A 股简称：招商银行 A 股代码：600036 公告编号：2023-013 英文：https://webcasting.bizconfstreaming.com/live/watch/mxd6e9ao 招商银行股份有限公司 关于召开2022年度业绩说明会的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者 重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 投资者可将相关问题通过电子邮件方式发送至招商银行股份有限公司（简称本公 司）2022年度业绩说明会（简称业绩说明会）问题收集邮箱：cmbir@cmbchina.com。 邮件收取截止时间为北京时间2023年3月27日（星期一）上午11:00。本公司将于 业绩说明会上对投资者普遍关注的问题进行回答。 二、业绩说明会召开的时间、方式 本公司董事长缪建民先生，执行董事、行长兼首席执行官和董事会秘书王良先生， 以及部分高级管理人员和独立非执行董事等将参加业绩说明会。 为了便于广大投资者更全面深入地了解本公司2022年度业绩和经营情况，本公司 拟通过网络直播方式召开业绩说明会，就投资者普遍关注的问题与投资者进行交流。 ...

Financial Performance - Net profit attributable to shareholders for the first nine months of 2022 was RMB 106,922 million, reflecting a year-on-year growth of 14.21%[3] - Basic earnings per share attributable to ordinary shareholders for the first nine months of 2022 was RMB 15.75, up 14.64% compared to the same period last year[3] - The net profit attributable to shareholders after deducting non-recurring gains and losses for the first nine months of 2022 was RMB 106,597 million, an increase of 14.26% year-on-year[3] - In the first nine months of 2022, the group achieved operating income of RMB 264.83 billion, a year-on-year increase of 5.34%[16] - The bank's total operating income for the third quarter of 2022 was RMB 264,833 million, up from RMB 251,410 million in the same quarter of 2021, indicating a growth of 5.3%[52] Assets and Liabilities - Total assets as of September 30, 2022, reached RMB 9,707,111 million, an increase of 4.95% compared to the end of 2021[3] - The total liabilities as of September 30, 2022, were RMB 8,209,985 million, an increase from RMB 7,889,446 million as of December 31, 2021, representing a growth of 4%[50] - The total loans and advances amounted to RMB 5,994.37 billion, an increase of 7.62% year-on-year[16] - Customer deposits totaled RMB 7,090.07 billion, reflecting an 11.71% increase from the previous year[16] - The total assets under management (AUM) for retail customers increased to 11,959.583 billion RMB, up by 11.16% from the end of last year[44] Shareholder Information - The total number of ordinary shareholders as of the end of the reporting period was 637,594, with 608,183 being A-share shareholders[7] - The top shareholder, Hong Kong Central Clearing (Agent) Limited, holds 4,553,007,721 shares, representing 18.05% of total equity, an increase of 601,406 shares from the previous year[8] - The total number of preferred shareholders is 20, with 19 being domestic and 1 being foreign, indicating a diverse shareholder base[10] - The company has maintained a stable shareholder structure with no reported changes in voting rights or significant share pledges among the top shareholders[9] Risk Management and Loan Quality - The non-performing loan balance was RMB 57.09 billion, with a non-performing loan ratio of 0.95%, up 0.04 percentage points from the end of the previous year[16] - The company maintained a focus on risk management in the real estate sector, with total credit risk-bearing business balance related to real estate at CNY 473.727 billion, down 7.38% from the previous year[26] - The non-performing loan ratio for corporate real estate loans was 3.32%, an increase of 1.93 percentage points from the previous year, but overall real estate loan risks were deemed manageable[26] - The company's focus remains on enhancing risk management measures and maintaining the stability of retail loan asset quality amidst external risks[32] Cash Flow and Financing Activities - The net cash flow from operating activities for the first nine months of 2022 was RMB 146,494 million, a significant increase of 77.82% year-on-year, primarily due to an increase in customer deposits[4] - The net cash flow from financing activities for the first nine months of 2022 was a negative RMB 269,872 million, compared to a positive RMB 26,732 million in the same period of 2021[59] - The liquidity coverage ratio for Q3 2022 averaged 150.46%, a decrease of 17.19 percentage points from the previous quarter, primarily due to increased unsecured financing outflows[64] Capital Adequacy - The company's core tier 1 capital adequacy ratio was 12.30% as of September 30, 2022, an increase of 0.15 percentage points from the end of the previous year[41] - The total capital adequacy ratio was 16.83% as of September 30, 2022, a decrease of 0.40 percentage points from the end of the previous year[41] - The company maintained a risk-adjusted return on capital (RAROC) of 28.34% (pre-tax) as of September 30, 2022, indicating a high level of profitability[40] Customer Growth - The number of retail customers reached 182 million, an increase of 5.20% from the end of last year[44] - The number of high-net-worth clients (with total assets over 500,000 RMB) grew to 4.0945 million, an increase of 11.51%[44] - The total assets under management for high-net-worth clients reached 9,760.388 billion RMB, reflecting a growth of 10.46%[44]

Financial Performance - Net profit attributable to shareholders for Q3 2022 was RMB 37,502 million, representing a year-on-year growth of 15.52%[5] - Operating income for Q3 2022 was RMB 85,765 million, reflecting a 3.76% increase compared to the same period last year[5] - For the first nine months of 2022, the group achieved operating net income of RMB 264.84 billion, a year-on-year increase of 5.31%[18] - The net profit attributable to shareholders for the same period was RMB 106.92 billion, up 14.21% year-on-year[18] - The pre-tax profit for the first nine months of 2022 was RMB 129,384 million, an increase from RMB 116,656 million in the same period of 2021, representing a growth of 10.81%[51] - The company reported net interest income of RMB 162.13 billion for the first nine months of 2022, up 7.91% from RMB 150.64 billion in the same period of 2021[47] Assets and Liabilities - Total assets as of September 30, 2022, reached RMB 9,707,111 million, an increase of 4.95% compared to the end of 2021[5] - The total equity attributable to shareholders was RMB 919,582 million, up 7.08% from the end of 2021[5] - As of September 30, 2022, total liabilities increased to RMB 8,779,344 million from RMB 8,383,340 million at the end of 2021, representing a growth of 4.73%[50] - Customer deposits rose significantly to RMB 7,141,484 million, up from RMB 6,385,154 million, marking an increase of 11.85%[50] - The total loans and advances amounted to RMB 5,994.37 billion, an increase of 7.62% year-on-year[18] Cash Flow - The net cash flow from operating activities for the first nine months of 2022 was RMB 146,494 million, a significant increase of 77.82% year-on-year, primarily due to an increase in customer deposits[6] - The cash flow from investing activities showed a net outflow of RMB 273,196 million for the first nine months of 2022, compared to RMB 68,373 million in the same period of 2021, indicating a significant increase in investment expenditures[52] Shareholder Information - The number of ordinary shareholders as of the report date was 637,594, with 608,183 being A-share shareholders and 29,411 being H-share shareholders[8] - The top shareholder, Hong Kong Central Clearing (Agent), holds 4,553,007,721 shares, representing 18.05% of total equity, an increase of 601,406 shares from the previous year[9] - There are no known relationships or concerted actions among the top shareholders[10] - The company has maintained a stable shareholder structure with no significant changes in the top shareholders' holdings[10] Risk Management - The company will continue to strengthen risk management measures and adjust the structure of real estate clients and projects in response to the evolving risk landscape[29] - The company aims to maintain a focus on high-quality clients and projects while managing risks associated with high-leverage real estate clients[29] - The company aims to maintain stable retail loan asset quality while enhancing risk management measures and adjusting asset structures[35] Capital Ratios - The company's core tier 1 capital ratio under the advanced approach is 12.85%, an increase of 0.19 percentage points from 12.66% at the end of 2021[41] - The total capital ratio is 17.17%, down 0.31 percentage points from 17.48% at the end of 2021[41] Non-Performing Loans - The non-performing loan balance was RMB 57.09 billion, with a non-performing loan ratio of 0.95%, up 0.04 percentage points from the end of the previous year[18] - The balance of retail loans was RMB 3,112.476 billion, accounting for 55.00% of total loans, with a non-performing loan balance of RMB 25.747 billion and an NPL ratio of 0.83%[31] - The company generated new non-performing loans of RMB 46.17 billion in the first nine months of 2022, a year-on-year increase of RMB 10.97 billion, with an annualized NPL generation rate of 1.13%[36] Customer Base - As of the end of the reporting period, the company had 182 million retail customers, an increase of 5.20% compared to the end of the previous year[46] - The total assets under management (AUM) for retail customers reached RMB 11,959.58 billion, an increase of RMB 1,200.41 billion, or 11.16% from the end of the previous year[46] - The number of high-net-worth clients (assets over RMB 500,000) increased to 4.0945 million, up 11.51% year-over-year, with total AUM for these clients at RMB 9,760.39 billion, a growth of 10.46%[46]

Financial Performance - The company reported a mid-year financial performance with no profit distribution or capital reserve conversion to share capital for 2022[4]. - The company achieved operating net income of RMB 179.08 billion, a year-on-year increase of 6.07%[14]. - Net profit attributable to shareholders reached RMB 69.42 billion, reflecting a growth of 13.52% compared to the previous year[14]. - Total assets amounted to RMB 9,724.996 billion, an increase of 5.15% from the end of the previous year[8]. - Total loans and advances increased to RMB 5,931.807 billion, up by 6.49% year-on-year[8]. - Customer deposits rose to RMB 7,037.185 billion, marking a significant increase of 10.87% from the previous year[8]. Risk Management - The report emphasizes the importance of risk management, detailing major risks and corresponding mitigation measures[3]. - The company is focusing on risk control in key areas such as real estate and local government financing platforms[76]. - The company will enhance risk monitoring and management in key areas, including real estate and large corporate clients, to maintain overall asset quality stability[139]. Governance and Compliance - The board meeting held on August 19, 2022, included 13 directors and 8 supervisors, confirming compliance with relevant regulations[4]. - The company operates under the regulatory oversight of the China Banking and Insurance Regulatory Commission and the China Securities Regulatory Commission[2]. - The company has a comprehensive governance structure, including legal and accounting advisors from both domestic and international firms[6]. Financial Ratios and Metrics - The annualized return on average total assets (ROAA) was 1.46%, up by 0.04 percentage points year-on-year[11]. - The annualized return on average equity (ROAE) for ordinary shareholders was 18.07%, an increase of 0.01 percentage points compared to the previous year[11]. - The non-performing loan ratio increased to 0.95%, up by 0.04 percentage points from the previous year[11]. - The provision coverage ratio decreased to 454.06%, down by 29.81 percentage points year-on-year[11]. - The company maintained a capital adequacy ratio of 16.80%, a decrease of 0.68 percentage points from the end of the previous year[11]. Income and Expenses - Operating expenses increased to RMB 53.98 billion, a rise of 6.65% year-on-year, with employee expenses accounting for RMB 34.26 billion, up 9.35%[39]. - Interest income reached RMB 172.861 billion, up 8.55% year-on-year, primarily due to the expansion of interest-earning assets[18]. - Interest expenses totaled RMB 65.169 billion, an increase of 8.79% year-on-year, driven by the growth of interest-bearing liabilities and rising costs[23]. - Net interest income for the period was RMB 107.692 billion, reflecting an 8.41% year-on-year growth[29]. Non-Interest Income - Non-interest net income reached RMB 71.39 billion, representing a year-on-year growth of 2.73%[36]. - Fee and commission income totaled RMB 53.41 billion, with wealth management fees decreasing by 8.13% year-on-year[36]. - Asset management fees increased by 32.84% year-on-year, amounting to RMB 6.34 billion[36]. Loans and Advances - The total amount of loans and advances reached RMB 5,931.81 billion, with a total NPL of RMB 56.39 billion, resulting in an overall NPL ratio of 0.95%[77]. - The small and micro enterprise loan balance was RMB 609.81 billion, increasing by 8.53% compared to the previous year[73]. - The real estate sector loan balance was RMB 397.24 billion, with an NPL ratio of 2.82%, reflecting increased risk exposure[75]. Customer Deposits - The average balance of core deposits was CNY 5,635.73 billion, an increase of 12.64% year-on-year, accounting for 87.15% of the average daily customer deposits[131]. - The average daily balance of demand deposits accounted for 62.24% of total customer deposits, a decrease of 2.21 percentage points year-on-year, attributed to economic pressures and shifts in investment behavior[66]. Technology and Innovation - The company continues to invest in financial technology to enhance operational efficiency and digital capabilities[39]. - The overall cloud migration progress exceeded 90%, with the mainframe cloud migration development work nearly completed, marking a significant shift to cloud services[121]. - The company launched 203 new financial technology innovation projects and brought 165 new projects online, totaling 2,868 projects initiated and 2,126 projects online by the end of the reporting period[157]. Customer Base and Services - The number of retail customers reached 178 million, a year-on-year increase of 2.89%, with 4.02 million customers classified as "Golden Sunflower" or above, representing a growth of 9.58%[162]. - The company provided enterprise annuity trustee and account management services to 7,708 corporate clients, with a total scale of CNY 152.99 billion[176]. - The company supported 15,899 small and medium-sized enterprises with a total loan amount of CNY 208 billion under the "National Service One" model[156].

Financial Performance - The company reported a total revenue of RMB 100 billion for the first half of 2022, representing a year-on-year increase of 10%[2]. - The net profit attributable to shareholders was RMB 30 billion, up 12% compared to the same period last year[2]. - Operating income for the first half of 2022 was RMB 179,091 million, an increase of 6.13% compared to RMB 168,749 million in the same period of 2021[8]. - Net profit reached RMB 70,002 million, reflecting a growth of 13.55% from RMB 61,648 million year-on-year[8]. - The company achieved operating revenue of RMB 179.09 billion, a year-on-year increase of 6.13%[20]. - The net profit attributable to shareholders was RMB 69.42 billion, reflecting a year-on-year growth of 13.52%[20]. Asset and Loan Growth - The total assets of the bank reached RMB 8 trillion, reflecting a growth of 8% year-on-year[2]. - Total assets as of June 30, 2022, amounted to RMB 9,724,996 million, up 5.15% from RMB 9,249,021 million at the end of 2021[10]. - The total amount of loans and advances increased to RMB 5,931,807 million, representing a growth of 6.49% from RMB 5,570,034 million at the end of 2021[10]. - The total amount of loans and advances reached RMB 5,943.941 billion, growing by 6.49% year-on-year, accounting for 61.00% of total assets, an increase of 0.78 percentage points[50]. - The total amount of loans and advances was RMB 59.31807 billion, with normal loans accounting for 98.04% of the total[70]. Non-Performing Loans and Risk Management - The non-performing loan ratio stood at 1.5%, maintaining stability compared to the previous year[2]. - The non-performing loan ratio rose to 0.95%, an increase of 0.04 percentage points from 0.91% at the end of 2021[14]. - Non-performing loans amounted to RMB 5.6386 billion, an increase of RMB 5.524 billion, with a non-performing loan ratio of 0.95%, up 0.04 percentage points from the previous year[70]. - The overall loan quality remained stable, with minor increases in NPL ratios across various sectors[73]. - The company plans to continue focusing on credit support for key sectors while adjusting customer and credit structures to enhance risk management[139]. Capital Adequacy and Financial Ratios - The bank's capital adequacy ratio was reported at 14.5%, exceeding regulatory requirements[2]. - The capital adequacy ratio, tier 1 capital adequacy ratio, and core tier 1 capital adequacy ratio were 16.80%, 14.46%, and 12.32%, respectively, all showing a decline compared to the end of the previous year[93]. - The bank's leverage ratio was 7.64%, down 0.36 percentage points from the end of the previous year[93]. - The bank's total risk-weighted assets (considering the parallel period bottom line requirement) were RMB 5,926.08 billion, an increase of 6.51% from the end of the previous year[93]. Customer Growth and Engagement - User data indicated an increase in active accounts by 15% to 50 million users[2]. - Retail customer base reached 178 million, with wealth product holding customers increasing by 7.84% to 40.75 million[118]. - The number of retail loan customers (excluding credit cards) grew by 11.15% year-on-year, benefiting from enhanced data asset utilization[123]. - The cumulative user count of the招商银行App reached 178 million, with a peak daily active user count of 17.93 million[199]. Technology and Innovation - The bank has allocated RMB 5 billion for technology research and development in the next fiscal year[2]. - The company aims to enhance its wealth management, risk management, and financial technology capabilities as part of its strategic development plan[117]. - The number of newly launched financial technology innovation projects was 165, with a total of 2,126 projects launched to date[155]. - The company is committed to integrating digital services and enhancing customer service efficiency through AI technology[200]. Market Expansion and Strategic Initiatives - The company plans to expand its market presence in Southeast Asia, targeting a 20% growth in that region by 2023[2]. - The company aims to enhance its asset allocation and promote the growth of low-cost core deposits to manage funding costs effectively[126]. - The company will continue to focus on risk management in the real estate sector, emphasizing project risk monitoring and compliance with national policies[132].

Financial Performance - Net profit attributable to shareholders for Q1 2022 was RMB 36,022 million, a year-on-year increase of 12.52%[5] - Basic earnings per share for ordinary shareholders was RMB 1.43, reflecting a 12.60% increase compared to the same period last year[5] - The company achieved operating revenue of CNY 91,990 million in Q1 2022, a year-on-year increase of 8.54%[17] - Net profit for Q1 2022 reached RMB 36,309 million, an increase of 12.7% from RMB 32,249 million in Q1 2021[58] - Total operating income for Q1 2022 reached RMB 91,990 million, up from RMB 84,751 million in Q1 2021, reflecting a growth of 8.8%[58] - Net interest income for Q1 2022 was RMB 54,464 million, compared to RMB 49,524 million in Q1 2021, representing an increase of 9.9%[58] - The bank's total comprehensive income for Q1 2022 was RMB 32,752 million, compared to RMB 28,922 million in Q1 2021, reflecting a growth of 13.4%[62] Asset and Liability Management - Total assets as of March 31, 2022, reached RMB 9,415,379 million, an increase of 1.80% compared to the end of 2021[4] - The company's total liabilities amounted to RMB 8.51 trillion, up from RMB 8.38 trillion at the end of the previous year[54] - The bank's total assets as of March 31, 2022, amounted to RMB 8,834,369 million, up from RMB 8,700,134 million at the end of 2021, indicating a growth of 1.5%[56] - Customer deposits increased to RMB 6,494,494 million in Q1 2022, compared to RMB 6,150,241 million in Q4 2021, marking a rise of 5.6%[56] Equity and Shareholder Information - Total equity attributable to shareholders increased to RMB 893,494 million, up 4.05% from the end of 2021[4] - The number of ordinary shareholders reached 497,144, with 467,333 being A-share shareholders[9] - The top 10 shareholders include Hong Kong Central Clearing (Agent) with 4,552,885,976 shares, representing 18.05% of total equity, an increase of 479,661 shares from the previous year[10] Risk Management and Loan Quality - The non-performing loan balance was CNY 54,138 million, with a non-performing loan ratio of 0.94%, an increase of 0.03 percentage points year-on-year[18] - The company’s credit impairment losses were CNY 21,523 million, a year-on-year increase of 4.76%[25] - The balance of overdue loans is 62.65 billion RMB, an increase of 5.22 billion RMB, with an overdue loan ratio of 1.09%, up 0.07 percentage points[32] - The company will strengthen risk management measures and optimize risk management strategies based on specific project risks[31] Customer and Market Insights - The company's retail customer base reached 176 million, a growth of 1.73% compared to the end of the previous year[50] - The total assets under management (AUM) for retail customers amounted to RMB 11.34 trillion, an increase of RMB 580.08 billion, or 5.39%[50] - The number of high-net-worth clients (with average total assets of RMB 500,000 or more) grew to 3.89 million, a 6.06% increase year-over-year[50] Cash Flow and Liquidity - Net cash flow from operating activities was RMB 5,551 million, a significant improvement from a net outflow of RMB 32,388 million in the same period last year[5][6] - The liquidity coverage ratio for Q1 2022 averaged 175.32%, an increase of 10.50 percentage points from the previous quarter[71] - The total amount of qualified liquid assets was RMB 1,547,672 million, with a net cash outflow of RMB 882,787 million[72] Investment and Income Sources - Non-interest income for Q1 2022 was CNY 37,526 million, reflecting a year-on-year growth of 6.53%[21] - The bank's investment income for Q1 2022 was RMB 7,793 million, compared to RMB 5,321 million in Q1 2021, representing a significant increase of 46.4%[58] - Fee and commission income rose to RMB 27,433 million, compared to RMB 26,713 million in Q1 2021, marking a 2.7% increase[61]

Financial Performance - Net profit attributable to shareholders rose by 12.52% to RMB 36,022 million year-on-year[7]. - Operating income for the first quarter reached RMB 91,999 million, reflecting an 8.43% increase from the previous year[7]. - Basic and diluted earnings per share increased by 12.60% to RMB 1.43[7]. - The bank's equity attributable to shareholders increased by 4.05% to RMB 893,494 million compared to the end of last year[6]. - The net profit for Q1 2022 was RMB 36,309 million, an increase of 12.7% compared to RMB 32,249 million in Q1 2021[46]. - Total comprehensive income for Q1 2022 reached RMB 35,001 million, up from RMB 31,586 million in the same period last year, reflecting a growth of 10.4%[46]. Asset and Liability Management - Total assets increased by 1.80% to RMB 9,415,379 million compared to the end of last year[6]. - The total liabilities as of March 31, 2022, were RMB 8,514,645 million, compared to RMB 8,383,340 million at the end of 2021, showing an increase of 1.6%[48]. - Customer deposits totaled RMB 6,680.094 billion, reflecting a 5.25% increase from the end of the previous year[18]. - The total assets as of March 31, 2022, amounted to RMB 9,415,379 million, an increase from RMB 9,249,021 million at the end of 2021, representing a growth of 1.8%[48]. - Customer deposits increased to RMB 6,721,946 million as of March 31, 2022, compared to RMB 6,385,154 million at the end of 2021, marking a rise of 5.3%[48]. Loan and Credit Quality - The total loans and advances amounted to CNY 5,758.105 billion, increasing by 3.38% from the end of the previous year[18]. - The non-performing loan balance was CNY 54.138 billion, which increased by CNY 3.276 billion compared to the end of the previous year[18]. - The non-performing loan ratio stood at 0.94%, up 0.03 percentage points from the end of the previous year[18]. - The provision coverage ratio was 462.68%, down 21.19 percentage points from the end of the previous year[18]. - The company generated new non-performing loans of RMB 15.44 billion during the reporting period, with an annualized NPL generation rate of 1.16%, an increase of 0.21 percentage points year-on-year[33]. Risk Management - The company plans to continue executing national policies on real estate, focusing on market research and proactive risk management[26]. - The overall risk in the real estate sector is still in the release phase, with high debt levels among some real estate companies not showing significant improvement[26]. - The company aims to strengthen monitoring of key sectors such as real estate and local government credit to mitigate potential risks[35]. - The company will strengthen risk monitoring and analysis for key clients and optimize risk management measures based on specific project risks[26]. Cash Flow and Liquidity - Net cash flow from operating activities improved significantly to RMB 5,551 million, compared to a negative RMB 32,388 million in the same period last year[8]. - The net cash flow from investment activities for Q1 2022 was RMB (163,390) million, a significant decrease from RMB (44,731) million in Q1 2021[50]. - The total expected cash outflow was RMB 2,172,556 million, while the total expected cash inflow was RMB 1,685,508 million[52]. - The cash received from interest in Q1 2022 was RMB 70,670 million, compared to RMB 64,746 million in Q1 2021[50]. Capital Adequacy - The capital adequacy ratio met regulatory requirements, with the group maintaining a capital adequacy ratio above 10.5% and a core tier 1 capital ratio above 7.5%[36]. - The group's core Tier 1 capital adequacy ratio under the advanced approach is 12.71%, with a Tier 1 capital adequacy ratio of 14.89% and a total capital adequacy ratio of 17.29%[37]. - The group's net core Tier 1 capital increased to RMB 739,165 million, a growth of 4.94% compared to the previous year[37]. Customer Base and Asset Management - The number of retail customers reached 176 million, a growth of 1.73% year-over-year[43]. - The total assets under management (AUM) for retail customers increased to RMB 11,339.25 billion, up by RMB 580.08 billion or 5.39% from the previous year[43]. - The total scale of asset management business for subsidiaries reached RMB 4.41 trillion, growing by 2.32% from the previous year[43].

Financial Performance - In 2021, China Merchants Bank achieved a net operating income of RMB 331.4 billion, representing a year-on-year growth of 14.17%[10]. - The net profit attributable to shareholders for 2021 was RMB 119.9 billion, an increase of 23.20% compared to the previous year[10]. - The company's operating income for 2021 was RMB 331.41 billion, an increase of 14.17% compared to RMB 290.28 billion in 2020[39]. - Pre-tax profit reached RMB 148.17 billion, reflecting a growth of 21.02% from RMB 122.44 billion in the previous year[39]. - The total assets as of December 31, 2021, amounted to RMB 9,249.02 billion, a 10.62% increase from RMB 8,361.45 billion at the end of 2020[39]. - Total liabilities were RMB 8,383.34 billion, representing a 9.86% increase from RMB 7,631.09 billion in 2020[39]. - Customer deposits totaled RMB 6,347.08 billion, up 12.77% from RMB 5,628.34 billion in the previous year[39]. - The company's brand value was reported at USD 21.04 billion, ranking 10th globally in the "Top 500 Global Bank Brand Value" list[35]. Asset Quality and Risk Management - The non-performing loan ratio improved to 0.91%, with a provision coverage ratio of 483.87%[10]. - The bank's risk compensation ability continues to strengthen, as evidenced by the improved asset quality metrics[10]. - The provision for loan losses at the end of the reporting period was RMB 246.104 billion, an increase of RMB 11.440 billion from the previous year, with a provision coverage ratio of 483.87%, up 46.19 percentage points year-on-year[117]. - The non-performing loan ratio for corporate real estate loans increased to 1.39%, up 1.16 percentage points year-on-year[151]. - The overdue loans totaled RMB 57.426 billion, an increase of RMB 0.858 billion from the previous year, with an overdue loan ratio of 1.02%, a decrease of 0.10 percentage points year-on-year[111]. Customer Base and Retail Banking - As of the end of 2021, the retail customer base exceeded 170 million, with total assets under management (AUM) surpassing 10 trillion RMB, marking an incremental increase of over 1 trillion RMB[13]. - The number of retail customers reached 173 million, with wealth product holding customers increasing by 29.68% year-on-year[137]. - The average daily balance of retail customer deposits was 2,168.16 billion RMB, up 14.15% from the previous year, maintaining the top position among national small and medium-sized banks[183]. - The balance of retail wealth management products reached 3,003.85 billion RMB, reflecting a 35.48% increase from the previous year[184]. Wealth Management and Financial Technology - The wealth management revenue accounted for nearly 16% of total revenue, marking a significant contribution to the new business model exploration[19]. - The company aims to enhance its capabilities in wealth management, financial technology, and risk management as part of its strategic transformation during the 14th Five-Year Plan[16]. - The company launched the intelligent wealth assistant "AI Xiao Zhao," providing 24/7 wealth management services, serving 12.64 million customers, a year-on-year increase of 35.52%[179]. - The company has implemented a decentralized service interaction strategy to enhance customer service efficiency and experience[190]. Strategic Focus and Development - The bank's strategic focus remains on high-quality development and prudent risk management[10]. - The bank's management emphasizes the importance of innovation and market differentiation in its growth strategy[11]. - The bank's strategic vision includes becoming the best value-creating bank through innovation and distinctive features[32]. - The company plans to continue supporting the development of "specialized, refined, unique, and innovative" enterprises through financial services[14]. Digital Transformation and Customer Engagement - The digital RMB was successfully launched, with the company officially recognized as an operating institution for the digital RMB by the central bank[13]. - The bank aims to enhance customer engagement through a 7x24 hour service network combining customer managers, remote services, and apps[22]. - The online processing rate for corporate financing business reached 67.26%, an increase of 28.41 percentage points year-on-year[141]. - The company has deepened the management of its mobile app platform to enhance customer engagement and service delivery[190]. Corporate Social Responsibility and ESG Initiatives - The company has committed to sustainable development and social responsibility, achieving an upgrade to an A rating in the MSCI ESG rating[14]. - The bank plans to enhance its ESG initiatives, focusing on social responsibility in areas like rural revitalization, education, and environmental protection[25]. - The bank is responding to national calls for "dual carbon" and common prosperity, enhancing its environmental, social, and governance (ESG) responsibility framework[31].

Financial Performance - In 2021, China Merchants Bank achieved an operating income of RMB 331.3 billion, representing a year-on-year growth of 14.04%[9] - The net profit attributable to shareholders for 2021 was RMB 119.9 billion, an increase of 23.20% compared to the previous year[9] - Return on average equity (ROAE) reached 16.96%, up by 1.23 percentage points from the previous year[9] - The bank's total assets return on average (ROAA) was 1.36%, an increase of 0.13 percentage points year-on-year[9] - The company plans to allocate 10% of the audited net profit for 2021, amounting to RMB 10.98 billion, to statutory surplus reserves[8] - Operating income for 2021 reached RMB 331,253 million, an increase of 14.04% compared to 2020[37] - Net profit for 2021 was RMB 120,834 million, reflecting a growth of 23.35% year-over-year[37] - Total assets as of December 31, 2021, amounted to RMB 9,249,021 million, a 10.62% increase from the previous year[38] - Basic earnings per share for 2021 were RMB 4.61, up 21.64% from RMB 3.79 in 2020[37] Asset Quality - The non-performing loan ratio improved to 0.91%, with a provision coverage ratio of 483.87%[9] - Non-performing loan ratio fell below 1%, indicating continued asset quality optimization[17] - The non-performing loan (NPL) ratio was 0.91%, a decrease of 0.16 percentage points from the previous year[52] - The loan loss provisions increased to RMB 246,104 million, with a provision coverage ratio of 483.87%, up by 46.19 percentage points year-on-year[122] - The non-performing loan (NPL) balance was RMB 53.615 billion, a decrease of RMB 2.753 billion year-on-year, with an NPL ratio of 0.91%, down 0.16 percentage points[104] Strategic Vision and Transformation - The bank's strategic vision for the "14th Five-Year Plan" focuses on becoming a "best value-creating bank" with an emphasis on wealth management, digital operations, and open integration[11] - The company aims to enhance capabilities in wealth management, financial technology, and risk management as part of its strategic transformation[11] - The company aims to enhance its core competitiveness by implementing a 3.0 development model focused on wealth management, digital operations, and open integration[32] - The company is committed to a "light bank" strategy, emphasizing light assets, operations, management, and culture to explore weak-cycle development paths[33] - The bank emphasizes the importance of timely transformation and strategic decision-making to maintain long-term market competitiveness[11] Customer Base and Wealth Management - Retail customer base exceeded 170 million, with total assets under management (AUM) surpassing 10 trillion RMB, marking an incremental increase of over 1 trillion RMB[12] - Wealth management revenue accounted for nearly 16% of total revenue, highlighting its significance in the new business model[17] - The company aims to enhance its wealth management capabilities and digital operations as part of its 3.0 model transformation strategy[18] - The company aims to enhance its wealth management income, which includes fees and commissions from wealth management, asset management, and custody services[20] - The total number of retail customers reached 173 million, with a 29.68% year-on-year increase in customers holding wealth management products[145] Digital Transformation and Technology - The launch of digital RMB positioned the company as an officially recognized operator by the central bank[12] - The company introduced 253 new public fund custody projects, with a custody scale of CNY 406.8 billion, ranking first in the market for both the number of projects and scale[146] - The company’s digital loan operation process has achieved an online rate of 89.46%, an increase of 17 percentage points year-on-year, enhancing operational efficiency[182] - The company’s technology platform has 2,811 shared components, with 1,962 released during the reporting period, facilitating better data utilization[183] - The company’s customer service capabilities were enhanced through the introduction of the AI assistant "AI Xiao Zhao," which provides 24/7 wealth management services[181] Risk Management and Compliance - The company is building a comprehensive risk and compliance management system to support its 3.0 development model, ensuring a customer-centric risk management approach[35] - The company plans to enhance project risk monitoring and management in the real estate sector to maintain overall asset quality stability[158] - The company will closely monitor external environmental changes and maintain a prudent risk preference in its operations[171] - The company aims to maintain stable asset quality in local government financing platform business amid regulatory constraints[172] - The company has implemented differentiated credit policies in key regions, resulting in an increase in loan balances in the Yangtze River Delta, Bohai Rim, and Pearl River Delta regions[112] Awards and Recognition - In 2021, China Merchants Bank was recognized as "China's Best Bank" by EuroMoney magazine for the third consecutive year[9] - The company ranked 10th globally in brand value with $21.044 billion according to the 2021 "Global Bank Brand Value 500" list by The Banker magazine[36] - The company achieved a 14th place ranking in the 2021 Global Bank 1000 list, improving by 3 positions from the previous year, based on Tier 1 capital size[36] - The company was recognized as the "Best National Private Bank" and received multiple awards in the 2021 "China Private Banking Awards" by Asiamoney[36] - The company has been awarded the "Best Retail Bank in China" for three consecutive years, marking a historic achievement[36]