GZP(SH:601228) Zheng Quan Zhi Xing·2025-08-29 17:02Core Viewpoint - The report assesses the ongoing risks associated with Guangzhou Port Financial Company, highlighting its financial status, internal controls, and risk management practices, indicating a stable operational environment and compliance with regulatory requirements [1][9]. Group 1: Basic Information of Guangzhou Port Financial Company - Guangzhou Port Financial Company was established on August 31, 2020, as a non-bank financial institution approved by the former China Banking and Insurance Regulatory Commission [1]. - The registered capital is 1 billion RMB, with Guangzhou Port Group contributing 510 million RMB, holding a 51% stake [1]. Group 2: Internal Control Situation - The company has established a governance structure involving a board of directors, supervisory board, and management, ensuring effective internal control [2]. - A comprehensive risk management system is in place, with separate departments for risk compliance and auditing to monitor business activities [2][5]. Group 3: Risk Identification and Assessment - Guangzhou Port Financial Company has developed specific risk control procedures tailored to different business activities, ensuring effective monitoring and assessment of various risks [2][4]. - The company emphasizes a proactive approach to risk management, integrating compliance and internal control requirements into business processes [2][4]. Group 4: Operational and Management Situation - As of June 30, 2025, the total assets of Guangzhou Port Financial Company amounted to 6.125 billion RMB, with owner’s equity at 1.142 billion RMB, and a net profit of 21 million RMB for the first half of 2025 [5][6]. - The company adheres to a prudent management principle, complying with relevant financial regulations and continuously improving internal management [6]. Group 5: Regulatory Indicators - As of June 30, 2025, all regulatory indicators met the required standards, including a capital adequacy ratio of 29.87%, a non-performing asset ratio of 0.00%, and a liquidity ratio of 67.74% [7]. Group 6: Loan and Deposit Situation - As of June 30, 2025, the company and its subsidiaries had a deposit balance of 2.786 billion RMB and a loan balance of 1.680 billion RMB with Guangzhou Port Financial Company [8]. Group 7: Continuous Risk Assessment Measures - The company has established a risk prevention regulation to ensure the safety and liquidity of funds, including a risk reporting system and emergency response plans [8]. Group 8: Risk Assessment Opinion - The company concludes that Guangzhou Port Financial Company operates within legal frameworks, has a sound internal control system, and maintains manageable risks in its financial services [9].