Guangdong Guanhao High-Tech (SH:600433) Zheng Quan Zhi Xing·2025-08-22 16:36Core Viewpoint - The report evaluates the ongoing risks associated with Chengtong Financial Co., Ltd., highlighting its financial stability, risk management practices, and the relationship with Guangdong Guanhao High-tech Co., Ltd. [1][8] Group 1: Basic Information of Chengtong Financial - Chengtong Financial was established with a registered capital of 1 billion RMB, which has been increased to 5 billion RMB [2] - The current shareholder structure includes China Chengtong Holdings Group Co., Ltd. (85%), Guangdong Guanhao High-tech Co., Ltd. (10%), and Chengtong Guohua Asset Management Co., Ltd. (5%) [2][3] - The company operates under a financial license and is located in Beijing [2] Group 2: Risk Management Practices - Chengtong Financial has established a comprehensive risk management system with clear responsibilities and reporting relationships among departments [3][4] - The company employs both on-site and off-site monitoring to manage risks effectively [4] - As of June 30, 2025, Chengtong Financial has not identified any significant deficiencies in its risk control systems related to financial reporting [5][8] Group 3: Financial Performance - As of June 30, 2025, Chengtong Financial's total assets amounted to 39.24 billion RMB, with total equity of 6.794 billion RMB [4] - The company reported a revenue of 369 million RMB and a total profit for the first half of 2025 [4][5] - The capital adequacy ratio is 24.47%, indicating strong capital strength and risk resistance [5] Group 4: Deposit and Loan Business - As of June 30, 2025, Guangdong Guanhao High-tech Co., Ltd. had a deposit balance of 664.48 million RMB in Chengtong Financial, representing 44.42% of its total deposits [6] - The loan balance from Chengtong Financial to the company was 164 million RMB, accounting for 3.52% of the company's total loans [6] - The transactions between the company and Chengtong Financial are conducted under a financial service agreement, ensuring fair pricing and alignment with business needs [6][7]