Core Insights - The landscape of AI has shifted significantly in the past year, moving from a phase of experimentation to practical application in various sectors [1][2] - The capabilities of AI models have evolved rapidly, particularly in advanced reasoning, which has expanded their utility beyond just development to many other areas [2] - Confidence in using AI for daily work and mission-critical applications has increased, indicating that AI is now seen as a reliable tool rather than a novelty [3] Group 1 - The transition from using AI as a chat companion to a more integrated tool reflects a major change in its application [1] - The last six months have seen significant advancements in AI capabilities, particularly in reasoning, which has broadened its use [2] - AI is now considered essential in many roles within the company, indicating widespread adoption across departments [3]

Agricultural Bank of China (SEHK:01288) H2 2025 Earnings call March 30, 2026 04:00 AM ET Speaker0 Ladies and gentlemen, good afternoon. I'm the President of ABC. Welcome to the annual results announcement of ABC. It's a great pleasure to meet with the friends online, offline, investors and analysts, and friends from the media. I'd like to take this opportunity to express my appreciation for your support, trust, and interest in the development of ABC. With that, I'd like to present to you the management of A ...

Financial Data and Key Metrics Changes - Net operating income for 2025 was RMB 337.2 billion, an increase of 0.05% year-on-year [6] - Net profit attributable to shareholders was RMB 150.2 billion, up by 1.21% [6] - Return on Average Assets (ROAA) was 1.19%, and Return on Average Equity (ROAE) was 13.44%, down by 0.09 and 1.05 percentage points year-on-year respectively [6] - Net interest income reached RMB 215.6 billion, up by 2.04%, while Net Interest Margin (NIM) was 1.87%, down by 11 basis points year-on-year [6] - Non-interest income was RMB 21.7 billion, a decrease of 3.31% year-on-year [6] Business Line Data and Key Metrics Changes - Retail Finance contributed significantly, with net operating income and pre-tax profit accounting for 56% and 50% of the total respectively [8] - Total loans and advances were RMB 7.26 trillion, up by 5.37%, with general loans at RMB 6.94 trillion, up by 6.57% [7] - Retail loan balance was RMB 3.72 trillion, up by 2.07%, while corporate loan balance was RMB 3.22 trillion, up by 12.29% [18][19] - Wealth Management product balance grew by 12%, and the number of asset allocation clients reached 11.76 million, up by 13.31% [20] Market Data and Key Metrics Changes - Total customer deposits were RMB 9.84 trillion, up by 8.13%, with demand deposits daily average balance accounting for 49.4% [7] - The overseas contributions to total assets grew by 12.88%, with net operating income increasing by 33.78% [22][23] - The number of corporate customers in international business exceeded 100,000, with a volume growth of 12% [23] Company Strategy and Development Direction - The company aims to build a world-class value creation bank and accelerate transformation towards high-quality development [5] - Focus on digital and intelligent banking, with significant investments in AI and technology [10][12] - Emphasis on green finance and sustainable development, with green loans and leasing balances growing by 21% and 23.89% respectively [12] - Plans to enhance international development and support Chinese enterprises going global [30][33] Management's Comments on Operating Environment and Future Outlook - The management acknowledges challenges in the banking sector, including low interest rates and weak demand [30] - Despite external pressures, the company expects to maintain a good operational trend and aims for stable growth in 2026 [31][32] - The focus will be on high-quality development, innovation, and maintaining competitive advantages in various business segments [32][34] Other Important Information - The company has a strong capital position, with Core Tier 1 CAR at 14.16% [9] - Asset quality remains stable, with NPL balance at RMB 68.2 billion, up by RMB 2.6 billion [9][10] - The company has implemented over 800 applications of AI technology, significantly improving operational efficiency [11][48] Q&A Session Questions and Answers Question: What is the strategic vision for China Merchants Bank during the 15th Five-Year Plan? - The Chairman emphasized the need for high-quality development, innovation, and differentiation from peers to respond to market challenges [39][40] Question: How can the bank expect growth in operating income and profit in 2026? - The President noted that while facing challenges, the bank aims for stable growth and will focus on customer base and asset growth to achieve this [58][59] Question: What is the outlook for NIM in 2026? - The CFO indicated that while NIM is expected to decline, the magnitude of the decline will be smaller than in previous years, with improvements in asset pricing contributing to this [68][70]

Financial Data and Key Metrics Changes - Net operating income for 2025 was CNY 337.2 billion, up by 0.05% year-on-year [6] - Net profit attributable to shareholders was CNY 150.2 billion, up by 1.21% year-on-year [6] - Return on average assets (ROAA) was 1.19%, and return on average equity (ROAE) was 13.44%, down by 0.09 percentage points and 1.05 percentage points year-on-year respectively [6] - Net interest income was CNY 215.6 billion, up by 2.04%, while net interest margin (NIM) was 1.87%, down by 11 basis points year-on-year [6] - Non-interest income was CNY 21.7 billion, down by 3.31% year-on-year [6] Business Line Data and Key Metrics Changes - Total loans and advances reached CNY 7.26 trillion, up by 5.37%, with general loans at CNY 6.94 trillion, up by 6.57% [7] - Retail finance contributed significantly, with net operating income and pre-tax profit accounting for 56% and 50% of the total respectively [8] - Retail assets under management (AUM) balance was CNY 17 trillion, up by 14.44% [18] - Corporate loan balance was CNY 3.22 trillion, up by 12.29% [20] - Wealth management product balance grew by 12% [22] Market Data and Key Metrics Changes - Total customer deposits reached CNY 9.84 trillion, up by 8.13% [7] - Demand deposits daily average balance accounted for 49.4% [7] - Active credit card users surpassed 70 million, with a transaction value of CNY 4.08 trillion, down by 7.62% [19] Company Strategy and Development Direction - The company aims to build a world-class value creation bank and accelerate transformation towards high-quality development [5] - Focus on digital and intelligent banking, with significant investment in AI and IT [10][11] - Emphasis on green finance, with green loan and leasing balances growing by 21% and 23.89% respectively [12] - Strategic determination to maintain competitive edge in a low interest rate environment while enhancing asset quality [34][35] Management's Comments on Operating Environment and Future Outlook - The management acknowledges challenges in the banking sector, including low interest rates and weak demand [32] - Positive outlook for the Chinese economy, with expectations of more favorable conditions for commercial banks [33] - Commitment to high-quality development and innovation to respond to market challenges [32][34] Other Important Information - The company has a strong capital position, with Core Tier 1 CAR, Tier 1 CAR, and CAR at 14.16%, 16.51%, and 18.27% respectively [9] - Asset quality remains stable, with a non-performing loan (NPL) balance of CNY 68.2 billion [9] Q&A Session All Questions and Answers Question: What is the strategic vision for China Merchants Bank during the fifteenth Five-Year Plan? - The chairman emphasized the need for high-quality development, innovation, and differentiation from peers to respond to market challenges [42][44] Question: How does the company expect the growth rate of operating income and profit in 2026? - The president indicated that while facing challenges, the company aims for stable growth and improvement in customer base and asset growth [61][63] Question: What is the outlook for NIM in 2026? - The management expects NIM to continue declining but at a smaller magnitude, with improvements in asset pricing and structure contributing to this outlook [71][74]

Financial Data and Key Metrics Changes - Net operating income for 2025 was CNY 337.2 billion, an increase of 0.05% year-on-year [4] - Net profit attributable to shareholders was CNY 150.2 billion, up by 1.21% [4] - Return on Average Assets (ROAA) was 1.19%, and Return on Average Equity (ROAE) was 13.44%, down by 0.09 percentage points and 1.05 percentage points year-on-year respectively [4] - Net interest income reached CNY 215.6 billion, up by 2.04%, while Net Interest Margin (NIM) was 1.87%, down by 11 basis points year-on-year [4] - Non-interest income was CNY 21.7 billion, a decrease of 3.31% year-on-year [4] Business Line Data and Key Metrics Changes - Retail finance contributed significantly, with net operating income and pre-tax profit accounting for 56% and 50% of the total respectively [6] - Total loans and advances were CNY 7.26 trillion, up by 5.37%, with general loans at CNY 6.94 trillion, up by 6.57% [5] - Net fee and commission income increased by 4.39% year-on-year, marking the first positive growth since 2022 [5] - Retail AUM balance was CNY 17 trillion, up by 14.44%, with retail customer deposits totaling CNY 4.5 trillion, up by 11% [16] Market Data and Key Metrics Changes - The bank's total assets exceeded CNY 13 trillion, with total liabilities at CNY 11.79 trillion, up by 7.98% [5] - Demand deposits accounted for 49.4% of total deposits, maintaining a high level [6] - The number of retail customers increased to 224 million, up by 6.67% [13] Company Strategy and Development Direction - The company aims to build a world-class value creation bank and accelerate its transformation towards high-quality development [3] - Focus on digital and intelligent banking, with significant investments in AI and technology [10][11] - Emphasis on ESG principles, with green loans and leasing balances growing by 21% and 23.89% respectively [11] - Plans to enhance international development and support Chinese enterprises going global [21] Management's Comments on Operating Environment and Future Outlook - The management acknowledged challenges such as low interest rates and weak demand but expressed confidence in the resilience of the Chinese economy [30] - The bank will continue to focus on high-quality development and innovation to navigate the competitive landscape [31] - Expectations for stable growth in operating income and profit, with a focus on maintaining a leading NIM [56][67] Other Important Information - The bank's capital adequacy ratios (CAR) showed a decline, with Core Tier 1 CAR at 14.16%, down by 0.7 percentage points [7] - Asset quality remained stable, with a non-performing loan (NPL) balance of CNY 68.2 billion, up by CNY 2.6 billion [8] Q&A Session Questions and Answers Question: What is the strategic vision for China Merchants Bank during the fifteenth Five-Year Plan? - The board emphasizes high-quality development and innovation, focusing on being market-oriented and differentiated from peers [37][39] Question: How does the bank plan to maintain its competitive advantage in a challenging environment? - The bank aims to deepen reforms, accelerate internationalization, and enhance its customer-centric culture to maintain a low funding cost [41] Question: What are the expectations for operating income and profit growth in 2026? - The management anticipates stable growth, with efforts to achieve a 3%-5% growth rate, although challenges remain [56][59] Question: What is the outlook for NIM in 2026? - The bank expects NIM to continue declining but at a smaller magnitude compared to previous years, with ongoing efforts in asset and liability management [67]

Financial Data and Key Indicators Changes - In 2025, the net profit increased by 1.04% to CNY 339 billion, and operating income rose by 1.69% quarter-on-quarter [5][28] - Profit before provision increased by 1.7% year-on-year, with a net interest margin (NIM) of 1.34%, return on assets (ROA) at 0.79%, and return on equity (ROE) at 10.04% [5][6] - The capital adequacy ratio stood at 19.69%, and the cost-to-income ratio was 29.44%, with a net income ratio of 22.69% [6][7] Business Line Data and Key Indicators Changes - Total assets increased by 12% to CNY 45.363 trillion, with gross loans to customers rising by 7.47% to CNY 27.77 trillion [7][8] - Financial investments grew by 12.9% to CNY 12.9 trillion, while liabilities also increased by 12% to CNY 41.65 trillion [7][8] - Deposits rose by 7%, and the non-performing loan (NPL) ratio remained low at 1.31% [6][7] Market Data and Key Indicators Changes - Loans to key sectors under the Five Priorities showed double-digit growth, with technology loans exceeding CNY 5 trillion, up by 89% [9][45] - Green finance loans reached CNY 6 trillion, and inclusive finance loans stood at CNY 3.69 trillion, reflecting strong growth in these areas [9][45] - The bank's digital finance segment saw significant growth, with mobile banking users reaching 546 million and digital economy loans growing by 18.7% to CNY 891 billion [10][9] Company Strategy and Development Direction - The company aims to consolidate and expand traditional strengths while tapping into potential for high-quality development, focusing on the Five Priorities [18][19] - Plans for 2026 include supporting national strategies, enhancing consumer financial services, and expanding financial services for infrastructure projects [19][20] - The company is committed to integrating commercial and retail banking, enhancing service capabilities, and optimizing customer service models [20][21] Management's Comments on Operating Environment and Future Outlook - Management highlighted the importance of maintaining a strong focus on risk management and adapting to the evolving economic landscape [22][23] - The outlook for 2026 includes a commitment to high-quality development and a proactive approach to risk management, particularly in retail loans [77][78] - The company is confident in its ability to achieve long-term sustainable performance while supporting the real economy [36][37] Other Important Information - The provision coverage ratio is 233.15%, indicating strong risk management capabilities [6][35] - The company has advanced its AI capabilities, integrating AI technology across various business segments to enhance operational efficiency [82][86] Q&A Session Summary Question: What are the core drivers behind the good performance in 2025? - Management attributed success to stable NIM structure, comprehensive services, cost management, and effective risk control measures [30][34][35] Question: What is the new arrangement for loan disbursement compared with 2024? - The company plans to enhance capacity to support the real economy, focusing on residential and retail consumption loans while maintaining competitiveness [43][44] Question: What measures have been adopted in terms of risk management? - The company emphasized a focus on high-quality development, enhancing risk management systems, and maintaining a low NPL ratio through proactive measures [75][78] Question: What are the key initiatives regarding AI technology? - The company is implementing AI across all business segments, improving foundational capabilities, and enhancing customer service through smart applications [82][86]

Financial Data and Key Indicators Changes - In 2025, the company reported a net profit increase of 1.04% to RMB 339 billion, with operating income rising by 1.69% quarter-on-quarter [5][6] - The net interest margin (NIM) stood at 1.34%, return on assets (ROA) at 0.79%, return on equity (ROE) at 10.04%, and capital adequacy ratio at 19.69% [5][6] - The non-performing loan (NPL) ratio was reported at 1.31%, with a provision coverage ratio of 233.15% [6][7] Business Line Data and Key Indicators Changes - Total assets increased by 12% to RMB 45.363 trillion, while gross loans to customers rose by 7.47% to RMB 27.77 trillion [7] - Financial investments grew by 12.9% to RMB 12.9 trillion, and deposits increased by 7% [7] - Technology finance loans exceeded RMB 5 trillion, with green finance loans reaching RMB 6 trillion, marking a 20.54% increase [9][10] Market Data and Key Indicators Changes - The company reported a significant increase in loans to key sectors, with double-digit growth in technology, green finance, and inclusive finance [9][42] - Loans in key regions such as Beijing, Tianjin, Hebei, and the Greater Bay Area maintained steady growth, outperforming the bank-wide average [11][43] - The retail finance sector showed strong competitiveness, with domestic loans exceeding RMB 9 trillion, accounting for 32% of total loans [43] Company Strategy and Development Direction - The company aims to support the national strategy and enhance its role as a leading financial institution in China, focusing on the Five Priorities of finance business [18][19] - Plans for 2026 include expanding financial services for infrastructure projects and enhancing financial services based on local conditions [19][20] - The company is committed to high-quality development, integrating commercial and retail banking, and enhancing customer service capabilities [20][21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in maintaining steady growth and improving asset quality, emphasizing the importance of risk management [72][73] - The company plans to adapt to macroeconomic changes and enhance its risk control measures, particularly in retail loans [72][73] - The outlook for NIM in 2026 is cautiously optimistic, with expectations of a slower decline due to improved asset-liability management [49][54] Other Important Information - The company dispatched a total dividend of RMB 106 billion, with an interim dividend of RMB 1.858 per 10 shares and a final dividend of RMB 2 per 10 shares [8] - The company has made significant advancements in digital finance, with mobile banking users reaching 546 million and digital economy loans growing by 18.7% to RMB 891 billion [10] Q&A Session All Questions and Answers Question: What are the core drivers behind the good performance in 2025? - Management attributed the success to stable NIM structure, comprehensive services, cost management, and enhanced risk management capabilities [26][27][30][31] Question: What is the new arrangement in terms of regional disbursement and sectors for 2026? - The company plans to support modern industrial clusters, enhance competitiveness in the real estate sector, and focus on consumer financing [40][45][46] Question: Can you introduce the NIM influences in terms of supply and demand sides? - The NIM narrowed by two basis points in 2025, influenced by savings deposit repricing and proactive management strategies [49][50][54] Question: What are the key initiatives that CCB has with respect to AI technology? - The company is implementing AI across all business segments, enhancing computational power, and improving service efficiency through smart applications [76][80]

Financial Data and Key Indicators Changes - By the end of 2025, total assets exceeded RMB 53 trillion, with customer loans surpassing RMB 30 trillion, up RMB 2.13 trillion year-over-year [3] - Operating income rose 1.9% year-over-year to RMB 800 billion, while net profit reached RMB 370 billion, up 1% year-over-year [4] - The non-performing loan (NPL) ratio stood at 1.31%, down 3 basis points year-over-year, with a provision coverage ratio of 213.6% [7][13] Business Line Data and Key Indicators Changes - Customer loans, bond investments, and deposits grew by 7.5%, 19.6%, and 7.1% year-over-year respectively [5] - Corporate loans rose by 7.8% year-over-year, with personal business loans increasing by 15% [5] - Green loans reached RMB 6.7 trillion, ranking number one in the industry, while inclusive loans totaled RMB 3.6 trillion, with a growth rate of 22.8% [6] Market Data and Key Indicators Changes - Cross-border RMB settlements grew 8% year-over-year to RMB 6.3 trillion, with RMB global payment services expanding to 44 countries and regions, up 23% year-over-year [9] - The international assets of ICBC reached RMB 491.6 billion, up 12.4% year-over-year, outpacing the group average of 9.5% [35] Company Strategy and Development Direction - ICBC aims to deepen its five transformations, balancing progress with stability to deliver sustainable value for global shareholders [10] - The bank plans to enhance its financial services, focusing on technology-driven solutions and integrating comprehensive financial services across client lifecycles [17][19] - ICBC is committed to supporting the internationalization of RMB and expanding its global clearing network [8][19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving good results in 2026, emphasizing the importance of adapting to market changes and maintaining high-quality risk control [20] - The bank's strategic focus will include enhancing digital capabilities and leveraging technology to improve operational efficiency and customer service [40][46] - Management highlighted the importance of balancing credit business with financial services to achieve long-term growth [16][17] Other Important Information - ICBC plans a total cash dividend of RMB 110.6 billion for 2025, with an interim dividend of RMB 50 billion and a final dividend of RMB 60 billion [4] - The bank's A-share and H-share dividend yields reached 4.22% and 5.99% respectively, demonstrating effective market value management [5] Q&A Session Summary Question: Did ICBC achieve fundamental shifts in performance? What were the standout achievements for 2026? - Management noted that 2025 marked a successful culmination of the 14th Five-Year Plan, with structural optimization and renewed growth drivers [11] Question: Can you provide an overview of the overall situation with asset quality? - Management confirmed that the NPL ratio improved to 1.31%, with proactive risk management ensuring overall controllability [21][22] Question: What are the current pricing trends for corporate and retail loans? How do you project NIM trajectory in 2026? - Management projected that NIM will continue to decline but at a moderated pace, with early signs of stabilization in loan pricing [31][32] Question: Has ICBC upgraded its strategy in the fintech sector? What were the key achievements in AI application in 2025? - Management confirmed the upgrade to Smart ICBC, focusing on AI applications across various business scenarios, achieving significant operational efficiencies [39][40] Question: What are ICBC's capital replenishment plans for 2026? Will dividend policies evolve? - Management emphasized the importance of capital management and indicated a commitment to maintaining a high dividend payout ratio while balancing strategic growth [47][48]

Financial Data and Key Metrics Changes - In 2025, the company achieved revenues of RMB 131 billion, a decrease of 10.4% year-on-year, and a net profit of RMB 42 billion, down by 4.2% [8][31] - Total assets grew by 2.7% from the prior year, with corporate loan balances increasing by 3.5% year-to-date [9][30] - The full year NIM stood at 1.78%, which has essentially stabilized, while the general deposit cost was reduced to 1.65, a decline of 42 basis points [10][32] Business Line Data and Key Metrics Changes - Retail credit products saw a gradual increase in volume, with retail loan balances stabilizing, while credit card loans decreased by 6.8% [17][33] - Corporate general loans grew by 9.2%, and the wealth management fee income increased by 50.8% [17][34] - The NPL ratio improved to 1.05%, down by one basis point from the prior year, with a provision coverage ratio of 221% [10][32] Market Data and Key Metrics Changes - The banking sector is characterized by low interest rates and compressed NIM, with institutions facing challenges such as insufficient effective credit demand [7][8] - The company has been proactive in seizing opportunities and driving reform and innovation to adapt to the new economic landscape [7][8] Company Strategy and Development Direction - The company is focusing on strategic reform and transformation, aiming to return to growth in 2026 by optimizing asset structures and enhancing granular management capabilities [9][18] - The strategic execution includes reducing high-risk assets, improving customer management, and leveraging technology for business transformation [13][17] - The company plans to deepen its retail and corporate banking strategies, focusing on customer-specific solutions and enhancing digital finance capabilities [20][22] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the complex external environment and emphasized the resilience of China's economy despite challenges [6][7] - The company is confident in returning to growth in 2026, supported by improved operational metrics and a focus on high-quality development [18][48] - Management highlighted the importance of maintaining a strong dialogue with regulators and enhancing investor relations to build market confidence [54][56] Other Important Information - The company plans to maintain a reasonable dividend payout ratio while striving for improvement compared to the previous year [25] - The focus on party building and compliance culture is seen as essential for guiding business development [19][55] Q&A Session Questions and Answers Question: What phase of reform has Ping An Bank entered, and what are the key areas of focus for the next phase? - Management indicated that they believe they have achieved over 70% of their reform goals and are entering a deeper phase of transformation, with a focus on digesting legacy issues and forming new momentum for the future [44][46] Question: How will Ping An Bank return to growth, and what specific measures will be taken? - Management outlined that the return to growth will be supported by improved asset structures, continued cost reduction, and a focus on corporate business growth, with specific strategies to enhance customer operations and product offerings [66][69] Question: What priorities does Ping An Bank have for its corporate business in light of international volatility? - Management emphasized the importance of industry-specific and client-specific strategies, with a focus on providing tailored solutions to corporate clients and enhancing operational efficiency [73][75]

Financial Performance and Key Metrics Changes - In 2025, the company reported revenues of RMB 131 billion, a decrease of 10.4% year-on-year, and a net profit of RMB 42 billion, down by 4.2% [6][27] - Total assets grew by 2.7% from the prior year, with corporate loan balances increasing by 3.5% year-to-date [8][26] - The full year net interest margin (NIM) stood at 1.78%, which has stabilized, while the general deposit cost was reduced to 1.65%, a decline of 42 basis points [9][28] Business Line Data and Key Metrics Changes - Retail loan balances stabilized with a reduction of 2.3% compared to the beginning of the year, while credit card loans decreased by 6.8% and operating loans by 5.2% [30] - Corporate loans grew by 9.2%, and the wealth management fee income increased by 50.8%, with bank insurance income growing by 53.3% [31][32] - The asset quality improved, with the non-performing loan (NPL) ratio at 1.05%, down by one basis point from the prior year, and the provision coverage ratio at 221% [9][29] Market Data and Key Metrics Changes - The banking sector is characterized by low interest rates and compressed NIM, with institutions facing challenges such as insufficient effective credit demand and narrowing profitability margins [5] - The company has been proactive in seizing opportunities and driving reform and innovation to adapt to the new economic landscape [5][10] Company Strategy and Development Direction - The company is focusing on a strategic reform agenda, emphasizing party building as a guiding force for business development and aiming for a return to growth in 2026 [10][18] - Plans include enhancing product offerings, optimizing asset-liability management, and leveraging technology to improve operational efficiency [22][36] - The company aims to deepen its retail and corporate banking strategies, focusing on customer-specific solutions and industry-specific approaches [20][66] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges faced in 2025 but expressed confidence in returning to growth in 2026, citing improvements in operational metrics and asset quality [41][46] - The company is committed to maintaining a strong dialogue with regulators and enhancing investor relations to build market confidence [49][50] Other Important Information - The company has made significant progress in reducing high-risk assets and optimizing its funding structure, which has positively impacted its risk management and overall performance [11][64] - The focus on technology-driven capabilities and digital finance development is expected to enhance customer service and operational efficiency [22][56] Q&A Session Summary Question: What phase of reform has Ping An Bank entered, and what are the key areas of focus for the next phase? - Management indicated that they believe they have achieved over 70% of their reform goals and are focusing on digesting legacy issues while forming new momentum for the future [40][42] Question: How will Ping An Bank return to growth in 2026? - Management highlighted that the return to growth will be supported by improved asset quality, reduced high-risk assets, and a focus on operational efficiency and cost reduction [61][64] Question: What priorities does Ping An Bank have for its corporate business in light of international volatility? - The company plans to continue refining its corporate business strategy, focusing on industry-specific and customer-specific solutions while maintaining healthy growth [66][68]