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中盈盛达融资担保(01543) - 2019 - 中期财报
JOIN-SHAREJOIN-SHARE(HK:01543)2019-09-04 08:59

Financial Performance - The total revenue for the first half of 2019 reached RMB 183.97 million, representing a year-on-year increase of approximately 26.59%[11] - The profit for the same period was RMB 68.52 million, showing a year-on-year growth of about 6.61%[11] - The net income from guarantee fees increased to approximately RMB 84.25 million, up by about RMB 10.42 million or 14.11% from the previous year[14] - The income from financing guarantee fees rose by approximately RMB 7.54 million or 15.33% to about RMB 56.73 million[14] - Non-financing guarantee fee income increased by approximately RMB 2.42 million or 9.13% to around RMB 28.94 million[14] - The net interest income increased from approximately RMB 35.26 million for the six months ended June 30, 2018, to approximately RMB 44.67 million for the six months ended June 30, 2019, representing an increase of about RMB 9.41 million or approximately 26.69%[15] - The pre-tax profit rose from approximately RMB 86.80 million for the six months ended June 30, 2018, to approximately RMB 93.16 million for the same period in 2019, an increase of about RMB 6.36 million or approximately 7.33%[25] - The net profit for the period increased from approximately RMB 64.27 million in 2018 to approximately RMB 68.52 million in 2019, an increase of about RMB 4.25 million or approximately 6.61%[29] - The company reported a net profit of RMB 54,939 thousand for the six months ended June 30, 2019, compared to RMB 70,153 thousand for the same period in 2018, reflecting a decline of 21.7%[117] - Total comprehensive income for the period was RMB 54,721 thousand, down from RMB 68,059 thousand in the previous year, indicating a decrease of 19.5%[121] Revenue Sources - Guarantee fee income for the six months ended June 30, 2019, was RMB 85,672,000, an increase of 13.0% from RMB 75,717,000 in the same period of 2018[101] - Interest income totaled RMB 50,764,000, with RMB 7,650,000 from guarantee business and RMB 43,114,000 from small and micro enterprise loans[168] - Other income increased from approximately RMB 23.05 million in 2018 to approximately RMB 37.88 million in 2019, an increase of about RMB 14.83 million or approximately 64.34%[20] - The company plans to continue expanding its guarantee and consulting services to small and micro enterprises, focusing on risk management and internal control consulting[162] Expenses and Liabilities - The operating expenses increased from approximately RMB 40.72 million in 2018 to approximately RMB 54.04 million in 2019, an increase of about RMB 13.32 million or approximately 32.71%[24] - The impairment losses increased from approximately RMB 22.08 million in 2018 to approximately RMB 24.34 million in 2019, an increase of about RMB 2.26 million or approximately 10.24%[23] - Total liabilities increased to RMB 868,547,000 from RMB 672,769,000 at the end of 2018, indicating a rise of 29.1%[111] Cash Flow and Assets - As of June 30, 2019, cash and cash equivalents stood at RMB 568,140 thousand, a decrease from RMB 516,562 thousand year-over-year[126] - The company reported a significant reduction in cash used for purchasing financial assets, totaling RMB (123,500) thousand, compared to RMB (187,174) thousand in the previous year[126] - The company’s total restricted bank deposits amounted to RMB 913,639,000 as of June 30, 2019, compared to RMB 1,125,345,000 as of December 31, 2018, a decrease of 18.8%[195] Corporate Governance and Structure - The company maintained compliance with the corporate governance code as per the listing rules, with a board consisting of one executive director, five non-executive directors, and three independent non-executive directors[88] - The company has not established the position of CEO, with responsibilities being fulfilled by the president[89] - The company believes that having the chairman also serve as president ensures stable leadership and effective execution of overall strategic plans[89] Strategic Initiatives - The company is focused on strategic transformation and management enhancement to capitalize on market opportunities[10] - The board plans to continue transforming and upgrading its business model, focusing on customer needs and value creation[37] - The group aims to innovate its business thinking to meet diverse financing needs and explore new financing channels beyond traditional banking[37] Employee Information - The total number of employees as of June 30, 2019, was 301, with 81% holding a bachelor's degree or higher[71] - The company paid approximately RMB 30.86 million in employee compensation during the six months ending June 30, 2019[71] - Employee costs increased to RMB 30,855,000 in the six months ended June 30, 2019, up from RMB 20,356,000 in the same period of 2018, representing a growth of 51.5%[184] Market and Economic Environment - The overall economic environment in China remains stable, with GDP growth of 6.3% in the first half of 2019, supporting the demand for guarantee services[9] - The group anticipates more policy support for financing the real economy, particularly for small and micro enterprises[36] Shareholder Information - Major shareholder Foshan Jin控 held 164,164,000 H shares, representing approximately 29.61% of the H share class and 10.52% of the total equity[80] - The beneficial owner Lu Qibang held 30,368,000 H shares, accounting for 5.48% of the H share class and 1.95% of the total equity[80]