ZRCBANK(002839)2020-04-27 16:00Financial Performance - The total operating income for 2019 was RMB 3,852,844,596.19, representing an increase of 28.48% compared to RMB 2,998,745,805.32 in 2018[22]. - The net profit attributable to shareholders of the listed company for 2019 was RMB 954,163,494.71, an increase of 14.25% from RMB 835,118,718.67 in 2018[22]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 901,873,915.72, up 8.62% from RMB 830,326,937.26 in 2018[22]. - The basic earnings per share for 2019 was RMB 0.53, reflecting a growth of 15.22% from RMB 0.46 in 2018[22]. - The net profit attributable to shareholders of the listed company for Q4 2019 was 221,575,547.75 RMB, while the total operating income for the same quarter was 1,045,770,725.27 RMB[27]. - The company reported a net profit of 52,289,578.99 RMB from non-recurring gains and losses in 2019[28]. - The total net profit attributable to ordinary shareholders for 2019 was 954,163,494.71 yuan, with the cash dividend amount still unknown[181]. Assets and Liabilities - The total assets at the end of 2019 amounted to RMB 123,044,681,891.26, an increase of 8.46% from RMB 113,446,248,280.41 at the end of 2018[22]. - The total liabilities of the company at the end of 2019 were 112,307,263,071.95 RMB, compared to 103,435,593,740.52 RMB in 2018[32]. - The company's total equity increased by 7.26% to CNY 10.74 billion, compared to CNY 10.01 billion in the previous year[126]. - The bank's total deposits reached CNY 90.80 billion, a growth of 14.21% compared to CNY 79.50 billion in the previous year[122]. Cash Flow - The net cash flow from operating activities for 2019 was negative RMB 3,775,770,425.93, compared to a positive RMB 5,505,786,558.35 in 2018[22]. - The net cash flow from operating activities was negative at CNY -3.78 billion, slightly improved from CNY -3.80 billion in the previous year[126]. - The bank's net cash flow from investment activities improved significantly to CNY 3.83 billion, compared to a negative cash flow of CNY -744.94 million in the previous year[126]. Risk Management - The company emphasizes the importance of risk management and has detailed its major risks and corresponding measures in the annual report[4]. - The company faces significant credit risk primarily from its loan business, which is a major source of income[152]. - The company has implemented a comprehensive risk management system to enhance credit risk management, focusing on differentiated credit policies and asset structure adjustments[156]. - The company has established liquidity risk management measures, including liquidity risk limits and regular stress testing to enhance management capabilities[158]. Dividend Policy - The company plans to distribute a cash dividend of RMB 1.50 per 10 shares to all shareholders for the 2019 fiscal year[4]. - The profit distribution plan for 2019 includes a cash dividend of 1.5 yuan per 10 shares, totaling 1,467,315,856.57 yuan, which accounts for 100% of the profit distribution amount[182]. - The company has committed to maintaining a minimum cash dividend ratio during its growth phase, ensuring that cash dividends are prioritized in profit distribution[182]. - The cash dividends for 2018 and 2017 were 32.47% and 23.69% of the respective net profits, indicating a consistent dividend policy[181]. Market Position and Growth - The bank's non-performing loan ratio was reported at 1.38% for 2019, down from 1.47% in 2018[33]. - The bank's total deposits and loans market share in Zhangjiagang reached 21.38% and 15.03%, respectively, maintaining the top position among all financial institutions in the region[50]. - The number of credit clients increased by 26.70% year-over-year, reaching 150,900 clients by the end of 2019[54]. - The bank ranked 619th in the Global 1000 Banks list by The Banker magazine, improving by 33 positions from the previous year[46]. Operational Efficiency - The company has implemented a new financial instrument accounting standard starting January 1, 2019, transitioning to an expected loss impairment model[101]. - The total operating expenses rose by 13.18% to RMB 1,200,019,652.22 in 2019, with a cost-to-income ratio decreasing by 4.21 percentage points to 31.15%[100]. - The approval time for micro-loan applications has been reduced from 20 minutes to 10 minutes due to the adoption of an intelligent micro-loan approval system[71]. Strategic Initiatives - The bank has prioritized support for small and micro enterprises, with a focus on advanced manufacturing and high-tech industries[74]. - The company is committed to promoting inclusive finance transformation and upgrading its services to support small and micro enterprises[168]. - The bank is deepening its local market presence while accelerating the transformation of its out-of-area institutions to create new growth engines[169].