Gome Fin Tech Announced Annual Results of 2023
2024年3月29日 - 3:36PM
JCN Newswire
Gome Finance Technology Co., Ltd.(Stock Code:628.HK,"Gome Fin
Tech"or "the Company",with its subsidiaries,the"Group"), announced
its audited annual results for the year ended 31 December, 2023
(the "Reporting Period").
In 2023, the global geopolitical risks are frequent, the lack of
economic recovery momentum and the widening trend of
differentiation among countries are highlighted, and the risk
spillover from European and US banks under the global high interest
rate environment also casts a shadow over the global growth
outlook. In the face of the risky international environment and the
arduous task of domestic reform, development and stabilisation, the
Chinese government has coordinated domestic and international
situations, effectively responded to the impact of the unexpected
factors, strengthened support for the real economy, continuously
optimised the structure of loan investment, improved the quality
and efficiency of credit services, and developed supply chain
finance with the strong support of national policies.
During the Reporting Period, the Group continued to focus on
technology-based finance as its strategic main line, further
explored the integration and development path between emerging
technology industry and supply chain finance industry, and
continued to strengthen its support to the real economy. The
Group's revenue increased by 2.24% to RMB82.0 million (2022:
RMB80.2 million), which was mainly attributable to the increase in
revenue from commercial factoring business. The Group recorded a
profit after taxation of RMB37million (2022: loss after taxation of
RMB5.6 million).
Optimizing asset and liability structure, commercial factoring
progressing steadily
The commercial factoring business, as the Group's principal
business with a well-established risk management system, grew
steadily in 2023 and contributed 92% of the Group's operating
revenue, despite the challenging external environment. In 2023, the
Group repaid bank borrowings in a timely manner and used the
Company's own funds as working capital, resulting in a significant
reduction in the gearing ratio,and the working capital was more
more sufficient. In addition, in recent years, the Group started to
grant longer loan period to certain high-quality customers in order
to increase its profitability and at the same time to maintain
credit risk at a low level. In 2023, the Group's commercial
factoring business steadily expanded its scale of operation, with
the average net loan balance increasing to RMB1.01 billion (2022:
RMB890 million), revenue increasing by 8.16% year-on-year to
RMB75.8 million, and segment profit increasing to RMB68.2 million
(2022: RMB58.4 million).
Additionally, during the Reporting Period, other financial services
within the Group were impacted by restrictions imposed by certain
mobile app stores on the content of deployed applications (Apps).
As a result, service fees for referral services decreased by 38.65%
to RMB6.2 million, while the other financial services segment
achieved a profit of RMB2.6 million.
The acquisition process was progressing systematically, and the
diversified synergy was poised for development
In addition, the Company is advancing the Proposed CashBox
Acquisition subject to, among others, the approval of the Company's
independent shareholders. The management expects to, through the
Proposed CashBox Acquisition, rely on the large and multi-regional
user resources of CashBox, combining with the Company's advantages
in internet technology, to create synergies for the Group's
business. The management believes that the Proposed CashBox
Acquisition will enable the Group to diversity its business, expand
its income stream and maximise returns for the shareholders.
Looking ahead, the Federal Reserve is expected to initiate an
interest rate reduction cycle around mid-year. In an external macro
environment characterized by easing inflation and stable growth,
global economic growth is poised for a "soft landing". China
continues to adhere to the principles of seeking progress while
maintaining stability, focusing on high-quality development, and
continuously fostering new productive forces. With frequent macro
policy adjustments and a flexible and precise monetary policy,
China provides robust support for stable economic operations.
Against this backdrop, we believe that the industry's development
in the coming year will benefit from additional favorable policies
driven by national strategies.
The management of GOME Financial Technology stated: "In 2024, the
macroeconomic situation is expected to improve. The relatively
relaxed financing environment is poised to inject more vitality
into the national economy and create opportunities for the
development of the Group. We will further explore the integration
and development paths of emerging technology industries and supply
chain financial industries. Additionally, we will continue to
enhance support for the real economy and private economy,
leveraging financial services to contribute to high-quality
development. While consolidating our core financial business, we
will also advance the Proposed CashBox Acquisition, enabling
diversified transformation and creating greater benefits for
shareholders."
About Gome Finance Technology Co., Ltd.
Gome Finance Technology Co., Ltd. (stock code: 628) is a publicly
listed company on the Hong Kong Stock Exchange. The Company's
vision is to "drive technological development through innovation
and revolutionize finance through technology." It actively expands
its strategic layout in the field of financial technology,
continuously enriches its product portfolio, gradually extends its
risk control services driven by big data and artificial
intelligence, and further enhances its comprehensive financial
services to provide efficient, convenient, and high-quality
financial services for customer.
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