Financial Performance - Operating revenue for 2019 was RMB 344,134,000, an increase of 4.4% from RMB 330,229,000 in 2018[24] - Profit attributable to equity holders was RMB 50,429,000, a decrease of 17.2% from RMB 60,996,000 in 2018[24] - Total assets reached RMB 3,001,631,000, up from RMB 2,800,226,000 in 2018, representing a growth of 7.2%[24] - The company reported operating revenue of RMB 344,134 thousand for the year ended December 31, 2019, an increase from RMB 330,229 thousand in 2018, representing a growth of approximately 2.73%[65] - The net profit attributable to equity holders was RMB 50,429 thousand, down from RMB 60,996 thousand in the previous year, indicating a decrease of about 17.2%[65] - The company reported a significant increase in revenue, achieving a total of $1.5 billion, representing a 20% year-over-year growth[135] - The company provided an optimistic outlook for the next quarter, projecting a revenue increase of 25% to $1.875 billion[135] Assets and Liabilities - Bank deposits and cash on hand increased to RMB 1,047,858,000 from RMB 810,138,000, a rise of 29.2%[24] - Loans granted to customers decreased to RMB 1,703,704,000 from RMB 1,738,283,000, a decline of 2.0%[24] - Total liabilities increased to RMB 1,053,187,000 from RMB 903,198,000, reflecting a growth of 16.6%[24] - Net assets amounted to RMB 1,948,444,000, an increase from RMB 1,897,028,000 in 2018, showing a growth of 2.7%[24] - The total equity as of December 31, 2019, was RMB 1,948.4 million, an increase of RMB 51.4 million or 2.7% from December 31, 2018[95] - The capital-to-debt ratio as of December 31, 2019, was 29.5%, compared to 27.4% in 2018[96] Loan Activities - The total amount of new mortgage loans granted in 2019 was RMB 329 million for real estate and RMB 66 million for movable property, showing a decrease of 17.4% and 35.8% respectively compared to 2018[45] - The total amount of new non-mortgage loans granted in 2019 was RMB 922 million, which is a slight increase of 1% from RMB 913 million in 2018[45] - The total amount of new loans granted by the Huifangrongtong fund in 2019 was RMB 2,620 million, representing a 18.6% increase from RMB 2,210 million in 2018[50] - The total number of new loans granted by the Dongshan Microfinance in 2019 was 623, down from 962 in 2018, while the total loan amount decreased to RMB 941 million from RMB 1,067 million[53] - The total loan balance for newly added litigated loans as of December 31, 2019, was RMB 167,959 thousand, with a litigated loan balance accounting for 28.1% of the total loan balance[87] - The company’s total loan balance for mortgage loans was RMB 263,784 thousand and for non-mortgage loans was RMB 202,260 thousand as of December 31, 2019[86] Business Strategy and Development - The company is focusing on diversified financial services for SMEs and individuals, leveraging fintech and big data[34] - In 2020, the company aims to enhance market competitiveness and explore opportunities in emerging financial sectors[35] - The company established four major business divisions in 2019, focusing on inclusive finance, technology finance, online lending intermediary, and insurance agency[40] - The company aims to become a leading provider of inclusive financial services in China, with operations expanding to key cities including Suzhou, Chengdu, Wuhan, and Hefei[44] - The company is committed to exploring business models in consumer finance and supply chain finance while maintaining traditional accounts receivable factoring operations[121] Risk Management and Compliance - The company emphasizes risk control in its inclusive finance division, which includes mortgage and non-mortgage loan products aimed at small and medium enterprises[44] - The Technology Finance Division is focused on developing a robust big data risk control system to enhance market competitiveness and is seeking to introduce state-owned capital into technology factoring business[121] - The company is focused on risk management and compliance in its financial services, ensuring sustainable growth and regulatory adherence[122] - The company has established compliance procedures to ensure adherence to laws and regulations affecting its operations[171] Management and Governance - The management team consists of nine directors, including two executive directors, four non-executive directors, and three independent non-executive directors[125] - The Chief Financial Officer has over 20 years of auditing and accounting experience, enhancing the company's financial management capabilities[127] - The company emphasizes the importance of strategic investments and overall management in its operations, led by experienced executives[128] - The company has established an Audit Committee to assist the board in reviewing financial information, risk management, and internal controls[154] - The Compensation Committee is responsible for reviewing the remuneration policies for directors and senior management, ensuring transparency in the compensation process[155] - The Nomination Committee evaluates the composition of the board and provides recommendations for director appointments[156] Employee and Operational Metrics - As of December 31, 2019, the company had 161 full-time employees, a decrease of 7 from the previous year, with total employee compensation and benefits expenses of approximately RMB 38,851 thousand[114] - The company’s administrative expenses were reduced to RMB 70,300 thousand in 2019 from RMB 73,721 thousand in 2018, showing effective cost control measures[65] Future Outlook and Investments - The company plans to propose a dividend of HKD 0.0130 per share, totaling HKD 14.1 million (approximately RMB 12.7 million) for the year ended December 31, 2019[116] - The company is investing in new technology development, allocating $50 million towards R&D initiatives[135] - Market expansion plans include entering three new international markets by the end of the year, targeting a 10% increase in global market share[135] - The company is considering strategic acquisitions to enhance its product offerings, with a budget of $300 million earmarked for potential deals[135] Environmental and Regulatory Compliance - The group is committed to complying with environmental laws and regulations, ensuring adherence to relevant legal requirements[171] - The company has no significant investment or capital asset acquisition plans beyond those disclosed in the report, but will continue to seek new business development opportunities[115]

Financial Performance - Interest income for the six months ended June 30, 2019, was RMB 153,083,000, representing a 20% increase from RMB 127,947,000 in the same period of 2018[11]. - Net interest income rose to RMB 127,146,000, a 28% increase compared to RMB 99,163,000 in the previous year[11]. - Profit attributable to owners of the company reached RMB 31,141,000, marking a 23% increase from RMB 25,339,000 in 2018[11]. - Total assets as of June 30, 2019, amounted to RMB 3,132,212,000, a 12% increase from RMB 2,800,226,000 at the end of 2018[11]. - Cash and bank deposits increased by 26% to RMB 1,001,846,000 from RMB 797,964,000 in 2018[11]. - The net profit attributable to equity holders for the same period was RMB 31,141 thousand, up from RMB 25,339 thousand in 2018, reflecting a year-on-year increase of about 22.1%[35]. - The total equity attributable to equity holders of the company was RMB 1,773,812 thousand as of June 30, 2019, compared to RMB 1,709,938 thousand at the end of 2018, an increase of 3.7%[149]. - The total comprehensive income for the period was RMB 39,208 thousand, compared to RMB 31,690 thousand for the same period in 2018, indicating an increase of 23.5%[149]. Loan and Business Operations - Loans granted to customers totaled RMB 1,815,020,000, reflecting a 4% increase from RMB 1,738,283,000 in the previous year[11]. - New mortgage loans granted in the first half of 2019 totaled RMB 192 million for real estate and RMB 23 million for consumer goods, with a total of 190 and 1,530 loans granted respectively[17]. - The company issued new loans totaling RMB 1,339 million in the first half of 2019, compared to RMB 751 million in the same period of 2018, representing an increase of 78.2%[22]. - The total amount of new loans issued by Dongshan Microfinance reached RMB 451 million in the first half of 2019, up from RMB 434 million in the same period of 2018[25]. - The company established four major business divisions: Inclusive Finance, Technology Finance, Online Lending Intermediary, and Insurance Agency[15]. - The Inclusive Finance division focuses on small and micro-enterprises, with operations expanding to over ten cities including Suzhou, Nanjing, and Hong Kong[16]. - The company aims to enhance its position as a leading provider of inclusive financial services in China[16]. Segment Performance - The inclusive revenue from the Inclusive Finance Division reached RMB 128,567 thousand, with a pre-tax profit of RMB 29,834 thousand, indicating a strong performance in this core business segment[39]. - The Technology Finance Division generated revenue of RMB 1,266 thousand, with a pre-tax profit of RMB 1,625 thousand, despite being newly established and incurring significant R&D expenses[40]. - The Online Lending Intermediary Division reported revenue of RMB 7,077 thousand and a pre-tax profit of RMB 2,161 thousand, although it faced regulatory challenges leading to a reduction in business scale[43]. - The Insurance Agency Division achieved revenue of RMB 684 thousand and a pre-tax profit of RMB 97 thousand, with ongoing expansion of strategic partnerships with insurance companies[44]. Financial Position and Liabilities - The total liabilities increased to RMB 1,220,459 thousand as of June 30, 2019, compared to RMB 903,198 thousand as of December 31, 2018, representing a growth of 35.2%[146]. - Current liabilities totaled RMB 1,214,271 thousand, up from RMB 903,198 thousand, indicating a significant increase of 34.4%[146]. - As of June 30, 2019, the company had a total impairment provision of RMB 394,915 thousand, accounting for approximately 18% of the outstanding loans granted to customers[47]. - The company reported new litigation loans totaling RMB 30,434 thousand for mortgage loans and RMB 9,849 thousand for non-mortgage loans, with litigation loans accounting for 25.6% of the total loans granted[51]. Cash Flow and Financing Activities - The net cash outflow from operating activities was RMB 132,527 thousand for the six months ended June 30, 2019, primarily due to an increase in loan issuance[70]. - The net cash inflow from financing activities was RMB 182,349 thousand during the same period, mainly driven by increased credit financing to support business development[71]. - Bank borrowings amounted to RMB 987,615 thousand as of June 30, 2019, up from RMB 766,286 thousand on December 31, 2018, representing a growth of 29.0%[56]. Employee and Administrative Expenses - The company had 182 full-time employees, an increase of 14 from 168 as of December 31, 2018[76]. - Employee compensation and benefits for the six months ended June 30, 2019, amounted to RMB 20,874,000, an increase of RMB 2,079,000 compared to the same period last year[76]. - The company’s administrative expenses for the first half of 2019 were RMB 36,563 thousand, slightly up from RMB 35,693 thousand in the previous year[35]. Corporate Governance and Shareholder Information - The company has complied with the corporate governance code principles and provisions, except for the separation of the roles of chairman and CEO[125]. - Major shareholder Xiaolai Investment Limited holds 260,000,000 shares, representing 23.92% of the total issued shares[98]. - Major shareholder Zhu Tianxiao has control over 325,000,000 shares through related entities, accounting for 29.90% of the total issued shares[98]. - The company has granted a total of 50,000,000 stock options under its stock option plan, with 11,550,000 options exercised as of June 30, 2019[105]. New Business Developments - The company acquired Sichuan Aomeishu Technology Co., Ltd. on March 8, 2019, to expand its lending business capabilities[62]. - The company established Lianqietong (Shanghai) Technology Co., Ltd. with an investment of RMB 24,955 thousand to develop supply chain financial technology services[63]. - The company aims to expand its lending business and enhance cooperation with banks and local governments to meet customer demand[84].

CHINA HUIRONG FINANCIAL HOLDINGS LIMITED 中國匯融金融控股有限公司 （於開曼群島註冊成立的有限公司） 股份代號：1290 匯 融 finner 我 們 立 志 成 為 中 國 領 先 的 綜 合 性 金融服務供應商。 | --- | --- | |--------------------------------------------------------------------------------------|-------| | | | | 我們正努力為我們的客戶提供抵押貸款、信用貸 款、網絡借貸中介等多種金融服務,以及開展投 | | I 75 合併財務報表及獨立核數師報告 I I D 目 錄 公司資料 02 財務摘要 03 80 合併綜合收益表 主席致辭 04 81 合併財務狀況表 管理層討論與分析 06 83 合併股東權益變動表 董事及高級管理層 26 85 合併現金流量表 董事會報告 33 86 合併財務報表附註 企業管治報告 53 172 釋義 風險管理與內部監控報告 65 176 詞彙 環境、社會及管治報告 70 環境・社會及管治報告 70 中國匯融 ...