2019-03-29 16:00Financial Performance - The total operating income for 2018 was RMB 212,654 million, an increase of 8.5% compared to RMB 196,011 million in 2017[17]. - The net profit attributable to shareholders for 2018 was RMB 73,630 million, reflecting a growth from RMB 70,223 million in 2017, representing a 5.5% increase[19]. - The total assets at the end of 2018 amounted to RMB 9,531,171 million, compared to RMB 9,038,254 million in 2017, indicating a growth of 5.5%[20]. - The non-performing loan ratio for 2018 was 1.49%, slightly improved from 1.50% in 2017[22]. - The cost-to-income ratio for 2018 was 31.50%, a slight increase from 31.85% in 2017[22]. - The weighted average return on equity for 2018 was 11.17%, down from 11.40% in 2017[21]. - The average asset return rate for 2018 was 0.80%, consistent with the previous year[20]. - The net cash flow from operating activities was RMB 123,892 million, a significant increase of 1,054.95% compared to RMB 10,727 million in 2017[24]. - The total profit for the group was RMB 86.07 billion, with a total operating income of RMB 212.65 billion, compared to RMB 83.27 billion and RMB 196.01 billion in the previous year[128]. Customer and Market Growth - The bank aims to enhance customer base, improve customer experience, and strengthen non-banking and international businesses as part of its strategic goals[5]. - The bank's strategic vision includes becoming the best wealth management bank through internationalization and comprehensive services[5]. - The bank's total customer loans reached RMB 4,854,228 million, a growth of 6.00% from RMB 4,579,256 million in 2017[24]. - The total customer deposits increased to RMB 5,724,489 million, up 3.23% from RMB 5,545,366 million in 2017[24]. - Business revenue increased by 123%, with significant growth in key retail customer segments[31]. - The bank's credit card consumption ranked second in the market, with rapid growth in mobile transaction volume and amount[31]. - The number of mobile banking registered customers reached 74.14 million, a growth of 21.42% year-on-year[39]. - The number of corporate online banking users increased by 18.54% year-on-year, while personal online banking users grew by 12.64%[81]. Risk Management - The bank's risk management framework is designed to address credit, market, operational, and compliance risks effectively[10]. - The provision coverage ratio increased by 18.40 percentage points to 173.13%, enhancing the company's risk management foundation[32]. - The bank's credit risk management framework includes strict guidelines for credit approval, monitoring, and post-loan management to maintain risk within acceptable limits[173]. - The bank has established a comprehensive risk management system that includes a "1+4+2" risk management committee structure to oversee various risk types[171]. - The bank actively utilizes financial technology, including big data and AI, to enhance risk management capabilities and improve monitoring systems[172]. Strategic Initiatives - The bank's strategic focus includes technology empowerment, risk management, and talent development to drive transformation and improve operational efficiency[5]. - The bank is committed to enhancing risk management capabilities through advanced data analysis and risk models[31]. - The company plans to continue expanding its market presence and enhancing its product offerings in the upcoming fiscal year[23]. - The company aims to contribute to China's high-quality economic development by enhancing cross-border and cross-industry service capabilities[33]. - The management team emphasized the importance of integrating financial technology to enhance wealth management services, aiming for more equitable and efficient financial services[33]. International Expansion - The establishment of the Melbourne branch and the approval of the investment subsidiary mark significant market expansion efforts[31]. - The group established 22 branches and representative offices in 16 countries and regions[44]. - The strategic cooperation between the Bank of Communications and HSBC has facilitated projects totaling approximately USD 4.7 billion for Chinese enterprises going abroad[192]. - The group plans to enhance its internationalization strategy by expanding its overseas service network, with 22 overseas branches established in 16 countries and regions[84]. Historical Significance and Reputation - The bank has a 110-year history and is one of the oldest banks in China, having been restructured as a national joint-stock commercial bank in 1987[7]. - In 2018, the company celebrated its 110th anniversary, reinforcing its historical significance and cultural pride within the financial sector[32]. - The company has a long-standing reputation as one of China's oldest financial brands, enhancing its market recognition and credibility[45]. Technological Advancements - The bank's online financial business center was established to enhance digital transformation and technology application in banking services[47]. - The company launched the "e动付" mobile payment product and expanded its global cash management services, optimizing account opening processes and enhancing customer experience[153]. - The company implemented advanced technologies such as voiceprint recognition and intelligent customer service, with 200 intelligent robot seats reducing manual call volume by 10%[69]. - The company established a blockchain-based asset securitization system, "链交融", marking a significant innovation in the market[155]. Governance and Shareholding Structure - The company has a stable and balanced shareholding structure, with a diversified and professional board of directors[45]. - The total number of ordinary shares at the end of the reporting period was 74,262,726,645, with A-shares accounting for 52.85% and H-shares for 47.15%[196]. - The Chinese government holds 43,750,157,981 shares, representing 58.91% of the total ordinary shares, with state shares at 33,331,922,786, or 42.19%[196].