2018-09-26 16:00Financial Reporting and Compliance - The company reported a half-year financial report for 2018, ensuring the accuracy and completeness of the information provided[3]. - The financial report was reviewed by PwC and Deloitte according to Chinese and Hong Kong review standards[3]. - The board meeting that approved the financial report had full attendance from the directors, ensuring a comprehensive review[3]. - The company is committed to maintaining transparency and accountability in its financial disclosures[3]. - The financial report is prepared in Renminbi, with all amounts stated in this currency unless otherwise specified[5]. Profit and Income - Operating income for the first half of 2018 was RMB 81,380 million, an increase of 6.09% compared to RMB 76,709 million in the same period of 2017[16]. - Total profit for the first half of 2018 reached RMB 32,442 million, up 4.26% from RMB 31,116 million in the first half of 2017[16]. - Net profit attributable to shareholders was RMB 25,721 million, reflecting a growth of 7.12% from RMB 24,011 million in the previous year[16]. - Total operating income reached 81.380 billion yuan, growing by 6.09% year-on-year, with non-interest income increasing by 16.01% to 31.572 billion yuan[66]. - The company reported a net profit of 26.18 billion RMB, reflecting an 8.32% increase from the previous year[70]. Assets and Liabilities - The total assets as of June 30, 2018, amounted to RMB 5,807,444 million, a 2.29% increase from RMB 5,677,691 million at the end of 2017[19]. - The total liabilities of the group reached RMB 5,383.683 billion, an increase of 2.25% compared to the end of the previous year, primarily due to increased deposits and issued debt securities[139]. - The total amount of loans and advances issued was RMB 3,379,294 million, a growth of 5.71% compared to the end of the previous year[119]. - The total amount of bonds held by the company was RMB 816.726 billion, an increase from RMB 730.982 billion as of December 31, 2017, representing an increase of approximately 11.7%[128]. Risk Management - The company did not identify any significant risks that could adversely affect its future development strategy and operational goals during the reporting period[4]. - The report includes a detailed description of the main risks faced in management and the measures taken to address them[4]. - The company is committed to risk management reforms, enhancing its risk management system and applying AI and big data technologies[61]. Customer and Market Development - Retail customer base reached nearly 80 million, with managed assets amounting to approximately 1.7 trillion yuan as of June 30, 2018[32]. - The bank signed over 5 million customers for its "Salary Pot" and overseas financial services products, indicating strong market response[46]. - The total number of personal customers reached 79.85 million, increasing by 10.89% year-on-year, with retail VIP customers managing assets over RMB 500,000 growing by 16.11%[189]. Technology and Innovation - The bank is focusing on technology and innovation as a key driver for development, increasing investment in mechanisms and resource allocation[49]. - The bank's new core banking management system and comprehensive risk management system have significantly improved management capabilities across all business lines and processes[50]. - The bank successfully launched a blockchain domestic letter of credit system, with on-chain business volume exceeding RMB 2 billion since its launch[181]. Investment and Financing - The investment banking business achieved revenue of RMB 4.579 billion, with debt financing underwriting scale of RMB 173.4 billion, ranking fifth in the market[180]. - The bank's international business saw a foreign exchange settlement volume of USD 74.58 billion, a year-on-year increase of 18%, surpassing the national average growth rate by 6 percentage points[181]. - The bank provided comprehensive financing of 271.2 billion yuan to enterprises through various means, leveraging the unique advantages of its controlling shareholder[33]. Employee and Operational Costs - Employee costs for the first half of 2018 were RMB 12,750 million, reflecting an increase of RMB 895 million or 7.55% year-on-year[112]. - Total operating expenses for the group amounted to RMB 22,563 million, reflecting an increase of RMB 1,395 million or 6.59% compared to the previous year[110]. Strategic Initiatives - The company is actively supporting national strategies such as the "Belt and Road Initiative" and "Beijing-Tianjin-Hebei Coordinated Development" to enhance its market competitiveness[168]. - The company plans to continue its strategic development from 2018 to 2020, focusing on returning to core values and promoting transformation[68].