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Hanhua released 2015 annual report, completed plan of accelerating transformation

2016-03-29

Hanhua Financial Holding Co., Ltd. (hereinafter referred to as "Hanhua Financial", "Hanhua" or "the company", HKSE: 3903), which is listed in Hong Kong, released its 2015 results today. The company continued to adhere to the principle of steady operation and proper expansion in 2015, with total assets increasing 16.9% from a year ago to 13.961 billion yuan. Its revenue stood at 1.752 billion yuan in the year, with a net profit of 352.1 million yuan. Faced with the pressure that China’s macro-economy grew at a slower pace, Hanhua was still proactively supportive of the development of small- and medium-sized enterprises (SMEs), with outstanding SMEs loans rising 6.4% year on year to 4.3775 billion yuan by year end.    

 

Having forecast the negative impact of China’s slowly growing macro-economy, Hanhua strengthened risk control and adamantly adjusted business structure and exited from industries with overcapacity in 2015. All of its credit business sported steady performance and its assets were of steady quality. The subrogation rate of the guarantee business of the year was in line with that of 2014 at 1.9% and the outstanding impaired loans of the credit business decreased by 0.4% year on year to 227.5 million yuan.

 

 In 2015, Hanhua completed the plan of upgrading and transforming business while developed its existing business steadily. During the year, it signed a series of financial inclusion strategic cooperation agreements with Shenyang Municipal Government and the Financial Office of Liaoning Province, cooperated with Shenyang Municipal Government and launched the 700 milion yuan “Shuangchuang” fund and cooperated with six companies and established a property insurance company.  

 

 During the reporting period, the company made an investment into Shandong Financial Asset Exchange Center, kicking off an innovative cooperation mode of private financial inclusion institutions participating in the operation and management of local financial asset exchange center. The company also completed acquisition of Zhongli Insurance Sales Limited, formally making inroads into the field of Internet insurance.

 

Under the new strategic guidance of partner finance, platform finance and ecological finance, Hanhua will continue to strengthen multilateral cooperation, explore new business mode, continue to consolidate existing business, provide SMEs with diversified comprehensive financial services and set an example of financial inclusion in China in 2016.  


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