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Public company info - China Huirong Financial Holdings Limited , 01290.HK
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China Huirong Financial Holdings Limited, 01290.HK - Company Profile
Chairman Wu Min
Share Issued (share) 1,088,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry Other Financials
Corporate Profile Business Summary: The Group is principally engaged in lending services through granting collateral-backed loans, guaranteed loans and unsecured loans to customers in the People’s Republic of China (the ‘‘PRC’’).as well as consultancy and insurance agency services. Performance for the year: The total equity as at 31 December 2019 was RMB1,948.4 million, representing an increase of RMB51.4 million or 2.7% as compared with that as at 31 December 2018. Business Review： 1.1 Inclusive Finance Business Division Inclusive finance business division conducts its business through platforms such as Suzhou Wuzhong Pawnshop Co. Ltd* (蘇州市吳中典當有限責任公司) (“Wuzhong Pawnshop”) (the largest pawnshop in Mainland China in terms of paid-up registered capital of RMB1,000 million), Suzhou Wuzhong District Dongshan Agricultural Microfinance Co., Ltd.* (蘇州市吳中區東山農村小額貸款有限公司) (“Dongshan Micro-finance”) (a company with paid-up registered capital of RMB300 million and partially owned by local government), Suzhou Huifang Rongtong SME Guided Turnover Loan Fund (Limited Partnership)* (蘇州匯方融通中小微企業轉貸引導基金合伙企業(有限合伙)) (“Huifang Rongtong”) (a company with paid-up registered capital of RMB100 million, and partially owned by a state-owned enterprise), Suzhou Huifang Tongda Information Technology Company Limited (蘇州匯方同達信息科技有限公司) (“Huifang Tongda”) (a company with paid-up registered capital of RMB500 million). Such division operates inclusive finance business by adhering to inclusive finance principle of small scale and decentralization and has attached great importance to risk prevention and control. Major products under this division include secured loans (including real estate backed loans and personal property backed loans), unsecured loans (including equity interest backed loans, guaranteed loans and other unsecured loans) and entrusted loans, which focus on solving problems of short-term business turnover of SMEs and personal shortterm capital turnover. The business of inclusive finance business division has covered over several core cities including Suzhou, Chengdu, Wuhan and Hefei, and is striving to become a leading service provider of inclusive finance in the PRC. 1.2 Technology Finance Business Division The technology finance business division is a new business division established in 2019, mainly dedicated to four major operations including technical lending facilitation, technical factoring, supply chain management and Hong Kong operation. Functioning as a new strategic business division of the Company and with the support of technologies such as cloud computation, big data and blockchain, the business division focuses on providing technical loan facilitation services including intelligent decision making engine, user analysis, real-time risk control, electronic contract, intelligent customer service to small and medium-sized commercial banks and online financial platforms. 1.3 Online Lending Intermediary Business Division In order to diversify its business and expand its income stream, on 8 January 2015, the Group formally launched its online “peer-to-peer” lending (“P2P Lending”) platform, namely Suzhou Qian Dai (www.suzhoumoney.com), which forms its online lending intermediary business division. 1.4 Insurance Brokerage Business Division On 19 June 2018, the Company acquired Suzhou Huifang Anda Insurance Agency Company Limited* (蘇州匯方安達保險代理有限公司) (“Huifang Anda”), formerly named as Nanjing Shun’an Insurance Agency Company Limited* (南京舜安保險代理有限公司) and established its insurance brokerage business division. Huifang Anda, the operation of which covers property insurance, credit letter insurance, liability insurance, personal insurance and others, has actively integrated its resources with local government and insurers and developed a brand-new insurance operating model through breaking through the traditional business pattern of insurance industry and combining with the internet and diversified insurance brokerage concepts. Prospects: Inclusive Finance Business Division: Firstly, on the basis of consolidation of small-amount dispersed property-guaranteed loan business, the Company will proactively explore the cooperative mode to loan facilitation, and solve the deficiency of funds for expansion of property-guaranteed loan business. Meanwhile, efforts will be made to strengthen cooperation with external asset management companies, remove the overdue assets out of the balance sheet, further revitalize funds, and create the whole chain of sound development of property-guaranteed loan business; secondly, the Company will grasp opportunities to specialize in the featured business of sub-loan funds, focus on business risks, strengthen cooperation with banks and rural governments, reinforce top marketing, expand business regions along the trend, and proactively promote the expansion of sub-loan fund business across regions. Technology Finance Business Division: The Company will stably promote the development of the lending business with technology, establish the big data risk control system that can withstand testing, and improve the market competitiveness; introduce state-owned assets into sci-tech factoring business, reinforce capital fund and shareholders’ superiority, and create opportunities for bank financing. In addition to traditional receivables factoring business, efforts will also be made to explore business models such as consumer finance and supply chain finance. Internet Lending Intermediary Business Division: Under the guidance of the regulators, the internet lending intermediary platform of Suzhou Qian Dai was actively seek compliance transformation to make efforts to obtain licenses for online smallamount loans. It strives to become a licensed online lending institution. Insurance Brokerage Business Division: Following the tenet of “Credit, Responsibility, Specialty and Compliance”, the Company will make full use of the superiority of equity participation by state-owned assets, and obtain the insurance projects paid or subsidized by the finance or funded by district or state-owned assets, or the existing insurance projects of the district government. Meanwhile, the Company will independently explore customized products, seek for continuous flow of cooperation, dig the superiority of internal resources, and give full play to the strength of flexible types of operation.

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