Core Viewpoint - The company,陆控, has released its annual performance report for the year ending December 31, 2024, showing significant improvements in loan quality and operational efficiency, alongside a new management team aimed at restoring normal trading and shareholder confidence [1][2][5]. Financial Performance - As of December 31, 2024, the company's enabled loan balance reached 216.9 billion, with new loans amounting to 21.31 billion in 2024 [1][4]. - The total number of served customers is 25.9 million, with 5 million active customers [1]. - The overdue rates have improved, with the 30-day overdue rate decreasing from 6.9% to 4.8% and the 90-day overdue rate from 4.1% to 2.9% [1][4]. - Credit impairment losses decreased to 12.613 billion, a 0.7% decline from 2023, attributed to reduced loan claims and improved asset quality [1][4]. Management Changes - The company announced new board appointments, with Zhao Rongshi stepping down as CEO and executive director due to personal reasons, while new non-executive directors from Ping An Group were appointed [3][6]. - Ji Xiang will take over as executive director and CEO starting April 1, bringing nearly 20 years of experience in retail credit, risk management, and investment management [3][6]. Operational Developments - The company has shown resilience in its business fundamentals despite being in a period of internal control rectification, with consumer finance becoming a new growth engine [2][5]. - By the end of 2025, the consumer finance loan balance is projected to reach 59.6 billion, reflecting a year-on-year growth of 19.0% [2][5]. - The proportion of risk-bearing loan balances has increased to 91.4%, indicating enhanced control over risk pricing and asset quality management [2][5]. Regulatory Compliance - The annual report was released two and a half months ahead of the previously approved deadline, signaling improved efficiency in financial auditing and internal control rectification [2][5].
陆控发布2024年年度报告，消金业务为新增长极