Financial Performance - In 2022, the total revenue was RMB 80,988.4 million, a decrease of 17.1% compared to RMB 97,731.0 million in 2021[19]. - The net profit attributable to shareholders was RMB 6,313.4 million in 2022, down from RMB 12,061.7 million in 2021, a decline of 47.7%[19]. - The pre-tax profit from continuing operations was RMB 10,457.6 million in 2022, down from RMB 19,378.9 million in 2021, a decrease of 46.0%[19]. - The impairment losses on assets were RMB (13,258.0) million in 2022, compared to RMB (11,722.9) million in 2021, indicating an increase in impairment[19]. - The fair value changes of non-performing debt assets were RMB 11,284.3 million in 2022, down from RMB 15,475.8 million in 2021, a decline of 27.0%[19]. - The company reported a return on equity (ROE) of 3.38% and a return on assets (ROA) of 0.45% for the year[42]. - The average return on equity decreased to 3.38% in 2022 from 7.15% in 2021[21]. - The cost-to-income ratio increased significantly to 44.02% in 2022, compared to 32.15% in 2021[21]. - The company's total expenses decreased by 5.6% to RMB 79,466.6 million from RMB 84,148.5 million in 2021[43]. - The impairment loss of financial assets measured at amortized cost increased by 49.9% from RMB 4,334.3 million in 2021 to RMB 6,498.3 million in 2022[69]. Asset Management - The company’s core business focuses on the management of non-performing assets, which is critical for its operations[2]. - The non-performing asset management business accounted for 70.5% of the group's total revenue in 2022, down from 78.9% in 2021, and contributed 41.0% to pre-tax profit[75]. - The company maintained a leading position in the non-performing asset business, focusing on asset acquisition and disposal strategies[24]. - The total amount of non-performing loans purchased from financial institutions decreased by 28.7% to RMB 4,516.8 million, and from non-financial institutions decreased by 25.1% to RMB 103,471.9 million, resulting in a total decrease of 25.3% to RMB 107,988.7 million[89]. - The company acquired RMB 53,665.6 million in real estate assets, accounting for 47.4% of total acquisitions in 2022, up from 42.0% in 2021[120]. - The company’s acquisition of financial non-performing assets in 2022 was RMB 55,682.2 million, an increase from RMB 48,564.1 million in 2021[107]. - The company’s operational model for non-performing assets includes acquisition and restructuring strategies[110]. - The net amount of acquired operating non-performing assets reached RMB 241,034.2 million, representing a 16.9% increase from RMB 205,666.8 million in 2021[114]. Strategic Initiatives - The company plans to focus on market expansion and new product development in the upcoming fiscal year[18]. - The company is committed to improving risk management strategies to mitigate potential financial uncertainties[18]. - The company aims to maintain stability in the financial system and promote the reform and development of state-owned banks and enterprises[2]. - The company is enhancing its digital transformation efforts, aiming to improve risk management and decision-making through data-driven approaches[26]. - The company plans to continue focusing on stable operations and innovative development to enhance long-term value for investors[38]. - The company aims to strengthen its scientific judgment, professional management, and efficient execution capabilities for sustainable growth[38]. - The company is committed to implementing national policies to stabilize the economy and ensure the well-being of its stakeholders[40]. - The company will focus on increasing investment in non-performing asset management to solidify its core position in this area[185]. Awards and Recognition - The company received multiple awards in 2022, including the "Most Investment Value High-Quality Development Listed Company" and "Top 100 Enterprises in China" awards[3]. - The company has been recognized in various ESG rankings, indicating its commitment to sustainable practices[3]. Corporate Governance - The board of directors held its fourth meeting of 2023 on March 28, 2023, to approve the annual report for 2022[14]. - The current chairman and executive director, Zhang Weidong, has been in his position since June 2022, with a background in various financial roles since 1992[196]. - Liang Qiang has served as the executive director and president since October 2022, with extensive experience in the company since 1999[197]. - Zhao Limin has been an executive director and vice president since May 2022, previously holding multiple managerial positions within the company[198]. - The board of directors includes a mix of executive and non-executive members, with terms ranging from 2022 to 2025[194]. Risk Management - The company established a comprehensive risk management system covering seven major risk categories, including credit risk and market risk, and implemented a risk limit management plan[170]. - The company updated its recovery plan for 2022 to address extreme risk challenges, enhancing its systemic risk control mechanisms[171]. - The company actively promotes the construction of risk management information systems, successfully launching a risk monitoring platform and developing predictive systems for customer default probabilities[173]. - The company emphasizes a balanced development of benefits, quality, and scale while maintaining a stable risk appetite and ensuring capital adequacy in compliance with regulatory requirements[167]. - The company is committed to enhancing customer experience and optimizing service processes in both online and offline channels[138]. Financial Position - As of December 31, 2022, the total assets of the company reached RMB 1,615.99 billion, an increase from RMB 1,564.28 billion in 2021[20]. - The total liabilities amounted to RMB 1,407.99 billion, up from RMB 1,362.50 billion in 2021[20]. - The company's equity attributable to shareholders increased by 5.8% from RMB 178,800.8 million in 2021 to RMB 188,205.7 million in 2022[77]. - The company's cash and deposits with central banks decreased by 7.6% from RMB 18,045.7 million in 2021 to RMB 16,677.4 million in 2022[77]. - The company's total liabilities increased to RMB 1,407,993.9 million in 2022, up from RMB 1,362,503.8 million in 2021, marking a growth of 3.3%[77]. Employee Development - The employee count as of December 31, 2022, was 13,717, a decrease from 14,723 in 2021, with a notable increase in the proportion of employees with bachelor's degrees or higher to 92%[162]. - The company completed over 3,300 training sessions in 2022, benefiting more than 300,000 participants, to support business transformation and high-quality development[164]. Digital Transformation - The company is advancing its "Digital Cinda" strategy, achieving significant progress in data governance and technology empowerment[158]. - The risk monitoring platform was successfully launched, enabling proactive risk identification and supporting dynamic risk monitoring and assessment[159].
中国信达(01359) - 2022 - 年度业绩