JRCB(002807)2023-05-30 08:21Financial Performance and Market Position - Jiangyin Bank's loan balance reached 1082.76 billion yuan by the end of Q1 2023, an increase of 51.47 billion yuan from the beginning of the year, representing a growth rate of 4.99% [4] - The bank's market share in Jiangyin region for deposits and loans was 21.01% and 16.16% respectively at the end of 2022, showing an increase of 6BP and 47BP from the beginning of the year [3] - Jiangyin's GDP in 2022 was 475.4 billion yuan, accounting for approximately 1/3 of Wuxi's total GDP [3] Capital Structure and Convertible Bonds - As of March 2023, 242,047,400 yuan of "Jiangyin Convertible Bonds" had been converted into A-shares, representing 12.1024% of the total issuance [4] - The bank's core tier 1 capital adequacy ratio stood at 12.95%, tier 1 capital adequacy ratio at 12.96%, and total capital adequacy ratio at 14.09% as of March 2023 [4] Regional Economic Context - Jiangyin City, located at the geometric center of the Yangtze River Delta, contributes 5% of Jiangsu's GDP with 1% of its land area [3] - The city is home to 2334 large-scale enterprises and 141 provincial-level specialized and sophisticated enterprises as of 2022 [3] - 43 enterprises from Jiangyin were listed in the 2022 China Top 500 Enterprises [3] Business Development Strategy - The bank has been expanding its regional presence since 2008, establishing 5 village banks and 7 branches in other regions [3] - Since 2016, the bank has opened branches in Suzhou, Wuxi, and Changzhou, all located in the core area of the Yangtze River Delta [3] - The bank has been focusing on retail transformation and expanding inclusive finance business, leading to a gradual decrease in average loan size [3] Investor Relations and Communication - The bank held an investor exchange event on May 26, 2023, in Suzhou, attended by representatives from 28 institutions including major securities firms and fund companies [2] - The bank plans to strengthen communication with investors, particularly major shareholders, to promote the conversion of convertible bonds [4]