Recognition and Awards - In 2023, China Cinda Asset Management Co. achieved significant recognition, including the "2023 Outstanding Listed Company" award and "Top 100 Chinese Enterprises Award" among others[3]. - The company has been recognized as one of the "Top 10 Global Asset Management Brands" by Brand Finance in 2023[3]. - The company has been recognized with multiple awards, including "Industry Leading Enterprise" and "Outstanding Listed Company," reflecting its commitment to ESG principles[27]. Business Operations - The company operates in 30 provinces and municipalities in mainland China, with 33 branches and nine subsidiaries focused on non-performing asset management and financial services[2]. - China Cinda's core business remains non-performing asset management, which is crucial for its operations[2]. - The group operates in two segments: distressed asset management and financial services, which include banking, securities, futures, public funds, trust, and leasing businesses[80]. Financial Performance - In 2023, the total revenue of China Cinda Asset Management Co., Ltd. was RMB 76,167.8 million, a decrease of 5.7% compared to RMB 80,988.4 million in 2022[14]. - The profit attributable to shareholders of the company was RMB 5,820.9 million, a decrease of 7.8% from RMB 6,313.4 million in the previous year[14]. - The company reported a net profit of RMB 6,993.5 million for the year, compared to RMB 7,231.3 million in 2022, reflecting a decline of 3.3%[14]. - The total interest expenses were RMB 44,080.5 million, an increase of 5.0% from RMB 40,081.1 million in the previous year[14]. - The average return on equity decreased to 2.70% in 2023 from 3.38% in 2022[16]. - The total liabilities of the company were RMB 1.377 trillion, a slight decrease from RMB 1.408 trillion in 2022[19]. Asset Management and Investments - The company acquired non-performing assets from financial institutions totaling RMB 180 billion throughout the year, alleviating operational pressure on these institutions[20]. - China Cinda launched two investment funds for distressed enterprises, each with a scale of RMB 30 billion, which helped resolve non-performing assets amounting to RMB 258.6 billion[22]. - The company focused on the non-performing asset market, consolidating its core business advantages in 2023[94]. - The company’s debt-to-equity conversion assets totaled RMB 100,881.1 million in 2023, up from RMB 97,004.3 million in 2022, marking an increase of 3.9%[141]. Risk Management - The company is committed to risk management and maintaining financial stability as part of its operational philosophy[5]. - The risk management framework involves all employees, ensuring proactive management and timely adjustments to risk control policies[189]. - The company established a comprehensive risk management system covering eight major risk categories, including credit risk, market risk, and liquidity risk, and revised multiple risk management policies in 2023[195]. Employee and Organizational Development - The total number of employees in the group is approximately 14,000[2]. - The company conducted over 2,100 training sessions in 2023, with more than 200,000 participants, enhancing employee professional capabilities[188]. - The company emphasizes a market-oriented compensation policy linked to operational performance, focusing on efficiency and fairness[187]. Social Responsibility and Community Engagement - China Cinda is actively involved in social responsibility initiatives, being recognized among the "Top 500 Charitable Companies" in China[3]. - The company supported government initiatives to ensure the delivery of nearly 40,000 residential units, promoting over RMB 100 billion in project resumption[22]. Strategic Initiatives and Future Plans - The company aims to build an internationally recognized brand in asset management and financial services, emphasizing core competitiveness[5]. - The company plans to distribute a cash dividend of RMB 0.4576 per 10 shares for the year 2023, subject to approval at the annual general meeting[10]. - The company aims to enhance its digital transformation, optimizing business processes and improving operational efficiency[25].
中国信达(01359) - 2023 - 年度财报