光大银行(601818) - 2019 Q3 - 季度财报

Important Notice The Bank's Board of Directors, Board of Supervisors, and senior management guarantee the truthfulness, accuracy, and completeness of this quarterly report and assume legal responsibility - This report was approved by the Fourth Meeting of the Eighth Board of Directors on October 30, 2019[3] - The financial statements in this report are prepared in accordance with Chinese Accounting Standards and are unaudited[3] - The Bank's Board of Directors, Board of Supervisors, and senior management guarantee the truthfulness, accuracy, and completeness of this quarterly report and assume legal responsibility[3] Company Profile Key Financial Data During the reporting period, China Everbright Bank's total assets and net assets attributable to shareholders achieved steady growth, operating income and net profit significantly increased year-on-year, but net cash flow from operating activities turned negative Key Financial Data as of September 30, 2019, and for the Nine Months Ended September 30, 2019 | Item | Sep 30, 2019 / Jan-Sep 2019 | Dec 31, 2018 / Jan-Sep 2018 | Change from Year-End / Prior Period | | :-------------------------------- | :----------------------- | :----------------------- | :-------------------- | | Balance Sheet Items | | | | | Total Assets | 4,723,247 Million Yuan | 4,357,332 Million Yuan | 8.40% | | Net Assets Attributable to Shareholders | 379,268 Million Yuan | 321,488 Million Yuan | 17.97% | | Net Assets per Common Share | 5.99 RMB Yuan | 5.55 RMB Yuan | 7.93% | | Income Statement Items | | | | | Operating Income | 100,221 Million Yuan | 81,355 Million Yuan | 23.19% | | Net Profit | 31,466 Million Yuan | 27,798 Million Yuan | 13.20% | | Net Profit Attributable to Shareholders | 31,399 Million Yuan | 27,760 Million Yuan | 13.11% | | Net Profit Attributable to Shareholders Excluding Non-recurring Gains and Losses | 31,350 Million Yuan | 27,726 Million Yuan | 13.07% | | Basic Earnings per Share | 0.57 RMB Yuan | 0.50 RMB Yuan | 14.00% | | Diluted Earnings per Share | 0.51 RMB Yuan | 0.45 RMB Yuan | 13.33% | | Weighted Average Return on Net Assets | 13.15% | 12.66% | +0.49 percentage points | | Net Cash Flow from Operating Activities | (8,842) Million Yuan | 75,752 Million Yuan | Not Applicable | Non-recurring Gains and Losses for the Nine Months Ended September 30, 2019 | Item | Jan-Sep 2019 (Million RMB Yuan) | | :--------------------------------- | :------------------------- | | Net loss on disposal of non-current assets | (17) | | Incidental tax refunds and reductions | 3 | | Government grants recognized in current profit or loss | 53 | | Net loss from clearing dormant accounts | (5) | | Other non-recurring net gains and losses | 46 | | Income tax impact | (27) | | Total non-recurring gains and losses | 53 | | Of which: Non-recurring gains and losses attributable to shareholders | 49 | | Non-recurring gains and losses attributable to minority shareholders | 4 | Capital Adequacy Ratio and Leverage Ratio As of September 2019, the Bank's capital adequacy ratios met regulatory requirements, with consolidated and unconsolidated Common Equity Tier 1, Tier 1, and total capital adequacy ratios all increasing from the end of the previous year, and the leverage ratio also showing an upward trend Capital Adequacy Ratios (Consolidated and Unconsolidated) | Item | Sep 30, 2019 Consolidated | Sep 30, 2019 Unconsolidated | Dec 31, 2018 Consolidated | Dec 31, 2018 Unconsolidated | | :----------------- | :----------------- | :------------------- | :----------------- | :------------------- | | Net Common Equity Tier 1 Capital | 312,507 Million Yuan | 295,940 Million Yuan | 289,638 Million Yuan | 279,076 Million Yuan | | Net Tier 1 Capital | 377,504 Million Yuan | 360,847 Million Yuan | 319,659 Million Yuan | 309,023 Million Yuan | | Net Capital | 457,990 Million Yuan | 439,991 Million Yuan | 412,012 Million Yuan | 400,663 Million Yuan | | Risk-Weighted Assets | 3,411,279 Million Yuan | 3,317,995 Million Yuan | 3,166,668 Million Yuan | 3,091,958 Million Yuan | | Common Equity Tier 1 Capital Adequacy Ratio | 9.16% | 8.92% | 9.15% | 9.03% | | Tier 1 Capital Adequacy Ratio | 11.07% | 10.88% | 10.09% | 9.99% | | Capital Adequacy Ratio | 13.43% | 13.26% | 13.01% | 12.96% | Leverage Ratio | Item | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | | :----------------- | :------------ | :------------ | :------------ | :------------- | | Leverage Ratio | 6.75% | 6.01% | 6.13% | 6.29% | | Net Tier 1 Capital | 377,504 Million Yuan | 331,354 Million Yuan | 330,189 Million Yuan | 319,659 Million Yuan | | Adjusted On- and Off-Balance Sheet Assets | 5,595,877 Million Yuan | 5,516,302 Million Yuan | 5,385,120 Million Yuan | 5,079,718 Million Yuan | - The scope of consolidated capital adequacy ratio calculation includes all domestic and overseas branches and investee financial institutions within the scope of consolidation[8] Liquidity Coverage Ratio As of September 2019, the Bank's liquidity coverage ratio significantly increased to 136.49%, well above regulatory requirements, demonstrating strong liquidity management Liquidity Coverage Ratio | Item | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | | :------------------- | :------------ | :------------ | :------------ | :------------- | | Liquidity Coverage Ratio | 136.49% | 123.26% | 120.74% | 118.15% | | High-Quality Liquid Assets | 526,179 Million Yuan | 527,549 Million Yuan | 479,683 Million Yuan | 407,191 Million Yuan | | Net Cash Outflow in Next 30 Days | 385,499 Million Yuan | 427,994 Million Yuan | 397,301 Million Yuan | 344,642 Million Yuan | Differences in Financial Statements Prepared under CAS and IFRS As of the end of Q3 2019, there were no differences in net profit and net assets calculated by the Group under Chinese Accounting Standards and International Financial Reporting Standards - As of the end of Q3 2019, there were no differences in net profit and net assets calculated by the Group under Chinese Accounting Standards and International Financial Reporting Standards[10] Analysis of Operating Performance During the reporting period, the Group achieved steady growth in asset and liability scale, double-digit growth in operating income and net profit, with significant contribution from net interest income; asset quality improved with a decrease in non-performing loan ratio and an increase in provision coverage ratio, while capital adequacy ratios met regulatory requirements Overview of Operating Performance as of September 30, 2019, and for the Nine Months Ended September 30, 2019 | Indicator | Sep 30, 2019 / Jan-Sep 2019 | Dec 31, 2018 / Prior Period | Change | | :----------------------- | :----------------------- | :----------------------- | :-------------------- | | Asset and Liability Scale | | | | | Total Assets | 4,723.247 Billion Yuan | 4,357.332 Billion Yuan | Increased by 8.40% | | Total Liabilities | 4,342.928 Billion Yuan | 4,034.859 Billion Yuan | Increased by 7.64% | | Deposit Balance | 2,962.741 Billion Yuan | 2,571.961 Billion Yuan | Increased by 15.19% | | Total Loans and Advances | 2,657.253 Billion Yuan | 2,421.333 Billion Yuan | Increased by 9.74% | | Profitability | | | | | Net Profit | 31.466 Billion Yuan | 27.798 Billion Yuan | Increased by 13.20% | | Operating Income | 100.221 Billion Yuan | 81.355 Billion Yuan | Increased by 23.19% | | Net Interest Income | 75.283 Billion Yuan | 55.167 Billion Yuan | Increased by 36.46% | | Net Interest Margin | 2.29% | 1.88% | Increased by 41 BPs | | Net Fee and Commission Income | 18.184 Billion Yuan | 15.285 Billion Yuan | Increased by 18.97% | | Weighted Average Return on Net Assets | 13.15% | 12.66% | Increased by 0.49 percentage points | | Expenses | | | | | Operating Expenses | 62.918 Billion Yuan | 48.506 Billion Yuan | Increased by 29.71% | | Business and Management Expenses | 27.904 Billion Yuan | 23.849 Billion Yuan | Increased by 17.00% | | Credit Impairment Losses | 33.406 Billion Yuan | 23.326 Billion Yuan | Increased by 43.21% | | Asset Quality | | | | | Total Non-Performing Loans | 41.041 Billion Yuan | 38.421 Billion Yuan | Increased by 2.620 Billion Yuan | | Non-Performing Loan Ratio | 1.54% | 1.59% | Decreased by 0.05 percentage points | | Provision Coverage Ratio | 179.10% | 176.16% | Increased by 2.94 percentage points | | Capital Adequacy | | | | | Capital Adequacy Ratio | 13.43% | 13.01% | Increased by 0.42 percentage points | | Leverage Ratio | 6.75% | 6.29% | Increased by 0.46 percentage points | - Starting from 2019, the Group reclassified credit card installment income from fee and commission income to interest income and adjusted the net interest margin calculation method, with relevant data restated[11] Total Number of Shareholders and Top Ten Shareholders at Period-End As of the end of the reporting period, the Bank had 190,827 common shareholders, with a high concentration among the top ten, led by China Everbright Group Co., Ltd. and HKSCC Nominees Limited - Total number of common shareholders at the end of the reporting period: 189,922 A-share holders + 905 H-share holders = 190,827 holders[12] Top Ten Common Shareholders at the End of the Reporting Period | Shareholder Name | Shareholder Nature | Number of Shares (shares) | Share Class | Shareholding Ratio (%) | Number of Pledged or Frozen Shares | | :--------------------------------- | :------- | :------------ | :------- | :----------- | :------------------- | | China Everbright Group Co., Ltd. | Domestic Legal Person | 11,565,940,276 | A-share | 22.03 | - | | HKSCC Nominees Limited | Overseas Legal Person | 11,063,270,380 | H-share | 21.08 | Unknown | | Central Huijin Investment Ltd. | State | 10,250,916,094 | A-share | 19.53 | - | | China Everbright Holdings Co., Ltd. | Overseas Legal Person | 1,572,735,868 | A-share | 3.00 | - | | China Securities Finance Corporation Limited | Domestic Legal Person | 1,550,215,694 | A-share | 2.95 | - | | Hong Kong Securities Clearing Company Limited | Overseas Legal Person | 840,725,236 | A-share | 1.60 | - | | Shenergy (Group) Co., Ltd. | Domestic Legal Person | 766,002,403 | A-share | 1.46 | - | | Shanghai COSCO Shipping Enterprise Development Co., Ltd. | Domestic Legal Person | 723,999,875 | A-share | 1.38 | - | | Central Huijin Asset Management Co., Ltd. | Domestic Legal Person | 629,693,300 | A-share | 1.20 | - | | OCT Group Co., Ltd. | Domestic Legal Person | 4,200,000,000 | H-share | 8.00 | - | - China Everbright Group Co., Ltd. and OCT Group Co., Ltd. hold some H-shares with restricted sales conditions[14] - Disclosed related party relationships among major shareholders, such as Central Huijin Investment Ltd. with Everbright Group and China Reinsurance (Group) Corporation[15] Total Number of Preferred Shareholders and Top Ten Preferred Shareholders at Period-End At the end of the reporting period, the Bank had three classes of preferred shares (Everbright Preferred 1, 2, and 3), with detailed disclosures on the number of shareholders and top ten holdings for each class, primarily held by funds, banks, insurance, and trust institutions Everbright Preferred 1 (Preferred Stock Code 360013) - Total number of Everbright Preferred 1 shareholders at the end of the reporting period: 18 holders[16] Top Ten Everbright Preferred 1 Shareholders | Shareholder Name | Shareholder Nature | Number of Shares (shares) | Shareholding Ratio (%) | Share Class | Number of Pledged or Frozen Shares | | :--------------------------------- | :------- | :------------ | :----------- | :------- | :------------------- | | BOCOM Schroders Fund Management Co., Ltd. | Other | 37,750,000 | 18.88 | Domestic Preferred Share | - | | China CITIC Bank Corporation Limited | Other | 17,750,000 | 8.88 | Domestic Preferred Share | - | | CICC Fund Management Co., Ltd. | Other | 15,510,000 | 7.76 | Domestic Preferred Share | - | | BOC International Securities Co., Ltd. | Other | 15,500,000 | 7.75 | Domestic Preferred Share | - | | BOCOM International Trust Co., Ltd. | Other | 15,500,000 | 7.75 | Domestic Preferred Share | - | | Hwabao Trust Co., Ltd. | Other | 13,870,000 | 6.94 | Domestic Preferred Share | - | | China Resources SZITIC Trust Co., Ltd. | Other | 13,870,000 | 6.94 | Domestic Preferred Share | - | | CCB Trust Co., Ltd. | Other | 10,000,000 | 5.00 | Domestic Preferred Share | - | | Ping An Property & Casualty Insurance Company of China, Ltd. | Other | 10,000,000 | 5.00 | Domestic Preferred Share | - | | Ping An Life Insurance Company of China, Ltd. | Other | 10,000,000 | 5.00 | Domestic Preferred Share | - | - BOCOM Schroders Fund Management Co., Ltd. and BOCOM International Trust Co., Ltd. have related party relationships, as do Ping An Property & Casualty Insurance Company of China, Ltd. and Ping An Life Insurance Company of China, Ltd[16] Everbright Preferred 2 (Preferred Stock Code 360022) - Total number of Everbright Preferred 2 shareholders at the end of the reporting period: 23 holders[17] Top Ten Everbright Preferred 2 Shareholders | Shareholder Name | Shareholder Nature | Number of Shares (shares) | Shareholding Ratio (%) | Share Class | Number of Pledged or Frozen Shares | | :--------------------------------- | :------- | :------------ | :----------- | :------- | :------------------- | | Pramerica Everbright Asset Management Co., Ltd. | Other | 16,470,000 | 16.47 | Domestic Preferred Share | - | | Shanghai Xingquan Ruizhong Asset Management Co., Ltd. | Other | 13,090,000 | 13.09 | Domestic Preferred Share | - | | China Everbright Group Co., Ltd. | Other | 10,000,000 | 10.00 | Domestic Preferred Share | - | | China Life Insurance Company Limited | Other | 8,180,000 | 8.18 | Domestic Preferred Share | - | | Postal Savings Bank of China Co., Ltd. | Other | 7,200,000 | 7.20 | Domestic Preferred Share | - | | BOCOM Schroders Fund Management Co., Ltd. | Other | 6,540,000 | 6.54 | Domestic Preferred Share | - | | BOCOM International Trust Co., Ltd. | Other | 6,540,000 | 6.54 | Domestic Preferred Share | - | | China Resources SZITIC Trust Co., Ltd. | Other | 3,680,000 | 3.68 | Domestic Preferred Share | - | | BOC International Securities Co., Ltd. | Other | 3,270,000 | 3.27 | Domestic Preferred Share | - | | Huaan Future Asset Management (Shanghai) Co., Ltd. | Other | 3,270,000 | 3.27 | Domestic Preferred Share | - | - BOCOM Schroders Fund Management Co., Ltd. and BOCOM International Trust Co., Ltd. have related party relationships, and Everbright Group is also among the Bank's top ten common shareholders[17] Everbright Preferred 3 (Preferred Stock Code 360034) - Total number of Everbright Preferred 3 shareholders at the end of the reporting period: 20 holders[18] Top Ten Everbright Preferred 3 Shareholders | Shareholder Name | Shareholder Nature | Number of Shares (shares) | Shareholding Ratio (%) | Share Class | Number of Pledged or Frozen Shares | | :--------------------------------- | :------- | :------------ | :----------- | :------- | :------------------- | | Ping An Life Insurance Company of China, Ltd. | Other | 84,110,000 | 24.03 | Domestic Preferred Share | - | | China Life Insurance Company Limited | Other | 47,720,000 | 13.63 | Domestic Preferred Share | - | | CCB Trust Co., Ltd. | Other | 31,810,000 | 9.09 | Domestic Preferred Share | - | | New China Life Insurance Company Ltd. | Other | 27,270,000 | 7.79 | Domestic Preferred Share | - | | BOCOM Schroders Asset Management Co., Ltd. | Other | 27,270,000 | 7.79 | Domestic Preferred Share | - | | Ping An Property & Casualty Insurance Company of China, Ltd. | Other | 18,180,000 | 5.19 | Domestic Preferred Share | - | | CITIC-Prudential Life Insurance Company Limited | Other | 15,000,000 | 4.29 | Domestic Preferred Share | - | | Postal Savings Bank of China Co., Ltd. | Other | 13,630,000 | 3.89 | Domestic Preferred Share | - | | Bosera Asset Management Co., Ltd. | Other | 13,630,000 | 3.89 | Domestic Preferred Share | - | | Taiping Asset Management Co., Ltd. | Other | 9,090,000 | 2.60 | Domestic Preferred Share | - | - Ping An Life Insurance Company of China, Ltd. and Ping An Property & Casualty Insurance Company of China, Ltd. have related party relationships, as do Taiping Asset Management Co., Ltd. and Taiping Life Insurance Co., Ltd[18] Significant Events Significant Changes in Key Financial Statement Items and Financial Indicators and Their Reasons During the reporting period, several of the Bank's balance sheet and income statement items experienced significant changes, primarily influenced by derivative revaluation, increased bond investments, implementation of new lease accounting standards, preferred share issuance, and increased interest-earning assets and improved net interest margin Significant Changes in Balance Sheet Items and Their Reasons | Item | Sep 30, 2019 (Million Yuan) | Dec 31, 2018 (Million Yuan) | Change (%) | Main Reason for Change | | :------------------------------------------------ | :---------------------- | :---------------------- | :--------- | :------------------- | | Derivative Financial Assets | 25,630 | 15,212 | 68.49 | Increase in positive fair value of derivative products | | Financial Assets Held Under Resale Agreements | 70,677 | 37,773 | 87.11 | Increase in bonds purchased under resale agreements | | Debt Instruments at Fair Value Through Other Comprehensive Income | 215,781 | 153,987 | 40.13 | Increase in bond investments | | Right-of-Use Assets | 11,485 | Not Applicable | Not Applicable | New balance sheet item due to implementation of lease accounting standards | | Deferred Income Tax Assets | 17,151 | 10,794 | 58.89 | Increase in deferred income tax assets | | Other Assets | 48,188 | 19,182 | 151.21 | Increase in unsettled funds | | Derivative Financial Liabilities | 24,297 | 14,349 | 69.33 | Increase in negative fair value of derivative products | | Financial Assets Sold Under Repurchase Agreements | 20,756 | 40,411 | -48.64 | Decrease in bonds sold under repurchase agreements | | Taxes Payable | 9,936 | 5,666 | 75.36 | Increase in income tax payable | | Lease Liabilities | 10,936 | Not Applicable | Not Applicable | New balance sheet item due to implementation of lease accounting standards | | Other Liabilities | 59,170 | 42,062 | 40.67 | Increase in long-term borrowings of subsidiaries | | Other Equity Instruments | 70,067 | 35,108 | 99.58 | Issuance of RMB 35 billion preferred shares | | Other Comprehensive Income | 2,978 | 1,655 | 79.94 | Increase in fair value revaluation of debt instruments at fair value through other comprehensive income | Significant Changes in Income Statement Items and Their Reasons | Item | Jan-Sep 2019 (Million Yuan) | Jan-Sep 2018 (Restated) (Million Yuan) | Change (%) | Main Reason for Change | | :----------------- | :------------------- | :--------------------------- | :--------- | :------------------- | | Net Interest Income | 75,283 | 55,167 | 36.46 | Increase in interest-earning assets and improvement in net interest margin | | Investment Income | 6,021 | 9,001 | -33.11 | Decrease in fund income and investment scale | | Net Gains/(Losses) from Changes in Fair Value | (1,006) | 1,062 | -194.73 | Disposal of investments with floating gains | | Net Exchange Gains | 1,171 | 465 | 151.83 | Increase in net exchange gains | | Credit Impairment Losses | (33,406) | (23,326) | 43.21 | Increase in provision accruals | - Effective January 1, 2019, the Group reclassified credit card installment income from fee and commission income to interest income and restated comparable 2018 data in accordance with the Ministry of Finance's "2018 Financial Statement Format for Financial Enterprises"[21] Progress of Significant Events During the reporting period, the Bank completed its second preferred share issuance, raising RMB 35 billion, and is progressing with the issuance of perpetual bonds; the Board of Directors and Board of Supervisors' re-election was completed, and its wholly-owned subsidiary, Everbright Wealth Management Co., Ltd., officially commenced operations as the first wealth management subsidiary of a joint-stock commercial bank in China Issuance of Second Preferred Shares - In July 2019, the Bank completed the issuance of 350 million preferred shares, raising RMB 35 billion with a coupon dividend rate of 4.80%[22] Issuance of Perpetual Bonds - The Bank has approved a proposal to issue perpetual bonds not exceeding RMB 40 billion or its equivalent in foreign currency, which is currently in progress as of the report disclosure date[22][23] Completion of Board of Directors and Board of Supervisors Re-election - In July 2019, the Bank elected members for its Eighth Board of Directors (17 members) and Board of Supervisors (9 members)[23] - The appointments of new directors Lu Hong, Dou Hongquan, Shao Ruiqing, and Hong Yongmiao have been approved by the CBIRC[23] Everbright Wealth Management Co., Ltd. Commences Operations - In September 2019, the Bank's wholly-owned subsidiary, Everbright Wealth Management Co., Ltd., was approved to commence operations with a registered capital of RMB 5 billion and registered in Qingdao[23] - The company officially commenced operations on September 26, 2019, becoming the first wealth management subsidiary of a joint-stock commercial bank in China to open[23] Overdue Unfulfilled Commitments During the reporting period, the Bank had no overdue unfulfilled commitments - During the reporting period, the Bank had no overdue unfulfilled commitments[23] Warning on Cumulative Net Profit Changes The Bank has not issued any warning regarding potential cumulative net profit loss or significant changes compared to the prior year from the beginning of the year to the end of the next reporting period - The Bank has not issued any warning regarding potential cumulative net profit loss or significant changes compared to the prior year from the beginning of the year to the end of the next reporting period[23] Changes in Accounting Policies The Bank adopted new lease accounting standards from January 1, 2019, and non-monetary asset exchange and debt restructuring standards from June 10 and June 17, 2019, respectively; these changes did not significantly impact the Bank's financial position or operating results - The Bank adopted "Enterprise Accounting Standard No. 21 - Leases" issued by the Ministry of Finance effective January 1, 2019[23][24] - The Bank adopted "Enterprise Accounting Standard No. 7 - Non-monetary Asset Exchange" and "Enterprise Accounting Standard No. 12 - Debt Restructuring" effective June 10, 2019, and June 17, 2019, respectively[24] - The implementation of the aforementioned accounting standards did not have a significant impact on the Bank's financial position and operating results[24] Other Significant Events During the reporting period, the Bank had no other significant events - During the reporting period, the Bank had no other significant events[24] Publication of Quarterly Report The Bank's "2019 Third Quarterly Report" is simultaneously published on the websites of the Shanghai Stock Exchange, The Stock Exchange of Hong Kong Limited, and the Bank - The Bank's "2019 Third Quarterly Report" is simultaneously published on the websites of the Shanghai Stock Exchange, The Stock Exchange of Hong Kong Limited, and the Bank[25] Appendix Balance Sheet As of September 30, 2019, the Group's total assets reached RMB 4,723.247 billion, total liabilities RMB 4,342.928 billion, and total shareholders' equity RMB 380,319 million Unaudited Balance Sheet (The Group) | Item | Sep 30, 2019 (Million Yuan) | Dec 31, 2018 (Million Yuan) | | :------------------------------------------------ | :---------------------- | :---------------------- | | Assets | | | | Cash and Balances with Central Banks | 349,976 | 366,575 | | Due from Banks and Other Financial Institutions | 50,559 | 41,005 | | Precious Metals | 15,726 | 23,628 | | Loans to Banks and Other Financial Institutions | 73,460 | 96,685 | | Derivative Financial Assets | 25,630 | 15,212 | | Financial Assets Held Under Resale Agreements | 70,677 | 37,773 | | Loans and Advances to Customers | 2,594,529 | 2,361,278 | | Receivables from Finance Leases | 78,157 | 63,333 | | Financial Investments | 1,366,187 | 1,301,080 | | Long-term Equity Investments | - | - | | Fixed Assets | 18,904 | 18,241 | | Right-of-Use Assets | 11,485 | - | | Intangible Assets | 1,337 | 1,265 | | Goodwill | 1,281 | 1,281 | | Deferred Income Tax Assets | 17,151 | 10,794 | | Other Assets | 48,188 | 19,182 | | Total Assets | 4,723,247 | 4,357,332 | | Liabilities | | | | Borrowings from Central Banks | 238,503 | 267,193 | | Deposits from Banks and Other Financial Institutions | 425,182 | 490,091 | | Borrowed Funds | 177,728 | 152,037 | | Financial Liabilities at Fair Value Through Profit or Loss | 72 | 354 | | Derivative Financial Liabilities | 24,297 | 14,349 | | Financial Assets Sold Under Repurchase Agreements | 20,756 | 40,411 | | Customer Deposits | 2,962,741 | 2,571,961 | | Employee Benefits Payable | 10,119 | 8,028 | | Taxes Payable | 9,936 | 5,666 | | Lease Liabilities | 10,936 | - | | Provisions | 2,439 | 2,258 | | Debt Instruments Issued | 401,049 | 440,449 | | Other Liabilities | 59,170 | 42,062 | | Total Liabilities | 4,342,928 | 4,034,859 | | Shareholders' Equity | | | | Share Capital | 52,489 | 52,489 | | Other Equity Instruments | 70,067 | 35,108 | | Capital Reserve | 53,533 | 53,533 | | Other Comprehensive Income | 2,978 | 1,655 | | Surplus Reserve | 24,371 | 24,371 | | General Risk Reserve | 54,037 | 54,036 | | Retained Earnings | 121,793 | 100,296 | | Total Equity Attributable to Shareholders of the Bank | 379,268 | 321,488 | | Minority Interests | 1,051 | 985 | | Total Shareholders' Equity | 380,319 | 322,473 | | Total Liabilities and Shareholders' Equity | 4,723,247 | 4,357,332 | Income Statement For the nine months ended September 30, 2019, the Group achieved total operating income of RMB 100.221 billion and net profit of RMB 31.466 billion, with a net profit of RMB 10.982 billion for the third quarter alone Unaudited Income Statement (The Group, for the Nine Months Ended September 30, 2019) | Item | Jan-Sep 2019 (Million Yuan) | Jan-Sep 2018 (Restated) (Million Yuan) | | :--------------------------------- | :------------------- | :--------------------------- | | Total Operating Income | 100,221 | 81,355 | | Total Operating Expenses | (62,918) | (48,506) | | Operating Profit | 37,303 | 32,849 | | Total Profit | 37,335 | 32,876 | | Net Profit | 31,466 | 27,798 | | Net Profit Attributable to Shareholders of the Bank | 31,399 | 27,760 | | Minority Interests | 67 | 38 | | Total Other Comprehensive Income | 1,324 | 1,418 | | Total Comprehensive Income | 32,790 | 29,216 | | Basic Earnings per Share (RMB Yuan/share) | 0.57 | 0.50 | | Diluted Earnings per Share (RMB Yuan/share) | 0.51 | 0.45 | Unaudited Income Statement (The Group, for the Three Months Ended September 30, 2019) | Item | Jul-Sep 2019 (Million Yuan) | Jul-Sep 2018 (Restated) (Million Yuan) | | :--------------------------------- | :------------------- | :--------------------------- | | Total Operating Income | 34,082 | 29,124 | | Total Operating Expenses | (21,215) | (17,893) | | Operating Profit | 12,867 | 11,231 | | Total Profit | 12,853 | 11,216 | | Net Profit | 10,982 | 9,697 | | Net Profit Attributable to Shareholders of the Bank | 10,955 | 9,685 | | Minority Interests | 27 | 12 | | Total Other Comprehensive Income | 684 | 758 | | Total Comprehensive Income | 11,666 | 10,455 | | Basic Earnings per Share (RMB Yuan/share) | 0.20 | 0.18 | | Diluted Earnings per Share (RMB Yuan/share) | 0.18 | 0.16 | Cash Flow Statement For the nine months ended September 30, 2019, the Group's net cash flow from operating activities was RMB -8.842 billion, net cash outflow from investing activities was RMB 4.496 billion, and net cash outflow from financing activities was RMB 28.444 billion Unaudited Cash Flow Statement (The Group, for the Nine Months Ended September 30, 2019) | Item | Jan-Sep 2019 (Million Yuan) | Jan-Sep 2018 (Restated) (Million Yuan) | | :--------------------------------- | :------------------- | :--------------------------- | | Net Cash Flow from Operating Activities | (8,842) | 75,752 | | Net Cash Flow from Investing Activities | (4,496) | 25,893 | | Net Cash Flow from Financing Activities | (28,444) | (102,484) | | Effect of Exchange Rate Changes on Cash and Cash Equivalents | 1,605 | 2,162 | | Net (Decrease)/Increase in Cash and Cash Equivalents | (40,177) | 1,323 | | Add: Cash and Cash Equivalents at January 1 | 187,680 | 147,923 | | Cash and Cash Equivalents at September 30 | 147,503 | 149,246 |