WEIHAI CITY COMMERCIAL BANK CO., LTD.* 威海市商業銀行股份有限公司* (A Joint Stock Company Incorporated in the People’S Republic of China with Limited Liability) (Stock Code: 9677)
Total Page：16
File Type：pdf, Size：1020Kb
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. WEIHAI CITY COMMERCIAL BANK CO., LTD.* 威海市商業銀行股份有限公司* (A joint stock company incorporated in the People’s Republic of China with limited liability) (Stock Code: 9677) ANNOUNCEMENT OF ANNUAL RESULTS FOR THE YEAR ENDED 31 DECEMBER 2020 The board of directors (the “Board”) of Weihai City Commercial Bank Co., Ltd.* (the “Bank”) hereby announces the audited annual results of the Bank and its subsidiary (the “Group”) for the year ended 31 December 2020. This announcement, containing the full text of the 2020 annual report of the Bank, complies with the relevant requirements of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited in relation to information to accompany preliminary announcement of annual results. The Group’s final results for the year ended 31 December 2020 have been reviewed by the audit committee of the Bank. This results announcement will be published on the website of The Stock Exchange of Hong Kong Limited (www.hkexnews.hk) and the Bank’s website (www.whccb.com). The Bank’s 2020 annual report will be despatched to the holders of H shares of the Bank and published on the websites of The Stock Exchange of Hong Kong Limited and the Bank in due course. By Order of the Board Weihai City Commercial Bank Co., Ltd.* TAN Xianguo Chairman Weihai, China 31 March 2021 As at the date of this announcement, the Board of Directors of the Bank comprises Mr. TAN Xianguo, Mr. MENG Dongxiao, Mr. ZHANG Renzhao, Mr. BI Qiubo and Ms. TAO Zunjian as executive Directors; Mr. LI Hang, Mr. WANG Song, Mr. SUN Chenglong, Mr. YI Jijun and Mr. WANG Qixiang as non-executive Directors; Mr. LIU Xue, Mr. LU Qing, Mr. SUN Guomao, Mr. ZHANG Guanghong and Mr. FAN Chi Chiu as independent non-executive Directors. * Weihai City Commercial Bank Co., Ltd.* is not an authorized institution within the meaning of the Banking Ordinance (Chapter 155 of the Laws of Hong Kong), not subject to the supervision of the Hong Kong Monetary Authority, and not authorized to carry on banking and/or deposit-taking business in Hong Kong. CONTENTS 2 Chapter 1 Important Notice 3 Chapter 2 Definitions 6 Chapter 3 Corporate Information 10 Chapter 4 S ummary of Four-Year Accounting Data and Financial Indicators 13 Chapter 5 Management Discussion and Analysis 82 Chapter 6 Changes in Share Capital and Information on Shareholders 88 Chapter 7 D irectors, Supervisors, Senior Management and Employees 107 Chapter 8 Corporate Governance Report 129 Chapter 9 Report of the Board of Directors 139 Chapter 10 Report of the Board of Supervisors 142 Chapter 11 Important Events 144 Chapter 12 Independent Auditor’s Report 153 Chapter 13 C onsolidated Financial Statements and the Notes to the Consolidated Financial Statements 284 Chapter 14 Unaudited Supplementary Financial Information 299 List of Institutions CHAPTER 1 IMPORTANT NOTICE 1. The Board of Directors, the Board of Supervisors, Directors, Supervisors and senior management of the Bank warrant that there are no false representations, misleading statements or material omissions contained in this report, and jointly and severally accept responsibility for the truthfulness, accuracy and completeness of the information contained in this report. 2. The 2020 annual report of the Bank (the “Annual Report”) was approved unanimously at the 23rd meeting of the seventh session of the Board of the Bank held on 31 March 2021, which was considered and approved by way of valid voting. 15 directors were eligible to attend the meeting, and 14 directors attended the meeting in person. Certain Supervisors of the Bank attended the meeting. 3. The 2020 financial report of the Group prepared in accordance with the China Accounting Standards for Business Enterprises has been audited by BDO China Shu Lun Pan Certified Public Accountants LLP, which has issued a standard unqualified audit report. The 2020 financial report prepared in accordance with the International Financial Reporting Standards has been audited by BDO Limited, which has issued a standard unqualified audit report. 4. TAN Xianguo, Chairman, MENG Dongxiao, President, and TAO Zunjian, Chief Accountant and Head of the Finance Department of the Bank, warrant the truthfulness, accuracy and completeness of the financial report in this annual report. 5. The Board of Directors of the Bank proposes to distribute a cash dividend of RMB10 (tax inclusive) per 100 shares to the ordinary shareholders whose names appeared on the register of members on the record date for equity distribution. The profit distribution plan will be submitted to the 2020 Annual General Meeting for approval. Further announcement will be made in respect of the date of the closure of register and the record date in relation to the proposed final dividend. 6. Forward-looking statements, including future plans, contained in this annual report do not constitute any actual commitments of the Bank to investors. Investors and related persons are advised to maintain sufficient risk awareness and understand the difference between plans, forecasts and commitments. 7. During the Reporting Period, the Bank was not aware of any major risks that would adversely affect the Bank’s future development strategies and business objectives. The principal risks exposed by the Bank in its operation and management as well as the corresponding measures adopted by the Bank are detailed in this annual report. For details, please refer to “Risk Management” and “Future Prospects” in the section headed “Management Discussion and Analysis” of this annual report. 8. The financial data and indicators set out in this annual report, save as stated otherwise, the monetary unit is denominated in RMB. Certain amounts and percentage figures set out in this annual report have been subject to rounding adjustments. Any discrepancy between the totals and sum of the amounts in any tables is due to such rounding. 9. This annual report is prepared in both Chinese and English. In the event of any discrepancy, the Chinese version shall prevail. 2 WEIHAI CITY COMMERCIAL BANK CO., LTD. ANNUAL REPORT 2020 CHAPTER 2 DEFINITIONS In this annual report, unless the context otherwise requires, the following expressions shall have the following meanings: “Articles of Association” the articles of association of the Bank, namely the Articles of Association of Weihai City Commercial Bank Co., Ltd., as may be amended, supplemented or otherwise modified from time to time “Bank”, “our Bank” or Weihai City Commercial Bank Co., Ltd., a joint stock limited company established “Weihai City Commercial Bank” in the PRC in July 1997 in accordance with the relevant PRC laws and regulations, and, if the context requires, includes its predecessors, branches and sub-branches, excluding its subsidiaries “Board” or “Board of Directors” the board of Directors of the Bank “Board of Supervisors” the board of Supervisors of the Bank “CBIRC” China Banking and Insurance Regulatory Commission (中國銀行保險監督管理委員會) “CBIRC Shandong Office” China Banking and Insurance Regulatory Commission Shandong Office “CNHTC” China National Heavy Duty Truck Group Co., Ltd. (中國重型汽車集團有限公司) “Corporate Governance Code” Corporate Governance Code under Appendix 14 to the Listing Rules “Directors” the directors of the Bank “Domestic Shares” the ordinary shares issued by the Bank, with a nominal value of RMB1.00 each, which are subscribed for or credited as paid up in Renminbi “Group”, “our Group”, the Bank and its subsidiaries and, where the context requires, includes its “we” or “us” predecessors, branches and sub-branches “H Shares” the ordinary shares issued by the Bank in Hong Kong, with a nominal value of RMB1.00 each, which are subscribed for and traded in Hong Kong dollars and listed and traded on the Hong Kong Stock Exchange “HKD” Hong Kong dollars, the lawful currency of Hong Kong ANNUAL REPORT 2020 WEIHAI CITY COMMERCIAL BANK CO., LTD. 3 Chapter 2 Definitions “Hong Kong” the Hong Kong Special Administrative Region of the PRC “Hong Kong Stock Exchange” The Stock Exchange of Hong Kong Limited “IFRS” International Financial Reporting Standards, International Accounting Standards, the related standards, amendments and explanatory announcement, as issued by the International Accounting Standards Board “Listing Date” October 12, 2020, being the listing date of the H Shares on the Hong Kong Stock Exchange “Listing Rules” the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited, as amended, supplemented or otherwise modified from time to time “PBOC” or “Central Bank” the People’s Bank of China “PRC” or “China” the People’s Republic of China “PRC Company Law” The Company Law of the People’s Republic of China “Qilu Transportation” Qilu Transportation Development Group Co., Ltd. (齊魯交通發展集團有限公司) “Reporting Period” the year ended December 31, 2020 “RMB” Renminbi, the lawful currency of the PRC “SFO” Securities and Future Ordinance (Chapter 571 of the Laws of Hong Kong), as amended, supplemented or otherwise modified from time to time “Shandong Hi-Speed” Shandong Hi-Speed Company Limited (山東高速股份有限公司) , a non-wholly owned subsidiary of Shandong Hi-Speed Group Company and a substantial Shareholder of the Bank “Shandong Hi-Speed Group Shandong Hi-Speed Group Co., Ltd. (山東高速集團有限公司), a controlling Company” Shareholder of the Bank 4 WEIHAI CITY COMMERCIAL BANK CO., LTD. ANNUAL REPORT 2020 Chapter 2 Definitions “Shandong SASAC” State-owned Assets Supervision and Administration Commission of Shandong Provincial People’s Government (山東省人民政府國有資產監督管理委員會) “Shareholder(s)” holder(s) of the Shares of the Bank “Share(s)” ordinary share(s) in the share capital of the Bank with a nominal value of RMB1.00 each “Subsidiary(ies)” has the meaning ascribed to it under the Listing Rules “Supervisors” the supervisors of the Bank “Tongda Financial Leasing” Shandong Tongda Financial Leasing Co., Ltd.