Summary by Futu AI
China China China Motor Co., Ltd. (CRRC) issued on March 28, 2024 a continuing risk assessment report on its wholly-owned subsidiary China-Car Finance Limited. The report shows that, as a non-bank financial institution, China Financial Limited has established a sound internal control system and risk management system since its establishment in 2012 and conducts its business in strict compliance with relevant laws and regulations and internal processes. As of December 31, 2023, the financial company had total assets of RMB 4.671 billion and net profit of RMB22.49 billion. Its operations and risk management are in good condition and regulatory indicators are in compliance with regulatory requirements, with a capital adequacy ratio of 16.10%, a liquidity ratio of 62.71% and a lending ratio of 41.18%. The report also points out that the deposit loan business with the associated parties is within the prescribed limits, demonstrating the company's ability to control risk. The business management and risk management situation of Medium-Sized Car Finance Limited has been confirmed by CRRC that there are no significant defects.