China Cinda announces 2023 annual operating results

Comprehensive operating results remained robust for China Cinda Asset Management Co Ltd in 2023, according to the annual operating results it released on Tuesday.

At the end of the reporting period, the total assets of China Cinda reached approximately 1.6 trillion yuan ($220 billion), and equity attributable to equity holders of the company was approximately 192.83 billion yuan, with an increase of 2.46 percent over the end of the previous year.

The net profit attributable to equity holders was 5.82 billion yuan, taking a leading position in the industry. The comprehensive income attributable to equity holders of the company was 7.07 billion yuan, increasing 125.1 percent year-on-year.

The dominant position of its core business continues to be consolidated. The total asset of the non-performing asset management sector was 913.55 billion yuan, with a total income of 44.4 billion yuan, respectively accounting for 57.3 percent and 58.3 percent of the company's total assets and total income.

The company's risk resistance capacity continued to strengthen, as seen in the core Tier-I capital adequacy ratio, Tier I capital adequacy ratio and capital adequacy ratio, which were 11.78 percent, 16.49 percent and 18.02 percent respectively, up 0.8, 1.01 and 0.77 percentage points, respectively, from the end of the previous year, maintaining a reasonable security margin.

The capital adequacy ratio, also known as capital to risk-weighted assets ratio, measures financial strength via dividing capital by risk-weighted assets. Tier-I capital adequacy ratio compares equity capital with total risk-weighted assets.