2023-08-30 16:00Financial Performance - The bank reported a total revenue of RMB 1.2 billion for the first half of 2023, representing a year-on-year increase of 15%[9]. - Net profit attributable to shareholders reached RMB 500 million, up 10% compared to the same period last year[9]. - Net profit for the first half of 2023 was RMB 2,407,536 thousand, reflecting a growth of 16.85% from RMB 2,060,334 thousand in the same period last year[10]. - Future guidance indicates a target net profit growth of 12% for the full year 2023[9]. - The effective tax rate increased to 13.59%, up 2.23 percentage points year-on-year, primarily due to the growth in total profit[27]. Asset and Liability Management - The bank's total assets increased to RMB 150 billion, reflecting a growth of 8% year-on-year[9]. - Total assets as of June 30, 2023, amounted to RMB 568,400,907 thousand, representing a 7.32% increase from RMB 529,613,992 thousand at the end of 2022[11]. - The bank's total liabilities amounted to RMB 529.61 billion, an increase of RMB 36.59 billion or 7.42% compared to the end of 2022[73]. - The bank's total deposits reached RMB 377.74 billion, up RMB 29.69 billion or 8.53% year-on-year, accounting for 71.32% of total liabilities[75]. - The bank's equity attributable to shareholders reached RMB 379.39 billion, an increase of RMB 21.22 billion or 5.93% year-on-year[81]. Loan and Deposit Growth - Customer deposits grew by 12% to RMB 120 billion, indicating strong customer confidence[9]. - Customer loans totaled RMB 288,835,557 thousand, up 7.36% from RMB 269,029,452 thousand year-on-year[10]. - Total customer deposits were RMB 370.052 billion, increasing by RMB 28.705 billion, or 8.41% from the previous year[23]. - The bank's total customer loans, including accrued interest, reached RMB 288.84 billion, an increase of 7.36% compared to the end of 2022[62]. - Retail deposits balance was 168.010 billion CNY, up 20.682 billion CNY, representing a growth of 14.04%[134]. Non-Performing Loans and Asset Quality - The non-performing loan ratio improved to 1.5%, down from 1.8% in the previous year[9]. - The non-performing loan ratio improved to 1.14% from 1.21% in the same period last year[12]. - The bank's non-performing loan ratio remained stable, reflecting effective risk management strategies[61]. - The bank's loan impairment provisions increased to RMB 7,814,419 thousand, a rise of 9.49% from the previous year, with a provision coverage ratio of 237.34%[100]. - The bank's focus on improving asset quality is evident, with a decrease in the proportion of substandard loans to 0.43% and suspicious loans to 0.29% as of June 30, 2023[90]. Digital Transformation and Innovation - The bank plans to expand its digital banking services, aiming for a 20% increase in online transactions by the end of 2023[9]. - The company initiated a digital transformation strategy, enhancing data governance and risk management capabilities[26]. - The bank's digital transformation strategy focuses on "online, mobile, and intelligent" development, enhancing service capabilities across four key areas[156]. - The bank launched 28 new projects and successfully put 43 projects into production during the reporting period[156]. - Mobile banking users reached 4.9035 million, an increase of 324,800 users or 7.09% compared to the previous year[153]. Risk Management - The company has implemented a comprehensive risk management strategy, including the establishment of a risk preference indicator system and enhanced monitoring of credit risk across all credit asset portfolios[160]. - The company has launched a smart credit risk warning platform to enhance credit risk assessment and early warning capabilities during the credit management process[161]. - The company actively monitors external policy changes and adjusts its pricing strategies and asset-liability structure to manage interest rate risks effectively[168]. - The operational risk control situation is reported to be good, with effective measures taken to prevent operational risks[176]. - The bank's risk management framework is overseen by the board and includes an audit committee to ensure effective implementation[193]. Community Engagement and Corporate Social Responsibility - The bank actively engaged in community service, organizing 404 community events with over 34,000 participants[197]. - The bank has established a comprehensive consumer rights protection system, enhancing customer service experiences[198]. - The bank implemented 111 free service projects to maximize benefits for enterprises[196]. - The bank's green credit balance reached CNY 23.528 billion, an increase of CNY 2.604 billion, representing a growth of 12.45% compared to the beginning of the year[196]. - The bank has not been penalized for any environmental protection violations during the reporting period[195]. Governance and Shareholder Engagement - The company held its first extraordinary shareholders' meeting in 2023 with a participation rate of 64.81% on February 10, 2023[182]. - The annual shareholders' meeting in 2023 had a participation rate of 68.80% and approved eight resolutions, including the financial report for 2022 and the profit distribution plan[182]. - The company emphasizes the integration of party leadership and corporate governance to enhance governance effectiveness and compliance[181]. - The bank did not distribute cash dividends or issue bonus shares during the reporting period[192]. - The company has seen changes in its board members, including the election of Wu Xianming as the executive director and president on March 20, 2023[188].