CCB(601939)2024-10-30 10:02Profit and Earnings - Net profit attributable to shareholders of the bank for the third quarter was RMB 91.45 billion, an increase of 3.79% year-on-year[4] - The bank's annualized weighted average return on equity for the third quarter was 11.46%, a decrease of 0.78 percentage points year-on-year[4] - The bank's basic and diluted earnings per share for the first nine months of 2024 were RMB 1.01, a decrease of 0.98% year-on-year[4] - Net profit for the first nine months of 2024 reached RMB 257.112 billion, with a year-on-year growth of 0.65%[22] - Net profit for the nine months ended September 30, 2024, was RMB 257,112 million, compared to RMB 255,440 million in the same period of 2023[30] - Net profit for the group reached RMB 257,112 million for the first nine months of 2024, compared to RMB 255,440 million in the same period of 2023[39] - The bank's net profit for the first nine months of 2024 was RMB 243,121 million, slightly lower than the RMB 247,818 million recorded in the same period of 2023[39] Assets and Liabilities - The bank's total assets as of September 30, 2024, were RMB 40.923 trillion, an increase of 6.78% compared to the end of 2023[4] - Total assets of the group reached 40.92 trillion yuan, an increase of 2.60 trillion yuan or 6.78% compared to the end of the previous year[17] - Total liabilities increased by 2.43 trillion yuan or 6.90% to 37.58 trillion yuan compared to the end of the previous year[19] - Total assets as of September 30, 2024, amounted to RMB 40.923 trillion, an increase from RMB 38.325 trillion at the end of 2023[25] - Total liabilities as of September 30, 2024, were RMB 37.580 trillion, up from RMB 35.153 trillion at the end of 2023[26] - Shareholders' equity as of September 30, 2024, stood at RMB 3.343 trillion, compared to RMB 3.172 trillion at the end of 2023[27] - The bank's equity attributable to shareholders as of September 30, 2024, was RMB 3.320 trillion, an increase of 5.42% compared to the end of 2023[4] - Shareholders' equity rose by 171.251 billion yuan or 5.40% to 3.34 trillion yuan[20] Loans and Advances - Total loans and advances amounted to 25.75 trillion yuan, up 1.89 trillion yuan or 7.92% from the end of the previous year[17] - Non-performing loans stood at 346.906 billion yuan, with a non-performing loan ratio of 1.35%, down 0.02 percentage points from the end of the previous year[18] - The provision coverage ratio was 237.03%, and the loan-to-deposit ratio was 3.20%[18] - Strategic emerging industry loans reached 2.74 trillion yuan, and loans to technology-based enterprises totaled 1.82 trillion yuan, both showing rapid growth[11] - Green loan balance was 4.58 trillion yuan, up 17.95% from the end of the previous year[11] - Net increase in loans and advances for the nine months ended September 30, 2024, was RMB 1,971 million, compared to no net increase in the same period of 2023[36] Cash Flow and Operating Activities - Total operating cash flow for the first nine months of 2024 was RMB 954.869 billion, a significant increase of 100.10% compared to the same period last year[6] - Net cash flow from operating activities for the nine months ended September 30, 2024, was RMB 954,869 million, a significant increase from RMB 477,206 million in the same period of 2023, reflecting a 100.1% growth[36] - Operating cash flow for the group increased significantly to RMB 954,869 million in the first nine months of 2024, compared to RMB 477,206 million in the same period of 2023[39] - Net cash flow used in investing activities for the nine months ended September 30, 2024, was RMB 470,810 million, a decrease from RMB 712,081 million in the same period of 2023, indicating a 33.9% reduction[37] - Net cash flow used in financing activities for the nine months ended September 30, 2024, was RMB 19,844 million, compared to RMB 83,196 million in the same period of 2023, showing a 76.1% decrease[38] - Cash and cash equivalents at the end of September 30, 2024, were RMB 1,385,789 million, a 64.7% increase from RMB 841,116 million at the end of September 30, 2023[38] - The group's cash and cash equivalents balance at the end of September 2024 was RMB 1,385,789 million, up from RMB 841,116 million at the end of September 2023[40] - Net increase in cash and cash equivalents for the group was RMB 460,326 million in the first nine months of 2024, compared to a net decrease of RMB 302,536 million in the same period of 2023[40] Interest and Non-Interest Income - The bank's net interest income for the third quarter was RMB 183.057 billion, a decrease of 2.72% year-on-year[4] - Net interest income decreased by 5.89% year-on-year to RMB 440.817 billion, with a net interest margin of 1.52%[22] - Non-interest income increased by 6.82% year-on-year to RMB 128.205 billion, driven by factors such as exchange rate and capital market fluctuations[22] - Net interest income for the nine months ended September 30, 2024, was RMB 569,022 million, a decrease from RMB 588,440 million in the same period of 2023[29] - Net fee and commission income for the nine months ended September 30, 2024, was RMB 85,144 million, down from RMB 94,907 million in the same period of 2023[29] - Interest income from investment securities and net gains from disposal amounted to RMB 222,780 million for the group in the first nine months of 2024, up from RMB 206,197 million in 2023[39] Shareholders and Dividends - The number of ordinary shareholders as of September 30, 2024, was 313,362, including 37,876 H-share shareholders and 275,486 A-share shareholders[7] - Central Huijin Investment Ltd. is the largest shareholder, holding 57.03% of the H-shares[7] - The group declared a cash dividend of RMB 0.400 per share for 2023, totaling approximately RMB 100.004 billion[23] - The group plans to issue an interim cash dividend of RMB 0.197 per share for 2024, totaling approximately RMB 49.252 billion[23] Comprehensive Income and Other Financial Metrics - Total comprehensive income for the nine months ended September 30, 2024, was RMB 275,345 million, compared to RMB 258,124 million in the same period of 2023, representing a 6.7% increase[33] - Other comprehensive income for the nine months ended September 30, 2024, was RMB 18,233 million, compared to RMB 2,684 million in the same period of 2023[31] - The fair value change of debt instruments classified as fair value through other comprehensive income was RMB 12,138 million for the nine months ended September 30, 2024, compared to RMB 3,686 million in the same period of 2023[32] - The credit loss provision for debt instruments classified as fair value through other comprehensive income was RMB 18,297 million for the nine months ended September 30, 2024, compared to RMB 1,218 million in the same period of 2023[32] - The foreign currency translation difference for the nine months ended September 30, 2024, was a loss of RMB 1,497 million, compared to a gain of RMB 5,738 million in the same period of 2023[32] - The net amount reclassified from other comprehensive income to profit or loss due to the sale of financial assets was RMB 359 million for the nine months ended September 30, 2024, compared to a loss of RMB 360 million in the same period of 2023[32] Operating Expenses and Impairment Losses - Operating expenses for the nine months ended September 30, 2024, were RMB 497,318 million, an increase from RMB 468,166 million in the same period of 2023[29] - Credit impairment losses and other asset impairment losses amounted to RMB 109,583 million for the group in the first nine months of 2024, down from RMB 124,449 million in 2023[39] Deposits and Placements - Total deposits grew by 901.253 billion yuan or 3.26% to 28.56 trillion yuan[19] - Net increase in deposits and placements from banks and other financial institutions for the nine months ended September 30, 2024, was RMB 2,209,613 million, a decrease from RMB 2,606,644 million in the same period of 2023, reflecting a 15.2% decline[35] User Base and Capital Adequacy - The "Twin Stars" user base reached 513 million, with 159 million financial transaction users in the current year, a year-on-year increase of 3.24%[17] - Capital adequacy ratio of the group was 19.35%, with a Tier 1 capital adequacy ratio of 15.00% and a core Tier 1 capital adequacy ratio of 14.10% as of September 30, 2024[21] Non-Recurring Gains and Losses - Non-recurring gains and losses for the third quarter amounted to RMB 220 million, with RMB 219 million affecting the net profit attributable to shareholders[5] Operating Receivables and Payables - The group's operating receivables increased by RMB 1,620,678 million in the first nine months of 2024, a significant improvement from the increase of RMB 2,641,775 million in the same period of 2023[39] - Operating payables for the group increased by RMB 2,412,851 million in the first nine months of 2024, compared to an increase of RMB 2,921,921 million in the same period of 2023[39] Interest Expense on Issued Bonds - Interest expense on issued bonds for the group rose to RMB 23,457 million in the first nine months of 2024, up from RMB 20,365 million in 2023[39]