WEMONEY RESEARCH OFFICE · DIGITAL FINANCE WEEKLY REPORT | YISHENG PAYMENT WAS FINED 5.55 MILLION YUAN

1. Banks

1. In the first half of 2024, Bank of Nanjing's net profit increased by 8.51% year-on-year, and the provision coverage ratio decreased by 15.56 percentage points

Bank of Nanjing released its 2024 semi-annual report on August 1. During the reporting period, the company achieved operating income of 26.216 billion yuan, an increase of 7.87% over the same period of last year; The net profit attributable to shareholders of the parent company was 11.594 billion yuan, an increase of 8.51% over the same period of the previous year, and the bank was also the first bank in the A-share market to disclose its 2024 semi-annual report. According to the financial report, at the end of June 2024, the total assets of Bank of Nanjing were 2.48 trillion yuan, an increase of 194.545 billion yuan or 8.50% from the end of the previous year. The total amount of loans was 1.21 trillion yuan, an increase of 107.633 billion yuan or 9.79% from the end of the previous year. The total liabilities were 2.30 trillion yuan, an increase of 187.022 billion yuan or 8.84% from the end of the previous year. The total deposits were 1.42 trillion yuan, an increase of 49.022 billion yuan or 3.58% from the end of the previous year. 【WEMONEY LABORATORY】

2. Personnel inventory of state-owned banks in the first half of the year: industry, agriculture, communications, and construction were all changed to "post-70s" presidents

So far in 2024, there have been changes in the senior management of many listed banks. ACCORDING TO WEMONEY'S RESEARCH OFFICE, AMONG THE 6 STATE-OWNED BANKS AND 9 LISTED JOINT-STOCK BANKS, THERE HAVE BEEN CHANGES IN THE SENIOR MANAGEMENT OF 8 BANKS, INCLUDING INDUSTRIAL AND COMMERCIAL BANK OF CHINA, BANK OF CHINA, CHINA CONSTRUCTION BANK, EVERBRIGHT BANK, AND HUAXIA BANK. From the perspective of the reasons for the change, they mainly include job transfer and retirement at the age of retirement. It is worth noting that among the new incumbents, younger people have become a major trend, and many "post-70s" and "post-75s" have become "successors". 【WEMONEY LABORATORY】

3. Zhao Weixing's qualification to serve as the president of Fumin Bank was approved

On July 29, the Chongqing Supervision Bureau of the State Administration of Financial Supervision and Administration approved the qualifications of Zhao Weixing as a director and president of Chongqing Fumin Bank Co., Ltd. According to public information, Zhao Weixing, born in 1975, has a master's degree in applied economics from Shanghai University of Finance and Economics, and has more than 20 years of experience in banking management and Internet finance. Zhao Weixing has been working in traditional banks for more than 10 years, and has been responsible for retail, small and micro and corporate businesses in various banks. After that, he successively worked for Ant Financial, MYbank, Xinwang Bank, Xiaomi Finance, Hualin Securities and other institutions. 【WEMONEY LABORATORY】

4. Song Xuefeng and Wang Yefang were approved to serve as the chairman and president of Weihai Blue Ocean Bank

On July 29, the Shandong Regulatory Bureau issued the "Reply of Shandong Financial Regulatory Bureau on Approving the Qualifications of Song Xuefeng of Weihai Blue Ocean Bank" and "Reply of Shandong Financial Regulatory Bureau on Approving the Qualifications of Wang Yefang of Weihai Blue Ocean Bank", approving the qualifications of Song Xuefeng as chairman of Blue Ocean Bank and the qualifications of executive director, vice chairman and president of Wang Yefang Blue Ocean Bank. 【Financial Frontline】

5. After nearly a year of vacancy, Bank of Zhengzhou will welcome its first female president

After 11 months of vacancy, the new president of Bank of Zhengzhou is about to be decided. The bank's personnel exclusively learned that Li Hong, vice president of the Beijing branch of the Postal Savings Bank, has joined the Bank of Zhengzhou and intends to serve as president. According to the announcement of Bank of Zhengzhou, on August 30, 2023, due to work adjustments, Zhao Fei (who has been promoted to chairman) resigned as president, and Vice President Sun Haigang performed the duties of president on his behalf. Since then, the position of president of Bank of Zhengzhou has been vacant until now. 【Financial Personnel】

2. Consumer Finance

1. The issuance amount refreshed a new monthly high in the year! Consumer finance companies issue financial bonds intensively

A number of consumer finance companies are working together to issue financial bonds. According to incomplete statistics, since July, a total of 7 consumer finance companies have issued a total of 11.6 billion yuan of financial bonds, and the amount issued has refreshed a new monthly high this year. For consumer finance companies, the issuance of financial bonds can strengthen the company's capital capacity while broadening diversified financing channels, reducing the cost of capital, thereby promoting the decline of interest rates on asset-side products, and better playing the role of promoting household consumption and helping the real economy. 【China Business Daily】

2. In the first half of 2024, Nanyin Faba will achieve a net profit of 725 million yuan and a net asset of 5.16 billion yuan

On the evening of July 31, Bank of Nanjing released its performance report for the first half of 2024, and the performance of Nanyin Faba Consumer Finance Co., Ltd. was also released. According to the data, in the first half of 2024, Nanyin Faba Consumption Gold achieved operating income of 2.049 billion yuan, a year-on-year increase of 102.68%; The net profit was 725 million yuan, a year-on-year increase of 54.38%. As of the first half of 2024, the total assets of Nanyin Faba Consumer Gold are 46.11 billion yuan, and the net assets are 5.16 billion yuan. As of the end of the first half of 2024, the balance of on-balance sheet loans was RMB43.982 billion, an increase of RMB12.451 billion or 39.49% from the beginning of the year. 【WEMONEY LABORATORY】

3. Suyin Consumer Gold has undergone personnel changes, and has just issued the first phase of financial bonds of 1 billion

Recently, according to the national enterprise credit information publicity system, Suyin KGI Consumer Finance Co., Ltd. (hereinafter referred to as "Suyin Consumer Finance") has undergone industrial and commercial changes. Specifically, the positions of the former supervisor Xu Qinghua and the former director Wang Jian were replaced, and the director Tian Zuoquan and the supervisor Wang Yakai withdrew from the main personnel and were replaced by Ge Chaohao and Wang Zhe. According to public information, Suyin Consumer Gold was established in March 2021 with a registered capital of 4.2 billion yuan, and is a licensed consumer financial institution jointly initiated and established by four shareholders, namely Bank of Jiangsu, Taiwan KGI Commercial Bank, Heilan Home and Five Star Holdings, holding 56.44%, 37.63%, 4.64% and 1.29% of the shares respectively. Xu Qinghua and Wang Jian in this personnel change are from shareholders Heilan Home and Five Star Holdings, respectively. A few days ago, Suyin Consumer Gold successfully issued the first phase of financial bonds in 2024, with an issuance scale of 1 billion yuan and a coupon rate of 2.15%, which is the first financial bond issued by Suyin Consumer Gold. It is understood that Suyin Consumer Gold intends to issue financial bonds in installments within the registered quota of no more than RMB 6.5 billion, and this bond is the first phase within the quota with a bond maturity of 3 years. 【Blue Whale Finance】

4. China Post Consumer Finance issued 1.5 billion yuan of financial bonds

Recently, China Post Consumer Finance disclosed the announcement of the first phase of financial bond issuance in 2024. According to the announcement, the issuance scale of the financial bonds is 1.5 billion yuan, and the term is three years. Judging from the operating data, China Post Consumer Finance has shown a strong growth momentum. In the past three years, its operating income has increased from 5.686 billion yuan to 6.952 billion yuan, and its net profit has increased from 1.229 billion yuan to 522 million yuan, with a year-on-year growth rate of 14.93% and 17.83% in 2023, respectively. In terms of asset scale, the total assets expanded from 44.422 billion yuan to 58.222 billion yuan, with a compound annual growth rate of 14.48%; The total amount of loans and advances also increased from 42.193 billion yuan to 55.582 billion yuan, with a compound annual growth rate of 14.77%. 【WEMONEY LABORATORY】

3. Fintech

1. The Yongyi payment license was traded, and it rose by 300,000 yuan in 3 years

According to the website of Ningbo Public Resources Trading Electronic Service System (Yongyi Sunshine), the auction of 65.5% of the state-owned equity of Zhejiang Yongyi Electronic Payment Co., Ltd. (hereinafter referred to as "Yongyi Pay"), a third-party payment institution, has been recently sold. The transaction shows that the appraisal price, starting price and transaction price of Yongyi paying 65.5% of the state-owned equity are all 118.27335 million yuan (about 118 million yuan), and the buyer is Zhejiang Jinkai Technology Co., Ltd. (hereinafter referred to as "Jinkai Technology"). According to the estimated transaction price, the total valuation of Yongyi Pay is about 180 million yuan. 【Mobile Payment Network】

2.360 IOUs are upgraded to Qifu IOUs

On August 2, the U.S. and Hong Kong dual-listed fintech company Qifu Technology (NASDAQ: QFIN; HKEX: 3660) announced that its core product "360 IOU" will be upgraded to "Qifu IOU". While maintaining consistency with the company's brand Qifu Technology, Qifu IOU will accelerate the platformization, enrich the financial service matrix, and provide users with daily inclusive financial services. According to reports, in the future, Qifu IOUs will be parallel to 360 IOUs to meet the phased needs of users. The person in charge of Qifu Technology said that the upgraded Qifu IOU will not only bring users a smoother user experience and safer privacy protection, but also launch a total scale of up to 10 billion yuan of quota increase plan and more cost-effective products and activities to provide users with tangible benefits [Securities Daily]

3. The Beijing Financial Exchange terminated the local financial asset trading business

On July 31, the Beijing Financial Assets Exchange issued the Announcement on the Termination of Local Financial Assets Trading Business. According to the announcement, the Beijing Financial Exchange will no longer carry out the general financial exchange () business, including the transfer of non-listed state-owned property rights and the transfer of non-performing assets, and will complete the closing of the stock business within a time limit. 【China Securities Journal】

4. Yisheng was fined 5.55 million yuan

On August 1, the administrative penalty information released by the Tianjin Branch of the People's Bank of China showed that Yisheng Payment Co., Ltd. was arrested for "1. Failing to set up a settlement account of the acquiring bank in accordance with the regulations; 2. Failure to manage bank card acceptance terminals in accordance with regulations", was warned by the regulator and fined 2.15 million yuan; Due to "1. Failure to handle the fund settlement of special merchants in accordance with regulations; 2. Failure to implement the real-name management system for special merchants in accordance with regulations; 3. Failure to implement the management of small and micro merchant acquiring business in accordance with regulations; 4. Failure to set up a settlement account of the acquiring bank in accordance with the regulations; 5. Failure to handle public disclosure of major matters in accordance with regulations; 6. Failure to handle major matters for the record in accordance with regulations", was warned by the regulator and fined 3.4 million yuan. 【Beijing Business Daily】