BANK OF CHANGSHA(601577)2024-08-29 11:47Rankings and Awards - Bank of Changsha ranked 196th in the 2024 Banker’s Global 1000 Banks list[13] - Bank of Changsha ranked 165th in the 2024 Banker’s Global Brand Value 500 list[13] - The bank received the "Annual Market Influence Institution" and "Market Innovation Business Institution" awards in the 2023 interbank market evaluation[13] - The bank's data center won the 2023 Annual Technology Innovation Project and Talent Award from NIISA[13] - The bank's "Three Lions Project and Backup Cadre Training" was recognized as a "Brand Learning Project" in the 2023 Corporate Training Industry Awards[13] - The bank was awarded the "Foresight in Wealth Management" and "Wealth Management Wind and Cloud Award" in the second "Joint Intelligence Evaluation - Bank Wealth Management Golden Toad Award" selection[13] - The bank received the "Top Ten New Wealth Management Award" in the seventh Retail Banking Selection[13] Financial Performance - The company's total assets reached RMB 1,096.92 billion, an increase of 7.54% compared to the end of the previous year[15] - The total amount of loans and advances issued was RMB 533.59 billion, reflecting a growth of 9.25% year-on-year[15] - The total amount of deposits received was RMB 682.56 billion, which is a 3.60% increase from the previous year[15] - Operating revenue for the first half of 2024 was RMB 13.04 billion, representing a year-on-year growth of 3.32%[20] - The net profit attributable to shareholders of the parent company was RMB 4.12 billion, up 4.01% from the same period last year[20] - Basic earnings per share for the first half of 2024 were RMB 1.02, a 3.03% increase from the same period last year[14] - The weighted average return on equity was 6.62%, a decrease of 0.42 percentage points from the previous year[14] - The capital adequacy ratio was 13.06%, slightly up from 13.04% at the end of the previous year[19] Loan and Deposit Growth - County deposits reached CNY 215.103 billion, an increase of CNY 10.529 billion, growing by 5.15% year-over-year[21] - County loans amounted to CNY 193.948 billion, up CNY 24.247 billion, reflecting a growth of 14.29% year-over-year[21] - Retail customer assets under management (AUM) reached CNY 427.692 billion, an increase of CNY 27.515 billion, growing by 6.88% year-over-year[23] - Corporate loan balance stood at CNY 339.877 billion, increasing by CNY 49.506 billion, a growth of 17.05% year-over-year[25] - Green finance loan balance reached CNY 51.806 billion, an increase of CNY 8.903 billion, growing by 20.75% year-over-year[25] - Inclusive small and micro enterprise loan balance was CNY 63.617 billion, up CNY 5.359 billion, reflecting a growth of 9.20% year-over-year[26] Risk Management - The bank has effectively managed various operational risks, including credit, operational, market, liquidity, compliance, reputation, and information technology risks[2] - The bank's risk management framework was enhanced, focusing on key areas and implementing a differentiated risk control system for retail customers[29] - The bank's public credit business is undergoing digital transformation, aiming to improve asset quality and operational management[30] - The bank has established a comprehensive liquidity risk management structure, ensuring that liquidity coverage ratio is 278.77% as of June 30, 2024, significantly above regulatory requirements[120] - The bank has implemented a refined credit risk management strategy, enhancing internal ratings for non-retail clients to improve risk assessment capabilities[113] Digital Transformation and Technology - The bank's digital operating platform was upgraded to version 7.0, integrating with the Hongmeng ecosystem and launching a new app[30] - The bank's technology innovation R&D demand includes over 18% AI integration, with more than 20 applications implemented, saving a total of 90,000 working hours[144] - The bank has signed a strategic cooperation agreement with Huawei to develop a HarmonyOS version of its personal e-wallet app[143] Consumer Protection and Community Engagement - The bank received 463 consumer complaints during the reporting period, with 74.4% related to credit card and loan issues[171] - The bank completed 256 consumer protection reviews, integrating consumer protection concepts into product and service design[171] - The bank organized 42 consumer protection training sessions, covering over 1,400 employees[171] - The bank implemented公益项目 benefiting nearly 10,000 people, including irrigation projects and vocational education initiatives[169] - A total of 695 volunteer service events were conducted, with over 4,042 participants contributing more than 11,954 hours of service[170] Governance and Shareholder Structure - The bank's governance structure includes a board of 9 members, with 4 independent directors, and has held 6 board meetings during the reporting period[155] - The bank's board of directors saw changes, with the election of Long Guiyuan as a new director and the resignation of several key personnel, including the former president Tang Liyong[159] - The bank's total number of ordinary shareholders is 33,233 as of the end of the reporting period[184] - The largest shareholder, Hunan Provincial Communications Industry Service Limited Company, holds 676.4137 million shares, accounting for 16.82% of the total shares[185] - The bank has not experienced any significant changes in its share capital structure during the reporting period[184] Environmental and Social Responsibility - The bank is committed to becoming a zero-carbon bank and has implemented various measures to promote green operations and reduce carbon emissions[164] - The bank's green business projects are focused on clean energy, energy conservation, new energy vehicles, green buildings, and ecological restoration[163] - The bank has prioritized financial support for rural revitalization, focusing on projects such as seed industry, smart agricultural machinery, and agricultural product logistics[166] Financial Investments and Subsidiaries - The total investment in subsidiaries as of June 30, 2024, is RMB 1,028,712,000, an increase from RMB 957,906,000 as of December 31, 2023, representing a growth of approximately 7.4%[126] - The bank's total financial investments reached RMB 450.87 billion, a 6.60% increase from the previous year[66]