Summary of Jiangsu Jinzu's Conference Call Company Overview - **Company**: Jiangsu Jinzu - **Industry**: Financial Leasing Key Points Financial Performance - **Asset Growth**: Jiangsu Jinzu's asset scale maintained double-digit growth, with new investments of approximately 57 billion yuan in the first half of 2025 [2][3] - **Revenue Growth**: Operating net income increased by nearly 15% year-on-year [2][3] - **Net Profit**: Net profit showed single-digit growth [2][3] - **Non-Performing Loan Rate**: The non-performing loan rate stood at 0.91%, indicating stable overall operations [2][3] Business Structure and Strategy - **Business Segments**: The company actively optimized its business structure, focusing on three main segments: high-end equipment, clean energy, and transportation [2][3] - **Investment in Segments**: New investments in clean energy and transportation were approximately 10 billion yuan each, with year-on-year growth of 25% and nearly 60%, respectively [2][3] - **Risk Management**: Emphasis on balancing risk and return in new investment projects, avoiding blind pursuit of scale growth [2][3][13] Financing and Cost Management - **Financing Rates**: The average financing rate for new investments was about 2.46% [2][10] - **Cost Reduction**: The company implemented measures to reduce financing costs, including increasing short-term financing and selectively adding medium to long-term financing tools [2][10] - **Fee and Commission Expenses**: Net fee and commission expenses rose significantly to 120 million yuan, primarily due to changes in the automotive finance business model [2][11] Market Position and Competitive Strategy - **Target Market**: Jiangsu Jinzu focuses on small and micro enterprises and individual clients, differentiating itself from competitors [4][19] - **Partnerships**: The company has established deep partnerships with over 6,000 manufacturers and dealers, enhancing its competitive edge [17][19] - **Technology Investment**: Significant investments in technology and digital operations to improve efficiency and reduce costs [18][19] Future Outlook - **Dividend Policy**: The company plans to maintain a dividend payout ratio of over 50% for the year, continuing its positive dividend trend [4][21] - **Market Adaptation**: Jiangsu Jinzu will continue to adapt its strategies based on market conditions, focusing on diversified industry distribution to mitigate risks [13][14][20] Challenges and Considerations - **Regulatory Environment**: The company must balance its dividend policy with regulatory requirements to retain sufficient capital for risk management [4][21] - **Impact of Policies**: The company is monitoring the effects of policies such as the 301 Act on its shipping business, which has seen some impact but remains manageable [15][16] Conclusion Jiangsu Jinzu demonstrates strong operational resilience in a complex macro environment, with a focus on sustainable growth, risk management, and technological advancement to maintain its competitive position in the financial leasing industry.

Core Insights - The core focus is on enhancing financing efficiency and reducing barriers for small and micro enterprises, as emphasized by the United Nations' "Micro, Small and Medium Enterprises Day" [1] - The integration of technology and strategy in modern risk control is highlighted, with an emphasis on quantifying risks through big data and measurement techniques [1] Group 1: Financing Efficiency and Regulatory Measures - The regulatory bodies in China have set a goal for 2025 to improve the quality and efficiency of financial services for small and micro enterprises, aiming for "maintaining volume, improving quality, stabilizing prices, and optimizing structure" [1] - The measures include improving credit approval processes and risk management models through technological advancements, enhancing fraud detection capabilities, and increasing early warning identification [1] Group 2: Innovative Risk Control Models - The company has developed a data loan product that addresses the diverse financing needs of small and micro enterprises by integrating various data sources, including online business, judicial, and credit data [2] - The self-developed fusion model outperforms traditional statistical scoring models by accommodating more data dimensions and demonstrating over 20% higher accuracy compared to conventional models [2] Group 3: Information Acquisition and Risk Management - Traditional risk control methods rely heavily on offline manual information collection, which is inefficient and prone to inaccuracies [3] - The company has innovated its risk control model by utilizing multi-dimensional data for cross-validation, ensuring the accuracy and reliability of information [3] Group 4: Future Directions and Technological Integration - The company is exploring remote due diligence methods to enhance efficiency and reduce operational costs [4] - Plans are in place to leverage data and model capabilities throughout the entire credit process, with a focus on advancing intelligent approval systems [4]