Zhong Guo Ji Jin Bao·2025-09-02 03:56Group 1: Annual Performance Outlook - The company believes it can achieve steady progress and meet the budget goals set at the beginning of the year, with a positive outlook for the second half of the year [6][4] - The first quarter faced significant pressure due to loan repricing starting January 1, leading to a decline in net interest margin, but the second quarter showed improvement [6][4] - The company plans to focus on strategic development, cost management, non-interest income growth, and asset quality control to maintain a positive trajectory [6][4] Group 2: Retail Business Strengths - The retail business is supported by three key factors: technological capabilities, a dedicated workforce, and a customer-centric value system [5][7] - Retail assets under management (AUM) reached 16.03 trillion yuan, with the highest growth in recent years, and retail wealth management income increased by 6% year-on-year [7][5] Group 3: Balancing Short-term and Long-term Goals - The company emphasizes that banking is a marathon, not a sprint, and must focus on long-term sustainability rather than short-term gains [11][12] - It aims to strengthen foundational aspects such as customer base, workforce, management, and business to ensure long-term success [11][12] Group 4: Changes in Customer Risk Preferences - There has been a shift in retail customers' risk preferences, with a gradual improvement in their willingness to engage in riskier investments [12][5] - The company aims to adapt to market trends and customer needs to provide a comprehensive wealth management experience [12][5] Group 5: Return on Equity (ROE) Management - The company's ROE is currently at 13.85%, significantly higher than the industry average of around 9%, and it aims to maintain this leading position [13][14] - Future ROE levels will depend on the recovery of profitability, net asset growth, and dividend policies [14][13] Group 6: Internationalization Strategy - The company is accelerating its internationalization efforts, recognizing it as a new growth point amid increasing global integration [15][16] - It has established a network of overseas branches and is enhancing the capabilities of its international operations [16][15]