BANK OF XI'AN(600928)2024-08-29 11:08Financial Performance - The operating income for the first half of 2024 was CNY 3,621,843 thousand, representing a year-on-year increase of 5.77% compared to CNY 3,424,264 thousand in the same period of 2023[6]. - The net profit attributable to shareholders of the parent company for the first half of 2024 was CNY 1,336,859 thousand, a slight increase of 0.31% from CNY 1,332,751 thousand in the first half of 2023[6]. - Basic earnings per share for the first half of 2024 remained stable at CNY 0.30, unchanged from the same period in 2023[8]. - The bank's total comprehensive income for the six months ended June 30, 2024, was RMB 1,394,130 thousand, down from RMB 1,462,682 thousand in the same period of 2023, representing a decrease of approximately 4.67%[181]. - The bank's total equity as of June 30, 2024, was RMB 31,992,184 thousand, an increase from RMB 29,901,761 thousand as of June 30, 2023, representing a growth of about 7%[192]. Assets and Liabilities - The total assets as of June 30, 2024, reached CNY 445,262,317 thousand, reflecting a growth of 3.02% from CNY 432,201,362 thousand at the end of 2023[6]. - The total liabilities as of June 30, 2024, were CNY 413,190,863 thousand, an increase of 2.97% from CNY 401,275,149 thousand at the end of 2023[6]. - The total amount of loans and advances reached CNY 214.79 billion, a growth of 5.85% from the end of last year[58]. - The total deposits reached CNY 311,127,790 thousand, which is a 5.90% increase compared to CNY 293,786,396 thousand at the end of 2023[6]. Cash Flow - The net cash flow from operating activities for the first half of 2024 was CNY (4,028,955) thousand, a significant improvement of 386.37% compared to CNY (828,371) thousand in the first half of 2023[6]. - The total cash inflow from investment activities was RMB 22,152,642 thousand, down from RMB 31,155,306 thousand in the previous year, resulting in a net cash outflow of RMB 1,755,294 thousand for investment activities[187]. - The cash inflow from financing activities was RMB 47,344,947 thousand, while the cash outflow was RMB 45,165,330 thousand, leading to a net cash inflow of RMB 2,179,617 thousand, a decrease from RMB 6,898,465 thousand in the prior year[187]. Risk Management - The company has taken measures to effectively manage and control various operational risks, including credit risk and liquidity risk[1]. - The company has implemented a comprehensive credit risk management system to enhance asset quality and optimize credit structure[106]. - The company has strengthened liquidity risk management by optimizing liquidity reserve assets and conducting regular liquidity risk stress tests[108]. - The company has focused on enhancing data governance and technical support for credit risk management systems[107]. Loans and Advances - The company issued loans totaling 61.50 billion yuan to key enterprises and projects in the first half of 2024, with a 15.42% increase in total loans to 1,441.24 billion yuan compared to the beginning of the year[23]. - The non-performing loan ratio increased to 1.72%, up by 0.37 percentage points from 1.35% at the end of 2023[9]. - The loan loss provisions amounted to CNY 6,290,482, an increase of 16.84% from CNY 5,383,684 in the previous year[8]. Deposits - The company’s total deposits reached 1,287.77 billion yuan, reflecting a growth of 2.79% year-to-date[23]. - Time deposits reached CNY 227.290 billion, an increase of 9.76%, making up 73.05% of total deposits[71]. - Demand deposits were CNY 78.465 billion, a decrease of 2.37%, accounting for 25.22% of total deposits[71]. Corporate Governance - The company conducted one shareholders' meeting during the reporting period, approving 11 resolutions including the 2023 financial settlement report and the 2024 financial budget plan[120]. - The board of directors held 5 meetings, passing 37 resolutions related to financial budgets, profit distribution, and risk preferences, among others[122]. - The company has established a comprehensive corporate governance framework, ensuring compliance with relevant laws and regulations[119]. Strategic Initiatives - The company is actively pursuing differentiated and specialized operations to adapt to local economic conditions, as evidenced by the establishment of a specialized service team for inclusive finance[26]. - The company plans to continue expanding its market presence and enhancing its product offerings in the upcoming periods[39]. - The company has focused on supporting the real economy by increasing credit investments in key sectors such as manufacturing, technology, and green industries[129]. Shareholder Information - The company reported a total of 4,444,444,445 shares outstanding, with 75.99% being unrestricted shares[153]. - The top ten shareholders hold the following percentages: Canada’s Scotiabank 18.11%, Datang Xishi Cultural Industry Investment Group 14.27%, and Xi'an Investment Holding 13.91%[157]. - The company has not engaged in margin financing or securities lending activities among the top ten shareholders[158].