Integrated finance is the leading provider of financing insurance services, non-financing insurance services and financing services in Foshan City, Guangdong Province. The company mainly provides integrated services to domestic enterprises, especially small and medium-sized enterprises, to help relevant enterprises improve their overall financing capacity and obtain funds for financial development. According to the Ipsos research report, according to 2012 earnings, the company's Chinese financial subsidiary company integrated insurance is the seventh largest provider of financing insurance services in Guangdong Province and the second largest in Foshan City. The company mainly provides financial insurance to small and medium-sized enterprises to help them obtain loans from banks or other financial institutions. After the establishment of a typical financing guarantee transaction, the company will provide guarantee for the amount provided by the financing agency to the company's customers and collect the guarantee for the insurance services provided. As collateral for warranty, the company will require customers and / or any third party to provide multiple counterinsurances to the company. In addition, the company provides insurance services for a number of financial products, including Foshan small and medium-sized enterprise ticket data (one of the first batch of similar tickets launched in China) and the development of small and medium-sized enterprise private placement.
We suggest that investors buy shares.
The company is in charge of
(1) the company has a rich and diversified management staff, as well as a strong staff; (2) the company has a mature management system; (3) the company can be recognized by a number of banking, financial and other institutions, and establish long-term cooperative relations with it; (4) the company's ability to provide multi-insurance services to meet customer needs.
Overview of the industry
The financing of small and medium-sized enterprises remains the main market for financing and insurance services. The number of small and medium-sized enterprises in China increased by about 4661% from about 3690 in 2007 to about 5410 in 2012, contributing to the growth of China's financial insurance service industry. The number of registered financial insurance service providers has increased significantly from 3729 in 2007 to 8590 in 2012. At the end of 2012, the total cost of financing, financing, insurance and insurance reached 1,459.6 billion yuan, an increase of about 14.5 percent in 2011. In 2011, financial insurance service providers have provided services to about 170,000 small and medium-sized enterprises.
From 2007 to 2012, the total value of financial insurance granted in Guangdong Province increased from 73 billion yuan to 236 billion yuan, with a combined annual growth rate of 26.4 percent. In 2012, the total value of financial insurance granted in the province accounted for about 7.5% of the total granted in China. In 2013, the expected value of financing insurance granted in China and the province increased by 20.0% and 20.8% respectively, while in 2012 it increased by 13.5% and decreased by 2.5%. Due to the market factors in 2012 (such as weak export demand affecting the business environment of small and medium-sized enterprises, and the financial difficulties caused by some major financing insurance companies in the province due to their irregular activities in 2012, it is expected that the default rate will increase slightly in the coming year, and the value of financing insurance granted in China and provincial provinces will continue to increase. Supported by the strong demand of small and medium-sized enterprises, it is estimated that the total value of financing insurance granted in China and the province from 2013 to 2016 will increase at a combined annual growth rate of about 20.0% and 21.0%, respectively.
The financial insurance service providers in the province are setting up their trust in order to enhance their market status. In 2012, the seven major providers of financial insurance services accounted for 28.7% of the total market revenue. In 2012, there were about 373 financial insurance service providers in Jiangsu Province and 37 in Foshan City.
Profit ability and duty number
The company's income increased by about 52.4% from 35.1 million yuan in 2010 to 53.5 million yuan in 2011. The increase in income from self-financing insurance is mainly due to: (I) the general increase in the number of financial insurance agreements signed during the year and those in previous financial periods; (ii) the share of deferred insurance income due to several insurance agreements concluded in previous years and lasting for a long time was recognized in 2011. (iii) it comes from the financing insurance service provided by the Foshan SME Trust Fund in 2011 and other SME development government cooperation programs. The profit attributable to shares increased by about 33.7% from 25.8 million yuan in 2010 to 34.5 million yuan in 2011, while the profit rate decreased slightly from 73.4% in 2010 to 64.5% in 2011. The slight decrease in the profit rate was mainly due to the increase in the operating expenditure of equipment and equipment estimated in 2011.
Collection purpose
HK $179 million (calculated at HK $2.30 per share) from this collection will be used for the following purposes: about 60% will be used to increase assets, capital and / or actual capital to enhance the company's operational capacity; about 30% will be spent on employment opportunities to further improve the existing services and services of large companies, and about 10% will be used for general financial resources of the company.
Valuation
The company's 2012 profit was 47.66 million yuan, with a price-to-earnings ratio of 11.9 to 18.5 times, a price-to-earnings ratio of 1.1 to 1.5 times, a price-to-earnings ratio of 10.0 times and a price-to-earnings ratio of 1.1 times, respectively. By contrast, the company's decision is not very attractive. In terms of market share, the company ranks seventh with a market share of 1.3% in Jiangsu Province, while it ranks second with a market share of 13.7% in Foshan. From the market share of each range, we can see that the size of the company is not very large, but the increased space will increase. The customers of the company are mainly small and medium-sized enterprises, and their prices are relatively high. This is why we should pay special attention to such incidents as those in Taiwan before the occurrence of Foshan or Shaanxi. We should be more careful. The profit rate of the company is very high, with a profit rate of 60% in the first three years. To sum up, in view of the favourable market conditions at that time and the favorable investment atmosphere, we suggest that investors should buy stocks.
Negative factor
(1) the company's temporary liquidity management system may not be able to fully protect the company from credit, liquidity, financial market or other securities; (2) the company may not be able to obtain sufficient financial resources to provide financial deposits to financial providers for protection and maintain a sufficient level of financial assets to provide large-scale financing insurance, thus affecting the company's operation and exhibition. (3) failure to maintain the company's reputation and brand name may have a significant adverse impact on the company's business; (4) the company's business operation depends on the cooperation agreement with a number of financing providers; (5) the demand for financial insurance services cannot be guaranteed to continue to grow. And because the company provides financing and non-financial insurance services and financial services to small and medium-sized enterprises in China (mainly Foshan), the company's performance depends on the performance of small and medium-sized enterprises (especially those in Foshan).