CNCB(601998)2024-04-29 11:25Financial Performance - Net profit attributable to shareholders for Q1 2024 was RMB 19.19 billion, a slight increase of 0.25% year-on-year[7]. - Operating income for Q1 2024 was RMB 53.77 billion, representing a year-on-year growth of 4.69%[7]. - The net profit for the group in Q1 2024 was RMB 19,391 million, slightly down from RMB 19,445 million in Q1 2023, a decrease of 0.3%[49]. - The total operating income for the group in Q1 2024 was RMB 53,770 million, an increase from RMB 51,363 million in Q1 2023, representing a growth of 3%[48]. - The group’s investment income surged to RMB 8,149 million in Q1 2024, compared to RMB 3,189 million in Q1 2023, marking a significant increase of 155%[48]. - The net interest income decreased to RMB 34,960 million in Q1 2024 from RMB 36,626 million in Q1 2023, a decline of 5%[48]. Asset and Liability Management - As of March 31, 2024, total assets reached RMB 9,070.31 billion, a 0.20% increase from the end of 2023[5]. - The total liabilities decreased by 0.39% to RMB 8,285.63 billion compared to the end of 2023[5]. - CITIC Bank's total liabilities amounted to RMB 8,285,630 million as of March 31, 2024, compared to RMB 8,317,809 million at the end of 2023[45]. - The total assets of the group as of March 31, 2024, reached RMB 9,070,311 million, compared to RMB 9,052,484 million at the end of 2023, reflecting a growth of 0.2%[46]. - The total liabilities and equity of the bank reached RMB 9,070,311 million as of March 31, 2024, up from RMB 8,565,245 million at the end of 2023, an increase of 5.9%[46]. Loan and Deposit Growth - The total amount of loans and advances was RMB 5,582.31 billion, reflecting a 1.53% increase compared to the end of 2023[5]. - Customer deposits totaled RMB 5,417.09 billion, a 0.35% increase from the end of 2023[5]. - The bank's total number of personal clients reached 139 million, an increase of 2.0591 million from the end of the previous year[22]. - The bank's total number of corporate clients reached 1.1868 million, an increase of 29,200 from the end of the previous year[22]. - The balance of inclusive small and micro enterprise loans was CNY 572.690 billion, an increase of CNY 27.614 billion, with a growth rate higher than that of all loans[17]. Risk Management and Asset Quality - As of March 31, 2024, the bank's non-performing loan balance is CNY 656.37 billion, an increase of CNY 8.37 billion from the end of the previous year, with a non-performing loan ratio of 1.18%[26]. - The bank's provision coverage ratio is 207.79%, up by 0.2 percentage points from the end of the previous year, while the loan provision ratio is 2.44%, down by 0.01 percentage points[26]. - The bank has implemented a comprehensive risk management system, focusing on optimizing credit structures and enhancing risk management capabilities[24]. - The bank's digital risk control tools are being applied across various credit processes, including pre-loan approval and post-loan management[24]. Shareholder Structure - The total number of ordinary shareholders is 128,730, with 102,330 being A-share holders and 26,400 being H-share holders[33]. - China CITIC Financial Holdings Limited holds 67.05% of the shares, making it the largest shareholder[33]. - The top ten shareholders collectively hold 68.70% of the total shares, indicating a high concentration of ownership[35]. - The total number of preferred shareholders is 39, with China Mobile Communications Group Co., Ltd. being the largest preferred shareholder, holding 43,860,000 shares (12.53%) of the total[38]. - The report indicates that there are no preferred shareholders with voting rights restored[38]. Cash Flow and Liquidity - The net cash flow from operating activities showed a significant outflow of RMB 333.14 billion, compared to an outflow of RMB 12.73 billion in the same period last year[10]. - The liquidity coverage ratio as of March 31, 2024, is 128.99%, down from 167.48% on December 31, 2023, but still above the regulatory requirement of 100%[32]. - The net cash flow from operating activities for the group in Q1 2024 was negative RMB 333,139 million, compared to a negative RMB 12,733 million in Q1 2023[51]. - The total cash inflow from operating activities was RMB 210,205 million in Q1 2024, down from RMB 497,241 million in Q1 2023[51]. - The cash and cash equivalents at the end of Q1 2024 were RMB 181,659 million, down from RMB 309,320 million at the end of Q1 2023[52].