Changshu Bank(SH:601128)2017-04-27 16:00Financial Performance - Operating income for the period reached CNY 1,145,941 thousand, representing a year-on-year increase of 15.37%[6] - Net profit attributable to shareholders was CNY 316,320 thousand, up by 11.51% from the same period last year[6] - Net profit for the first quarter reached CNY 335,435 thousand, an increase of 11.5% compared to CNY 300,666 thousand in the same period last year[30] - The total profit for the period was CNY 383,117,000, compared to CNY 348,871,000 in the previous year, marking an increase of 9.8%[31] - The net profit for Q1 2017 was CNY 296,137,000, up from CNY 269,344,000, representing a growth of 9.9%[31] Asset and Liability Management - Total assets increased to CNY 137,785,842 thousand, a growth of 6.00% compared to the end of the previous year[6] - Total liabilities increased to CNY 127,085,408 thousand, compared to CNY 119,550,771 thousand at the start of the year, reflecting a growth of about 6.3%[28] - Customer deposits grew to CNY 94,095,766 thousand, an increase of 5.0% from CNY 88,810,115 thousand at the beginning of the year[28] - Total deposits increased to RMB 94,095,766 thousand, up from RMB 88,810,115 thousand year-on-year, representing a growth of 2.88%[21] - Total loans reached RMB 68,476,195 thousand, an increase from RMB 66,419,172 thousand, reflecting a growth of 3.09%[21] Income Sources - Fee and commission income surged by 190.61% to RMB 101,709 thousand, driven by increased income from investment banking and asset management services[16] - The bank reported a significant increase in fee and commission income, reaching CNY 90,651 thousand, up from CNY 20,812 thousand, marking a growth of over 335%[30] - Net interest income rose to CNY 1,040,280 thousand, up 15.0% from CNY 904,845 thousand year-over-year[30] - Net interest income rose to CNY 893,089,000, up from CNY 809,807,000, reflecting a growth of 10.3% year-over-year[31] Investment and Capital Management - Investment income decreased significantly by 85.96% to RMB 8,881 thousand due to reduced bond price differences[16] - The bank's investment income decreased to CNY 8,881 thousand from CNY 63,263 thousand, indicating a need for strategic adjustments in investment activities[30] - The bank's core tier 1 capital adequacy ratio improved to 10.32% from 9.87%[23] - The bank plans to issue convertible bonds up to RMB 3 billion to support future business development and enhance core tier 1 capital[17][18] - The bank's total capital adequacy ratio decreased to 12.56% from 13.22%[24] Operational Efficiency - The weighted average return on equity decreased to 3.17%, down by 0.28 percentage points from the previous year[6] - The bank's cost-to-income ratio was reported at 38.60%, up from 37.40%[24] - The bank's asset impairment losses increased by 58.99% to RMB 281,721 thousand, attributed to higher loan provisions[16] - The bank's non-performing loan ratio slightly improved to 1.36% from 1.40%[24] - The bank's non-performing loan ratio remained stable, with a focus on maintaining asset quality amid growth[30] Cash Flow and Liquidity - The net cash flow from operating activities was negative at CNY -1,224,896 thousand, a decrease of 120.77% compared to the previous year[6] - Cash and cash equivalents at the end of the period totaled CNY 6,830,806,000, down from CNY 9,103,722,000[34] - The company recorded a net increase in customer deposits and interbank placements of CNY 5,346,839,000, compared to CNY 4,582,041,000 last year[33] - The company issued bonds that generated cash inflow of CNY 23,412,476,000, compared to CNY 7,409,439,000 in the previous year[34] Shareholder Information - The number of shareholders at the end of the reporting period was 53,722[10] - The top shareholder, Bank of Communications Co., Ltd., held 200,045,824 shares, accounting for 9.00% of total shares[11] Government Support - The company received government subsidies amounting to CNY 13,420 thousand, which were included in other income[9] Comprehensive Income - The total comprehensive income for the period was CNY 228,987,000, down from CNY 280,187,000 in the same period last year[32] - The company reported a decrease in other comprehensive income after tax, amounting to CNY -67,150,000 compared to CNY 10,843,000 in the previous year[31]