CCB(601939)2024-04-29 11:36Financial Performance - Operating income for Q1 2024 was RMB 200,928 million, a decrease of 2.97% compared to RMB 207,076 million in Q1 2023[6] - Net profit for Q1 2024 was RMB 86,907 million, down 2.51% from RMB 89,147 million in Q1 2023[6] - The net profit attributable to shareholders was RMB 86,817 million, a decrease of 2.17% from RMB 88,743 million in the same period last year[6] - The annualized weighted average return on equity decreased to 11.59%, down 1.27 percentage points from 12.86% in Q1 2023[6] - Net interest income is 149.73 billion yuan, a decrease of 2.19% year-on-year, with a net interest margin of 1.57%[39] - Net profit for the first quarter of 2024 was CNY 86.91 billion, a decrease of 2.51% year-on-year, with an annualized return on average assets of 0.89%[64] - The group's total profit before tax was RMB 102,307 million, down from RMB 104,705 million in the same period of 2023[74] - The group reported a basic and diluted earnings per share of RMB 0.35 for the three months ended March 31, 2024, unchanged from the same period in 2023[76] Asset and Liability Management - Total assets as of March 31, 2024, reached RMB 39,729,281 million, an increase of 3.66% from RMB 38,324,826 million at the end of 2023[6] - Total liabilities reached CNY 36.47 trillion, up by CNY 1.31 trillion, or 3.74% from the end of last year[62] - The balance of corporate housing rental loans was RMB 348,615 million, serving over 1,600 clients, with a specific focus on affordable rental housing projects[17] - The total amount of loans and advances issued reached RMB 25,030,899 million, an increase of 4.90% from RMB 23,861,600 million[18] - The bank's domestic loans and advances amounted to RMB 24,149,319 million, reflecting a growth of 4.97% from RMB 23,006,496 million[18] - The total loans and advances issued increased by RMB 1.17 trillion compared to the end of the previous year, reaching RMB 24,224,226 million[55] - The balance of green loans reached 4.45 trillion yuan, an increase of 14.56% compared to the end of the previous year[30] Cash Flow and Investment Activities - The net cash flow from operating activities was RMB 209,335 million, a significant decrease of 43.54% compared to RMB 370,787 million in Q1 2023[26] - The group's cash flow from operating activities totaled RMB 2,509,636 million, compared to RMB 2,790,346 million in the first quarter of 2023, indicating a decrease in cash inflow[53] - The net cash flow from operating activities for the group was RMB 209,335 million for the three months ended March 31, 2024, compared to RMB 370,787 million for the same period in 2023, representing a decrease of approximately 43.4%[90] - Cash inflow from investment activities totaled RMB 593,509 million for the three months ended March 31, 2024, up from RMB 336,348 million in the same period of 2023, indicating an increase of about 76.6%[91] - The net cash flow from investment activities was negative at RMB 135,041 million for the three months ended March 31, 2024, compared to negative RMB 268,382 million for the same period in 2023, showing an improvement of about 49.7%[91] Shareholder Information - As of March 31, 2024, the total number of ordinary shareholders is 306,551, with H-share shareholders at 38,449 and A-share shareholders at 268,102[27] - The top 10 ordinary shareholders hold a total of 142,590,494,651 shares, representing 57.03% of the total[27] - The group's equity attributable to shareholders totaled RMB 3,262,528 million as of March 31, 2024, compared to RMB 3,172,074 million at the end of 2023, reflecting an increase of 2.84%[47] Impairment and Non-Performing Loans - The bank's non-performing loans amount to 339.33 billion yuan, with a non-performing loan ratio of 1.36%, a decrease of 0.01 percentage points from the end of the previous year[36] - The non-performing loan ratio stood at 1.36%, a decrease of 0.01 percentage points from the end of the previous year, indicating stable asset quality[55] - Impairment losses totaled CNY 48.15 billion, with credit impairment losses at CNY 48.16 billion[66] - The group reported a credit impairment loss of RMB 48,157 million for the three months ended March 31, 2024, compared to RMB 51,577 million in the same period of 2023[82] Tax and Regulatory Compliance - The bank's income tax expense is 15.40 billion yuan, a decrease of 1.58 billion yuan year-on-year, with an effective tax rate of 15.05%[41] - The capital adequacy ratio was 19.34%, with a Tier 1 capital ratio of 15.04% and a core Tier 1 capital ratio of 14.11%, all meeting regulatory requirements[64] Digital Transformation and Customer Engagement - The bank is actively supporting the digital transformation and enhancing its digital supply capabilities to align with the construction of a digital China[14] - The number of online personal users reached 547 million, with 414 million personal customers in mobile banking[32] - Inclusive finance loan balance reached CNY 3.28 trillion, an increase of CNY 234.9 billion compared to the end of last year, with 3.41 million customers, up by 240,100[56] - Agricultural loan balance stood at CNY 4.21 trillion, increasing by CNY 387.6 billion from the end of last year, with "Yunong Tong" app registered users reaching 15.13 million, up by 1.46 million[56]