Shanghai Pudong Development Bank (600000) Q1 2025 earnings summary

Executive summary

• Achieved steady growth in Q1 2025 with revenue of RMB 45,922 million, up 1.31% year-over-year; net profit attributable to shareholders reached RMB 17,598 million, up 1.02% year-over-year.

• Asset quality improved as non-performing loan (NPL) ratio decreased to 1.33%, and provision coverage rose to 186.99%.

• Total assets reached RMB 9,552,276 million, up 0.96% from year-end 2024; total deposits increased 6.30% to RMB 5,470,338 million.

• Strategic focus on digital transformation, green finance, and support for the real economy drove business structure optimization and risk control.

Financial highlights

• Operating income: RMB 45,922 million, up 1.31% year-over-year.

• Net profit attributable to shareholders: RMB 17,598 million, up 1.02% year-over-year.

• Basic EPS: RMB 0.57; ROE: 2.55%, down 0.13 percentage points year-over-year.

• Net cash flow from operating activities improved to -RMB 202,002 million from -RMB 452,630 million, mainly due to increased net inflow from repo business.

• NPL ratio: 1.33%, down 0.03 percentage points from year-end 2024; provision coverage: 186.99%.

Outlook and guidance

• Will continue to optimize business structure, enhance risk management, and support the real economy.

• Plans to further digital transformation, expand green and inclusive finance, and strengthen asset quality.