WEMONEY RESEARCH ROOM, DIGITAL FINANCE WEEKLY, ANT MONEY WILL ACHIEVE A NET PROFIT OF 152 MILLION YUAN IN 2023

1. Banks

1. Supervise and issue documents to regulate the Internet lending business of three types of banks, including joint-stock banks

Recently, in response to the problems existing in the development model, risk management, and protection of consumer rights and interests of the Internet loan business, the national financial regulatory department issued the Notice on Further Regulating the Internet Loan Business of Three Types of Banks, including Joint-stock Banks, aiming to promote the healthy development of the Internet loan business and better serve the real economy. The circular requires the three types of banks to establish a sound business philosophy, improve the business governance system, adhere to the whole process management, and improve their independent risk control capabilities; select cooperative institutions with strong financial capabilities, high risk control levels and good market evaluation; strengthen the management of cooperative institutions to protect the legitimate rights and interests of consumers. 【WEMONEY LABORATORY】

2. Bank of Tianjin's deposits decreased by 4 billion yuan in the first quarter

Recently, the operating results of the first quarter of this year released by Bank of Tianjin showed that the bank's customer deposits in the first quarter were 446.678 billion yuan, a decrease of 4.008 billion yuan, or 0.89%, from the beginning of the year. In this regard, Bank of Tianjin said that the main reason is that the bank continued to reduce high-cost deposits, and the average interest payment rate of customer deposits decreased by 22 basis points compared with 2023, which affected the growth of various deposits to a certain extent. 【WEMONEY LABORATORY】

3. Ping An Bank achieved a net profit of 14.932 billion yuan in the first quarter, an increase of 2.3% year-on-year

On April 19, Ping An Bank announced that in the first quarter of 2024, the bank achieved operating income of 38.770 billion yuan, a year-on-year decrease of 14.0%, and a net profit of 14.932 billion yuan, a year-on-year increase of 2.3%. At the end of March 2024, the bank's total assets were 5,729.398 billion yuan, an increase of 2.5% from the end of the previous year. 【WEMONEY LABORATORY】

4. Bank of Jiangsu's net profit in 2023 increased by 13.25% year-on-year to 28.750 billion, with a non-performing rate of 0.91%

On the evening of April 25, Bank of Jiangsu released its 2023 annual report. According to the annual report, in 2023, Bank of Jiangsu achieved operating income of 74.293 billion yuan, a year-on-year increase of 5.28%, and net profit attributable to shareholders of listed companies of 28.750 billion yuan, a year-on-year increase of 13.25%. The weighted average return on equity was 14.52%. In terms of asset quality, as of the end of 2023, Bank of Jiangsu's non-performing loan ratio was 0.91%, and the provision coverage ratio was 378.13%. The capital adequacy ratio was 13.31%. 【WEMONEY LABORATORY】

5. Two independent directors of Bank of Xi'an overstayed their appointments, and the Shaanxi Securities Regulatory Bureau ordered them to make corrections

On the evening of April 25, Bank of Xi'an announced that the bank received the "Decision on Ordering Corrective Regulatory Measures against Bank of Xi'an Co., Ltd. and Liao Zhisheng" issued by the Shaanxi Supervision Bureau of the China Securities Regulatory Commission on the same day, mainly involving the issue of two independent directors of the bank exceeding their term of office. In the announcement, Bank of Xi'an apologized for the impact of the delay in adjusting the independent directors on Liao Zhisheng and Ju Guoyu, and said that it would actively rectify and adjust the independent directors as soon as possible. 【National Business Daily】

2. Consumer Finance

1. Ant Spending will achieve a net profit of 152 million yuan in 2023 and total assets of nearly 240 billion yuan

On April 26, Chongqing Ant Consumer Finance Co., Ltd. disclosed its 2023 annual report. According to the annual report, in 2023, Ant Consumer Finance will complete two consecutive rounds of capital increase to 23 billion yuan, and has fully undertaken the Huabei and borrowing businesses from Chongqing Small and Micro Loans and Chongqing Shangcheng Small Loans. As of the end of the fiscal year, Ant Money's total assets were 239.669 billion yuan, a year-on-year increase of 125.61%, and its total liabilities were 216.728 billion yuan, a year-on-year increase of 120.12%. During the reporting period, the company achieved a net profit of 152 million yuan. 【WEMONEY LABORATORY】

2. In 2023, Jincheng Consumer Gold will achieve a net profit of 261 million yuan and net assets of 1.77 billion yuan

On April 24, Bank of Chengdu released its 2023 annual report, and the results of Jincheng's consumer finance were also released. According to the data, in 2023, Jincheng Consumer Finance will achieve an operating income of 1.066 billion yuan, a year-on-year increase of 3%, and a net profit of 261 million yuan, a year-on-year increase of 1.95%. As of 2023, Jincheng Consumer Finance has total assets of 13.09 billion yuan and net assets of 1.77 billion yuan. The registered capital is 420 million yuan. 【WEMONEY LABORATORY】

3. In 2023, Suyin KGI will achieve a net profit of 389 million yuan and net assets of 4.766 billion yuan

On the evening of April 25, Bank of Jiangsu released its 2023 annual report, and the results of Suyin KGI Consumer Gold were also released. According to the data, in 2023, Suyin KGI will achieve a net profit of 389 million yuan, a year-on-year increase of 143.13%. As of 2023, the total assets of Suyin KGI will be 38.654 billion yuan, and the net assets will be 4.766 billion yuan. According to public information, Suyin KGI Consumer Finance Co., Ltd. was established in March 2021 with a registered capital of 4.2 billion yuan. 【WEMONEY LABORATORY】

4. Shangcheng Consumer Finance will achieve a net profit of 229 million yuan in 2023, a year-on-year increase of 81.75%

On the evening of April 25, Bank of Shanghai announced its 2023 annual report, and the performance of its Shangcheng consumer finance was also released. According to the data, in 2023, Shangcheng Consumer Finance will achieve an operating income of 1.718 billion yuan and a net profit of 229 million yuan, a year-on-year increase of 81.75%. As of the end of 2023, the total assets of Shangcheng Consumer Finance reached 21.392 billion yuan, a year-on-year increase of 59.82%, and the balance of loans was 20.122 billion yuan, a year-on-year increase of 54.61%. 【WEMONEY LABORATORY】

5. The equity of Jincheng Consumer Gold has changed greatly, and the new shareholders of the state-owned assets department have jumped to the third

Sichuan Jincheng Consumer Finance Co., Ltd., a veteran consumer finance company, ushered in a change in the shareholder structure, with both new shareholders entering the market and old shareholders "leaving". A few days ago, the national enterprise credit information publicity system showed that there was a change of "investor" in Jincheng Consumer Finance. Judging from the specific information, there was a change in the list of shareholders before and after the change. Before the change, Chengdu Tianfu Software Park Co., Ltd. invested 6.69 million yuan, and Kaifeng Financial Leasing (Hangzhou) Co., Ltd. invested 79.80 million yuan. After the change, Chengdu Tianfu Software Park Co., Ltd. invested 86.49 million yuan, and Kaifeng Capital withdrew from the list of shareholders. 【Southern Metropolis Daily】

3. Fintech

1. Lakala's net profit in the first quarter of 2024 was 208 million yuan, down 19% year-on-year

Recently, Lakala Payment Co., Ltd. released its first quarter report for 2024. During the reporting period, in the first quarter, the company achieved payment business income of 1.299 billion yuan, a year-on-year increase of 2%, of which fee income increased by 6% year-on-year, net profit after deducting non-recurring gains and losses was 229 million yuan, a year-on-year increase of 23% and a month-on-month increase of 159%, and net profit attributable to shareholders of the parent company was 208 million yuan, a year-on-year decrease of 19% due to the high investment income in the same period last year. 【WEMONEY LABORATORY】

2. Lufax achieved operating income of 6.964 billion yuan in the first quarter of 2024

On April 23, Lufax Holdings released its financial report for the first quarter of 2024. According to the report, in the first quarter of 2024, the company achieved operating income of 6.964 billion yuan, a year-on-year decrease of 31%, and a net loss of 830 million yuan, compared with a net profit of 732 million yuan in the same period last year. Ji Kuisheng, co-CEO of Lufax Holdings, said that the main reason for the net profit loss in the first quarter was the 234% year-on-year increase in income tax caused by special dividends, excluding the impact of income tax, and the pre-tax profit in the first quarter was 450 million yuan. Through agile operations and cost control, the company's total expenses decreased by 27% year-on-year. 【WEMONEY LABORATORY】

3. Lianlian Digital released its 2023 financial report: total revenue was 1.028 billion yuan, a year-on-year increase of 38.4%

On April 25, Lianlian Digital, a Hong Kong-listed company, released its 2023 annual report. According to the annual report, in 2023, the total payment volume ("TPV") of LianLian Digital's digital payment services will reach 2.0 trillion yuan, a year-on-year increase of 73.5%, and the number of active customers served will be 1.3 million, a year-on-year increase of 50.8%. In terms of finance, Lianlian Digital recorded a total revenue of 1.028 billion yuan in 2023, a year-on-year increase of 38.4%. 【WEMONEY LABORATORY】

4. Tenpay completed the industrial and commercial change of capital increase to 15.3 billion

According to the Tianyancha App, recently, Tenpay Payment Technology Co., Ltd. has undergone industrial and commercial changes, and the registered capital has increased from 1 billion yuan to 15.3 billion yuan. In March this year, the official website of the People's Bank of China showed that it agreed to increase the registered capital of Tenpay to 15.3 billion yuan. The company was established in August 2006, the legal representative is Zheng Haojian, and its business scope includes e-commerce, electronic payment, payment settlement and clearing system technology development. According to shareholder information, the company is jointly held by Shenzhen Tencent Computer System Co., Ltd. and Shenzhen Century Triumph Technology Co., Ltd. 【Tianyan Check】