2021-03-19 16:00Financial Performance - The net profit attributable to shareholders for the year reached RMB 97.34 billion, an increase of 4.82% year-on-year[9]. - Operating revenue for the year was RMB 290.48 billion, reflecting a year-on-year growth of 7.70%[9]. - The weighted average return on equity (ROAE) stood at 15.73%[9]. - The company's basic earnings per share for 2020 was RMB 3.79, up 4.70% from RMB 3.62 in 2019[34]. - The net profit for 2020 was RMB 97,959 million, reflecting a growth of 4.86% compared to RMB 93,423 million in 2019[34]. - The total assets of the company amounted to CNY 8,361.45 billion, representing a growth of 12.73% from the previous year[46]. - The total loans and advances reached RMB 5,029,128 million, an increase of 11.99% from RMB 4,490,650 million in 2019[35]. - The total liabilities amounted to RMB 7,631.094 billion, reflecting a growth of 12.23% year-on-year, mainly driven by rapid growth in customer deposits[87]. Asset Quality and Risk Management - The non-performing loan (NPL) ratio decreased to 1.07%, marking a continuous decline for four consecutive years[9]. - The provision coverage ratio reached 437.68%, indicating strengthened risk compensation capacity[9]. - The company's loan loss provision balance reached RMB 234.664 billion, an increase of RMB 11.567 billion compared to the end of the previous year, with a provision coverage ratio of 437.68%, up by 10.90 percentage points[108]. - The company reported an increase in NPL rates in sectors such as leasing and business services, wholesale and retail, and transportation due to economic pressures and the pandemic[97]. - The company maintained a stable asset quality in corporate loans through long-term client structure adjustments[95]. Customer Deposits and Loans - Customer deposits totaled RMB 5.63 trillion, with the average daily balance of demand deposits accounting for 60.00%, up by 2.01 percentage points year-on-year[9]. - The average daily balance of customer deposits was RMB 5,577.77 billion, with interest expenses of RMB 20.94 billion, resulting in an annualized average cost rate of 1.49%[65]. - The balance of inclusive small and micro enterprise loans exceeded CNY 500 billion, ranking among the top in national small and medium-sized banks for inclusive finance loan scale[10]. - The balance of small enterprise loans increased by 71.03% year-on-year to CNY 113.412 billion, with a non-performing loan ratio of 1.33%, down 2.30 percentage points[168]. Digital Transformation and Technology Investment - The bank's investment in information technology approached RMB 12 billion, representing a year-on-year increase of over 20%[9]. - The company achieved a record high in asset under management (AUM), with an increase of 2.82 trillion RMB, reaching a total of over 16 trillion RMB[132]. - The company launched the招商银行App version 9.0, introducing new features and enhancing digital capabilities to support customer needs during the pandemic[184]. - The company is advancing its financial technology infrastructure, focusing on a "cloud + middle platform" architecture, and has established an AI joint laboratory with leading universities[191]. Wealth Management and Customer Engagement - Monthly active users (MAU) for the two major apps reached 107 million[9]. - The company aims to make wealth management accessible to a broader audience, emphasizing the importance of professional services in uncertain market conditions[18]. - The retail financial business's cost-to-income ratio was 34.65%, an increase of 0.91 percentage points year-on-year[120]. - The number of private banking clients increased by 22.41% to 99,977, with total assets under management rising by 24.36% to CNY 27,746.29 billion[161]. Strategic Vision and Future Plans - The bank's strategic vision is to become "the best commercial bank in China driven by innovation, leading in retail, and characterized by distinct features" with a focus on building a "light bank" model[10]. - The company plans to build a comprehensive wealth management system during the "14th Five-Year Plan" period, responding to internal and external changes[25]. - The company aims to enhance its wealth management capabilities, emphasizing low-risk and low-capital consumption business models[13]. - The company plans to maintain steady growth in non-interest net income in 2021, focusing on digital transformation and a customer value-oriented approach[135].