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Public company info - Jiangxi Bank Co. Ltd.-H shares , 01916.HK
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Jiangxi Bank Co. Ltd.-H shares, 01916.HK - Company Profile
Chairman CHEN Xiaoming
Share Issued (share) 1,346,000,000
Par Currency Renminbi
Par Value 1.0
Industry Banks
Corporate Profile Business Summary: The Bank is primarily engaged in banking businesses and related financial services, including corporate banking, retail banking, treasury business and other business. Performance for the year: Operating income amounted to RMB12.953 billion, representing an increase of RMB1.602 billion or 14.12% over the end of last year. In 2019, the Group realized RMB2.957 billion in profit before tax, representing a year-on-year decrease of 12.17%, and RMB2.109 billion in net profit, representing a year-on-year decrease of 23.89%. Business Review Corporate Banking (1) Corporate deposits During the Reporting Period, under the pressures of economic growth slowdown and financial and tax system reform, the Bank continued to promote the transformation of corporate business and use financial technologies to accelerate product innovation and system optimization, so as to promote institutional business and transaction banking business. Meanwhile, the Bank actively participated in fund tender and bidding projects of institutional clients and successfully won the bid for such projects as the management fund of Jiangxi provincial treasury cash and agency qualification for centralized payment of provincial treasury. It also entered into the contract for “Gan Fu Tong” of Jiangxi government service, took part in the construction of “Smart City” and created a series of selected projects in healthcare, education and other fields, thereby promoting the continuous growth of its corporate deposits. As of the end of the Reporting Period, the balance of the Bank’s corporate deposits reached RMB195.280 billion, representing an increase of RMB4.214 billion or 2.21% over the end of last year. (2)Corporate loans and advances As of the end of the Reporting Period, the total amount of corporate loans and advances (discounted bills were not included, same as followings) issued by the Group reached RMB113.842 billion, representing an increase of 19.07% over the end of last year. Corporate loans and advances are the largest component of the Group’s loan portfolio, most of which are denominated in RMB. (3)Corporate customers As of the end of the Reporting Period, the Bank had approximately 74,461 corporate deposit customers, representing an increase of 7,265 or 10.81% from the end of last year, and approximately 3,981 corporate loans and advances customers, representing an increase of 112 or 2.9% from the end of last year. The Bank’s corporate customer base was constantly consolidated. During the Reporting Period, the Bank put great efforts to carry out the special marketing activities with a focus on financial, social security, medical insurance and other administrative institutions, and strove to make breakthroughs in marketing activities targeted at institutional customers and transaction banking customers. Furthermore, the Bank actively expanded strategic customers such as major state-owned enterprises, listed/to-be-listed enterprises and industry-leading enterprises, provided them with comprehensive financial services such as cash management, capital settlement, credit financing and bond issuance, as well as strengthened and deepened all-round business cooperation, so as to enhance the stickiness of strategic customers. (4)Corporate products Settlement business As of the end of the Reporting Period, the Bank had 9,858 accounts of enterprise mobile banking. Among them, 2,533 accounts were opened this year and 96,328 transactions with a total transaction value of RMB4.255 billion were made. As of the end of the Reporting Period, the Bank had a total of 7,144 accounts of unit settlement card, of which 471 were opened this year and 78,771 transactions with a total transaction value of RMB754 million were made. Supply chain finance The Bank equipped its products with financial technologies and continued to upgrade supply chain financial services. At the end of May 2019, the Bank actively made “blockchain + supply chain finance” arrangements, launched the “Cloud Enterprise Chain” online factoring and financing products, and used blockchain technologies to provide online financing for upstream suppliers of core enterprises in the industry value chain. As of the end of the Reporting Period, the Bank’s balance of supply chain finance business amounted to RMB3.213 billion, serving a total of 121 enterprises, of which the balance of online factoring and financing products of “Cloud Enterprise Chain” was RMB315 million, serving a total of 74 enterprises. (5)Investment banking During the Reporting Period, the Bank vigorously consolidated the foundation of investment banking business and steadily carried out the lead underwriting business of non-financial corporate debt financing instruments. On February 22, 2019, as approved by National Association of Financial Market Institutional Investors, the Bank became a B-Class lead underwriter for non-financial corporate debt financing instruments, and was approved to carry out the lead underwriting business of non-financial corporate debt financing instruments within Jiangxi Province, marking an important step in the Bank’s service to local economy and direct corporate financing in Jiangxi Province. During the Reporting Period, as one of the first batch of “B-Class lead underwriters of non-financial corporate debt financing instruments” in Jiangxi Province, the Bank assisted a total of 7 enterprises in Jiangxi Province in issuing 10 non-financial corporate debt financing instruments, with a total issue amount of RMB11.3 billion, of which RMB4.51 billion was underwrote by the Bank. According to the statistics of the open market, the Bank ranked first in terms of both the underwriting amount and the issue amount among 12 new lead underwriters in the country. (6) Micro-finance Adhering to the market positioning of “serving small and micro enterprises”, the Bank strove to achieve inclusive finance, vigorously served the real economy, and made real efforts for actual results on such problems as “difficult financing, expensive financing and slow financing” facing small and micro enterprises, so as to constantly improved the financial services offered to small and micro enterprises. As of the end of the Reporting Period, the Group’s small and micro enterprise loan balance (with the credit granted to a single customer less than RMB10 million (inclusive)) was RMB28.019 billion, up by RMB5.526 billion or 24.57% from the end of last year. There were 18,140 customers who received small and micro enterprise loan (with the credit granted to a single customer less than RMB10 million (inclusive)), up by 1,011 from the end of last year. The NPL ratio of inclusive type small and micro enterprises was controlled under the regulatory requirements; the weighted average interest rate was 5.96%, 0.83 percentage point lower than that of last year. It effectively lowered the financing costs of small and micro enterprises. Retail Banking (1) Retail deposits During the Reporting Period, the Bank continued to deepen the transformation of retail business operation mode and obtain settlement-type deposits in bulk through public-private linkage projects, specific customer group activities and other marketing methods. The Bank further expanded its service channels downwards and made further preparation to provide rural financial services, so as to tap the growth potential of retail deposits in county areas. As of the end of the Reporting Period, the Bank’s retail deposit balance reached RMB86.020 billion, representing an increase of RMB21.114 billion or 32.53% over the end of last year. As of the end of the Reporting Period, according to the People’s Bank of China, the Bank took up a market share of 4.42% in RMB savings deposits in Jiangxi Province, up by 0.60 percentage point over the end of last year; newly taken deposits accounted for 8.43%, representing an increase of 3.40 percentage points over the end of last year; and the growth rate was 32.70%, 17.88 percentage points higher than the average growth rate in Jiangxi Province. The Bank took up a market share of 11.89% in RMB savings deposits in Nanchang City, up by 0.98 percentage point over the end of last year; newly taken deposits accounted for 18.19%, representing an increase of 21.33 percentage points over the end of last year and ranking first; and the growth rate was 25.96%, 10.38 percentage points higher than the average growth rate in Nanchang City. During the Reporting Period, the Bank accelerated the expansion of deposit business in county areas, completed the pilot project of inclusive financial service stations in rural areas, and launched deposit marketing activities in county areas. As a result, significant growth was achieved in savings deposits in county areas of Jiangxi Province1. As of the end of the Reporting Period, the Bank’s county sub-branches in Jiangxi Province recorded a savings deposit balance of RMB23.535 billion, representing an increase of RMB7.305 billion or 45.01% from the end of last year. During the Reporting Period, the Bank took multiple measures simultaneously with a focus on improving the marketing capability of settlement-type deposits. The Bank carried out the activity of preferential rate in acquiring fee for POS merchants and introduced the policy of deposits settlement for individual industrial and commercial businesses. It formulated incentive measures for the development of customers to whom it provides agency services and actively carried out the issuance and activation of social security cards. As of the end of the Reporting Period, the Bank’s balance of retail demand deposits reached RMB21.058 billion, representing an increase of RMB1.769 billion or 9.17% compared to the end of last year. The Bank strengthened the marketing of superior deposit products and introduced large-amount deposits. During the Reporting Period, the Bank issued a total of 13 phases of large certificate of personal deposit which were widely recognized by customers. (2)Retail loans During the Reporting Period, the Bank strengthened the innovation of personal loan products, improved the experience of handling personal loan business online, and promoted the expansion of retail loan customers, which resulted in the expansion of customer scale and the improvement of efficiency. As of the end of the Reporting Period, the Group’s balance of retail loan reached RMB80.728 billion, representing an increase of RMB13.797 billion or 20.61% over the end of last year. During the Reporting Period, the total interest income of the retail loan business was RMB4.901 billion, an increase of RMB1.285 billion or 35.52% over the same period of last year, and the profitability of retail loans was significantly improved. During the Reporting Period, the Bank relied on electronic channels for the innovation of personal loan product and focused on strengthening the integration of “Online + Offline” business processes of personal loan business. By launching the “Real Estate Mortgage Quick Repayment” (房抵快貸) product, the Bank realized such functions as online value evaluation of mortgaged real estates in its handheld bank and immediate borrowing and repayment on mobile terminal, which greatly improved product experience. The Bank introduced the “Online Loan” function which realized the business operations of viewing offline loan information, inquiring about repayment plan, making advance repayment, etc. in the handheld bank and made it more convenient for customers to handle their businesses. (3)Retail customers During the Reporting Period, the Bank carried out a series of customer group marketing activities with certain results achieved in obtaining customers in bulk, and consolidated the retail customer base through project marketing and channel marketing. First, the Bank formed a joint marketing team of “head office, branches and sub-branches” in combination with corporate projects such as “Yinyitong” and “Talent Bank” to explore the opportunities to obtain customers and provide individual comprehensive financial service plans for the employees from cooperative enterprises. Second, the Bank issued incentive policies for the marketing targeted at customers receiving agency services regarding social insurance, and organized branches to actively connect with social insurance authorities within their jurisdictions to jointly carry out online and offline marketing activities for social insurance customers. During the Reporting Period, the Bank issued 77,400 social insurance cards in total. The total number of social insurance and wages directly paid through the Golden Social Security Project Phase II System was 633,300, and the total amount of social insurance and wages for the Bank’s customers amounted to RMB2.286 billion. Third, the Bank vigorously promoted the “Smart Life Payment” service and expanded the customer bases of collecting units for tuition, party fees, property fee, rent and other funds with a total number of customer payments of 83,600 during the Reporting Period. (4) Bank cards During the Reporting Period, the Bank cooperated with well-known Internet companies to launch the function of binding “Meituan Payment” and “NetEase Payment” with the Bank’s debit cards, thus expanding the channel for online payment. The Bank worked with third-party payment institutions including China Unionpay to carry out joint marketing activities such as “Reduction in Payment Through Wechat by Jiangxi Bank Debit Card”, “Discount in Payment Through Mei Tuan by Jiangxi Bank Debit Card”, “Unionpay Card Flash Payment for Subway and Bus Activity”, “Fortune Card Golden Pig Shopping Festival”, “Fee Reduction for Consumption of Ten Thousand Tables of Reunion Dinner”, “Fortune Card Fee Reduction for Refueling” “6 + 2 Discount for Unionpay”, and “Discount in Double 12 Shopping Spree for Mobile QuickPass” to enhance the use rate of the Bank’s debit cards in online payment. During the Reporting Period, the total amount of online payment using the Bank’s debit card reached RMB27.856 billion. (5)Wealth management During the Reporting Period, the Bank further enriched investment and wealth management products, launched wealth management products for cash management, and regularly issued “New Customer Wealth Management”, “County Customer Wealth Management”, “Group Customer Wealth Management” and other special products. Relying on the functions of “Gold Supermarket” and “Insurance Plaza” launched in the handheld bank, businesses of all investment and wealth management products could be efficiently handled on the mobile terminal. During the Reporting Period, the Bank strengthened cooperation with professional institutions to enrich customer value-added services by launching theme activities such as “Lectures on College Application” and “Creative Competition for Little Inventors”. Followed hot spots in the market, the Bank held lectures such as “STAR Market Investor Education” and “Analysis of Investment Opportunities in Gold Market” to enhance the stickiness of wealth management customers and increase both the quantity and quality of high-net-worth customers. As of the end of the Reporting Period, the Bank had 248,800 individual VIP customers1, representing an increase of 22.17% from the end of last year. The balance of VIP customers’ financial assets reached RMB100.545 billion, representing an increase of 26.15% from the end of last year. Financial Markets Business (1) Money market business During the Reporting Period, the central bank implemented a prudent monetary policy, strengthened the counter-cyclical adjustment and guided the steady operation of money market rate. While paying close attention to the changes in financial regulation and monetary policies, the Bank maintained reasonable and sufficient liquidity, adapted to the reforms and changes in LPR quotation system, flexibly uses tools such as short-term borrowing facilities, so as to satisfy the regulatory requirements for liquidity management and promote the steady development of money market business. As of the end of the Reporting Period, the balance of the Group’s deposits with banks and other financial institutions, placements with banks and other financial institutions and financial assets held under resale agreements amounted to RMB15.133 billion, and the balance of the Group’s deposits from banks and other financial institutions, placements from banks and other financial institutions and financial assets sold under repurchase agreements amounted to RMB53.472 billion. (2)Investment in securities and other financial assets During the Reporting Period, the Bank continued to implement local regulatory policies and guidelines, and implemented a number of initiatives to return to its fundamental business and optimize its asset structure. On the one hand, the Bank lowered the proportion of investment business in total assets, gradually increased the proportion of standardized assets and broadened the types of investment to serve and cooperate with its branches to develop corporate, investment banking and retail businesses; on the other hand, the Bank deepened its efforts to develop customers of its branches in the province and the places where they located, and strove to provide its customers with plans for comprehensive financing services in the financial market. As of the end of the Reporting Period, the balance of the Bank’s investment in bonds, investment products under the trust plan, investment products under the securities company’s management and other financial products reached RMB189.578 billion; the balance of Bank’s bond investment was RMB55.015 billion and investment products under the trust plan, investment products under the securities company’s management and other financial products totaled RMB133.096 billion. As of the end of the Reporting Period, the Bank was granted the honorary titles of “Top 300 in Inter-bank Domestic Currency Market Transaction of 2019”, “Core Trader in Inter-bank Domestic Currency Market of 2019” and “Outstanding Currency Market Trader of 2019” as well as the “Award of Trading Mechanism Innovation of 2019” by China Foreign Exchange Trade System & National Interbank Funding Centre. (3) Assets management business During the Reporting Period, the Bank focused on the working concept of “emphasizing both the growth rate and risk prevention in transformation and development” and implemented the guiding principles of regulatory policies to steadily promote the transformation to net worth wealth management. As of the end of the Reporting Period, the Bank’s wealth management products had a subsisting balance of RMB33.201 billion, representing a decrease of 3.82% from the same period of last year, of which the investment scale of individual customers reached RMB32.131 billion, accounting for 96.78% and up by RMB1.898 billion over the same period of last year. At the same time, the Bank successfully issued the “Yousheng Wealth Management – Small Happiness”, a net-worth wealth management product for cash management, and became the first city commercial bank in Jiangxi Province to issue similar products. During the Reporting Period, the Bank was granted the “Advanced Institution Award in Asset Management Business for 2019” by China Central Depository & Clearing Co., Ltd. (“CCDC”) and the honorary title of “Excellent City Commercial Bank for Banking Wealth Management Information Registration of 2019” by China Banking Wealth Management Registration & Depository Co., Ltd. with its excellent investment management ability and good performance in data reporting. In order to deepen the transformation and development of asset management business and constantly improve the competitiveness of our financial products, our next step is to optimize and standardize the work from the aspects of investor education and training, qualified investor identification, asset investment allocation, risk compliance construction and system transformation and development, increase the offering of net-worth wealth management products, and focused on enriching the types of wealth management products, so as to constantly improve the investment research ability and contribute to maintaining and increasing the wealth of residents, supporting the development of real economy and promoting the steady transformation and development of wealth management services of banks. Network Finance Business During the Reporting Period, the Bank continued to strengthen the financial technology empowerment and improve the online financial service capacity. By extending online financial services through various electronic channels and adding the function of management and control over customers with expired ID and Fortune Mall project, the Bank effectively safeguarded the legitimate rights and interests of customers and improved customer experience. By virtue of the convenience, timeliness and security in operation, the Bank stood out from nearly 100 banks and won the “Best Mobile Banking Innovation Award” jointly granted by China Financial Certification Center (CFCA) and www.cebnet.com.cn. International Business During the Reporting Period, aiming at light assets and high income and according to the latest regulatory requirements, the Bank worked on its product portfolio, relied on cross-border payment, letter of credit, forfaiting and other products and services, and followed the idea of integration of local and foreign currencies and domestic and foreign linkage, so as to meet Jiangxi enterprises’ need to “go out” and provide customers with diversified and comprehensive cross-border financial service plans. As of the end of the Reporting Period, the Bank handled international settlement of USD6.345 billion, up by 21% year on year; the balance of on-balance-sheet and off-balance-sheet financing reached RMB19.444 billion, up by 68.26% year on year . Prospects: 2020 is the end of China’s 13th five-year plan to finish building a moderately prosperous society in all respects. Despite the complexity of the external environment and the temporary impact of epidemic of novel coronavirus pneumonia since early 2020 in China, the Chinese economy has great resilience, potential and room for maneuver. The basic trend of “steady and long-term improvement” remains unchanged. Under the policy framework of “stable macro policies, flexible micro policies and supportive social policies”, a proactive fiscal policy and a prudent monetary policy will, together with the favorable consumption, investment, employment, industry and regional policies, promote the “double upgrading” of industry and consumption and keep the Chinese economy operating within a reasonable range. In 2020, Jiangxi will fully implement the strategy of becoming a strong industrial province and vigorously implement the high-quality leapfrog development of “2+6+N” industry. It will carry out the campaign to speed up the pace of project construction, focusing on the implementation of 2,933 provincial large and medium-sized projects, with a total investment of approximately RMB2.57 trillion and an annual investment of approximately RMB770 billion. In 2020, the Bank will strictly comply with the regulatory requirements, focus on rectification and risk control, improve quality and efficiency, promote development, and achieve steady improvement of operating efficiency and asset quality; speed up the response to major policies of the central government and Jiangxi, increase support for the real economy, focus on distinctive industries and accelerate product innovation; continue to optimize institutions and mechanisms, actively introduce scientific and technological means, and strengthen overall risk management; and strengthen infrastructure construction such as talent team building, compliance culture and financial management to generate high-quality growth drivers.

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