2024-10-30 09:58Financial Performance - Net profit for Q3 2024 was RMB 27,098 million, up 3.71% from Q3 2023[4] - Basic and diluted earnings per share for Q3 2024 were RMB 0.27, a decrease of 3.85% compared to the same period last year[4] - Net profit attributable to shareholders reached 75.82 billion yuan, reflecting a year-on-year growth of 0.22%[14] - Net profit for the nine months ended September 30, 2024, was RMB 75,983 million, compared to RMB 75,766 million for the same period in 2023, showing a slight increase of 0.3%[37] - The bank's net profit attributable to shareholders was RMB 27,003 million for Q3 2024, compared to RMB 26,091 million in Q3 2023, marking a growth of 3.5%[38] - The bank's total profit for the first nine months of 2024 was RMB 81,748 million, slightly higher than RMB 81,524 million in the same period of 2023, indicating a growth of 0.3%[40] Asset and Liability Management - Total assets increased to RMB 16,746,265 million, a growth of 6.48% compared to the end of 2023[3] - Total liabilities increased to RMB 15,713,397 million, reflecting a 6.39% growth compared to the end of 2023[3] - The bank's customer deposits reached RMB 15,007,335 million, up from RMB 13,955,963 million at the end of 2023, marking a growth of 7.5%[36] - The total number of circulating shares held by Hong Kong Central Clearing (Agent) Co., Ltd. is 19,842,948,300 shares[10] - The total number of shares held by China Life Insurance Co., Ltd. is 1,187,533,205 shares, representing 1.20%[9] Capital Adequacy and Risk Management - The core Tier 1 capital adequacy ratio stood at 9.42% as of September 2024, slightly down from 9.53% at the end of 2023[7] - The bank's capital adequacy ratio was reported at 14.5%, maintaining a strong capital position to support future growth[36] - The total risk-weighted assets amounted to RMB 8,773,018 million as of September 30, 2024, up from RMB 8,613,974 million as of June 30, 2024, indicating an increase of 1.85%[47] - The liquidity coverage ratio is reported at 259.95% as of September 30, 2024, an increase from 242.91% as of June 30, 2024, indicating enhanced liquidity position[45] - The non-performing loan ratio stood at 0.86%, with a provision coverage ratio of 301.88% and a capital adequacy ratio of 14.23%[14] Loan and Deposit Growth - Customer loans reached RMB 8,779,373 million, reflecting a 7.74% increase year-over-year[3] - Retail loans increased by 5.69%, accounting for 40.31% of new loans, while corporate loans grew by 11.66%[14] - Long-term loans to the manufacturing sector rose by 14.15% compared to the end of the previous year[15] - Housing loans increased by 28.73 billion yuan in the first three quarters[15] - The balance of agricultural loans reached 2.22 trillion yuan, up by 187.28 billion yuan from the end of the previous year[16] Operational Strategy and Development - The report indicates that the company adheres to high-quality development and sustainable growth principles[13] - The company emphasizes the importance of capability building, innovation, and refined management as part of its operational strategy[13] - The company has established a differentiated competitive advantage to enhance its resilience in operations[13] - The bank plans to expand its digital banking services, aiming for a 20% increase in online customer engagement by the end of 2025[36] Cash Flow and Investment Activities - The net cash flow from operating activities for the first nine months of 2024 was RMB 280,989 million, a significant recovery from a negative cash flow of RMB 28,418 million in the same period of 2023[6] - Total cash inflow from investment activities was RMB 1,367,593 million, compared to RMB 1,314,614 million in the first nine months of 2023[43] - The company reported a total cash outflow from investment activities of RMB 1,659,938 million, slightly higher than RMB 1,602,491 million in the previous year[43] - The company issued perpetual bonds generating RMB 30,000 million in cash, while bond issuance brought in RMB 69,460 million[43] - Cash and cash equivalents at the end of September 2024 totaled RMB 373,563 million, down from RMB 258,135 million at the end of September 2023[43]