Traffic Bank A-share rights issue online roadshow excellent playback

The splendid World Expo--The Traffic Bank Co., Ltd., a share allotment Network Roadshow highlights guest list Traffic Bank Co., Ltd. Guest Nieusiming, deputy chairman of the Bank of Communications, executive Director, President Chan Wen Communications Bank Limited executive director, Deputy Governor Uyali Bank of Communications Limited shares Vice President of the company, chief Financial Officer Dujiangrong Communications Bank Limited board secretary, director of the Board of directors Linzhi Red Traffic Bank Limited, deputy general manager of budget and Finance, Fan Jianxue Communications Bank Limited, deputy general manager of budget and Finance, Bingbin Communications Bank Limited, general manager of Credit Management department Zhouxiao Traffic　　Co-sponsor (co-underwriter), managing director of Risk Management, Bank Co., Ltd. guest Zhao UBS Investment bank China chairman, UBS Securities Co., Ltd., head of investment banking, Rick Securities Co., Ltd., head of capital markets, Gao Yi Wenry Ban Securities Co., Ltd. Executive director of investment banking　　Li Minghanhai, president of Ningonghai Securities Co., Ltd. vice president of the Investment Banking Committee Kang Shingjun Haitong Securities Co., Ltd., general manager of the Investment Banking Department, distinguished guests Huang China International Finance Limited, executive director of investment Banking department, managing director Feng Yu Founder Securities Co., Ltd. Investment Banking Department executive Director of the deputy principal underwriter Lu Xiaofeng CITIC Securities Co., Ltd. Investment Banking department executive general manager Wang Luhua Thai Securities Co., Ltd. Investment Banking Enterprise Finance Department general manager of the Vice chairman of Communications Bank, executive Director, President Nieusiming Speech distinguished guests,　　Everybody investor, everybody netizen: Good afternoon! Welcome you to participate in the Bank of communications, A shares rights Network roadshow activities.　　Here, I was commissioned by Hu Huaibang Chairman, on behalf of the Bank of communications, to care about and support the Bank of communications reform and development of the vast number of investors, customers and friends from all walks of life to express my heartfelt thanks! Bank of Communications is China's first national joint-stock Commercial Bank, since the restructuring of the shoulders of the dual historical mission, is a century of national financial brand successor, but also the forerunner of China's financial system reform. In June 2005, the bank successfully listed in Hong Kong as the first mainland commercial bank to be listed overseas, and in May 2007, the bank successfully returned to its domestic capital market and listed on the Shanghai Stock Exchange. In recent years, the bank has established the strategic objective of "taking an internationalized, integrated road and building a first-class public shareholding bank group featuring wealth Management", which has yielded fruitful results. Internationalization, the bank "to the Asia-Pacific as the main body, Europe and the United States for the wings," the internationalization of the network structure is increasingly complete, international business to the overall business contribution to the steady increase. Integration, the bank in the continuous strengthening of commercial banks in the field of advantage, at the same time to increase the Non-bank financial business areas of infiltration, and steadily build a comprehensive operating platform, is the current domesticOne of the largest commercial banks with the highest degree of integrated operation.　　At the same time, the Bank fully utilizes the international, integrated group operating advantages, has now launched the "Yun-Wealth", "Ward wealth" and other types of wealth management brand, to provide customers with integrated management, a package of products, one-stop service integrated wealth management platform. Through unremitting efforts, the Bank's institutional mechanisms continue to improve, the development of the ability to further enhance the management of the quality of the development of a good momentum. At the end of 2009, the bank's asset scale exceeded 3.3 trillion yuan, net assets reached 163.8 billion yuan, and 2009, the bank realized net profit after tax 30 billion yuan. According to the bankers magazine rankings of the world's 1000 banks in 2009, the bank ranked 49th in the ranking of capital, pre-tax profit and total assets 11th, 16th and 56th; According to Forbes magazine's 2009 Global Top 2000 companies ranking, the bank ranked 143th　　, ranked 31st in the banking sector; in 2009, the bank was first among the top 50 of the world's Fortune 500 and banker's global bank. The sound development of Bank of communications business and the good results achieved in recent years can not be separated from the broad masses of customers, all types of investors and friends from all walks of life support, I am deeply grateful! The rights issue is the first time since the public listing of Bank of communications through the capital market to implement refinancing, the funds raised by this issue will be all used to replenish capital, improve the capital adequacy ratio, for the Bank of communications to further promote the "two-line" strategy to provide important support.　　We will strive to create more outstanding business performance, for investors to bring satisfactory returns! Through this opportunity to exchange the Internet, I hope that the vast number of investors for the development of Bank of communications actively build suggestions.　　We are sure to listen and improve carefully.　　Thank you!　　Mr. Zhao, chairman of UBS Investment Bank China, and director of investment banking Department of UBS Securities Co., Ltd. Distinguished guests, investors, you care and support Bank of communications friends: Hello!　　First of all, please allow me, on behalf of the joint sponsor of the share rights issue of Bank of Communications Limited, the joint underwriter, UBS Securities Co., Ltd. to all the guests and investors involved in the online roadshow today, express warm welcome and heartfelt thanks! As one of the oldest banks in China, Bank of Communications is the forerunner of Chinese banking reform. After more than 20 years, Bank of communications has developed into a prominent business advantage, governance structure, strict internal control, advanced corporate culture of China's fifth largest bank. Since the 2007 a-share listing, the Bank of communications has balanced the development speed, the operational efficiency and the risk control benign balance, the business scale growth rate is at the leading level in the large-scale commercial bank. Under the guidance of the development strategy of "two lines", under the support of the majority of shareholders and the community, the Bank of communications has gradually established a unique business development direction, internationalization, integrated management advantages continue to highlight, wealth management brand reputation is increasing, first-class public holdingThe image of the stock bank is deeply rooted.　　With the development of Shanghai's "two centers" and the Shanghai World Expo, Bank of communications will continue to create a new chapter. UBS Securities has witnessed the development of domestic capital market, and is well aware of the importance of capital market platform to the sustainable development of listed companies. The allotment is a strategic important step in the development of Bank of communications.　　We are convinced that the rights issue will provide a solid foundation for the rapid and steady development of Bank of communications in the future, and help to create a sustained, stable and generous investment return for shareholders.　　Finally, I wish this online roadshow a complete success!　　Thank you!　　Mr. Li Mingshan, President of Haitong Securities Co., Ltd. Distinguished guests, investors, ladies and gentlemen: Good afternoon! As the Bank of Communications, the joint sponsor of the share rights and the main underwriter, I am pleased to have this opportunity to work with the Bank of communications management and guests to share with you online.　　On behalf of Haitong Securities Co., Ltd., I would like to express our warm welcome to the investors who have participated in this online roadshow. The Bank of communications is one of the oldest banks in China, and it is the first national joint-stock Commercial bank and the first large-scale commercial bank to go to the capital market. Along the way, we have witnessed the reform, reconstruction and take-off of our banking financial system. As the first commercial bank in China to put forward the comprehensive road, the Bank of Communications has established a comprehensive financial institution which takes commercial bank as its core and a Non-bank financial platform, such as investment bank, insurance, fund management, trust and financial leasing.　　In recent years, the business development of rapid, scale and performance have achieved good results. The Bank of communications to adopt a rights issue to supplement the core capital, will improve the future capital adequacy ratio, with a solid capital base to support the rapid development of future business. As the participating organizations of Bank of Communications, Haitong Securities Co., Ltd. has witnessed the rapid development of Bank of communications and its achievements in the process of providing service to Bank of communications for a long time.　　As the sponsor and principal underwriter of the share rights issue, we believe that the allotment will further enhance the core competitiveness of Bank of communications, for the transport bank to achieve "internationalization, integration of the road, the construction of wealth management as the characteristics of the first-class public holding bank Group" strategic objectives to provide capital support, investors will bring long-term returns.　　Finally, I wish the Bank of communications a complete success of this issue!　　Thank you!　　Bank of Communications board Secretary, director of the Office of the Board of Directors Mr. Dujiangrong thank you distinguished guests, investors, you netizens: Bank of communications, a share rights online roadshow is coming to an end, thank you for your active participation! Although the time of the road show is short, but very valuable, investors on the sound development of Bank of communications and Reform and innovation put forward a lot of valuable advice and suggestions.　　Through this exchange, we strongly feel that you care and support the Bank of communications, more deeply realize the responsibility and mission. The development of Bank of communications is inseparable from the concern of all walks of life, the rights of this issue can not be separated from the support of the majority of old shareholders, I hope that shareholders actively participate in the rights issue.　　We believe that, with the support of the majority of shareholders, in the efforts of all staff of the Bank of Communications, the Bank of communications will be able to grasp the opportunities, the future, continue to create good performance feedback to the majority of shareholders and the community, the early realization of building a first-class public shareholding bank Group strategic objectives. Finally, on behalf of the Bank of communications, I would like to express my thanks to all of you! To the sponsor of the rights issue and the main underwriter-UBS Securities, Haitong Securities, as well as underwriters-CICC, credit founder, Citic Investment, Huatai Securities to extend my heartfelt thanks!　　We also thank the China Securities Network for providing us with the opportunity to communicate with investors online!　　Thank you!　　Issue question: What are the motivations for the bank's equity financing? Nieusiming: Capital supervision is the core of the supervision of commercial banks, in which the capital adequacy ratio is an important index to measure the safety and soundness of the banks, and it also embodies the ability of the banks to expand their business in meeting the regulatory requirements.　　Since the financial crisis, the regulatory authorities have further strengthened the supervision of the banking industry and put forward higher requirements for the capital adequacy ratio of domestic commercial banks. To meet the needs of regulatory requirements and business development needs, we need to enrich the capital.　　Under the regulation that the CBRC's long-term subordinated debt shall not exceed 25% of the core capital, we have reached the ceiling of the issuance of subordinated debt, and therefore can only replenish capital by supplementing the core capital. This allotment is the first capital market refinancing after our 2005 H-Shares IPO and 2007 a-share IPO. Through this allotment, our core capital will be effectively enriched, capital structure and quality improved to ensure that capital regulatory requirements are met to support the growth of our business; This financing also helps me to further consolidate the development base, enhance capital strength and resist the risk of the ability to better cope with the changing market environment, To occupy a favorable position in the industry competition, but also can support our future business development, enhance the continuous profitability, for shareholders to create more generous returns.　　Thank you! Q: In recent years, the share dividend ratio of the bank is lower than the other major state-owned banks, the dividend policy of the bank?　　Will the equity financing change the dividend policy of the bank? Uyali: Our bank always pays attention to the return of investors. Since the H-share IPO, our bank has maintained a sound dividend payout policy.　　2005-2009 Our cash dividend ratio was 38.53%, 36.51%, 35.83%, 34.48% and 32.58%, averaging 35.59%, above the industry average.　　In 2008 and 2009, we have implemented the medium-term dividend, which is unique in the domestic listed banks. Considering that our bank is currently in a period of rapid development, in order to balance the interests of shareholders and the development of the company's capital needs, we have moderately reduced the dividend payout rate in recent years, 2007-2009, our dividend payout rate of 35.83%, 34.48% and 32.58%, the average of 34.29%,This is consistent with the current regulatory direction. This financing will not affect the overall dividend policy of our bank. In the future, I will continue to maintain a sound dividend policy, the business performance of our Bank, the future development and business needs of three factors to ensure that the dividend payout rate at a reasonable level, so that shareholder interests and our bank of the demand for endogenous capital to achieve effective coordination; for the interim dividend, Need to combine my business period and future development needs and other factors, comprehensive consideration, under the authority of the shareholders meeting, the board of Directors to make a decision.　　Thank you!　　Q: Why do a rights issue when the stock market is depressed? Dujiangrong: The recent decline in domestic and overseas markets has a certain impact on investor confidence. In this case, we insist on the launch of the rights issue project, mainly based on the following considerations: this issue of rights financing is our long-term development of the established strategy, is the urgent need for my business development, to improve our core capital adequacy ratio, enhance the capital strength of our bank, strengthen the response to external environmental changes and resist the risk of the ability,　　Support for our business sustained, rapid and stable development is of great significance.　　Although the stock market is relatively depressed, but we have a full communication with the shareholders, the majority of shareholders are optimistic about the long-term development of our bank, very supportive of the rights issue, so the stock market downturn will not affect the success of the allotment. In view of the fact that the allotment is a refinancing way for the same allotment price and share allotment for all the old shareholders, fully embodies the fairness of all shareholders; In addition, despite the recent decline in our share price, but because the rights issue pricing is to take the market discount law, so for the long-term bullish on the bank of the old shareholders, can be a lower cost of investment in the bank,　　is a very rare investment opportunity. Given the overall downturn in domestic and foreign capital markets and the large financing projects being carried out by other banks in China, the market may continue to maintain its current volatility, and we believe this is the right time to start a rights issue.　　We are more satisfied with the current level of financing, I believe that under the shareholder's rational judgment and support, the allotment project will be a complete success. Q: Will the large shareholder of this allotment be subscribed in full?　　Does the first major shareholder's Treasury issue a full subscription letter of commitment?　　Dujiangrong: I have been with the Ministry of Finance, HSBC, Social security funds and other major shareholders on this issue has been a positive communication, the Ministry of Finance, HSBC, Social Security in the distribution of the rights of the support, all said that will participate in the full share of the rights of this right.　　We do not have a controlling shareholder and therefore do not need to issue a commitment letter in full subscription to the controlling shareholder in accordance with the relevant regulations of the SFC, but the Treasury has indicated that it will subscribe in full;　　Q: Please give a brief introduction of the timing and suspension arrangements of this share allotment.　　Zhao: June 9, 2010 for the shares of a share rights registration date, the day after the closing of the registration of all a-share shareholders have the right to participate in the issue of the rights issue. The time of payment for the share rights is June 10, 2010, 11th, 17th, 18Daily and 21st, the normal trading time, in the payment period will be published on a daily notice, overdue contributors as an automatic waiver rights rights. A shares of our bank will be suspended during the payment period.　　Due to the mid-dragon Boat Festival holiday during the payment period, investors are invited to focus on the rest arrangements for the SSE to avoid missing the payment period.　　June 22 will be a a-share rights net funds liquidation, the Bank of a shares on the day will be suspended.　　June 23 will be published a shares issue of the results of the announcement, the shares of a shares on the day will be a duplicate.　　After the issue is completed, the shares will be arranged as soon as possible to deal with the listing. For the specific timing of this issue, please refer to the issue of allotment announcement and online Roadshow announcement published on June 7, 2010.　　Thank you!　　Q: How can I purchase a share allotment? Li Mingshan: A share shareholder subscribe to the rights issue must fill out the "Bank allotment" subscription, the code is "760328", the allotment price of 4.50 yuan/share. The amount of allotment is limited to the cut-off stock registration date of the shareholding multiplied by 0.15 of the allocation ratio, the shareholders can through the trading system to view the "share allotment" negotiable securities balances. During the allotment period, the shareholder may declare several times, but the total amount of the allotment shall not exceed the quota of the shareholder.　　A shares of shareholders in the payment period (June 10, 2010, 11th, 17th, 18th and 21st) can be commissioned by the Internet, telephone Commission, sales Office site commissioned, and so on, specifically see the release of the rights issue in the announcement. Business Development Chapter Q: The Bank is the beginning of the integrated operation in China, and it has formed a comprehensive business pattern at present.　　What is the main direction of the future business development of the bank? Nieusiming: My bank's exploration of integrated management started earlier.　　At present, I line through the Silver Schroeder, the Banking Trust, bank Leasing, Bank International, Bank Insurance and other subsidiaries are involved in the fund investment business, trust business, financing leasing business, securities brokerage business, insurance business and other non-bank business areas, is one of the largest commercial banks with the highest degree of integrated operation in China. Expanding the business area through the non-banking subsidiaries is of great significance to the implementation of the overall strategy of our bank: it is beneficial to the diversification of our business, to enhance our core competitiveness, to enhance the brand value, to improve the level of return on capital, and to build a fully functional financial platform for our bank.　　2009, the subsidiary for our bank total contribution net profit 582 million yuan, is 2.5 times times last year. Integrated management is one of the "two-line" overall strategy part of the promotion of integration at the same time, I will continue to accelerate the pace of international development, to consolidate the "Asia as the main body, Europe and the United States as the two wings," the International Business Network; Fully use the International, integrated Group Management We are committed to establishing a target customer-oriented integrated management, a package of products, one-stop service of the integrated wealth management platform, formed with the characteristics of the wealth management well-known brands.　　Thank you! Q: As a global partner in the World Expo, what will be the benefits of the delivery line？　　Chan Wen: November 2006, I contracted the World Expo Bureau, exclusive access to overseas exhibitors, commercial operations and other business in China business qualification; Over 3 years, we have made full preparations for the network and facilities, personnel, system and mechanism to show the world-class financial service level of China's banking industry. As the sole commercial bank global partner of the 2010 Shanghai World Expo, through the Service Expo, our bank has comprehensively improved and upgraded the service function and level, consummates the system, innovates the product business, this will enable me to develop the future the development income to be many, at the same time more my line brings the brand influence the promotion, advances our line "two lines"　　The realization of the strategic goal. Q: How do you view the future development of China's banking industry?　　Will this year's listed banks ' intensive refinancing activities have a big impact on bank stocks?　　Chan Wen: After the financial crisis, China's banking industry is in an important period of development, opportunities and challenges coexist.　　With the further recovery of the national economy and the upgrading of industrial structure, the development of the Midwest has provided a broad business expansion space for commercial banks, and we are optimistic about the development of the banking industry. The supervision system has been perfected, which puts forward higher requirements for the management of banks.　　In the context of the expansion of business scale with the development of national economy, banks are required to enhance their capital strength in order to deal with risks.　　Competition in the banking industry has become more and more fierce, and has entered the all-round competition of talents, customers, management, innovation and service. In the 2009, the impact of credit expansion to stimulate economic growth, the high speed of credit consumption of banking capital is obvious. In the context of the economic recovery, regulators in 2010 may have stepped up regulation of such indicators as capital adequacy ratios.　　Commercial banks generally face the expansion of credit business and the tight environment of supervision policy, and there is a certain financing demand in commercial banks. Affected by the European economy and domestic macro-policy tightening and other factors, the stock market has fallen, the bank shares with the trend in the near future also fell; more intensive bank refinancing activities in the second half of the year will be a certain pressure on the capital market, in the short term may have some impact on the banking sector, but　　Since the development prospects and profitability of the banking sector remain bullish, financing activities are a positive factor. With the market and industry links, my bank recently a share price also has a certain amplitude adjustment.　　But my line of fundamentals is good, the future growth prospects are broad; In particular, this issue of the right to finance will continue to give impetus to our steady development, our bank's profitability will continue to improve, investment value will be reflected in the share price, I believe can continue to bring better returns to investors. Q: What are the advantages of the bank's wealth management business?　　What are the wealth management products of the bank?　　Uyali: Most of our network in the economically developed large and medium-sized cities, with customers and network advantages, while we have leasing, trust, funds, insurance and other licences, but also for my wealth management business provides products and services advantages. The main products and services of our wealth management business are: The company's business: We have "Yun-tong Wealth" as an overall asset Management Service brand and product service bodyDepartment, "Yun-Tong Wealth" brand under the "Yun-Tong Account-Cash management business", "supply Chain finance", "investment Banking", "syndicated loan business" and many other characteristics of the product.　　Personal business: Our bank launched the "Private Banking", "Ward Wealth", "silver Banking" and "Fast Money" brand, respectively, to serve the super high-end customers, high-end customers, midrange customers and assets of 150,000 yuan potential customers, forming a complete customer tiered service brand system.　　Subsidiary: The Bank of the Silver Schroeder, the Bank of China Letter, Silver International for all types of clients to provide funds, trusts, investment banks and securities, such as all-round, diversified asset management and wealth management services. Generally speaking: I line from the idea, the customer, the brand, products, channels, team six to promote the implementation of wealth management strategy, and initially formed the wealth management characteristics: First, the first to introduce customer layered concept, the formation of customer differentiated service concept; The second is to establish a "Yun-Tong Wealth", "Ward Wealth", "silver Banking"　　As a representative of the wealth management brand, wealth management Bank's awareness is expanding; third, to provide customers with differentiated services and products; Four is to continuously enrich the wealth management channels; Five is to speed up the construction of wealth management team.　　Q: The 2010 quarterly cost-income ratio of the bank was 24.72%, which was significantly lower than the data for the year 2009 and the first quarter of 2009. Lam to red: I line 2010 year first quarter cost income ratio is 24.72%, and 2009 whole year, 2009 first quarter cost income ratio is 38.87%, 32.79%, the decrease is mainly due to two factors: (1) 2010, I Line "down this" measures have achieved greater results, Through centralized procurement, compression of administrative and office costs, unified tendering and other management measures to achieve the cost structure adjustment; Through further upgrading of management, improve operational efficiency and optimize the allocation of costs in order to achieve a more benign "input-output" cycle; (2) the first quarter of 2010, Our cost-income ratio is more comparable to other large banks, so it is not entirely comparable to the data disclosed in our 2009 Annual Report and 2009 quarterly.　　However, compared with the 2009 annual (32.18%) and 2009 first quarter cost income ratio (26.71%), the cost-income ratio for the first quarter of the 2010-year period was still lower than that of the first quarterly cost-income ratio of the calculation. Q: Will the bank's core capital replenishment be adjusted to the existing business development plan?　　What is the expected growth rate of future bank loans?　　Fan Jianxue: Our company has always been adhering to the efficiency, quality, scale coordinated development of the business philosophy, pay attention to the use of capital efficiency, reasonable determination of business development objectives; Our bank regularly develops the medium-term business development plan, and the plan is implemented after the Board's deliberation and will not be adjusted arbitrarily. This issue of the right to raise the financing plan to fully consider the future of our business development needs, financing scale based on the loan growth assumptions taken into account the historical data and the future macroeconomicThe situation is expected to be relatively prudent and prudent. After the replenishment of the core capital, our business development strategy and direction will not change, the next few years will continue to promote the "two-line" strategy implementation, and steadily enhance the internationalization and integration of the development level, and focus on highlighting the characteristics of the group wealth management, for customers and shareholders to create greater value,　　Unswervingly towards the goal of building a first-class public-owned banking group. Q: Please introduce the "Green credit" policy of the bank.　　Thank you! Bin: Bank of Green Credit started in March 2008, all credit customers are divided into green, yellow, red Three colors, seven categories of environmental protection marking classification, the establishment of environmental protection policy one vote veto system, the whole process into customer selection, project review, credit decisions and after the loan management. It is one of the important measures to carry out the scientific development view and improve the credit management level, and has achieved obvious good results in the past two years. By the end of March this year, green credit balance accounted for more than 99.%, and green credit accounts accounted for 98%.　　Thank you!　　Q: The influence of real estate macro-control policy on Bank of communications? Zhouxiao: I Bank of real estate development loans accounted for a more reasonable level, the loan structure continued to optimize, the quality of personal mortgage loans to maintain a good level; Our bank has adopted a strict and prudent credit policy on real estate development loans and individual mortgage loans. Overall, the country's policy on real estate regulation will not have a significant impact on the quality of property development loans and mortgage loans. As of December 31, 2009, the real estate industry, the company's loan balance of 1,293.2.5 billion yuan, accounting for the total amount of 7.03% of our loans, non-performing loan rate of 2.24%, personal housing and shop loan balance 2,249 yuan, accounting for the total amount of our bank loans 7.5 billion,　　The non-performing loan rate is 0.65%. Risk control measures of real estate loan: (1) Real estate development loan: Adopt strict quantity and proportion control, implement the list-type management and classified authorization of real estate development enterprises, adopt strict selection criteria for real estate enterprises and real estate developers, and adopt strict procedures for the evaluation, distribution and post loan management of real estate development loans Request real estate development loan in strict accordance with the CBRC "three methods, a guideline" relevant requirements for the implementation of entrusted payment, the realization of the closed operation of funds, through the real estate development loans and personal mortgage loans organically linked to achieve the internal circulation of funds to reduce risk; (2) Personal mortgage Loan: Perfect business process and system construction,　　Establish and strengthen the mechanism of risk verification, real-time window guidance, adhere to the authenticity of loan use management, increase the work of the collection of debt, timely risk warning, and strengthen the loan business after the management and inspection efforts. Text finishing Yuyachen This edition Li Qui the organizer of Shanghai Securities News China Securities Network (www.cnstock.com)