Agricultural Bank of China Limited

the Secretary of the Board of Directors of ABC. I'm very glad to invite the investors, analysts, as well as press friends to participate in the Agriculture Bank of China 2023 interim results announcement. I'd like to express my heartfelt thanks for your participation and express my appreciation for your long-term support. First of all, I'd like to give you introduction about the leaders of the agriculture back of China who honored this event with their presence. They are the vice chairman, executive director, president, Mr. Fu Wanjun.

Executive director, vice president, Mr. Zhang Xuguang. Executive Director, Vice President, Mr. Lin Li. Vice President, Mr. Liu Zhaowan. Vice President, Mr. Liu Hong. At the same time, I would like to introduce all of the directors.

executives who participate in this event online. We have a lot of friends coming to this announcement and we also have a lot of friends coming from all around the world who join us online. Therefore, in the questions and discussion, we will have on-site Q&A, video and internet Q&A. to make sure the investors, analysts, press friends, as well as the stakeholders can have a really comprehensive communication with the management team. And we will have a result announcement and QA session. In the first part, I would like to welcome Mr. Fu to give us an introduction about the interim results of the Agriculture Bank of China. Welcome. Distinguished investors, analysts, and dear friends from press, good afternoon. Welcome to the Agriculture Bank of China 2020 industry interim results announcement. Now, I'd like to, on behalf of the management team, to give you a brief introduction about the performance of the first half. The first half, we fully implement the spirit of the CPC and we follow the deployment of the CPC Central Committee and to fulfill our duty of supporting agriculture industry and received really good results. financial results. And our value creation capability are stable. In the first half, the net profit is about 133 billion, with a growth rate of 3.9%. Revenue is 365 billion, with 5.8%. Service charge and commission are 50.7 billion, with 2.5%. ROA is about 0.74%. ROE, 11.43%. And the second one, we have a really balanced development of the asset and debt. Overall asset is about 38 trillion yuan increased by 4.1 trillion yuan. Debt amount 21.8 trillion yuan increased by 2 trillion yuan. For the debt, it's about 35.3 trillion yuan increased by 4.1 trillion yuan. And the full caliber deposit amount is 33 trillion yuan increased by 3.8 trillion yuan. And the asset quality is really good. And the NPL ratio decreased to 1.35%. And also, we can see that the special provision coverage also improved very well, special pension loans. reduced by 2 BP and the overdue joint reduced by 9 BP and we have actually good asset level and among the backers 2023 ranking we are ranking number 3 and the capital adequacy rates are ranking the top and it's about 16.25% And while serving the agriculture industry, it's our duty and also our core business. In the first half, Agriculture Bank of China follows the beginner's mind and have deep concentration of agriculture market to push the revitalization of rural areas to help to improve the efficiency of development and to accelerate the development of agriculture and strong agriculture country and to provide support, financial support for the development of agriculture industry. We continue to increase the credit placement of agriculture rural areas and farmers and we can see that now we have increased by 1.02 trillion yuan in terms of county level loans and for the farmers loans, it's over 1 trillion yuan increased to 1.04 trillion yuan, increased by 2,261 billion yuan. For the agriculture-related zones, we actually increased by 5.9%, increased by 898 billion yuan, and now we increased nearly about 4 million users and customers. And also we cover the plantation and the seed industry to safeguard the food security. And for the food field loans, its amount is about $272 billion increased by 53%. For seed industry, the overall amount is about $47 billion increased by 67%. We also serve the real economy. This is our duty to perform. And in the first half, agricultural back of China followed the requirements of the macro regulation.