Financial Performance - Revenue for the first half of 2024 decreased by 36.2% to RMB 4,560.15 million compared to RMB 7,143.94 million in the same period of 2023[5] - Net profit attributable to shareholders decreased by 21.9% to RMB 576.59 million in the first half of 2024 from RMB 737.88 million in the same period of 2023[5] - Net profit for the first half of 2024 was RMB 592 million, a decrease of RMB 198 million, or 25.1%, compared to the same period last year[13] - Net profit for the period was RMB 650.98 million, a decrease from RMB 919.25 million in the same period last year[183] - Net profit attributable to shareholders for the six months ended June 30, 2024, was RMB 576,594 thousand, compared to RMB 737,875 thousand in the same period in 2023[173] - Total comprehensive income for the six months ended June 30, 2024, was RMB 172,611 thousand, compared to RMB 897,956 thousand in the same period in 2023[174] - Other comprehensive income for the first half of 2024 was a loss of RMB 419.08 million[180] - Total comprehensive income for the first half of 2024 was RMB 172.61 million[180] - Pre-tax profit for corporate banking was RMB 751,304 thousand, retail banking was RMB 131,086 thousand, and funds business incurred a loss of RMB 244,764 thousand, with other business contributing RMB 13,354 thousand, resulting in a total pre-tax profit of RMB 650,980 thousand[195] - Pre-tax profit for corporate banking in the previous period was RMB 3,253,163 thousand, retail banking was RMB 77,500 thousand, and funds business incurred a loss of RMB 2,413,324 thousand, with other business contributing RMB 1,915 thousand, leading to a total pre-tax profit of RMB 919,254 thousand[198] Asset and Liability Management - Total assets decreased by 1.1% to RMB 1,068.31 billion as of June 30, 2024, compared to RMB 1,080.05 billion at the end of 2023[5] - Total loans and advances increased by 3.1% to RMB 492.71 billion as of June 30, 2024, compared to RMB 477.88 billion at the end of 2023[5] - Total deposits increased by 2.4% to RMB 779.28 billion as of June 30, 2024, compared to RMB 761.15 billion at the end of 2023[5] - Total liabilities decreased by RMB 11.916 billion to RMB 988.241 billion, a 1.2% decline compared to the end of the previous year[73] - Total equity increased to RMB 80.06 billion as of June 30, 2024, up from RMB 79.89 billion at the end of 2023[177] - Total assets as of June 30, 2024, were RMB 1,068,305,291 thousand, compared to RMB 1,080,052,706 thousand as of December 31, 2023[175] - Loans and advances as of June 30, 2024, were RMB 517,773,638 thousand, compared to RMB 496,289,504 thousand as of December 31, 2023[175] - Financial investments measured at fair value through profit or loss as of June 30, 2024, were RMB 102,030,638 thousand, compared to RMB 105,916,358 thousand as of December 31, 2023[175] - Financial investments measured at fair value through other comprehensive income as of June 30, 2024, were RMB 55,366,719 thousand, compared to RMB 86,554,502 thousand as of December 31, 2023[175] - Financial investments measured at amortized cost as of June 30, 2024, were RMB 250,522,833 thousand, compared to RMB 264,690,316 thousand as of December 31, 2023[175] - Cash and deposits with central banks as of June 30, 2024, were RMB 83,349,513 thousand, compared to RMB 76,097,764 thousand as of December 31, 2023[175] - Total liabilities for corporate banking were RMB 239,210,055 thousand, retail banking were RMB 565,830,886 thousand, and funds business were RMB 183,091,896 thousand, with other liabilities at RMB 108,580 thousand, resulting in a total liability sum of RMB 988,241,417 thousand[196] - Total liabilities for corporate banking in the previous period were RMB 279,026,867 thousand, retail banking were RMB 554,934,279 thousand, and funds business were RMB 178,759,906 thousand, with other liabilities at RMB 108,866 thousand, leading to a total liability sum of RMB 1,012,829,918 thousand[199] Interest Income and Expense - Interest income decreased by RMB 4.86 billion, or 22.8%, while interest expenses decreased by RMB 2.11 billion, or 13.8%, resulting in a net interest income decrease of RMB 2.74 billion, or 45.9%[14][17][18] - Net interest income decreased by RMB 2.743 billion to RMB 3.236 billion, with a net interest margin of 1.20% and a net interest spread of 0.80%[21][22] - Interest income for the six months ended June 30, 2024, was RMB 16,442,995 thousand, compared to RMB 21,300,324 thousand in the same period in 2023[173] - Net interest income for the six months ended June 30, 2024, was RMB 3,235,788 thousand, compared to RMB 5,978,322 thousand in the same period in 2023[173] - Interest income received was RMB 12.20 billion, up from RMB 8.54 billion in the same period last year[185] - Interest payments (excluding bond interest) decreased to RMB 10.76 billion, compared to RMB 15.71 billion in 2023[185] - Net interest income for corporate banking was RMB 2,436,459 thousand, while retail banking recorded a net interest income of RMB 1,197,768 thousand, and funds business had a net interest expense of RMB 398,439 thousand, resulting in a total net interest income of RMB 3,235,788 thousand[195] - Net interest income for corporate banking in the previous period was RMB 4,671,451 thousand, retail banking was RMB 1,300,042 thousand, and funds business was RMB 6,829 thousand, leading to a total net interest income of RMB 5,978,322 thousand[198] Loan and Deposit Performance - Total loans and advances increased by 3.1% to RMB 492.71 billion as of June 30, 2024, compared to RMB 477.88 billion at the end of 2023[5] - Total deposits increased by 2.4% to RMB 779.28 billion as of June 30, 2024, compared to RMB 761.15 billion at the end of 2023[5] - The loan-to-deposit ratio increased to 63.23% as of June 30, 2024, from 62.78% at the end of 2023[6] - Loans in key areas such as technology, green, and manufacturing reached RMB 16.2 billion, with small and micro enterprise loans growing by 32.2% and the number of small and micro enterprise loan customers increasing by 23.9%[11] - Loans and advances accounted for RMB 485.01 billion of interest-earning assets, with an average yield of 5.08%, down from 5.36% in the same period last year[20] - Loan and advance interest income decreased by RMB 5.215 billion (29.8%) to RMB 12.258 billion, accounting for 74.5% of total interest income, down 7.5 percentage points year-over-year[28] - Total loans and advances increased to RMB 492.71 billion as of June 30, 2024, up from RMB 477.88 billion at the end of 2023, with mortgage loans accounting for 40.4% of the total[63] - Corporate loans (including bill discounts) increased by RMB 13.99 billion (3.8%) to RMB 383.32 billion, representing 77.8% of total loans and advances, up 0.5 percentage points from the end of 2023[60] - Personal loans increased by RMB 833 million (0.8%) to RMB 109.38 billion, accounting for 22.2% of total loans and advances, down 0.5 percentage points from the end of 2023[60] - Deposits increased by RMB 18.123 billion to RMB 779.277 billion, a 2.4% increase, accounting for 78.9% of total liabilities[75] - Personal deposits grew by RMB 27.206 billion, a 5.2% increase, while corporate deposits decreased by RMB 15.217 billion[75] Non-Performing Loans and Risk Management - The non-performing loan ratio slightly decreased to 2.66% as of June 30, 2024, from 2.68% at the end of 2023[6] - Non-performing loan ratio decreased to 2.66%, down by 0.02 percentage points from the end of the previous year, while the provision coverage ratio increased to 159.59%, up by 0.09 percentage points[10] - The company's non-performing loan ratio was 2.66% as of June 30, 2024, compared to 2.68% as of December 31, 2023[90] - Corporate loans (including bill discounts) had a non-performing loan ratio of 2.62% as of June 30, 2024, down from 2.66% as of December 31, 2023[91] - Personal loans had a non-performing loan ratio of 2.82% as of June 30, 2024, up from 2.74% as of December 31, 2023[91] - Total non-performing loans amounted to RMB 13.11 billion as of June 30, 2024, with a NPL ratio of 2.66%[82] - Loans classified as normal accounted for 93.3% of total loans as of June 30, 2024, up from 94.2% at the end of 2023[83] - Loans to the top five industries (wholesale and retail, leasing and business services, real estate, manufacturing, and construction) accounted for 59.2% of total loans as of June 30, 2024[87] - The top ten single borrowers accounted for 11.72% of total loans as of June 30, 2024, all classified as normal loans[89] - Loans to the wholesale and retail industry had the highest NPL ratio of 4.85% as of June 30, 2024[85] - Loans to the real estate industry had a NPL ratio of 2.36% as of June 30, 2024, up from 2.20% at the end of 2023[85] - Loans to the manufacturing industry had a NPL ratio of 3.05% as of June 30, 2024, down from 3.61% at the end of 2023[85] - Loans to the agriculture, forestry, animal husbandry, and fishery industry had the highest NPL ratio of 8.18% as of June 30, 2024[86] - The company optimized its credit risk management by refining credit policies, implementing quota management, and improving loan review processes[119] - The company strengthened its operational risk management by enhancing internal control culture, optimizing risk control mechanisms, and conducting regular risk assessments[121] - The company improved its market risk management system, including the introduction of the "Market Risk Management Measures (2024)" and the "Market Risk Quota Management Plan (2024)"[122] - The company focused on managing interest rate risk in the banking book by adjusting asset-liability structures and using internal pricing tools to mitigate the impact of rate fluctuations[123] - The company established a comprehensive liquidity risk management system to ensure liquidity safety and meet regulatory requirements[124] Capital and Liquidity - The capital adequacy ratio decreased to 13.93% as of June 30, 2024, from 14.12% at the end of 2023[6] - The company's core tier 1 capital adequacy ratio was 10.26%, tier 1 capital adequacy ratio was 12.24%, and total capital adequacy ratio was 13.93% as of June 30, 2024[92] - The company's capital adequacy ratio remained stable, with a capital reserve of RMB 14.859 billion[80] - The company has extended the validity period for the issuance of financial bonds until November 29, 2024[152] - The company's total equity as of December 31, 2023, was RMB 79.89 billion, with retained earnings of RMB 23.53 billion[182] - The company allocated RMB 54.44 million to statutory surplus reserves during the first half of 2024[180] - The company allocated RMB 28.16 million to general reserves during the first half of 2024[180] - Cash dividends distributed during the first half of 2024 amounted to RMB 3.6 million[180] - The company's investment revaluation reserve decreased to a negative RMB 2.79 billion as of June 30, 2024, from a negative RMB 2.35 billion at the end of 2023[177] Digital Transformation and Innovation - The bank enhanced digital transformation and product innovation in transaction banking to support regional development[103] - The bank implemented advanced machine learning algorithms to improve retail credit risk models and customer experience[106] - Mobile banking users reached 4.287 million, a year-on-year increase of 3.8%, with monthly active users growing by 4.0% compared to the same period last year[117] - The company launched 42 new features in its mobile banking app, including card replacement, wealth management, and loan services, enhancing the user experience[117] - The company upgraded its domestic distributed database platform and implemented a multi-active mode across three data centers, significantly improving data security and business continuity[118] - The company developed new platforms such as the "Intelligent Message Push Platform" and "Shengqing Community Platform" to drive business scenario innovation[118] Corporate Governance and Shareholding - The company's board of directors includes 5 executive directors, 5 non-executive directors, and 5 independent non-executive directors[154][155] - The company's senior management team includes a President, 3 Vice Presidents, and a Chief Information Officer[154][155] - The company's independent non-executive director Chen Bonan's appointment is pending approval from the Liaoning Financial Regulatory Bureau[155] - The company's Assistant to the President Sun Yingpin's appointment is pending approval from the Liaoning Financial Regulatory Bureau[155] - Total number of shares as of the latest practicable date is 8,796,680,200, with 6,455,937,700 domestic shares and 2,340,742,500 H shares, unchanged during the reporting period[131] - State-owned legal person holdings increased by 300,000,000 shares to 3,600,756,425 shares, representing 40.93% of total shares, while private legal person holdings decreased by 300,000,000 shares to 2,733,627,664 shares, representing 31.08% of total shares[132] - As of June 30, 2024, the bank has 3,469 domestic shareholders and 124 H-share shareholders, including 42 state-owned legal person shareholders, 110 private legal person shareholders, and 3,317 individual shareholders[133] - The top 10 domestic shareholders hold a total of 4,409,061,661 shares, representing 50.12% of the total share capital, with Shenyang Shengjing Financial Holding Investment Group Co., Ltd. holding the largest stake at 20.79%[134] - Shenyang Shengjing Financial Holding Investment Group Co., Ltd. holds 1,829,225,327 shares, representing 28.33% of domestic shares and 20.79% of total share capital[137] - Shenyang Municipal State-owned Assets Supervision and Administration Commission holds 64.85% of Shenyang Financial Holding Group, which owns 1,829,225,327 A-shares of the company[138] - Shenyang Industrial Investment Development Group Co., Ltd., which is 98.16% owned by Shenyang Municipal State-owned Assets Supervision and Administration Commission, holds 479,836,334 A-shares of the company[138] - Sun Cuhong holds 420,898,500 H-shares, representing 17.98% of total H-shares and 4.78% of total share capital[140] - Future Capital Group Limited holds 400,000,000 H-shares, representing 17.09% of total H-shares and 4.55% of total share capital[140] - PEAK TRUST COMPANY-NV holds 406,761,000 H-shares, representing 17.38% of total H-shares and 4.62% of total share capital[140] - Zhang Songqiao holds 324,651,500 H-shares, representing 13.87% of total H-shares and 3.69% of total share capital[140] - Oshidori International Holdings Limited holds 293,034,000 H-shares, representing 12.52% of total H-shares and 3.33% of total share capital[140] - Cheng Yu Tung Family (Holdings II) Limited holds 179,518,060 H-shares, representing 7.67% of total H-shares and 2.04% of total share capital[140] - Chow Tai Fook (Holding) Limited holds 179,518,060 H-shares, representing 7.67% of total H-shares and 2.04% of total share capital[140] - Murtsa Capital Limited holds 172,512,893 H-shares, representing 7.37% of total H-shares and 1.96% of total share capital[141] - Murtsa Capital Limited holds
盛京银行(02066) - 2024 - 中期财报