ZJB(SH:601860)2025-04-24 12:45Financial Performance - As of the end of 2024, the total assets of the company reached CNY 269.944 billion, an increase of 9.00% compared to the beginning of the year[10]. - The total deposits amounted to CNY 209.965 billion, with a growth rate of 6.70%, while the total loans reached CNY 188.852 billion, increasing by 6.56%[14]. - The net profit for the year was CNY 1.624 billion, reflecting a growth of 0.30%[10]. - Operating revenue for 2024 reached 4,462,943 thousand RMB, a slight increase of 0.98% compared to 2023[36]. - Net profit for 2024 was 1,623,524 thousand RMB, reflecting a growth of 0.30% year-over-year[36]. - Cash flow from operating activities decreased significantly by 44.36% to 3,250,612 thousand RMB compared to the previous year[36]. - The company reported a decrease in the cost-to-income ratio to 35.97%, down by 2.34 percentage points from the previous year[42]. - The company’s basic earnings per share remained stable at 0.44 RMB, unchanged from the previous year[36]. - The liquidity ratio stood at 94.00%, significantly above the standard value of ≥25%[47]. - The net interest margin decreased to 1.42%, down by 0.17 percentage points compared to 2023[42]. - The company’s total equity increased to CNY 19.94 billion, up from CNY 18.47 billion year-on-year[107]. Loan and Deposit Activities - The balance of agricultural and small micro loans reached CNY 122.1 billion, accounting for 64.6% of the total loan portfolio, an increase of 3 percentage points from the beginning of the year[11]. - The balance of inclusive small micro-enterprise loans was CNY 34.85 billion, up CNY 2.27 billion, with a growth rate of 6.96%[58]. - The company provided loans totaling CNY 38.1 billion to 377,000 rural households through its "Jinling Huinong Small Loan" product, covering 463 villages[71]. - The company launched a series of micro-loan products, including "Tongshang e-loan" and "Huinong Quick Loan," specifically designed for small and micro enterprises and agricultural entities[69]. - The total amount of loans issued under the "Ningchuang Loan" product reached CNY 410 million, while the "Settlement Easy Loan" achieved a credit amount of CNY 142 million[70]. - The company conducted visits to 520,000 individual businesses, granting credit of CNY 30.738 billion, and visited 48,000 technology-based enterprises, granting credit of CNY 49.356 billion[70]. - The balance of green loans exceeded CNY 14 billion, with an increase of CNY 2.06 billion, representing a growth rate of 16.81%[16]. - The company issued CNY 1.16 billion in digital RMB loans, promoting its application in inclusive finance and green finance[62]. - The total deposits reached CNY 209.97 billion, an increase of CNY 13.19 billion, accounting for 83.98% of total liabilities[67]. Risk Management and Compliance - The non-performing loan ratio stood at 1.24%, with a provision coverage ratio of 201.44%[10]. - The company has identified credit risk, liquidity risk, market risk, operational risk, information technology risk, and reputation risk as potential challenges[138]. - The company’s provisions for credit impairment totaled 815,572 thousand RMB in 2024, compared to 667,340 thousand RMB in 2023, reflecting increased caution in credit risk management[97]. - The migration rate for normal loans was 2.91%, while the migration rate for attention loans was 25.33%, indicating a rise in the risk profile of the loan portfolio[116]. - The overdue loans exceeding 90 days amounted to 2,680,474 thousand RMB, representing an increase from 2,293,629 thousand RMB as of December 31, 2023, with a ratio of 1.42%[119]. Strategic Initiatives and Community Engagement - The company aims to enhance its digital transformation and improve user experience through the upgrade of various financial platforms[17]. - The company conducted over 2,200 community service activities, benefiting 76,000 residents throughout the year[16]. - The company has established a "green branch" in Jiangbei New District, furthering its commitment to environmental sustainability[31]. - The company has implemented a "green finance" initiative, becoming the first rural commercial bank in the country to publish an ESG report[31]. - The company plans to donate 1.5 million yuan for poverty alleviation and charity projects in 2024, including 300,000 yuan for logistics project construction in Lishui District[146]. - The company has actively participated in community service initiatives, including providing free services to elderly residents in local neighborhoods[147]. Governance and Shareholder Relations - The governance structure has been strengthened with 2 shareholder meetings, 11 board meetings, and 26 committee meetings held during the reporting period, reviewing a total of 338 proposals[152]. - The company has revised several governance documents to improve decision-making processes and clarify responsibilities among governance bodies[153]. - The board will evaluate the implementation of the shareholder dividend return plan at least once every three years, considering the opinions of independent directors and public investors[159]. - The company has committed to maintaining a stable profit distribution policy, ensuring that cash dividends in the first three years post-IPO are no less than 30% of the average distributable profit[159]. - The company has a commitment from major shareholders to not reduce their holdings significantly within the specified lock-up periods[165]. Environmental and Social Responsibility - The company has been awarded the "2024 ESG Excellent Bank" by Huaxia Times, reflecting its commitment to sustainable development and responsible banking practices[34]. - The company has established a green finance center to enhance the management and development of green finance business[61]. - The company emphasizes a strategic focus on low-carbon, environmentally friendly, and energy-saving projects to align with national carbon neutrality goals[142]. - The company has launched the "Zijin·Su Carbon Financing" green financial product to support green enterprises with low-interest, medium to long-term loans[143]. - The company has implemented differentiated post-loan management for green finance, focusing on environmental and social risk classifications for clients[144].