2021-09-16 22:21Dividends and Capital Management - The company distributed cash dividends of RMB 19.262 billion (including tax) to all ordinary shareholders for the year 2020, with a payout of RMB 2.085 per 10 shares[8]. - The company did not declare an interim dividend for 2021 and will not increase capital from reserves[8]. Risk Management - The company has not identified any significant risks that adversely affect its future development strategy and operational goals during the reporting period[9]. - The company actively manages various risks and has implemented measures to mitigate them[9]. - The company has not experienced any non-operational fund occupation by controlling shareholders or related parties during the reporting period[8]. - The bank emphasizes a comprehensive risk management system to maintain excellent asset quality[68]. - The bank's non-performing loan ratio remained stable, indicating effective risk management strategies in place[181]. Financial Performance - Operating income for the first half of 2021 was RMB 157,778 million, an increase of 7.71% compared to RMB 146,485 million in the same period of 2020[99]. - Net profit attributable to shareholders for the first half of 2021 reached RMB 41,010 million, up 21.84% from RMB 33,658 million in the first half of 2020[99]. - The total assets as of June 30, 2021, amounted to RMB 12,217,051 million, representing a growth from RMB 11,353,263 million at the end of 2020[101]. - The total customer loans reached RMB 6,192,400 million as of June 30, 2021, an increase from RMB 5,716,258 million at the end of 2020[101]. - The non-performing loan ratio was 0.86% as of June 30, 2021, a decrease of 0.05 percentage points from the end of 2020[98]. - The net interest income for the first half of 2021 was RMB 132,096 million, compared to RMB 124,392 million in the same period of 2020[99]. - The capital adequacy ratio as of June 30, 2021, was 12.22%, an increase of 1.55 percentage points from the end of 2020[98]. - Customer deposits totaled RMB 10,913,567 million as of June 30, 2021, compared to RMB 10,358,029 million at the end of 2020[101]. - Basic and diluted earnings per share for the first half of 2021 were RMB 0.40, compared to RMB 0.36 in the first half of 2020[99]. - The total assets of the company reached 12 trillion CNY, an increase of 7.61% compared to the end of the previous year[109]. - Customer loans exceeded 6 trillion CNY, growing by 8.33% from the end of last year[109]. - Net profit attributable to shareholders was 41.01 billion CNY, a year-on-year increase of 21.84%[109]. - Operating income was 157.78 billion CNY, up 7.71% year-on-year, with net interest income at 132.10 billion CNY, increasing by 6.19%[109]. - The average return on total assets was 0.71%, up 0.07 percentage points year-on-year, while the weighted average return on equity was 13.30%, an increase of 0.65 percentage points[108]. - The cost-to-income ratio improved to 51.53%, a decrease of 0.04 percentage points year-on-year[108]. Banking Operations and Services - The bank has nearly 40,000 business outlets and serves over 600 million personal customers[68]. - The bank's Tier 1 capital ranked 15th in the "Global 1000 Banks" list by The Banker magazine in 2021[69]. - The bank has received ratings of A+ from Fitch, A1 from Moody's, and A from S&P Global, all with a stable outlook[69]. - The bank aims to leverage financial technology to enhance high-quality development and transform its business model[73]. - The bank is committed to providing inclusive financial services and supporting rural revitalization and new urbanization[69]. - The bank's strategic goal is to build a leading digital ecological bank that supports the transformation and upgrading of the industrial structure[73]. - The bank focuses on creating value for customers and fostering a culture of innovation and resilience[74]. - The bank's mission is to ensure financial services are accessible to all, bridging urban and rural areas[72]. - The bank encourages a collaborative work environment to enhance efficiency and effectiveness in decision-making[77]. Employee Development and Corporate Culture - The company has established career development pathways for employees, allowing for vertical promotions and horizontal transitions based on individual strengths[94]. - The company aims to improve collaboration between departments to reduce redundant instructions and support frontline operations[93]. - The company recognizes the need for more professional talent in a competitive market[94]. - The company highlights the significance of immediate action following decision-making to achieve practical results[93]. - The company stresses the importance of efficiency and quality in executing tasks promptly[93]. - The company is focused on creating a harmonious work environment that fosters teamwork while adhering to principles and responsibilities[78]. Customer Engagement and Market Understanding - The company emphasizes the importance of understanding market demands by engaging directly with customers to make informed decisions[93]. - The company is committed to reducing ineffective directives to empower frontline employees and enhance operational efficiency[93]. Financial Investments and Asset Management - The bank's financial investments in debt instruments were RMB 4,074,596 million, representing 99.81% of total financial investments[163]. - The proportion of RMB-denominated bonds was 98.40%, with total RMB bonds amounting to RMB 3,175,860 million[169]. - The bank's bond investment increased by RMB 644.52 million, or 2.04%, reaching RMB 32,276.08 million as of June 30, 2021[166]. - The bank's total financial investments in debt instruments were RMB 4,074,596 million, representing 99.81% of total financial investments[163]. Wealth Management and Client Services - The bank's wealth management client base included 41.83 million VIP clients, a 14.87% increase from the previous year, and 3.46 million wealth clients, up 20.44%[191]. - The balance of personal wealth management products reached CNY 894.77 billion, reflecting a growth of 7.51% year-on-year[192]. - The bank has established 22 wealth centers to enhance service capabilities and provide a one-stop service for high-end clients[199]. - The bank's wealth management upgrade aims to meet comprehensive client needs, focusing on creating value and deepening customer relationships[195]. - The bank's digital transformation includes launching wealth management systems and features like investment planning reports for a broader customer base[194]. Agency and Insurance Services - The agency insurance new premium for the reporting period reached 51.635 billion yuan, with long-term premium (10 years and above) at 45.923 billion yuan, representing a growth of 17.92%[193]. - The management plan for private equity products (including trust plans) amounted to 23.266 billion yuan, a year-on-year increase of 215.56%[193]. - The sales of mutual fund products reached 80.424 billion yuan, with non-monetary funds accounting for 70.930 billion yuan[193].