2025-08-29 09:18Financial Performance - The unaudited interim results for China Merchants Bank for the six months ended June 30, 2025, have been announced[3]. - For the first half of 2025, the company's operating income was RMB 169,923 million, a decrease of 1.73% compared to RMB 172,922 million in the same period of 2024[19]. - The pre-tax profit for the first half of 2025 was RMB 88,906 million, down 0.82% from RMB 89,641 million in the previous year[19]. - The net profit attributable to shareholders was RMB 74,930 million, reflecting a slight increase of 0.25% from RMB 74,743 million in the same period last year[19]. - Total assets as of June 30, 2025, reached RMB 12,657,151 million, representing a growth of 4.16% from RMB 12,152,036 million at the end of 2024[19]. - The total amount of loans and advances increased by 3.31% to RMB 7,116,616 million compared to RMB 6,888,315 million at the end of 2024[19]. - The average return on total assets decreased to 1.21%, down 0.11 percentage points from 1.32% in the same period last year[21]. - The company achieved a net operating income of RMB 169.923 billion, a year-on-year decrease of 1.73%[28]. - Net profit attributable to shareholders was RMB 74.930 billion, an increase of 0.25% year-on-year[24]. - Total assets reached RMB 12,657.151 billion, growing by 4.16% compared to the end of the previous year[24]. Risk Management - The report includes a detailed description of major risks and the measures taken to address them, as outlined in the risk management section[9]. - The company maintained a provision coverage ratio of 410.93%, despite a decrease of 1.05 percentage points from the previous year[25]. - The company implemented strict asset risk classification to accurately reflect asset quality, ensuring robust risk management practices[79]. - The company will continue to monitor macroeconomic changes and enhance risk management strategies to maintain overall asset quality stability in the second half of the year[156]. Loan Quality and Non-Performing Loans - The non-performing loan ratio improved to 0.93%, down from 0.95% in the previous year[21]. - The non-performing loan balance was RMB 66.370 billion, with a non-performing loan ratio of 0.93%, a decrease of 0.02 percentage points year-on-year[25]. - The company maintained a stable loan quality with a total of RMB 66.37 billion in non-performing loans, representing 0.93% of total loans[80]. - The company reported a total of RMB 348,737 million in discounted bills, with a negligible NPL ratio of 0.00%[91]. - The total amount of non-performing loans was RMB 66,370 million, representing an increase from RMB 65,610 million at the end of 2024[88]. - The retail loan non-performing loan generation amount was RMB 10.730 billion, an increase of RMB 4.301 billion year-on-year, while credit card new non-performing loans decreased by RMB 0.260 billion year-on-year[155]. Capital Adequacy and Regulatory Compliance - The core tier 1 capital adequacy ratio, tier 1 capital adequacy ratio, and total capital adequacy ratio were 14.00%, 17.07%, and 18.56%, respectively, all showing a decline compared to the end of the previous year[103]. - The company maintained compliance with capital and leverage regulatory requirements throughout the reporting period[99]. - The company's net core Tier 1 capital was RMB 921,977 million, an increase of 0.84% from RMB 914,275 million at the end of the previous year[109]. - The risk-weighted assets (RWA) increased by 8.25% to RMB 6,669,094 million from RMB 6,160,977 million at the end of the previous year[106]. Customer Deposits and Loans - As of June 30, 2025, the total amount of customer deposits reached RMB 9,422.38 billion, an increase of 3.58% compared to the end of the previous year, accounting for 82.94% of total liabilities[74]. - The total amount of corporate loans reached CNY 2,798.72 billion, an increase of 8.04% compared to the end of the previous year, accounting for 41.41% of total loans and advances[183]. - The average balance of customer deposits increased to RMB 9.040248 trillion, with interest expenses of RMB 56.519 billion, resulting in a cost rate of 1.26%[41]. - The company aims to strengthen customer acquisition and optimize deposit structure to maintain stable and high-quality deposit growth[151]. Wealth Management and Investment - The company has a strong commitment to environmental, social, and governance (ESG) practices, as detailed in the report[4]. - The total assets of the group's wealth management products reached CNY 2.46 trillion, maintaining a leading position in the banking wealth management industry[124]. - Wealth management commission and fee income increased by 11.89% to RMB 12,797 million from RMB 11,437 million year-on-year[47]. - The number of wealth management clients reached 61.07 million, an increase of 4.90% compared to the end of the previous year[166]. Digital Transformation and Innovation - The company launched 386 new financial technology innovation projects during the reporting period, with a total of 4,796 projects initiated to date[129]. - The company processed 548,600 paperless reimbursement requests, improving efficiency by 54.05% compared to traditional paper reimbursement methods[134]. - The overall availability of the cloud platform exceeded 99.999% during the reporting period, enhancing resource efficiency[136]. - The company is actively participating in the construction of the data factor market and public data development, enhancing data asset management capabilities[136]. Corporate Social Responsibility - The company is committed to social responsibility by integrating resources to meet comprehensive needs of entrepreneur clients, including wealth management and charitable services[168]. - The company aims to strengthen support for key areas such as technology finance, green finance, and inclusive finance to promote high-quality financial development[154].