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ANNUAL REPORT 2020 Bank of Kunlun Corporation Limited

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ANNUAL REPORT 2020 Bank of Kunlun Corporation Limited BANK OF KUNLUN CO., LTD. ANNUAL REPORT 2020 Bank of Kunlun Corporation Limited Company Profile Bank of Kunlun Co., Ltd. is a state-owned financial enterprise held by the CNPC Capital Limited Company. As a specialized urban commercial bank that integrates of industry and finance, it positively serves the national energy security, supports the real economy and accelerates the socio-economic development. Its predecessor, the Karamay City Commercial Bank, was restructured from the Karamay Urban Credit Cooperative in 2006. In April 2009, CNPC took control of the Karamay City Commercial Bank through sizable capital increase. In April 2010, the Karamay City Commercial Bank was officially renamed Bank of Kunlun (KLB). With the care and support of local governments, regulatory authorities, shareholders, and all sectors of society, the Bank has adhered to the development strategy of integrating of industry and finance since restructuring and has upheld the operational guideline of “quality-priority, profit-oriented, and characteristic services, as well as coordinated development”. Through 11 years of development & construction, and strenuous effort of all employees, the Bank has rapidly grown from a regional urban commercial bank into a national urban commercial bank with distinctive characteristics and nationwide influence, with a growing operation scale and comprehensive strength. The assets grew from RMB 3.8 billion in 2008 to RMB 349.9 billion at the end of 2020, reflecting a compound annual growth rate (CAGR) of 46%. The annual profits increased from RMB 45 million to RMB 3.437 billion, reflecting a CAGR of 43%. The Bank has established ten branch-level institutions in Xinjiang, Beijing, Shanghai, Shaanxi, Heilongjiang and other municipalities and provinces, and initiated and held shares of two rural banks in Leshan and Tacheng. The Bank has 83 branches, and 3,377 employees. In 2020, the award of 2020 China UnionPay “UnionPay Excellent Cooperative Organization”, the honor of China Central Depository and Clearing Co., Ltd. “Top 100 - Excellent Dealers in Settlement”, as well as other honors and awards, were granted to the Bank, fully demonstrating the recognition by regulatory agencies, partners, market intermediaries, and other subjects. 2 ANNUAL REPORT 2020 Contents I. Definitions ……………………………………………………………………………………………… 2 II. Important Notice ……………………………………………………………………………………… 3 III. General Information …………………………………………………………………………………… 4 IV. Financial Highlights …………………………………………………………………………………… 5 V. Chairman’s Statement ………………………………………………………………………………… 8 VI. Rankings and Awards ………………………………………………………………………………… 11 VII. Management Discussion and Analysis ……………………………………………………………… 12 VIII. Changes in Share Capital and Shareholders ………………………………………………………… 58 IX. Directors, Supervisors, Senior Management, Employees and Institutions …………………………… 62 X. Corporate Governance Report ………………………………………………………………………… 80 XI. Report of the Board of Directors ……………………………………………………………………… 92 XII. Report of the Board of Supervisors ………………………………………………………………… 95 XIII. Significant Events …………………………………………………………………………………… 99 XIV. Auditor’s Reports and Financial Statements ……………………………………………………… 101 XV. Documents Available for Inspection ……………………………………………………………… 102 XVI. Acknowledging Opinions of Directors, Supervisors and Senior Management on 2020 Annual Report ……………………………………………………………………………… 103 Appendix: Annual Auditor’s Report and Financial Statements 2020 ………………………………… 104 1 Bank of Kunlun Corporation Limited Definitions I. Definitions In this report, the following terms have the following meanings unless otherwise indicated: The Company Bank of Kunlun Co., Ltd. and its subsidiaries The Bank / Bank of Kunlun Bank of Kunlun Co., Ltd. Ministry of Finance Ministry of Finance of the People’s Republic of China The Restructuring Restructuring of Karamay City Commercial Bank through capital increase by CNPC in April 2009 Company Law Company Law of the People’s Republic of China The Articles of Association of the Articles of Association of Bank of Kunlun Co., Ltd. Bank Karamay City Commercial Bank Karamay City Commercial Bank Co., Ltd. PBOC People’s Bank of China CBRC China Banking Regulatory Commission CBIRC China Banking and Insurance Regulatory Commission CSRC China Securities Regulatory Commission CNPC China National Petroleum Corporation CNPC Capital CNPC Capital Limited Company CNPC Capital Co., Ltd. CNPC Capital Company Limited 2 Important Notice ANNUAL REPORT 2020 II. Important Notice The Board of Directors, the Board of Supervisors and all Directors, Supervisors and Senior Management of Bank of Kunlun Co., Ltd. undertake that the information in this report contains no false record, misleading statement, or material omission. On 15 April, 2021, the Annual Report 2020 of Bank of Kunlun Co., Ltd. and its abstract were deliberated and adopted at the fifteenth meeting of Bank of Kunlun’s Fifth Board of Directors. The Annual Financial Statements 2020 prepared by the Bank in accordance with PRC GAAP have been audited by BDO China Shu Lun Pan CPAs, which has issued a standard and unqualified auditor’s report. Board of Directors of Bank of Kunlun Mr. Jiang Shangjun, Legal Representative and Chairman of the Bank; Mr. He Fang, President of the Bank (on behalf); Mr. Tang Zongheng, General Manager of Planning and Finance Department of the Bank, hereby represent and warrant that the financial statements in the Annual Report 2020 are authentic, accurate and complete. Primary Risk Disclosure During the reporting period, the Bank did not identify any material risks that could adversely affect its future development strategy or business objectives. The Bank has actively adopted measures to effectively manage various risks. For details, please refer to the “Management Discussion and Analysis - Risk Management” section of this report. This report can only be used to help the public better their understanding of Bank of Kunlun. It does not constitute a suggestion for any investment or trading activities, or other business activities of any kind. Risks from its application for those purposes shall be borne by the user. 3 Bank of Kunlun Corporation Limited General Information III. General Information 7．Other Relevant Information: Date of Incorporation: 9 December, 2002 Date of Registration Change: 12 October, 2018 1. Legal Name in Chinese: Registration Authority: Karamay Marketing 昆仑银行股份有限公司 Surveillance & Administration Bureau Legal Name in English: Unified Social Credit Code: BANK OF KUNLUN CORPORATION LIMITED 91650200745209781T Abbreviation in Chinese: 昆仑银行 Financial Institution License Code: Abbreviation in English: Bank of Kunlun (KLB) B0226H265020001 ． 2．Legal Representative: Jiang Shangjun 8 Name of Auditor: BDO China Shu Lun Pan CPAs (LLP) 3．Registered Capital: RMB 10,287,879,258.43 Office Address: Floor 4, New Huangpu Finance Registered Address: No. 7 Century Avenue, Building, No. 61, Nanjing East Road, Huangpu Karamay City, Xinjiang Uygur Autonomous District, Shanghai, China Region, China Postal Code: 834000 9. Business Scope: deposits taking; provision of Business Enquiry and Complaint Hotline: 95379 short-, medium- and long-term loans; domestic Website: http://www.klb.cn/ and international settlement; bills acceptance and discounting; issue of financial bonds; agency 4．Board Secretary: He Fang issue, cashing and underwriting of government Tel.: 0990-6230689 bonds; trading of government bonds and financial E-mail: [email protected] bonds; inter-bank borrowing and lending; trading 5．Information Disclosed at: Financial News or agency trading of foreign exchange; bank card Designated Website for Publication of the business; L/C services and guarantee; agency Annual Report: http://www.klb.cn/ collections and payments and agency insurance; Location where copies of this Annual Report are safe-box services and other banking activities kept: The office of the Board of Directors at the approved by CBRC. (Service[s] subject to approval Bank according to the law shall be carried out only after 6．Legal Advisor: Beijing Jingda Law Firm approval by the competent authority.) Office Address: Room 801-3, Floor 8, Building 1, Yard 59, Gaoliangqiao Xiejie, Haidian District, Beijing This report is prepared in both Chinese and English. In the event of any discrepancy in understanding, the Chinese version shall prevail. 4 Financial Highlights ANNUAL REPORT 2020 IV. Financial Highlights 4.1 Main Financial Data Financial data and indicators in this Annual Report are derived from the auditor’s reports of the Bank in the previous years. The report is prepared in accordance with PRC GAAP, and unless otherwise specified, the data come from the consolidated reports of the Company are presented in RMB. Unit: in RMB 104 Item 2020 2019 2018 Net Interest Income 393,988 426,479 593,402 Net Fee and Commission Income 516 3,179 15,682 Operating Income 592,005 712,431 670,983 Operating and Administrative Expenses 197,943 204,089 189,278 Impairment Losses on Credit Assets 45,509 85,251 N/A Impairment Losses on other Assets 74 (161) N/A Impairment Losses on Assets N/A N/A 95,133 Operating Profit 343,592 418,337 382,076 Profit Before Tax 343,730 418,252 382,223 Net Profit 291,246 358,871 327,488 Net Profit Attributable to the Shareholders of the 291,098 358,724 327,410 Parent Company Total Comprehensive Income Attributable to the 262,148 364,080 375,261 Shareholders of the Parent Company Net Cash Flows From Operating Activities (3,802,549) (3,099,042) (79,221) As at the End of the Reporting Period Unit: in RMB
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