2024-08-29 12:22Dividend and Shareholder Information - The board of directors approved a cash dividend of RMB 1.30 per 10 shares (including tax) for all shareholders, subject to shareholder meeting approval [2]. - As of June 30, 2024, the total number of ordinary shares is 43,782,418,502, with no changes in share structure during the reporting period [172]. - The total number of ordinary shareholders is 341,030, with 323,419 holding A-shares and 17,611 holding H-shares [174]. - Major shareholders include Dajia Life Insurance Co., Ltd. with a 20.73% stake in A shares and 5.50% in H shares [177]. - The top ten shareholders hold a total of 313,808,367 shares, representing 0.72% of the total share capital [176]. - The total number of shares held by Hong Kong Central Clearing Limited is 8,285,912,862, accounting for 18.93% of the total shares [175]. - The largest shareholder, Dajia Life Insurance Co., Ltd., holds 10.30% of the total shares, which amounts to 7,352,284,689 A-shares and 457,930,200 H-shares [180]. - The top ten single shareholders collectively own 44.41% of the total shares, indicating a diversified ownership structure [180]. - The company has not sold or repurchased any of its own securities during the reporting period, reflecting a conservative capital management approach [181]. Financial Performance - Operating revenue for the first half of 2024 was RMB 67,127 million, a decrease of 6.17% compared to RMB 71,539 million in the same period of 2023 [8]. - Net profit attributable to shareholders for the first half of 2024 was RMB 22,474 million, down 5.48% from RMB 23,777 million in the first half of 2023 [8]. - The total profit for the first half of 2024 reached RMB 23,476 million, compared to RMB 24,747 million in the first half of 2023, indicating a decline of approximately 5.15% [90]. - The bank's net interest income for the reporting period was CNY 485.82 billion, a decrease of 5.36% year-on-year, with a net interest margin of 1.38%, down 10 basis points [17]. - The bank's operating income was CNY 671.27 billion, a decrease of CNY 44.12 billion or 6.17% year-on-year [17]. - The basic earnings per share for the first half of 2024 was RMB 0.43, a decline of 6.52% from RMB 0.46 in the first half of 2023 [8]. - The total profit amounted to RMB 23.476 billion, reflecting a decline of 5.14% from RMB 24.747 billion in the first half of 2023 [21]. Asset and Liability Management - Total assets as of June 30, 2024, were RMB 7,551,013 million, a decrease of 1.62% from RMB 7,674,965 million at the end of 2023 [9]. - The total liabilities decreased by 1.36% to RMB 6,941,371 million as of June 30, 2024, compared to RMB 7,037,164 million at the end of 2023 [9]. - The liquidity coverage ratio stood at 140.61%, while the net stable funding ratio was 104.78%, both above regulatory requirements [12]. - The total amount of deposits absorbed by the group was RMB 4,064.73 billion, a decrease of RMB 218.27 billion or 5.10% compared to the end of the previous year [54]. - The total liabilities of the group as of June 30, 2024, were RMB 69,413.71 billion, a decrease of RMB 957.93 billion or 1.36% from the end of the previous year [52]. Risk Management - The bank has not identified any significant risks that adversely affect its future development strategy and operational goals [2]. - The bank's management has implemented proactive measures to effectively manage various risks [2]. - The bank's non-performing loan ratio improved slightly to 1.47% as of June 30, 2024, down from 1.48% at the end of 2023 [9]. - The bank's non-performing loan generation rate was 1.27%, a year-on-year decrease of 0.20 percentage points, indicating improved asset quality management [100]. - The bank is committed to optimizing its interbank customer credit management model to strengthen risk prevention measures [132]. - The bank's risk management strategy emphasizes a dynamic balance between development and risk, with a focus on compliance as a core competitive advantage [152]. Strategic Initiatives and Growth - The bank has focused on enhancing the quality of liabilities, with a cost rate of interest-bearing liabilities at 2.38% during the reporting period [58]. - The bank has increased its support for key sectors such as manufacturing, inclusive finance, and green low-carbon initiatives, aligning with national financial strategies [66]. - The bank is actively promoting green low-carbon branch construction, integrating environmental design concepts into its operations [7]. - The bank aims to optimize financial supply by directing resources to key areas of economic development and enhancing regional strategies [170]. - The bank plans to drive innovation through digital transformation, improving customer experience and operational efficiency [170]. Corporate Governance - The company maintained compliance with legal and regulatory requirements regarding corporate governance throughout the reporting period [195]. - The company has a diverse board composition with a mix of executive and independent directors, promoting balanced decision-making [199]. - The company is preparing for a governance transition with several board members' terms expiring in 2024, which may lead to new strategic initiatives [200]. - The company has appointed several independent directors with terms extending to 2027, enhancing governance and oversight [199]. Customer Engagement and Digital Transformation - The bank's digital financial services are continuously upgraded, focusing on efficiency and security improvements, with ongoing iterations of digital products [134]. - The number of online financing customers increased to 83,700, up by 27,500 from the end of the previous year, while the number of core enterprise customers rose to 2,634, an increase of 607 [135]. - The number of retail customers increased to 132.03 million, a growth of 2.57% compared to the end of the previous year [117]. - The bank is enhancing post-loan management capabilities to identify and mitigate potential risks early [156].