performance - Net interest income for the first half of 2022 was RMB 9,101.21 million, a decrease of 5.78% compared to RMB 9,659.72 million in the same period of 2021[13]. - Total operating income decreased by 4.96% to RMB 11,210.56 million from RMB 11,796.21 million year-on-year[13]. - Pre-tax profit fell by 28.82% to RMB 3,172.40 million, down from RMB 4,457.16 million in the previous year[13]. - Net profit attributable to shareholders decreased by 19.27% to RMB 2,526.58 million compared to RMB 3,129.78 million in the same period last year[13]. - Total assets increased by 6.46% to RMB 1,236,655.46 million from RMB 1,161,628.63 million at the end of 2021[14]. - Customer loans and advances net amount rose by 5.05% to RMB 669,738.62 million from RMB 637,553.81 million[14]. - Non-performing loan ratio increased to 2.03% from 1.83%[16]. - The coverage ratio for provisions decreased to 151.47% from 167.04%[16]. - The capital adequacy ratio decreased to 12.35% from 13.09%[16]. Income and Expenses - Interest income for the same period was RMB 21.75767 billion, an increase of RMB 1.29424 billion or 6.32% compared to the previous year[20]. - The company's total interest-bearing assets averaged RMB 1,078.14228 billion, with total interest-bearing liabilities averaging RMB 1,092.01423 billion[21]. - The net interest margin decreased by 34 basis points to 1.69% compared to the previous year[22]. - The company reported a significant reduction in commission income, with net commission income dropping by 18.74% year-on-year[18]. - Interest expenses for the first half of 2022 totaled RMB 12.656 billion, an increase of RMB 1.853 billion, representing a growth of 17.15%[27]. Customer Deposits and Loans - Customer deposits accounted for RMB 885.997 billion, representing 77.10% of total liabilities, an increase from 79.07% at the end of the previous year[48]. - The total loans and advances reached RMB 690.941 billion, up by RMB 33.278 billion or 5.06% from the end of the previous year, with corporate loans increasing by 4.39% and personal loans by 3.80%[43]. - The proportion of mortgage loans in total loans was 48.15%, while pledged loans accounted for 5.22%[46]. - The group’s personal mortgage loans, personal operating loans, personal consumption loans, and credit card balances were RMB 749.89 billion, RMB 687.67 billion, RMB 102.92 billion, and RMB 104.05 billion, respectively[45]. Risk Management - The bank's credit risk management framework was enhanced in the first half of 2022, with the establishment of a credit management department to streamline risk management processes[94]. - The bank's liquidity risk management measures included monthly monitoring of liquidity indicators and quarterly liquidity risk stress tests, ensuring overall liquidity risk remained controllable[95]. - The bank's overall credit risk was deemed controllable in the first half of 2022, supported by enhanced risk management capabilities[94]. - The bank has established a compliance risk management mechanism to effectively identify, assess, prevent, and address compliance risks, ensuring legal and regulatory compliance in operations[99]. Shareholder Information - The total share capital of the bank as of June 30, 2022, was 11.45 billion shares, with non-overseas listed shares accounting for 9.33 billion shares, representing 81.44% of the total[110]. - The top ten shareholders held a combined 47.33% of the bank's shares, with the largest shareholder, Hong Kong Central Clearing Limited, holding 2.12 billion shares, or 18.56%[113]. - The company does not have a controlling shareholder or actual controller as of the reporting period[116]. - The company has a diverse shareholder base with significant stakes held by various investment and government entities[120]. Employee and Governance - Total number of employees as of the reporting period is 13,993, a decrease of 175 compared to the end of 2021[142]. - The company organized 155 offline training programs covering over 30,000 employee instances, and conducted 152 online live training sessions with an average of 32 hours of online learning per employee[144]. - The company’s governance structure includes various committees such as the Strategic and Investment Committee and the Audit Committee, ensuring comprehensive oversight[151]. - The bank's management is tasked with regular reporting to the board on operational matters and compliance with governance standards[153].

Financial Performance - The total asset scale of Guangzhou Rural Commercial Bank reached CNY 1,161.6 billion, ranking second among rural commercial banks in China[8]. - The bank raised CNY 9.677 billion in capital to support stable operations and enhance growth momentum[8]. - The bank's operating indicators, including deposits and loans, continued to show good growth, indicating a solid financial performance[8]. - In 2021, Guangzhou Rural Commercial Bank's total assets reached CNY 1,161.6 billion, with deposits of CNY 849.8 billion and loans of CNY 657.7 billion[11]. - Net interest income for 2021 was RMB 19,559.16 million, an increase of 10.83% compared to RMB 17,647.48 million in 2020[22]. - Total operating income reached RMB 23,480.53 million, reflecting a growth of 10.66% from RMB 21,218.41 million in the previous year[22]. - The net profit attributable to shareholders of the parent company decreased by 37.51% to RMB 3,175.21 million from RMB 5,081.30 million in 2020[22]. - The total assets increased to RMB 1,161,628.63 million, up by 13.03% from RMB 1,027,871.65 million in 2020[22]. - The average return on equity decreased to 4.43% from 7.10% in the previous year[23]. - The cost-to-income ratio improved to 26.08%, down from 31.95% in 2020[23]. - The capital adequacy ratio increased to 13.09% from 12.56% in 2020[24]. - The bank's customer loans and advances net amount rose to RMB 637,553.81 million, a significant increase of 84,385.47 million from RMB 553,168.34 million in 2020[22]. Strategic Goals and Development - The bank aims to become a leading rural commercial bank by 2023 and a first-class commercial bank in China by 2025[8]. - The bank's strategic plan for 2021-2025 aims to achieve high-quality development and improve its overall business structure[11]. - The bank's vision is to become a leading commercial bank in China, guided by Xi Jinping's thoughts on socialism with Chinese characteristics for a new era[10]. - The bank's commitment to innovation and reform is expected to drive its future growth and market expansion[8]. - The bank plans to strengthen rural finance, industrial finance, consumer finance, and wealth finance, with a commitment to support small and medium enterprises and enhance retail credit, especially consumer loans[9]. Risk Management - The bank actively managed risk assets with a comprehensive approach, focusing on controlling new risks and resolving existing ones[8]. - The bank will continue to optimize its risk monitoring and approval processes to build a robust risk management culture[9]. - The bank's leadership emphasizes the need for a proactive approach to risk management and a customer-centric business philosophy[12]. - The company implemented a comprehensive risk management framework, focusing on credit risk management and optimizing asset structure to support local enterprises and small businesses[115]. - The company conducted liquidity risk management measures, ensuring that all important liquidity risk indicators met targets each month[119]. - The company maintained overall market risk control, with all key market risk indicators meeting targets and stress test results indicating resilience against valuation changes[120]. Awards and Recognition - The bank has received multiple awards, including the "China Financial Innovation Award" and "Annual Regional Influence Bank," reflecting its competitive position in the market[11]. - The bank's wealth management business received multiple awards, including the "Annual Wealth Management Award" and "Gold Quality Financial Brand Award" in 2021, reflecting its strong market recognition[88]. Capital Structure and Shareholder Information - The registered capital of Guangzhou Rural Commercial Bank is RMB 11,451,268,539[13]. - The total share capital increased from 9,808,268,539 shares at the end of 2020 to 11,451,268,539 shares by the end of 2021, representing an increase of 1,643,000,000 shares[132]. - The company issued a total of 1.643 billion shares during the reporting period, raising approximately RMB 9.663 billion for core tier one capital[134]. - The company distributed cash dividends of approximately RMB 1.202 billion (including tax) for the fiscal year 2021, proposing a payout of RMB 1.05 per 10 shares[153]. Governance and Management - The company’s governance structure was strengthened with the appointment of new supervisory board members, enhancing oversight and compliance[157]. - The company’s board of supervisors saw new external supervisors appointed on February 23, 2021, including Mr. Zhan Li Yuan and Mr. Han Zhen Ping[157]. - The company has established a performance assessment system that emphasizes risk management and high-quality development, with various indicators for core development, operational efficiency, compliance risk, and business transformation[180]. - The board of directors consists of 14 members, including 3 executive directors and 5 independent non-executive directors[189]. Customer and Market Engagement - The bank's retail deposit scale reached CNY 360.1 billion by the end of 2021, an increase of CNY 40.8 billion, representing a growth rate of 12.7%, outperforming the industry average by 3.22 percentage points[84]. - The bank's credit card issuance reached 1.8873 million cards by the end of December 2021, a growth of 7% year-on-year, with intermediary income from credit card business amounting to CNY 184 million and operating income of CNY 725 million in 2021[89]. - The bank's mobile banking customers numbered approximately 4.02 million, with a transaction volume of 17.71 million and a total transaction amount of 493.005 billion RMB[101]. Employee Development - The total number of employees in the group as of December 31, 2021, was 14,168, an increase of 227 employees or 2% compared to the previous year[177]. - The company organized over 450 training programs in 2021, covering more than 60,000 employee training sessions, with an average of 66 hours of online learning per employee[178]. - The compensation structure for employees includes fixed salaries, variable pay, and benefits, with total compensation being dynamically adjusted based on various factors including economic performance and risk control[179].