Dividends and Shareholder Information - China Construction Bank reported a cash dividend of RMB 0.389 per share for A-shares, totaling approximately RMB 3.732 billion, and for H-shares, totaling approximately RMB 9.352 billion[2]. - The bank did not declare an interim dividend for 2023 and will not conduct a capital reserve transfer to increase share capital[2]. - The company distributed a cash dividend of RMB 0.389 per share, totaling approximately RMB 97.25 billion for the 2022 fiscal year[183]. - As of June 30, 2023, the total number of ordinary shareholders is 334,786, with 295,799 A-share shareholders and 38,987 H-share shareholders[194]. - The total number of ordinary shares is 250,010,977,486, with 9,593,657,606 A-shares (3.84%) and 95,231,418,499 H-shares (38.09%)[193]. - The largest shareholder, Huijin Company, holds 57.03% of H-shares (142,590,494,651 shares) and 0.08% of A-shares (195,941,976 shares)[195]. - The top 10 shareholders collectively hold significant stakes, with Huijin Company and Hong Kong Central Clearing Limited being the most prominent[195]. - No changes occurred in the controlling shareholder or actual controller during the reporting period[197]. - The shareholding of directors and supervisors remained unchanged, with specific holdings disclosed for individuals[199]. - The report indicates that all shares held by major shareholders are unrestricted shares[196]. - The total number of H-shares held by the National Grid is 1,611,413,730, while Yangtze Power and Baowu Steel Group hold 648,993,000 and 335,000,000 H-shares, respectively[195]. - The report highlights that Huijin Company directly holds 692,581,776 A-shares, representing 7.22% of the issued A-shares[198]. - The report confirms that there are no pledges, markings, or freezing conditions on the shares held by the major shareholders, except for those under Hong Kong Central Clearing Limited[196]. - The total number of preferred shareholders at the end of the reporting period is 25, all of whom are domestic preferred shareholders[200]. - The largest preferred shareholder, Huabao Trust Co., Ltd., holds 14.36% of the shares, totaling 86,140,000 shares[200]. Financial Performance - Operating income for the six months ended June 30, 2023, was RMB 388,155 million, a decrease of 0.44% compared to RMB 389,877 million for the same period in 2022[7]. - Net interest income decreased by 1.73% to RMB 312,185 million from RMB 317,669 million year-on-year[7]. - Net profit for the period increased by 3.12% to RMB 167,295 million, compared to RMB 162,234 million in the previous year[7]. - The net profit attributable to shareholders was RMB 167,344 million, reflecting a growth of 3.36% from RMB 161,899 million in the prior year[7]. - Basic and diluted earnings per share rose to RMB 0.67, up 3.08% from RMB 0.65 in the same period last year[7]. - The annualized return on average assets decreased to 0.92% from 1.01% year-on-year[7]. - The annualized weighted average return on equity was 11.95%, down from 12.62% in the previous year[7]. - The net interest margin decreased to 1.60% from 1.90% year-on-year[7]. - The cost-to-income ratio increased to 23.72% from 23.18% in the previous year[7]. - Credit impairment losses decreased by 7.63% to RMB 95,414 million compared to RMB 103,294 million in the same period last year[7]. - The group achieved a pre-tax profit of RMB 197.26 billion, an increase of 2.27% compared to the same period last year[12]. - Net profit reached RMB 167.30 billion, reflecting a growth of 3.12% year-on-year[12]. - Non-interest income increased to RMB 75.97 billion, up by 5.21% year-on-year, with net fee and commission income rising by 0.50%[13]. - Operating expenses grew by 2.07% year-on-year, totaling RMB 95.99 billion, maintaining a cost-to-income ratio of 23.72%[12]. - The total operating income for the first half was RMB 388.155 billion, slightly down from RMB 389.877 billion in the same period last year[32]. Risk Management - The bank faces various risks including credit risk, market risk, operational risk, liquidity risk, reputation risk, country risk, information technology risk, and strategic risk, and is actively managing these risks[2]. - The bank's management emphasizes the importance of understanding the difference between plans, forecasts, and commitments in their forward-looking statements[2]. - The bank's financial performance and business development are subject to ongoing reviews and analyses, with a focus on risk management strategies[2]. - The bank is advancing its risk management framework, focusing on the implementation of Basel III standards and enhancing integrated risk control mechanisms[129]. - The company has implemented a unified credit risk management policy, enhancing risk monitoring and management capabilities through big data tools and intelligent platforms[130]. - The company has optimized its credit approval management mechanism, improving decision-making professionalism and authority through the introduction of dedicated loan approval personnel[130]. - The company has strengthened asset preservation operations, focusing on effective management and timely disposal of non-performing assets to support strategic advancement and structural adjustment[130]. - The company is enhancing its reputation risk management system, focusing on source management and monitoring potential public sentiment[158]. - The company is actively developing intelligent country risk management tools and conducting country risk assessments to optimize its management system[159]. - The company is implementing a comprehensive model risk management mechanism, emphasizing the management of external models and enhancing online management of model life cycles[162][163]. - The company is strengthening its anti-money laundering management framework and enhancing its risk assessment system[163]. - The company is improving its internal audit mechanisms to cover various business sectors, promoting risk control and operational improvement[165]. Asset and Liability Management - As of June 30, 2023, total assets reached RMB 38,254.71 million, an increase of 10.56% compared to December 31, 2022[8]. - Total liabilities were RMB 35,298.48 million, up 11.27% from the previous period[8]. - Customer deposits increased to RMB 27,628.47 million, marking a 10.42% rise[8]. - The capital adequacy ratio was reported at 17.40%, ensuring sufficient risk absorption capacity[11]. - The bank's core tier 1 capital adequacy ratio was 12.75%, reflecting a stable capital position[8]. - The leverage ratio stands at 7.30% as of June 30, 2023, exceeding the regulatory minimum of 4%[172]. - The total amount of loans and advances issued was RMB 23,078,117 million, with a non-performing loan (NPL) balance of RMB 316,636 million, resulting in an NPL ratio of 1.37%[132]. - The total amount of normal loans was RMB 22,184,703 million, accounting for 96.13% of total loans, while the amount of loans under special attention was 576,778 million, representing 2.50%[131]. - The company reported an increase in NPL balance by RMB 238.11 million compared to the end of the previous year, while the NPL ratio decreased by 0.01 percentage points[132]. - The company’s corporate loans and advances amounted to RMB 12,984,030 million, with an NPL amount of RMB 243,532 million, resulting in an NPL ratio of 1.88%[132]. - The company’s overseas and subsidiary loans totaled RMB 886,944 million, with an NPL amount of RMB 21,956 million, leading to an NPL ratio of 2.48%[132]. - The total amount of loans and advances issued was CNY 23.13 trillion, up from CNY 21.20 trillion at the end of the previous year, indicating a growth of 9.09%[38]. - The total amount of corporate loans and advances reached RMB 12.984 trillion, an increase of RMB 1.964 trillion or 17.82% from the end of last year, with significant new loans directed towards infrastructure and manufacturing sectors[36]. Operational Efficiency and Digital Transformation - The group achieved over 98% of transaction volume through online channels[118]. - The average daily savings in work hours due to intelligent operations amounted to 24,000 hours, equivalent to releasing 3,000 person-days of workload[122]. - The personal mobile banking user base reached 450 million, an increase of 5.27% year-on-year, with peak monthly active users surpassing 138 million[124]. - The "Construction Bank Life" platform registered a total of 113 million users, with daily active users at 3 million and over 360,000 online merchant stores[125]. - The bank's customer service platform served 234 million customers in the first half of the year, achieving a customer satisfaction rate of 98.89%[128]. - The company has launched various scoring cards, including personal operating mortgage quick loan scoring card and small micro-innovation scoring card, to enhance retail business support capabilities[130]. - The company has launched 162 public services in AI, security, and basic technology, supporting 962 application scenarios[67]. - The company achieved a 60% synchronization rate for new mobile banking customers' digital RMB wallets as of June[67]. - The company has issued 1,469 standardized API data services, with over 18,000 customized data reports published[67]. - The group has developed a digital risk control system for agricultural finance, enhancing loan risk management capabilities[63]. - The group has launched a cloud platform and developed AI capabilities in five key areas, enhancing customer service and operational efficiency[65]. Corporate Governance and Management Changes - The board of directors consists of 14 members, all of whom attended the meeting to approve the half-year report[2]. - The board of directors achieved a 100% attendance rate during the annual general meeting held on June 29, 2023[176]. - The company has appointed new independent non-executive directors, pending regulatory approval, to enhance governance[178]. - The company has made changes in senior management, including the appointment of a new vice president and the departure of the chief risk officer due to age reasons[178]. - The company has adopted the Hong Kong Stock Exchange's guidelines for securities trading by directors and supervisors, ensuring compliance during the reporting period[179]. Social Responsibility and Community Engagement - In the first half of the year, the company invested RMB 580 million in poverty alleviation efforts and RMB 709 million in repayable assistance funds[185]. - The "Shanrong Commerce" initiative helped sell agricultural products worth RMB 267 million from poverty-stricken areas in the first half of the year[185]. - The company has established 2,342 "Yunong Study Halls" to promote financial knowledge and rural development, benefiting 4.42 million people[185]. - The bank completed 84,100 consumer protection reviews in the first half of 2023[187]. - The bank's consumer rights protection initiatives reached over 780 million people during the "3·15" Consumer Rights Protection Education Week[187]. - The bank's digital financial education platform recorded over 330 million user visits[187]. - The bank is focused on enhancing its green operations through various initiatives, including energy-saving measures and environmental activities[185]. International Operations and Subsidiaries - China Construction Bank (London) reported total assets of 3.85 billion RMB and a net loss of 0.36 million RMB for the first half of the year[94]. - China Construction Bank (Russia) achieved total assets of 4.20 billion RMB and a net profit of 0.26 million RMB in the first half of the year[95]. - China Construction Bank (Europe) recorded total assets of 27.50 billion RMB and a net profit of 0.55 million RMB for the first half of the year[96]. - China Construction Bank (New Zealand) reported total assets of 10.29 billion RMB and a net profit of 0.54 million RMB in the first half of the year[98]. - China Construction Bank (Brazil) had total assets of 34.99 billion RMB with a net loss of 0.13 million RMB for the first half of the year[98]. - China Construction Bank (Malaysia) reported total assets of 8.79 billion RMB and a net profit of 0.26 million RMB in the first half of the year[99]. - China Construction Bank (Indonesia) achieved total assets of 11.82 billion RMB and a net profit of 0.56 million RMB for the first half of the year[100]. - The comprehensive subsidiaries of China Construction Bank reported total assets of 818.82 billion RMB and a net profit of 4.44 billion RMB in the first half of the year[101]. - China Construction Bank Financial Leasing had total assets of 155.28 billion RMB and a net profit of 0.67 billion RMB for the first half of the year[102]. - China Construction Bank Investment reported total assets of 131.92 billion RMB and a net profit of 2.00 billion RMB in the first half of the year[104].
建设银行(00939) - 2023 - 中期业绩