SRCB(SH:601825)2023-08-23 16:00Financial Performance - The company achieved operating revenue of RMB 13,885.80 million for the first half of 2023, a year-on-year increase of 7.93% compared to RMB 12,865.98 million in the same period of 2022[31]. - Net profit for the first half of 2023 reached RMB 7,150.74 million, reflecting an 18.15% increase from RMB 6,052.24 million in the first half of 2022[31]. - Total assets as of June 30, 2023, amounted to RMB 1,359,469.61 million, up 6.09% from RMB 1,281,399.12 million at the end of 2022[31]. - The total amount of loans and advances was RMB 696,514.13 million, representing a 3.86% increase from RMB 670,623.04 million at the end of 2022[31]. - The total profit for the first half of 2023 was 8,594.26 million RMB, up 17.12% from 7,337.77 million RMB in the same period of 2022[59]. Risk Management - The company has effectively managed various operational risks, including credit, market, liquidity, and operational risks[3]. - The company has no foreseeable major risks and has implemented measures to manage and control various operational risks[3]. - The company maintains a low non-performing loan ratio, reflecting its commitment to sound risk management practices[25]. - The bank's non-performing loan ratio stood at 0.95%, an increase of 0.01 percentage points from the end of last year, but a decrease of 0.02 percentage points from the first quarter of this year[196]. - The bank will enhance its credit risk management framework and improve the credit risk warning system to support sustainable asset quality[200]. Strategic Focus - The company focuses on inclusive finance, digital transformation, and customer-centric strategies as part of its core strategy[18][19]. - The operational strategy emphasizes customer priority, small and micro enterprises, retail business focus, and digital management[22]. - The company aims to establish itself as a quality bank with robust development, a model for ESG management, and a pioneer in inclusive finance from 2023 to 2025[21]. - The company plans to continue optimizing its asset-liability structure to enhance operational efficiency, as indicated by a 49.77% increase in investment income and fair value changes[54]. - The bank aims to strengthen its comprehensive financial service model to better meet corporate financing and equity management needs[194]. Customer Engagement - The company has a strong customer base with a coverage rate of 98.15% in Shanghai's 108 townships, maintaining high customer loyalty and retention[25]. - The number of personal customers (excluding credit card customers) increased to 21.87 million, a growth of 4.44% year-on-year[151]. - The company has established 465 "Heart Home" public service stations, enhancing brand recognition and trust in inclusive finance services[179]. - The remote banking center achieved a customer satisfaction rate of 99.47% for artificial services[184]. - The company has served nearly 2,000 new agricultural entities, providing a total of 1.88 billion yuan in loans to the upstream and downstream clients of the industrial chain[136]. Awards and Recognition - The company has received numerous accolades, including ranking 128th in the 2023 Global Bank Rankings by The Banker magazine and 310th in the 2023 Fortune China 500 list[28]. - The company has been recognized for its excellence in capital value and ESG practices, receiving the 2023 ESG Exemplary Award[28]. - The company received multiple awards for its financial technology innovations, including the Diamond Award at the third China RPA+AI Developer Competition[167]. Digital Transformation - The company has successfully launched a new generation corporate credit management system, enhancing risk management and enabling full online processes for non-retail credit business[171]. - The number of dedicated financial technology personnel increased by 3.92% to 743, representing 8.56% of the total workforce, highlighting the company's commitment to digital transformation[167]. - The company launched a new version of its corporate online banking platform, enhancing user experience and expanding its service offerings[170]. - The average daily transaction volume of the core accounting system was 7.75 million transactions, representing a year-on-year increase of 24.13%[182]. - The company has optimized its branch layout, with suburban branches accounting for three-quarters of total branches and serving over 70% of customers[178]. Financial Health - The company's capital adequacy ratio was 15.33% as of June 30, 2023, down 0.13 percentage points from 15.46% at the end of 2022[32]. - The bank's leverage ratio stood at 7.48% as of June 30, 2023, down from 7.62% at the end of 2022[104]. - The total liabilities of the group were RMB 1,248.67 billion, reflecting an increase of RMB 72.85 billion or 6.21% from the end of last year[71]. - The total equity attributable to shareholders increased by 5.03% to RMB 106.959 billion compared to the end of the previous year[78]. - The company's net interest margin decreased to 1.67% in the first half of 2023, down from 1.78% in the same period of 2022[32].