Financial Performance - Operating revenue for 2023 was RMB 24,997,370, a decrease of 5.55% compared to RMB 26,465,220 in 2022[22]. - Pre-tax profit decreased by 20.71% to RMB 5,163,077 from RMB 6,511,454 in the previous year[22]. - Net profit for 2023 was RMB 5,080,903, down 16.81% from RMB 6,107,475 in 2022[22]. - The net cash flow from operating activities increased significantly by 203.04% to RMB 81,308,605 from RMB 26,830,977 in 2022[22]. - The total amount of loans and advances (including discounts) was RMB 932.64 billion, a decrease of 2.57% from the previous year, with corporate loans increasing by 5.90%[62]. - The company achieved operating revenue of RMB 24.997 billion and net profit of RMB 5.081 billion, reflecting a decrease of 5.55% and 16.81% respectively compared to the previous year[35][41]. - The bank's net profit for 2023 was RMB 5,163,077 thousand, a decrease of 20.6% compared to RMB 6,511,454 thousand in 2022[84]. Assets and Liabilities - Total assets reached CNY 1,732.734 billion, a year-on-year increase of 4.42%[12]. - Total liabilities amounted to CNY 1,618.331 billion, growing by 4.44% year-on-year[12]. - Net assets stood at CNY 114.403 billion, reflecting a year-on-year growth of 4.05%[12]. - The total amount of issued bonds was RMB 267.92 billion, with a decrease of 3.17% compared to the previous year[66]. - The total deposits reached RMB 915.16 billion, reflecting an 8.45% growth year-over-year[67]. - The total amount of personal deposits reached RMB 201.00 billion, showing a year-over-year increase of 19.13%[67]. Risk Management - The report includes a detailed description of the main risks faced by the bank and the measures taken to address them[6]. - The bank plans to strengthen risk management and improve asset quality through coordinated strategies[12]. - The bank's focus on risk management includes a three-line defense system to enhance its risk control capabilities[142]. - The bank's liquidity risk management framework includes daily position management, maturity mismatch management, and liquidity asset portfolio management[151]. - The bank's credit policy for 2023 emphasizes support for retail inclusive finance, focusing on high-quality customer bases and risk management requirements[146]. Strategic Focus - The bank aims to enhance its operational stability and quality while focusing on serving national strategies and the real economy[8]. - The bank's strategic focus is on innovation and maintaining core business responsibilities[8]. - The bank's mission emphasizes serving national strategies, the real economy, and creating sustainable value for shareholders while fulfilling corporate responsibilities[31]. - The bank's future outlook includes a commitment to high-quality development and adherence to the new development philosophy[10]. - The bank's strategic focus includes enhancing traditional core businesses, developing intermediary services, and actively pursuing innovative business models[32]. Awards and Recognition - The bank received multiple awards, including the "2023 Annual Inclusive Finance Service Bank" and "2023 Annual Technology Empowered Financial Institution" awards[12]. - Bohai Bank was awarded the "2023 Annual Inclusive Finance Service Bank" by Securities Times[17]. - The bank received the "Outstanding Wealth Management Retail Bank Award" at the 2023 Retail Banking Awards[19]. - Bohai Bank's subsidiary, Bohai Bank Wealth Management Co., won the "Outstanding Bank Wealth Management Subsidiary Award" in 2023[19]. - The bank was recognized as the "Annual Pension Financial Service Institution" at the 2023 Asset Management Summit[20]. Compliance and Governance - The bank has enhanced its internal capital assessment procedures to align with the latest regulatory requirements and internal management needs[168]. - Compliance risk management involves the board, senior management, and various departments, focusing on proactive identification and control of compliance risks[172]. - The bank has implemented a "risk-based" approach to enhance anti-money laundering (AML) measures, with no significant AML risk events reported during the reporting period[173]. Digital Transformation - The bank is focusing on digital transformation and enhancing customer engagement through a unified identity recognition system in the WeChat ecosystem, improving operational capabilities[132]. - The bank's technology investment reached 1.4 billion yuan during the reporting period, focusing on digital transformation and innovation[136]. - The bank's mobile banking app was upgraded to version 6.2, resulting in a doubling of monthly active users on mobile platforms, enhancing customer experience and service capabilities[130]. Economic Context - In 2023, China's GDP grew by 5.2%, with retail sales increasing by 7.2% and fixed asset investment rising by 3.0%[28]. - Global economic growth is projected to decline from 2.6% in 2023 to 2.4% in 2024, with trade growth expected to be half of the average level seen in the previous decade[185]. - Domestic demand expansion is crucial for China's economic recovery, with macro policies expected to strengthen counter-cyclical adjustments[186].
渤海银行(09668) - 2023 - 年度财报