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2020 Annual Report

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2020 Annual Report Address: No. 36 Jinshamen Road, Jiangbei District, Chongqing, China Mail Box: 400023 www.cqrcb.com 2020 ANNUAL REPORT CHONGQING RURAL COMMERCIAL BANK Stock Code: 3618 * The Bank holds a financial licence number B0335H250000001 approved by the China Banking and Insurance Regulatory Authority and was authorised by the Market Supervision Administration of Chongqing Municipality to obtain a corporate legal person business licence with a unified social credit code 91500000676129728J. The Bank is not an authorised institution in accordance with the Hong Kong Banking Ordinance (Chapter 155 of the Laws of Hong Kong), not subject to the supervision of the Hong Kong Monetary Authority, and not authorised to carry on banking/ deposit-taking business in Hong Kong. Important Notice 1. The Board, the Board of Supervisors and directors, supervisors and senior management of the Bank warrant that the truthfulness, accuracy and completeness of the contents of the annual report, and that there are no false presentations, misleading statements or material omissions herein, and legally liable for this annual report jointly and severally. 2. The 2020 annual report and its summary of the Bank have been considered and approved at the 53rd meeting of the fourth session of the Board of Directors of the Bank convened on 30 March 2021. The number of directors who should attend the meeting is 12 with 12 directors actually attended the meeting, 2 directors entrusted other directors to vote on their behalf, and 1 director was restricted to voting. Some supervisors and senior management personnel of the Bank attended the meeting. 3. The 2020 financial report prepared by the Bank in accordance with Chinese Accounting Standards has been audited by PricewaterhouseCoopers Zhong Tian LLP, and the 2020 financial report prepared in accordance with International Financial Reporting Standards has been audited by PricewaterhouseCoopers. Both auditors issued an unqualified audit report. 4. The chairman of the Bank Liu Jianzhong and president Xie Wenhui warrant the authenticity, accuracy and completeness of the financial report in this report. 5. The Board of Directors of the Bank has recommended a final dividend on ordinary shares for 2020 of RMB0.222 per share (inclusive of tax), such dividend distribution plan will be submitted to the 2020 annual general meeting for consideration. No capitalisation of the capital reserve to share capital is proposed in this distribution. 6. This report may contain forward-looking statements such as future plans of the Bank. Such statements are made by the Bank based on the current situation and forecast, are related to future events or the Bank’s future financial, business or other performance. Possible future plans do not constitute a substantive commitment by the Bank to its investors. Investors and people concerned should be fully aware of the risks and understand the differences between plans, forecast and commitment. 7. There is no misappropriation of the Bank’s funds by its controlling shareholders or other related parties for non-operating purposes and no instance of providing external guarantee that is in breach of the established decision-making procedure. Annual Report 2020 1 Company Profile Chongqing Rural Commercial Bank Co., Ltd. (hereinafter referred to as “Chongqing Rural Commercial Bank”), formerly known as Chongqing Rural Credit Cooperative, was established in 1951 and has a history of nearly 70 years. In 2003, Chongqing became one of the first batch of pilot provinces and cities for the nationwide rural credit cooperative reform. In 2008, the rural commercial bank with a unified legal person in the city was established. In 2010, the Bank’s H-share was successfully listed on the Main Board of the Hong Kong Stock Exchange, becoming the first listed rural commercial bank in China and the first listed bank in the Western China. In October 2019, the Bank was successfully listed on the main board of the Shanghai Stock Exchange, becoming the first rural commercial bank with A+H dual listing in China and the first bank with A+H dual listing in the Western China. In February 2020, the Bank officially explored and adopted the Equator Principle, and was successfully approved as the 4th “Equator Bank” in China and the 1st “Equator Bank” in the Central and Western regions. In the recent years, Chongqing Rural Commercial Bank has made every effort to implement the strategy of “anchoring the Bank with retail, propelling the Bank with technology and empowering the Bank with talents”, adhering to retail as the basis of the Bank’s development and survival to create distinctive retail brands with outstanding contributions and market leadership; adhering to financial technology (“fintech”) as the Bank’s innovation “engine” and driving force for growth to build a fintech platform that is autonomous, controllable, intelligent, efficient, and leading the development; adhering to talents as the Bank’s core resources and precious treasure to build a high-quality talent team and to promote high-quality development across the Bank. As of the end of 2020, Chongqing Rural Commercial Bank had 6 branches and 35 sub-branches, with a total of 1,765 operating outlets, and had initiated the establishment of 1 financial leasing company, 1 wealth management company, and 12 village and township banks, and had more than 15,000 employees. The asset scale exceeded RMB1,100 billion, amounting to RMB1,136.4 billion. The balance of deposits was RMB725.0 billion and the balance of loans was RMB507.9 billion. The Bank ranked No. 122 among the world banks and obtained the entity rating of investment grade “Baa2” in Moody’s International Rating, with a rating outlook of “stable”, which is the highest level in the international rating obtained by local banks. 2 CHONGQING RURAL COMMERCIAL BANK Major Awards The Bank ranked No. 122 among the “Top 1,000 World Banks 2020” and No. 21 among the Chinese- funded banks in The Banker of the UK. The Bank ranked 815th in Forbes magazine’s list of “Forbes Top 2,000 Global Enterprises” in 2020, and 100th in listed companies in mainland China and 1st in Chongqing. The Bank ranked No. 383 among the “2020 Top 500 Enterprises of China” and No. 143 among the “2020 China’s Top 500 Enterprises in Service Industry”. The Bank was rated as A-level enterprise of “Double-hundred Enterprises” in the 2020 special evaluation on three system reform by the State-owned Enterprise Reform Leading Group of the State Council. The Bank’s “Intelligent Digital Platform for Perception and Cognition” project was selected as one of the “Excellent Cases” for digital transformation of state-owned enterprises by the State-owned Assets Supervision and Administration Commission of the State Council (SASAC) in 2020. The Bank won the “Best Digital Financial Products Innovation Award” of the “2020 Gold List of E-banking in China” issued by China Financial Certification Authority (CFCA). The Bank won the “2019-2020 Special Contribution Award for Risk Prevention and Control of UnionPay Card” issued by China UnionPay. The Bank won the “2020 Outstanding Contribution Award for UnionPay Debit Card Business” and “2020 Outstanding Contribution Award for HCE Advertising” of China UnionPay. The Bank’s online residential mortgage loan “Jiefang Loan” won the “Excellent Case of Service Innovation” selected by the Fourth Excellent Cases of Scientific and Technological Innovation of Rural Small and Medium-sized Financial Institutions by the Rural Credit Bank Funds Clearing Center in 2020. The Bank’s “Six Character Law” on Promoting Financial Services to Support Poverty Alleviation has obtained the “Typical Cases of Excellent Organizations” of poverty alleviation in the banking industry nationwide. The Bank won the “2020 Tianji Award of Rural Commercial Bank “and “2020 Tianji Award of Inclusive Financial Services Bank” issued by the Tianji Awards of Securities Times for China Banking industry in 2020. The Bank won the “Rural Commercial Bank of the Year” in the 2020 China Business Network Financial Value List of China Business Network. The Bank won the “Commercial Bank of the Year” in the 2020 Top Financial List of The Paper. The Bank won the “Most Socially Responsible Listed Company” in 2020 Chinese Listed Company Word of Reputation List of National Business Daily. Annual Report 2020 3 Major Awards The Bank won the “Pioneer Institution of Targeted Poverty Alleviation Times” selected by the Third Session of China.org.cn Poverty Alleviation Financial Institution Rankings in 2020. The Bank ranks 11th among the 2020 Top 100 Enterprises of Chongqing and 5th among the 2020 Top 100 Service Enterprises of Chongqing. The Bank’s “Digital Transformation Practice of Regional Banks” won the First Prize for enterprise management modernization innovation achievement in Chongqing granted by Chongqing Enterprise Federation (Entrepreneurs Association) and Chongqing Enterprise Management Modernization Innovation Achievement Approval Committee in 2020. The Bank won the award of “Most Popular for Optimizing Business Environment” for the Self-regulatory Mechanism of Foreign Exchange and Cross-border RMB Business of Banks in Chongqing. The Bank won the “2020 Organization and Promotion of Advanced Units” issued by Chongqing Banking Association for Civilized and Standardized Service of Chongqing Banking. The Bank won award of “Most Caring Unit Against COVID 19” issued by Chongqing Red Cross Society. 4 CHONGQING RURAL COMMERCIAL BANK Contents of the Annual Report Definitions 6 Chairman’s Statement
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