Investment Rating - The report maintains a "Buy" rating for the company [6] Core Views - The company demonstrates stable non-performing loan rates, high return on equity (ROE), and a high dividend yield, indicating strong financial health [6] - The company reported a revenue of 4.79 billion with a year-on-year growth of 10% for 2023, and a net profit of 2.66 billion, also up by 10.3% [6] - For Q1 2024, the revenue was 1.28 billion, reflecting a year-on-year increase of 5.8%, with a net profit of 712 million, up by 4.7% [6] - The company has a capital adequacy ratio of 15.7% and a dividend payout ratio of 51%, resulting in a static dividend yield of 5.95% based on the closing price of 5.38 yuan [6] - The company has established a diversified business layout with a focus on high-end equipment, clean energy, and transportation, forming a "3+N" business structure [7] Summary by Sections Financial Performance - The company achieved a total revenue of 4.79 billion in 2023, with a year-on-year growth of 10% [9] - The net profit for 2023 was 2.66 billion, also reflecting a growth of 10.3% [9] - For Q1 2024, the revenue was 1.28 billion, with a year-on-year increase of 5.8%, and a net profit of 712 million, up by 4.7% [9] Asset Quality - The company maintains a stable non-performing loan rate of 0.91%, consistently below the 1% threshold [6] - The provision coverage ratio was 448% at the end of 2023, indicating a robust risk management framework [6] Business Strategy - The company has developed strong partnerships with over 3,000 manufacturers and distributors, enhancing its market reach [7] - The business segments of clean energy, road transport, and industrial equipment represent the largest areas of focus, with respective asset balances growing by 29%, -8%, and 49% year-on-year [7] Future Outlook - The report projects the company's net profit for 2024 to be approximately 2.79 billion, reflecting a growth of 4.8% [9] - The company is expected to maintain a dynamic price-to-book ratio of 1.24x for 2024 based on the current closing price [6]

Investment Rating - The investment rating for Jiangsu Jinzu (600901.SH) is "Buy" (maintained) [1] Core Views - The company reported revenue and net profit of 4.79 billion and 2.66 billion yuan for 2023, respectively, both showing a year-on-year increase of 10% [5] - The first quarter of 2024 saw revenue and net profit of 1.28 billion and 710 million yuan, respectively, with year-on-year growth of 6% and 5% [5] - The company’s dividend payout ratio reached 51.1% in 2023, exceeding expectations, with a current dividend yield of 5.9% [5] - The financing leasing business is expected to benefit from policies promoting large-scale equipment updates, enhancing demand in the real economy [5] Financial Summary - The total market capitalization is 23.51 billion yuan, with a circulating market capitalization of 23.44 billion yuan [2] - The average ROE for 2023 and Q1 2024 is estimated at 15.8% and 15.5%, respectively [5] - The estimated net profit for 2024 and 2025 has been revised down to 2.9 billion and 3.3 billion yuan, respectively, with a new forecast for 2026 at 3.7 billion yuan [5] - The company’s earnings per share (EPS) are projected to be 0.7, 0.8, and 0.9 yuan for 2024, 2025, and 2026, respectively [5] Asset Quality and Profitability - The estimated yield on interest-earning assets for 2023 and Q1 2024 is 6.66% and 6.82%, respectively [6] - The estimated net interest margin for 2023 and Q1 2024 is 3.66% and 3.72%, showing slight year-on-year changes [6] - The non-performing loan ratio remains stable at 0.91% for both 2023 and Q1 2024 [6] - The company’s provision coverage ratio is 448% for 2023 and 442% for Q1 2024 [6] Business Growth and Strategy - The balance of receivables from financing leases was 114.1 billion yuan at the end of 2023, increasing by 9.7% year-on-year [5] - The number of cooperative manufacturers increased by 53% year-on-year to 3,613 by the end of 2023 [5] - The company is focusing on a dual-leading strategy of "retail + technology" to enhance its service capabilities [5]

Financial Performance - The total assets of Jiangsu Financial Leasing reached RMB 119.92 billion at the end of 2023, an increase of 10.03% year-on-year[10]. - The net profit for 2023 was RMB 2.66 billion, reflecting a year-on-year growth of 10.30%[10]. - The company's operating revenue for 2023 was CNY 478,684.29 million, representing a year-on-year increase of 10.14% compared to CNY 394,059.29 million in 2022[19]. - The net profit attributable to shareholders for 2023 was CNY 266,008.72 million, reflecting a year-on-year growth of 10.30% from CNY 207,245.33 million in 2022[19]. - The total profit for 2023 was 3.54 billion yuan, reflecting a year-on-year increase of 10.20%[38]. - The company achieved a basic earnings per share of CNY 0.63 in 2023, up 8.62% from CNY 0.58 in 2022[20]. - The company's revenue for the reporting period was 4.79 billion yuan, a growth of 10.14% year-on-year[38]. - Interest income increased to 480,008.82 million RMB, up 15.73% compared to the previous year[40]. - The company reported a significant decrease in fee and commission income, down 99.83% to -11,100.36 million RMB[41]. Asset Management - The total assets at the end of 2023 reached CNY 11,992,005.64 million, marking a 10.03% increase from CNY 9,930,723.27 million in 2021[19]. - The financing lease asset scale was 114.11 billion yuan, growing by 9.71% year-on-year[28]. - The total financing lease assets reached CNY 11,410,906.47 million, an increase of 9.71% compared to the previous period[66]. - The net amount of financing lease assets (including accrued interest) was CNY 1,103.89 million, reflecting a growth of 9.95% compared to the previous year[61]. - The company reported a non-performing financing lease asset balance of CNY 1,038.36 million, an increase of 9.35% year-over-year, maintaining a non-performing asset ratio of 0.91%[61]. Strategic Focus - Jiangsu Financial Leasing operates across 10 major industries and over 80 sub-markets, forming a "3+N" business structure with three major hundred-billion-level segments[10]. - The company is focusing on clean energy, environmental protection, and green travel sectors to contribute to the national "dual carbon" strategy[10]. - The company aims to leverage new technological revolutions and industrial transformations to continue creating value and achieving its goal of becoming a leading international equipment leasing service provider[12]. - The company’s strategy for 2023 focused on "retail + technology" to enhance core competitiveness and achieve stable growth[27]. - The company is focusing on a "retail + technology" dual-leading strategy to enhance its competitive capabilities[32]. Governance and Compliance - The company emphasizes maintaining independence from its controlling shareholder in various aspects, including business and financial operations[91]. - The company has established a complete ownership and management rights over its assets, with no dependency or occupation issues with the controlling shareholder[93]. - The company’s financial management is conducted independently, with regular audits by internal and external agencies, confirming no non-operational fund occupation by the controlling shareholder[93]. - The company has a clear governance structure, with no mixed operations or overlapping functions between the controlling shareholder and the company[93]. - The company is committed to compliance with relevant laws and regulations in its operations and governance[93]. Risk Management - The company’s risk management system integrates technology to enhance its ability to identify and mitigate risks[37]. - The company faces risks related to declining asset quality due to adverse macroeconomic conditions, which could impact financial performance[80]. - Interest rate fluctuations may affect the company's profitability, particularly if the LPR pricing on the asset side decreases more than the funding market[80]. - The company has a mismatch in the duration of interest-bearing liabilities and leasing projects, which poses liquidity risks[80]. - The company is focusing on ESG loan initiatives as part of its risk management strategy[113]. Awards and Recognition - The company has received over 50 awards in 2023, including the "Best Financial Leasing Company of the Year" from the Financial Times[10]. Future Plans - The company aims to become an internationally leading equipment leasing service provider by 2026[34]. - In 2024, the company will prioritize capability building and adopt a "stability first, progress while maintaining stability" approach to face challenges[78]. - The company plans to enhance market capabilities through differentiated strategies, aiming to stabilize asset scale and expand regional business[79]. - The company intends to diversify financing methods to manage costs, including utilizing bond issuance and expanding international financing channels[79]. - The company plans to expand its market presence significantly, focusing on new product development and technological advancements[105]. Employee Management - The company reported a total of 528 employees, with 36 in management, 312 in business roles, and 180 in other positions[127]. - The company established a diversified compensation management system, ensuring fairness and competitiveness in employee salaries, and revised the performance compensation recovery management rules[128]. - A total of 83 training sessions were organized at the company level, with approximately 2,803 participants, and 100% coverage in departmental training[129]. - The company introduced a new employee psychological care service brand, enhancing employee management and fostering a supportive culture[131]. Social Responsibility - The company invested a total of CNY 990,268 in social responsibility initiatives, with CNY 981,035 allocated to funding and CNY 9,233 in material donations[146]. - The company conducted a "Charity One Day Donation" campaign, raising CNY 44,035 from over 400 employees to support various charitable projects[147]. - The company actively participated in rural revitalization efforts, focusing on agricultural machinery, modern livestock, and household photovoltaic systems to enhance rural green development[148]. - The company promotes "household photovoltaic" leasing to increase farmers' income and supports rural areas in achieving comprehensive industrial development[149].

F RE JOS 证券简称 | 江苏金租 证券代码 | 600901 2023年度 环境、社会及治理 (ESG)报告 做 一 家 有 温 度 的 金 融 租 赁 公 司 ▄ 2023 年度环境、社会及公司治理（ESG）报告 目录 治理篇 Contents Governance 夯实根基 打造国企治理典范 P22 Strengthen foundations to set a benchmark in state-owned enterprise governance 党建引领，点燃"红色引擎" 智慧风控，护航"发展之舟" P24 P38 > Promote the Party building and drive Implement smart risk controls for development with the "red engine" stable development 关于本报告 P4 About the report 现代国企,筑牢"治理之基" P30 > Strengthen structural foundation of JFL as a modern state-owned ente ...

江苏金融租赁股份有限公司 2023 年 12 月 31 日内部控制审计报告 t and the : KPMG Huazhen LLP 8th Floor, KPMG Tower Oriental Plaza 1 East Chang An Avenue Beijing 100738 China Telephone +86 (10) 8508 5000 Fax +86 (10) 8518 5111 Internet kpmg.com/cn 毕马威华振会计师事务所 (特殊普通合伙) 中国北京 东长安街1号 东方广场毕马威大楼8层 邮政编码:100738 电话 +86(10)8508 5000 传真 +86(10)8518 5111 网址 kpmg.com/cn 内部控制审计报告 毕马威华振宜字第 2408893 号 江苏金融租赁股份有限公司全体股东： =、注册会计师的责任 我们的责任是在实施审计工作的基础上，对财务报告内部控制的有效性发表审计意见， 并对注意到的非财务报告内部控制的重大缺陷进行披露。 三、内部控制的固有局限性 内部控制具有固有局限性，存在不能防止和发现错报的可能性。此外，由于情况的变化 可能导致内 ...

Financial Performance - The company's operating revenue for Q1 2024 was RMB 128,184.43 million, representing a year-on-year increase of 5.84%[4] - The net profit attributable to shareholders was RMB 71,191.31 million, reflecting a growth of 4.68% compared to the same period last year[4] - The company reported a basic earnings per share of RMB 0.17, which is a 6.25% increase year-on-year[4] - Total operating revenue for Q1 2024 reached ¥1,281,844,340.69, an increase of 5.8% compared to ¥1,211,132,523.33 in Q1 2023[18] - Net profit for Q1 2024 was ¥711,913,100.49, representing an increase of 4.7% from ¥680,057,680.72 in Q1 2023[19] - Basic earnings per share for Q1 2024 were ¥0.17, compared to ¥0.16 in Q1 2023, indicating a growth of 6.3%[20] Cash Flow - The net cash flow from operating activities was negative at RMB -285,406.61 million, indicating a significant cash outflow[4] - Cash inflow from operating activities for Q1 2024 was ¥24,006,883,274.58, up from ¥20,225,994,301.12 in Q1 2023, representing an increase of 18.0%[21] - The net cash flow from operating activities was -2,854,066,081.79 CNY, compared to -536,257,143.72 CNY in the previous period[23] - The total cash outflow from investment activities was -709,229,039.66 CNY, significantly higher than -96,246,010.36 CNY in the prior period[23] - The cash inflow from financing activities amounted to 3,000,000,000.00 CNY, with a net cash flow from financing activities of 2,993,004,117.62 CNY, contrasting with -1,030,692,095.24 CNY previously[23] - The net increase in cash and cash equivalents was -569,402,645.53 CNY, compared to -1,666,647,982.03 CNY in the previous period[23] - The ending balance of cash and cash equivalents was 2,271,716,955.40 CNY, down from 3,279,971,646.92 CNY at the beginning of the period[23] Assets and Liabilities - Total assets increased to RMB 12,728,815.39 million, up 6.14% from the end of the previous year[5] - Total assets at the end of the reporting period reached CNY 12,728,815.39 million, an increase from CNY 11,992,005.64 million at the end of the previous year[12] - Total liabilities amounted to CNY 10,837,616.72 million, up from CNY 10,207,097.00 million year-over-year[12] - Total assets as of Q1 2024 amounted to ¥127,288,153,916.76, compared to ¥119,920,056,358.75 in Q1 2023, marking a growth of 6.4%[17] - Total liabilities increased to ¥108,376,167,183.61 in Q1 2024, up from ¥102,070,969,976.21 in Q1 2023, reflecting a rise of 6.3%[17] Equity and Capital - The company’s total equity attributable to shareholders rose to RMB 1,891,198.67 million, a 5.95% increase from the previous year[5] - The company's equity totaled ¥18,911,986,733.15 in Q1 2024, an increase of 5.9% from ¥17,849,086,382.54 in Q1 2023[17] - Total net capital at the end of the reporting period was CNY 2,033,549.67 million, an increase from CNY 1,917,691.94 million year-over-year[13] Operational Metrics - The weighted average return on equity decreased by 0.3 percentage points to 3.87%[4] - The company experienced a significant increase in operating lease income by 208.40% during the reporting period[8] - Non-recurring gains and losses totaled RMB 1,141.17 million, primarily due to the recovery of previously written-off amounts[6] - The net interest margin for leasing business was 3.63%, compared to 3.76% in the same period last year[14] - The ratio of non-performing financing lease assets remained stable at 0.91%[14] - The coverage ratio for provisions was 442.08%, down from 448.39% year-over-year[14] - Core Tier 1 capital adequacy ratio was 14.52%, slightly down from 14.55% in the previous year[13] - The total amount of risk-weighted assets was CNY 12,971,291.18 million, compared to CNY 12,217,123.30 million at the end of the previous year[13] - The company reported a cost-to-income ratio of 9.38%, up from 8.81% in the previous year[14] - The proportion of normal financing lease assets was 95.84%, slightly up from 95.59% year-over-year[15] - The company reported a net increase in borrowings and interbank loans of ¥4,763,792,361.71 in Q1 2024, compared to ¥5,477,395,371.71 in Q1 2023[21] - The company’s total operating expenses for Q1 2024 were ¥333,210,861.67, an increase from ¥304,520,269.39 in Q1 2023, reflecting a rise of 9.4%[19]

证券代码：600901 证券简称：江苏金租 公告编号：2024-024 可转债代码：110083 可转债简称：苏租转债 江苏金融租赁股份有限公司 关于公司 2019 年限制性股票股权激励计划 第三个解除限售期解除限售条件成就的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承 担法律责任。 重要内容提示 ●公司 2019 年限制性股票激励计划第三个解除限售期解除限售 条件已经成就，本次符合解除限售条件的共计 134 人，可解除限售的 限制性股票数量为 980.9364 万股，占公司总股本1的 0.2245%。 ●本次限制性股票解除限售尚需在相关部门办理解除限售手续， 在手续办理完成后上市流通前，公司将发布相关提示性公告，敬请投 资者注意。 （一）2019 年 12 月 20 日，公司第二届董事会第十五次会议和第 二届监事会第十四次会议审议通过了《江苏金融租赁股份有限公司 2019 年限制性股票股权激励计划（草案）》及其他相关议案。 （二）2020 年 1 月 22 日，公司公布了《关于 2019 年限制性股票 股权激励计划获江苏省国资委 ...

江苏金融租赁股份有限公司 股权托管办法 第一章 总则 第一条 为进一步规范江苏金融租赁股份有限公司（以下简称"公 司"）股权托管，加强股权管理，提高股权透明度，根据《商业银行 股权管理暂行办法》《商业银行股权托管办法》及《江苏金融租赁股 份有限公司章程》等相关规定，制订本办法。 第二条 本办法所称股权托管是指公司与托管机构签订服务协议， 委托其管理公司股东名册，记载股权信息，以及代为处理相关股权管 理事务。 第二章 股权托管 第三条 公司应委托依法设立的证券登记结算机构、符合下列条 件的区域性股权市场运营机构或其他股权托管机构管理其股权事务： （一）在中国境内依法设立的企业法人，拥有不少于两年的登 记托管业务经验（区域性股权市场运营机构除外）； （二）具有提供股权托管服务所必须的场所和设施，具有便捷 的服务网点或者符合安全要求的线上服务能力； （三）具有熟悉股权管理法律法规以及相关监管规定的管理人 员； （四）具有健全的业务管理制度、风险防范措施和保密管理制 度； （五）具有完善的信息系统，能够保证股权信息在传输、处理、 存储过程中的安全性，具有灾备能力； （六）具备向国家金融监督管理总局及其派出机构报送信息 ...

江苏金融租赁股份有限公司 自 2023 年 1 月 1 日 至 2023 年 12 月 31 日止年度财务报表 and and the t and the subject of KPMG Huazhen LLP 8th Floor, KPMG Tower Oriental Plaza 1 East Chang An Avenue Beijing 100738 China Telephone +86 (10) 8508 5000 Fax +86 (10) 8518 5111 kpmq.com/cn Internet 毕马威华振会计师事务所 (特殊普通合伙) 中国北京 东长安街1号 东方广场毕马威大楼8层 邮政编码:100738 电话 +86(10)8508 5000 传真 +86 (10) 8518 5111 网址 kpmg.com/cn 审计报告 毕马威华振审字第2408035号 江苏金融租赁股份有限公司全体股东: 一、审计意见 我们审计了后附的江苏金融租赁股份有限公司 (以下简称"江苏金租") 财务报表，包括 2023 年 12 月 31 日的合并及母公司资产负债表，2023 年度的合并及母公司利润表、合并 ...

独立董事薛爽述职报告 作为江苏金融租赁股份有限公司（以下简称"公司"）的独立董 事，2023 年度，本人严格按照《中华人民共和国公司法》《中华人 民共和国证券法》《上市公司独立董事管理办法》等法律法规和规 范性文件的要求，依据《江苏金融租赁股份有限公司章程》（以下 简称"《公司章程》"）赋予的职责权利，恪尽职守、勤勉尽责，充 分发挥独立董事作用，切实维护公司和全体股东特别是中小股东等 利益相关者的合法权益。现将 2023 年度履职情况报告如下： 一、个人基本情况 本人薛爽，中国国籍，中共党员，1971 年 2 月出生，博士研究 生学历，教授。现任上海财经大学会计学院教授，兼任杭州海康机 器人股份有限公司、广州慧智微电子股份有限公司、上海机电股份 有限公司、吉祥航空股份有限公司独立董事。2019 年 5 月至今担任 公司独立董事，并担任公司董事会审计委员会主任委员、关联交易 控制委员会委员。 年内，本人对独立性情况进行了自查，本人不在公司担任除独 立董事以外的其他任何职务，也不在公司主要股东担任任何职务， 与公司及公司主要股东或有利害关系的机构和人员不存在可能妨碍 进行独立客观判断的关系，没有从公司及公司主要股 ...