Financial Performance - The company reported a total revenue of RMB 10.5 billion for the first half of 2021, representing a year-on-year increase of 15%[11]. - The net profit attributable to shareholders for the same period was RMB 3.2 billion, reflecting a growth of 20% compared to the previous year[11]. - Total revenue for the six months ended June 30, 2021, was RMB 41,401.6 million, a decrease of 9.4% compared to RMB 45,819.9 million in the same period of 2020[12]. - Net profit attributable to shareholders for the period was RMB 6,687.4 million, an increase of 5.5% from RMB 6,340.7 million in the previous year[12]. - The company reported a net profit of RMB 41,401.6 million for the first half of 2021, a decrease of 23.4% from RMB 54,137.4 million in the same period of 2020[77]. - The pre-tax profit for the first half of 2021 was RMB 6,987.0 million, representing a pre-tax profit margin of 22.1%, consistent with the same margin in 2020[52]. Asset and Liability Management - The total assets of the company reached RMB 150 billion as of June 30, 2021, an increase of 10% from the end of 2020[11]. - The total assets as of June 30, 2021, amounted to RMB 1,604,243.4 million, an increase of 4.7% from RMB 1,531,817.5 million year-over-year[13]. - The total liabilities increased to RMB 1,408,408.7 million, compared to RMB 1,339,643.1 million in the same period last year, marking a rise of 5.1%[13]. - The equity attributable to shareholders was RMB 172,822.4 million, an increase of 3.9% from RMB 167,200.0 million year-over-year[13]. - The total liabilities of the group as of June 30, 2021, were RMB 1,324,465.4 million, an increase from RMB 1,248,494.8 million at the end of 2020[69]. Investment and Development - The company is investing RMB 500 million in new technology development aimed at enhancing asset management capabilities[11]. - The company plans to launch a new financial product in Q4 2021, targeting a market size of RMB 2 billion[11]. - The company is exploring potential mergers and acquisitions to strengthen its position in the asset management sector[11]. - The company aims to enhance its core business and compliance management to ensure sustainable development amidst increasing competition in the non-performing asset market[18]. Risk Management - Risk management strategies have been enhanced, focusing on mitigating impacts from the ongoing COVID-19 pandemic[11]. - The company is committed to risk prevention and management, aligning with regulatory requirements to address financial risks[18]. - The company emphasizes a risk management philosophy of "proactive management and safeguarding the bottom line," maintaining overall asset quality stability[147]. - The company has established a comprehensive risk management system covering major risk categories, continuously improving its policies[150]. Market and Economic Outlook - The management has provided a positive outlook for the second half of 2021, expecting a revenue growth of 12% to 15%[11]. - The economic environment remains complex, with challenges in the non-performing asset industry, but the company maintains strategic focus and operational stability[19]. - The Chinese economy showed resilience with a GDP growth of 12.7% year-on-year in the first half of 2021, supporting the company's performance[17]. Employee and Corporate Governance - As of June 30, 2021, the company had 12,783 employees, with 10,934 in mainland China and 1,849 in Hong Kong and Macau[142]. - The board consists of 12 members, with independent non-executive directors making up one-third of the total[190]. - The company emphasizes compliance with corporate governance principles and enhances its risk management framework[187]. Shareholder and Dividend Information - The company approved a cash dividend of 1.041 RMB per 10 shares for the 2020 fiscal year, totaling approximately 3.973 billion RMB[200]. - The company will not declare an interim dividend for 2021 and will not convert capital reserves into share capital[200]. - The major shareholder, the Ministry of Finance, holds approximately 58.00% of the total issued shares[168].
中国信达(01359) - 2021 - 中期财报