Industry Focus - 17 listed banks have announced the cancellation of their supervisory boards, influenced by the revised Company Law and financial regulatory policies set to take effect in 2024 [1] Corporate Dynamics - Hangzhou Bank has completed the market-oriented conversion of 15 billion yuan in convertible bonds, marking significant progress in capital replenishment [4] - JiuTai Rural Commercial Bank is facing a pre-loss forecast of 1.7 billion to 1.9 billion yuan for 2024 and is set to delist following a voluntary conditional cash offer for its H-shares and domestic shares [5] - Chengdu Rural Commercial Bank plans to absorb and merge six village banks located in Sichuan Province [6] - Chongqing Rural Commercial Bank has obtained fund custody qualifications, becoming the first commercial bank to do so this year [7] - Shunde Rural Commercial Bank has withdrawn its IPO application after a prolonged lack of progress since its initial submission in 2019 [8] Financial Personnel - Zheshang Bank announced the resignation of Chairman Lu Jianqiang due to age, with Chen Haiqiang approved to take over as the new president [9][10]

Group 1: Central Bank and Financial Regulations - The People's Bank of China has released a draft for the "Rules for Cross-Border Payment System" to enhance the management mechanism of CIPS, addressing account management, funding settlement, and risk management [1] - The draft includes six chapters and thirty-one articles to adapt to the ongoing optimization and functional upgrades of CIPS [1] Group 2: Consumer Finance Industry - In the first half of 2025, seven consumer finance companies issued a total of 12.1 billion yuan in financial bonds, a decrease of approximately 40% year-on-year [1] - Despite the decline in issuance, low-interest rates have allowed some financial bonds to drop below 2%, aiding in cost reduction and liability optimization [1] - The consumer finance industry is diversifying its financing channels, with ABS and syndicated loans becoming more mainstream [1] Group 3: Banking Sector Performance - JiuTai Rural Commercial Bank is expected to report a net loss of 1.7 to 1.9 billion yuan for 2024, leading to a cash offer for its shares and the initiation of delisting procedures [2] - The bank's performance has deteriorated significantly, with revenue and net profit shrinking, and an increase in non-performing loan rates [2] - China Resources Bank has seen a notable decline in performance, with a 67.97% drop in net profit for 2024 and a further 74.22% decrease in the first quarter of 2025 [2] Group 4: Audit and Compliance - Huishang Bank has appointed KPMG as its new auditing firm for the 2025 fiscal year, replacing Ernst & Young [3] Group 5: Innovative Banking Services - Shanghai Pudong Development Bank has launched "pet-friendly" branches, providing amenities for pet owners and introducing themed financial products [3] - The bank aims to enhance customer experience while fulfilling social responsibilities through community engagement and support for stray animals [3] Group 6: Fund Custody Qualification - Chongqing Rural Commercial Bank has obtained fund custody qualifications, becoming the first commercial bank to do so in 2023 [4] - A total of 37 banks have now received fund custody qualifications, including various categories of banks [4]

Core Viewpoint - The emergence of high deposit interest rates, such as 3.05% offered by certain village banks, is a rare phenomenon in the current low-rate environment, raising concerns about potential market reactions and price wars [1][5][6] Group 1: High Deposit Rates - Recently, the Qingyuan Qingxin Huimin Village Bank in Guangdong has gained attention for offering a three- and five-year deposit product with an interest rate of 3.05%, which is significantly higher than the prevailing rates [2][3] - Other village banks in smaller cities are also offering high deposit rates, with the Huizhou Huidong Huimin Village Bank previously offering rates as high as 3% [4] - The high interest rates are primarily a strategy to attract deposits during critical periods, such as the end of June, when banks typically seek to bolster their deposit base [1][5] Group 2: Market Context and Trends - The overall trend in the banking sector has been a decline in deposit rates, with major banks reducing rates across various terms, leading to a situation where most fixed-term deposit rates have entered the "1" era [2][6] - The high interest rates offered by village banks are seen as localized phenomena with limited impact on the broader market, as they are often subject to strict limits on availability [5][6] - Analysts predict that the overall trend for deposit rates will continue to decline due to ongoing monetary policy easing and external low-rate environments, with expectations of further rate cuts in the latter half of 2025 [6] Group 3: Financial Health of Banks - The Jilin Jiutai Rural Commercial Bank, which owns the Qingyuan Qingxin Huimin Village Bank, has faced financial difficulties, reporting a net loss of 85.8 million yuan as of Q3 2024 [7] - The bank has been involved in restructuring and has delayed the release of its 2024 annual report due to complexities in auditing its extensive customer base [7] - As of mid-2024, Jiutai Rural Commercial Bank controlled 34 village banks, contributing approximately 34.7% of its total revenue, indicating a significant reliance on these entities for income [7]

Major Events - JiuTai Rural Commercial Bank (06122) plans to sell 78.51% stake in HuanShan HuiMin Village Bank for 40.4 million yuan [1] - Vanke Enterprises (02202) intends to receive a loan of up to 3 billion yuan from its major shareholder, Shenzhen Metro Group [1] - China Gas Holdings (08246) signed a memorandum of understanding with the Lao Ministry of Industry and Commerce to explore cooperation in developing fuel and natural gas supply networks in Laos [1] - Miniso Group (09896) is conducting a preliminary assessment on the potential spin-off listing of its trendy toy business operated under the "TOP TOY" brand [1] - Baiyunshan Pharmaceutical (00874) subsidiary received approval from the National Medical Products Administration for the drug registration certificate of Tadalafil tablets (2.5mg, 5mg) [1] - Huaxing Capital Holdings (01911) portfolio company Circle successfully listed on the New York Stock Exchange, marking the first IPO milestone in the global stablecoin sector [1] - China National Nuclear Corporation (01763) plans to initiate its first irradiation station cooperation project in Peru [1] Operating Performance - Yuexiu Property (00123) reported a cumulative contract sales amount of approximately 50.7 billion yuan in the first five months, an increase of about 26.5% year-on-year [1] - China Overseas Land & Investment (00688) recorded a cumulative property sales amount of approximately 90.4 billion yuan in the first five months, a decrease of 11.1% year-on-year [1] - Shimao Group (00813) reported a cumulative contract sales total of 11.2 billion yuan in the first five months, a decrease of 18.71% year-on-year [1] - Zhongliang Holdings (02772) achieved a cumulative contract sales amount of approximately 5.37 billion yuan in the first five months, a decrease of 33.38% year-on-year [1] - GAC Group (02238) experienced a year-on-year decline in May's automobile production by 8.16% and a sales drop of 24.80% [1] - Poly Property Group (00119) achieved a contract sales amount of approximately 21.8 billion yuan in the first five months, an increase of 3.81% year-on-year [1] - New天绿色能源 (00956) completed a power generation volume of approximately 7.29 million megawatt-hours in the first five months, an increase of 10.86% year-on-year [1]

Core Viewpoint - The upcoming match between Guangzhou Longtai Haiben and Jiu Tai Rural Commercial Bank is crucial for both teams, impacting their standings and playoff scenarios Team Performance - Guangzhou Longtai Haiben currently holds a record of 20 wins and 21 losses, ranking 10th in the standings, and is striving for a higher position [3] - The team has a strong offensive performance, averaging approximately 110 points per game [3] - Jiu Tai Rural Commercial Bank has a record of 12 wins and 29 losses, ranking 18th and has already been eliminated from playoff contention [8] Key Players - Chen Yingjun is the core player for Guangzhou Longtai Haiben, averaging 18 points and 8 assists per game, crucial for the team's organization and scoring [4] - Zhu Mingzhen contributes an average of 15 points and 5 rebounds, providing strong support on both defense and offense [5] - Jiang Yuxing is the scoring leader for Jiu Tai Rural Commercial Bank, averaging 20 points per game, essential for the team's offensive strategy [9] - Jones also plays a significant role in scoring and assists, enhancing the team's offensive capabilities [9] Team Strengths - Guangzhou Longtai Haiben excels in offensive firepower, ranking high in scoring efficiency [6] - The team also demonstrates strong defensive intensity, allowing an average of around 112 points per game while effectively disrupting opponents' scoring opportunities [6] - Jiu Tai Rural Commercial Bank shows potential in offensive performance, with a high average score, and benefits from the energy of young players [10] Key Matchup - The matchup between Chen Yingjun and Jiang Yuxing will be pivotal, testing both teams' defensive capabilities [12] - Zhu Mingzhen's defensive skills will challenge Zhong Cheng's performance in the paint [12] - The duel between McWayne and Jones will be critical for both teams' offensive strategies [12] Score Prediction - The match is expected to be intense, with Guangzhou Longtai Haiben favored to win due to their superior defense and offensive strength, with a predicted score of 110 to 103 [13]

Group 1 - The core viewpoint is that the banking sector in China has experienced a general increase in stock prices, with notable performances from specific banks [1][2] - JiuTai Rural Commercial Bank led the gains with a remarkable increase of 11.69% [1] - China Everbright Bank followed closely with a rise of 4.76%, while several other banks, including Industrial and Commercial Bank of China, Minsheng Bank, and Postal Savings Bank, saw increases exceeding 3% [2]

Financial Performance - Jilin Jiutai Rural Commercial Bank reported a mid-year financial summary for 2024, with total assets reaching RMB 100 billion, reflecting a year-on-year increase of 15%[3]. - The bank's net profit for the first half of 2024 was RMB 1.5 billion, representing a growth of 10% compared to the same period last year[3]. - Future outlook includes a projected net profit growth of 12% for the full year 2024, driven by increased lending and improved asset quality[3]. - The net profit for the period was RMB 130.2 million, reflecting a slight increase of 1.6% compared to RMB 128.1 million for the same period in 2023[21]. - The pre-tax profit for the period was RMB 134.0 million, an increase of 39.9% year-on-year[31]. - The total operating income was RMB 2,045.2 million, a decrease of 18.8% compared to RMB 2,517.5 million for the same period in 2023[28]. - The net interest income decreased by 25.8% to RMB 1,792.7 million for the six months ended June 30, 2024, compared to RMB 2,417.1 million for the same period in 2023[21]. - The bank's total equity increased by 1.5% to RMB 19,150.2 million as of June 30, 2024, from RMB 18,864.5 million as of December 31, 2023[22]. Customer Base and Market Expansion - User data indicates that the bank has expanded its customer base by 20%, now serving over 1 million clients[3]. - Market expansion strategies include opening 10 new branches in key urban areas by the end of 2024[3]. - The company aims to enhance retail transformation and optimize operational structure to support high-quality development and regional economic growth[27]. Digital Transformation and Innovation - The bank plans to launch a new digital banking platform by Q4 2024, aiming to enhance customer experience and operational efficiency[3]. - Research and development efforts are focused on integrating AI technologies into banking services to streamline operations and reduce costs[3]. Risk Management - The bank has implemented new risk management strategies, resulting in a 5% reduction in non-performing loans[3]. - The bank has established a comprehensive risk management system to mitigate uncertainties affecting strategic and operational goals[153]. - Credit risk management involves a structured organization including the board, risk management committees, and various departments to oversee credit risk associated with corporate and retail loans[154]. - The bank's liquidity risk management aims to ensure the timely acquisition of sufficient funds to meet debt obligations, focusing on both external and internal factors[163]. Loan and Asset Management - The total amount of loans and advances increased by 1.7% from RMB 178,111.4 million to RMB 181,173.5 million, with net loans and advances accounting for 68.5% of total assets[75]. - The provision for impairment losses on loans and advances rose by 3.6% from RMB 6,554.5 million as of December 31, 2023, to RMB 6,791.5 million as of June 30, 2024, reflecting increased risk assessment[81]. - The bank's non-performing loan ratio increased to 2.44% as of June 30, 2024, from 2.34% as of December 31, 2023[24]. Shareholder and Governance Structure - The bank's board of directors consists of eight members, with significant roles in strategic decision-making and business development[193]. - The bank's management team includes Chen Xinzhe as the President, responsible for overall business operations, and several vice presidents overseeing various departments[196]. - The largest shareholder of Jiutai Rural Commercial Bank is Jilin Trust Co., Ltd., holding 487,618,170 shares, which accounts for 9.61% of the total issued share capital[191]. Financial Ratios and Capital Adequacy - The bank's capital adequacy ratio stands at 12.5%, above the regulatory requirement, indicating a strong financial position[3]. - As of June 30, 2024, the core tier 1 capital ratio increased to 8.85% from 8.72% as of December 31, 2023[183]. - The total risk-weighted assets amounted to 195,962.7 million RMB, up from 195,300.0 million RMB[183]. Operational Efficiency and Cost Management - Total operating expenses decreased by 6.3% from RMB 1,380.2 million to RMB 1,292.7 million, reflecting enhanced cost control measures[64]. - Employee costs decreased by 4.7% from RMB 921.6 million to RMB 878.0 million[65]. - The cost-to-income ratio increased to 61.79% for the six months ended June 30, 2024, compared to 53.18% for the same period in 2023[23]. Compliance and Regulatory Framework - The bank initiated a compliance risk management framework, emphasizing internal control and compliance culture to ensure lawful operations[167]. - The internal audit system is designed to promote compliance with national financial regulations and improve risk management and internal controls[172].

Financial Performance - For the six months ended June 30, 2024, the bank reported interest income of RMB 5,670.3 million, a decrease of 13.2% from RMB 6,533.5 million in the same period of 2023[5]. - Net interest income for the same period was RMB 1,792.7 million, down 25.8% from RMB 2,417.1 million year-on-year[5]. - The bank's net profit for the period was RMB 130.2 million, a slight increase of 1.6% compared to RMB 128.1 million in the same period of 2023[5]. - The total operating income for the six months ended June 30, 2024, was RMB 2,045.2 million, a decrease of 18.8% compared to RMB 2,517.5 million for the same period in 2023[11]. - The pre-tax profit for the six months ended June 30, 2024, was RMB 134.0 million, an increase of 39.9% year-on-year[13]. - The basic earnings per share for the six months ended June 30, 2024, was RMB 0.02, down 33.3% from RMB 0.03 in the previous year[5]. - The company reported a profit for the period of RMB 130,205, slightly up from RMB 128,071 in the same period of 2023, indicating a growth of 1.7%[178]. - The company’s total equity increased to RMB 19,150,215 as of June 30, 2024, from RMB 18,864,537 at the end of 2023, representing a growth of 1.5%[180]. Asset and Liability Management - The bank's total assets as of June 30, 2024, were RMB 265,068.0 million, a decrease of 1.7% from RMB 269,775.0 million at the end of 2023[6]. - Total liabilities decreased by 2.0% to RMB 245,917.8 million from RMB 250,910.5 million as of December 31, 2023[6]. - Total deposits decreased by 1.7% to RMB 232,586.4 million compared to the beginning of the year[11]. - The total amount of loans and advances issued increased by 1.7% from RMB 178,111.4 million as of December 31, 2023, to RMB 181,173.5 million as of June 30, 2024[56]. - The total amount of investment securities and other financial assets decreased by 7.2% from RMB 38,696.0 million as of December 31, 2023, to RMB 35,890.9 million as of June 30, 2024[111]. Loan and Asset Quality - The non-performing loan ratio increased to 2.44% from 2.34% at the end of 2023, indicating a deterioration in asset quality[7]. - The non-performing loans (NPLs) reached RMB 4,419.9 million, resulting in a non-performing loan ratio of 2.44%, up from 2.34% as of December 31, 2023[75]. - Retail loans saw an increase in the non-performing loan ratio from 5.56% to 6.20% during the same period, attributed to economic pressures and slow income growth for some borrowers[82]. - The impairment loss on assets decreased to RMB 616,043 thousand for the six months ended June 30, 2024, compared to RMB 1,043,898 thousand for the same period in 2023, representing a reduction of approximately 41%[198]. Interest Income and Expenses - Interest income decreased by 13.2% from RMB 6,533.5 million for the six months ended June 30, 2023, to RMB 5,670.3 million for the six months ended June 30, 2024, primarily due to a decline in the average yield on interest-earning assets from 4.94% to 4.24%[22]. - Total interest expenses decreased from RMB 4,116.4 million in 2023 to RMB 3,877.6 million in 2024, reflecting a reduction in the average interest rate from 3.20% to 2.90%[17]. - The average yield on loans and advances decreased from 6.13% to 5.20%[16]. - The average interest rate on interest-bearing liabilities decreased by 0.30 percentage points, primarily due to adjustments in deposit pricing strategies[37]. Operational Efficiency - Operating expenses decreased by 6.3% from RMB 1,380.2 million to RMB 1,292.7 million, attributed to enhanced cost control measures[45]. - Employee costs fell by 4.7% from RMB 921.6 million to RMB 878.0 million, mainly due to a reduction in salaries and bonuses[47]. - The company has three branches, 89 sub-branches, and 35 subsidiaries as of June 30, 2024, indicating a stable operational structure[186]. Risk Management - The bank implemented a comprehensive risk management system to mitigate uncertainties affecting strategic and operational goals, focusing on credit, market, operational, liquidity, reputational, legal compliance, and information technology risks[131]. - The liquidity risk management framework is established to ensure timely access to sufficient funds for debt repayment, influenced by both external and internal factors[141]. - The company conducted liquidity risk stress tests quarterly, setting appropriate stress scenarios to reflect cash flow gaps and financing capabilities under risk mitigation[142]. - The company has established a comprehensive network security protection system to respond to major threats and incidents effectively[146]. Strategic Initiatives - The bank aims to enhance retail transformation and optimize operational management to promote high-quality development[10]. - The strategic vision includes becoming a competitive professional financial service provider with a focus on supporting the real economy and local development[10]. - The company plans to continue focusing on market expansion and new product development to drive future growth[181]. - The company launched several digital financial products, including "Jiu e Loan," "Trade Union Loan," and "Cloud Car Loan," enhancing its service offerings in the first half of 2024[128].

Operational Performance - The bank has maintained a stable operational performance amidst various challenges, focusing on serving the real economy and rural revitalization initiatives [4]. - The bank's leadership expresses gratitude to shareholders, investors, and employees for their support and contributions to the bank's achievements [7]. - The bank's corporate culture emphasizes "struggle, service, compliance, and integrity," which has been fully promoted throughout the organization [4]. Retail Transformation - The bank has initiated a retail transformation, launching three major campaigns to enhance its retail business and optimize channel construction [7]. - The group plans to enhance retail transformation and optimize operational management to drive growth [33]. - The total operating income for retail banking was RMB 2,872.1 million for the year ended December 31, 2023, compared to RMB 3,313.8 million in 2022, reflecting an increase in contribution to total income [109]. Financial Performance - In 2023, the company's annual profit was RMB 178.4 million, a significant decrease from RMB 1,672.0 million in 2022 [29]. - Total assets reached RMB 269,775.0 million in 2023, slightly up from RMB 267,000.7 million in 2022 [30]. - The net profit for 2023 dropped by 89.3% to RMB 178.4 million, down from RMB 1,672.0 million in 2022 [34]. Risk Management - The bank has established a comprehensive risk management system covering all business areas and processes, with a focus on credit management and risk monitoring [4]. - The bank's comprehensive risk management framework includes credit risk, market risk, operational risk, liquidity risk, and information technology risk, with the board overseeing the risk management process [161]. - The bank's operational risk management framework includes strict separation of responsibilities across front, middle, and back offices [192]. Community Engagement and Recognition - The bank has received recognition for its community service initiatives, including being awarded as a national model for volunteer service activities [7]. - Jilin Jiutai Rural Commercial Bank received the "Outstanding Case of Banking Services for Rural Revitalization" award for 2022 from China Net [26]. - The bank was awarded the "2023 Inclusive Finance Award" by Investment Times, highlighting its commitment to financial inclusivity [27]. Asset and Liability Management - The bank's total liabilities reached RMB 250,910.5 million, with deposits from customers being the largest component [167]. - The bank's liquidity position is supported by cash and deposits with central banks totaling RMB 27,149.6 million [167]. - The bank's asset-liability gap as of December 31, 2023, was RMB 18,864.5 million, indicating a significant difference between assets and liabilities [167]. Investment and Loan Portfolio - The total amount of loans and advances rose by 3.5% to RMB 178,111.4 million as of December 31, 2023, with net loans and advances representing 65.4% of total assets [79]. - The total amount of retail loans was RMB 25,749.8 million, with a non-performing loan amount of RMB 1,430.8 million, resulting in an NPL ratio of 5.56% [102]. - The total amount of investment securities and other financial assets increased by 14.7% to RMB 38,696.0 million as of December 31, 2023, up from RMB 33,726.6 million as of December 31, 2022 [139]. Compliance and Governance - The bank has established a comprehensive internal audit system independent of business operations, ensuring effective evaluation of risk management and compliance [196]. - Legal compliance risk management aims to establish a robust compliance framework to prevent legal sanctions and financial losses [183]. - The bank's compliance culture will be promoted through a series of activities aimed at reinforcing the importance of compliance across all levels [183]. Future Outlook and Strategic Direction - The company aims to enhance market expansion strategies in the upcoming fiscal year [200]. - Future outlook indicates a focus on new product development and technological advancements [200]. - The report highlights a commitment to transparency and accuracy in financial reporting [200].

Financial Performance - The annual profit for the year ended December 31, 2023, was RMB 178.4 million, a decrease from RMB 1,672.0 million in 2022[6]. - The net profit for 2023 was RMB 178.4 million, down 89.3% from RMB 1,672.0 million in 2022[12]. - The total operating income of the group was RMB 5,514.3 million, a decrease of 16.4% compared to RMB 6,597.1 million in 2022[12]. - The pre-tax profit for 2023 was RMB 66.4 million, a decline of 96.7% compared to the previous year[15]. - Total comprehensive income for the year was RMB 250,987,000, compared to RMB 1,622,887,000 in the previous year, reflecting a significant decrease[192]. - The company incurred a net loss from trading activities of RMB 47,532 thousand for the year, compared to a gain of RMB 95,101 thousand in 2022[191]. - The company’s fee and commission income decreased to RMB 98,439 thousand, down from RMB 153,493 thousand in the previous year, reflecting a decline of approximately 35.9%[191]. - The company’s dividend income dropped to RMB 7,784 thousand from RMB 21,423 thousand in 2022, a decrease of about 63.7%[191]. Asset and Liability Management - Total assets increased to RMB 269,775.0 million in 2023, compared to RMB 267,000.7 million in 2022, representing a growth of 1.0%[8]. - Total liabilities reached RMB 250,910.5 million in 2023, an increase from RMB 248,381.4 million in 2022[8]. - The bank's total liabilities stood at RMB 250,910.5 million as of December 31, 2023, compared to RMB 248,381.4 million in 2022[68]. - The bank's cash and deposits with central banks totaled RMB 27,149.6 million, providing a strong liquidity buffer[142]. - The asset-liability gap stood at RMB 18,864.5 million, indicating a positive liquidity position[143]. - The bank's liquidity risk management framework emphasizes proactive management, maintaining a stable liquidity position despite external economic changes[151]. Loan and Deposit Trends - The total amount of loans and advances issued increased by 3.5% to RMB 178,111.4 million as of December 31, 2023, accounting for 65.4% of total assets[57]. - Total deposits reached RMB 236,654.1 million, marking a year-on-year increase of 4.1%[12]. - The bank's loan-to-deposit ratio was 75.26% in 2023, a slight decrease from 75.67% in 2022[8]. - Retail deposits accounted for 80.1% of total deposits as of December 31, 2023, up from 74.5% in the previous year[69]. - The total amount of retail loans issued by the company was RMB 25,749.8 million, accounting for 14.5% of the total loans and advances[101]. Non-Performing Loans and Asset Quality - The non-performing loan ratio rose to 2.34% in 2023, up from 1.98% in 2022, indicating a deterioration in asset quality[8]. - Non-performing loans increased to RMB 4,175.5 million, resulting in a non-performing loan ratio of 2.34% as of December 31, 2023, up from 1.98% in the previous year[75]. - The provision for loan impairment increased by 22.3% from RMB 5,359.5 million as of December 31, 2022, to RMB 6,554.5 million as of December 31, 2023, reflecting changes in loan scale and potential risk levels[63]. - The amount of loans classified as "attention" rose significantly from RMB 5,533.9 million in 2022 to RMB 10,563.5 million in 2023, indicating increased credit risk[74]. Interest Income and Expenses - Net interest income for 2023 was RMB 5,528.4 million, down from RMB 6,514.9 million in 2022, reflecting a decline of approximately 15.1%[7]. - Interest income decreased by 4.9% from RMB 14,382.7 million in 2022 to RMB 13,674.5 million in 2023, primarily due to a decline in average yield on interest-earning assets from 5.65% to 5.15%[24]. - Total interest expense increased to RMB 8,146.1 million in 2023 from RMB 7,867.8 million in 2022, with deposits accounting for 93.6% of total interest expense[32]. - The average yield on total deposits was 3.24% in 2023, slightly up from 3.22% in 2022[33]. Operational and Strategic Initiatives - The group plans to enhance retail transformation and optimize operational management to drive growth[11]. - The strategic vision includes becoming a competitive professional financial service provider with a focus on serving the real economy[11]. - The company plans to focus on expanding its interest-earning asset base to improve net interest income in the future[24]. - The company has established a village bank management department to assist in strategic development and risk management, enhancing operational support across six service centers[128]. Risk Management - The company has established a comprehensive risk management system to mitigate uncertainties affecting strategic and operational goals[134]. - Credit risk management is primarily associated with corporate loans, retail loans, and funding operations, with a structured organization involving various committees and departments[135]. - The company implements a client admission mechanism to determine target customers based on its market positioning and credit policies[136]. - The bank's operational risk management is overseen by the board, with the legal compliance department leading daily monitoring and control efforts[149]. Corporate Governance - The company emphasizes high standards of corporate governance as a key factor in enhancing its core competitiveness and has established a modern governance structure[183]. - The company has fully complied with all applicable provisions of the Corporate Governance Code during the reporting period[183]. - The board has proposed not to distribute a final dividend for the year ended December 31, 2023, pending approval at the 2023 annual general meeting[185].