Company Overview - Guangdong Join-Share Financing Guarantee Investment Co., Ltd. focuses on providing credit-based financing solutions to small and medium-sized enterprises (SMEs) in Guangdong province and certain cities in Anhui province[4]. - The company has significantly expanded its business network since its establishment in 2003, covering all major cities in Guangdong province[4]. - The management team includes experienced professionals with over 11 years in enterprise operations and management[13]. - The company aims to enhance its market position through strategic planning and operational management improvements[13]. - The company is committed to developing new products and technologies to better serve its clients[4]. Financial Performance - In 2022, the company reported a consolidated statement of profit or loss and other comprehensive income, indicating its financial performance[11]. - For the year ended December 31, 2022, total revenue was approximately RMB 360.71 million, representing an increase of approximately 13.18% compared to the previous year[30]. - Profit for the year was approximately RMB 52.49 million, with a net profit margin of 16.52%[30]. - Profit before taxation amounted to approximately RMB 69.28 million, representing a decrease of approximately 49.52% compared to the previous year[31]. - Profit attributable to equity shareholders of the Company was approximately RMB 42.58 million, a decrease of approximately 48.07% compared to the previous year[31]. - The Board recommended a final dividend of RMB 0.035 per share for the year ended December 31, 2022, down from RMB 0.05 per share in 2021[31]. - The company reported a net guarantee fee income of RMB 317,762,000 for 2022, an increase of 2.2% from RMB 310,072,000 in 2021[36]. - Total assets reached RMB 3,671,138,000 in 2022, up from RMB 3,445,065,000 in 2021, representing a growth of 6.6%[36]. - The net profit attributable to equity shareholders was RMB 52,491,000 in 2022, a decrease of 45.4% compared to RMB 96,353,000 in 2021[36]. - The return on net assets dropped to 2.2% in 2022 from 4.1% in 2021, indicating a decline in profitability[36]. Strategic Initiatives - Future outlook includes continued expansion of services and potential market penetration in new regions[4]. - The company successfully issued corporate bonds with a coupon rate of 3.50%, the lowest in the history of guarantee companies at the same level[42]. - The company improved its capacity to serve SMEs through the introduction of state-owned capital and a new round of capital increase in its subsidiaries[42]. - The company plans to innovate more business models and launch new initiatives to support the financing and development of SMEs in 2023[74]. - Guangdong Join-Share is also considering strategic acquisitions to enhance its service offerings, with a budget of RMB 200 million allocated for potential mergers and acquisitions in 2023[91]. Market and Economic Context - The company emphasizes the importance of macroeconomic policies to stabilize market entities and support employment[43]. - The COVID-19 pandemic reoccurred in 2022, impacting the global economic recovery[67]. - The central government introduced a new portfolio-based tax support policy, combining phased measures to implement tax cuts and enhance financial support for the real economy[68]. - Industries severely affected by the pandemic received continuous financing support from the government[68]. - The Gross Domestic Product (GDP) of China reached RMB 121.0207 trillion in 2022, representing a 3.0% increase compared to the previous year[81]. - China's total value of goods import and export was RMB 42.07 trillion in 2022, reflecting a 7.7% increase over 2021[81]. - The SMEs Development Index (SMEDI) was reported at 87.9 in December 2022, indicating a decrease of 0.2 points from the previous month, marking the lowest level in two years[82]. Risk Management - The company has implemented various innovative financial measures to support the development of small and micro enterprises[44]. - The company has a risk assessment process and collateral management procedures in place to classify risk statuses[158]. - The company has implemented stricter risk screening measures based on macroeconomic changes, focusing on industries with higher risks[182]. - The risk management department classifies customer risk profiles into five categories: "normal," "special-attention," "substandard," "suspicious," and "loss," adjusting supervision grades accordingly[187]. - The company conducts regular on-site inspections and third-party supervision for tangible assets used as collateral, ensuring proper management of both tangible and intangible assets[183]. Client and Service Development - User data indicates that the company expanded its client base by 30%, reaching a total of 1,500 active clients by the end of 2022[91]. - The company has obtained seven computer software copyright registration certificates, showcasing its innovation in supply chain finance and inclusive finance[73]. - The company has received multiple honors, including the provincial "2022 Model Supervision Rating AAA+ Agency" and the "Outstanding Results of Operation Award," laying a solid foundation for future expansion[73]. - The company is exploring market expansion opportunities in Southeast Asia, with plans to establish a presence in at least two new countries by the end of 2023[91]. Governance and Compliance - The company is committed to enhancing its corporate governance practices, ensuring compliance with regulatory requirements and improving transparency[93]. - The board has achieved its diversity objectives, with at least 40% of its members being independent non-executive directors[93]. - The Group has obtained a business license for financing guarantee business, compliant with industry regulatory requirements[113].
中盈盛达融资担保(01543) - 2022 - 年度财报