Core Viewpoint - Zhengzhou Bank has been recognized for its innovative financial practices that contribute to high-quality development, showcasing a unique path in strategic transformation for local banks [3][10]. Group 1: Financial Innovation - Zhengzhou Bank won the "2024 Financial Institution Five Major Articles Practice Award" at the 19th "China Financial Brand List," highlighting its ability to serve the real economy [3]. - The bank's strategic transformation aligns with national policies, demonstrating a commitment to innovation in various financial sectors [10]. Group 2: Technology Finance - As a key player in policy-driven technology finance in Henan Province, Zhengzhou Bank focuses on "early, small, and hard technology" investments, creating a service system that covers the entire lifecycle of enterprises [4]. - The bank has been recognized for its "Technology Loan" and "Specialized and Innovative Loan" programs, receiving awards for its support of small and micro enterprises [4]. Group 3: Green Finance - Zhengzhou Bank is committed to supporting low-carbon transformation projects, including infrastructure upgrades and clean energy initiatives, successfully issuing 2 billion yuan in green bonds [5]. - The bank integrates green concepts into its corporate culture, promoting a dual approach of institutional innovation and cultural immersion [5]. Group 4: Pension Finance - In response to an aging population, Zhengzhou Bank has developed a "financial + service" ecosystem for elderly care, offering specialized products and services that extend beyond traditional banking [6]. - The bank's "Pension Financial Service Station" enhances customer satisfaction by integrating health management and consumer rights protection for elderly clients [6]. Group 5: Inclusive Finance - Zhengzhou Bank addresses financing challenges for small and micro enterprises through digital technology, reducing loan approval times to 30 minutes and increasing the first loan rate for small businesses to 45% [8]. - The bank's innovative products, such as "Flow Loan" and "Tobacco Merchant Loan," exemplify its commitment to inclusive finance [8]. Group 6: Digital Finance - The bank is actively integrating financial services into the digital transformation of small and medium enterprises, reducing their transition costs [9]. - Internally, Zhengzhou Bank is enhancing its digital capabilities by restructuring its top-level mechanisms and promoting technology integration across its operations [9].

Financial Performance - Operating income for the year was RMB 12.86 billion, a decrease of 5.90% compared to RMB 13.67 billion in the previous year[4] - Total profit amounted to RMB 1.77 billion, representing a year-on-year increase of 1.97%[5] - Net profit attributable to shareholders was RMB 1.87 billion, up by 0.88% from RMB 1.85 billion in the previous year[4] - Basic earnings per share remained stable at RMB 0.15[4] - Return on equity decreased by 0.10 percentage points to 3.19%[4] Assets and Liabilities - Total assets reached RMB 676.93 billion, an increase of 7.33% compared to the previous year[5] - Total deposits amounted to RMB 404.54 billion, growing by 12.07% year-on-year[5] - Total loans and advances reached RMB 387.69 billion, reflecting a growth of 7.51% from the previous year[5] Shareholder Equity - Equity attributable to shareholders increased to RMB 54.43 billion, a rise of 3.77% from the previous year[4] - Net assets per share for ordinary shareholders rose to RMB 4.89, an increase of 4.71%[4]

Financial Performance - Operating income for Q3 2024 was RMB 2,655,893 thousand, a decrease of 25.42% year-on-year[4] - Net profit attributable to shareholders for Q3 2024 was RMB 650,271 thousand, down 7.63% compared to the same period last year[4] - The net profit for the first nine months of 2024 was RMB 2,244,132 thousand, a decrease of 18.41% year-on-year[4] - The company reported a diluted earnings per share of RMB 0.07 for Q3 2024, down 12.50% from the previous year[4] - Operating income for the nine months ended September 30, 2024, was RMB 9,061,035, down 13.4% from RMB 10,464,658 in the same period of 2023[25] - Net profit for the nine months ended September 30, 2024, was RMB 2,288,964, a decrease of 19.6% compared to RMB 2,848,811 in the same period of 2023[25] - Net profit for the three months ended September 30, 2024, was RMB 639,852 thousand, down from RMB 734,328 thousand in the same period of 2023, reflecting a decrease of about 12.9%[27] - The company reported a decrease in commission income, with net commission income of RMB 349,854, down 20.9% from RMB 442,230 in the same period of 2023[25] Assets and Liabilities - Total assets as of September 30, 2024, reached RMB 666,626,085 thousand, an increase of 5.69% from the end of 2023[6] - Total liabilities as of September 30, 2024, were RMB 609,820,482 thousand, reflecting a 5.80% increase from the end of 2023[6] - The total amount of loans and advances increased by 6.41% to RMB 383,710,888 thousand compared to the end of 2023[6] - The total deposits reached RMB 396,909,399 thousand, a growth of 9.96% compared to the end of 2023[6] - The company's total assets as of September 30, 2024, amounted to RMB 666,626,085 thousand, an increase from RMB 630,709,429 thousand as of December 31, 2023, representing a growth of about 5.7%[29] - The total liabilities as of September 30, 2024, were RMB 609,820,482 thousand, up from RMB 576,394,573 thousand at the end of 2023, indicating an increase of approximately 5.8%[29] Equity and Capital Ratios - The weighted average return on equity (annualized) decreased by 0.68 percentage points to 5.82% in Q3 2024[4] - Net asset value per share increased to RMB 4.94, up 5.78% from RMB 4.67 at the end of 2023[6] - The capital adequacy ratio was 12.29%, maintaining a stable and reasonable level[18] - The core tier 1 capital adequacy ratio was 8.97%, slightly up from 8.90% at the end of 2023[11] - The liquidity coverage ratio was 199.11%, significantly above the regulatory requirement of 100%[10] Cash Flow - Operating cash flow before tax profit decreased to RMB 2,557,093 thousand from RMB 3,345,512 thousand, a decline of approximately 23.5% year-over-year[32] - Net cash flow from operating activities improved significantly to RMB 11,613,414 thousand compared to a negative cash flow of RMB 1,019,928 thousand in the previous year[33] - Net cash flow from investment activities was negative at RMB 5,521,555 thousand, worsening from a negative RMB 4,001,424 thousand in the same period last year[33] - Cash flow from financing activities showed a net outflow of RMB 8,067,981 thousand, contrasting with a net inflow of RMB 6,654,275 thousand in the previous year[33] - Total cash and cash equivalents decreased to RMB 10,030,682 thousand from RMB 12,151,348 thousand, reflecting a reduction of approximately 17.4%[33] - Interest received during the period was RMB 14,642,806 thousand, slightly down from RMB 15,097,962 thousand year-over-year[33] - Interest paid amounted to RMB 6,001,090 thousand, a decrease from RMB 6,910,657 thousand in the previous year[33] - The company reported a significant increase in net cash from financing activities due to bond issuance, totaling RMB 105,234,850 thousand[33] Shareholder Information - The total number of common shareholders at the end of the reporting period was 104,093, with 104,042 A-share shareholders and 51 H-share shareholders[19] - The top 10 common shareholders held a total of 3,000,000,000 shares, representing 33.33% of the total shares[20] - The top shareholder, Hong Kong Central Clearing (Agent), held 2,020,252,753 H-shares, accounting for 22.22% of total shares[19] - Zhengzhou Investment Holding Co., Ltd. held 608,105,180 A-shares, representing 6.69% of total shares, with 207,515,000 shares under pledge[19] - The company did not report any significant changes in the top shareholders or their participation in securities lending activities during the reporting period[22] Other Financial Metrics - The non-performing loan ratio stood at 1.86%, a decrease of 0.01 percentage points from the beginning of the year[18] - The provision coverage ratio was reported at 166.23%, indicating a strong buffer against potential loan losses[18] - The company recorded a net loss from financial investments of RMB 3,843,452 thousand, compared to a loss of RMB 4,054,440 thousand in the previous year[32] - The company achieved an operating income of RMB 9.06 billion and a net profit of RMB 2.29 billion during the reporting period[18] - For the nine months ended September 30, 2024, the total comprehensive income attributable to the company's shareholders was RMB 2,445,915 thousand, a decrease from RMB 2,877,861 thousand for the same period in 2023, representing a decline of approximately 15%[26] - The company reported a net fee and commission income of RMB 83,855 thousand for the three months ended September 30, 2024, compared to RMB 120,133 thousand for the same period in 2023, a decline of approximately 30.3%[27] - The fair value changes of equity instruments designated at fair value through other comprehensive income for the three months ended September 30, 2024, resulted in a loss of RMB 165,554 thousand, compared to a loss of RMB 51,911 thousand in the same period of 2023[28]

Financial Performance - Operating income for Q3 2024 was RMB 2,647,790 thousand, a decrease of 25.61% year-on-year[4] - Net profit attributable to shareholders for Q3 2024 was RMB 650,271 thousand, down 7.63% compared to the same period last year[4] - Basic earnings per share for Q3 2024 was RMB 0.07, a decrease of 12.50% year-on-year[5] - The total operating income for the group for the nine months ended September 30, 2024, was RMB 9,040,856 thousand, down from RMB 10,477,814 thousand in the same period of 2023, representing a decrease of approximately 13.7%[30] - The net profit attributable to the shareholders of Zhengzhou Bank for the nine months ended September 30, 2024, was RMB 2,244,132 thousand, compared to RMB 2,750,645 thousand for the same period in 2023, a decrease of about 18.4%[30] - The net profit attributable to shareholders for the nine months ended September 30, 2024, was RMB 2,445,915 thousand, a decrease from RMB 2,877,861 thousand for the same period in 2023, representing a decline of approximately 15%[31] Assets and Liabilities - Total assets as of September 30, 2024, reached RMB 666,626,085 thousand, an increase of 5.69% from the end of 2023[6] - Total liabilities as of September 30, 2024, amounted to RMB 609,820,482 thousand, reflecting a 5.80% increase year-on-year[6] - As of September 30, 2024, the total assets of the company reached RMB 666.63 billion, an increase of 5.69% compared to the beginning of the year[19] - The total amount of loans and advances issued was RMB 383.71 billion, reflecting a growth of 6.41% year-to-date[19] - The total deposits absorbed amounted to RMB 396.91 billion, representing a 9.96% increase since the start of the year[19] - As of September 30, 2024, the total liabilities of Zhengzhou Bank amounted to RMB 609,820,482 thousand, an increase from RMB 576,394,573 thousand as of December 31, 2023, representing a growth of approximately 5.5%[27] Income and Expenses - The group's interest income was RMB 17,115,688 thousand, down from RMB 18,830,673 thousand for the same period in 2023, reflecting a decrease of approximately 9.1%[29] - The net interest income for the group for the nine months ended September 30, 2024, was RMB 7,385,398 thousand, compared to RMB 9,017,585 thousand in the previous year, a decline of about 18.2%[29] - The net interest income for the three months ended September 30, 2024, was RMB 2,089,851 thousand, down from RMB 3,091,802 thousand in the same period of 2023, indicating a decrease of about 32%[32] - The total operating expenses for the three months ended September 30, 2024, were RMB 1,956,472 thousand, compared to RMB 2,740,661 thousand in the same period of 2023, reflecting a decrease of about 28.6%[32] Risk Management - The non-performing loan ratio stood at 1.86%, a decrease of 0.01 percentage points from the beginning of the year[19] - The provision coverage ratio was reported at 166.23%, indicating a robust risk management framework[19] - The capital adequacy ratio was 12.29%, maintaining a stable and reasonable level[19] - The core tier one capital adequacy ratio was 8.97%, slightly up from 8.90% at the end of 2023[13] Cash Flow - The total cash inflow from operating activities for the group was RMB 68,503,194 thousand, compared to RMB 55,484,526 thousand in the previous year, indicating an increase of about 23.4%[36] - The net cash flow from operating activities was RMB 11,613,414 thousand, compared to RMB 11,268,546 thousand in the previous year, showing a slight increase of approximately 3.1%[36] - The net cash flow from investing activities was negative at RMB 5,521,555 thousand, an increase in outflow compared to RMB 4,001,424 thousand last year[37] - The net cash flow from financing activities was negative at RMB 8,067,981 thousand, contrasting with a positive cash flow of RMB 6,654,275 thousand in the same period last year[38] Shareholder Information - The top shareholder, Hong Kong Central Clearing (Agent) Co., Ltd., holds 2,020,252,753 H shares, representing 22.22% of the total shares[22] - Zhengzhou Investment Holding Co., Ltd. holds 608,105,180 A shares, accounting for 6.69% of the total shares, with a portion pledged[22] - No significant changes were reported among the top 10 shareholders in terms of share lending or borrowing activities during the reporting period[23]

Financial Performance - Operating income for the first half of 2024 was RMB 6,405,142 thousand, a decrease of 7.22% compared to RMB 6,903,597 thousand in the same period of 2023 [11]. - Total profit for the first half of 2024 was RMB 1,869,575 thousand, down 26.02% from RMB 2,526,990 thousand in the first half of 2023 [11]. - Net profit attributable to shareholders for the first half of 2024 was RMB 1,593,861 thousand, a decline of 22.12% compared to RMB 2,046,633 thousand in the same period of 2023 [11]. - Basic earnings per share for the first half of 2024 were RMB 0.18, down 21.74% from RMB 0.23 in the same period of 2023 [11]. - The company achieved operating income of RMB 6.405 billion, a year-on-year decrease of 7.22% [27]. - Net profit for the period was RMB 1.649 billion, down 22.01% compared to the previous year [27]. - The company reported a significant decrease in pre-tax profit of RMB 657 million, down 26.02% from the previous year [28]. Assets and Liabilities - Total assets as of June 30, 2024, reached RMB 645,680,374 thousand, reflecting a 2.37% increase from RMB 630,709,429 thousand at the end of 2023 [12]. - Total liabilities as of June 30, 2024, were RMB 589,356,033 thousand, up 2.25% from RMB 576,394,573 thousand at the end of 2023 [12]. - Total deposits (excluding accrued interest) reached RMB 386,360,381 thousand, a growth of 7.04% compared to RMB 360,961,439 thousand at the end of 2023 [12]. - The bank's total liabilities amounted to RMB 589.36 billion, reflecting an increase of RMB 12.96 billion or 2.25% compared to the end of the previous year [68]. - The bank's total assets amounted to RMB 645.68 billion, an increase of RMB 14.97 billion, reflecting a growth rate of 2.37% from the end of the previous year [55]. Capital and Ratios - As of June 30, 2024, the core tier 1 capital adequacy ratio increased to 9.26%, up from 8.90% at the end of 2023, reflecting a 0.36% improvement [13]. - The total capital ratio improved to 12.68% as of June 30, 2024, up from 12.38% at the end of 2023 [112]. - The bank's leverage ratio stood at 7.50% as of June 30, 2024, slightly down from 7.60% at the end of 2023 [113]. - The liquidity coverage ratio decreased to 207.98% as of June 30, 2024, down from 265.83% at the end of 2023, a decline of 57.85% [14]. - The liquidity ratio is 74.83%, exceeding the regulatory requirement of at least 25% [135]. - The net stable funding ratio is 114.63%, also above the regulatory threshold of 100% [135]. Risk Management - The bank has not identified any significant risks that could adversely affect its future development strategy and operational goals during the reporting period [4]. - The provision coverage ratio improved significantly to 191.47% from 174.87% at the end of 2023, indicating a 16.60% increase [13]. - The bank has established a comprehensive reputation risk management system, enhancing risk assessment and monitoring mechanisms [137]. - The bank has strengthened risk management capabilities, continuously improving the comprehensive risk management system [131]. - The bank's operational risk management framework has been improved with new standards for risk measurement and management [134]. Loans and Advances - Total loans and advances (excluding accrued interest) amounted to RMB 372,827,943 thousand, an increase of 3.39% from RMB 360,608,206 thousand at the end of 2023 [12]. - The total amount of loans and advances is RMB 372,827,943 thousand, with 95.88% classified as normal loans as of June 30, 2024 [77]. - The bank's credit loans amounted to RMB 73.09 billion, with an NPL ratio of 1.31%, while guaranteed loans totaled RMB 165.56 billion with an NPL ratio of 1.74% [82]. - The overdue loans totaled RMB 17.32 billion, representing 4.65% of total loans, an increase of RMB 2.5 billion or 16.87% from the previous year [86]. - The bank's agricultural loan balance reached RMB 83.295 billion, an increase of RMB 1.056 billion or 1.28% compared to the end of the previous year [140]. Income and Expenses - Interest income decreased by RMB 630 million, a decline of 10.64%, accounting for 82.68% of total operating income [29]. - Interest expenses for the period totaled RMB 6.48 billion, an increase of RMB 10 million or 0.16% year-on-year, influenced by changes in liability scale and interest costs [40]. - The total income tax expense for the reporting period was RMB 220.46 million, a decrease of RMB 192.04 million, representing a decline of 46.56% compared to the same period last year [54]. - Operating expenses totaled RMB 1.66 billion, up RMB 141 million or 9.26% year-over-year [48]. - The bank's net interest margin decreased to 1.70%, down 0.36 percentage points year-on-year, while the net interest yield fell to 1.80%, a decrease of 0.33 percentage points compared to the previous year [34]. Corporate Governance - The company has established a comprehensive corporate governance structure, ensuring compliance with relevant laws and regulations [192]. - The company held its 2023 Annual General Meeting on June 27, 2024, with a participation rate of 40.60% [193]. - The board of directors confirmed that no cash dividends or bonus shares will be distributed for the first half of 2024 [4]. - The company has a total of 52,470 shares held by the deputy president, with no changes during the reporting period [171]. - The company has adopted a securities trading code of conduct for directors and supervisors, ensuring compliance with relevant regulations [176]. Employee and Workforce - As of the reporting period, the company had a total of 5,822 employees, with 5,258 in the main bank and 564 in subsidiaries [180]. - The largest employee group is in retail banking, comprising 1,874 employees, which accounts for 32.19% of the total workforce [181]. - The employee age distribution shows that 3,583 employees are aged between 31 and 40, making up 61.61% of the workforce [182]. - The bank's compensation policy emphasizes fairness, competitiveness, and incentivization, with a focus on performance-based pay to motivate employees [185]. - The bank has established a comprehensive training system to enhance the overall capabilities and innovation skills of its employees, aligning with the provincial government's goal of building a first-class urban commercial bank [184]. Strategic Initiatives - The bank is focused on supporting local economic development and small and medium-sized enterprises, aligning with national and regional strategic initiatives [114]. - The bank aims to enhance financial services for rural revitalization, with 4,947 new merchant service points established in rural areas [141]. - The bank plans to focus on five key areas: technology finance, green finance, inclusive finance, pension finance, and digital finance to support business development [142]. - The bank has actively implemented the national rural revitalization strategy, enhancing rural financial service channels and experiences [124]. - The bank is committed to supporting the stable and healthy development of the real estate market and local industry clusters [142].

Financial Performance - Bank of Zhengzhou Co., Ltd. reported its unaudited consolidated interim results for the six months ended June 30, 2024[1]. - Operating income for the first half of 2024 was RMB 6,405,142 thousand, a decrease of 7.22% compared to RMB 6,903,597 thousand in the same period of 2023[11]. - Total profit for the first half of 2024 was RMB 1,869,575 thousand, down 26.02% from RMB 2,526,990 thousand in the first half of 2023[11]. - Net profit attributable to shareholders for the first half of 2024 was RMB 1,593,861 thousand, a decline of 22.12% compared to RMB 2,046,633 thousand in the same period of 2023[11]. - Basic earnings per share for the first half of 2024 were RMB 0.18, down 21.74% from RMB 0.23 in the same period of 2023[11]. - The company will not distribute cash dividends or bonus shares for the first half of 2024[4]. Assets and Liabilities - The total assets as of June 30, 2024, reached RMB 645,680,374 thousand, reflecting a growth of 2.37% from RMB 630,709,429 thousand at the end of 2023[12]. - Total liabilities as of June 30, 2024, were RMB 589,356,033 thousand, up 2.25% from RMB 576,394,573 thousand at the end of 2023[12]. - Total deposits (excluding accrued interest) reached RMB 386,360,381 thousand, a rise of 7.04% from RMB 360,961,439 thousand at the end of 2023[12]. - Total loans and advances (excluding accrued interest) amounted to RMB 372,827,943 thousand, an increase of 3.39% from RMB 360,608,206 thousand at the end of 2023[12]. Capital and Ratios - As of June 30, 2024, the Core Tier 1 Capital Ratio increased to 9.26%, up from 8.90% at the end of 2023, reflecting a change of 0.36%[13]. - The total capital net amount as of June 30, 2024, was RMB 60,260,538 thousand, reflecting a growth of 6.90% from RMB 56,372,605 thousand at the end of 2023[12]. - The total capital adequacy ratio improved to 12.68% as of June 30, 2024, up from 12.38% at the end of 2023[112]. - The bank's leverage ratio stood at 7.50% as of June 30, 2024, slightly down from 7.60% at the end of 2023[113]. Risk Management - The board confirmed that there are no significant risks affecting the company's future development strategy and operational goals[4]. - The Non-Performing Loan Ratio remained stable at 1.87% as of June 30, 2024, compared to 1.88% at the end of 2022[13]. - The Provision Coverage Ratio improved to 191.47% as of June 30, 2024, an increase of 16.60% from 174.87% at the end of 2023[13]. - The bank continues to enhance credit risk management and accelerate the disposal of non-performing assets[76]. Economic Context - The total asset growth rate for the first half of 2024 was supported by a GDP growth of 5.0% in China, with industrial production increasing by 6.0%[18]. - In the first half of 2024, the GDP of Henan Province grew by 4.9% year-on-year, with the primary, secondary, and tertiary industries growing by 3.7%, 7.5%, and 3.2% respectively[19]. Employee and Governance - The company has a total of 52,470 shares held by the deputy president, with no changes during the reporting period[171]. - The company has established a comprehensive training system to enhance the overall capabilities and innovation skills of its employees, aligning with the provincial government's goal of building a first-class urban commercial bank[184]. - The company confirmed that all directors and supervisors complied with the securities trading code during the reporting period[176]. - The current board and supervisory committee's term has been extended to ensure continuity during the upcoming election process[168]. Shareholder Information - The total number of shareholders for ordinary shares at the end of the reporting period is 99,412, with 99,361 A-share shareholders and 51 H-share shareholders[148]. - The largest shareholder, Hong Kong Central Clearing (Agent), holds 2,020,252,753 H-shares, representing 22.22% of the total shares[149]. - The report confirms that there were no changes in the shareholding structure of the top 10 shareholders compared to the previous period[155]. Financial Products and Services - The bank's wealth management products ecosystem has been diversified, with the "Zhenghao Wealth" series continuously improving and expanding categories such as cash management and stable investment, achieving a comprehensive product matrix[123]. - The bank has launched customized financial products for elderly clients, addressing their retirement planning needs[123]. - The bank aims to enhance financial services for rural residents by increasing the number of rural financial service points to 4,947[141].

Financial Performance - The bank reported a total revenue of RMB 1.2 billion for the first half of 2024, representing a year-on-year increase of 15%[31]. - Net profit attributable to shareholders reached RMB 400 million, up 10% compared to the same period last year[31]. - The total operating revenue for the first half of 2024 was RMB 6,393,066 thousand, a decrease of 7.59% compared to RMB 6,918,370 thousand in the same period of 2023[33]. - The net profit attributable to shareholders for the first half of 2024 was RMB 1,593,861 thousand, down 22.12% from RMB 2,046,633 thousand in the first half of 2023[33]. - The bank's total profit decreased by RMB 657 million, a drop of 26.02% compared to the previous year[53]. - The bank's basic earnings per share for the first half of 2024 was RMB 0.18, a decrease of 21.74% from RMB 0.23 in the same period of 2023[33]. - Net profit for the period was RMB 1.649 billion, down 22.01% compared to the previous year[53]. Asset and Liability Management - The bank's total assets increased to RMB 150 billion, reflecting a growth of 12% year-on-year[31]. - The total assets as of June 30, 2024, reached RMB 645,680,374 thousand, reflecting a 2.37% increase from RMB 630,709,429 thousand at the end of 2023[34]. - The total liabilities reached RMB 589,356,033 thousand, reflecting an increase of RMB 129,610 thousand, or 2.25%, compared to the previous year[96]. - The bank's total equity reached RMB 56,324,341 thousand, an increase of RMB 20,090 thousand, or 3.70%, from RMB 54,314,856 thousand at the end of the previous year[100]. - The total amount of loans and advances (excluding accrued interest) amounted to RMB 372,827,943 thousand, a 3.39% increase from RMB 360,608,206 thousand at the end of 2023[34]. Loan and Deposit Growth - Customer deposits grew by 18% to RMB 120 billion, indicating strong customer confidence and market position[31]. - The bank's loans to small and micro enterprises reached RMB 78 trillion, with inclusive small and micro enterprise loans growing by 17.1% year-on-year[43]. - Personal deposits totaled RMB 199.54 billion, an increase of 18.32% year-on-year, while personal loans grew to RMB 86.40 billion, up 2.68%[148]. - The total amount of loans reached RMB 372.83 billion, with RMB 355.50 billion in current loans, representing 95.35% of the total[115]. Risk Management - The non-performing loan ratio improved to 1.5%, down from 1.8% in the previous year, showcasing better asset quality management[31]. - The non-performing loan ratio remained stable at 1.87% as of June 30, 2024, unchanged from the end of 2023[35]. - The bank emphasizes compliance and risk management, aiming to strengthen internal controls and ensure stable operations[47]. - The bank's non-performing loan ratio was not explicitly stated but indicated by the overdue loan statistics[115]. - The bank's credit impairment losses totaled RMB 2.861 billion, a decrease of RMB 17 million or 0.58% year-on-year[79]. Investment and Technology - Investment in technology and digital banking solutions increased by 25%, focusing on improving customer experience and operational efficiency[31]. - The bank plans to continue expanding its corporate loan portfolio while maintaining a focus on risk control and asset quality[87]. - The bank plans to focus on five key areas: technology finance, green finance, inclusive finance, pension finance, and digital finance to drive strategic transformation[171]. - The bank will continue to increase investment in technology to enhance financial service efficiency and customer experience[171]. Shareholder Information - As of June 30, 2024, the total number of ordinary shares issued by the company is 9,092,091,358, consisting of 7,071,633,358 A-shares and 2,020,458,000 H-shares[174]. - The largest shareholder, Hong Kong Central Clearing (Agency) Limited, holds 2,020,252,753 H-shares, representing 22.22% of the total shares[181]. - The company did not conduct any share buybacks during the reporting period[174]. - The report confirms that all data is sourced from the shareholder register as of June 30, 2024[182]. Operational Efficiency - The bank's net cash flow from operating activities for the first half of 2024 was negative at RMB (4,404,722) thousand, compared to RMB (467,243) thousand in the same period of 2023, indicating a significant increase in cash outflow[33]. - The bank's average balance of loans and advances increased by RMB 229.19 billion year-on-year, with interest income from loans totaling RMB 7.73 billion, down RMB 0.57 billion or 6.82% from the previous year[61]. - The bank's average balance of interest-earning assets increased to RMB 589.20 billion, with total interest income of RMB 11.78 billion, down from RMB 12.40 billion in the previous year[57]. Regulatory Compliance - The bank's liquidity coverage ratio as of June 30, 2024, was 207.98%, down from 265.83% at the end of 2023, indicating a decrease in liquidity[36]. - The liquidity ratio of Zhengzhou Bank is 74.83%, exceeding the regulatory requirement of no less than 25%[163]. - The net stable funding ratio is 114.63%, also meeting the regulatory threshold of 100%[163]. Community and Economic Support - The bank is focused on supporting local economic development and small and medium-sized enterprises, aligning with national and regional strategic initiatives[141]. - The bank actively promoted rural financial services, enhancing service channels and improving the financial experience for rural residents[153]. - The bank aims to enhance its service to the real economy and support the development of seven major industrial clusters and the stable health of the real estate market[171].

Financial Performance - Operating income for Q1 2024 was RMB 3,400,099 thousand, an increase of 2.47% compared to RMB 3,318,262 thousand in Q1 2023[3] - Net profit attributable to shareholders for Q1 2024 was RMB 967,445 thousand, a decrease of 18.57% from RMB 1,188,068 thousand in Q1 2023[3] - Basic earnings per share for Q1 2024 was RMB 0.11, down 15.38% from RMB 0.13 in Q1 2023[3] - The group's net profit for Q1 2024 was RMB 991,224 thousand, down 20.1% from RMB 1,239,919 thousand in Q1 2023[34] - Net interest income for the group was RMB 2,856,050 thousand for the first quarter of 2024, a decrease of 3.0% from RMB 2,945,535 thousand in the same period of 2023[32] - The total comprehensive income for the group reached RMB 1,283,968 thousand, an increase from RMB 1,241,778 thousand in the same period last year, representing a growth of approximately 3.4%[36] - The total comprehensive income attributable to shareholders of the bank was RMB 1,260,189 thousand, up from RMB 1,189,927 thousand in the previous year, representing an increase of approximately 5.9%[36] Asset and Liability Management - Total assets as of March 31, 2024, were RMB 632,851,641 thousand, a slight increase of 0.34% from RMB 630,709,429 thousand at the end of 2023[5] - The bank's total liabilities as of March 31, 2024, were RMB 596,560,834 thousand, compared to RMB 594,678,540 thousand at the end of 2023[26] - The group's total assets reached RMB 632,851,641 thousand as of March 31, 2024, compared to RMB 630,709,429 thousand at the end of 2023, showing a marginal increase of 0.18%[30] - The group's total liabilities as of March 31, 2024, amounted to RMB 577,252,817 thousand, a slight increase from RMB 576,394,573 thousand as of December 31, 2023, representing a growth of 0.15%[28] Capital Adequacy and Risk Management - The capital adequacy ratio was 11.85% as of March 31, 2024, down from 12.38% at the end of 2023[9] - Core Tier 1 capital increased to CNY 42,803,946 thousand, up from CNY 40,526,517 thousand at the end of 2023, reflecting a growth of 5.62%[11] - The non-performing loan ratio remained stable at 1.87% as of March 31, 2024, unchanged from the end of 2023[9] - The bank's non-performing loan ratio remained stable, reflecting effective risk management strategies[24] Income and Expense Analysis - Net commission and fee income decreased by 31.62% year-on-year to CNY 110,412 thousand due to reduced agency and custody business scale[15] - Investment income rose by 39.23% year-on-year to CNY 285,709 thousand, driven by changes in trading bond investment returns[15] - The group's credit impairment losses increased to RMB 1,589,571 thousand in Q1 2024, compared to RMB 1,131,115 thousand in Q1 2023, reflecting a rise of 40.5%[32] - The group reported a decrease in commission income to RMB 143,610 thousand in Q1 2024, down 25.6% from RMB 192,919 thousand in Q1 2023[32] Cash Flow and Liquidity - Net cash flow from operating activities was RMB (102,343) thousand, improving by 85.06% from RMB (685,074) thousand in Q1 2023[3] - The liquidity coverage ratio stood at 182.53%, indicating strong liquidity position[13] - The net cash inflow from operating activities totaled RMB 22,661,715 thousand, down from RMB 32,233,294 thousand year-on-year, reflecting a decline of approximately 29.9%[38] - The net cash outflow from investment activities was RMB 3,534,432 thousand, compared to RMB 3,084,685 thousand in the same period last year, showing an increase of about 14.5%[42] - The net cash inflow from financing activities was RMB 294,666 thousand, a decrease of 91.05% compared to RMB 3,289,500 thousand in the same period last year[44] Shareholder Information - The number of ordinary shareholders reached 98,668, with 98,617 being A-share shareholders[19] - The bank did not report any significant changes in the shareholding structure among the top 10 shareholders during the reporting period[23] - The bank's major shareholders include Zhengzhou Investment Holding Co., Ltd., which holds 6.69% of A shares[22] Operational Highlights - The bank signed contracts with 554 community service points, enhancing customer engagement and service delivery[17] - No new products or technologies were announced during the reporting period, focusing instead on consolidating existing operations[24]

Financial Performance - For Q1 2024, the net profit attributable to shareholders was RMB 967,445,000, a decrease of 18.57% compared to RMB 1,188,068,000 in Q1 2023[3] - Operating income for Q1 2024 was RMB 3,407,584,000, representing a 3.43% increase from RMB 3,294,537,000 in the same period last year[3] - The net profit for the three months ended March 31, 2024, was RMB 991,224 thousand, a decrease from RMB 1,239,919 thousand in the same period of 2023, representing a decline of approximately 20.1%[23] - The company's operating profit for the first quarter of 2024 was RMB 1,154,993 thousand, down from RMB 1,493,968 thousand in the previous year, representing a decline of about 22.7%[23] - Total comprehensive income for the three months ended March 31, 2024, was RMB 1,283,968 thousand, slightly up from RMB 1,241,778 thousand in the same period last year, marking an increase of about 3.4%[24] - The net interest income for the first quarter of 2024 was RMB 2,856,050 thousand, compared to RMB 2,945,535 thousand in the previous year, indicating a decrease of approximately 3.0%[23] - The company reported a total interest income of RMB 6,081,712 thousand for the first quarter of 2024, compared to RMB 6,152,198 thousand in the same period of 2023, reflecting a decrease of approximately 1.2%[23] Asset and Liability Management - Total assets as of March 31, 2024, were RMB 632,851,641,000, reflecting a 0.34% increase from RMB 630,709,429,000 at the end of 2023[5] - The total amount of loans and advances was RMB 364,889,260,000, up by 1.19% from RMB 360,608,206,000 at the end of 2023[5] - The company's cash and cash equivalents decreased to RMB 24,032,893 thousand from RMB 26,369,865 thousand, representing a decline of approximately 8.8%[25] - Total liabilities increased marginally to RMB 577,252,817 thousand from RMB 576,394,573 thousand, indicating a growth of about 0.15%[26] - Shareholders' equity rose to RMB 55,598,824 thousand from RMB 54,314,856 thousand, reflecting an increase of approximately 2.36%[27] - The company's total loans and advances increased to RMB 353,111,796 thousand from RMB 350,325,297 thousand, marking a growth of approximately 0.8%[25] Cash Flow Analysis - The net cash flow from operating activities was RMB (102,343,000), a significant improvement of 85.06% from RMB (685,074,000) in Q1 2023[3] - The net cash flow from operating activities for the three months ended March 31, 2024, was RMB 1,974,726 thousand, compared to RMB 1,949,540 thousand for the same period in 2023, showing a slight increase of 1.3%[28] - Investment activities resulted in a net cash outflow of RMB 3,534,432 thousand for the three months ended March 31, 2024, compared to RMB 3,084,685 thousand in the same period of 2023[32] - The net cash flow from financing activities was RMB 294,666 thousand, a significant decrease from RMB 3,289,500 thousand in the previous year[32] Capital Adequacy and Ratios - The core tier 1 capital adequacy ratio was 8.54%, down from 8.90% at the end of 2023, but still above the regulatory requirement of 7.5%[8] - The capital adequacy ratio decreased to 11.85% as of March 31, 2024, compared to 12.38% at the end of 2023[10] - The leverage ratio was reported at 7.52% as of March 31, 2024, slightly down from 7.60% at the end of 2023[11] - The liquidity coverage ratio was 182.53%, significantly above the regulatory requirement of 100%[8] - The liquidity coverage ratio stood at 182.53% as of March 31, 2024, indicating strong liquidity management[12] Income Sources - The net income from fees and commissions dropped by 31.62% year-on-year to RMB 110,412 thousand, primarily due to a decrease in agency and custody business scale[14] - Trading net income surged by 240.28% year-on-year to RMB 152,236 thousand, driven by fair value changes in financial assets[14] - Investment net income rose by 87.66% year-on-year to RMB 244,512 thousand, attributed to increased returns from trading bonds[14] Customer Engagement and Services - The bank signed contracts with 554 community service points and established presence in 357 locations, enhancing customer service channels[16] - The balance of policy-oriented science and technology financial loans increased by 7.94% since the beginning of the year, supporting innovation-driven development[16] Shareholder Information - The company has not engaged in any share repurchase transactions during the reporting period[21] - There were no significant changes in the top ten shareholders or their shareholding status compared to the previous period[21]

Financial Performance - Operating revenue for 2023 was RMB 13,699,410 thousand, a decrease of 10.03% compared to RMB 15,225,843 thousand in 2022[24]. - Total profit for 2023 was RMB 1,739,636 thousand, down 38.03% from RMB 2,807,230 thousand in the previous year[24]. - Net profit attributable to shareholders for 2023 was RMB 1,850,117 thousand, representing a decline of 23.62% from RMB 2,422,304 thousand in 2022[24]. - Net cash flow from operating activities for 2023 was RMB 1,648,102 thousand, a significant improvement from a negative cash flow of RMB 31,350,017 thousand in 2022[24]. - Total assets at the end of 2023 reached RMB 630,709,429 thousand, an increase of 6.63% from RMB 591,513,618 thousand at the end of 2022[24]. - Total liabilities at the end of 2023 were RMB 576,394,573 thousand, up 6.96% from RMB 538,888,382 thousand in 2022[24]. - The total amount of loans and advances issued (excluding accrued interest) was RMB 360,608,206 thousand, an increase of 8.97% from RMB 330,921,097 thousand in 2022[24]. - Basic earnings per share for 2023 were RMB 0.15, a decrease of 6.25% from RMB 0.16 in 2022[24]. - The total equity attributable to shareholders at the end of 2023 was RMB 52,452,824 thousand, a 3.31% increase from RMB 50,772,566 thousand in 2022[24]. Risk Management - The company did not identify any significant risks that would adversely affect its future development strategy and operational goals during the reporting period[7]. - The report includes a detailed description of the main risks faced by the company and the measures taken to address them, found in the "Management Discussion and Analysis" section[7]. - The company is enhancing its digital risk control capabilities and optimizing corporate governance to improve operational management[15]. - The company emphasizes the importance of party leadership in financial work to ensure effective governance and operational efficiency[15]. - The company is committed to enhancing compliance management and risk control, aiming for stable and healthy business development[49]. Strategic Initiatives - The company is committed to high-quality development strategies, focusing on stability and progress, and aims to contribute to the modernization of Zhengzhou as a national central city[18]. - The company is actively participating in the "Rural Revitalization" initiative by establishing rural financial service points and promoting financial literacy in rural areas[18]. - The company is focusing on the integration of financial resources into key social development areas and addressing societal challenges through various initiatives[16]. - The company aims to strengthen the integration of talent, technology, capital, and industry chains to enhance its operational mechanisms[16]. - The company implemented a differentiated interest rate pricing mechanism to support local industries, reducing project fees and promoting interest-free renewals[16]. Subsidiaries and Investments - The company operates several subsidiaries, including Henan Jiuding Financial Leasing Co., Ltd., and various village banks[7]. - The bank's subsidiary, Jiuding Financial Leasing Company, reported total assets of RMB 35,010,000,000 and net profit of RMB 350,000,000 for the reporting period[161]. - The bank's investment in Zhongmou Zhengyin Village Bank increased its shareholding from 18.53% to 49.51% after acquiring shares from 78 shareholders[158]. - The company holds 49.51% of Zhongmu Zhengyin Village Bank and 49.58% of Yanling Zhengyin Village Bank, focusing on supporting agriculture and small enterprises[170]. Loan and Deposit Activities - A total of 16,579 microfinance loans were granted interest reductions amounting to RMB 23.34 million during the year[18]. - The bank's total deposits amounted to RMB 360.961 billion, growing by 6.89% year-on-year[41]. - Loans and advances totaled RMB 360.608 billion, reflecting an 8.97% increase from the previous year[41]. - Personal deposits reached RMB 168.643 billion, an increase of 19.55% year-on-year, while personal loans grew to RMB 84.147 billion, up 3.48%[196]. - The bank provided supply chain financial services with a loan balance of RMB 22.668 billion to core enterprises and their upstream and downstream customers by the end of the reporting period[191]. Financial Ratios and Metrics - Core Tier 1 capital adequacy ratio decreased to 8.90% in 2023 from 9.29% in 2022, a decline of 0.39 percentage points[25]. - Non-performing loan ratio slightly improved to 1.87% in 2023 from 1.88% in 2022, a decrease of 0.01 percentage points[25]. - Provision coverage ratio increased to 174.87% in 2023 from 165.73% in 2022, an increase of 9.14 percentage points[25]. - Weighted average return on equity decreased to 3.29% in 2023 from 3.53% in 2022, a decline of 0.24 percentage points[25]. - Total assets return decreased to 0.30% in 2023 from 0.45% in 2022, a decline of 0.15 percentage points[25]. Compliance and Governance - The company emphasizes strengthening risk management and compliance to ensure stable development of its subsidiaries[174]. - The capital management goals include meeting regulatory requirements and ensuring capital levels align with risk management[175]. - The company conducts regular stress tests to assess capital adequacy under adverse conditions[178]. - The capital adequacy ratio is calculated based on the regulations set by the former China Banking and Insurance Regulatory Commission[180]. Awards and Recognition - The company has been recognized with multiple awards in 2023, including the "Best Social Responsibility Bank" by the Financial Times[52].