Bank of Chengdu(SH:601838)2018-04-25 16:00Financial Performance - The total operating income for 2017 was CNY 9,654,118 thousand, representing an increase of 11.99% compared to 2016[21]. - The net profit attributable to shareholders of the parent company reached CNY 3,908,578 thousand, a growth of 51.64% year-on-year[21]. - The net cash flow from operating activities surged by 219.23% to CNY 42,607,093 thousand in 2017[21]. - The total assets increased by 20.39% to CNY 434,539,478 thousand compared to the previous year[21]. - The basic earnings per share rose to CNY 1.20, marking a 51.90% increase from 2016[23]. - The bank's total liabilities reached CNY 409,515,036 thousand, up by 20.81% from the previous year[21]. - The company achieved a deposit scale of CNY 312.8 billion, with a growth rate of 15.4%, surpassing the national average of 7.6%[45]. - The company reported a net profit of RMB 390,857.8 million for 2017, resulting in a cash dividend payout ratio of 25.88%[192]. Risk Management - The company has effectively managed various operational risks, including credit risk, market risk, liquidity risk, and operational risk[14]. - The company has no foreseeable significant risks and has taken measures to control various operational risks[13]. - The non-performing loan ratio improved to 1.69% from 2.21% in 2016[25]. - The non-performing loan ratio stood at 1.74%, with a non-performing loan balance of CNY 1.71 trillion, indicating effective risk management[44]. - The company has established a clear organizational structure for credit risk management under the board of directors, ensuring relative independence in risk management[150]. - The company has implemented a credit risk application scoring card project, enhancing the standardization and process management of retail credit risk[152]. - The bank's focus on improving judicial recovery efficiency led to faster processing of litigation cases related to non-performing loans[124]. - The bank's strategy included enhancing marketing efforts for asset disposal to improve the realization rate of collateral[124]. Awards and Recognition - The company received multiple awards in 2017, including being ranked 313th among the world's top 1,000 banks by "The Banker" magazine based on tier 1 capital[19]. - The company was recognized as the "Best Regional Commercial Bank" in 2017 by "Daily Economic News" and received several awards for its community banking services[19]. - The company has been awarded for its contributions to social responsibility and financial services, including the "Best Microfinance Service Bank" in 2017[19]. - The company has a strong focus on technological development, having received the "Annual Banking Technology Development Award" in 2016[19]. Operational Efficiency - The company has maintained a standard unqualified audit opinion from Ernst & Young Huaming Accounting Firm for its financial reports[9]. - The company has established a customer service center that was recognized as a "Youth Civilization Unit" in Sichuan Province[19]. - The company has developed core liability businesses to enhance funding stability and maintain a reasonable asset-liability structure[160]. - The company has strengthened its information technology governance by revising over 10 IT-related policies and enhancing its risk management framework[170]. Market Expansion and Development - The company has a commitment to expanding its market presence and enhancing its service offerings, as indicated by its various awards and recognitions[19]. - The company expanded its international business, increasing international settlement volume by 13% year-over-year, with 19 new strategic customers acquired[50]. - The company has plans for market expansion and new product development in the consumer finance sector[105]. - The bank's strategy includes deepening innovative systems to promote the growth of emerging businesses and optimizing branch layouts to support sustainable development[184]. Dividend Policy - The company reported a total cash dividend distribution of RMB 1,011.43 million, with a proposed cash dividend of RMB 2.8 per 10 shares based on a total share capital of 3,612,251,334 shares[9]. - The bank aims to extract 10% of the audited net profit for 2017 as statutory surplus reserves, totaling RMB 39,070 million[187]. - The bank's cash dividend policy emphasizes stable and continuous returns to investors while ensuring sustainable development[186]. Audit and Compliance - Chengdu Bank reported a standard unqualified audit opinion from Ernst & Young Hua Ming Accounting Firm for the fiscal year 2017[199]. - The remuneration for the auditing firm was set at 6.5 million yuan for the 2017 financial report audit[200]. - There were no non-operating fund occupations by controlling shareholders and their related parties reported for the year[198]. - The company adheres to regulations set by the China Securities Regulatory Commission regarding shareholding and transfer[197].