ALLIANCE INTERNATIONAL EDUCATION LEASING HOLDINGS LIMITED 友聯國際教育租賃控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：1563） 截至二零二三年九月三十日止九個月 中期業績公告 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容 而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 | --- | --- | |-------|-----------------------------------------------------------------------------------------------------------------------------------------| | | | | | 財務摘要 | | • | 截至二零二三年九月三十日止九個月，收益約為人民幣 441.4 百萬元，較截至二零 二二年九月三十日止九個月約人民幣 203.2 百萬元。 | | • | 截至二零二三年九月三十日止九個月，期內 ...

財務成本 報告期內溢利 股息 報告期內錄得與減值相關的承租人背景信息 隨著中國目前的營商環境轉好，促使承租人，尤其是醫療保健行業的承租人，能夠及時還款，從而致使報告期融 資租賃應收款項的減值虧損產生撥回淨額。 於二零二三年六月三十日，本集團就其主要業務僱用1,832名全職僱員（二零二二年十二月三十一日：本集團僱用 1,692名全職僱員）。於報告期內，僱員福利開支（包括董事酬金）約為人民幣88.6百萬元（截至二零二二年六月三十 日止六個月：約人民幣6.7百萬元）。 重大收購及出售附屬公司、聯營公司及合營企業 高等教育 本集團的煙台南山學院位於中國山東省龍口市，為經中國教育部批准的提供本科及專科文憑課程的民辦高等教育 機構。煙台南山學院為一家應用型高等教育機構，與各行業企業緊密合作，推動並貫徹「產學融合、校企合作」理 念，開設49個本科課程及40個專科文憑課程，共有30個系，致力於改善學生的實踐培訓與就業前景。煙台南山學 院期待給予大學適齡人口及以後的畢業生更多的選擇，以及企業更多的服務人才。 本集團致力在業務發展、風險管理及經營效率之間取得平衡。本集團已制定全面的風險管理及內部控制程式，處 理與其融資租賃業務有 ...

Finance Lease Receivables - As of December 31, 2022, the total outstanding finance lease receivables amounted to RMB 2,142,576,000, with 40 customers involved in sale and leaseback transactions[2] - The largest customer and the top five customers accounted for approximately 12.8% and 53.3% of the total outstanding finance lease receivables, respectively[2] - The public infrastructure sector represented 57.2% of the outstanding finance lease receivables, followed by the aviation sector at 26.8% and healthcare at 13.7%[3] - Approximately 69.8% of the outstanding finance lease receivables were secured by collateral[15] - As of December 31, 2022, RMB 1,226,508,000 of the finance lease receivables were classified as current assets, while RMB 916,068,000 were non-current assets[12] - The average repayment period for finance lease receivables is between 2 to 5 years, with interest rates ranging from 3.7% to 12.6%[5] - The finance lease receivables are primarily unsecured, with the majority being non-collateralized[15] Short-term Loans - The total outstanding short-term loans amounted to RMB 280,961,000, with interest rates ranging from 7.8% to 24%[4] - Four borrowers accounted for 31.9%, 30.9%, 19.1%, and 18.1% of the total outstanding short-term loans[7] - All outstanding short-term loans as of December 31, 2022, have been repaid by the borrowers[17]

17. 貿易應付款項、應付票據及其他應付款項 貿易應付款項、應付票據及其他應付款項包括貿易應付款項結餘約人民幣1,041,000元（二零二二年十 二月三十一日：人民幣4,239,000元）。 於二零二三年六月三十日及二零二二年十二月三十一日，基於發票日期的貿易應付款項之賬齡分析 如下。 | --- | --- | --- | |--------|--------------|----------------| | | 二零二三年 | 二零二二年 | | | 六月三十日 | 十二月三十一日 | | | 人民幣千元 | 人民幣千元 | | | （未經審核） | （經審核） | | 一年內 | | 34 4,239 | 18. 借貸 截至二零二三年六月三十日止六個月，本集團獲得新借貸人民幣305.0百萬元（截至二零二二年六月 三十日止六個月：無）。該貸款按固定市場利率4.00%至4.50%（二零二二年十二月三十一日：4.50%） 計息，並應於超過2年的期間內分期償還。所得款項用於本集團營運提供資金。 – 18 – 19. 本公司股本 | --- | --- | --- | --- | --- | --- | |-- ...

Share Issuance and Financing - The company completed a share placement and subscription, issuing a total of 47,160,000 placement shares at HKD 3.52 per share and 143,754,000 subscription shares at the same price, raising a net amount of HKD 669.6 million, of which HKD 417.0 million (USD 53.5 million) was utilized as of December 31, 2022[7] - The placement and subscription price of HKD 3.52 per share represented a discount of approximately 19.82% to the closing price on the date of the agreements and a 16.19% discount to the average closing price over the preceding five trading days[7] - The company completed the placement and subscription of new shares on December 14, 2022, with net proceeds of approximately HKD 669.6 million[173] Contingent Liabilities and Investments - The company has no significant contingent liabilities as of December 31, 2022, compared to none in 2021[7] - The company has no significant investments, including those accounting for 5% or more of the group's total assets, as of December 31, 2022[4] Risk Management and Internal Controls - The company's credit risk management includes a comprehensive risk management system, with measures such as customer due diligence, independent data review, and multiple approval processes[13] - The company's risk management framework for its higher education business includes a decision-making structure led by the president, with measures to address internal control violations and improve future operations[13] - The company's internal control and risk management principles aim to prevent risks and strengthen asset monitoring, ensuring robust business development and diversification[33] - The company's internal control system was reviewed by an external internal control consultant, and no significant risks or control deficiencies were identified during the reporting period[114] - The company's board of directors and audit committee reviewed and were satisfied with the adequacy and effectiveness of the company's risk management and internal control systems for the year ended December 31, 2022[117] Financing Lease Business - The company's financing lease business will focus on quality over quantity, aiming for steady growth while adapting to market changes and industry regulations[21] - The company's financing lease business faces risks from lessees' financial deterioration or negative cash flow, even with sufficient collateral, particularly for assets with overdue payments exceeding 90 days but less than or equal to 150 days[6] - The company is focusing on expanding and diversifying its financial leasing business, with an emphasis on risk management and asset quality[171] - The company's financing lease receivables increased by approximately 6.1% from RMB 2,020.0 million as of December 31, 2021, to RMB 2,142.6 million as of December 31, 2022[96] - The company's financing lease receivables as of December 31, 2022, consisted of (i) total financing lease receivables of approximately RMB 2,668.6 million, (ii) unearned financing income of approximately RMB 266.8 million, and (iii) impairment loss provisions of approximately RMB 259.2 million[129] - The company's financing lease receivables as of December 31, 2021, consisted of (i) total financing lease receivables of approximately RMB 2,590.6 million, (ii) unearned financing income of approximately RMB 310.2 million, and (iii) impairment loss provisions of approximately RMB 260.5 million[129] Corporate Governance and Board Committees - The company has established several board committees including the Strategic Investment Committee, Audit Committee, Remuneration Committee, and Nomination Committee, each operating under terms of reference set by the board[41] - The company's amended and restated memorandum and articles of association were adopted on February 20, 2019, and became effective on March 15, 2019, with no significant changes during the reporting period[31] - A second amended and restated memorandum and articles of association became effective on February 14, 2023, to comply with the latest legal and regulatory requirements[31] - The board has decision-making authority over all major matters, including policy issues, strategy and budget, internal control and risk management, significant transactions, financial data, and appointment of directors[40] - The company has appointed independent non-executive directors who bring extensive knowledge and business experience, ensuring objective oversight of the company's performance[47] - Directors are required to retire by rotation at each annual general meeting, with each director (including those appointed for a specified term) required to retire at least once every three years[48] - The company has received annual written confirmations from independent non-executive directors confirming their independence in accordance with the guidelines set out in the Listing Rules[47] - The company's board committees operate under terms of reference that have been published on the company's website and the Stock Exchange's website[41] - The company has established a mechanism to ensure independent insights and recommendations are available to the Board, with its implementation and effectiveness assessed annually[61] - The Board of Directors consists of 12 members, including 4 non-executive directors and 5 independent non-executive directors, with changes in composition occurring in 2022 and 2023[58] - The Audit Committee, composed of three independent non-executive directors, is responsible for reviewing financial statements and overseeing the financial reporting process, internal control systems, and risk management systems[71] - The Remuneration Committee held two meetings during the reporting period, with all three members attending, and reviewed the current remuneration of all directors, providing recommendations to the Board[72] - The company has implemented corporate governance procedures in compliance with the Corporate Governance Code, including policies on director and senior management training, compliance with laws and regulations, and codes of conduct for employees and directors[65] - The Strategic Investment Committee was established on January 16, 2023, and did not hold any meetings during the reporting period[71] - The company's senior management (excluding directors) received remuneration below HKD 1,000,000 for one individual and between HKD 1,000,000 to HKD 1,500,000 for another individual during the reporting period[76] - The Board of Directors held 4 meetings during the reporting period, with all directors attending all eligible meetings, except for newly appointed directors who attended 1 out of 1 eligible meeting[69] - The company has adopted a memorandum specifying the delegation of functions to management, including the management and daily operations of the group, subject to periodic review by the Board[50] - Independent non-executive directors have signed three-year appointment letters, which can be terminated with one month's written notice and are subject to retirement and re-election at annual general meetings[68] Financial Performance and Metrics - The company's net profit for the year ended December 31, 2022, was approximately RMB 372.1 million, a significant increase of about 4.7 times compared to RMB 78.9 million in the previous year, primarily due to the consolidation of Yantai Nanshan College and a one-time bargain purchase gain of RMB 270.5 million[100] - The company's cash and cash equivalents as of December 31, 2022, were approximately RMB 125.8 million, compared to RMB 141.8 million in the previous year[95] - The company's total equity as of December 31, 2022, was approximately RMB 2,598.0 million, compared to RMB 1,273.5 million in the previous year[95] - The company's asset-liability ratio as of December 31, 2022, was approximately 11.3%, a decrease from 38.5% in the previous year, mainly due to a reduction in borrowings relative to the company's business scale[95] - The company's impairment loss provision decreased slightly by approximately 0.5% from RMB 260.5 million as of December 31, 2021, to RMB 259.2 million as of December 31, 2022[96] - The company's operating capital (current assets minus current liabilities) as of December 31, 2022, was approximately RMB 563.6 million, compared to RMB 983.9 million in the previous year[95] - The company's total borrowings as of December 31, 2022, were RMB 329.3 million, compared to RMB 795.9 million in the previous year[95] - The company's board of directors does not recommend paying any final dividend for the year ended December 31, 2022[101] - The company did not recommend the payment of any final dividend for the year ended December 31, 2022[127] - Financial costs decreased by 14.3% from RMB 89.8 million in 2021 to RMB 77.0 million in 2022, primarily due to a 48.1% reduction in borrowing costs from RMB 68.6 million to RMB 35.6 million[138] - The company's gross profit for the year ended December 31, 2022, was approximately RMB 256.0 million, with a gross profit margin of 69.4%, representing a 10.4% increase compared to the previous year[172] - The company's other income, gains, or losses increased from RMB 16.3 million in 2021 to RMB 28.2 million in 2022, primarily due to government subsidies, investment and interest income, and losses from the disposal of plant and equipment[172] - Revenue increased by 59.1% from approximately RMB 231.8 million in 2021 to approximately RMB 368.8 million in 2022, primarily due to the acquisition of Yantai Nanshan College[188] - Yantai Nanshan College contributed approximately RMB 159.9 million in revenue from tuition, accommodation, and other educational services from August 18, 2022, to December 31, 2022[188] - The top five customers accounted for approximately 38.18% of the company's total revenue in 2022, with the largest customer contributing approximately 10.91%[195] - Service costs for 2022 were approximately RMB 112.8 million, mainly from the operations of Yantai Nanshan College[194] Higher Education Business - The company acquired a 70% stake in Yantai Nanshan College on August 18, 2022, and now operates dual business segments: higher education and financial leasing[160] - The company completed the acquisition of Yantai Nanshan College, resulting in a one-time bargain purchase gain of approximately RMB 270.5 million[93] - Yantai Nanshan College's total enrollment increased from 29,047 in the 2021/2022 academic year to 34,958 in the 2023/2024 academic year, with tuition fees for undergraduate programs rising from RMB 12,800 to RMB 15,800[168] - The company expects continued growth in demand for higher education in China due to increasing income levels and societal emphasis on higher education[169] - Yantai Nanshan College offers 49 undergraduate programs and 40 diploma programs across 30 departments, focusing on practical training and employment prospects[181] - The company expects to consolidate Yantai Nanshan College's full fiscal year financial results in 2023, compared to only 4 months in 2022[198] Environmental and Social Responsibility - Total greenhouse gas emissions increased significantly from 112.74 tons of CO2 equivalent in 2021 to 8,342.88 tons in 2022, with scope 2 emissions accounting for the majority at 8,079.65 tons[143] - Greenhouse gas emission intensity per employee decreased from 3.64 tons of CO2 equivalent in 2021 to 4.93 tons in 2022[143] - The company's greenhouse gas emissions are primarily from indirect sources, and it encourages the use of teleconferencing and direct flights to reduce carbon footprint[190] Market and Industry Trends - China's GDP reached RMB 121.0 trillion in 2022, with a year-on-year growth rate of 3%[162] - China's higher education industry's total revenue increased from RMB 997.3 billion in 2016 to RMB 1,382.7 billion in 2020, with a compound annual growth rate of 8.5%[163] - The company's customer base is primarily in the healthcare and aviation industries, with stable market conditions in 2022[193] - The company has established strong relationships with financial institutions for interest-bearing loans and asset-backed securities[195] Credit Risk and Impairment - The company's default loss rate is determined based on regulatory benchmarks, peer company practices, recovery efficiency, and expert experience[2] - The company recorded impairment provisions for nine customers (eight in healthcare and one in aviation) who failed to repay lease fees in 2022, compared to one customer in aviation in 2021[136] - The company's expected credit loss model follows a three-stage approach under new financial instrument standards, with provisions calculated based on 12-month expected credit losses unless credit risk increases significantly[137]

Financial Performance - For the six months ended June 30, 2022, the company recorded a profit of approximately RMB 46.0 million, an increase of about 2.9% from approximately RMB 44.7 million for the same period in 2021[12]. - Revenue for the same period increased by approximately 9.5% to about RMB 133.2 million, compared to approximately RMB 121.6 million for the six months ended June 30, 2021[6]. - Other income rose approximately 73.3% to about RMB 5.2 million, up from approximately RMB 3.0 million for the same period in 2021[7]. - The net profit margin slightly decreased to 34.5% from 36.8% for the same period in 2021, attributed to rising legal and professional fees[12]. - Net profit for the period was RMB 45,990,000, representing a 2.8% increase compared to RMB 44,748,000 in the previous year[63]. - Basic and diluted earnings per share for the period were RMB 0.0307, up from RMB 0.0298 in the prior year[63]. - Profit before tax was RMB 45,990,000, up from RMB 44,748,000, indicating a year-over-year increase of 2.8%[82]. Expenses and Costs - Employee costs slightly decreased to approximately RMB 6.7 million from about RMB 6.9 million for the same period in 2021[8]. - Other operating expenses increased to approximately RMB 16.8 million, representing 12.6% of total revenue, compared to 9.7% for the same period in 2021[10]. - Financial costs increased to approximately RMB 50.5 million, up from about RMB 48.2 million for the same period in 2021, primarily due to a significant rise in interest from customer deposits[11]. - The financial costs for the period were RMB (50,480,000), compared to RMB (48,206,000) in the previous year, reflecting an increase of 4.7%[63]. - The total remuneration for key management personnel increased to RMB 3,116 thousand for the six months ended June 30, 2022, from RMB 2,553 thousand in the same period of 2021[101]. Assets and Liabilities - As of June 30, 2022, cash and cash equivalents amounted to approximately RMB 69.2 million, a decrease from RMB 141.8 million as of December 31, 2021[15]. - Total borrowings decreased from RMB 795.9 million as of December 31, 2021, to RMB 467.7 million as of June 30, 2022, reflecting a significant reduction in leverage[15]. - The debt-to-equity ratio improved to approximately 26.2% as of June 30, 2022, down from 38.5% as of December 31, 2021, primarily due to the reduction in borrowings[16]. - Non-current assets decreased to RMB 824,287,000 from RMB 1,092,093,000 as of December 31, 2021, reflecting a decline of 24.5%[64]. - Current assets totaled RMB 1,302,040,000, slightly down from RMB 1,344,441,000 at the end of 2021[64]. - Total liabilities decreased to RMB 370,682,000 from RMB 360,500,000, indicating a slight increase of 0.3%[64]. - The company's total equity increased to RMB 1,320,811,000 from RMB 1,273,474,000, marking a growth of 3.7%[64]. Risk Management - The company focused on compliance management and enhancing risk management capabilities amid ongoing challenges from the COVID-19 pandemic[5]. - The company has developed a comprehensive risk management system to address various risks, with credit risk being the primary concern[27]. - The management is focusing on risk asset identification and assessment, enhancing risk management, and improving overdue asset recovery efforts[36]. - The company aims to diversify its business to reduce risks associated with solely focusing on financing leasing operations[37]. Corporate Governance - The company has adopted most of the best practices outlined in the corporate governance code[40]. - The company established a Compensation Committee consisting of three members, with independent non-executive director Mr. Liu Changxiang as the chairman, to review and recommend compensation policies for directors and senior management[43]. - The company held two Compensation Committee meetings during the reporting period, with all members present, to review director compensation and approve the remuneration for executive directors Mr. Luo Zhenming and Mr. Qiao Renjie[43]. - The Nomination Committee, also comprising three members and chaired by independent non-executive director Mr. Liu Xuewei, evaluated the independence of non-executive directors and made recommendations for director appointments[46]. Investments and Acquisitions - The company completed the acquisition of a 70% stake in the target academy for a total consideration of RMB 566 million (approximately HKD 660.4 million) on August 18, 2022[32]. - The company did not engage in any significant investments or acquisitions during the reporting period[24]. Share Capital and Securities - The company did not purchase, sell, or redeem any of its listed securities during the six months ending June 30, 2022[48]. - The company adopted a share option scheme in February 2019, which allows for the issuance of up to 150,000,000 shares under the scheme[49]. - As of June 30, 2022, there were no unexercised share options under the share option scheme, nor any options granted, agreed to be granted, exercised, cancelled, or lapsed[52]. - The company’s issued share capital remained at 1,500,000,000 shares with a par value of USD 0.000001 per share as of June 30, 2022[94]. Cash Flow - The company reported a net cash inflow from operating activities of RMB 274,724 thousand for the six months ended June 30, 2022, a decrease of 49.5% compared to RMB 543,323 thousand for the same period in 2021[67]. - The company reported a net cash outflow from financing activities of RMB 350,917 thousand for the six months ended June 30, 2022, compared to RMB 542,114 thousand for the same period in 2021, indicating a reduction in cash outflow[67]. Foreign Exchange and Credit Risks - The majority of the company's revenue and costs are denominated in RMB, exposing it to foreign exchange risks primarily related to RMB fluctuations[25]. - The expected loss rate for non-credit impaired receivables was 0.18% as of June 30, 2022, compared to 0.31% as of December 31, 2021[87]. - The company reported a significant increase in non-credit impaired expected credit losses, with RMB 90,000 as of June 30, 2022, compared to RMB 235,000 as of December 31, 2021[89].

Economic Environment - In 2021, the overall operating environment improved, with China's GDP reaching RMB 114.4 trillion, a year-on-year growth of 8.1%[11]. - The financing lease industry is undergoing structural adjustments due to stricter regulatory requirements introduced in 2020[11]. - The board anticipates continued gradual improvement in the Chinese economy and significant potential for the financing leasing industry in 2022[41]. Company Performance - The company reported a significant increase in profit during the reporting period, with no new bad debts arising[10]. - The company's revenue decreased by approximately 6.5% from RMB 248.0 million in 2020 to RMB 231.8 million in 2021 due to cautious client selection and project approvals in a changing financing leasing environment[15]. - Net profit for the year ended December 31, 2021, was approximately RMB 78.9 million, a significant increase of about 3.75 times compared to RMB 16.6 million in 2020, resulting in a net profit margin of 34.0%[20]. - The company reported a significant increase in revenue, with a year-on-year growth of 20% in the last fiscal year[1]. - The company reported a net profit of RMB 78,899,000 for 2021, compared to RMB 16,610,000 in 2020, representing a significant increase of 373.5%[169]. Financial Position - The company's cash and cash equivalents increased to approximately RMB 141.8 million in 2021 from RMB 35.7 million in 2020, indicating improved liquidity[21]. - The total borrowings decreased from RMB 1,489.0 million in 2020 to RMB 795.9 million in 2021, with a reduction in the debt-to-equity ratio from 55.5% to 38.5%[22]. - The company's total assets decreased to RMB 2,076,034,000 in 2021 from RMB 1,943,973,000 in 2020, a decline of 6.8%[171]. - The company’s total equity increased to RMB 1,273,474,000 in 2021 from RMB 1,195,450,000 in 2020, reflecting a growth of 6.5%[171]. - The group reported secured borrowings amounting to 66,541 million RMB, with no contracts transitioning to alternative rates during the year[184]. Business Strategy - The company plans to continue developing its business based on existing customer groups, adhering to the principle of "quality over quantity"[10]. - The company aims to broaden its business scope and create greater value for shareholders and society[10]. - The company is exploring acquisition opportunities outside of financing leasing to create synergies for its core business[10]. - The company plans to continue focusing on the financing leasing industry, which is expected to see strong demand due to the ongoing transformation and upgrading of China's manufacturing sector[14]. - The company has signed a memorandum of understanding with Nanshan Group for the proposed acquisition of interests in Yantai Nanshan College, indicating a strategy for market expansion[13]. Risk Management - The company has developed a comprehensive risk management system focusing on credit risk, which is the primary risk faced[34]. - The company has adopted a model for expected credit losses, considering factors such as industry characteristics, credit history, and economic conditions[36]. - The company has implemented various measures to recover overdue finance lease receivables, including phone calls, site visits, and legal actions, particularly focusing on clients in the healthcare sector[25]. Corporate Governance - The company is committed to good corporate governance and has established procedures in line with the corporate governance code as per the listing rules[58]. - The board of directors is responsible for the overall leadership and control of the group, including long-term strategy formulation[67]. - The company has a policy requiring at least three independent non-executive directors, constituting at least one-third of the board[63]. - The independent non-executive directors provide independent opinions to the group, enhancing the board's decision-making process[53]. Shareholder Relations - The company is committed to effective communication with shareholders, regularly reviewing its communication policy[99]. - Shareholder rights are protected by presenting individual resolutions at general meetings, with voting results published on the company's and stock exchange's websites[99]. - The company has a dividend policy that allows the board to propose interim and special dividends based on financial performance and other factors, with shareholder approval required for final dividends[96]. Related Party Transactions - The company confirmed compliance with the disclosure requirements under Chapter 14A of the Listing Rules regarding related party transactions[136]. - The financing lease income from Nanshan Group and its subsidiaries is included within the framework agreement, which has been approved by independent shareholders[138]. - The company’s major related party transactions include financing lease income and receivables from Nanshan Group[138]. Future Outlook - The company plans to present a resolution for the reappointment of the auditor at the upcoming annual general meeting[157]. - The company aims to enhance internal controls and risk management while expanding and diversifying its business[41]. - The company plans to diversify its revenue streams by introducing new financial products in the upcoming quarter[9].

Financial Performance - The company's revenue decreased by approximately 5.0% from RMB 128.0 million in the six months ended June 30, 2020, to RMB 121.6 million in the six months ended June 30, 2021[6]. - Total revenue for the six months ended June 30, 2021, was RMB 124,618 thousand, a decrease of 4.2% compared to RMB 130,226 thousand for the same period in 2020[44]. - The net profit for the period was RMB 44,748 thousand, compared to a net loss of RMB 35,528 thousand in the same period last year[44]. - Basic and diluted earnings per share for the period were RMB 0.0298, compared to a loss per share of RMB 0.0237 in the previous year[44]. - The company reported a significant turnaround in performance, with a profit of approximately RMB 44.7 million for the six months ended June 30, 2021, a significant increase of 225.9% from a loss of RMB 35.5 million in the same period of the previous year[10]. Expenses and Costs - Employee costs rose from RMB 4.3 million to RMB 6.9 million, an increase of approximately RMB 2.6 million due to higher average employee salaries[7]. - Other operating expenses increased to approximately RMB 11.8 million, representing 9.7% of total revenue, compared to 6.9% in the previous period[8]. - Total employee costs increased to RMB 6,904 thousand in 2021 from RMB 4,346 thousand in 2020, reflecting a rise of approximately 58.7%[58]. - The total financial costs decreased to RMB 48.2 million for the six months ended June 30, 2021, down from RMB 71.2 million in the same period of 2020, showing effective cost management[55]. Assets and Liabilities - As of June 30, 2021, cash and cash equivalents amounted to approximately RMB 431 million, an increase from RMB 357 million as of December 31, 2020[12]. - Total borrowings decreased from RMB 1,489 million as of December 31, 2020, to RMB 988.2 million as of June 30, 2021[12]. - The asset-liability ratio improved to approximately 44.3% as of June 30, 2021, down from 55.5% as of December 31, 2020, primarily due to reduced borrowings[13]. - The company’s total liabilities decreased from RMB 1,165,533 thousand to RMB 876,887 thousand, a reduction of 24.8%[45]. Cash Flow - Net cash generated from operating activities for the six months ended June 30, 2021, was RMB 543.3 million, compared to a net cash used of RMB 237.7 million in the same period of 2020, indicating a significant recovery[48]. - The company reported a net cash outflow from financing activities of RMB 542.1 million for the six months ended June 30, 2021, compared to a net cash inflow of RMB 307.8 million in the same period of 2020, indicating a shift in financing strategy[48]. Risk Management - The company continues to focus on compliance management and enhancing risk management capabilities in response to regulatory changes in the leasing industry[5]. - The group has developed a comprehensive risk management system to control various risks, including credit risk, which is considered the primary risk[19]. - The group regularly reviews the quality of financing lease receivables and has adopted a model for expected credit losses based on specific industry characteristics and economic conditions[21]. Customer Base and Market Focus - The customer base primarily serves the healthcare and aviation sectors, with a notable recovery in the healthcare industry[5]. - The company has no single customer contributing 10% or more to total revenue, indicating a diversified customer base[52]. - The company primarily operates in China, with all non-current assets located in the region, emphasizing its market focus[52]. Shareholder Information - As of June 30, 2021, the company’s major shareholder Union Capital Pte. Ltd. holds 768,475,221 shares, representing 51.23% of the company's equity[39]. - PA Investment Funds SPC holds 147,997,120 shares, accounting for 9.87% of the company's equity[39]. - The company has a total of 150,000,000 shares available for issuance upon the exercise of stock options under the stock option plan[36]. Future Plans and Investments - The company plans to continue focusing on market expansion and new product development to drive future growth[44]. - The company plans to diversify its business and reduce risks associated with solely operating in the financing lease sector[26]. - Approximately 50% of the net proceeds are allocated for business expansion in the healthcare sector, 40% for the aviation and public infrastructure sector, and 10% for general working capital[22]. Other Notable Events - The company sold a Gulfstream GV-SP (G550) aircraft for approximately USD 23.2 million in January 2021, with proceeds used to recover part of the financing lease agreement[24]. - A memorandum of understanding was signed with Nanshan Group on April 19, 2021, regarding the acquisition of full equity in Yantai Nanshan College[26]. - The company did not declare any dividends for the six months ended June 30, 2021, nor for the same period in 2020[61].

國際友聯融資租賃有限公司 INTERNATIONAL ALLIANCE FINANCIAL LEASING CO., LTD. 國際友聯融資租賃有限公司 (Incorporated in the Cayman Islands with limited liability) Stock code : 1563 ANNUAL REPORT 2020 年度報告ANNUAL REPORT 2020 INTERNATIONAL ALLIANCE FINANCIAL LEASING CO., LTD. 國際友聯融資租賃有限公司 （於開曼群島註冊成立的有限公司） 股份代號：1563 INTERNATIONAL ALLIANCE FINANCIAL LEASING CO., LTD. 2020年度報告 | --- | --- | --- | --- | |-------|-------|-------|--------------------------| | | | | | | | 目錄 | 2 | 公司資料 | | | | 3 | 行政總裁致辭 | | | | 4 | 管理層討論及分析 | | | | 14 | 董事履歷 ...

INTERNATIONAL ALLIANCE FINANCIAL LEASING CO., LTD. 國際友聯融資租賃有限公司 (Incorporated in the Cayman Islands with limited liability) Stock code : 1563 Interim Report 2020 INTERNATIONAL ALLIANCE FINANCIAL LEASING CO., LTD. 國際友聯融資租賃有限公司 （於開曼群島註冊成立的有限公司） 股份代號：1563 中期報告 2020 目錄 2 公司資料 3 管理層討論及分析 9 其他信息 14 簡明綜合損益及其他全面收益表 15 簡明綜合財務狀況表 16 簡明綜合權益變動表 17 簡明綜合現金流量表 18 簡明綜合中期財務資料附註 公司資料 | --- | --- | |-----------------------------------------------------------------------------------|-------------------------------------------- ...