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.
*
Chongqing Rural Commercial Bank Co., Ltd.*
(a joint stock limited company incorporated in the People's Republic of China with limited liability)
(Stock Code: 3618)
2019 THIRD QUARTERLY FINANCIAL INFORMATION
This announcement is made by Chongqing Rural Commercial Bank Co., Ltd. 重慶農村商業銀行股份 有限公司* (the "Bank") pursuant to Rule 13.09(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") and the Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance (Cap. 571 of the Laws of Hong Kong).
References are made to the announcement of the Bank dated 28 April 2016, the supplemental circular dated 6 June 2016, the announcement dated 17 June 2016, the announcement dated 17 March 2017, the announcement dated 21 March 2017, the circular dated 12 April 2017, the announcement dated 5 May 2017, the announcement dated 12 March 2018, the announcement dated 13 March 2018, the announcement dated 29 March 2018, the circular dated 4 April 2018, the announcement dated 27 April 2018, the announcement dated 26 February 2019, the announcement dated 26 March 2019, the circular dated 4 April 2019, the announcement dated 26 April 2019, the announcement dated 15 August 2019, the announcement dated 6 September 2019, the announcement dated 10 September 2019 and the announcement dated 20 September 2019, in relation to the Bank's proposed A Share Offering (the "A Share Offering") and relevant matters. Unless otherwise defined, capitalized terms used in this announcement shall have the same meanings as defined in the above announcements and circulars.
The full text of the Listing Announcement in Chinese only in relation to the A Share Offering (the "A Share Listing Announcement") will be published by the Bank on the websites of the Shanghai Stock Exchange (www.sse.com.cn), the Hong Kong Exchanges and Clearing Limited (www.hkexnews.hk) and the Bank (www.cqrcb.com) on 28 October 2019.
- 1 -
The financial statements (the "Financial Statements") and its summary and the major operating conditions of the Group and the Bank (excluding its subsidiaries) for the nine months ended 30 September 2019 ("Reporting Period") are respectively set out in the sections headed "I. Key financial data and financial indicators from January to September 2019" and "II. Brief explanation of operating conditions and financial status" under "Section 5 Financial and Accounting Information" and the section headed "2019 third quarterly financial statements of Chongqing Rural Commercial Bank Co., Ltd." in the A Share Listing Announcement. The financial information contained in this announcement prepared in accordance with the Chinese Accounting Standards for Business Enterprises has not been audited.
Furthermore, according to the "Approval of the Issuance of Tier-2 Capital Bonds by Chongqing Rural
Commercial Bank Co., Ltd. from the CBRC Chongqing Regulatory Bureau" (Yu Yin Jian Fu [2016] No. 63) (《中國銀監會重慶監管局關於重慶農村商業銀行股份有限公司發行二級資本債券的批
覆》(渝銀監覆[2016]63號)), the "Approval of the Issuance of Tier-2 Capital Bonds by Chongqing
Rural Commercial Bank from the CBIRC Chongqing Office" (Yu Yin Bao Jian Fu [2019] No. 153) (《重慶銀保監局關於重慶農村商業銀行募集發行二級資本債券的批覆》(渝銀保監覆[2019]153
號)), "The Decision on Administrative Approval from the People's Bank of China" (Yin Shi Chang Xu Zhun Yu Zi [2016] No. 208, Yin Shi Chang Xu Zhun Yu Zi [2019] No. 79) (《中國人民銀行准予 行政許可決定書》(銀市場許准予字[2016]第208號、銀市場許准予字[2019]第79號)), the "Measures
for the Administration of the Issuance of Financial Bonds in the National Inter-bank Bond Market" (《全國銀行間債券市場金融債券發行管理辦法》) and the "Administrative Procedures for the Issuance of Financial Bonds in the National Inter-bank Bond Market" (《全國銀行間債券市場金融 債券發行管理操作規程》) and relevant regulatory requirements, the Bank shall disclose its unaudited
operating information, financial information and capital management information on a quarterly basis at the websites of China Money (http://www.chinamoney.com.cn) and China Bond (http://www. chinabond.com.cn).
The Group and the Bank's (excluding its subsidiaries) financial statements for the nine months ended 30 September 2019 and its summary prepared in accordance with the Chinese Accounting Standards for Business Enterprises, and the major operating conditions and capital management condition of the Group are as follows:
- 2 -
1. KEY FINANCIAL DATA AND FINANCIAL INDICATORS FROM JANUARY TO SEPTEMBER 2019
Increase/ | |||
decrease at | |||
the end of | |||
the Reporting | |||
Period as | |||
compared to | |||
the end of the | |||
30 September | 31 December | previous year | |
Items | 2019 | 2018 | (%) |
Total assets (RMB million) | 1,034,192 | 950,178 | 8.84 |
Owner's equity attributable to | |||
shareholders of the Issuer (RMB | |||
million) | 76,843 | 70,308 | 9.29 |
Net assets per share attributable to | |||
shareholders of the Issuer (RMB) | 7.68 | 7.03 | 9.25 |
- 3 -
Increase/ | |||
decrease in | |||
the Reporting | |||
Period as | |||
compared to | |||
the same period | |||
January to | January to | of the previous | |
Items | September 2019 | September 2018 | year (%) |
Total operating income (RMB million) | 19,991 | 19,746 | 1.24 |
Operating profit (RMB million) | 10,619 | 9,603 | 10.58 |
Gross profit (RMB million) | 10,626 | 9,622 | 10.43 |
Net profit attributable to shareholders of | |||
the Issuer (RMB million) | 8,628 | 7,335 | 17.63 |
Net profit after deduction of non- | |||
recurring profit or loss attributable | |||
to shareholders of the Issuer (RMB | |||
million) | 7,834 | 7,325 | 6.95 |
Basic earnings per share (RMB) | 0.86 | 0.73 | 17.81 |
Basic earnings per share after deduction | |||
of non-recurring profit or loss (RMB) | 0.78 | 0.73 | 6.85 |
Weighted average return on net assets | |||
(%) | 11.67 | 11.06 | 0.61 |
Weighted average return on net assets | |||
after deduction of non-recurring profit | |||
or loss (%) | 10.60 | 11.04 | -0.44 |
Net cash flows from operating activities | |||
(RMB million) | 33,377 | -89,561 | -137.27 |
Net cash flows from operating activities | |||
per share (RMB) | 3.34 | -8.96 | -137.28 |
Note: The two indicators, weighted average return on net assets and weighted average return on net assets after deduction of non-recurring profit or loss, represent the difference between the amounts of the increase/decrease in the Reporting Period as compared to the same period of the previous year.
- 4 -
-
BRIEF EXPLANATION OF OPERATING CONDITIONS AND FINANCIAL STATUS
The assets of the Bank were in good condition and the Bank maintained a steady growth trend. As of 30 September 2019, the total assets of the Bank was RMB1,034,192 million, representing an increase of 8.84% as compared to the end of the previous year, and the owner's equity attributable to shareholders of the Parent was RMB76,843 million, representing an increase of 9.29% as compared to the end of the previous year.
The major operating businesses of the Bank continued to develop steadily. From January to September 2019, the Bank recorded operating income of RMB19,991 million, representing an increase of 1.24% as compared to the same period of the previous year; from January to September 2019, the net profit after deduction of non-recurring profit or loss attributable to shareholders of the Parent was RMB7,834 million, representing an increase of 6.95% as compared to the same period of the previous year.
As of the date of signing the A Share Listing Announcement, the Bank's overall operation was in sound condition, its business model and the status of the operating income were stable, no material adverse change has occurred. With no major natural disaster and no significant fluctuation occurred in the capital market, the Bank expected that there would be no material change to the operating results of 2019 year on year. - CAPITAL MANAGEMENT CONDITION
As of the end of September 2019, capital adequacy ratio, tier 1 capital adequacy ratio and core tier 1 capital adequacy ratio of the Bank on a consolidated basis amounted to 13.65%, 11.18% and 11.17%, respectively.
- 5 -
4. | CONSOLIDATED BALANCE SHEET | |||
30 September | 31 December | |||
2019 | 2018 | |||
RMB'000 | RMB'000 | |||
ASSETS | ||||
Cash and deposits with central bank | 80,001,989 | 85,935,176 | ||
Deposits with banks | 25,669,541 | 32,208,145 | ||
Placement with banks and other financial institutions | 134,714,783 | 138,543,543 | ||
Derivative financial assets | 100,513 | 93,990 | ||
Financial assets held under resale agreements | 5,125,903 | 6,000,733 | ||
Loans and advances released | 404,690,156 | 364,026,148 | ||
Financial investments: | ||||
Held-for-trading financial assets | 20,736,423 | 15,094,518 | ||
Debt securities investments | 345,419,476 | 289,564,720 | ||
Other debt securities investments | 4,395,919 | 7,096,739 | ||
Other investments in equity instruments | 572,790 | 616,375 | ||
Fixed assets | 4,602,418 | 4,841,593 | ||
Right-of-use assets | 165,716 | N/A | ||
Intangible assets | 530,136 | 536,105 | ||
Deferred tax assets | 5,465,880 | 4,512,960 | ||
Other assets | 2,000,549 | 1,107,165 | ||
Total assets | 1,034,192,192 | 950,177,910 | ||
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4. | CONSOLIDATED BALANCE SHEET (continued) | ||||
30 September | 31 December | ||||
2019 | 2018 | ||||
RMB'000 | RMB'000 | ||||
LIABILITIES | |||||
Borrowings from central bank | 29,043,874 | 30,454,523 | |||
Deposits from banks and other financial institutions | 16,828,354 | 23,500,698 | |||
Placements from banks and other financial institutions | 28,361,203 | 28,873,761 | |||
Derivative financial liabilities | 103,392 | 83,907 | |||
Financial assets sold under repurchase agreements | 10,997,190 | 5,920,678 | |||
Deposits from customers | 676,855,763 | 616,166,192 | |||
Accrued staff costs | 4,641,121 | 5,625,314 | |||
Tax payable | 1,391,787 | 1,355,804 | |||
Provision | 431,417 | 307,619 | |||
Lease liabilities | 150,506 | N/A | |||
Bonds payable | 181,250,242 | 159,609,417 | |||
Other liabilities | 5,766,714 | 6,571,264 | |||
Total liabilities | 955,821,563 | 878,469,177 | |||
SHAREHOLDERS' EQUITY | |||||
Share capital | 10,000,000 | 10,000,000 | |||
Capital reserve | 11,897,678 | 11,897,678 | |||
Other comprehensive income | (353,385) | (255,095) | |||
Surplus reserve | 10,346,945 | 10,346,945 | |||
General risk reserve | 12,634,001 | 12,225,243 | |||
Unappropriated profit | 32,317,367 | 26,093,355 | |||
Interests of shareholders of the Parent | 76,842,606 | 70,308,126 | |||
Minority interests | 1,528,023 | 1,400,607 | |||
Total shareholders' equity | 78,370,629 | 71,708,733 | |||
Total liabilities and shareholders' equity | 1,034,192,192 | 950,177,910 | |||
- 7 -
5. | BALANCE SHEET | |||
30 September | 31 December | |||
2019 | 2018 | |||
RMB'000 | RMB'000 | |||
ASSETS | ||||
Cash and deposits with central bank | 79,808,022 | 85,725,888 | ||
Deposits with banks | 25,572,096 | 31,963,890 | ||
Placement with banks and other financial institutions | 138,860,108 | 141,969,601 | ||
Derivative financial assets | 100,513 | 93,990 | ||
Financial assets held under resale agreements | 5,125,903 | 6,000,733 | ||
Loans and advances released | 368,691,307 | 332,602,257 | ||
Financial investments: | ||||
Held-for-trading financial assets | 20,736,423 | 15,094,518 | ||
Debt securities investments | 345,521,331 | 289,564,720 | ||
Other debt securities investments | 4,395,919 | 7,096,739 | ||
Other investments in equity instruments | 572,790 | 616,375 | ||
Long-term equity investments | 3,013,379 | 3,013,379 | ||
Fixed assets | 4,448,034 | 4,680,971 | ||
Right-of-use assets | 147,520 | N/A | ||
Intangible assets | 528,209 | 534,422 | ||
Deferred tax assets | 5,323,174 | 4,371,153 | ||
Other assets | 1,910,006 | 965,369 | ||
Total assets | 1,004,754,734 | 924,294,005 | ||
- 8 -
5. | BALANCE SHEET (continued) | ||||
30 September | 31 December | ||||
2019 | 2018 | ||||
RMB'000 | RMB'000 | ||||
LIABILITIES | |||||
Borrowings from central bank | 28,944,522 | 30,275,613 | |||
Deposits from banks and other financial institutions | 17,425,140 | 24,175,249 | |||
Placements from banks and other financial institutions | 7,600,111 | 8,742,272 | |||
Derivative financial liabilities | 103,392 | 83,907 | |||
Financial assets sold under repurchase agreements | 10,997,190 | 5,920,678 | |||
Deposits from customers | 675,143,542 | 614,518,999 | |||
Accrued staff costs | 4,477,158 | 5,462,541 | |||
Tax payable | 1,367,033 | 1,302,103 | |||
Provision | 431,397 | 307,567 | |||
Lease liabilities | 135,116 | N/A | |||
Bonds payable | 179,318,270 | 159,609,417 | |||
Other liabilities | 2,709,009 | 4,062,723 | |||
Total liabilities | 928,651,880 | 854,461,069 | |||
SHAREHOLDERS' EQUITY | |||||
Share capital | 10,000,000 | 10,000,000 | |||
Capital reserve | 11,907,057 | 11,907,057 | |||
Other comprehensive income | (353,385) | (255,095) | |||
Surplus reserve | 10,346,945 | 10,346,945 | |||
General risk reserve | 12,231,636 | 11,855,025 | |||
Unappropriated profit | 31,970,601 | 25,979,004 | |||
Total shareholders' equity | 76,102,854 | 69,832,936 | |||
Total liabilities and shareholders' equity | 1,004,754,734 | 924,294,005 | |||
- 9 -
6. CONSOLIDATED INCOME STATEMENT
For the nine | For the nine | ||||
months ended | months ended | ||||
30 September | 30 September | ||||
2019 | 2018 | ||||
RMB'000 | RMB'000 | ||||
I. Operating income | 19,990,582 | 19,746,281 | |||
Net interest income | 17,307,199 | 14,488,757 | |||
Interest income | 33,566,389 | 29,199,978 | |||
Interest expense | (16,259,190) | (14,711,221) | |||
Net fee and commission income | 1,991,791 | 1,600,627 | |||
Fee and commission income | 2,068,355 | 1,676,545 | |||
Fee and commission expense | (76,564) | (75,918) | |||
Gains on investments | 715,480 | 2,517,872 | |||
Changes in fair value (loss)/gain | (67,736) | 910,555 | |||
Exchange (loss)/gain | 11,691 | 197,811 | |||
Gain from assets disposal | 7,589 | 6,449 | |||
Other business income | 24,568 | 24,210 | |||
II. Operating expenses | (9,371,551) | (10,143,222) | |||
Taxes and surcharges | (152,378) | (165,528) | |||
Business and administrative fee | (4,922,512) | (5,584,828) | |||
Credit impairment losses | (4,296,661) | (4,392,866) | |||
- 10 -
6. CONSOLIDATED INCOME STATEMENT (continued)
For the nine | For the nine | ||||
months ended | months ended | ||||
30 September | 30 September | ||||
2019 | 2018 | ||||
RMB'000 | RMB'000 | ||||
III. Operating profit | 10,619,031 | 9,603,059 | |||
Add: Non-operating income | 12,465 | 33,179 | |||
Less: Non-operating expenses | (5,316) | (14,007) | |||
IV. Total profit | 10,626,180 | 9,622,231 | |||
Less: Income tax expenses | (1,831,170) | (2,212,079) | |||
V. Net profit | 8,795,010 | 7,410,152 | |||
Net profit attributable to | |||||
Shareholders of the Parent: | 8,627,594 | 7,335,238 | |||
Minority shareholders: | 167,416 | 74,914 | |||
VI. Other comprehensive income | (93,114) | (1,199) | |||
VII. Total comprehensive income | 8,701,896 | 7,408,953 | |||
- Total comprehensive income attributable to | |||||
shareholders of the Parent | 8,534,480 | 7,334,039 | |||
- Total comprehensive income attributable to minority | |||||
shareholders | 167,416 | 74,914 | |||
VIII.Earnings per share | |||||
- Basic earnings per share (RMB) | 0.86 | 0.73 | |||
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7. | INCOME STATEMENT | ||||||
For the nine | For the nine | ||||||
months ended | months ended | ||||||
30 September | 30 September | ||||||
2019 | 2018 | ||||||
RMB'000 | RMB'000 | ||||||
I. Operating income | 19,042,771 | 19,171,710 | |||||
Net interest income | 16,275,639 | 13,865,562 | |||||
Interest income | 31,811,165 | 27,930,564 | |||||
Interest expense | (15,535,526) | (14,065,002) | |||||
Net fee and commission income | 1,993,064 | 1,600,431 | |||||
Fee and commission income | 2,067,957 | 1,675,961 | |||||
Fee and commission expense | (74,893) | (75,530) | |||||
Gains on investments | 800,480 | 2,568,872 | |||||
Changes in fair value (loss)/gain | (67,736) | 910,555 | |||||
Exchange (loss)/gain | 11,691 | 197,811 | |||||
Gain from assets disposal | 7,384 | 6,448 | |||||
Other business income | 22,249 | 22,031 | |||||
II. Operating expenses | (8,922,726) | (9,803,821) | |||||
Taxes and surcharges | (145,972) | (163,160) | |||||
Business and administrative fee | (4,785,113) | (5,452,354) | |||||
Credit impairment losses | (3,991,641) | (4,188,307) | |||||
III. Operating profit | 10,120,045 | 9,367,889 | |||||
Add: Non-operating income | 10,730 | 31,539 | |||||
Less: Non-operating expenses | (4,792) | (13,445) | |||||
IV. Total profit | 10,125,983 | 9,385,983 | |||||
Less: Income tax expenses | (1,762,951) | (2,148,052) | |||||
V. Net profit | 8,363,032 | 7,237,931 | |||||
VI. Other comprehensive income | (93,114) | (1,199) | |||||
VII. Total comprehensive income | 8,269,918 | 7,236,732 | |||||
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8. CONSOLIDATED STATEMENT OF CASH FLOWS
For the nine | For the nine | |||||
months ended 30 | months ended 30 | |||||
September 2019 | September 2018 | |||||
RMB'000 | RMB'000 | |||||
I. | Cash flows from operating activities | |||||
Net increase in borrowings from central bank | - | 1,804,500 | ||||
Net increase in deposits from customers and deposits from banks | 52,898,438 | - | ||||
Net Increase in placements from banks and other financial institutions | - | 737,711 | ||||
Net decrease in financial assets held for transaction purposes | - | 221,053 | ||||
Net increase in financial assets sold under repurchase agreements | 4,768,805 | - | ||||
Net decrease in deposits with central bank and banks | 14,093,188 | 9,847,122 | ||||
Interest, fee and commission income received | 26,432,143 | 23,435,038 | ||||
Other cash received related to operating activities | 1,152,498 | 3,303,775 | ||||
Sub-total of cash inflows from operating activities | 99,345,072 | 39,349,199 | ||||
Net decrease in borrowings from central bank | (1,186,069) | - | ||||
Net decrease in placements from banks and other financial institutions | (687,378) | - | ||||
Net increase in placements with banks and other financial institutions | (1,450,151) | (50,734,624) | ||||
Net increase in financial assets held for transaction purposes | (892,990) | - | ||||
Net decrease in deposits from customers and deposits from banks and | ||||||
other financial institutions | - | (15,696,160) | ||||
Net increase in loans and advances from customers | (43,118,518) | (34,584,283) | ||||
Net decrease in financial assets sold under repurchase agreements | - | (5,901,239) | ||||
Interest, fee and commission income paid | (7,085,906) | (11,736,473) | ||||
Cash paid to staff and paid for staff | (4,139,072) | (3,811,807) | ||||
Taxes paid | (3,891,137) | (3,990,302) | ||||
Other cash paid related to operating activities | (3,516,916) | (2,454,858) | ||||
Sub-total of cash outflows from operating activities | (65,968,137) | (128,909,746) | ||||
Net cash flows from/(used in) operating activities | 33,376,935 | (89,560,547) | ||||
- 13 -
8. CONSOLIDATED STATEMENT OF CASH FLOWS (continued)
For the nine | For the nine | ||||
months ended 30 | months ended 30 | ||||
September 2019 | September 2018 | ||||
RMB'000 | RMB'000 | ||||
II. | Cash flows from investing activities | ||||
Recovery of cash received from investments | 100,020,243 | 215,914,474 | |||
Net cash received from gains on investment obtained | 9,837,284 | 7,472,215 | |||
Net cash received from the disposal of fixed assets, intangible assets | |||||
and other long-term assets | 11,101 | 19,309 | |||
Sub-total of cash inflows from investing activities | 109,868,628 | 223,405,998 | |||
Cash paid for investments | (158,383,451) | (190,388,291) | |||
Cash paid on purchase of fixed assets, intangible assets and other long- | |||||
term assets | (287,005) | (250,694) | |||
Sub-total of cash outflows from investing activities | (158,670,456) | (190,638,985) | |||
Net cash flows (used in)/from investing activities | (48,801,828) | 32,767,013 | |||
- Cash flows from financing activities
Cash received from bonds issued | 181,333,870 | 114,190,847 | |||||
Sub-total of cash inflows from financing activities | 181,333,870 | 114,190,847 | |||||
Cash paid for distribution of dividends, profits or interest | (6,135,156) | (2,328,212) | |||||
Cash paid for redemption of bonds issued | (163,410,000) | (94,320,000) | |||||
Cash paid for acquire minority interests of subsidiaries | - | (264,650) | |||||
Distribution of dividends to minority shareholders of non-controlling | |||||||
equity subsidiaries | (40,000) | (24,000) | |||||
Other cash paid related to financing activities | (52,644) | - | |||||
Sub-total of cash outflows from financing activities | (169,637,800) | (96,936,862) | |||||
Net cash flows from financing activities | 11,696,070 | 17,253,985 | |||||
IV. | Effect of foreign exchange rate changes on cash and cash | ||||||
equivalents | 14,313 | 35,365 | |||||
V. | Net changes in cash and cash equivalents | (3,714,510) | (39,504,184) | ||||
Add: Balance of cash and cash equivalents at the beginning of the | |||||||
period | 34,637,437 | 48,608,610 | |||||
VI. | Balance of cash and cash equivalents at the end of the period | 30,922,927 | 9,104,426 | ||||
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9. STATEMENT OF CASH FLOWS
For the nine | For the nine | |||||
months ended | months ended | |||||
30 September | 30 September | |||||
2019 | 2018 | |||||
RMB'000 | RMB'000 | |||||
I. | Cash flows from operating activities | |||||
Net increase in borrowings from central bank | - | 1,834,500 | ||||
Net increase in deposits from customers and deposits | ||||||
from banks | 52,758,821 | - | ||||
Net increase in placements from banks and other | ||||||
financial institutions | - | - | ||||
Net decrease in financial assets held for | ||||||
transaction purposes | - | 221,053 | ||||
Net increase in financial assets sold under repurchase | ||||||
agreements | 5,081,810 | - | ||||
Net decrease in deposits with central bank and banks | 13,914,794 | 9,945,549 | ||||
Interest, fee and commission income received | 24,525,912 | 22,121,189 | ||||
Other cash received related to operating activities | 708,767 | 2,732,494 | ||||
Sub-total of cash inflows from operating activities | 96,990,104 | 36,854,785 | ||||
Net decrease in borrowings from central bank | (1,106,229) | - | ||||
Net decrease in placements from banks and other | ||||||
financial institutions | (1,443,495) | (3,192,421) | ||||
Net increase in placements with banks and other | ||||||
financial institutions | (2,069,006) | (51,804,624) | ||||
Net increase in financial assets held for transaction | ||||||
purposes | (892,990) | - | ||||
Net decrease in deposits from customers and deposits | ||||||
from banks and other financial institutions | - | (15,708,910) | ||||
Net increase in loans and advances from customers | (38,394,250) | (29,394,775) | ||||
Net decrease in financial assets sold under repurchase | ||||||
agreements | - | (5,901,239) | ||||
Interest, fee and commission income paid | (6,550,843) | (11,097,238) | ||||
Cash paid to staff and paid for staff | (4,048,725) | (3,738,517) | ||||
Taxes paid | (3,750,410) | (3,938,020) | ||||
Other cash paid related to operating activities | (3,476,124) | (2,277,855) | ||||
Sub-total of cash outflows from operating activities | (61,732,072) | (127,053,599) | ||||
Net cash flows from/(used in) operating activities | 35,258,032 | (90,198,814) | ||||
- 15 -
9. STATEMENT OF CASH FLOWS (continued)
For the nine | For the nine | ||||||
months ended | months ended | ||||||
30 September | 30 September | ||||||
2019 | 2018 | ||||||
RMB'000 | RMB'000 | ||||||
II. | Cash flows from investing activities | ||||||
Recovery of cash received from investments | 100,105,243 | 215,989,388 | |||||
Net cash received from gains on investment obtained | 9,839,163 | 7,472,216 | |||||
Net cash received from the disposal of fixed assets, | |||||||
intangible assets and other long-term assets | 10,786 | 18,482 | |||||
Sub-total of cash inflows from investing activities | 109,955,192 | 223,480,086 | |||||
Cash paid for investments | (158,485,330) | (190,652,941) | |||||
Cash paid on purchase of fixed assets, intangible assets | |||||||
and other long-term assets | (283,166) | (247,490) | |||||
Sub-total of cash outflows from investing activities | (158,768,496) | (190,900,431) | |||||
Net cash flows (used in)/from investing activities | (48,813,304) | 32,579,655 | |||||
III. | Cash flows from financing activities | ||||||
Cash received from bonds issued | 179,401,950 | 114,190,847 | |||||
Sub-total of cash inflows from financing activities | 179,401,950 | 114,190,847 | |||||
Cash paid for distribution of dividends, profits or | |||||||
interest | (6,135,156) | (2,328,212) | |||||
Cash paid for redemption of bonds issued | (163,410,000) | (94,320,000) | |||||
Other cash paid related to financing activities | (47,419) | - | |||||
Sub-total of cash outflows from financing activities | (169,592,575) | (96,648,212) | |||||
Net cash flows from financing activities | 9,809,375 | 17,542,635 | |||||
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9. STATEMENT OF CASH FLOWS (continued)
For the nine | For the nine | ||||
months ended | months ended | ||||
30 September | 30 September | ||||
2019 | 2018 | ||||
RMB'000 | RMB'000 | ||||
IV. | Effect of foreign exchange rate changes on cash and | ||||
cash equivalents | 14,313 | 35,366 | |||
V. | Net changes in cash and cash equivalents | (3,731,584) | (40,041,158) | ||
Add: Balance of cash and cash equivalents at the | |||||
beginning of the period | 34,322,039 | 48,281,318 | |||
VI. | Balance of cash and cash equivalents at the end of | ||||
the period | 30,590,455 | 8,240,160 | |||
The above English version of the Financial Statements and its summary and the major operating conditions of the Bank is an unofficial translation of its Chinese version. In case of any discrepancies, the Chinese version shall prevail.
For more details of the A Share Offering, please refer to the A Share Listing Announcement which will be published by the Bank on the website of the Shanghai Stock Exchange (www.sse.com.cn) on 28 October 2019.
The Bank will keep the Shareholders and potential investors informed of any further development in relation to the A Share Offering when appropriate.
For and on behalf of the Board
Chongqing Rural Commercial Bank Co., Ltd.*
重慶農村商業銀行股份有限公司*
Liu Jianzhong
Chairman and Executive Director
Chongqing, the PRC, 25 October 2019
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As at the date of this announcement, the executive directors of the Bank are Mr. Liu Jianzhong, Mr. Xie Wenhui and Mr. Zhang Peizong; the non-executive directors of the Bank are Mr. Zhang Peng, Ms. Chen Xiaoyan, Mr. Luo Yuxing and Mr. Wen Honghai; and the independent non-executive directors of the Bank are Mr. Yuan Zengting, Mr. Cao Guohua, Mr. Song Qinghua, Mr. Zhang Qiaoyun and Mr. Lee Ming Hau.
- The Bank holds a financial licence number B0335H250000001 approved by the regulatory authority of the banking industry of the PRC and was authorised by the Administration for Market Regulation of Chongqing 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.
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Chongqing Rural Commercial Bank Co. Ltd. published this content on 28 October 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 October 2019 23:46:02 UTC