“A year’s plan lies in spring.”
On the first anniversary of its return to the A-share market, Bank Of Chongqing Co.Ltd(601963) ( Bank Of Chongqing Co.Ltd(601963) . SH) received many “spring gifts”: on February 28, Bank Of Chongqing Co.Ltd(601963) announced that its 13 billion yuan convertible bonds were approved by the issuance Audit Committee of China Securities Commission on the same day; On the same day, Bank Of Chongqing Co.Ltd(601963) also released the performance express for 2021, which revealed that the performance in 2021 continued to grow steadily, realizing an annual operating revenue of 14.515 billion yuan, a year-on-year increase of 11.24%, and a total profit of 6.092 billion yuan, a year-on-year increase of 6.24%.
According to the analysis of insiders, the approval of the convertible bond application indicates that the Bank Of Chongqing Co.Ltd(601963) convertible bond project has entered the issuance review stage, which means that Bank Of Chongqing Co.Ltd(601963) is expected to improve the capital adequacy ratio, capital strength and risk resistance, so as to enhance the ability to serve the real economy and lay a more solid foundation for the promotion of various innovative businesses. The increase of shareholders and senior executives shows their confidence in Bank Of Chongqing Co.Ltd(601963) future development prospects and recognition of growth value.
disclosure performance express
revenue increased by 11.24% year on year
On February 5 last year, Bank Of Chongqing Co.Ltd(601963) successfully returned to A-Shares and became the first “a + H” listed city commercial bank in Western China. On February 28 this year, Bank Of Chongqing Co.Ltd(601963) handed over the report card one year after returning to a shares. Our reporter learned that among the 42 A-share listed banks, Bank Of Chongqing Co.Ltd(601963) is the 21st bank to disclose the performance express.
Bank Of Chongqing Co.Ltd(601963) disclosed in the performance express that in 2021, the bank actively responded to changes in the business environment and maintained a good trend of steady development in all businesses. The annual operating revenue was 14.515 billion yuan, a year-on-year increase of 1.467 billion yuan, an increase of 11.24%; The total profit was 6.092 billion yuan, a year-on-year increase of 358 million yuan, an increase of 6.24%; The net profit attributable to shareholders of listed companies was 4.664 billion yuan, an increase of 240 million yuan or 5.42% year-on-year.
As of December 31, 2021, Bank Of Chongqing Co.Ltd(601963) total assets reached 618954 million yuan, an increase of 57.313 billion yuan or 10.20% over the end of the previous year; Loans and advances totaled 318062 billion yuan, an increase of 34.835 billion yuan or 12.30% over the end of the previous year; Customer deposits were 338695 billion yuan, an increase of 24.195 billion yuan or 7.69% over the end of the previous year; The non-performing loan ratio was 1.30%, 0.6 percentage points lower than the national average level of urban commercial banks in the same period; The provision coverage rate was 274.01%, 85.3 percentage points higher than the national average level of urban commercial banks in the same period.
In fact, Bank Of Chongqing Co.Ltd(601963) in the third quarter of 2021, the total assets have reached 600 billion yuan.
According to the data of the third quarterly report of Bank Of Chongqing Co.Ltd(601963) 2021, as of the end of September 2021, Bank Of Chongqing Co.Ltd(601963) assets totaled 612.7 billion yuan, an increase of 9.1% over the beginning of the year, total loans totaled 314.5 billion yuan and deposit balance 336.6 billion yuan; In the first three quarters of 2021, the operating revenue reached 11.2 billion yuan, an increase of 1.301 billion yuan or 13.2% over the same period of last year; The net profit was 4.216 billion yuan, an increase of 212 million yuan or 5.3% over the same period last year; The non-performing loan ratio was 1.33% and the provision coverage ratio was 271.67%, both better than the national average level of the banking industry.
According to Bank Of Chongqing Co.Ltd(601963) official website, Bank Of Chongqing Co.Ltd(601963) was founded in 1996. It is the earliest local state-owned joint-stock commercial bank established in the West and the upper reaches of the Yangtze River. On November 6, 2013, it was listed on the Hong Kong stock exchange, becoming the first urban commercial bank in China to be successfully listed on the main board of the Hong Kong stock exchange. On February 5, 2021, Bank Of Chongqing Co.Ltd(601963) returned to A-Shares and became the first “a + H” listed city commercial bank in the West.
Bank Of Chongqing Co.Ltd(601963) since its establishment, it has always adhered to the original intention of “serving the local economy, small and micro enterprises and urban and rural residents”, actively grasped the historical opportunities brought by the social and economic development of Chongqing and the western region, and took advantage of the advantages of regional social and economic development to forge ahead, scientific management and steady operation, realizing the coordinated development of scale, quality and efficiency.
At present, Bank Of Chongqing Co.Ltd(601963) is fully integrated into the national strategies such as the western development in the new era and the construction of Chengdu Chongqing double city economic circle, and actively supports the projects guided by national strategic policies. The bank has reached strategic cooperation with Chongqing development and Reform Commission and plans to provide 100 billion funds to support the construction of Chengdu Chongqing double city economic circle within five years.
In recent years, the brand image of Bank Of Chongqing Co.Ltd(601963) enterprise has been comprehensively improved, and it has been ranked among the top 300 banks in the world for six consecutive years. In 2021, it ranked 206 among the top 500 global banking brands, with an increase of 53. The growth rate ranks second among the banks on the national list. It has been rated “BBB – / stable / A-3” by standard & Poor’s for five consecutive years, and is in the leading level among China city commercial banks. It was rated as “national civilized unit” by the Central Civilization Commission. Retail business, scientific and technological innovation, data governance and other fields have won many awards.
13 billion convertible bonds meeting
core tier 1 capital will be replenished
On the same day of the announcement of the 2021 performance express, Bank Of Chongqing Co.Ltd(601963) also pleased to mention the good news that the 13 billion yuan convertible bond was approved by the CSRC.
Our reporter learned that the application for Bank Of Chongqing Co.Ltd(601963) public offering of A-share convertible bonds was approved without additional problems at the 22nd Meeting of the issuance examination committee of the 18th session of the CSRC in 2022 held on February 28.
Combing the timeline of Bank Of Chongqing Co.Ltd(601963) relevant convertible bond projects, it took exactly one year from the initial proposal to the approval of the CSRC.
On March 30, 2021, Bank Of Chongqing Co.Ltd(601963) issued the announcement on the plan for public issuance of A-share convertible corporate bonds, which planned to “issue corporate bonds convertible into A-share shares with a total amount of no more than RMB 13 billion (including RMB 13 billion)”, and its convertible bond project was officially launched.
In March and may 2021, the project was reviewed and approved by Bank Of Chongqing Co.Ltd(601963) board of directors and general meeting of shareholders respectively, and announced on September 27, 2021 that it was approved by Chongqing banking and Insurance Regulatory Bureau, “Upon review, Chongqing regulatory bureau of Bank Of China Limited(601988) Insurance Regulatory Commission agreed that the bank would publicly issue convertible corporate bonds of no more than 13 billion yuan (including 13 billion yuan) in the domestic A-share securities market and include them in the core Tier-1 capital in accordance with relevant regulatory requirements after share conversion”.
October 13, 2021, Bank Of Chongqing Co.Ltd(601963) announced that “we have received the application form for administrative license issued by the China Securities Regulatory Commission (acceptance No.: 212627). The CSRC has examined the application materials submitted by the bank for public issuance of A-share convertible corporate bonds according to law, considered that the application materials are complete, and decided to accept the application for administrative license”.
On October 22, 2021, Bank Of Chongqing Co.Ltd(601963) received the notice of the CSRC on the first feedback on the examination of administrative licensing projects, and submitted the feedback reply materials to the CSRC on November 18, 2021. It was approved by the preliminary examination committee of the CSRC on January 4, 2022 and finally by the issuance examination committee of the CSRC on February 28, 2022.
Insiders believe that the successful issuance of Bank Of Chongqing Co.Ltd(601963) convertible bonds will confirm the steady operation and continuous development of Bank Of Chongqing Co.Ltd(601963) convertible bonds. If the issuance is successful, the raised funds will enrich its core Tier-1 capital, which will greatly promote its capital strength and sustainable development, effectively support Bank Of Chongqing Co.Ltd(601963) future business development, and further enhance its ability to serve local economic and social development.
Bank Of Chongqing Co.Ltd(601963) 2021 third quarter data show that by the end of September 2021, Bank Of Chongqing Co.Ltd(601963) core tier 1 capital adequacy ratio was 9.25%, tier 1 capital adequacy ratio was 10.34%, and capital adequacy ratio was 12.88%, an increase of 86, 77 and 34 BPS respectively over the end of the previous year.
The full name of convertible bonds is convertible corporate bonds, which refers to the corporate bonds issued by the issuer in accordance with the law and procedures and can be converted into shares within a certain period of time according to the agreed conditions. From the perspective of the market, convertible bonds have both equity and debt nature. When the stock market goes down, they have the support of the debt bottom and have strong anti falling ability; When the stock market is strong, it has strong ability to follow the rise, so it is popular in the market.
