Financial Performance - In 2022, the total revenue of China Cinda was RMB 80,988.4 million, a decrease of 17.1% compared to RMB 97,731.0 million in 2021[16]. - The profit attributable to shareholders of the company for the year was RMB 6,313.4 million, a decline of 47.5% from RMB 12,061.7 million in 2021[16]. - The pre-tax profit from continuing operations was RMB 10,457.6 million, a decrease of 46.0% compared to RMB 19,378.9 million in 2021[16]. - The net profit from continuing operations for the year was RMB 7,231.3 million, down 44.5% from RMB 13,000.5 million in 2021[16]. - The average return on equity decreased to 3.38% in 2022 from 7.15% in 2021[19]. - The cost-to-income ratio increased to 44.02% in 2022, compared to 32.15% in the previous year[19]. - The company achieved a net profit attributable to shareholders of 6.31 billion yuan in 2022, with an average return on equity of 3.38%[32]. - The total costs and expenses were RMB (79,466.6) million, a decrease of 5.0% from RMB (84,148.5) million in 2021[16]. - The impairment loss on assets was RMB (13,258.0) million, an increase from RMB (11,722.9) million in 2021[16]. Business Operations - The company’s core business focuses on non-performing asset management, which remains its primary revenue driver[2]. - The company maintained a leading position in the non-performing asset management sector, focusing on asset acquisition and disposal strategies[22]. - The company is actively participating in risk resolution pilot projects for small and medium-sized financial institutions, responding to national and regulatory concerns[22]. - The company aims to enhance its business layout in new energy and new economy sectors, aligning with national development strategies[23]. - The company is committed to supporting the delivery of 35,000 residential properties to ensure social and financial stability[23]. - The company is focused on building a competitive ecosystem centered around strategic clients and leveraging digital technology for enhanced risk management[24]. - The company has established a five-year plan for talent development, emphasizing the importance of human resources in maintaining competitive advantage[24]. Asset Management - As of the end of 2022, the total assets of the company reached RMB 1,615.99 billion, an increase from RMB 1,564.28 billion in 2021[17]. - The total liabilities of the company were RMB 1,407.99 billion, up from RMB 1,362.50 billion in 2021[17]. - The company acquired 74.2 billion yuan of operating non-performing loans in 2022, marking a 40.8% increase year-on-year, maintaining a leading position in the public market[33]. - The company participated in the resolution of non-performing assets totaling nearly 150 billion yuan for multiple financial institutions[33]. - The total amount of non-performing debt assets measured at amortized cost as of December 31, 2022, was RMB 107,988.7 million, a decrease of 25.3% from RMB 144,543.0 million on December 31, 2021[100]. - The net amount of non-performing loans was RMB 341,255.4 million, slightly up from RMB 340,200.6 million in 2021[113]. Risk Management - The company is committed to risk management and has outlined its strategies in the management discussion section of the report[12]. - The company is focused on enhancing risk management and asset quality, with a comprehensive risk management system in place[36]. - The company established a comprehensive risk management system covering seven major risk categories, including credit risk and market risk, and implemented a risk limit management plan[188]. - The company updated its recovery plan for 2022 to address extreme risk challenges, enhancing its systemic risk control mechanisms[189]. - The company improved its risk management tools and systems, launching a risk monitoring platform and developing a customer default probability prediction system[190]. - The company emphasized a proactive risk management approach, continuously optimizing risk monitoring and control policies to maintain asset quality[182]. Corporate Governance - The board of directors approved the 2022 annual report on March 28, 2023, with all 12 attending directors present[11]. - China Cinda's financial reports for 2022 were audited by Ernst & Young, receiving standard unqualified opinions[11]. - The company has strategic investors including the National Social Security Fund, UBS AG, and Standard Chartered Bank, enhancing its capital structure[2]. Market Position and Recognition - The company was awarded multiple accolades in 2022, including the "Most Investment Value High-Quality Development Listed Company" and "Best Operational Management Award" at the China Top 100 Enterprises Forum[3]. - The company aims to enhance its market presence and expand its financial services, leveraging its subsidiaries in various sectors[2]. Environmental and Social Responsibility - The company is actively expanding its green finance initiatives, including green funds and green bonds, to support environmental sustainability[27]. - The company is committed to serving the real economy and mitigating financial risks while adhering to the principles of sustainable development[31].
中国信达(01359) - 2022 - 年度财报