Financial Performance - As of the end of 2024, the total assets reached RMB 376.31 billion, with deposits of RMB 300.86 billion and loans of RMB 201.41 billion[13]. - Net profit for 2024 was RMB 1,749.5 million, down 12.6% from RMB 2,000.6 million in 2023[16]. - Interest income for 2024 reached RMB 11,705.0 million, a slight increase of 0.8% from RMB 11,614.9 million in 2023[16]. - Net interest income decreased by 1.1% to RMB 4,189.3 million in 2024 from RMB 4,236.2 million in 2023[16]. - The pre-tax profit for 2024 was RMB 1,818.2 million, down 10.6% from RMB 2,033.9 million in 2023[32]. - Total commission and fee income fell by 18.6% from RMB 860.9 million in 2023 to RMB 700.8 million in 2024, impacted by declines in settlement and clearing fees, agency fees, and card service fees[51]. - Trading income improved significantly from a loss of RMB 78.5 million in 2023 to a gain of RMB 115.2 million in 2024, attributed to proactive asset structure adjustments and increased redemption price differences[52]. - Investment securities income decreased by 8.1% from RMB 887.0 million in 2023 to RMB 815.0 million in 2024, mainly due to reduced fund dividend income[53]. - Operating expenses decreased by 2.2% from RMB 2,348.4 million in 2023 to RMB 2,296.3 million in 2024, reflecting ongoing cost control strategies[56]. - Personnel costs reduced by 2.3% from RMB 1,432.4 million in 2023 to RMB 1,399.9 million in 2024, with significant reductions in wages and bonuses[57]. Asset and Liability Management - Total assets increased by 4.2% to RMB 376,305.5 million in 2024, compared to RMB 361,305.0 million in 2023[18]. - The bank's total liabilities rose by 3.5% to RMB 348,277.2 million in 2024 from RMB 336,492.2 million in 2023[18]. - The bank's total equity increased by 13.0% to RMB 28,028.3 million in 2024 from RMB 24,812.8 million in 2023[18]. - Total available stable funding reached RMB 252,981.1 million in 2024, up from RMB 231,274.6 million in 2023[19]. - Required stable funding increased to RMB 189,545.3 million in 2024 from RMB 182,449.4 million in 2023[19]. - The liquidity coverage ratio significantly increased to 347.26% in 2024 from 242.06% in 2023, indicating enhanced liquidity position[19]. - The net stable funding ratio rose to 133.47% in 2024, compared to 126.76% in 2023, showing improved funding stability[19]. Risk Management - The provision coverage ratio is reported at 205.46%, indicating strong risk management practices[13]. - Non-performing loan ratio improved slightly to 1.77% in 2024 from 1.78% in 2023[19]. - Credit impairment losses increased by 17.0% from RMB 1,432.0 million in 2023 to RMB 1,674.8 million in 2024, driven by enhanced write-off efforts and cautious risk exposure evaluations[64]. - The company's non-performing loan (NPL) ratio increased from 2.16% as of December 31, 2023, to 2.19% as of December 31, 2024, with the NPL balance rising from RMB 2,602.7 million to RMB 2,784.5 million[119]. - The impairment loss provision for loans increased by 8.0% from RMB 6,780.7 million at the beginning of 2024 to RMB 7,326.1 million by December 31, 2024, due to an increase in loan issuance and a cautious evaluation of future risk exposure[128]. Strategic Initiatives - The company aims to strengthen its corporate services and enhance retail banking as part of its strategic vision for 2021-2025[15]. - The company continues to focus on supporting the real economy by increasing loan disbursements in key sectors such as manufacturing and technology innovation[37]. - The company is actively pursuing a strategic plan for 2021-2025, focusing on adapting to external environmental changes and enhancing strategic execution assessments[151]. - The company has established a green finance management framework, with specific departments responsible for implementing environmental and social risk management practices[152]. Shareholder Structure - The total issued share capital was 5,838,650,000 shares, with no changes in share capital during the reporting period[172]. - The total number of shares held by major shareholders amounts to 3,818,239,160, representing 65.40% of the total share capital[176]. - The largest shareholder, Shanxi Provincial State-owned Capital Operation Co., holds 1,212,220,564 shares, which is approximately 20.76% of the total equity[178]. - The company has a significant presence in H-shares, with 102,400,000 shares held by Taiyuan State-owned Investment Group, accounting for 1.75% of H-shares[178]. - The total number of shares held by the top five shareholders exceeds 50% of the total equity, indicating a concentrated ownership structure[179]. Corporate Governance - The board consists of 13 directors, including 3 executive directors, 5 non-executive directors, and 5 independent non-executive directors[193]. - The supervisory board comprises 9 supervisors, including 3 employee supervisors, 3 shareholder supervisors, and 3 external supervisors[195]. - The company has a three-year term for directors and supervisors, with re-election allowed[193]. - The company experienced a change in directors with the appointment of Wu Canming as a non-executive director, effective December 27, 2024[198].

Core Viewpoint - Jinshang Bank's 2024 annual report indicates a steady yet progressive development, with asset scale growth, stable operating income, and improving asset quality and risk resilience [2] Group 1: Operational Performance - As of the end of 2024, Jinshang Bank's total assets reached 376.306 billion yuan, an increase of 15.001 billion yuan, or 4.15% from the previous year [3] - The deposit balance was 300.863 billion yuan, up by 19.781 billion yuan, or 7.04% year-on-year [3] - The loan balance stood at 201.414 billion yuan, reflecting a growth of 9.978 billion yuan, or 5.21% [3] - The bank achieved an operating income of 5.791 billion yuan, maintaining stability [3] - The non-performing loan ratio decreased by 0.01 percentage points to 1.77%, while the provision coverage ratio increased by 6.75 percentage points to 205.46% [3] Group 2: Reform and Innovation - Jinshang Bank accelerated its reform and innovation efforts, enhancing its high-quality development momentum [4] - The bank introduced various initiatives, including "Government Procurement Smart Loan" and "Code Loan," to improve service efficiency and reach underserved customer segments [3][4] - The bank was authorized to independently conduct non-financial enterprise debt financing tool underwriting, becoming one of the first banks in the province to offer "Government Procurement Smart Loan" services [4] Group 3: Service to the Real Economy - Jinshang Bank emphasizes financial services for the real economy, with corporate loan balances reaching 127.308 billion yuan, a year-on-year increase of 5.8% [5] - The bank's technology finance loan balance was 13.466 billion yuan, while green finance loans reached 11.208 billion yuan [5] - The proportion of medium- and long-term loans in total corporate loans increased from 59.3% at the end of 2023 to 62.4% by the end of 2024 [5] Group 4: Digital Transformation - The bank's digital transformation strategy (2022-2024) has led to significant improvements in service efficiency and customer experience [7] - Mobile banking registered users grew by 11.5%, and transaction volumes increased by 9.5% year-on-year [7] - Personal loan balances reached 34.284 billion yuan, a 7.7% increase, with consumer loans growing significantly by 52.1% to 4.469 billion yuan [7] Group 5: Risk Management - Jinshang Bank has enhanced its credit risk management through advanced information technology systems and big data integration [8] - The bank implemented a comprehensive risk management system focusing on early identification and proactive measures [8]

长江商报记者注意到，在市场利率下降，收入端增长乏力的同时，加大拨备计提力度成为晋商银行利润 减少的重要原因。 2024年营收净利双降 赴港上市已超过五年，晋商银行(02558.HK)首次出现净利润下滑。 年报显示，2024年，晋商银行实现营业收入57.91亿元，同比减少0.2%；净利润17.5亿元，同比减少 12.6%。截至2024年末，晋商银行资产总额3763.06亿元、发放贷款及垫款净额1951.04亿元，较上年末 分别增加4.2%、5.1%。 2024年，晋商银行信用减值损失为16.75亿元，同比增长17%，其中发放贷款和垫款减值损失17.83亿 元，同比增长85.9%。 截至2024年末，晋商银行不良贷款余额为35.66亿元，较上年末增加1.53亿元，不良贷款率1.77%，较上 年末下降0.01个百分点。 值得关注的是，晋商银行调整资产结构，适度增加债券和基金的投资规模。截至2024年末，该行金融投 资资产净额达到1067.96亿元，较上年末增加17.6%。其中，债券、基金投资规模合计达到983.59亿元， 较上年末增加187.34亿元。 2024年，晋商银行的交易收益、投资证券所得收益净额合计为9. ...

Core Viewpoint - Jinshan Bank reported its 2024 performance, showing growth in total assets and loans, while facing challenges in credit card balances and interest income [1][3][5]. Financial Performance - As of December 31, 2024, the total assets of Jinshan Bank reached RMB 376.3 billion, an increase of 4.2% from the previous year [1]. - The total liabilities amounted to RMB 348.3 billion, reflecting a 3.5% increase year-on-year [1]. - The bank's non-performing loan (NPL) ratio stood at 1.77%, a slight decrease of 0.01 percentage points compared to December 31, 2023 [2][7]. Loan and Deposit Growth - The bank's loan portfolio reached RMB 127.3 billion, marking a 5.8% increase from the previous year, driven by initiatives to support small and micro enterprises and key economic sectors in Shanxi Province [3]. - Total deposits surpassed RMB 310.3 billion, increasing by 7.7% year-on-year, attributed to enhanced marketing efforts and improved customer service [6]. Interest Income and Rates - Interest income from loans and advances was RMB 7.975 billion, a decrease of 2.1% from the previous year, primarily due to a decline in average yield from 4.26% to 3.92% [5]. - Net interest income was RMB 4.189 billion, down 1.1%, influenced by an increase in interest expenses on deposits [6]. - The net interest margin decreased from 1.36% to 1.20% due to lower yields on loans and financial investments [6][7]. Credit Card and Consumer Trends - The bank's credit card balance was RMB 3.935 billion, a decrease of 14.5%, impacted by lower consumer demand and increased competition from alternative financial products [4].

Core Viewpoint - Jinshang Bank emphasizes high-quality development and structural reform in its 2024 performance announcement, focusing on serving the real economy, risk management, and continuous transformation [2] Financial Performance - As of the end of 2024, Jinshang Bank's total assets reached 376.306 billion yuan, an increase of 15.001 billion yuan, or 4.15% from the previous year [3] - The deposit balance was 300.863 billion yuan, up by 19.781 billion yuan, or 7.04% [3] - The loan balance stood at 201.414 billion yuan, increasing by 9.978 billion yuan, or 5.21% [3] - The net profit for the year was 1.750 billion yuan [3] Service to the Real Economy - Corporate banking income accounted for 60% of total operating income, with a loan balance of 127.308 billion yuan, including 13.466 billion yuan in technology finance loans and 11.208 billion yuan in green finance loans [4] - The operating income from corporate banking was 3.480 billion yuan, representing 60.1% of total operating income [4] Retail Banking Development - Retail banking customer numbers grew from 3.313 million at the end of 2023 to 3.485 million at the end of 2024 [5] - Retail banking operating income was 1.387 billion yuan, making up 23.9% of total operating income [5] - The bank received multiple awards for its retail banking services and wealth management [5] Support for Small and Micro Enterprises - The balance of loans to small and micro enterprises reached 11.554 billion yuan, an increase of 1.722 billion yuan [6] - The number of small and micro enterprise loan customers rose to 5,576, an increase of 1,875 [7] - The non-performing loan ratio for small and micro enterprise loans was 3.29%, down by 0.52 percentage points [7] Asset Quality and Risk Management - The non-performing loan ratio was 1.77%, a decrease of 0.01 percentage points from the previous year [8] - The bank's provision coverage ratio was 205.46%, an increase of 6.75 percentage points [8] - Capital adequacy ratios were maintained above regulatory requirements, with a capital adequacy ratio of 12.84% [8] Digital Transformation - Jinshang Bank made significant progress in digital transformation, with mobile banking users increasing by 11.5% and transaction volume rising by 9.5% [9] - Video banking business volume grew by 61.3%, reaching nearly 2 million retail customers [9] - The efficiency of post-loan management improved by 70% [9]

Financial Performance - For the year ended December 31, 2024, the net profit decreased by 12.6% to RMB 1,749.5 million compared to RMB 2,000.6 million in 2023[8]. - The bank's operating profit fell by 11.4% to RMB 1,792.0 million from RMB 2,021.8 million in the previous year[7]. - The diluted earnings per share decreased to RMB 0.30 from RMB 0.34 in 2023, reflecting an 11.8% decline[8]. - The company's pre-tax profit decreased by 10.6% to RMB 1,818.2 million from RMB 2,033.9 million in 2023[24]. - The company's revenue for the year ended December 31, 2024, was RMB 5,791.1 million, slightly down from RMB 5,802.2 million in 2023[127]. Assets and Liabilities - Total assets increased by 4.2% to RMB 376,305.5 million from RMB 361,305.0 million in the previous year[9]. - The bank's total liabilities rose by 3.5% to RMB 348,277.2 million, with customer deposits increasing by 7.7% to RMB 310,327.9 million[9]. - The total amount of loans and advances issued was RMB 201,414.1 million, up from RMB 191,436.1 million in the previous year[101]. - The total amount of corporate loans as of December 31, 2024, was RMB 127,307.5 million, an increase of 5.8% compared to December 31, 2023[150]. Income and Expenses - The net interest income declined by 1.1% to RMB 4,189.3 million, down from RMB 4,236.2 million in 2023[7]. - The net fee and commission income dropped by 10.8% to RMB 626.7 million compared to RMB 702.9 million in 2023[7]. - Interest expenses rose by 1.9% to RMB 7,515.7 million for the year ended December 31, 2024, due to a 7.6% increase in average interest-bearing liabilities to RMB 326,436.4 million[37]. - Operating expenses decreased by 2.2% from RMB 2,348.4 million for the year ending December 31, 2023, to RMB 2,296.3 million for the year ending December 31, 2024[52]. Risk Management - The company has strengthened its risk management framework, focusing on proactive and forward-looking measures to enhance overall risk management capabilities[20]. - The bank has established a comprehensive credit risk management system to identify, measure, monitor, and control credit risks[135]. - The company maintained a strong focus on risk management, dynamically adjusting provisions based on macroeconomic conditions and default probabilities[123]. Capital Adequacy - The bank's capital adequacy ratio decreased to 12.84% from 13.17% in the previous year[10]. - The Tier 1 capital ratio is 10.97%, down 0.17 percentage points compared to the end of 2023[132]. - The Common Equity Tier 1 capital ratio is 10.18%, a decline of 0.96 percentage points from the end of 2023[132]. - The total amount of Common Equity Tier 1 capital is 26,025.5 million, an increase from 24,802.6 million[131]. Loan Performance - The non-performing loan ratio slightly improved to 1.77% from 1.78% in 2023[10]. - The total amount of non-performing loans reached RMB 2,784.5 million as of December 31, 2024, compared to RMB 2,602.7 million in the previous year, with an overall NPL ratio of 2.19%[113]. - The personal loan NPL ratio decreased from 2.54% as of December 31, 2023, to 2.28% as of December 31, 2024, while the NPL balance fell from RMB 809.6 million to RMB 781.2 million[114]. Corporate Governance - The company has established a comprehensive corporate governance structure in compliance with the Hong Kong Listing Rules[169]. - The board has formed six specialized committees to provide advice on decision-making[169]. - The company is committed to maintaining high standards of corporate governance and will continue to review and enhance its governance practices[169]. Digital Transformation and Innovation - The company launched the "Code Loan" service, allowing users to apply for loans via QR code, enhancing its digital service offerings[19]. - The company is focusing on digital transformation and enhancing its product offerings to improve customer experience and meet market demands[73]. Market and Economic Context - The GDP for 2024 was RMB 13,490.84 billion, representing a 5.0% growth compared to the previous year[12]. - The total retail sales of consumer goods reached RMB 487,895 billion, marking a 3.5% increase year-on-year[12]. - The total import and export value for 2024 was RMB 438,468 billion, reflecting a 5.0% increase year-on-year[14].

资料显示，晋商银行总行设在山西太原，2008年12月30日经中国银监会批准由太原市商业银行更名， 2009年2月28日正式挂牌成立，并于2019年7月18日在香港交易所上市。 人民财讯3月15日电，国家金融监督管理总局山西监管局发布批复显示，监管已同意晋商银行收购清徐 晋商村镇银行，承接其资产、负债、业务和员工，并设立晋商银行清徐梗阳西街支行。 ...

(责任编辑:何潇) 【大河财立方消息】2月12日消息,中国人民银行朔州市分行近日披露多则行政处罚决定信息,其中,晋商 银行朔州分行因存在提供虚假的或隐瞒重要事实的统计资料的违法行为,被处罚款约31.98万元。 ...

Group 1 - The Shuo Zhou branch of Jinshang Bank was fined a total of 60,000 yuan for inadequate execution of the loan "three checks" system and internal control management deficiencies [1][2] - The branch was ordered to rectify its practices by the National Financial Supervision Administration [1] - The former head of the Shan Yin branch, Lü Jiafu, received a lifetime ban from working in the banking industry [2] Group 2 - The former office director of the Shuo Zhou branch, Guo Yong, was given a warning as a penalty for his role in the infractions [3]

Financial Performance - As of June 30, 2024, total assets reached RMB 370.86 billion, with deposits at RMB 290.23 billion and loans at RMB 202.02 billion[26]. - Net interest income increased by 9.4% to RMB 2,218.8 million compared to RMB 2,028.3 million in the previous year[27]. - Pre-tax profit slightly increased by 0.5% to RMB 1,046.6 million compared to RMB 1,041.0 million[27]. - Net profit attributable to equity holders decreased by 0.4% to RMB 1,030.4 million from RMB 1,034.1 million[27]. - For the six months ended June 30, 2024, the company's operating income decreased by 1.7% to RMB 2,786.7 million from RMB 2,834.7 million for the same period in 2023[39]. - The average return on total assets decreased by 0.05 percentage points to 0.56%, while the average return on equity fell by 0.53 percentage points to 8.22%[39]. - The company's trading gains turned negative, with a net loss of RMB 98.9 million compared to a gain of RMB 172.2 million in the prior year[39]. - The total operating income for the first half of 2024 was RMB 2,786.7 million, a slight decrease from RMB 2,834.7 million in the same period of 2023[139]. Asset Quality - Non-performing loan ratio increased to 1.85% from 1.78%[29]. - The total amount of non-performing loans was RMB 3,746.9 million as of June 30, 2024, with a non-performing loan rate of 1.85%[130]. - The company reported a significant increase in the NPL ratio for corporate loans primarily due to difficulties faced by coal mining and coking enterprise clients[128]. - The NPL ratio for personal loans decreased from 2.54% as of December 31, 2023, to 1.93% as of June 30, 2024, with the NPL balance declining from RMB 809.6 million to RMB 638.6 million[128]. - The total amount of loans under special mention increased to RMB 10,134.2 million, accounting for 5.0% of total loans, up by RMB 3,036.5 million[115]. - The group has implemented various measures to recover non-performing loans, including direct collection and legal actions against borrowers[123]. Capital and Liquidity - Capital adequacy ratio stands at 11.59%, while the core tier 1 capital adequacy ratio is 9.78%[26]. - The liquidity coverage ratio decreased to 225.27% from 242.06%[31]. - The bank's provisions for impairment losses on loans and advances increased to RMB 7,414.2 million from RMB 6,780.7 million at the end of 2023[138]. - The capital reserve stood at RMB 6,627.6 million, representing 26.2% of total equity as of June 30, 2024[109]. - The total core tier 1 capital amounted to RMB 25,298.2 million, an increase from RMB 24,802.6 million at the end of 2023[140]. Strategic Development - The bank is advancing its 2021-2025 strategic development plan, focusing on safety, regional service, and supporting local economies[26]. - The bank's strategic vision includes strengthening corporate services, refining retail banking, and optimizing inclusive finance[26]. - The bank is focusing on enhancing financial services for the real economy, particularly in supporting manufacturing upgrades and strategic emerging industries[36]. - The bank aims to maintain a stable financial environment while exploring specialized operational paths to achieve high-quality development[37]. - The bank is actively implementing its 2021-2025 strategic plan while adapting to external environmental changes to enhance its market adaptability[155]. Digital Transformation - The bank is enhancing its digital banking capabilities through online, mobile, and WeChat banking services, creating an integrated financial service model[26]. - The bank has implemented a digital transformation strategy to broaden the depth and breadth of financial services[37]. - The focus of the digital transformation includes enhancing customer service, operational management, data governance, and technological support[173]. - The company has established a digital technology platform, including data middle platform and artificial intelligence capabilities[173]. Customer Service and Market Position - The bank has achieved full coverage of branches across 11 prefecture-level cities in Shanxi Province, operating 152 business outlets[26]. - The bank has been recognized with multiple awards, including "Most Competitive National Brand of Chinese City Commercial Banks" and "Most Beloved Bank in Shanxi Province"[26]. - The number of retail banking customers increased from 3,313.0 thousand as of December 31, 2023, to 3,410.4 thousand as of June 30, 2024[163]. - The bank aims to enhance its private banking brand and develop a differentiated service model for high-net-worth individuals[163]. Shareholder Information - The total issued share capital of the company as of June 30, 2024, is 5,838,650,000 shares, comprising 4,868,000,000 domestic shares and 970,650,000 H shares[174]. - Domestic state-owned shares account for 20.25% of the total share capital, while domestic legal person shares account for 34.52%[175]. - The top three shareholders hold a combined total of 1,982,000,686 shares, representing 34.53% of the total share capital[177]. - The largest shareholder, Shanxi Guoyun, indirectly holds 1,212,220,564 domestic shares, accounting for 20.76% of the bank's equity[183]. Governance and Management - The company appointed Mr. Wang Qi as an executive director and vice president, effective from July 25, 2024, after obtaining regulatory approval[198]. - The company’s chairman, Ms. Hao Qiang, has over 29 years of banking experience and has been with the company since September 2008[200]. - The company’s board of directors is actively working on filling the vacancy of independent non-executive director following the resignation of Mr. Sai Zhiyi[197]. - The company is focused on maintaining compliance with the Hong Kong Listing Rules regarding board composition and qualifications[199].