– For the six months ended June 30 2019, revenue amounted to RMB3,539.1 million, represented an increase of 44.2% YOY;
– Profit for the period represented an increase of 11.9% YOY to RMB728.5 million.
– Total assets exceeded RMB90,000 million and reached RMB90,357.2 million, representing an increase of 10.0% as compared with December 31, 2018.
– Net assets exceeded RMB15,000 million and reached RMB15,577.7 million, representing an increase of 20.6% as compared with December 31, 2018.
During the Reporting Period, despite declining market demand, intensive industry competition and substantial financial risks, the Company was able to maintain the stable growth of profits and further optimized its asset structure in the first half of the year. Its total revenue amounted to RMB3,539 million, representing increase of 44.2% year-over-year; net profit was RMB729 million, representing an increase of 11.9% year-over-year. Adjusted weighted average return on net assets was 11.38%. As at June 30, 2019, the Company’s asset quality remained stable and its non-performing asset ratio was 0.96%. The Company had strong risk prevention capabilities and its allowance coverage ratio was 334.66%.
During the Reporting Period, the Company achieved important breakthroughs in various aspects. On June 3 2019, the Company was successfully listed on the Main Board of the Stock Exchange, which has further increased its capital strength and supported the implementation of strategies and future development of the Company. As at June 30, 2019, its total assets exceeded RMB90,000 million and reached RMB90,357 million, representing an increase of 10.0% as compared with December 31, 2018; net assets exceeded RMB15,000 million and reached RMB15,578 million, representing an increase of 20.6% as compared with December 31, 2018.
The outstanding performance was mainly attributable to the the best practices of Haitong UniTrust’s customer-oriented, services and products innovation. At the same time, the company has a high-quality and diversified customer base, efficient and complementary multi-dimensional business model, comprehensive and prudent risk management, rich financing channels and strong financing capabilities, as well as a solid shareholder background, experienced and far-sighted senior management team and advanced talent management system.
At present, the company’s business development is balanced and advanced side by side, the income scale has achieved rapid growth. Among which, the main income is generated from the finance lease business, accounting for more than 70%. Income from finance lease of the Group for the first half of the year increased by 48.9% to RMB2,516 million from the same period last year. In the first half of 2019, the operating lease income increased by 187.3% year-over-year to RMB212 million. As at June 30, 2019, the Group owned 12 aircraft and plans to gradually expand the scale of aircraft leasing business in the future. The factoring business also brought about RMB163 million in revenue to the company in the first half of 2019. Benefiting from the rapid development of various businesses, the company’s revenue scale has continued to a high-speed growth. The company’s revenue amounted to RMB3,539 million, represented an increase of 44.2% for the same period last year. The company’s customers are widely distributed in transportation, logistics, industry, infrastructure, construction and real estate, and medical and other industries. An increasingly balanced industry layout provides sufficient momentum for the company’s long-term sustainability.
In addition, the balance of interest-earning assets of the company also increased rapidly, from about RMB42.5 billion in 2016 to about RMB70.6 billion in 2018. At the end of June 2019, it increased further to about RMB78.3 billion, an increase of 10.9% from the end of the previous year. And the comprehensive yield of the company reached 8.94%. While promoting rapid business development and improvement of comprehensive revenue, the company continuously improve operational efficiency and optimize cost-to-income ratio. In the first half of 2019, the cost-to-income ratio was only 10.4%, with significant operational efficiency advantage.
Haitong UniTrust as China’s first listed brokerage background finance leasing company listed on the Hong Kong stock exchange recently, the company has won many honors, and was awarded the title of China’s most influential financial leasing company and China Financing Leasing Company of the year. In the first half of 2019, Haitong UT Leasing HK Limited, the subsidiary, was awarded “Overall Deal of the Year Lessor” and “Best New Chinese Leasing Entrant” for 2018 by Airfinance Journal.
Looking forward, the Group will pay close attention to the development of domestic and international economic conditions and uncertainties while maintaining its strategic strengths. The Group will embrace challenges and grasp new opportunities for further development so as to create greater rewards for the benefit of shareholders.
About Haitong UniTrust International Leasing Co., Ltd.
Haitong UniTrust International Leasing Co., Ltd. is a large and fast-growing financial leasing company in China. As the sole leasing platform and one of the key strategic segments of Haitong Securities, a leading securities firm in China, the Company offers customer oriented and innovative financial services to a diverse group of customers across various industries by leveraging the investment banking expertise of the senior management of the Company. The Company strives to become the foremost PRC financial leasing company that leads industry innovation and boasts competitive edges in the capital market. The Group has been adhering to its role as a financial service provider of the real economy and has been grasping favorable opportunities arising from the major transformation of economy of China. The Group has also pursued the operating strategies of “cross-border thinking, promoting innovative development, strengthening its capacity and grasping business opportunities”. Based on its customer strategy of maintaining a balanced customer base, the Group has provided tailored services to a wide range of customers, including large- and medium-sized enterprises, micro- and small-sized enterprises and retail customers. The Company has continued to provide innovative and comprehensive financial products and services to customers in transportation & logistics, industrial sector, infrastructure, construction & real estate, health care and other industries by implementing the best practices of investment banking and strengthening the collaboration with its parent company, financial institutions and industry alliance partners. The Company has formed a competitive advantage with unique securities firm characteristics, including coordinated allocation of resources and assets and balanced growth of business scale and income.
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