Suzhou Rural Commercial Bank(SH:603323)2022-04-27 16:00Financial Performance - The company's operating revenue for 2021 was CNY 3,834,238, an increase of 2.17% compared to CNY 3,752,835 in 2020[20]. - Net profit for 2021 reached CNY 1,161,439, reflecting a growth of 21.13% from CNY 958,828 in 2020[20]. - The total assets at the end of 2021 amounted to CNY 158,724,694, representing a 13.83% increase from CNY 139,440,364 in 2020[20]. - The company's net assets attributable to shareholders increased by 9.38% to CNY 13,147,222 at the end of 2021, up from CNY 12,020,228 in 2020[20]. - The loan total for 2021 was CNY 95,261,263, which is a 21.26% increase from CNY 78,558,537 in 2020[20]. - The basic earnings per share for 2021 was CNY 0.64, up 20.75% from CNY 0.53 in 2020[23]. - The capital adequacy ratio stood at 12.99%, exceeding the regulatory requirement of 10.5%[23]. - The non-performing loan ratio was reported at 1.00%, which is below the regulatory limit of 5%[23]. - The weighted average return on equity increased to 9.31%, up from 8.07% in 2020[23]. - Operating income reached CNY 3.834 billion, with net profit attributable to shareholders at CNY 1.160 billion, a year-on-year growth of 21.96%[31]. Risk Management - The company has taken measures to effectively manage and control various risks, including credit, market, liquidity, and operational risks[8]. - The company has no foreseeable major risks and has not engaged in non-operational fund occupation by controlling shareholders[8]. - The bank's loan balance and risk exposure to related natural persons amounted to CNY 29.97 million as of the end of the reporting period[104]. - The bank has implemented a comprehensive credit risk management strategy, including the establishment of a dynamic risk control and structural adjustment client list, which allows for effective risk mitigation[91]. - The liquidity risk management framework has been revised to enhance monitoring and forecasting of liquidity gaps across various business lines[92]. Corporate Governance - The company held 2 shareholder meetings during the reporting period, passing 16 resolutions[113]. - The board of directors consists of 14 members, including 4 executive directors and 10 non-executive directors, complying with regulatory requirements[114]. - The supervisory board conducted 5 special inspections and meetings, passing 21 resolutions related to financial reports and internal controls[115]. - The bank's specialized committees held 23 meetings, approving 112 resolutions, indicating active governance[116]. - The company has not identified any major differences in corporate governance compared to regulations set by the China Securities Regulatory Commission[121]. Employee Development - The company is focused on building a learning organization to improve talent quality and optimize talent structure[160]. - The company has a training plan in place to support employee development[159]. - The company organized a total of 108 training sessions in 2021, with an average of 159.53 hours of training per employee[160]. - The company has established a market-oriented human resource management system, including performance and salary management mechanisms to promote sustainable development[158]. Market Expansion and Strategy - The company plans to expand its market presence, as indicated by the approval of a proposal to change its registered address during the first extraordinary general meeting[122]. - The company plans to expand its market presence in key regions, targeting a 15% increase in market share over the next year[127]. - The bank launched the "Smart Manufacturing Loan" product to support industrial enterprises' intelligent transformation and digitalization[105]. - The bank is committed to supporting rural revitalization through tailored financial services and has identified significant growth opportunities in this area[106]. Green Finance Initiatives - The company's green finance initiatives were recognized, being awarded as a "demonstration financial institution for green finance innovation" in Jiangsu Province[35]. - The bank's green loan balance reached 2.879 billion yuan, with an increase of 733 million yuan, representing a growth rate of 34.16% compared to the beginning of the year[172]. - The bank successfully issued Jiangsu province's first cultural tourism rural revitalization bond financing plan, enhancing its support for the real economy[176]. - The bank's green credit system was optimized to strengthen environmental risk control and ensure compliance with environmental standards for new loans[172]. Dividend Policy - The company plans to distribute a cash dividend of RMB 1.6 per 10 shares (including tax) based on the total share capital on the dividend record date[6]. - The company plans to distribute at least 10% of the distributable profits as cash dividends in any given year from 2020 to 2022, with a cumulative distribution of no less than 30% of the average annual distributable profits over the last three years[162]. Financial Technology and Innovation - The bank's financial technology strategy focuses on product onlineization, business platformization, operational digitalization, and service ecologicalization[105]. - The bank developed the "Credit E-Loan" product to enhance user experience and optimize non-contact financial service scenarios[105]. - The bank successfully integrated digital RMB applications, becoming one of the first rural commercial banks to do so[31]. Community Engagement - The bank donated a total of 3.398 million yuan to support local economic and social development, receiving multiple awards for its charitable contributions[176]. - The bank's volunteer service program engaged over 2,000 participants in various community support activities throughout the year[176].