BANK OF QINGDAO(002948)2024-03-28 16:00Profit Distribution and Financial Performance - The profit distribution plan proposes a cash dividend of RMB 1.60 per 10 shares for all ordinary shareholders, subject to approval at the shareholders' meeting[2]. - Net interest income for 2023 reached RMB 9,281,969 thousand, an increase of 11.99% compared to RMB 8,288,314 thousand in 2022[15]. - Total operating income was RMB 12,472,276 thousand, reflecting a growth of 7.11% from RMB 11,644,007 thousand in the previous year[15]. - Net profit for 2023 was RMB 3,671,420 thousand, representing a 15.91% increase from RMB 3,167,525 thousand in 2022[15]. - The basic earnings per share for 2023 was RMB 0.57, a 26.67% increase from RMB 0.45 in 2022[16]. - The total equity attributable to shareholders of the parent company increased by 9.07% to RMB 39,063,939 thousand from RMB 35,816,312 thousand in 2022[17]. - The company's net profit for the year was supported by a robust growth in core business, despite a slight decline in capital adequacy ratios[126]. Risk Management and Compliance - The company emphasizes the importance of risk management and has detailed its risk management strategies in the "Management Discussion and Analysis" section[4]. - The board of directors and senior management confirm the accuracy and completeness of the annual report, taking legal responsibility for any misstatements or omissions[2]. - The company continues to enhance its risk management strategies to ensure the quality of its loan portfolio amid market fluctuations[106]. - The company has established a comprehensive market risk management system, including sensitivity analysis and stress testing, to monitor interest rate risks effectively[188]. - The market risk management framework includes clear responsibilities and reporting requirements for the board and senior management[186]. Asset and Loan Growth - The total assets as of December 31, 2023, amounted to RMB 607,985,372 thousand, a 14.80% increase from RMB 529,613,992 thousand in 2022[16]. - Customer loans totaled RMB 300,089,541 thousand, up 11.55% from RMB 269,029,452 thousand in 2022[16]. - The company's total loan balance for 2023 was RMB 281.17 billion, with interest income of RMB 13.63 billion, resulting in an average yield of 4.85%[53]. - Corporate loans reached CNY 201.56 billion, up CNY 28.42 billion, or 16.41%, accounting for 67.17% of total customer loans[78]. - Personal loans amounted to CNY 79.08 billion, an increase of CNY 5.70 billion, or 7.77%, representing 26.35% of total customer loans[79]. Digital Transformation and Innovation - The bank launched a new "Inclusive e-loan" product and upgraded its digital risk control system[26]. - A total of 78 digital transformation projects were successfully launched in 2023, a 44.44% increase from the previous year[28]. - The digital transformation strategy is in the "growth phase," focusing on data mining and application to enhance retail business capabilities[154]. - The bank's technology investment amounted to CNY 568 million, a 12.92% increase, accounting for 4.55% of total operating income[174]. - The bank's focus on financial technology innovation led to the successful application of big data and AI, improving operational efficiency and risk control accuracy[176]. Green Finance and Social Responsibility - The company has a commitment to green credit, focusing on loans for energy-saving and environmental protection projects[6]. - The bank's focus on green finance has been recognized with the Paulson Prize for sustainability[26]. - Green loan balance stood at 26.135 billion CNY, marking a growth of 24.90%[28]. - The company has focused on expanding its loan offerings to support green financing and high-tech manufacturing sectors[78]. Customer Growth and Satisfaction - The number of retail customers reached 8.9446 million, an increase of 16.02% year-over-year[153]. - The bank's customer satisfaction net promoter score improved to 80.49%, an increase of 3.79 percentage points year-over-year[158]. - The number of company clients increased to 245,500, a growth of 38,600 clients, or 18.66%[161]. Future Outlook and Strategic Focus - In 2024, the company anticipates continued economic recovery in China, driven by stable growth policies and improved demand, with a focus on infrastructure and new economic drivers[197]. - The bank's strategic focus for 2024 includes enhancing management, risk control, and income generation while optimizing structure and improving quality[199]. - The company aims to strengthen its unique offerings in areas such as inclusive finance, technology manufacturing, and green development, while exploring opportunities in pension finance[198].