Financial Performance - In 2022, the total revenue of China Huarong was RMB 37,264 million, a significant decrease from RMB 68,093.9 million in 2021, representing a decline of approximately 45.4%[12]. - The net loss attributable to shareholders for the year 2022 was RMB 27,581.1 million, compared to a profit of RMB 378.5 million in 2021, indicating a substantial turnaround in performance[13]. - Interest income for 2022 was RMB 11,225.4 million, down from RMB 13,592.1 million in 2021, reflecting a decrease of about 17.5%[12]. - The total expenses for 2022 amounted to RMB 75,063.1 million, an increase from RMB 64,240.4 million in 2021, marking an increase of approximately 16.5%[13]. - The company reported a significant increase in other income and gains, which reached RMB 6,490.1 million in 2022, compared to RMB 2,777.4 million in 2021, representing an increase of about 133.5%[12]. - The impairment losses on credit for 2022 were RMB 29,381 million, a notable increase from RMB 13,214.6 million in 2021, indicating a rise of approximately 122%[13]. - The tax benefit for the year was RMB 3,734.8 million, compared to a tax expense of RMB 4,211.9 million in 2021, indicating a positive shift in tax position[13]. - The fair value changes of other financial assets and liabilities resulted in a loss of RMB 11,158.2 million in 2022, contrasting with a gain of RMB 11,599.3 million in 2021[12]. - The average return on equity was -51.9% in 2022, compared to 1.0% in 2021, indicating a significant decline in profitability[16]. - Basic loss per share was RMB (0.34) in 2022, compared to earnings of RMB 0.01 in 2021, reflecting a substantial loss[16]. Asset and Liability Management - Total assets decreased to RMB 955,326.0 million in 2022 from RMB 1,568,421.8 million in 2021, representing a decline of approximately 39%[14]. - Total liabilities decreased to RMB 906,946.6 million in 2022 from RMB 1,464,437.4 million in 2021, a reduction of about 38%[15]. - Cash and deposits with central banks decreased to RMB 23.2 million in 2022 from RMB 23,956.5 million in 2021, a drop of approximately 99.9%[14]. - Loans and advances to customers fell sharply to RMB 38.5 million in 2022 from RMB 247,164.0 million in 2021, a decrease of about 99.9%[14]. - The company reported a significant reduction in financial assets at fair value through profit or loss, which decreased to RMB 309,455.9 million in 2022 from RMB 351,047.7 million in 2021, a decline of approximately 11.8%[14]. - Other liabilities decreased to RMB 68,867.6 million in 2022 from RMB 109,478.6 million in 2021, a reduction of about 37.2%[15]. - The debt-to-asset ratio increased to 94.9% in 2022 from 93.4% in 2021, indicating a higher level of leverage[16]. Non-Performing Assets - In 2022, the proportion of non-performing asset business increased from 52% to 76% after the completion of equity transfers of five financial subsidiaries[19]. - The company completed the acquisition of non-performing assets from small and medium-sized banks totaling over RMB 30 billion in 2022[27]. - The total amount of non-performing assets decreased by 16.7% from RMB 332,854.4 million at the end of 2021 to RMB 277,426.6 million at the end of 2022[42]. - The total amount of non-performing loans was RMB 444,874.1 million as of December 31, 2022, down from RMB 490,820.4 million in 2021[107]. - The income from non-performing asset management was RMB 28,628.9 million in 2022, down from RMB 34,522.4 million in 2021[108]. - The total disposed non-performing assets in 2022 amounted to RMB 26,339.2 million, a decrease of 22.6% compared to RMB 33,958.4 million in 2021[117]. - The total amount of non-performing assets at the end of 2022 was RMB 182,951.0 million, showing an increase from RMB 179,934.8 million at the end of 2021[117]. Corporate Governance and Management - The company emphasizes the integration of party leadership with corporate governance to strengthen internal management and risk control[20]. - The company has undergone a leadership adjustment, welcoming new executives to drive high-quality development[22]. - The supervisory board is composed of a mix of internal and external members, enhancing its independence and expertise[198]. - The company is committed to maintaining high standards of corporate governance through its supervisory board structure[197][198]. - The experience of board members spans various sectors, including banking, asset management, and legal advisory, contributing to a well-rounded governance approach[199][200]. Strategic Initiatives and Future Outlook - The company plans to achieve significant quality and efficiency improvements within three years and become an industry benchmark within five years as part of its "14th Five-Year" development plan[19]. - The company aims to enhance its asset layout and adjust its business structure in line with the "135" strategic goals for high-quality development[23]. - The company is focused on deepening institutional reforms and improving operational efficiency to achieve cost reduction and efficiency enhancement[23]. - The company will continue to optimize asset allocation and enhance risk management capabilities in line with national strategic deployments[174]. - In 2023, the company anticipates challenges from global economic downturns and inflation risks, but remains optimistic about China's economic resilience and potential[172].
中国华融(02799) - 2022 - 年度业绩