CZBANK(02016)2024-04-29 10:12Financial Performance - Operating income for Q1 2024 was RMB 18,414 million, representing a year-on-year growth of 16.60% from RMB 15,792 million in Q1 2023[5] - Net profit attributable to shareholders for Q1 2024 was RMB 5,913 million, up 5.12% from RMB 5,625 million in the same period last year[5] - The total comprehensive income for Q1 2024 was RMB 6,295 million, an increase of 22.9% compared to RMB 5,123 million in Q1 2023[22] - The net profit attributable to shareholders for Q1 2024 was RMB 6,181 million, up from RMB 5,010 million in Q1 2023, reflecting a growth of 23.3%[22] - Basic and diluted earnings per share for Q1 2024 were both RMB 0.22, a decrease from RMB 0.25 in Q1 2023[22] Asset and Liability Management - Total assets as of March 31, 2024, reached RMB 3,161,691 million, an increase of 0.57% compared to the end of 2023[4] - Total liabilities amounted to RMB 2,965,819 million as of March 31, 2024, compared to RMB 2,954,302 million at the end of 2023[24] - The bank's total equity attributable to shareholders rose to RMB 192,425 million as of March 31, 2024, compared to RMB 186,245 million at the end of 2023[24] Cash Flow Analysis - The net cash flow used in operating activities for Q1 2024 was RMB (90,099) million, a significant increase of 136.97% compared to RMB (38,022) million in Q1 2023[5] - Cash flow from operating activities showed a positive trend with net cash flow reflecting improved operational efficiency[29] - Cash flow from financing activities decreased to 50,099 in 2023, a decline of about 21.8%[29] Capital Adequacy and Ratios - The core tier 1 capital adequacy ratio as of March 31, 2024, was 8.60%, an increase from 8.22% at the end of 2023[6] - The capital adequacy ratio improved to 12.54%, an increase of 0.35 percentage points from the end of the previous year[15] Loan and Interest Management - The total loans and advances as of March 31, 2024, amounted to RMB 1,769,460 million, reflecting a growth of 3.10% from RMB 1,716,240 million at the end of 2023[4] - The net interest margin was 1.84%, a decrease of 0.26 percentage points year-on-year[15] - Interest income received increased to 21,120 in 2023, reflecting a growth of about 6.5%[29] Non-Interest Income - The non-interest income as a percentage of operating income increased to 35.82%, up by 10.20 percentage points from 25.62% in Q1 2023[5] - Non-interest income reached RMB 6.60 billion, a significant increase of RMB 2.55 billion, or 63.03% year-on-year, accounting for 35.82% of total operating income[15] Investment and Cash Management - The bank's cash and deposits with the central bank decreased to RMB 145,735 million from RMB 164,723 million[23] - The bank's financial investments measured at fair value through other comprehensive income were RMB 287,028 million, down from RMB 304,185 million at the end of 2023[23] - Cash received from the recovery of investments rose to 653,018 in 2023, marking an increase of approximately 14.9%[29] Non-Performing Loans - The non-performing loan balance was RMB 25.32 billion, an increase of RMB 0.73 billion, or 2.96% compared to the end of the previous year[15] - The provision for expected credit losses increased to RMB 5,379 million in Q1 2024 from RMB 3,894 million in Q1 2023[27]