SRCB(SH:601825)2024-04-25 12:09Financial Performance - Total assets reached RMB 7,114.83 billion, an increase of 8.65% from the previous year[33]. - Total loans and advances amounted to RMB 6,706.23 billion, reflecting a growth of 6.09% year-on-year[34]. - Total liabilities were RMB 12,758.55 billion, down by 8.52% compared to the end of 2022[34]. - Customer deposits totaled RMB 10,164.12 billion, a decrease of 7.73% from the previous year[34]. - Net profit attributable to shareholders was RMB 109.74 billion, representing a decline of 9.6% year-on-year[41]. - Non-interest income decreased to RMB 48.73 billion, down 17.26% from the previous year[41]. - The bank's capital adequacy ratio stood at 13.32%, slightly lower than the previous year's 13.35%[38]. - The non-performing loan ratio improved to 11.34%, a decrease of 0.12 percentage points from the previous year[38]. - The bank plans to distribute a cash dividend of RMB 3.79 per 10 shares, totaling RMB 36.55 billion[48]. - The bank's net profit attributable to shareholders for the year was CNY 12.142 billion, an increase of 10.64%[56]. - The operating revenue for the year was CNY 26.414 billion, with a growth of 3.07%[56]. - The average return on total assets was 0.93%, and the weighted average return on equity was 11.34%[56]. - The total liabilities as of December 31, 2023, were RMB 1,275,855,205 thousand, an 8.52% increase from RMB 1,175,683,474 thousand in 2022[72]. - The company achieved a basic earnings per share of RMB 1.26 for 2023, a 10.53% increase from RMB 1.14 in 2022[72]. - The total profit for the year was RMB 14,886.47 million, reflecting an 8.91% increase compared to 2022[88]. Asset Quality and Risk Management - The non-performing loan ratio stood at 0.97%, with a capital adequacy ratio of 15.74% and a provision coverage ratio of 404.98%, indicating solid risk compensation capabilities[51]. - The non-performing loan ratio at the end of the reporting period was 0.97%, indicating stable asset quality[57]. - The company maintained a low non-performing loan ratio, reflecting its commitment to prudent risk management practices[68]. - The company has established a comprehensive risk management system, ensuring clear risk strategies and preferences[68]. - The company is committed to maintaining stable credit asset quality while enhancing post-loan management and non-performing asset management[198]. - The company will continue to strengthen risk management and improve credit risk warning systems to adapt to external regulatory dynamics[198]. - The company is focusing on risk management in key areas such as real estate, inclusive small and micro loans, and retail online loans to maintain overall asset quality stability[199]. Customer Base and Market Presence - The number of retail customers served exceeded 23 million, and the number of corporate clients surpassed 340,000, with over 50,000 clients in the micro and small enterprise sector[52]. - The bank has served nearly 6,900 technology-based enterprises, with a loan balance exceeding CNY 92 billion for these clients[52]. - The company has a strong local market presence in Shanghai, leveraging its extensive network and solid customer base in suburban areas for business development[199]. - The company has established 357 branches in Shanghai, with 274 located in suburban areas, achieving 77% coverage of suburban towns[200]. Digital Transformation and Innovation - The bank's digital transformation strategy, named "FOCUS," aims to enhance digital financial product offerings and improve service capabilities[53]. - The company launched new financial products, including "R&D loans" and "Xin Ke Quick Loans," tailored for technology enterprises[159]. - The company launched various investment strategies to help clients hedge risks and preserve asset value in a volatile market environment[176]. - The company has implemented a digital risk management support system, enhancing its risk measurement and capital management capabilities[184]. - The company completed the second round of digital transformation initiatives, focusing on integrating business and technology[177]. Green Finance and Sustainability - The bank's green finance initiatives included the establishment of a "2+N" institutional framework for green finance[58]. - The company's green credit balance reached CNY 61.431 billion, an increase of 41.00%, significantly higher than the overall credit growth rate during the same period[160]. - The balance of green bonds held by the company was CNY 11.549 billion, with a growth rate of 27.84%, positioning it among the top rural financial institutions in the country[160]. - The company launched innovative green financial products, including the first "carbon neutral/rural revitalization" green medium-term notes in Shanghai[160]. - The company issued its first ESG report and aligned its environmental information disclosure with international TCFD standards[175]. Corporate Governance and Strategic Vision - The bank's governance structure is balanced and effective, supporting long-term development through a market-oriented approach[68]. - The bank's strategic vision includes becoming a leading bank in inclusive finance and a model for ESG management[67]. - The company plans to continue optimizing its asset-liability structure and respond flexibly to market changes to maintain profitability[195]. - The company is focusing on improving internal capital resource allocation and enhancing its capital management capabilities in response to new capital regulations effective January 1, 2024[197]. Product and Service Development - The company launched over 500 new products during the reporting period, enhancing its product matrix and diversifying its offerings[152]. - The company achieved a 29.92% year-on-year increase in loans to technology enterprises, reaching a total of 92.516 billion yuan, with the number of technology enterprise loan customers growing by 33.13% to 3,275[173]. - The company launched new inclusive finance products, including "Easy Loan" and "Micro Enterprise Loan," expanding its product line[184]. - The company is preparing for custodial cooperation with multiple financial institutions after obtaining approval for securities investment fund custody[170]. Awards and Recognition - The company received multiple awards in 2023, including recognition in the "Top 100 Global Banks" ranking at 128th place[70]. - The company received multiple awards for its market influence and innovation in the financial sector, including recognition from the China Foreign Exchange Trading Center and the Shanghai Gold Exchange[176].