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浩森金融科技(03848) - 2021 - 中期财报
HAOSEN FINTECHHAOSEN FINTECH(HK:03848)2021-09-28 09:28

Revenue and Profitability - The group's revenue for the six months ended June 30, 2021, decreased by approximately RMB 44.5 million or 44.5% to about RMB 55.5 million compared to the same period in 2020[15]. - Revenue for the six months ended June 30, 2021, was RMB 55,499 thousand, a decrease of 44.5% compared to RMB 100,047 thousand for the same period in 2020[87]. - The company reported a total revenue of RMB 503,250,000 for the first half of 2021, compared to RMB 637,824,000 in the same period of 2020, reflecting a decrease of approximately 21%[98]. - The company reported a total comprehensive income of RMB 23,561 thousand for the period, compared to RMB 17,936 thousand in the previous year, an increase of 31.0%[87]. - Net profit for the period was RMB 27,132 thousand, representing a significant increase of 119.8% from RMB 12,346 thousand in the previous year[87]. - Profit attributable to shareholders increased from approximately RMB 10.6 million to RMB 19.6 million for the six months ended June 30, 2021, due to savings from financial costs and employee benefits[24]. - Earnings per share attributable to shareholders was RMB 12.63, up from RMB 6.83, reflecting an increase of 85.5%[87]. Financial Performance and Position - Total assets as of June 30, 2021, amounted to RMB 1,077,463 thousand, a decrease from RMB 1,368,142 thousand as of December 31, 2020[91]. - The company's total equity decreased significantly, reflecting the overall decline in asset values and revenue generation capabilities[124][127]. - The company reported a total equity of RMB 794,341,000 as of June 30, 2021, compared to RMB 817,451,000 at the end of June 2020, reflecting a decrease of approximately 3%[101]. - Current liabilities decreased to RMB 204,754 thousand from RMB 530,956 thousand, indicating a reduction of 61.4%[91]. - The company's cash and cash equivalents were RMB 48,606 thousand, down from RMB 118,633 thousand, a decline of 59.0%[91]. - The company incurred a fair value loss of RMB 3,590,000 during the reporting period, which impacted the overall financial performance[98]. Operational Changes and Strategies - The company adjusted its operational strategy in response to the economic environment and the impact of COVID-19, focusing on small and medium-sized enterprises in Shenzhen and Dongguan[9]. - The company plans to adjust its small loan business strategy based on new regulatory policies in the real estate sector to expand its market share in the second mortgage segment[9]. - The company will focus on expanding its financing leasing and small loan services to improve revenue streams in the upcoming periods[135]. - The company aims to strengthen its risk management capabilities and control costs effectively while developing existing business advantages[62]. - The company plans to enhance its information technology systems to collect more accurate data for better financial and operational reviews of clients[35]. Employee and Operational Costs - Employee benefit expenses decreased by approximately RMB 5.9 million or about 33.1% to RMB 11.9 million for the six months ended June 30, 2021, mainly due to the streamlining of human resources[20]. - Other operating expenses amounted to approximately RMB 10.9 million, accounting for about 19.6% of total revenue, compared to 11.9% for the six months ended June 30, 2020[21]. - The company employed 78 full-time employees as of June 30, 2021, down from 140 as of June 30, 2020, with employee benefit expenses reaching approximately RMB 11.9 million[31]. Stock Options and Incentives - A stock option plan was approved in June 2017, allowing the company to grant options to employees and other contributors, with a total of 15,552,300 shares potentially issuable under the plan[40]. - The company continues to incentivize employees through stock options, reflecting a commitment to employee engagement and retention[49]. - The company has adopted a share incentive plan on November 6, 2019, aimed at rewarding employees for their contributions and encouraging retention[57]. - The company has granted stock options to 13 consultants with extensive experience in micro-lending, aimed at maintaining business relationships and encouraging contributions[55]. Receivables and Credit Management - The total net value of loans and receivables as of June 30, 2021, was RMB 722,183,000, a decrease from RMB 1,006,543,000 as of December 31, 2020, indicating a decline of approximately 28.2%[155]. - The company’s expected credit loss provision for loans and receivables was RMB 540,746,000 as of June 30, 2021, compared to RMB 1,186,007,000 as of December 31, 2020, indicating a reduction of approximately 54.4%[155]. - The company has established a factoring agreement providing approximately RMB 99,000,000 in cash factoring financing without recourse[161]. - The expected credit loss provision for small loans decreased to RMB 22,287 thousand as of June 30, 2021, compared to RMB 43,699 thousand as of December 31, 2020, indicating improved credit quality[175]. Market and Regulatory Environment - The company has identified digital transformation as a key focus to respond to the complex economic environment[62]. - The company will continue to adapt its business strategies based on market conditions and customer situations, primarily focusing on clients in China[62]. - The company plans to increase its financing capacity and expand partnerships to improve its comprehensive service capabilities[62]. Shareholder Information - The major shareholder, Fudeng Investment Limited, holds 101,974,000 shares, representing 65.40% of the issued share capital[81]. - Director Lu Weihao holds a controlling interest in Fudeng Investment Limited, which owns the same number of shares[81].