Bank Of Jiangsu(SH:600919)2021-08-24 16:00Financial Performance - The company's operating income for the first half of 2021 reached CNY 30,736,822, representing a 22.67% increase compared to the same period last year[13]. - Net profit attributable to shareholders of the parent company was CNY 10,198,572, reflecting a 25.20% year-on-year growth[13]. - The net cash flow generated from operating activities was CNY 53,656,661, an increase of 50.87% compared to the previous year[13]. - Total operating income for Q1 was CNY 15,338,919 thousand, and for Q2 it was CNY 15,397,903 thousand, showing a slight increase[19]. - Net profit attributable to shareholders of the parent company for Q1 was CNY 5,225,412 thousand, while for Q2 it decreased to CNY 4,973,160 thousand[19]. - The company achieved operating revenue of 30.74 billion RMB, a year-on-year increase of 22.67%[42]. - Net interest income reached 22.39 billion RMB, growing by 33.17% compared to the previous year[46]. - The company reported a year-end agricultural loan balance of CNY 202.8 billion, with a growth rate exceeding the overall loan growth by 6.3 percentage points[129]. - The company’s net fee and commission income was 3.13 billion RMB, up 28.37% year-on-year[42]. Asset and Liability Management - The total assets of Jiangsu Bank reached RMB 2.55 trillion by the end of the reporting period[9]. - Total assets as of June 30, 2021, amounted to CNY 2,553,294,748, up 9.21% from the end of the previous year[13]. - Total liabilities increased to RMB 23,653 billion, reflecting a growth of 9.72% year-to-date[56]. - The total amount of loans and advances impairment provisions at the end of the reporting period is 4.3608 billion RMB, with a significant portion in the first and second stages[103]. - The total value of other debt investments at the end of the reporting period was 112.9 billion RMB, an increase of 21.09% compared to the beginning of the year[80]. Risk Management - The company emphasizes risk management and has no reported non-operational fund occupation by controlling shareholders[2]. - The company's non-performing loan ratio was 1.16%, which is below the industry standard of 5%[18]. - The company has established a comprehensive risk management system, with a provision coverage ratio of 282.14%, well above the required 150%[18]. - The company maintained a stable and controllable market risk environment throughout the reporting period[94]. - The company has implemented a series of measures to enhance operational risk management, resulting in a generally good control of operational risk[91]. Strategic Initiatives - Jiangsu Bank's mission is to "create a better life" and aims to build a "smart, distinctive, international, and comprehensive" leading service bank[9]. - The company is focusing on expanding its retail business and enhancing customer management as part of its strategic vision[12]. - The bank aims to leverage financial technology, including big data and AI, to improve service delivery and operational efficiency[12]. - The company plans to implement mergers and acquisitions to strengthen its market position and expand its regional footprint[12]. - The company is focusing on enhancing product diversity and risk control while leveraging technology for wealth management transformation[45]. Shareholder and Capital Management - The company does not plan to distribute profits or increase capital reserves through stock conversion for the mid-year of 2021[2]. - A cash dividend of RMB 0.316 per share was distributed to shareholders, totaling RMB 4.667 billion for the 2020 fiscal year[120]. - The company completed a rights issue of 3,225,083,672 shares at a price of 4.59 CNY per share, with a participation rate of 93.12% from 137,900 shareholders[148]. - The company’s total share capital increased from 11,544,522,971 to 14,769,624,242 shares due to the rights issue[142]. - The company’s actual controller is Jiangsu Guoxin Group Co., Ltd., which holds 14.86% of Huatai Securities Co., Ltd.[147]. Customer Engagement and Social Responsibility - The company conducted 1,931 consumer rights protection promotional activities, reaching an audience of 561,800 people[130]. - The company donated over 17 million yuan to social welfare initiatives during the reporting period[132]. - The company established a customer complaint handling process, enhancing customer service through mobile banking and direct banking apps[131]. - The company launched innovative green financial products such as "Green Ticket e贴" and "Green Innovation Combination Loan" to support key industries[126]. - The company established a research center for climate change in collaboration with universities and research institutions[127].