招商银行(03968) - 2018 - 年度财报

Customer Base and User Engagement - As of the end of 2018, the number of retail customers reached 125 million, with a combined monthly active user count of over 81 million for the "China Merchants Bank" and "Zhangshang Life" apps[9]. - The cumulative user count for the company's apps reached 148 million, a growth of 43%, with monthly active users surpassing 81 million, up 47%[15]. - The total number of retail customers reached 125 million, with the cumulative user base of the "招商银行" and "掌上生活" apps reaching 148 million[122]. - Monthly active users (MAU) for the company's apps reached 81.0467 million, a growth of 47.24% year-on-year, with 27.11% and 44.21% of traffic from non-financial services respectively[123]. - The total number of users for the "掌上生活App" reached 70.03 million, with non-credit card users accounting for 24.38%[167]. Financial Performance - The net profit for 2018 was 75.232 billion RMB, with a proposed cash dividend of 0.94 RMB per share[5]. - The bank's operating income and net profit achieved double-digit growth, showcasing strong financial performance[9]. - In 2018, the company achieved a net operating income of CNY 248.44 billion, representing a year-on-year growth of 12.40%[15]. - The net profit attributable to shareholders reached CNY 80.56 billion, with a year-on-year increase of 14.84%[15]. - The pre-tax profit for 2018 was RMB 106,497 million, reflecting a growth of 17.44% from RMB 90,680 million in 2017[34]. Risk Management and Asset Quality - The bank's non-performing loan ratio and non-performing loan balance both decreased, reflecting enhanced risk management[9]. - The company maintained a decline in non-performing loan balance and ratio, indicating improved asset quality[15]. - The non-performing loan (NPL) balance decreased to RMB 53.61 billion, down RMB 3.73 billion from the previous year, with an NPL ratio of 1.36%, a decrease of 0.25 percentage points[87]. - The provision coverage ratio for non-performing loans improved to 358.18%, an increase of 96.07 percentage points year-over-year[87]. - The company has implemented a credit risk management policy based on IFRS 9, focusing on risk cost management and customer-centered risk management perspectives[184]. Technological Innovation and Digital Transformation - The bank is focusing on technology-driven development, with significant investments in artificial intelligence, big data, blockchain, and cloud computing[9]. - The company is committed to increasing investment in financial technology to enhance service levels and customer experience[13]. - The company has initiated a digital transformation strategy that aims to redefine its service targets and operational thinking[19]. - The company aims to enhance its digital transformation in retail banking, focusing on improving customer experience and operational capabilities[141]. - The company has established a financial technology academy to enhance talent cultivation and support business development through advanced technologies like AI and big data[172]. Corporate Strategy and Business Model - The company has transitioned from a scale-driven model (1.0 phase) to a quality and structure-driven model (2.0 phase), focusing on asset quality and income structure rather than just asset size[16]. - The company aims to enter a new business model (3.0 phase) driven by technological innovation, fundamentally changing service, marketing, risk control, and operational models[19]. - The strategic focus for 2019 includes leveraging technology to transform the business model and improve customer experience[11]. - The company emphasizes a market-oriented incentive mechanism to attract and retain top talent in financial technology[13]. - The company plans to strengthen its digital infrastructure by leveraging financial technology to improve marketing, risk management, customer service, and operations[137]. Dividend and Shareholder Returns - The company plans to distribute a cash dividend of RMB 0.94 per share (including tax) based on the total share capital of A-shares and H-shares as of the dividend record date[198]. - The cash dividend per share has increased from RMB 0.84 in 2017 to RMB 0.94 in 2018, reflecting a growth in shareholder returns[199]. - For the fiscal year 2018, the company's net profit attributable to ordinary shareholders was RMB 78.901 billion, with a dividend payout ratio of 30.05%[199]. - The total cash dividend amount for 2018 is projected to be RMB 237.07 million (including tax)[199]. - General reserves will be set aside at 1.5% of risk assets, totaling RMB 6.028 billion[198]. Customer Service and Experience - The bank aims to enhance customer experience by implementing a user experience monitoring system across both retail and corporate finance sectors[20]. - The focus on user experience will drive the company's comprehensive digital transformation across all aspects of business development, organizational structure, and management[19]. - The company aims to enhance retail business advantages and improve customer service systems to drive non-interest income growth[126]. - The company launched the "Golden Sunflower Financial Planning Service System" to provide comprehensive wealth management solutions[143]. - The company has established a high-end customer service network with 68 private banking centers and 64 wealth management centers across 63 domestic cities and 7 overseas cities[144].