Home » China Huarong: Achieved a net profit of 158 million yuan in the first half of the year, solvency remained stable

China Huarong: Achieved a net profit of 158 million yuan in the first half of the year, solvency remained stable

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In the evening of August 29th,GuohuaRong released the first half of 2021Performancereport. In the first half of 2021, ChinaGuohuaAccelerate risk disposal, revitalize inefficient assets, and maintain stable liquidity. The main financial indicators showed positive changes.In the first half of the year, the total revenue was 46.063 billion yuan, an increase of 0.8% year-on-year;shareholderofNet profit158 million yuan.

Among them, the non-performing asset management segment achieved a total income of 27.045 billion yuan in the first half of the year, and a pre-tax profit of 5.767 billion yuan, accounting for 134.2% of the group’s total pre-tax profit. The financial services segment achieved a total revenue of 16.744 billion yuan in the first half of the year, and a pre-tax profit of 3.496 billion yuan, which remained basically stable. The asset management and investment segment achieved total revenue of 4.84 billion yuan, a year-on-year increase of 6.6%, a pre-tax loss of 4.190 billion yuan, and a year-on-year decrease of 1.437 billion yuan. The financial indicators of Huarong Trust and Huarong International improved.

The core advantages of the main business have been continuously enhanced. In the first half of the year, the main business of non-performing assets continued to maintain steady development, and revenue and structure were further optimized. The acquisition and disposal business completed the first single-account acquisition of corporate non-performing assets and personal loan non-performing assets, and continued to accelerate the disposal of stock assets. In the first half of the year, assets were disposed of 12.416 billion yuan, with an additional acquisition cost of 11.418 billion yuan, and the total amount of assets disposed of exceeded the additional acquisition cost. ; Realized disposal income was 3.896 billion yuan, an increase of 77.9% year-on-year, and the built-in return rate of closed projects was 14.5%, which remained at a relatively high level.AcquisitionReorganizationSuch businesses closely followed the national strategy to optimize the layout, and implemented regulatory requirements to reduce non-financial housing and other projects. In the first half of the year, the revenue was 15.211 billion yuan, still maintaining a large revenue contribution.debtConversionThe contribution of business profitability increased significantly, net income increased year-on-year, the disposal of policy debt-to-equity assets accelerated, and net disposal income was 273 million yuan; the market-oriented debt-to-equity swap business achieved revenue of 1.263 billion yuan in the context of continued fluctuations in the capital market.

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Asset quality continued to be consolidated.middleGuohuaRong Rong continued to carry out risk recovery, seized market opportunities to speed up the disposal, and the effect of risk resolution was obvious, and it made every effort to reduce the ultimate loss. In the first half of the year, the confirmed credit impairment loss was 7.920 billion yuan, a year-on-year increase of 30.3%, mainly due to the acquisition and restructuring of non-performing debt assets, customer loans and advances, and other debt assets based on their risk profile and confirmed impairment losses based on the expected credit loss model . As of the end of June, the balance of impairment reserves for acquisition and restructuring of non-performing debt assets and other debt assets was 143.103 billion yuan, a decrease of 0.8% from the end of the previous year. The provision ratio increased from 16.5% at the end of 2020 to 17.3%, and the risk buffer remained reasonable.

Solvency remains stable. In the first half of the year, with the support of various financial institutions,China HuarongResponding to changes in the situation steadily, financing channels and financing costs were stabilized, domestic and foreign bonds were redeemed on schedule, and the group’s liquidity was stable. As of the end of June, the group’s loan balance was 781.985 billion yuan, an increase of 0.5% from the end of the previous year; bonds and bills payable were redeemed on schedule, and the ending balance was 284.967 billion yuan, a decrease of 15.4% from the end of the previous year. In the first half of the year, the group’s borrowings and interest payments on bonds and bills payable were RMB 23.261 billion, a year-on-year decrease of 5.2%.

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(Source: China Securities Network)

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