2024-04-29 11:06Financial Performance - The total operating income for Q1 2024 was RMB 34,487 million, a decrease of 9.62% compared to RMB 38,158 million in Q1 2023[9] - Net profit for Q1 2024 was RMB 12,495 million, slightly up by 0.33% from RMB 12,454 million in the same period last year[9] - The net profit attributable to shareholders of the bank was RMB 12,426 million, an increase of 0.39% from RMB 12,378 million in Q1 2023[9] - Basic earnings per share (EPS) for Q1 2024 was RMB 0.18, a decrease of 5.26% compared to RMB 0.19 in Q1 2023[11] - Total comprehensive income for the group increased to RMB 14,690 million in Q1 2024, up from RMB 13,106 million in Q1 2023, representing a growth of 12.1%[39] - The net profit attributable to shareholders for Q1 2024 was RMB 12.495 billion, a year-on-year increase of 0.33%[18] - The net interest income for Q1 2024 was RMB 24.192 billion, a decline of 11.72% year-on-year[18] - The net interest income for the group in Q1 2024 was RMB 24,192 million, a decrease of 11.1% compared to RMB 27,403 million in Q1 2023[37] - The bank's fee and commission income for Q1 2024 was RMB 6,180 million, down 22.9% from RMB 8,017 million in Q1 2023[37] Asset and Liability Management - The total assets of the bank reached RMB 6.90 trillion, with a net profit of RMB 124.95 billion reported[7] - The total assets as of March 31, 2024, reached RMB 6,897.53 billion, reflecting a growth of 1.84% from the end of 2023[18] - The bank's total assets reached RMB 6,897,528 million as of March 31, 2024, compared to RMB 6,772,796 million at the end of 2023, marking an increase of 1.85%[35] - The bank's total liabilities as of March 31, 2024, were RMB 6,897,528 million, which is an increase from RMB 6,772,796 million at the end of 2023, showing a growth of approximately 1.85%[32] - The bank's equity attributable to shareholders was RMB 144,000 million as of March 31, 2024, compared to RMB 140,000 million at the end of 2023, indicating an increase of about 2.86%[32] Loan and Deposit Growth - The balance of loans to technology enterprises reached RMB 3,310.13 billion, growing by 23.90% year-on-year[6] - The balance of inclusive loans was RMB 4,125.06 billion, up by 8.80% from the previous year[7] - The bank's loans and advances to customers reached RMB 3,828,594 million as of March 31, 2024, compared to RMB 3,712,925 million at the end of 2023, indicating an increase of about 3.12%[32] - The bank's total deposits from customers were RMB 5,000,000 million as of March 31, 2024, reflecting a stable growth trend in customer deposits[32] - Net increase in customer deposits reached RMB 26,660 million, compared to RMB 27,127 million in the same period last year[41] Risk and Compliance - The non-performing loan (NPL) balance increased to RMB 48.68 billion, with a non-performing loan ratio of 1.25%, unchanged from the previous year[19] - The capital adequacy ratio stood at 13.70% as of March 31, 2024, compared to 13.50% at the end of 2023[14] - The group's capital adequacy ratio stands at 13.70%, with a Tier 1 capital adequacy ratio of 11.54% and a core Tier 1 capital adequacy ratio of 9.38%, all meeting regulatory requirements[20] - The company is committed to risk compliance and maintaining stable asset quality across all business lines[22] Strategic Initiatives - The company is focusing on financial support for key national strategies, including the Belt and Road Initiative and the Greater Bay Area, enhancing services in technology finance, green finance, and rural revitalization[20] - The company is actively expanding its market presence through strategic initiatives in mergers and acquisitions, as well as product and technology development[20] - The company is advancing a digital retail banking model, emphasizing customer-centric strategies and expanding its service offerings in social security and pension finance[22] - The financial market business is enhancing investment and trading efficiency, with a focus on wealth management services and supporting innovation-driven enterprises[22] - The company is implementing a "thousand-person training program" for customer managers to improve operational capabilities in corporate finance[20] Operational Efficiency - Operating expenses for Q1 2024 were RMB 19.445 billion, a decrease of 14.55% compared to the same period last year[19] - The bank's credit impairment losses for Q1 2024 were RMB 10,060 million, a decrease of 21.5% from RMB 12,809 million in Q1 2023[37] - Cash inflow from operating activities totaled RMB 249,000 million, down from RMB 403,070 million in Q1 2023, indicating a decrease of 38.3%[41] - Cash outflow from operating activities was RMB 407,530 million, slightly lower than RMB 419,613 million in Q1 2023[42] - Net cash flow from investing activities was RMB 89,992 million, a significant improvement from a net outflow of RMB 67,557 million in Q1 2023[42]