Financial Performance - For the year ended December 31, 2022, the company reported a net interest income of RMB 150,558 thousand, a decrease of 46.3% from RMB 280,319 thousand in 2021[2] - The total operating income for 2022 was RMB 162,681 thousand, down from RMB 316,120 thousand in 2021, reflecting a decline of 48.6%[2] - The company achieved a profit before tax of RMB 578,071 thousand, compared to a loss before tax of RMB 1,120,122 thousand in 2021, indicating a significant turnaround[2] - The net profit for the year was RMB 135,097 thousand, recovering from a loss of RMB 840,093 thousand in the previous year[2] - Basic and diluted earnings per share for 2022 were RMB 0.0631, compared to a loss per share of RMB 0.3926 in 2021[2] - The company recorded a net profit of RMB 135 million in 2022, compared to a net loss of RMB 840 million in 2021, primarily due to the recovery of overdue payments exceeding RMB 1.7 billion[31] - The company achieved a net profit of approximately RMB 135 million for the year ended December 31, 2022, compared to a net loss of approximately RMB 840 million in 2021[45] Assets and Liabilities - Total assets increased to RMB 3,472,326 thousand in 2022, up from RMB 3,375,771 thousand in 2021, representing a growth of 2.9%[3] - The company's total liabilities decreased to RMB 112,762 thousand in 2022 from RMB 151,304 thousand in 2021, a reduction of 25.5%[3] - The net asset value rose to RMB 3,359,564 thousand in 2022, compared to RMB 3,224,467 thousand in 2021, reflecting an increase of 4.2%[3] - The company's total liabilities amounted to RMB 112,762 thousand as of December 31, 2021[27] - As of December 31, 2022, the company's loans and advances to customers net amount was approximately RMB 550 million, a decrease from RMB 2.44 billion in 2021[46] Loan and Credit Management - Total loans and advances issued in 2022 amounted to RMB 1,767,538 thousand, down from RMB 4,097,752 thousand in 2021, indicating a decrease of approximately 56.8%[13] - Net loans and advances after impairment losses for 2022 were RMB 554,939 thousand, a decline of 77.3% compared to RMB 2,439,894 thousand in 2021[13] - The provision for impairment losses in 2022 was RMB 1,214,051 thousand, down from RMB 1,662,084 thousand in 2021, reflecting a reduction of 27%[13] - The total overdue loans as of December 31, 2022, amounted to RMB 1,209,915 thousand, compared to RMB 2,657,062 thousand in 2021, showing a decrease of 54.5%[16] - The company provided retail loans to end customers totaling RMB 626,288 thousand in 2022, down from RMB 1,516,458 thousand in 2021[13] - The company has established a credit risk management system to identify, assess, and mitigate risks associated with loan issuance[33] Operational Highlights - The company plans to continue focusing on enhancing its financial services and expanding its market presence in the automotive finance sector[1] - The company’s retail business is focused on providing automotive retail loans, loan facilitation services, and direct leasing services[25] - The company maintained zero external funding needs in 2022, reflecting a cautious lending strategy amid a volatile credit environment[30] - The company plans to enhance its automotive retail loan asset scale in 2023, focusing on partnerships with channel service providers and direct dealers[55] - The company aims to restart collaborations with domestic financial institutions to secure bank credit and strengthen its funding capabilities[55] Financial Ratios and Coverage - The provision coverage ratio for Stage 3 loans was 99.98% in 2022, indicating a high level of coverage for impaired loans[17] - The company's capital adequacy ratio increased significantly from 68.37% as of December 31, 2021, to 191.50% as of December 31, 2022[51] - The liquidity ratio rose to 5,293.40% from 2,143.02% year-over-year, indicating a strong liquidity position[52] Other Financial Information - The company had no dividends declared or paid to equity shareholders for the years ended December 31, 2022, and 2021[22] - The board of directors does not recommend the distribution of a final dividend for the year ended December 31, 2022[56] - The company has no significant contingent liabilities as of December 31, 2022[55] - The company has suspended trading of its H shares since October 7, 2022, until further notice[61] - Deloitte has verified the financial statements for the year ending December 31, 2022, but did not provide any assurance or conclusion on the preliminary announcement[59]
东正金融(02718) - 2022 - 年度业绩