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中國民生銀行股份有限公司 China Minsheng Banking Corp., Ltd

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中國民生銀行股份有限公司 China Minsheng Banking Corp., Ltd Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. 中國民生銀行股份有限公司 CHINA MINSHENG BANKING CORP., LTD. (A joint stock company incorporated in the People’s Republic of China with limited liability) (Stock Code: 01988) (USD Preference Shares Stock Code: 04609) RESULTS ANNOUNCEMENT FOR THE YEAR ENDED 31 DECEMBER 2020 The Board of Directors (the “Board”) of China Minsheng Banking Corp., Ltd. (the “Company”) hereby announces the audited results of the Company and its subsidiaries for the year ended 31 December 2020. This announcement, containing the full text of the 2020 Annual Report of the Company, complies with the relevant requirements of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the “SEHK”) in relation to information to accompany preliminary announcements of annual results. Publication of Annual Results Announcement and Annual Report This results announcement will be published on the HKEXnews website of SEHK (www.hkexnews. hk ) and the Company’s website (www.cmbc.com.cn ). This results announcement is prepared in Chinese and English, respectively. Should there be any discrepancies between the two versions, the Chinese version shall prevail. The 2020 Annual Report of the Company will be dispatched to holders of H shares of the Company and published on the websites of the Company and SEHK in due course. Profit Distribution On 30 March 2021, the 7th meeting of the eighth session of the Board of the Company approved the profit distribution plan to declare to holders of A shares and H shares whose names appear on the registers as at the record dates as indicated in the notice of 2020 annual general meeting of the Company to be published by the Company in due course, a cash dividend of RMB2.13 (tax inclusive) for every 10 shares being held. The above profit distribution plan is subject to the approval of the 2020 annual general meeting of the Company. The cash dividend is expected to be paid to holders of H shares on 12 July 2021. Notice of 2020 annual general meeting of the Company will announce the date of the 2020 annual general meeting of the Company and details of its book closure, as well as the arrangement of book closure for profit distribution. By Order of the Board CHINA MINSHENG BANKING CORP., LTD. Gao Yingxin Chairman Beijing, PRC 30 March 2021 As at the date of this announcement, the Executive Directors of the Company are Mr. Gao Yingxin, Mr. Zheng Wanchun and Mr. Yuan Guijun; the Non-Executive Directors are Mr. Zhang Hongwei, Mr. Lu Zhiqiang, Mr. Liu Yonghao, Mr. Shi Yuzhu, Mr. Wu Di, Mr. Song Chunfeng and Mr. Yang Xiaoling; and the Independent Non-Executive Directors are Mr. Liu Jipeng, Mr. Li Hancheng, Mr. Xie Zhichun, Mr. Peng Xuefeng, Mr. Liu Ningyu and Mr. Qu Xinjiu. IMPORTANT NOTICE The Board, the Board of Supervisors, and the Directors, Supervisors and Senior Management of the Company warrant the truthfulness, accuracy and completeness of the contents of this Annual Report and there are no misstatements, misleading representations or material omissions in this Annual Report, and shall assume several and joint liability. This Annual Report was considered and approved on 30 March 2021 at the 7th meeting of the eighth session of the Board of the Company. Of the 18 Directors who were entitled to attend the meeting, 10 Directors attended the meeting in person. 8 Directors, being the Vice Chairmen Zhang Hongwei, Lu Zhiqiang and Liu Yonghao, and Directors Shi Yuzhu, Wu Di, Xie Zhichun, Peng Xuefeng, and Liu Ningyu, participated in the meeting by teleconference or video conference. Of the 9 Supervisors who were entitled to attend the meeting as non-voting delegates, 9 Supervisors attended the meeting as non-voting delegates. PricewaterhouseCoopers Zhong Tian LLP and PricewaterhouseCoopers, auditors of the Company, have audited the financial reports of 2020 prepared in accordance with the Chinese Accounting Standards (“CAS”) and the International Financial Reporting Standards (“IFRSs”), respectively, and issued standard and unqualified auditors’ reports, respectively. Gao Yingxin (Chairman), Zheng Wanchun (President), Li Bin (Senior Management responsible for finance and accounting and acting person in charge of the accounting department), and Bai Dan (Chief Financial Officer) warrant the truthfulness, accuracy and completeness of the financial reports included in this Annual Report. The profit distribution plan for 2020 was approved by the Board, pursuant to which, a cash dividend of RMB2.13 (tax inclusive) will be distributed to all shareholders of the Company for every 10 shares held on the record dates. The above profit distribution plan is subject to approval by the shareholders’ general meeting of the Company. Unless otherwise specified, all amounts in this Annual Report are denominated in RMB. The forward-looking statements about matters like future plans in this Annual Report do not constitute substantive commitments of the Company to the investors, and the investors and related persons shall maintain sufficient risk awareness in this regard, and shall understand the difference among plans, forecasts and commitments. Material Risk Warning: the Company has no foreseeable material risks. For potential risks, please refer to the section headed “XIV. Prospects and Measures – (III) Potential risks” under “Chapter 3 Discussion and Analysis on Business Operation” of this report. 1 CONTENTS Important Notice 1 Definitions 3 Message from the Chairman 4 Message from the President 8 Development Vision and Reform and Transformation 12 Chapter 1 Bank Profile 17 Chapter 2 Summary of Accounting Data and Financial Indicators 20 Chapter 3 Discussion and Analysis on Business Operation 24 Chapter 4 Changes in Share Capital and Information on Shareholders 113 Chapter 5 Directors, Supervisors, Senior Management, Employees and Business Network 142 Chapter 6 Corporate Governance 177 Chapter 7 Report of the Board of Directors 238 Chapter 8 Report of the Board of Supervisors 245 Chapter 9 Major Events 253 Chapter 10 Financial Reports 270 2 DEFINITIONS In this report, unless the context otherwise requires, the following terms shall have the meanings set out below. Bank, Company, China Minsheng Banking Corp., Ltd. China Minsheng Bank, Minsheng Bank Group The Bank and its subsidiaries Minsheng Financial Leasing Minsheng Financial Leasing Co., Ltd. Minsheng Royal Fund Minsheng Royal Fund Management Co., Ltd. Minsheng Royal Minsheng Royal Asset Management Co., Ltd. Asset Management CMBC International CMBC International Holdings Limited CPPCC The Chinese People’s Political Consultative Conference (中國人 民政治協商會議全國委員會) ACFIC All-China Federation of Industry and Commerce (中華全國工商 業聯合會) CBIRC China Banking and Insurance Regulatory Commission CSRC China Securities Regulatory Commission former CBRC former China Banking Regulatory Commission former CIRC former China Insurance Regulatory Commission SSE Shanghai Stock Exchange SZSE Shenzhen Stock Exchange SEHK The Stock Exchange of Hong Kong Limited Hong Kong Listing Rules the Rules Governing the Listing of Securities on SEHK SFO Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) Model Code Model Code for Securities Transactions by Directors of Listed Issuers as set out in Appendix 10 to the Hong Kong Listing Rules Articles of Association the Articles of Association of China Minsheng Banking Corp., Ltd. Reporting Period the period from 1 January 2020 to 31 December 2020 3 MESSAGE FROM THE CHAIRMAN Another year has passed. Everything takes on a new look. However, looking back on 2020, the unprecedented COVID-19 pandemic led to crumbled global governance system a sharp contraction of international trade and violent turbulence in the financial market, dragging the world economy into a deep recession. In the face of such complex and challenging situations at home and abroad, under the strong leadership of the CPC Central Committee with Comrade Xi Jinping as the core, the whole nation made concerted efforts to push forward the prevention and control of the pandemic as well as economic and social development, making China the first country in the world to rein in the COVID-19 pandemic, to resume work and production, and to achieve a positive economic growth. Total economic volume topped RMB100 trillion, symbolising a successful conclusion of China’s 13th Five-Year Plan, and an exciting prospect of establishing a moderately prosperous society in all aspects. In 2020, under the guidance of Xi Jinping Thought on Socialism with Chinese Characteristics, China Minsheng Bank implemented the decisions and deployments of the CPC Central Committee and the State Council and the requirements of the regulatory authorities. Concentrating on the requirements of ensuring “stability on the six fronts” (i.e. employment, financial operations, foreign trade, foreign investment, domestic investment, and expectations) and “security in six areas” (i.e. employment, basic livelihoods, the development of market entities, food and energy security, stable operation of the industrial and supply chains, and smooth functioning at community level), staying customer-centric and taking integrity as the basis, the Company focused on serving the real economy, preventing
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