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2023年中期业绩实录|科技和消费转型成功,首惠产业金融(0730.HK)迈入快速成长阶段

2023 Interim Results Record|Technology and Consumption Transformation Succeeded, and Shouhui Industrial Finance (0730.HK) Entered a Stage of Rapid Growth

Gelonghui Finance ·  09/18/2023 17:49

September 1, Shouhui Industrial Financial Services Group Co., Ltd. (hereinafter referred to as "First benefit industrial finance") hold the 2023 interim results conference. Sun Yajie, chairman of the board, and Liang Hengyi, managing director, attended the meeting.

2023 is the first year for Shouhui to build a supply chain financial technology platform after the transformation of industry and finance, and the company shows a good momentum of development.In the first half of the year, the company's revenue was HK $100 million, the main business cost was HK $46.28 million and the net profit was HK $30.12 million, while the profit attributable to the parent company was HK $22.406 million, a sharp increase of 141% over the same period last year.

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Through this results conference, we can get a glimpse of the latest development trend of Shouhui Industry and Finance:

The transformation of science and technology and consumption has been successful, and the operating benefits have been revealed one by one.

Dismantling the composition of the business, we can see that the coordinated development of technology and consumer business provides a strong support for the company's performance growth.

(1) the scale of science and technology services in the supply chain is growing rapidly.

In the first half of the year, supply chain technology services had revenues of HK $11.2 million and profit margins of 46 per cent. It is mainly due to the rapid growth of Beijing ticket business and the formation of a preliminary scale.

At the performance meeting, the management announced several performance highlights: by the end of June, the opening scale of Beijing tickets was 5.13 billion yuan, with an average monthly invoice size of more than 1 billion yuan; the financing scale was 3.68 billion yuan; and there were 1858 registered suppliers of the platform. the registered funds of the platform include Shougang Commercial factoring Company and China CITIC Bank Corporation Co., Ltd.

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The company meets the financing needs of customers in the upper and lower reaches of the industrial chain in different business scenarios. The management said that it is developing to meet the business needs of the upstream and downstream of the iron and steel industry chain and the business and products of external enterprises of Shougang Group, and to solve many problems such as financing difficulties of small and medium-sized enterprises in actual business scenarios through product diversification.

(2) the transformation of financial leasing service from B-end to C-end consumption.

In the first half, financial leasing services had revenues of HK $86.5 million and a profit margin of 40 per cent. The financial leasing business relies on the accumulation and accumulation of Nanfang International Leasing Co., Ltd., a subsidiary of the company.From the original single B-end business to the mixed business model of "B-side + C-side".

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The B-end business is mainly to serve the iron and steel industry chain and the upstream and downstream, and the related party B-end project delivery scale is 2. 5%. 9.2 billion yuan, external B-side project delivery scale is 1. 5%. 800 million yuan.

The C-end business mainly focuses on 3C consumption such as mobile phones, with a scale of 639 million yuan and 90322 individual customer transactions by the end of June this year.

Management said that the financial leasing sector to strengthen business risk control and expected revenue management, while bringing sustained, stable and considerable profit support for the company.

(3) the strategic determination of coordinated development makes the management benefit appear year by year.

The successful transformation of the company has significantly optimized the cost structure, with the main cost falling by 40 per cent to HK $46.27 million in the first half of the year. Administrative and financial costs fell sharply, with administrative expenses falling 14 per cent year-on-year to HK $20.303 million. Financing costs fell from 2.33 million Hong Kong dollars in the same period last year to 87. 5 percent in the first half of this year. 50,000 Hong Kong dollars.

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In addition, gross margin in the first half rose 14 per cent year-on-year to HK $53.743 million.

Management said that with the gradual release of subsequent economies of scale and appropriate increase in financial leverage, the company will continue to dilute fixed costs, the profitability of financial leasing services, supply chain technology services, and profit margins will be further improved.

Continue to deepen the transformation and build a supply chain financial technology platform

Looking forward to the future, the strategic planning and development thinking of Shouhui industry and finance are clear.

First, under the coordinated development, we should adopt the plan of "two advances and two retreats".Supply chain science and technology services, as the focus of future development, make sustained and strategic investment; financial leasing services are stable and continue to enrich the business ecology; property leasing services, gradually and orderly withdrawal; spot trade business, has been completely stopped in the second half of 2022.

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The second is to form a supply chain financial technology platform with the characteristics of the combination of industry and finance.As the direction of the company to continue to deepen the transformation and adjustment of the main business, the platform links assets on the one hand and funds on the other, more and more businesses will enter the company's development vision in the future.

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In terms of assets, on the industrial asset side, it focuses on the industrial assets of related parties and the assets of the upper and lower reaches of the steel industry chain, while paying attention to the relevant high-quality assets of other enterprises; on the consumer asset side, it includes mobile phone leasing assets that have already been carried out, other 3C consumer goods that are being actively docked, and other types of consumer assets.

In terms of capital, the company actively connects different types of financial institutions to provide adequate financial guarantee for business needs in different scenarios in the future. It can be seen that by building a supply chain financial technology platform, the company can continue to expand its main business transformation advantages.

Q & An in question

Q1:Can you give a detailed description of the company's strategic positioning and future business focus and development plan?

A1:The company has formulated a five-year development plan, and the strategic positioning is basically clear, mainly to form a supply chain financial technology platform with the characteristics of the combination of industry and finance.

First of all, link funds on the one hand and assets on the other. On the asset side, around the upstream and downstream scenes of iron and steel enterprises, the scene within the company's region; on the capital side, including banks, securities firms, leases, etc., the company creates a "financial supermarket" to provide financial services.

On the science and technology side, as a science and technology company, we will continue to increase investment in science and technology, strengthen the construction of high-tech infrastructure, provide financial technological innovation, introduce high-end technical personnel, strengthen technological cooperation between industry and research, integrate scientific and technological resources, and accumulate intellectual property rights. finally enhance the company's scientific and technological competitiveness.

In the future, the company will promote the formation of supply chain finance and the coordinated development model of consumer leasing through optimization and integration. At present, it is in the initial stage of development, and there is room for a substantial increase in gross profit margin. As the company meets the needs of more resident customers, the performance and profit performance of technology services will be improved. In addition, "B-end + C-end" leasing attaches equal importance to development, while appropriately increasing financial leverage to meet financing needs so as to increase the company's profits.

Q2:Will the company jump out of the scope of Shougang Group and expand to the outside in the future? If so, where is the company's competitiveness compared with other similar platforms?

A2:Based on Shougang Group in the short term, the company will continue to innovate financial products and improve product atlas in the most familiar industrial scenes to adapt to more industrial scenarios. In the rhythm of development, it will run through the supply chain, broaden the industrial chain and further serve the ecological circle. In this process, first accumulate scientific and technological strength, and then improve operational capacity, choose the opportunity to expand the market to other industries and regions.

The competitiveness of the company lies in its advantages in three aspects. First, it has a flexible market mechanism and employment mechanism; second, it has a professional team, including both industrial experts and high-end financial science and technology talents; and third, as a company that has been listed and has an industrial background, the operation and imagination of the capital market may be relatively rich.

Q3:What is the impact of global economic fluctuations and downturns on the company's existing business? Will the company consider adjusting its business planning again based on its predictions of the future economic environment?

A3:Over the past eight years, the company has made a lot of attempts and explorations in business, but there are three "unchanged" in the underlying logic.

With the industry as the support, keep the business diversification around the core enterprises unchanged; increase the investment in science and technology platform, data-driven, block chain technology to reduce the best adjustment cost of supply chain finance, with a cumulative capital investment of more than 50 million yuan in recent years; comply with the national development policy, give full play to industrial and regional advantages, with the industrial background of Shougang Group, and the business is mainly located in Beijing, Tianjin, Hebei and Shenzhen.

The global economy is volatile and downward, but opportunities and crises coexist, and companies have the ability to turn crises into new opportunities in the process of transformation.

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
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