The company creates a "one main and two wings" pattern with pawnbroking, wealth management, leasing, guarantee and other financial business as the main body and trade and investment as the two wings. In terms of financial business, the company started with pawn business, has established the leading position in Zhejiang pawn industry in terms of credit and scale, and has developed steadily in leasing, guarantee and other fields. In the future, wealth management investment business will be an important business innovation of the company, and the company plans to carry out supply chain financial services, combined with trade business, and actively expand the market. For the first time, the coverage gives a "highly recommended-A" rating.
In 2015, the company's trade business grew rapidly, and all kinds of financial business developed steadily and continuously. Among them: 1) pawnbroking business income 77.18 million, down 7% from the previous year; 2) leasing business income 24.43 million, up 109% over the previous year; 3) guarantee business income 18.87 million, down 11% from the previous year.
Pawn: the leader of Zhejiang Province. Zhejiang Yuantai pawn and Xiangyide Banner pawn are the largest pawn companies in Zhejiang Province and Ningbo respectively. In 2015, in order to expand the exhibition area, we established a new pawn company in Shanghai and a branch office in Jiaxing, and accelerated the development of pawn business to optimize the structure. "small, fast and standardized products" are the main features of the company's pawnbroking business.
Guarantee: commercial performance guarantee is given priority to with low risk. Xiangyi guarantee is mainly engaged in commercial performance guarantee business (that is, engineering guarantee business, accounting for more than 90%). In 2015, the amount of corporate financing guarantee was 21 million, and that of commercial performance guarantee was 1.05 billion. At present, the guarantee company has a wide range of market resources and popularity in the Jiangsu-Zhejiang-Yangtze River Delta region, and occupies a certain market share.
Financial leasing: sustained and stable development. Xiangyi Leasing was established in February 2008, relying on the brand advantages of the parent company to carry out financial leasing business, obtained the qualification of financial leasing in 2013, covering the Yangtze River Delta and even the whole country. In 2015, the company signed 4 financial leasing contracts. At present, there are 11 existing and newly signed leasing projects, with a total contract value of 516 million.
Wealth management: an important innovation in future business. In 2014, the company first entered the wealth management business, with two platforms engaged in the business, namely Xiangyi Rongtong (Zhejiang) Investment and Shanghai Donghai Xiangyitong Capital Management. The investment plan released by the company in 2016 is no more than 1.2 billion yuan, the target market is mainly in Jiangsu, Zhejiang and Shanghai, and the business targets are mainly small and medium-sized enterprises and ordinary high net worth people.
Risk hint: the continued decline in economic growth leads to a reduction in financing demand.