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Public company info - Flying Financial Service Holdings Ltd. , 08030.HK

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Flying Financial Service Holdings Ltd., 08030.HK - Company Profile
Chairman Zheng Weijing
Share Issued (share) 1,731,000,000
Par Currency Hong Kong Dollar
Par Value 0.1
Industry Other Financials
Corporate Profile Business Summary: The Group currently engages in provision of pawn loans, entrusted loans, finance lease services, other loans and financial consultancy services. Performance for the year: For the year ended 31 December 2016, the Group’s revenue increased by approximately 166.5% from approximately RMB108.5 million for the year ended 31 December 2015 to approximately RMB289.2 million. Business Review: Investments in property development projects The Group commenced its business of investment in property development projects during the year ended 31 December 2015. As at 31 December 2016, the Group had invested in thirteen (2015: four) property development projects in, among others, Dongguan, Shenzhen, Fujian, Xiangyang and Wuhan in the PRC. As at 31 December 2016, the Group had invested the property development projects which were classified as available-for-sale investments with aggregated investment amount of RMB419.0 million (2015: RMB98.0 million). Some of the property development projects had brought considerable returns to the Group for the year ended 31 December 2016. During the year ended 31 December 2016, the Group generated investment income and relevant financial consultation services income from the property development projects of approximately RMB135.1 million and RMB65.3 million, respectively (2015: approximately RMB45.0 million and RMB20.4 million, respectively). Financial services platforms On 30 September 2015, the Company completed its acquisition of 51% indirect interest in 深圳市融鑫電子商務有限公司 (Shenzhen Yongxin Electric Commerce Company Limited*), a project company operating a financial service platform, “匯理 財”. Additionally, “匯聯易家” (www.hlej.com), a financial service platform website for the PRC real estate industry, officially commenced operations on 29 December 2015. There are three major channels under “匯聯易家”: (1) “匯有房”, a channel for professional services in property finance; (2) “匯生活”, a channel for professional services in community finance; and (3) “匯理財”, a channel for professional services in financial management. Among others, 匯理財 is the most active financial services platform of the Group during the year ended 31 December 2016. Number of registered members of 匯理財 was approximately 578,000 as at 31 December 2016, among that, increment of approximately 380,000 contributed during the year ended 31 December 2016. The transaction value of 匯理財 achieved RMB2.2 billion for the year ended 31 December 2016 (from October 2015 to December 2015: RMB327.4 million). During the year ended 31 December 2016, the Group generated platform services income and relevant financial consultation services income from the financial services platform of approximately RMB30.4 million and RMB40.4 million, respectively (2015: approximately RMB5.3 million and RMB6.8 million, respectively). Prospects: The Group sees challenges and opportunities in 2017. As the PRC government launched a number of policies on cooling down property market, controlling exchange, tightening capital and increasing interest rate in 2017, the Group may put more resources and effort to explore opportunities amid challenges, with an aim to achieve success in stability. Meanwhile, as Internet economy has become more important in the structural reform of China’s economy, the Group is confident in the industry outlook and our performance in 2017. In particular, the Group will adhere to the following: Focusing on Consumer Finance Services • Establishing consumer finance and technology platform to principally elevate the value of our consumer credit business. • Developing mortgage services to overseas property buyers with domestic property developer by fully taking advantage of the synergies created by the Group, Country Garden and foreign buyers, providing the property buyers with the services they required. Focusing on Assets Management Development • Jointly developing quality property projects in Shenzhen and Wuhan with Country Garden. Focusing on Development of Finance Lease Business • Developing construction machinery leasing business. • Developing leasing and factoring business for large-scale property developers with sales of over RMB10 billion.

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