上海银行(601229) - 2022 Q1 - 季度财报

Main Financial Data Key Accounting Data and Financial Indicators The Group achieved steady single-digit growth in operating revenue and net profit attributable to the parent company in Q1 2022, with total assets increasing by 3.95% from prior year-end Key Financial Indicators for Q1 2022 | Indicator | Jan-Mar 2022 | Jan-Mar 2021 | YoY Change | | :--- | :--- | :--- | :--- | | Operating Revenue (RMB Thousand) | 14,228,686 | 13,821,572 | +2.95% | | Net Profit Attributable to Shareholders of the Parent Company (RMB Thousand) | 5,853,179 | 5,553,711 | +5.39% | | Basic Earnings Per Share (RMB/share) | 0.41 | 0.39 | +5.13% | | Annualized Net Interest Margin | 1.71% | 1.73% | Down 0.02 percentage points | | Indicator | Mar 31, 2022 | Dec 31, 2021 | Change from Prior Year-end | | Total Assets (RMB Thousand) | 2,757,977,320 | 2,653,198,679 | +3.95% | | Net Assets Attributable to Shareholders of the Parent Company (RMB Thousand) | 211,127,593 | 205,203,632 | +2.89% | - Net cash flow from operating activities significantly changed from -RMB 14.44 billion in the same period last year to a positive inflow of RMB 30.59 billion[3] Non-recurring Gains and Losses Items and Amounts Net non-recurring gains and losses affecting net profit attributable to parent company shareholders totaled RMB 20.23 million, mainly from other net gains and losses Non-recurring Gains and Losses Items for Jan-Mar 2022 | Item | Amount (RMB Thousand) | | :--- | :--- | | Gains/Losses from Disposal of Non-current Assets | -31 | | Other Net Gains/Losses | 27,499 | | Income Tax Impact | -6,921 | | Non-recurring Gains and Losses Affecting Net Profit Attributable to Shareholders of the Parent Company | 20,227 | Capital Adequacy Ratio As of end-March 2022, the Group's capital adequacy ratios improved from prior year-end, meeting regulatory requirements with Common Equity Tier 1, Tier 1, and Total Capital Adequacy Ratios at 9.14%, 10.14%, and 12.30% respectively Capital Adequacy Ratios (Consolidated) | Indicator | Mar 31, 2022 | Dec 31, 2021 | | :--- | :--- | :--- | | Common Equity Tier 1 Capital Adequacy Ratio | 9.14% | 8.95% | | Tier 1 Capital Adequacy Ratio | 10.14% | 9.95% | | Total Capital Adequacy Ratio | 12.30% | 12.16% | Leverage Ratio As of end-March 2022, the Group's leverage ratio slightly decreased to 6.37% from 6.49% at prior year-end, maintaining a stable level - As of end-March 2022, the leverage ratio was 6.37%, with net Tier 1 capital of RMB 203.015 billion and adjusted on- and off-balance sheet assets of RMB 3,186.943 billion[7] Liquidity Coverage Ratio As of end-March 2022, the Group's liquidity coverage ratio significantly improved to 168.81% from 150.51% at prior year-end, indicating ample short-term liquidity - The liquidity coverage ratio increased from 150.51% at end-2021 to 168.81% at end-March 2022, primarily due to an increase in high-quality liquid assets[8] Asset Quality As of end-March 2022, the Group's asset quality remained stable, with the non-performing loan ratio at 1.25% and provision coverage ratio increasing to 303.60%, enhancing risk coverage Core Asset Quality Indicators | Indicator | Mar 31, 2022 | Dec 31, 2021 | | :--- | :--- | :--- | | Non-performing Loan Ratio | 1.25% | 1.25% | | Provision Coverage Ratio | 303.60% | 301.13% | | Loan Loss Provision Ratio | 3.79% | 3.76% | | Percentage of Special Mention Loans | 1.60% | 1.65% | Shareholder Information Common Shareholder Information As of the reporting period end, the company had 136,949 common shareholders, with the top three maintaining a stable equity structure: Shanghai United Investment Co., Ltd. (14.68%), Shanghai International Port Group Co., Ltd. (8.30%), and Banco Santander, S.A. (6.54%) Shareholding of Top Five Common Shareholders | Shareholder Name | Shareholder Nature | Shareholding Percentage | | :--- | :--- | :--- | | Shanghai United Investment Co., Ltd. | State-owned Legal Person | 14.68% | | Shanghai International Port Group Co., Ltd. | State-owned Legal Person | 8.30% | | Banco Santander, S.A. | Overseas Legal Person | 6.54% | | TCL Technology Group Corporation | Domestic Non-state-owned Legal Person | 5.76% | | China Jianyin Investment Ltd. | State-owned Legal Person | 4.84% | Preferred Shareholder Information As of the reporting period end, the company had 28 preferred shareholders, primarily institutional investors including trust and asset management plans, and insurance companies - At the end of the reporting period, the total number of preferred shareholders was 28, with the top two being Huabao Trust - Baofu Investment No. 1 Collective Fund Trust Plan (12.50%) and China Creation Capital Fund - China Merchants Bank (10.00%)[11][12] Management Discussion and Analysis of Operations Asset and Liability Scale Maintained Growth, Business Structure Continuously Adjusted In Q1 2022, the Group's total assets and deposits grew steadily by 3.95% and 3.10% respectively, with optimized credit structure and total customer loans increasing by 2.69% Scale Indicators (As of end-March 2022) | Indicator | Amount (RMB Billion) | Change from Prior Year-end | | :--- | :--- | :--- | | Total Assets | 2,757.98 | +3.95% | | Total Customer Loans and Advances | 1,256.68 | +2.69% | | Total Deposits | 1,495.45 | +3.10% | Overall Stable Operating Performance, Steady Growth in Operating Revenue and Profitability In Q1 2022, the Group achieved RMB 14.229 billion in operating revenue and RMB 5.853 billion in net profit attributable to the parent company, driven by 9.09% YoY growth in net interest income - Net interest income increased by 9.09% YoY, primarily due to the growth in interest-earning assets[15] - Net fee and commission income increased by 3.51% YoY, mainly from the expansion of agency, wealth management, and cross-border businesses[15] - Other non-interest income decreased YoY, affected by the reduction in trading financial assets and changes in market interest rates[15] Asset Quality Generally Stable, Capital Adequacy Meets Regulatory Requirements The Group maintained stable asset quality with a 1.25% non-performing loan ratio and increased provision coverage to 303.60%, while all capital adequacy ratios met regulatory requirements, supported by a planned RMB 20 billion Tier 2 capital bond issuance - As of end-March 2022, the non-performing loan ratio was 1.25%, unchanged from the prior year-end; the percentage of special mention loans decreased by 0.05 percentage points to 1.60% from the prior year-end[16][17] - The total capital adequacy ratio was 12.30%, Tier 1 capital adequacy ratio was 10.14%, and Common Equity Tier 1 capital adequacy ratio was 9.14%, all meeting regulatory requirements[17] Corporate Business Development Corporate business achieved high-quality development by focusing on key areas, with significant loan growth in advanced manufacturing, inclusive, green, technology innovation, and supply chain finance, effectively supporting the real economy - RMB corporate loan balance was RMB 701.914 billion, an increase of 3.44% from the prior year-end[18] Loan Growth in Key Areas (As of end-March 2022) | Loan Area | Balance (RMB Billion) | Change from Prior Year-end | | :--- | :--- | :--- | | Manufacturing Enterprise Loans | 64.364 | +11.64% | | Inclusive Finance Loans | 80.042 | +10.90% | | Green Loans | 47.670 | +57.79% | | Technology-based Enterprise Loans | 80.807 | +8.15% | | Online Supply Chain Loans | 36.815 | +13.99% | Financial Markets, Interbank, and Wealth Management Business Financial market business saw steady growth in bond assets and client-facing income, interbank custody scale expanded, and wealth management successfully transformed with the approval of its wholly-owned subsidiary, Shanghai Bank Wealth Management Co., Ltd - From Jan-Mar 2022, client-facing transaction volume increased by 83.64% YoY, and client-facing business income increased by 24.99% YoY[20] - As of end-March 2022, interbank custody scale reached RMB 1,582.414 billion[20] - From Jan-Mar 2022, wealth management asset management fee income was RMB 457 million, a YoY increase of 20.70%; the wholly-owned subsidiary Shanghai Bank Wealth Management Co., Ltd. was approved for operation in March[20][21] Retail Business Development Retail business, focused on pension finance and wealth management, achieved continuous growth in customer base and AUM, with pension customers remaining number one in Shanghai and wealth management fee income steadily increasing Core Retail Business Indicators (As of end-March 2022) | Indicator | Value | Change from Prior Year-end | | :--- | :--- | :--- | | Retail Customers (Million Accounts) | 19.7035 | +1.26% | | Retail Customer AUM (RMB Billion) | 920.868 | +2.15% | | RMB Personal Deposit Balance (RMB Billion) | 405.688 | +6.65% | | RMB Personal Loan Balance (RMB Billion) | 379.201 | -2.27% | - Pension customers reached 1.6122 million accounts, with AUM of RMB 427.378 billion, an increase of 2.58% from the prior year-end[21] - From Jan-Mar 2022, wealth management intermediate business income was RMB 448 million, a YoY increase of 7.18%[22] Fintech and Digital Transformation The company advanced fintech development, enhancing delivery efficiency through agile R&D and increasing financial service product delivery capacity by 25% YoY in March, while strengthening data-driven management and AI capabilities for digital transformation - The fintech team formed 25 tribes and 225 squads to implement agile R&D[24] - In March 2022, financial service product delivery capacity increased by approximately 25% YoY[24] - Launched a special data governance initiative, driven by 2 backbone projects and 20 key projects, to accelerate enterprise-level digital transformation[25] Other Significant Matters Convertible Bond Information The company completed the annual interest payment for "Shanghai Bank Convertible Bonds" on January 25, 2022, with RMB 1.278 million of convertible bonds converted into A-share common stock by the reporting period end - As of March 31, 2022, a cumulative RMB 1.278 million of "Shanghai Bank Convertible Bonds" had been converted, resulting in 120,143 shares[26] Wealth Management Subsidiary Commencement of Operations In March 2022, the company's wholly-owned subsidiary, Shanghai Bank Wealth Management Co., Ltd., was approved for operation, marking a new development stage for its wealth management business - The company's wholly-owned subsidiary, Shanghai Bank Wealth Management Co., Ltd., was approved by regulatory authorities to commence operations in March 2022[27] Quarterly Financial Statements Consolidated Balance Sheet The statement presents the Group's financial position as of March 31, 2022, with total assets of RMB 2.76 trillion, total liabilities of RMB 2.55 trillion, and total equity attributable to parent company shareholders of RMB 211.13 billion Key Balance Sheet Items (March 31, 2022) | Item | Amount (RMB Thousand) | | :--- | :--- | | Total Assets | 2,757,977,320 | | Total Liabilities | 2,546,276,539 | | Total Equity Attributable to Shareholders of the Parent Company | 211,127,593 | Consolidated Income Statement The statement presents Q1 2022 operating results, with operating revenue of RMB 14.229 billion, net profit of RMB 5.862 billion, and net profit attributable to parent company shareholders of RMB 5.853 billion Key Income Statement Items (Jan-Mar 2022) | Item | Amount (RMB Thousand) | | :--- | :--- | | Operating Revenue | 14,228,686 | | Operating Profit | 6,191,071 | | Net Profit | 5,861,554 | | Net Profit Attributable to Shareholders of the Parent Company | 5,853,179 | Consolidated Cash Flow Statement The statement presents Q1 2022 cash flow changes, with net cash flow from operating activities turning positive at RMB 30.591 billion, net cash outflow from investing activities at RMB 16.823 billion, and net cash inflow from financing activities at RMB 12.382 billion Key Cash Flow Statement Items (Jan-Mar 2022) | Item | Amount (RMB Thousand) | | :--- | :--- | | Net Cash Flow from Operating Activities | 30,590,863 | | Net Cash Flow from Investing Activities | (16,822,689) | | Net Cash Flow from Financing Activities | 12,382,397 | | Cash and Cash Equivalents at Period End | 82,567,676 |