Laser Finance News On August 27, A-share listed company Yuxin Technology (300674) released its 2020 semi-annual financial report, disclosing the performance of Hubei Consumer Finance in which it invested.
According to the financial report, Hubei Consumer Finance’s revenue in the first half of the year was 551 million yuan, a year-on-year decrease of 15.88%; net profit was 0.04 billion yuan, a year-on-year decrease of 92.86%; total assets were 8.591 billion yuan, a year-on-year decrease of 4.18%; total liabilities were 7.114 billion yuan, a year-on-year decrease of 3.69 %.
According to an enterprise search, Hubei Xiaojin was established in April 2015 with a registered capital of 940 million yuan. In May of this year, the capital increase and share expansion of Hubei Consumer Finance was approved. The shareholders include Hubei Bank Co., Ltd. (holding 31.91%) and Xinjiang Teesdata Information Technology Co., Ltd. (hereinafter referred to as Teesdata) (holding 24.47%) , Beijing Yuxin Technology Group Co., Ltd. (holding 12.77% shares), TCL Group Co., Ltd. (holding 10.64% shares), Wind Information Technology Co., Ltd. (holding 10.64% shares), Wuhan Shanglian (Group) Co., Ltd. The company (holding 4.79% shares), Wuhan Wushang Group Co., Ltd. (holding 4.79% shares).
Among them, TESCO is a wholly-owned subsidiary of Jiufu, which also means that Jiufu Curve has invested in Hubei Xiaojin and has become its second largest shareholder.
▲Source: Official website of China Banking Regulatory Commission
Laser Finance believes that the introduction of Jiufu as a new shareholder is the way for Hubei Consumer Finance to break the problem of its poor performance in the past two years.
On the one hand, Hubei Consumer Finance can take advantage of Jiufu’s advantages in capital scale, user flow, consumption scenarios, and financial technology to give full play to the value of consumer finance licenses to better transform online consumer credit business; on the other hand, Jiufu The curve obtains the consumer finance license, while assisting the construction of online scenarios, increasing the proportion of institutional funds in the loan assistance business, and exporting financial technology solutions to Hubei Consumer Finance.