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Public company info - China Success Finance Group Holdings Ltd. , 03623.HK
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China Success Finance Group Holdings Ltd., 03623.HK - Company Profile
Chairman ZHANG Tiewei
Share Issued (share) 543,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry Other Financials
Corporate Profile Business Summary: The principal activities of the Group are the provision of guarantees, financial leasing, factoring and financial consultancy services. Performance for the year: For the year ended 31 December 2019, the Group’s revenue was approximately RMB69.0 million (year ended 31 December 2018: approximately RMB56.1 million), representing an increase of approximately 23.1%. The Group’s (loss)/profit before taxation decreased by approximately RMB486.6 million, or approximately 2,097.4%, from approximately RMB23.2 million for the year ended 31 December 2018 to a loss of approximately RMB463.4 million for the year ended 31 December 2019. Business Review: Guarantee Business In order to fully enact the “Regulation on the Supervision and Administration of Financing Guarantee Companies” and supervise institutions conducting financing guarantee business and the related industry, nine government departments including China Banking and Insurance Regulatory Commission (“CBIRC”) jointly issued the “Supplementary Provisions on the Supervision and Administration of Financing Guarantee Companies” in October 2019. According to which, institutions providing financing guarantee services without applicable business licenses, such as real estate guarantee companies and credit enhancement companies, were included into the supervision scheme. The government strictly implements license administration in financing guarantee industry for tighter regulation of the operation of financing guarantee market, towards a sound operation of the industry that will eventually better support the development of inclusive finance. In 2019, conforming to the dynamic trend in the market, Success Guarantee actively explored financial technology by devoting more resources, which turned into promising results. The number of customers and business scale grew more quickly compared with that of 2018. In the field of financial technology, Success Guarantee doubled its effort on expanding the business through measures including building a stronger technical team, optimising the business operation procedures and continuously upgrading the operating system. It also doubled its effort on broadening and deepening financial technology business through applying science and technology, with a view to providing customers with personalised products and services based on their diversified needs. Furthermore, in capturing the opportunities brought by national policies and the establishment of the Foshan Financing Guarantee Fund, Success Guarantee continued to develop traditional guarantee business and sustain volume, whilst proactively seeking technological solutions to explore new business models and improve its efficiency, thus gaining widespread market recognition and multi-party cooperation opportunities, and further expanding market share and improving core competitiveness. Financial Leasing and Factoring Business To strictly regulate the operation of financial leasing companies, integrate related operating and regulatory rules, and promote a stable and orderly development of the industry, CBIRC issued the “Interim Rules on Financial Leasing Companies (Draft for Comments)” in early January 2020, which includes four aspects namely improving operating regulations, implementing benchmark restrictions, launching case classification and reinforcing supervision and management. Followed by the policy promulgation, financial leasing companies should refocus on their main businesses and enhance their professional operating capabilities, in order to better achieve the capacity of the financial leasing service in assisting the development of manufacturing industry fostering industrial upgrading, and serving the real economy. In 2019, Success Financial Leasing gave full play to its integrated development advantages, along with the needs of constructing the Greater Bay Area, to further optimise the product structure, and provide customers with professional and specialise leasing and factoring services to clients, thereby satisfying the demand for financial leasing services in building the Greater Bay Area. Financial Consultancy and Housing Financing Business In response to market changes, the Group scaled down its financial consultancy business and gradually retreated from the housing financing business, while promptly reallocating resources into developing other new businesses. Developing Asset Management Business A number of comprehensive policies relating to the new asset management regulations were confirmed to launched in 2019. Leveraging its experience in asset management sector, the Group constantly enhanced its professional and specialised services and grasping the development opportunities arising from the industry reform pushed forward by the implementation of the new regulations. The Group capitalised on the distinct edge in terms of resources from Mainland China and Hong Kong, to propel its development of its asset management business and lift its competitiveness in the market. Developing Integrated Services for the Greater Bay Area The State Council issued “Outline Development Plan for Guangdong-Hong Kong-Macao Greater Bay Area” in February 2019, introducing a comprehensive plan for the strategic positioning, development goals, and spatial layout of the Greater Bay Area. Guangdong government issued “Implementation Suggestions on Developing Guangdong-Hong Kong-Macao Greater Bay Area” and “A 3-year Action Plan” in July 2019, entailing the official announcement of “Blueprint” and “Mission letters” for the construction of the Guangdong-Hong Kong-Macao Greater Bay Area. Seizing the opportunities to realise business advancement, the Group devised plans for the provision of integrated financial services in the Greater Bay Area beforehand, made use of the resources from both Mainland China and Hong Kong to actively provide professional and high-quality resource allocation services, and contributed to the construction of the Greater Bay Area. Reinforcing Cooperation Mechanism In 2019, the Group actively devised plans in the field of financial technology, fully explored diversified cooperation models, enriched product chains and established solid partnerships with an increased number of financial institutions and fintech companies. Through turning technology into one of its competitive edges, the Group managed to provide customers with comprehensive, efficient integrated financial services. Meanwhile, by utilising technological tools including the internet, big data and cloud computing, the Group successfully made constant improvements to its risk management system, boost efficiency in risk control, which will foster its business development and seek opportunities to pursue diversified cooperation. Strengthening through Investments, Mergers and Acquisitions In recent years, remarkable achievements have been made in the “Three Olds Redevelopment” in Guangdong Province. The provincial and local governments have successively introduced multi-pronged measures to optimise relevant policies, accelerated the utilisation of various urban construction lands with low efficiency, and increased the land output rate, thus facilitating a highquality economic development. In 2019, the Group made full use of the window of opportunity to make an equity investment in Success Science and Technology Innovation Park Project, which is one of the benchmarking projects of the Shunde Village-level Industrial Park, to enjoy the increasing economic value-added and social benefits brought about by the project upgrade of “Three Olds Redevelopment”. Coupled with its traditional advantages, the Group managed to further enhance its comprehensive strength. Prospects: Macro Outlook Looking forward to 2020, major economies will continue to face downward pressure, while monetary easing policies become ineffectual to stimulate economic recovery. Affected by the slowdown of major economies, other economies will find it challenging to achieve strong pickup. Factors including emergence and spread of negative interest rates, persistent trade tensions, turbulence in international financial markets, uncertain geopolitical risks and political conflicts in certain countries will negatively impact global economic development in 2020. In 2020, China will build a moderately prosperous society in all respects and conclude the “Thirteenth Five-Year Plan”, while three tough battles will enter the final stage. Building on its existing foundation and the impetus brought by reform and opening-up, China will strive to adhere to its new development strategy and push forward its supply-side structural reform. The government will also implement proactive fiscal policy and prudent monetary, employment, industry and regional policies, as well as doubling its efforts in “Six Stabilities”, which include promoting steady growth, encouraging reform, adjusting structure, improving livelihood, preventing risks and maintaining stability. Such initiatives are to ensure that China’s economy will grow at a reasonable level, in hopes of building a moderately prosperous society in all respects and bringing a successful closing to “Thirteenth Five-Year Plan”. Dragged by the coronavirus disease outbreak at the beginning of 2020, domestic consumption and investment will be dampened in short term, as unpredictable impact will be felt across certain industries. The Chinese government promptly launched a series of fiscal and tax measures to lend policy and financial support to overcome the epidemic and realise economic recovery. The longterm positive trend of China’s economy will sustain. In 2020, the downward pressure on the economy will remain but gradually alleviate, thanks to the positive impacts brought by cyclical factors and the counter-cyclical adjustment policy. In 2020, facing uncertainties in the domestic and international economic and financial industries, the Group will continue to forge steady development of traditional businesses, grow its asset management business, devise plan for the build-up of the Greater Bay Area and bolster the Group by means of investments, mergers and acquisitions, in order to enhance competitiveness and achieve high-quality development. Steadily Developing Traditional Businesses, while Actively Innovating Products The Group will seize opportunities to steadily develop traditional businesses, and actively respond to government’s policy in supporting micro, small and medium sized enterprises, through utilising operational channels such as guarantee, financial leasing and factoring, improving resource allocation and actively crafting new products, thereby enriching the Group’s capability to offer integrated financial services to micro, small and medium sized enterprises. For guarantee business, Success Guarantee will continue to explore and invest more in financial technology, closely follow the latest market trend, actively develop new products and build a diversified client base, while applying technology to optimise systems, refine risk management system and increase risk control efficiency. Meanwhile, riding on the favourable national policy and the establishment of Foshan Financing Guarantee Fund, Success Guarantee will continue to develop its traditional guarantee business. With micro, small and medium sized enterprises as target clients, the Group will strive to explore clients’ demand and launch a wider variety of new products, thus offering more comprehensive financial services to them. In terms of financial leasing and factoring business, the Group will continue to play to its strengths in resource allocation and provide customers with professional and specialised financial services on the construction demand of the Greater Bay Area. Developing Asset Management Business The year of 2020 is critical for China to accelerate opening-up of the financial market and implement new regulations on asset management, therefore an expedited reform is expected in the sector. In response, the Group will seize the development opportunities from industry restructuring under the implementation of new regulations, and adopt financial technology for the continuous improvement in product innovation and differentiation, thus meeting the requirements under fierce market competition in the new era. Propelling Integrated Services for the Greater Bay Area The Group will continue to grasp market opportunities and benefit from the policy change for the Greater Bay Area. It will also conduct strategic planning for providing integrated financial services in the Great Bay Area, whilst expanding comprehensive and diverse financial services to support enterprises in the area, as well as contributing in the construction of the Greater Bay Area, Strengthening through Investments, Mergers and Acquisitions In 2020, the Group will take market opportunities and adhere to its long-term development strategy to explore new investment opportunities by strategically setting up funds and through share purchases or acquisitions. The Group sets its sights on bolstering the integration of traditional industry construction and financial services, to explore new businesses and income in booming industries, thus elevating the Group’s overall strengths.

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