Financial Performance - Bank of Zhengzhou Co., Ltd. reported its unaudited consolidated interim results for the six months ended June 30, 2024[1]. - Operating income for the first half of 2024 was RMB 6,405,142 thousand, a decrease of 7.22% compared to RMB 6,903,597 thousand in the same period of 2023[11]. - Total profit for the first half of 2024 was RMB 1,869,575 thousand, down 26.02% from RMB 2,526,990 thousand in the first half of 2023[11]. - Net profit attributable to shareholders for the first half of 2024 was RMB 1,593,861 thousand, a decline of 22.12% compared to RMB 2,046,633 thousand in the same period of 2023[11]. - Basic earnings per share for the first half of 2024 were RMB 0.18, down 21.74% from RMB 0.23 in the same period of 2023[11]. - The company will not distribute cash dividends or bonus shares for the first half of 2024[4]. Assets and Liabilities - The total assets as of June 30, 2024, reached RMB 645,680,374 thousand, reflecting a growth of 2.37% from RMB 630,709,429 thousand at the end of 2023[12]. - Total liabilities as of June 30, 2024, were RMB 589,356,033 thousand, up 2.25% from RMB 576,394,573 thousand at the end of 2023[12]. - Total deposits (excluding accrued interest) reached RMB 386,360,381 thousand, a rise of 7.04% from RMB 360,961,439 thousand at the end of 2023[12]. - Total loans and advances (excluding accrued interest) amounted to RMB 372,827,943 thousand, an increase of 3.39% from RMB 360,608,206 thousand at the end of 2023[12]. Capital and Ratios - As of June 30, 2024, the Core Tier 1 Capital Ratio increased to 9.26%, up from 8.90% at the end of 2023, reflecting a change of 0.36%[13]. - The total capital net amount as of June 30, 2024, was RMB 60,260,538 thousand, reflecting a growth of 6.90% from RMB 56,372,605 thousand at the end of 2023[12]. - The total capital adequacy ratio improved to 12.68% as of June 30, 2024, up from 12.38% at the end of 2023[112]. - The bank's leverage ratio stood at 7.50% as of June 30, 2024, slightly down from 7.60% at the end of 2023[113]. Risk Management - The board confirmed that there are no significant risks affecting the company's future development strategy and operational goals[4]. - The Non-Performing Loan Ratio remained stable at 1.87% as of June 30, 2024, compared to 1.88% at the end of 2022[13]. - The Provision Coverage Ratio improved to 191.47% as of June 30, 2024, an increase of 16.60% from 174.87% at the end of 2023[13]. - The bank continues to enhance credit risk management and accelerate the disposal of non-performing assets[76]. Economic Context - The total asset growth rate for the first half of 2024 was supported by a GDP growth of 5.0% in China, with industrial production increasing by 6.0%[18]. - In the first half of 2024, the GDP of Henan Province grew by 4.9% year-on-year, with the primary, secondary, and tertiary industries growing by 3.7%, 7.5%, and 3.2% respectively[19]. Employee and Governance - The company has a total of 52,470 shares held by the deputy president, with no changes during the reporting period[171]. - The company has established a comprehensive training system to enhance the overall capabilities and innovation skills of its employees, aligning with the provincial government's goal of building a first-class urban commercial bank[184]. - The company confirmed that all directors and supervisors complied with the securities trading code during the reporting period[176]. - The current board and supervisory committee's term has been extended to ensure continuity during the upcoming election process[168]. Shareholder Information - The total number of shareholders for ordinary shares at the end of the reporting period is 99,412, with 99,361 A-share shareholders and 51 H-share shareholders[148]. - The largest shareholder, Hong Kong Central Clearing (Agent), holds 2,020,252,753 H-shares, representing 22.22% of the total shares[149]. - The report confirms that there were no changes in the shareholding structure of the top 10 shareholders compared to the previous period[155]. Financial Products and Services - The bank's wealth management products ecosystem has been diversified, with the "Zhenghao Wealth" series continuously improving and expanding categories such as cash management and stable investment, achieving a comprehensive product matrix[123]. - The bank has launched customized financial products for elderly clients, addressing their retirement planning needs[123]. - The bank aims to enhance financial services for rural residents by increasing the number of rural financial service points to 4,947[141].
郑州银行(06196) - 2024 - 中期业绩