ZJB(SH:601860)2024-08-28 10:59Financial Performance - Operating income for the first half of 2024 reached CNY 2,381,006 thousand, an increase of 8.08% compared to CNY 2,202,934 thousand in the same period of 2023[14]. - Net profit attributable to shareholders was CNY 911,411 thousand, reflecting a growth of 4.62% from CNY 871,189 thousand year-on-year[14]. - Net profit after deducting non-recurring gains and losses was CNY 903,322 thousand, up 5.86% from CNY 853,348 thousand in the previous year[14]. - The net cash flow from operating activities increased by 24.08% to CNY 13,677,388 thousand, compared to CNY 11,023,144 thousand in the first half of 2023[14]. - Basic earnings per share for the first half of 2024 were CNY 0.24, up 4.17% from CNY 0.23 in the same period of 2023[15]. - Operating expenses increased to CNY 1,332 million, reflecting a rise of 10.59% compared to CNY 1,204 million last year[32]. - Net profit for the first half of 2024 was RMB 911,411 thousand, representing a growth of 4.6% compared to RMB 871,189 thousand in the same period last year[125]. Asset and Liability Management - Total assets at the end of the reporting period were CNY 269,304,373 thousand, an increase of 8.74% from CNY 247,664,435 thousand at the end of the previous year[14]. - Total liabilities amounted to CNY 250.14 billion, reflecting a growth of 9.14% from CNY 229.19 billion last year[34]. - The loan balance reached CNY 185.705 billion, an increase of CNY 8.483 billion, representing a growth rate of 4.79% compared to the beginning of the year[24]. - Total deposits reached CNY 215,168,251 thousand as of June 30, 2024, compared to CNY 196,773,962 thousand at the end of 2023, marking an increase of about 9.3%[91]. - The total balance of debt investments decreased from CNY 12,939,262 thousand at the end of the previous year to CNY 12,061,487 thousand, a decline of approximately 6.77%[38]. Risk Management - The company reported no foreseeable major risks, effectively managing credit, market, liquidity, and operational risks[4]. - The company emphasizes a risk management framework, integrating compliance culture and leveraging financial technology for effective risk control[20]. - The company faces various risks including credit risk, liquidity risk, market risk, operational risk, information technology risk, and reputation risk[45][46]. - The company has established a comprehensive market risk management framework, with clear responsibilities and effective strategies[116]. - The management of operational risk follows a principle of internal control priority, with a structured management system in place[117]. Digital Transformation and Innovation - The company is committed to digital transformation, enhancing data governance and application capabilities to support its strategic goals[20]. - The company has launched several innovative financial products for small and micro enterprises, including "Xiao Wei Loan," "Su Nong Loan," and "Micro Enterprise E Loan," aimed at expanding the coverage of inclusive finance[57]. - The bank has implemented a digital RMB strategy, focusing on increasing the coverage of digital RMB accounts and promoting its use in credit lending[122]. - The company is enhancing its digital financial services, including the launch of features for batch transfers and digital RMB payment scenarios[28]. Community Engagement and Social Responsibility - The company has actively engaged in poverty alleviation efforts, donating 1.5 million yuan to the Nanjing Charity Federation to support rural revitalization[54]. - The company completed a total of 911 community service activities, serving 31,600 people in the first half of the year[26]. - The company has visited 11,000 technology-based enterprises and 63,000 individual businesses to enhance customer engagement[28]. - The company is committed to integrating ESG principles into its operations, focusing on environmental protection and social responsibility[55]. Shareholder Information - The total number of common stock shareholders as of the end of the reporting period is 67,461[70]. - The largest shareholder, Nanjing Zijin Investment Group, holds 328,129,524 shares, representing 8.96% of the total shares[70]. - The company has no significant litigation or arbitration matters during the reporting period, with 112 pending credit-related lawsuits involving an amount of CNY 128 million, which is not expected to have a significant impact on the financial status or operating results[62]. - The company has no plans for profit distribution or capital reserve transfer for the current period[52]. Financial Products and Services - The company aims to establish a comprehensive financial service ecosystem, focusing on community banking, wealth management, and transaction banking[23]. - The company launched a series of marketing activities, including the "Purple Gold Privilege" series, to enhance customer engagement and service offerings[29]. - The bank's wealth management business has a balance of 5.328 billion, an increase of 730 million from the beginning of the year[109]. - The bank's average interest rate for corporate loans is 4.02%, while retail loans have an average interest rate of 4.94%[107]. Financial Reporting and Compliance - The bank's financial statements comply with the accounting standards set by the Ministry of Finance and reflect its financial position as of June 30, 2024[133]. - The company uses a three-stage impairment model to estimate expected credit losses for financial assets measured at amortized cost and those measured at fair value with changes recognized in other comprehensive income[153]. - The company recognizes impairment losses or gains in profit or loss for financial assets measured at fair value with changes recognized in other comprehensive income, without reducing the carrying amount on the balance sheet[153]. - The company evaluates contracts to determine if they contain leases, separating lease and non-lease components for accounting purposes[196].