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Public company info - Huashi Group Holdings Limited , 01111.HK
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Huashi Group Holdings Limited, 01111.HK - Company Profile
Chairman ZHANG Zhaoxing
Share Issued (share) 973,000,000
Par Currency
Par Value 0.0
Industry Banks
Corporate Profile Business Summary: The Bank is engaged in the provision of banking and related financial services. Performance for the year: Operating profit after impairment allowances amounted to HK$1,725 million, a decrease of 23.28% year-on-year. Profit before tax was 23.00% lower than 2019 to HK$1,757 million. Profit attributable to equity owners amounted to HK$1,480 million, a decrease of 22.13% over that of last year. Business Review: CORPORATE BANKING Chong Hing Bank endeavours to provide a full range of banking products and professional services to its corporate customers in Hong Kong and the Mainland, including lending, trade finance, cash management, cross-border business solutions and financial market products. The Bank constantly expands its target customer base, focusing on providing diversified and comprehensive financial services to its customers in the Guangdong-Hong Kong-Macao Greater Bay Area (the “Greater Bay Area”). To support local SMEs, apart from backing the HKSAR Government’s “SME Loan Guarantee Scheme” and “SME Financing Guarantee Scheme” offered by HKMC Insurance Limited, the Bank has launched and enhanced other SME relief measures in response to the pandemic. These include delaying implementation of the clean-up clause of revolving loans and overdraft facilities, extending expired term loan repayments or instalment payments, and extending principal repayment period for trade financing facilities. The Bank also fully supports the “Pre-approved Principal Payment Holiday Scheme” launched by the Hong Kong Monetary Authority together with the “Banking Sector SME Lending Coordination Mechanism”, and provides support for the “Special 100% Loan Guarantee” under the “SME Financing Guarantee Scheme”. By this means, the Bank aims to alleviate cash flow pressures on its customers and help local SMEs cope with the challenging business environment. Meanwhile, the Bank strengthens its internal cross marketing and offers corporate customers more value-added services such as financial management for employees, MPF services and wealth management, facilitating corporate customers to access its one-stop banking services platform. As for the syndicated loan business in 2020, the Bank offered 32 loans in total, for seven of which the Bank acted as the lead arranger and bookrunner, while 12 of the loans were club loans. The number of transactions and amount of handling fee income both reached a record high since the Bank’s establishment of the syndicated loan business in 2017. To further strengthen the platform for all-round development of the syndication loan business, the Bank set up a syndication agency team and was successfully awarded with two mandates. Meanwhile, the Bank proactively enhanced the quality of the loan asset portfolio and improved relevant returns via secondary market transactions. The Bank also seized the cross-border business opportunities brought about by the Greater Bay Area development and offered 24 cross-border structured finance transactions totalling HK$6.5 billion. Being an integrated commercial bank offering cross-border expertise and leveraging on its competitive edge in network interaction between Hong Kong and the Mainland, the Bank provided a variety of cross-border financial products and services. These are designed to accommodate customers’ funding requirements in the Greater Bay Area and effectively manage their interest rate and exchange rate risks through the Bank’s treasury product portfolio. PERSONAL BANKING The COVID-19 outbreak has depressed global and local economies and negatively affected the branch operations and business development of retail banks. To protect the health and safety of its customers and employees, the Bank adopted a series of special arrangements and measures throughout its branch operations. These included the temporary shortening of branch business hours, checking the temperature of every person upon entering branches, and providing pandemic prevention supplies. The Bank’s marketing communications with customers shifted to online and to telephone conversations, while customers were encouraged to use internet banking service channels. These measures enabled the Bank to continue providing quality banking services during the pandemic. In the challenging environment, the Bank strived to establish a customer-oriented business model of comprehensive wealth management as well as to provide one-stop personal banking services to customers in Hong Kong and the Mainland. In 2020, the personal banking business continued to develop in a stable manner. Looking ahead, the Bank will continue to enhance its wealth management business and optimise its electronic service platforms, in order to improve customer experience and provide efficient and professional banking services to its customers. FINANCIAL MARKETS BUSINESS The Bank is committed to developing its financial market business as an important profit centre. During the year, the Bank secured significant growth in areas such as treasury business, customer selling and product development. The Bank has established its proprietary trading business and, while keeping risks under control, enhanced its ability to provide quotations and expanded its market share, thereby continuing to increase revenue. Regarding its treasury business, the Bank aims to optimise its balance sheet by effectively applying a variety of financial instruments while complying with established risk appetites and risk limits to ensure a safe liquidity level. The Bank has continued to leverage on its dynamic investment strategies and to capture potential treasury business opportunities to diversify revenue sources. As part of its strategic planning, the Bank has progressively strengthened its product and marketing team by hiring well-experienced financial experts, enriched its financial products, and offered pertinent advice and services that cater to the needs of different customer segments, thereby increasing its market competitiveness and fee income. MAINLAND OPERATIONS In 2020, the Bank’s Mainland branches and sub-branches actively responded to the COVID-19 pandemic and the severe and complex external economic situation, maintaining a good momentum of steady but progressive overall operations. Throughout the year, the Bank’s assets and liabilities grew steadily, with enhanced profitability, a consolidated customer base, improved products and services, more efficient internal processes, good asset quality and upgraded risk resilience. The business advantages of the Bank’s Mainland institutions continued to strengthen. Based on the financial business secured in Guangdong, Guangzhou and Hengqin, the Shantou Branch successfully won the tender for the value-added and value preservation project of the local social security fund. Meanwhile the Guangzhou Branch successfully achieved a breakthrough in financial business at the regional level, and the deposit scale of Mainland institutions reached a new high. The Bank’s corporate business in the Mainland continued to achieve comprehensive development. By strengthening the marketing of key customers and the management of lending customers, increasing the settlement ratio of existing customers and handling cross-border business, the Bank maintained good growth in corporate deposits. At the same time, it broadened the sources of credit customers, actively adjusted the investment of loans and continuously optimised the loan structure, accelerated the progress of product development, enhanced professional service capabilities and increased fee income. The Bank’s Mainland institutions closely tracked financial market updates, carefully followed the progress of bond investment, continued to optimise the investment structure and enriched the product portfolio. By this means, it effectively enhanced its financial market business and revenue while achieving a number of financial market business breakthroughs. In early 2020, the Guangzhou Branch, as the branch of a foreign bank in China, completed the first underwriting and issuance of local government bonds. At the same time, the Guangzhou Branch received regulatory approval for its derivatives trading business and was admitted to the interbank foreign exchange market as a derivatives member. In addition, the Shenzhen Branch and Guangzhou Branch gained approval to join the bond market of the stock exchange, with the Shenzhen Branch being the first branch of a foreign bank in China admitted to the exchange bond market. Mainland institutions of the Bank have improved the quality of their electronic services, as reflected in faster growth in online banking transactions and transaction amounts, steady growth in direct connections between banks and enterprises, and the successful launch of the bank-enterprise reconciliation system. Meanwhile, the Bank also launched the “financial services platform for supply chain” in December, providing comprehensive financial services to core corporate customers and their upstream and downstream suppliers, such as placing orders, transferring, financing and withdrawal. The Bank actively leveraged its strengths in integrated finance and cross-border financial services to meet the cross-border needs of its customers. During the year, the Bank launched a loan service for Hong Kong and Macau residents who were purchasing properties in the Mainland. The Nansha Sub-branch was the first to set up a “full electronic commercial registration service zone” in the region to provide effective services to Nansha investment customers. The Bank further improved its network in the Greater Bay Area with the opening of the Foshan Chancheng Sub-branch and the Dongguan Sub-branch in February and December 2020 respectively. The Bank has ten institutions in the Mainland now, achieving a presence in major core cities in the Pearl River Delta and Yangtze River Delta. The Bank was also on track in preparing for the establishment of a wholly-owned banking subsidiary in Mainland China. CHONG HING SECURITIES LIMITED With the global financial markets and economy severely hit by the pandemic in 2020, the governments of various countries went all out to rescue their economies and launched a number of stimulus measures, resulting in a significant increase in market capitalisation and a vibrant investment atmosphere in the securities market. This, coupled with the entry of various new economy stocks and the return of China concept stocks into the IPO market, led to a continuous increase in trading volume in the Hong Kong stock market, resulting in a 75% growth in trading volume and a 62% increase in commission income for Chong Hing Securities compared to the same period in 2019. In November 2020, Chong Hing Securities launched a new “Chong Hing Securities Mobile App” to provide customers with more comprehensive and faster access to stock market information and investment opportunities. In addition, Chong Hing Securities will collaborate with Chong Hing Bank to launch a mobile banking application for remote securities account opening. This new service will help to attract new customers and generate business growth for Chong Hing Securities. CHONG HING INSURANCE COMPANY LIMITED The unexpected pandemic has brought pressures to the business operations of many sectors in Hong Kong, and also affected the development of the general insurance market. However, driven by its prudent operations, Chong Hing Insurance’s gross premiums and pre-tax earnings remained stable during the year, and its performance was good overall. Given the availability of COVID-19 vaccines, economic activities are likely to resume and the general insurance market will also improve. In respect of non-insurance income, while Chong Hing Insurance strives to maintain stable interest income in the persistent low interest rate environment, it will also explore investment opportunities in order to achieve better business performance. CHONG HING INSURANCE BROKERS LIMITED Chong Hing Insurance Brokers Limited, a subsidiary of the Bank, was incorporated in September 2019, and officially opened in July 2020 to engage in the Hong Kong regulated insurance brokerage business. Being the agent of the “Proposed Policy Owner”, Chong Hing Insurance Brokers searches for suitable insurance solutions from different insurance companies according to customers’ insurance and financial needs. Chong Hing Insurance Brokers will make every effort to expand its service to middle/high-end individual and corporate customers in Hong Kong and the Greater Bay Area, and assist them in buying long-term life insurance in Hong Kong. Prospects: The year 2021 is the opening year of China’s “14th Five-Year Plan”, as well as the first year of Chong Hing Bank’s five-year development plan. Under the uncertain development of the pandemic and global economic instabilities, the Bank will continue its operation in a prudent and pragmatic manner, actively monitor and overcome the pandemic and other risks, optimise its business structure and accelerate its digital transformation. By that means it will improve its capability in comprehensive financial services for thriving in circumstances where both opportunities and challenges exist, laying the basis for a highquality development when the pandemic is over. Given the promising prospect of China’s economic development based on solid foundation, and the Bank’s gradual expansion in its network of outlets across the Mainland, as well as its continued steady progress towards establishing a wholly-owned banking subsidiary in Mainland China, Chong Hing Bank’s development is set to scale new heights.

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