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Annual Report 2018 Annual Report Annual Report HUA XIA BANK CO., LIMITED 2018 HUA XIA BANK CO., LIMITED HUA XIA BANK CO., Address: Hua Xia Bank Mansion, 22 Jianguomennei Street, Dongcheng District, Beijing Postal code: 100005 Tel: 010-85238570 010-85239938 Fax: 010-85239605 Website: www.hxb.com.cn CONTENTS 3 Message from Chairman for the Annual Report 2018 5 Message from President for the Annual Report 2018 6 Important Notice 7 Section I Definitions 8 Section II Company Profile and Major Financial Indicators 13 Section III Business Overview 16 Section IV Discussion and Analysis of Operations 53 Section V Significant Events 64 Section VI Details of Changes in Ordinary Shares and Shareholders 74 Section VII Preference Shares 78 Section VIII Basic Information on Directors, Supervisors, Senior Management Members and Employees 89 Section IX Corporate Governance 94 Section X Financial Statements 95 Section XI List of Documents for Inspection 96 Written Confirmation of the Annual Report 2018 by Directors and Senior Management Members of Hua Xia Bank Co., Limited 98 Auditor’s Report 2018 Annual Report Hua Xia Bank Co., Limited Chairman of the Board: Li Minji 2 Message from Chairman for the Annual Report 2018 MESSAGE FROM CHAIRMAN FOR THE ANNUAL REPORT 2018 In 2018, China started to act on the guiding principles Hereby, I would like to extend my sincere gratitude to of the 19th CPC National Congress and celebrated the the public, shareholders, senior management and entire staff 40th anniversary of reform and opening-up, while Hua Xia on behalf of our Party Committee and the Board of Directors. Bank promoted its four-year development program towards Looking into the future, we will follow the fundamental in-depth implementation. In the year, faced up with the strategy of “putting deposits at our heart and making us complicated external situation and market environment as stronger with FinTech and competent employees”, stay true well as arduous operating tasks, we pursued the Xi Jinping to the track towards “featured, digital, comprehensive and Thought on Socialism with Chinese Characteristics for a New asset-efficient development”, and strive to develop into a Era as a guide, and acted on the core messages conveyed modern financial group that is “large and strong, stable and on the 19th CPC National Congress and the new outlook excellent”. on development in earnest. While focusing our attention on the following three major missions: serving the needs of real The year 2019 witnesses the 70th anniversary of the economy, forestalling financial risks, and pushing forward founding of new China. It is also a crucial year for China to financial reform, we resolutely followed the Party leadership, secure a decisive victory in building a moderately prosperous advanced the four-year development program, tackled with society in all respects and realizing its first centenary goal. the capital bottleneck that held back our development on For us, the year is also pivotal, because our four-year the whole, brought assets and liabilities under scientific and development program will carry forward in a new paragraph. efficient management, kept a tight grip on asset quality, So we will go all out to do a good job in 2019. Reform is implemented the strategy of serving State strategies and local an ongoing process. In 2019, we will move as just required mainstream economy, allowed FinTech to give its driving role by the financial supply-side structural reform. Riding on into full play, and made headway in building a sound cadre the trend and proceeding from institutional reform, we will team. Thanks to the generous support of governments at keep optimizing asset quality as a guarantee, prioritize on various levels and all shareholders, all of us pulled together benefit and efficiency enhancement, and put the four-year to overcome setbacks and forge ahead. As a result, we development program in operation profoundly. Determined achieved impressive results in all aspects of our work, and persistent, we will seek for high-quality development, and took new steps towards the completion of tasks and give back to the society and shareholders with excellent objectives set out in the development program. performances, and pay tribute to the new China at its 70-year-old birthday. We succeeded in accomplishing the objectives and tasks assigned by the Board of Directors. Our total assets hit RMB2,680.6 billion, up 6.84% over the beginning of 2018, net profit attributable to shareholders of the listed company stood at RMB20.854 billion, up 5.22% year on year, and asset quality got stabilized and picked up. We wrapped Chairman of the Board: Li Minji up the private equity placement as well as expected. By the end of 2018, the private equity placement managed to raise RMB29,232 million, further consolidating our capital foundation. As we are halfway to the deadline set by the development program, the tasks specified therein have been more than half complete. Our total assets and profit growth both outperform expectations; and many indicators including liquidity and CAR improve comprehensively in line with regulatory requirements. All priority strategies and sub-programs were advanced steadily. Fairly great and fast developments were achieved in terms of FinTech innovation, retail banking, financial services for SMEs, green finance-featured business, and other aspects in particular. So our brand image and market influence got enhanced consequently. The release and implementation of various sub-programs gave an important boost to the realization of the overall goal outlined in the development program. As a steadily upward trend is taking shape, our asset-liability structure has basically stabilized, and net interest margin gone up quarter by quarter; our operating income, pre- provisioning profit, and net profit have all grown at a rate higher than last year; and our cost-to-income ratio has continued to dwindle by dropping 0.38 percentage point year on year. What we have achieved in operational management and business development throughout the year is remarkable. 3 2018 Annual Report Hua Xia Bank Co., Limited President: Zhang Jianhua 4 Message from President for the Annual Report 2018 MESSAGE FROM PRESIDENT FOR THE ANNUAL REPORT 2018 2018 is a crucial year for Hua Xia Bank to carry In 2018, we secured new breakthroughs in FinTech forward the four-year development program. In face of the innovation. In addition to setting up the IT production complicated external situation and market environment, we framework that consisted of “one department and six upheld the general principle of “seeking for progress while centers”, we initiated 15 FinTech sub-programs as key maintaining stability” and the new development philosophy, projects on all fronts, and advanced the IT projects and and focused on the three major missions: serving the needs refined related systems in an orderly way. As a result, IT and of real economy, forestalling financial risks, and pushing marketing services worked better together, the Head Office forward financial reform. We pursued market-oriented and branches cooperated more smoothly, and FinTech-driven development, furthered reform and innovation, enhanced transformation efforts took more noted effect. With 295 new development quality, promoted the implementation of new interconnected platforms, our online finance business realized development program on all fronts, and secured major a year-on-year growth of 71.68% in business income. progress in strategic priorities. As a result, we succeeded in accomplishing the operating tasks and objectives for the What we have achieved is impossible without whole year. customers’ trust, employees’ hard work, and governments’ support, as well as new opportunities brought about by As at the end of 2018, our total assets reached the new era. We are grateful for all of these and keep our RMB2,680.6 billion, up 6.84% year on year; operating income founding mission in mind. In practice, we continue to satisfy stood at RMB72.2 billion, up 8.80% year on year; and net every consumer with wholehearted and professional financial profit attributable to shareholders of the listed company services, and deliver consistent and excellent performances amounted to RMB20,854 million, up 5.22% year on year. It in tribute to the 40th anniversary of reform and opening-up. is worth special mentioning that we completed the private equity placement to realize an increase of RMB2.92 billion 2019 marks the 70th anniversary of the founding of in capital base and raise the CAR to 13.19%, thus laying a PRC. It is a great test for every Chinese company to decide sound capital base for the implementation of the development what they can do to celebrate this historic moment. Standing program. at a starting point of the new era, we are exploring for a path of transforming the modern banking industry, pushing forward In 2018, we made new headway in developing strategic the reform and opening-up initiative in finance, bolstering the business. We sped up the transform and development of ability to serve the real economy, and making tough efforts retail business, vigorously improved customer marketing, to forestall and defuse financial risks. All of this is the key to products and services, and teamed up with external entities stead development in the future. in online lending business efficiently. Thanks to these efforts, the proportion and contribution of retail business kept rising. As China is in its prime era, it is high time for us to While striving to become a lead bank serving the coordinated set sail. In the new year, we will shoulder responsibilities development of the Beijing-Tianjin-Hebei Region financially, willingly, overcome setbacks confidently, and make we centered on major tasks such as helping Beijing relieve innovation unceasingly. To this end, we will seize the fleeting its non-capital functions, and prioritized on rendering financial opportunities, grasp the essence of finance, promote the services in the following six fields: infrastructure construction, supply-side structural reform in the financial sector, and work industrial transfer, FinTech innovation, culture & creativity, hard to pursue steady growth and forestall risks.
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