Financial Performance - For the third quarter of 2023, the operating income was RMB 3,561,061,000, a decrease of 16.38% compared to the same period last year[3] - The net profit attributable to shareholders was RMB 704,012,000, down 19.30% year-on-year[3] - The basic earnings per share for the third quarter was RMB 0.08, a decrease of 20.00% compared to the same period last year[3] - Net interest income for the nine months ended September 30, 2023, was RMB 9,017,585, a decrease of 4.6% compared to RMB 9,455,463 for the same period in 2022[26] - Total operating income for the nine months ended September 30, 2023, was RMB 10,464,658, down 11.5% from RMB 11,822,857 in the previous year[26] - Net profit attributable to shareholders for the nine months ended September 30, 2023, was RMB 2,750,645, a decline of 19.2% from RMB 3,403,445 in the same period of 2022[28] - The company reported a net profit of RMB 734,328 for the three months ended September 30, 2023, down 19.4% from RMB 911,606 for the same period in 2022[31] - The total comprehensive income for the three months ended September 30, 2023, was RMB 687,690, a decrease of 31.9% compared to RMB 1,010,779 in the previous year[31] - The company’s net profit for the nine months ended September 30, 2023, was RMB 2,848,811, a decrease of 19.6% from RMB 3,543,822 in the same period of 2022[28] - The company reported a pre-tax profit of RMB 3,345,512 thousand for the nine months ended September 30, 2023, down from RMB 4,355,769 thousand in the same period of 2022, indicating a decline of about 23.2%[35] Cash Flow and Liquidity - The net cash flow from operating activities was RMB (552,685,000), a significant decline of 88.02% compared to the previous year[3] - The net cash flow from operating activities for the nine months ended September 30, 2023, was a negative RMB 1,019,928 thousand, compared to a negative RMB 22,743,754 thousand for the same period in 2022, indicating a significant improvement[36] - The net cash flow from investment activities for the nine months ended September 30, 2023, was negative RMB 4,001,424 thousand, down from a positive RMB 20,897,096 thousand in 2022, reflecting a substantial decrease in investment returns[38] - The net cash flow from financing activities for the nine months ended September 30, 2023, was RMB 6,654,275 thousand, compared to a negative RMB 4,008,102 thousand in 2022, showing a positive shift in financing operations[38] - The net increase in cash and cash equivalents as of September 30, 2023, was RMB 1,632,923 thousand, compared to a decrease of RMB 5,854,760 thousand in the same period of 2022, indicating a recovery in liquidity[38] Assets and Liabilities - Total assets as of September 30, 2023, reached RMB 622,051,831,000, reflecting a growth of 5.16% from the end of 2022[5] - The total liabilities were RMB 566,450,568,000, which is a 5.11% increase from December 31, 2022[5] - The company’s total liabilities as of September 30, 2023, were RMB 566,450,568, an increase from RMB 538,888,382 at the end of 2022[32] - Total liabilities and equity increased to RMB 622,051,831 thousand as of September 30, 2023, from RMB 591,513,618 thousand as of December 31, 2022, marking an increase of approximately 5.18%[34] Capital Ratios - As of September 30, 2023, the Core Tier 1 Capital Ratio is 9.68%, up from 9.29% at the end of 2022[8] - The Tier 1 Capital Ratio stands at 11.99%, an increase from 11.63% at the end of 2022[10] - The Capital Adequacy Ratio is 13.05%, compared to 12.72% at the end of 2022[10] Shareholder Information - The total number of ordinary shareholders reached 99,773, with 99,723 being A-share shareholders[19] - The largest shareholder, Hong Kong Central Clearing (Agent), holds 2,020,253,053 H shares, accounting for 22.22% of total shares[20] - Zhengzhou Finance Bureau holds 657,246,311 A shares, representing 7.23% of total shares, with 93,278,900 shares pledged[20] - Zhengzhou Investment Holding Co., Ltd. holds 608,105,180 A shares, with 207,515,000 shares under pledge[20] Investment and Financing Activities - The company approved project funding of RMB 8.6 billion and has disbursed RMB 4.2 billion to support the "guarantee housing" initiative[18] - The company visited and researched 1,849 enterprises, resulting in a total of RMB 53.9 billion in new or renewed financing[18] - The balance of green credit increased by 46% compared to the beginning of the year[18] - The company customized over 10 financial products for technology innovation, with policy-based innovation financial loans increasing by 23% year-to-date[18] Other Financial Metrics - The weighted average return on equity (annualized) was 6.50%, down 1.60 percentage points year-on-year[3] - The Cost-to-Income Ratio improved to 21.31% from 22.98% in the previous year[8] - The total net profit from investments increased by 78.82% year-on-year, reaching RMB 338,807 thousand[15] - The total amount of loans classified as "normal" increased to RMB 339,352,427 thousand, representing 95.95% of total loans[14] - The Non-Performing Loan Ratio is 1.88%, unchanged from the end of 2022[9] - The liquidity coverage ratio is 225.04%, down from 300.13% at the end of 2022[8] - The leverage ratio is reported at 7.75%, slightly up from 7.69% at the end of 2022[11] - The total assets yield (annualized) is 0.63%, an increase from 0.45% in the previous year[8] - Interest income from financial investments decreased to RMB 4,054,440 thousand for the nine months ended September 30, 2023, compared to RMB 4,657,724 thousand in 2022, reflecting a decline of approximately 12.93%[35] Reporting and Disclosure - The company has not disclosed any other significant matters outside of this report and other announcements[25] - The quarterly report is available on the Hong Kong Stock Exchange and the company's website[25]

Financial Performance - Operating income for the first half of 2023 was RMB 6,903,597 thousand, a decrease of 8.74% compared to RMB 7,564,388 thousand in the same period of 2022[16]. - Total profit for the first half of 2023 was RMB 2,526,990 thousand, down 22.14% from RMB 3,245,690 thousand in the previous year[16]. - Net profit attributable to shareholders for the first half of 2023 was RMB 2,046,633 thousand, a decline of 19.14% compared to RMB 2,531,066 thousand in the same period of 2022[16]. - Total operating income decreased to RMB 6.90 billion, a decline of 8.74% from the previous year[37]. - The company achieved a net profit of RMB 2.11 billion, a decrease of 19.67% compared to the previous year[36]. - Net interest income was RMB 5.93 billion, down 5.12% year-on-year, accounting for 85.84% of total operating income[38]. - Non-interest income fell to RMB 977.81 million, a significant drop of 25.85% year-on-year[37]. - The average yield on interest-earning assets decreased to 4.46%, while the average cost of interest-bearing liabilities was 2.40%[39]. - The net interest margin (annualized) was recorded at 2.06%[39]. - The weighted average return on equity (annualized) decreased to 9.77%, down by 2.50% from 12.27% in the previous year[17]. Assets and Liabilities - Total assets as of June 30, 2023, reached RMB 616,859,397 thousand, an increase of 4.28% from RMB 591,513,618 thousand at the end of 2022[16]. - Total liabilities as of June 30, 2023, were RMB 561,945,824 thousand, up 4.28% from RMB 538,888,382 thousand at the end of 2022[16]. - Total loans and advances (excluding accrued interest) amounted to RMB 351,144,063 thousand, reflecting a growth of 6.11% from RMB 330,921,097 thousand in the previous year[16]. - Total deposits (excluding accrued interest) reached RMB 353,415,379 thousand, an increase of 4.65% compared to RMB 337,708,162 thousand in the previous year[16]. - The total amount of debt investments reached RMB 189.74 billion, an increase from RMB 184.07 billion at the end of 2022, representing a growth of 4.54%[78]. - The bank's total liabilities amounted to RMB 561.95 billion, an increase of RMB 23.06 billion or 4.28% compared to the end of 2022[83]. Risk Management - The company did not identify any significant risks that could adversely affect its future development strategy and operational goals during the reporting period[6]. - The report includes a detailed description of the main risks faced by the company and the measures taken to address them[6]. - The company emphasizes the importance of risk awareness regarding forward-looking statements made in the report[6]. - The non-performing loan ratio stands at 1.87%, slightly improved from 1.88% at the end of 2022[17]. - The provision coverage ratio has increased to 167.45%, up from 165.73% at the end of 2022[17]. - The bank has strengthened unified credit management and risk preference policies to enhance credit risk management[168]. - The bank has implemented a comprehensive operational risk management framework to minimize operational losses[170]. Capital and Shareholder Information - The total number of ordinary shares increased from 8,265,537,599 to 9,092,091,358 due to a capital reserve conversion of 826,553,759 shares[183]. - The total number of shares held by the top 10 shareholders reflects their interests and positions as of the reporting date[199]. - The total number of ordinary shareholders at the end of the reporting period was 99,731, with 99,677 being A-share shareholders and 54 being H-share shareholders[190]. - The largest shareholder, Zhengzhou Finance Bureau, has a direct and indirect holding of 1,418,761,196 shares, which is 20.06% of the A shares[200]. - The top 10 ordinary shareholders collectively held 4,000,000,000 shares, with Hong Kong Central Clearing Limited holding 2,020,248,927 shares, representing 22.22% of the total[191]. Sustainability and Corporate Governance - The report is printed on environmentally friendly paper, reflecting the company's commitment to sustainability[4]. - The company emphasizes a customer-centric culture and aims to enhance customer experience through its "Heart Finance" philosophy[38]. - The company has implemented a talent development strategy, including a management trainee program and a comprehensive training plan[38]. - The company was awarded several honors, including recognition as an advanced unit in preventing and handling illegal fundraising[34]. - The bank has not faced any administrative penalties related to environmental issues during the reporting period[178]. Economic Context - In the first half of 2023, China's GDP reached RMB 59,303.4 billion, reflecting a year-on-year growth of 5.5%[22]. - The retail sales of consumer goods in China increased by 8.2% year-on-year in the first half of 2023, indicating a recovery in consumption[22]. - The total social financing scale increased by RMB 21.55 trillion, which is RMB 475.4 billion more than the previous year[25]. - The balance of loans to the manufacturing sector grew by 40.3% year-on-year, significantly higher than the average loan growth rate[25]. Digital Transformation and Innovation - The bank has focused on digital financial innovation to enhance service for new citizens and rural populations[32]. - The bank aims to enhance business and technology integration, accelerating digital transformation and improving data service capabilities[180]. - The bank's mobile banking platform has signed up 3.2 million customers, a 16% increase from the previous year, with transaction amounts reaching RMB 365.2 billion[164]. - The bank has implemented over 20 optimization features for corporate electronic channels during the reporting period, enhancing product service capabilities[165]. Community Engagement and Support - The company’s inclusive small and micro enterprise loans reached a balance of RMB 46.69 billion, an increase of 5.41% compared to the beginning of the year, serving 67,330 clients[159]. - The company’s community finance initiatives engaged over 1.36 million participants, generating an increase of RMB 278 million in personal financial assets[160]. - The bank has established a rural financial department to support high-quality development of rural financial services[179].

Financial Performance - The total operating income for the first half of 2023 was RMB 6,918,370, a decrease of 8.52% compared to RMB 7,562,872 in the same period of 2022[13]. - The total profit for the first half of 2023 was RMB 2,526,990, reflecting a decline of 22.14% from RMB 3,245,690 in the first half of 2022[13]. - The net profit attributable to shareholders for the first half of 2023 was RMB 2,046,633, down 19.14% from RMB 2,531,066 in the same period last year[13]. - The basic earnings per share for the first half of 2023 was RMB 0.23, down 17.86% from RMB 0.28 in the same period of 2022[13]. - The bank achieved a net profit of RMB 2.11 billion for the first half of 2023, a decrease of 19.67% year-on-year[34]. - Net interest income was RMB 5.93 billion, down 5.12% from the previous year, accounting for 85.65% of total operating income[36]. - Total operating income decreased to RMB 6.92 billion, a decline of 8.52% compared to the same period last year[34]. - Non-interest income fell to RMB 992.59 million, representing a significant drop of 24.64% year-on-year[35]. Assets and Liabilities - The total assets as of June 30, 2023, reached RMB 616,859,397, representing a 4.28% increase from RMB 591,513,618 at the end of 2022[13]. - The total liabilities as of June 30, 2023, amounted to RMB 561,945,824, which is a 4.28% increase from RMB 538,888,382 at the end of 2022[14]. - The total loans and advances (excluding accrued interest) reached RMB 351,144,063, an increase of 6.11% from RMB 330,921,097 at the end of 2022[13]. - The total equity attributable to shareholders as of June 30, 2023, was RMB 52,993,053, an increase of 4.37% from RMB 50,772,566 at the end of 2022[14]. - The total risk-weighted assets as of June 30, 2023, were RMB 447,781,750, which is a 2.99% increase from RMB 434,769,547 at the end of 2022[14]. Capital and Ratios - The core Tier 1 capital ratio as of June 30, 2023, is 9.38%, an increase of 0.09% compared to 9.29% at the end of 2022[15]. - The total capital adequacy ratio as of June 30, 2023, is 12.77%, compared to 12.72% at the end of 2022[126]. - The liquidity coverage ratio decreased significantly to 205.17% from 300.13% at the end of 2022, a drop of 94.96%[15]. - The net stable funding ratio is 115.36%, also surpassing the 100% requirement[155]. Risk Management - No significant risks were identified that could adversely affect the bank's future development strategy and operational goals[2]. - The bank's management discussed the main risks faced in operations and the measures taken to mitigate them in the report[2]. - The bank has implemented a comprehensive risk management framework to enhance credit risk management across the entire lending process[151]. - The bank has strengthened its market risk management capabilities, including sensitivity analysis and stress testing for financial market operations[152]. Governance and Compliance - The report includes a detailed description of the bank's governance and management structure[3]. - The bank's board of directors and supervisory board confirmed the authenticity and completeness of the financial report[2]. - The bank is committed to compliance and risk management to ensure stable operations[30]. - The bank has implemented measures to strengthen anti-money laundering efforts, including optimizing risk monitoring systems[161]. Shareholder Structure - The total number of ordinary shares issued by the bank increased to 9,092,091,358 shares, following a capital reserve conversion of 826,553,759 shares[167]. - The total number of ordinary shareholders at the end of the reporting period was 99,731, with 99,677 A-share shareholders and 54 H-share shareholders[174]. - The ownership structure shows a mix of direct and indirect holdings, with several shareholders having control over multiple entities[181]. - The report indicates no repurchase agreements were made by the top 10 shareholders during the reporting period[177]. Future Outlook - The bank's future plans and forecasts are not considered substantive commitments to investors, highlighting the need for risk awareness[2]. - The bank is actively pursuing new strategies for market expansion and product development in the second half of 2023[200]. - The bank aims to enhance digital transformation and improve integrated data service capabilities to support business transformation[163].

Financial Performance - Bank of Zhengzhou reported an unaudited consolidated interim performance for the six months ended June 30, 2023[1]. - Operating revenue for the first half of 2023 was RMB 6,903,597, a decrease of 8.74% compared to RMB 7,564,388 in the same period of 2022[14]. - Net profit attributable to shareholders was RMB 2,046,633, down 19.14% from RMB 2,531,066 in the previous year[14]. - The bank achieved a net profit of RMB 2.114 billion for the reporting period, a decrease of 19.67% compared to the previous year[34]. - Total operating income decreased to RMB 6.904 billion, reflecting a decline of 8.74% from the previous year[35]. - Non-interest income fell to RMB 978 million, a significant drop of 25.85% year-on-year[35]. - Net interest income was RMB 5.926 billion, down 5.12% year-on-year, accounting for 85.84% of total operating income[36]. - The bank's operating profit decreased by 22.80% to RMB 2.503 billion compared to the same period last year[35]. Assets and Liabilities - Total assets increased by 4.28% to RMB 616,859,397 from RMB 591,513,618 at the end of 2022[14]. - The bank's total liabilities amounted to RMB 561.95 billion, an increase of RMB 23.06 billion or 4.28% compared to the end of the previous year[81]. - Customer deposits totaled RMB 353.41 billion, reflecting an increase of RMB 15.71 billion or 4.65% from the previous year-end[83]. - The total amount of loans and advances increased by 6.11% to RMB 351,144,063 from RMB 330,921,097 at the end of 2022[14]. - The bank's total equity reached RMB 54.91 billion, up RMB 2.29 billion or 4.35% from the end of the previous year[86]. Capital and Dividends - The bank plans not to distribute cash dividends or bonus shares for the first half of 2023[4]. - The bank's capital reserve will be converted into shares at a ratio of 1 share for every 10 shares held, as part of the 2022 annual dividend distribution plan[6]. - The total number of issued shares increased from 8,265,537,599 to 9,092,091,358 shares due to a capital reserve conversion of 826,553,759 shares[181]. - The company implemented a capital reserve conversion, increasing the number of ordinary shares from 8,265,537,599 to 9,092,091,358, resulting in a 10% increase in shares[182]. Risk Management - The report indicates no significant risks affecting the bank's future development strategy and operational goals[4]. - The bank's non-performing loan ratio improved slightly to 1.87% from 1.88% at the end of 2022[15]. - The bank's liquidity coverage ratio decreased significantly to 205.17% from 300.13% at the end of 2022[16]. - The bank's risk management framework has been continuously optimized to enhance risk management capabilities and effectiveness[165]. - The bank has implemented online monitoring for information technology risk management, enhancing the identification of potential risks[172]. Economic Context - In the first half of 2023, China's GDP reached RMB 59.3 trillion, growing by 5.5% year-on-year, with the primary, secondary, and tertiary industries growing by 3.7%, 4.3%, and 6.4% respectively[20]. - The total retail sales of consumer goods in China increased by 8.2% year-on-year in the first half of 2023, indicating a recovery in consumer spending[20]. - The total amount of social financing in the first half of 2023 was RMB 21.55 trillion, an increase of RMB 475.4 billion compared to the previous year[23]. Customer and Market Engagement - The bank has served over 190,000 rural residents and individual businesses, adding more than 30,000 new high-quality customers during the reporting period[26]. - The bank's focus on high-quality development has led to enhanced customer management, resulting in 10,830 new corporate accounts opened during the reporting period[139]. - The bank's mobile banking customer base reached 3.2 million, a growth of 16% compared to the end of the previous year[162]. - The bank's electronic channels have opened 70,000 accounts, with transaction amounts reaching RMB 7.3 trillion during the reporting period[151]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 99,731, with 99,677 being A-share shareholders and 54 being H-share shareholders[188]. - The largest shareholder, Hong Kong Central Clearing (Agent) Co., Ltd., holds 22.22% of H shares, totaling 2,020,248,927 shares, with an increase of 183,660,203 shares during the reporting period[189]. - Zhengzhou Investment Holding Co., Ltd. holds 6.69% of A shares, totaling 608,105,180 shares, with an increase of 55,282,289 shares during the reporting period[189]. - The report indicates that there are no dilutive potential ordinary shares affecting the earnings calculations[186]. Strategic Initiatives - The bank is focused on digital financial innovation, enhancing the customer experience in online and offline consumption loans[26]. - Zhengzhou Bank aims to build a platform-based financial ecosystem by integrating trade, information, capital, and logistics flows[28]. - The bank's strategy includes supporting stable and healthy development in the real estate sector and promoting policy-oriented financial innovation[178]. - The bank has implemented measures to strengthen anti-money laundering management, including the revision of 2 internal control systems and the enhancement of risk monitoring capabilities[175].

Financial Performance - Operating income for Q1 2023 was RMB 3,318,262 thousand, a decrease of 3.01% compared to RMB 3,421,374 thousand in Q1 2022[4] - Net profit attributable to shareholders for Q1 2023 was RMB 1,188,068 thousand, an increase of 1.86% from RMB 1,166,426 thousand in Q1 2022[4] - The net profit after deducting non-recurring gains and losses was RMB 1,183,732 thousand, an increase of 1.42% from RMB 1,167,133 thousand in Q1 2022[4] - The net profit for the group for the three months ended March 31, 2023, was RMB 1,239,919 thousand, compared to RMB 1,224,125 thousand for the same period in 2022, reflecting a year-on-year increase of about 1.29%[33] - The total operating income for the group for the three months ended March 31, 2023, was RMB 3,318,262 thousand, down from RMB 3,421,374 thousand in the same period last year, indicating a decrease of about 3.02%[32] - The group’s total comprehensive income for the three months ended March 31, 2023, was RMB 1,241,778 thousand, compared to RMB 1,291,449 thousand for the same period in 2022, reflecting a decrease of approximately 3.85%[34] Cash Flow - Net cash flow from operating activities was RMB (685,074) thousand, a significant decrease of 96.48% compared to RMB (19,460,535) thousand in Q1 2022[4] - The net increase in cash flow from operating activities for the group was RMB 32,233,294 thousand, compared to RMB 14,993,150 thousand in the same period last year, representing a year-over-year increase of approximately 115.0%[35] - The net cash flow from investment activities was negative RMB 3,084,685 thousand, a decrease from a positive cash flow of RMB 9,445,113 thousand in the same period last year[37] - The cash inflow from financing activities was RMB 41,949,499 thousand, compared to RMB 30,163,256 thousand in the previous year, reflecting an increase of approximately 39.2%[38] - The net cash flow from financing activities was RMB 3,289,500 thousand, a significant increase from RMB 557,256 thousand in the same period last year[38] - The total cash outflow from operating activities was RMB 32,918,368 thousand, compared to RMB 34,453,685 thousand in the same period last year, showing a decrease of approximately 4.5%[36] Assets and Liabilities - Total loans and advances amounted to RMB 342,374,050 thousand, reflecting a growth of 3.46% from RMB 330,921,097 thousand at the end of 2022[6] - Total deposits reached RMB 356,745,019 thousand, an increase of 4.37% from RMB 341,797,766 thousand at the end of 2022[6] - The bank's total equity attributable to shareholders was RMB 51,962,493 thousand, a growth of 2.34% from RMB 50,772,566 thousand at the end of 2022[7] - The total liabilities of Zhengzhou Bank reached RMB 552,511,416 thousand, compared to RMB 538,888,382 thousand at the end of 2022[30] - The total assets of Zhengzhou Bank amounted to RMB 606,378,430 thousand, an increase from RMB 591,513,618 thousand in December 2022[29] Capital and Ratios - Core Tier 1 capital adequacy ratio was 9.42% as of March 31, 2023, up from 9.29% at the end of 2022[11] - The weighted average return on equity (ROE) was 11.49% for Q1 2023, a slight decrease of 0.01 percentage points from 11.50% in Q1 2022[4] - Non-performing loan ratio remains stable at 1.88% as of March 31, 2023, compared to 1.88% at the end of 2022[13] - Provision coverage ratio is at 159.23%, above the regulatory requirement of 150%[13] - Total assets return on equity (annualized) improved to 0.83% from 0.45% at the end of 2022[13] - The bank's liquidity coverage ratio stood at 285.83%, down from 300.13% at the end of 2022[11] Income Sources - Net income from fees and commissions decreased by 30.56% year-on-year to RMB 161,462 thousand due to regulatory fee reduction policies[18] - Investment income increased by 55.58% year-on-year to RMB 205,213 thousand, driven by trading bond investments[18] - The group’s fee and commission income for the three months ended March 31, 2023, was RMB 192,919 thousand, down from RMB 268,611 thousand in the same period last year, a decline of about 28.14%[32] Shareholder Information - The number of ordinary shareholders reached 101,100, with a significant majority being A-share holders[22] - The number of shares held by the top 10 shareholders includes 1,836,589,934 H shares held by Hong Kong Central Clearing Limited, representing 22.22% of total shares[25] Strategic Focus - The bank's strategic focus includes enhancing technology integration and launching new financial products to support innovation[20]

Financial Performance - For Q1 2023, the bank reported operating income of RMB 3,294,537 thousand, a decrease of 3.67% compared to RMB 3,419,896 thousand in Q1 2022[3] - The net profit attributable to shareholders for Q1 2023 was RMB 1,188,068 thousand, an increase of 1.86% from RMB 1,166,426 thousand in the same period last year[3] - The net interest income for Q1 2023 was RMB 2,945,535 thousand, a decrease of 4.4% compared to RMB 3,079,118 thousand in Q1 2022[26] - The total comprehensive income for Q1 2023 was RMB 1,241,778 thousand, compared to RMB 1,291,449 thousand in Q1 2022, representing a decrease of 3.8%[27] - The basic and diluted earnings per share for Q1 2023 remained at RMB 0.14, unchanged from Q1 2022[27] - The company reported a decrease in net fee and commission income to RMB 161,462 thousand in Q1 2023 from RMB 232,520 thousand in Q1 2022, a decline of 30.6%[26] - The total operating expenses for Q1 2023 were RMB 669,454 thousand, an increase from RMB 571,705 thousand in Q1 2022, reflecting a rise of 17.1%[26] - The company’s pre-tax profit for Q1 2023 was RMB 1,518,388 thousand, slightly up from RMB 1,504,566 thousand in Q1 2022, showing a growth of 0.9%[26] Asset and Liability Management - Total assets as of March 31, 2023, reached RMB 606,378,430 thousand, reflecting a growth of 2.51% from RMB 591,513,618 thousand at the end of 2022[5] - The total loans and advances amounted to RMB 342,374,050 thousand, an increase of 3.46% from RMB 330,921,097 thousand at the end of 2022[5] - The total liabilities rose to RMB 552,511,416 thousand from RMB 538,888,382 thousand, reflecting an increase of about 2.3%[28] - The total equity attributable to shareholders increased to RMB 51,962,493 thousand from RMB 50,772,566 thousand, marking a growth of approximately 2.3%[29] Capital Adequacy and Ratios - The bank's core tier 1 capital adequacy ratio was 9.42%, exceeding the regulatory requirement of 7.5%[8] - Core Tier 1 capital increased to RMB 41,886,205 thousand as of March 31, 2023, up from RMB 40,383,351 thousand at the end of 2022, reflecting a Core Tier 1 capital adequacy ratio of 9.42%[10] - The leverage ratio decreased to 7.55% as of March 31, 2023, compared to 7.69% at the end of 2022, indicating a tightening of capital relative to total assets[11] - The liquidity coverage ratio stood at 285.83% as of March 31, 2023, indicating a strong liquidity position[13] Loan Quality and Performance - The non-performing loan ratio remained stable at 1.88%, consistent with the previous quarter[8] - The total amount of loans classified as "normal" was RMB 328,940,790 thousand, accounting for 96.08% of total loans, showing a stable credit quality[14] - The non-performing loan ratio was calculated based on the total amount of non-performing loans, which showed a stable performance with a slight increase in the coverage ratio[12] Cash Flow Analysis - The net cash flow from operating activities was RMB (685,074) thousand, a significant decrease of 96.48% compared to RMB (19,460,535) thousand in Q1 2022[3] - The net cash flow from operating activities for the three months ended March 31, 2023, was RMB (685,074) thousand, compared to RMB (19,460,535) thousand for the same period in 2022, showing a significant improvement[34] - Cash flow from investing activities resulted in a net outflow of RMB (3,084,685) thousand, down from a net inflow of RMB 9,445,113 thousand in the previous year[34] - The net cash flow from financing activities was RMB 3,289,500 thousand, compared to RMB 557,256 thousand in the same period last year, indicating a substantial increase[34] Strategic Initiatives - The bank launched a new "R&D Loan" product to support enterprises' research and operational needs, enhancing its role in the innovation finance sector[17] - The bank issued RMB 5 billion in financial bonds in the first quarter of 2023, with a subscription multiple of 2.3 times, indicating strong market demand[17] - The bank's digital transformation initiatives included the launch of a wealth management platform and a new generation bill system, aimed at enhancing operational efficiency[17] Investment and Growth - Investments in associates increased by 135.93% to RMB 646,171 thousand, reflecting a strategic focus on expanding partnerships[16]

Capital Distribution and Financial Reporting - The Board of Directors proposed a capital reserve distribution plan, recommending a stock dividend of 1 share for every 10 shares held, with no cash dividends or bonus shares [6]. - The financial report for 2022 was audited by Ernst & Young, receiving standard unqualified opinions from both Chinese and Hong Kong auditing standards [5]. - The report period covers from January 1, 2022, to December 31, 2022, and includes consolidated financial data from several subsidiaries [5]. Company Performance and Financial Metrics - Operating income for 2022 was RMB 15,225,843 thousand, an increase of 2.80% compared to RMB 14,810,905 thousand in 2021 [23]. - Total profit decreased by 29.61% to RMB 2,807,230 thousand from RMB 3,988,138 thousand in the previous year [23]. - Net profit attributable to shareholders was RMB 2,422,304 thousand, down 24.92% from RMB 3,226,192 thousand in 2021 [23]. - Total assets increased by 2.88% to RMB 591,513,618 thousand at the end of 2022, compared to RMB 574,979,662 thousand at the end of 2021 [23]. - The non-performing loan ratio was 1.88%, slightly up from 1.85% in 2021 [25]. - The capital adequacy ratio decreased to 12.72% from 15.00% in the previous year [25]. - The weighted average return on equity dropped to 3.53% from 7.17% in 2021 [25]. - The net interest margin was 2.18%, down from 2.24% in the previous year [25]. - Cash flow from operating activities was negative at RMB (31,350,017) thousand, an improvement of 26.44% from RMB (42,619,059) thousand in 2021 [23]. Loan and Credit Management - Zhengzhou Bank provided financial support for small and micro enterprises, processing 4,500 deferment applications totaling RMB 3.18 billion [13]. - The bank approved RMB 6.4 billion in loans under the "guarantee delivery" initiative, signing strategic cooperation agreements with seven real estate companies [14]. - As of the reporting period, Zhengzhou Bank supported 2,640 innovation-related loans with a total balance of RMB 24.1 billion [16]. - The total amount of loans and advances increased by 14.49% to RMB 330,921,097 thousand from RMB 289,027,668 thousand in 2021 [23]. - The non-performing loan (NPL) balance reached RMB 6.22 billion, with a non-performing loan ratio of 1.88%, an increase of 0.03 percentage points from the previous year [124]. - The overdue loans reached RMB 9.84 billion, an increase of RMB 1.49 billion or 17.83% year-on-year, with overdue loans accounting for 2.97% of total loans, up 0.08 percentage points from the previous year [139]. Economic and Strategic Initiatives - The company aims to build a high-quality development value-leading bank, reflecting its commitment to progress and resilience in 2022 [12]. - Zhengzhou Bank implemented 27 measures to stabilize the economy and promote growth, aligning with national and provincial policies [14]. - The bank's leadership expressed a strong determination to continue high-quality development in 2023, aligning with national strategic directives [17]. - The company plans to enhance its market expansion strategies and invest in new technologies to improve operational efficiency and customer service [32]. Digital Transformation and Innovation - Zhengzhou Bank's digital transformation strategy was emphasized as a key focus for high-quality development [16]. - The bank introduced over 10 specialized products, including talent loans and R&D loans, to support innovative enterprises [16]. - The company is focused on becoming a "specialized financial service expert for small and medium enterprises," emphasizing digital and intelligent development [45]. - The bank has launched innovative products such as "Yidingtong" and cross-border non-financing guarantees, enhancing its service offerings [200]. Risk Management and Compliance - The company is committed to compliance and risk management, enhancing internal control and compliance levels to ensure stable operations [47]. - The bank has strengthened credit risk management and accelerated the disposal of non-performing assets during the reporting period [128]. - The bank's focus remains on high-quality development and enhancing risk management capabilities [128]. Awards and Recognition - The company has received multiple awards, including recognition as a "Top 100 Enterprises in Henan" and "Outstanding Financial Bond Issuer" in 2022 [51].

Financial Performance - Operating revenue for 2022 was RMB 15,101,350 thousand, an increase of 2.03% compared to RMB 14,800,539 thousand in 2021[18]. - Total profit decreased by 29.61% to RMB 2,807,230 thousand from RMB 3,988,138 thousand in the previous year[18]. - Net profit attributable to shareholders was RMB 2,422,304 thousand, down 24.92% from RMB 3,226,192 thousand in 2021[18]. - The total assets at the end of 2022 reached RMB 591,513,618 thousand, reflecting a growth of 2.88% from RMB 574,979,662 thousand in 2021[19]. - The non-performing loan ratio increased slightly to 1.88% from 1.85% in the previous year[20]. - The core tier 1 capital ratio decreased to 9.29% from 9.49% in 2021, a decline of 0.20%[20]. - The net interest margin for 2022 was 2.18%, down from 2.24% in 2021[21]. - The provision coverage ratio improved to 165.73% from 156.58% in the previous year, an increase of 9.15%[20]. - The total loans and advances (excluding accrued interest) increased by 14.49% to RMB 330,921,097 thousand from RMB 289,027,668 thousand in 2021[19]. - The weighted average return on equity decreased to 3.53% from 7.17% in 2021, a decline of 3.64%[20]. 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[2]. - The company is focused on risk management and has outlined its strategies in the "Management Discussion and Analysis" section of the report[2]. - The provision coverage ratio for non-performing loans was calculated based on the balance of impairment provisions against the total amount of non-performing loans[24]. - The bank's capital adequacy ratio is calculated based on the statutory financial statements prepared in accordance with Chinese accounting standards[24]. - The non-performing loan ratio is calculated as the total amount of non-performing loans divided by the total amount of loans issued[24]. - The average return on assets for the reporting period was calculated based on the net profit as a percentage of the average total assets[24]. - The company has established a comprehensive market risk management framework, including risk identification, measurement, and monitoring[159]. - The company has implemented a daily risk monitoring system to enhance the quality and effectiveness of risk management[159]. - The company has revised its operational risk management framework to minimize operational losses[160]. - The company has developed a robust anti-money laundering framework, including 11 specialized regulations[165]. Strategic Initiatives - The company emphasizes a commitment to high-quality development and aims to establish itself as a leading bank in value[9]. - The bank plans to continue expanding its market presence and enhancing its product offerings in the future[9]. - Zhengzhou Bank is committed to digital transformation and has been designated as a policy-oriented financial operation entity for scientific and technological innovation[12]. - The bank's strategy includes a focus on risk control and the disposal of non-performing assets to strengthen its foundation[12]. - The bank aims to enhance its role in local economic development while adhering to national and provincial policy directives[13]. - The bank's strategic vision focuses on becoming a "value-leading bank for high-quality development" with three main business positions: trade logistics bank, SME financial service expert, and boutique citizen bank[34]. - The bank is actively pursuing digital transformation to enhance financial services for the real economy, leveraging the "Digital China" national strategy[34]. - The bank's strategy focuses on high-quality development, innovation-driven growth, and optimizing the asset-liability structure to achieve balanced growth in scale, profitability, and risk[175]. Loans and Advances - Zhengzhou Bank provided financial support for small and micro enterprises, processing 4,500 loan deferments totaling RMB 3.18 billion[10]. - The bank approved RMB 6.4 billion in loans for the "guarantee delivery" initiative, signing strategic cooperation agreements with 7 real estate companies[11]. - As of the reporting period, Zhengzhou Bank supported 2,640 innovation-related loans, with a total balance of RMB 24.1 billion[13]. - The total amount of loans and advances issued by the bank was RMB 330.92 billion, an increase of RMB 41.89 billion or 14.49% year-on-year[76]. - The balance of loans to small and micro enterprises reached RMB 44.292 billion, an increase of 13.72% compared to the end of the previous year, exceeding the overall loan growth rate by 0.88 percentage points[151]. - The cumulative issuance of inclusive loans to small and micro enterprises amounted to RMB 29.799 billion, with an average interest rate of 5.68%[151]. - The bank's total loan issuance reached RMB 330.92 billion, with a non-performing loan rate of 1.80% for corporate loans, a decrease of 0.06 percentage points year-on-year[101]. - Personal loans accounted for 24.57% of total loans, with a non-performing loan rate of 2.49%, an increase of 0.34 percentage points from the previous year[101]. Shareholder Information - The bank's total issued shares as of December 31, 2022, amounted to 8,265,537,599, including 1,836,780,000 H shares and 6,428,757,599 A shares[178]. - The total number of ordinary shareholders at the end of the reporting period was 98,586, with 98,532 A-share shareholders and 54 H-share shareholders[187]. - The top 10 ordinary shareholders held a total of 4,200,000,000 shares, with the largest shareholder, Hong Kong Central Clearing Limited, holding 1,836,588,724 H-shares, representing 22.22%[188]. - Zhengzhou Finance Bureau held 597,496,646 A-shares, accounting for 7.23% of total shares, with 84,799,000 shares pledged[188]. - The report indicates that there were no special agreements for repurchase transactions among the top 10 shareholders[191]. - The report highlights the ownership structure involving multiple layers of control among major shareholders, particularly in state-owned enterprises[195]. - The major shareholders include Zhengzhou Finance Bureau, Zhengzhou Investment Holding Co., Ltd., and other related entities[200]. - There are no controlling shareholders or actual controllers for Zhengzhou Bank as of the end of the reporting period[200]. Economic Outlook - The bank anticipates facing risks from global economic downturns and domestic economic pressures in 2023[174]. - The overall economy is expected to return to potential growth rates in 2023, with significant consumption rebound anticipated due to targeted interest rate cuts in the real estate sector[175]. - The bank will closely monitor macroeconomic policies and the impact of extreme weather on its operations, ensuring financial stability and operational results[175]. - The bank's focus on restoring and expanding consumption is aligned with provincial efforts to activate the real estate market and promote major project advancements[175].

Financial Performance - The Bank of Zhengzhou reported its audited consolidated annual results for the year ended December 31, 2022[1]. - Operating income for 2022 was RMB 15,225,843 thousand, an increase of 2.80% compared to RMB 14,810,905 thousand in 2021[20]. - Total profit decreased by 29.61% to RMB 2,807,230 thousand from RMB 3,988,138 thousand in the previous year[20]. - Net profit attributable to shareholders was RMB 2,422,304 thousand, down 24.92% from RMB 3,226,192 thousand in 2021[20]. - The bank's net profit was RMB 2.6 billion, a decrease of 23.48% compared to the previous year[34]. - The net interest income was RMB 12.25 billion, reflecting a growth of 2.55% year-on-year[46]. - The net profit attributable to shareholders was negative at (981,141) thousand RMB in Q4 2022, compared to a profit of 872,379 thousand RMB in Q3 2022[26]. - The total operating income for Q4 2022 was 3,402,986 thousand RMB, a decrease from 4,258,469 thousand RMB in Q3 2022[26]. Risk Management - The bank did not identify any significant risks that would adversely affect its future development strategy and operational goals during the reporting period[6]. - The report includes a detailed description of the main risks faced by the bank and the measures taken to address them[6]. - The bank's commitment to high-quality development is aligned with the national strategy for economic stability and growth[15]. - The bank's focus on high-quality development and risk management has led to an overall controllable loan quality[81]. - The bank has established a comprehensive credit risk management framework covering the entire credit business process[145]. - The bank's operational risk management framework aims to minimize losses from internal processes and external events[147]. - The bank's liquidity risk management focuses on maintaining sufficient funding positions to meet obligations and business needs[148]. Capital and Shareholder Information - The board proposed a capital reserve distribution plan, offering 1 additional share for every 10 shares held, with no cash dividends or bonus shares[6]. - The total number of issued shares is 8,265,537,599, including 1,836,780,000 H-shares and 6,428,757,599 A-shares[168]. - The bank's total number of limited shares at the end of the reporting period was 344,097,605, representing 4.16% of total shares[167]. - The top 10 ordinary shareholders held a total of 3,746,000,000 shares, with the largest shareholder, Hong Kong Central Clearing (Agent), holding 1,836,588,724 H-shares, representing 22.22% of total shares[177]. - Zhengzhou Finance Bureau, a state-owned entity, held 597,496,646 A-shares, accounting for 7.23% of total shares, with 84,799,000 shares pledged[177]. Loans and Advances - In 2022, Zhengzhou Bank provided loan extensions for 4,500 small and micro enterprises, totaling RMB 3.18 billion to support economic recovery[11]. - The total amount of loans and advances issued was RMB 330.921 billion, up 14.49% year-on-year[34]. - The bank supported 2,640 innovation-driven enterprises with loans amounting to RMB 24.1 billion during the reporting period[14]. - The total amount of personal loans was RMB 81,316,327 thousand, with an NPL of RMB 2,020,870 thousand, resulting in an NPL ratio of 2.49%[85]. - The overdue loans amounted to RMB 9,839,206 thousand, representing 2.97% of the total loans, an increase of RMB 1,489,000 thousand or 17.83% from the previous year[88]. Economic and Market Context - In 2022, the national GDP reached RMB 121,020.7 billion, growing by 3.0% year-on-year, with the primary, secondary, and tertiary industries increasing by 4.1%, 3.8%, and 2.3% respectively[27]. - The total retail sales of consumer goods in 2022 amounted to RMB 43,973.3 billion, a slight decline of 0.2% compared to the previous year, indicating a significant impact from economic downturns[27]. - The total import and export value in 2022 reached RMB 42,067.8 billion, growing by 7.7% year-on-year, with general trade imports and exports increasing by 11.5%[27]. - The average disposable income per capita in China in 2022 was RMB 36,883, showing a nominal increase of 5.0% year-on-year, with real growth of 2.9% after adjusting for price factors[27]. Digital Transformation and Innovation - The bank's digital transformation strategy was emphasized as a key focus for future development[14]. - The company focuses on becoming a "financial service expert for small and medium-sized enterprises," emphasizing digitalization, online services, and intelligent development[39]. - The bank launched over 10 specialized financial products, including talent loans and R&D loans, to support innovation-driven enterprises[14]. - The bank's mobile banking platform signed up 2.7367 million customers, a 12% year-on-year growth, with transaction amounts reaching RMB 283.8 billion, up 33%[142]. Corporate Governance and Compliance - The annual report was approved by the board of directors at the eighth meeting of the seventh board on March 30, 2023[5]. - The company emphasizes compliance and risk management, implementing a three-line defense system to enhance operational stability[41]. - The bank has established a comprehensive anti-money laundering governance structure, having developed 11 specialized anti-money laundering regulations[152]. - The bank has improved its business continuity management capabilities, enhancing its response to emergencies and refining internal control systems[150].

Financial Performance - Operating income for Q3 2022 was RMB 4,160,477 thousand, an increase of 19.30% year-on-year[4] - Net profit attributable to shareholders for Q3 2022 was RMB 872,379 thousand, a decrease of 0.63% year-on-year[4] - Net profit attributable to shareholders after deducting non-recurring gains and losses for Q3 2022 was RMB 825,378 thousand, a decrease of 5.36% year-on-year[4] - The total operating income for the group reached RMB 11,723,349 thousand, an increase from RMB 10,435,097 thousand in the same period last year, representing a growth of approximately 12.3%[32] - Net interest income for the group was RMB 9,455,463 thousand, up from RMB 8,736,852 thousand, reflecting a year-on-year increase of about 8.2%[32] - The net profit attributable to shareholders of the bank was RMB 3,543,822 thousand, compared to RMB 3,456,135 thousand in the previous year, indicating a growth of approximately 2.5%[33] - The total profit amounted to RMB 4,355,769 thousand, which is an increase from RMB 4,236,446 thousand, showing a growth of around 2.8% year-on-year[33] - The total comprehensive income for the group was RMB 3,750,293 thousand, down from RMB 3,985,486 thousand, indicating a decrease of about 5.9%[34] Asset and Liability Management - Total assets as of September 30, 2022, were RMB 596,131,114 thousand, an increase of 3.68% from the end of 2021[6] - The total liabilities as of September 30, 2022, were RMB 532,939,613 thousand, an increase of 3.37% from the end of 2021[6] - The bank's total equity reached RMB 63.19 billion as of September 30, 2022, up from RMB 59.41 billion at the end of 2021, reflecting a growth of approximately 6.5%[31] - The bank's total assets increased to 457,135,570 thousand RMB as of September 30, 2022, up from 421,013,820 thousand RMB at the end of 2021[13] - The bank's total deposits reached RMB 339.88 billion as of September 30, 2022, compared to RMB 321.57 billion at the end of 2021, representing an increase of about 5.7%[30] Capital Adequacy and Risk Management - The core tier 1 capital adequacy ratio as of September 30, 2022, is 9.54%, an increase from 9.49% at the end of 2021[10] - The bank's total capital adequacy ratio is 14.51%, slightly down from 15.00% at the end of 2021[13] - The loan provision coverage ratio is 3,169.12%, well above the regulatory requirement of 150%[10] - The non-performing loan ratio is 1.76%, down from 1.85% at the end of 2021, indicating improved asset quality[10] Cash Flow Analysis - The net cash flow from operating activities for Q3 2022 was RMB (4,614,560) thousand, a decrease of 77.25% year-on-year[4] - The cash inflow from operating activities for the group was RMB 40,202,723 thousand for the nine months ended September 30, 2022, down from RMB 45,308,441 thousand in the same period of 2021, a decrease of 6.2%[39] - The net cash flow from operating activities for the bank was RMB (20,783,729) thousand, down from RMB (25,409,235) thousand, representing a decline of about 18.5%[40] - The net cash flow from investment activities for the group was RMB 20,897,096 thousand, down from RMB 26,190,609 thousand, indicating a decline of about 20.5%[41] Operational Efficiency - The cost-to-income ratio improved to 17.53% from 22.98% year-on-year, reflecting better operational efficiency[12] - The bank's investment income increased by 64.65% year-on-year, reaching 674,749 thousand RMB, driven by favorable bond market conditions[17] - The bank's foreign exchange net income surged by 693.22% year-on-year, totaling 1,075,050 thousand RMB, attributed to fluctuations in the USD/RMB exchange rate[17] Strategic Initiatives - The bank has launched a new debit card for new citizens and developed exclusive consumer loan and wealth management products[20] - Financial support for the "guarantee housing" initiative amounted to RMB 5.692 billion in approvals and RMB 1.842 billion in disbursements[20] - A total of 83 credit cooperation projects were initiated with key small and micro enterprise parks, resulting in RMB 15.464 billion in credit support[19]