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Public company info - Haosen Fintech Group Limited , 03848.HK
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Haosen Fintech Group Limited, 03848.HK - Company Profile
Chairman Lo Wai Ho
Share Issued (share) 156,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry Other Financials
Corporate Profile Business Summary: The principal activities of the Group are (i) provision of financial leasing, factoring and financial advisory services, small loans and related loan facilitation services in the People’s Republic of China (the “PRC”); and (ii) provision of investment management and advisory services, securities dealing and broking services and money lending business in Hong Kong. Performance for the year: Profit for the year increased by approximately RMB18.4 million, or approximately 79.8%, from approximately RMB23.0 million for the year ended 31 December 2018 to approximately RMB41.4 million for the year ended 31 December 2019. The revenue recorded an increase by approximately 136.8% from approximately RMB83.0 million for the year ended 31 December 2018 to approximately RMB196.6 million for the year ended 31 December 2019. Business Review: Year 2019 was a challenging year in the macro environment in the PRC. In 2019, direct pressure has been exerted on financial market in China by the financial deleverage reform which directly increased the market interest rate in the PRC. In addition, Sino-US trade friction brought more uncertainties to the market and therefore slowed down the economic growth in the Mainland China. As most of the Group’s customers are SMEs which are less risk resilient to the adverse changes in the market conditions and the economic environment, the management will continue to monitor the impacts of relevant factors on the Group's business operation. During the aforesaid reporting period, the revenue of the Group was mainly derived from financial leasing interest income, factoring service income, loan facilitation service income, loan interest income, and advisory services income, accounting for approximately RMB42.5 million, RMB18.0 million, RMB43.5 million, RMB89.2 million and RMB2.3 million of the total revenue of the Group, respectively. In view of the negative impact from the financial market in the PRC, the Directors took a prudent approach from the risk control perspective in signing new contracts with the Group's potential customers. As a result of the acquisition of equity interests in Shenzhen Haosen Credit Joint Stock (Limited) Company* (深圳市浩森小額 貸款股份有限公司) (“Shenzhen Haosen”), the Group recorded an increase in revenue deriving from the new loan facilitation service income and loan interest income for the year ended 31 December 2019. The Directors anticipated sound and steady growth given the acquisition of the aforementioned microfinance company, which expanded the Group’s sales channel and enabled the Group to allocate internal resources in a more efficient manner. The Group benefits from the synergy effect from the acquisition of the microfinance company. Currently, the Group is able to provide not only financial leasing, factoring and advisory services to its corporate customers, but also small loans to individual customers and other small private companies, which helped to broaden the Group's customer base. The Group offers flexible financing services to potential customers in line with their respective scales and industries. The Directors expect the acquisition of Wealth Ton Finance Group Limited (“Wealth Ton”) and its subsidiaries (collectively, “Wealth Ton Group”), which was completed on 5 July 2019, to create cohesion and broaden the Group's income source, and further, enable the Group to diversify its business portfolio and allow the Group to expand its operation and investments to the financial market in Hong Kong. The Directors believe that it is essential for the Group to maintain the Group's success by enlarging the Group's customer base, expanding the Group’s business to multiple markets, and keeping satisfactory relationships with the Group's customers and banks. Prospects: In 2020, the Group will continue with current prudent approach, effectively controlling cost and conservatively promoting business amongst high calibre customers to adapt to this challenging environment. The Group will continue to enhance risk management capabilities, develop business with existing and new customers in industries with growth potential. The Directors believe that, the Company will be devoted to providing flexible financing services such as financing leasing services, factoring services and small loans to various small and medium enterprises, and continue to give play to its superiority in the business network, in order to further expand the customer base and increase the returns of the Company. The major customers of the Company are mainly in the mainland China. At the beginning of 2020, COVID-19 epidemic had significant impacts on the production and operation of small and medium enterprises in the mainland China. The Company will flexibly adjust its operating strategies in continuous response to the situations of customers. The Directors believe that, it is key and effective manner under the complicated economic environment for the Company to strengthen the resource allocation among each business department of the Group, give play to the synergy effect of subordinate companies, and promote the digitalized business transformation of the Company.

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