JFL(SH:600901)2024-04-26 13:04Financial Performance - The total assets of Jiangsu Financial Leasing reached RMB 119.92 billion at the end of 2023, an increase of 10.03% year-on-year[10]. - The net profit for 2023 was RMB 2.66 billion, reflecting a year-on-year growth of 10.30%[10]. - The company's operating revenue for 2023 was CNY 478,684.29 million, representing a year-on-year increase of 10.14% compared to CNY 394,059.29 million in 2022[19]. - The net profit attributable to shareholders for 2023 was CNY 266,008.72 million, reflecting a year-on-year growth of 10.30% from CNY 207,245.33 million in 2022[19]. - The total profit for 2023 was 3.54 billion yuan, reflecting a year-on-year increase of 10.20%[38]. - The company achieved a basic earnings per share of CNY 0.63 in 2023, up 8.62% from CNY 0.58 in 2022[20]. - The company's revenue for the reporting period was 4.79 billion yuan, a growth of 10.14% year-on-year[38]. - Interest income increased to 480,008.82 million RMB, up 15.73% compared to the previous year[40]. - The company reported a significant decrease in fee and commission income, down 99.83% to -11,100.36 million RMB[41]. Asset Management - The total assets at the end of 2023 reached CNY 11,992,005.64 million, marking a 10.03% increase from CNY 9,930,723.27 million in 2021[19]. - The financing lease asset scale was 114.11 billion yuan, growing by 9.71% year-on-year[28]. - The total financing lease assets reached CNY 11,410,906.47 million, an increase of 9.71% compared to the previous period[66]. - The net amount of financing lease assets (including accrued interest) was CNY 1,103.89 million, reflecting a growth of 9.95% compared to the previous year[61]. - The company reported a non-performing financing lease asset balance of CNY 1,038.36 million, an increase of 9.35% year-over-year, maintaining a non-performing asset ratio of 0.91%[61]. Strategic Focus - Jiangsu Financial Leasing operates across 10 major industries and over 80 sub-markets, forming a "3+N" business structure with three major hundred-billion-level segments[10]. - The company is focusing on clean energy, environmental protection, and green travel sectors to contribute to the national "dual carbon" strategy[10]. - The company aims to leverage new technological revolutions and industrial transformations to continue creating value and achieving its goal of becoming a leading international equipment leasing service provider[12]. - The company’s strategy for 2023 focused on "retail + technology" to enhance core competitiveness and achieve stable growth[27]. - The company is focusing on a "retail + technology" dual-leading strategy to enhance its competitive capabilities[32]. Governance and Compliance - The company emphasizes maintaining independence from its controlling shareholder in various aspects, including business and financial operations[91]. - The company has established a complete ownership and management rights over its assets, with no dependency or occupation issues with the controlling shareholder[93]. - The company’s financial management is conducted independently, with regular audits by internal and external agencies, confirming no non-operational fund occupation by the controlling shareholder[93]. - The company has a clear governance structure, with no mixed operations or overlapping functions between the controlling shareholder and the company[93]. - The company is committed to compliance with relevant laws and regulations in its operations and governance[93]. Risk Management - The company’s risk management system integrates technology to enhance its ability to identify and mitigate risks[37]. - The company faces risks related to declining asset quality due to adverse macroeconomic conditions, which could impact financial performance[80]. - Interest rate fluctuations may affect the company's profitability, particularly if the LPR pricing on the asset side decreases more than the funding market[80]. - The company has a mismatch in the duration of interest-bearing liabilities and leasing projects, which poses liquidity risks[80]. - The company is focusing on ESG loan initiatives as part of its risk management strategy[113]. Awards and Recognition - The company has received over 50 awards in 2023, including the "Best Financial Leasing Company of the Year" from the Financial Times[10]. Future Plans - The company aims to become an internationally leading equipment leasing service provider by 2026[34]. - In 2024, the company will prioritize capability building and adopt a "stability first, progress while maintaining stability" approach to face challenges[78]. - The company plans to enhance market capabilities through differentiated strategies, aiming to stabilize asset scale and expand regional business[79]. - The company intends to diversify financing methods to manage costs, including utilizing bond issuance and expanding international financing channels[79]. - The company plans to expand its market presence significantly, focusing on new product development and technological advancements[105]. Employee Management - The company reported a total of 528 employees, with 36 in management, 312 in business roles, and 180 in other positions[127]. - The company established a diversified compensation management system, ensuring fairness and competitiveness in employee salaries, and revised the performance compensation recovery management rules[128]. - A total of 83 training sessions were organized at the company level, with approximately 2,803 participants, and 100% coverage in departmental training[129]. - The company introduced a new employee psychological care service brand, enhancing employee management and fostering a supportive culture[131]. Social Responsibility - The company invested a total of CNY 990,268 in social responsibility initiatives, with CNY 981,035 allocated to funding and CNY 9,233 in material donations[146]. - The company conducted a "Charity One Day Donation" campaign, raising CNY 44,035 from over 400 employees to support various charitable projects[147]. - The company actively participated in rural revitalization efforts, focusing on agricultural machinery, modern livestock, and household photovoltaic systems to enhance rural green development[148]. - The company promotes "household photovoltaic" leasing to increase farmers' income and supports rural areas in achieving comprehensive industrial development[149].