- ISIN KYG2523M1087
- Land Hong Kong
Credit China FinTech Holdings Limited
Credit China Announces 2015 Interim Results Internet Finance Business Continues to Show Strong Momentum
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Date: 11 August 2015 (11 August 2015, Hong Kong) Credit China Holdings Limited (“Credit China” or the “Company“; together with its subsidiaries, the “Group“, stock code: 8207), the leading internet finance service provider in China, announced its interim results for the 6 months ended 30 June 2015 (the “Period”). Internet finance business revenues more than double to account for nearly 60% of the Group’s total revenues During the Period, the Group recorded revenues of approximately RMB139 million, down 18.8% as compared with RMB172 million in the same period of 2014. Profit attributable to owners of the Company amounted to approximately RMB37.2 million, down 15.8% as compared with RMB44.2 million in the same period last year. The revenue drop was mainly due to increased resources on internet marketing and operation, talent recruitment and a gradual scaling down of traditional financing activities as a result of the Group’s transition to internet finance sector. Nevertheless, the internet finance business recorded strong growth during the period. Online third-party payment service and P2P loan services generated revenues of RMB56.7 million and RMB21.9 million respectively, skyrocketed by approximately 252.1% and 321.2% as compared to the same period last year to account for approximately 40.7% and 15.8% of the Group’s total revenues respectively. The number of active users of the Group’s online third-party payment service and online P2P platform “Financial Workshop” hit 1,084,748 and 72,000 respectively. Proactive business expansion by mergers and acquisitions and establishment of strategic partnerships Mr. Phang Yew Kiat, Vice-Chairman and Chief Executive Officer of Credit China, said, “It’s been nearly two years since the Group transitioned to an internet financial enterprise. With online third-party payment service and P2P loan services as its core, the Group has been sharpening its competitive edge and accomplished rapid business growth by various mergers and acquisitions activities. During the Period, the Group completed a number of acquisitions, including acquisitions of a 10% share in First P2P Limited and the entire interest in Beijing Phoenix Credit Management Corporation in January; acquisition of a 49% share in Hainan Pioneer Internet Microfinance Limited in March; and acquisition of a 51% share in Zhejiang Rongniu Capital Management Company Limited in May. These newly acquired businesses enable the Group to provide more diversified services and expand market share to further strengthen its leading role in the internet finance industry.” In the first half of 2015, the Group has successively established strategic partnerships and formed joint venture companies with Five Star Holdings Group Co., Ltd and Aisidi Co., Ltd. to proactively expand its development of supply chain finance services and explore high-quality internal supply chain projects. Embracing opportunities from “Internet Plus” action plan Mr. Phang Yew Kiat summarized, “The internet finance industry has become a sector of national importance in tandem with the announcement of “Internet Plus” action plan by the Chinese Prime Minister Mr. Li Keqiang. A significant industry reform is imminent and the industry concentration will also be further integrated. Facing with the challenges and opportunities, the Group will continue to seek desirable mergers and acquisitions, establish close strategy cooperation partners with different institutions, and expand its loan portfolios for high-quality supply chain finance projects. The Group is confident in its ability to take the lead in the fiercely competitive internet finance industry next year. “ ~ End ~ About Credit China Holdings Limited (Stock code: 8207) Please subscribe to Credit China’s HK wechat account to keep abreast of regular updates on the Group’s business development. Company website: www.creditchina.hk This press release is released by PR ASIA Consultants Limited, on behalf of Credit China Holdings For more information or enquiries, please contact: End of Press Release +++++ Document: http://n.equitystory.com/c/fncls.ssp?u=BIIKCEGPCM Document title: Credit China Announces 2015 Interim Results Internet Finance Business Continues to Show Strong Momentum Key word(s): Quarter Results 11/08/2015 UTC+8 Dissemination of a Press Release, transmitted by EQS TodayIR – a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. Media archive at www.todayir.com |
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