Bad times lift Cinda
China Cinda Asset Management (1359), one of China's four largest bad-debt managers, posted a 17.9-percent increase in net profit to 14.03 billion yuan (HK$16.72 billion) last year.
A final dividend of 1.16 yuan per 10 shares was proposed with earnings per share standing at 39 fen.
Income from distressed debt assets classified as receivables, which is Cinda's core business, rose 4 percent to 18.884 billion yuan last year.
Investment income was also up by 49 percent to 13.533 billion yuan. This was mainly due to gains from selling financial assets and also a rise in dividend income from these assets, with the latter surging 155 percent to 2.722 billion yuan in the year.
Gross written premiums earned was up 25 percent to 13.854 billion yuan, mainly driven by life insurance policies sold by its subsidiary Happy Life.
The company said non-performing loans in banks are on the rise and higher default rate might be triggered amid an economic downturn this year.
Source: The Standard
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China Cinda Asset Mgt 1359
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Re: China Cinda Asset Mgt 1359
by winston » Wed Mar 30, 2016 8:02 am
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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winston - Billionaire Boss
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Re: China Cinda Asset Mgt 1359
by winston » Tue Aug 02, 2016 9:53 am
not vested
CINDA INTL HLDG Expects Interim Net Profit to Fall About 75% YoY
CINDA INTL HLDG (00111.HK) 0.000 (0.000%) issued a profit warning, predicting that the consolidated profit after tax attributable to equity holders of the company for the six months ended 30 June 2016 is expected to decrease approximately 75% as compared with the corresponding period in 2015 of $57.094 million.
Such decrease is mainly due to decrease in the revenue from the brokerage and corporate finance business which is in line with the setback in the investment market sentiment and significant decrease in results shared from the associated companies as a result of fair value losses on certain financial assets during the period.
Source: AAStocks Financial News
CINDA INTL HLDG Expects Interim Net Profit to Fall About 75% YoY
CINDA INTL HLDG (00111.HK) 0.000 (0.000%) issued a profit warning, predicting that the consolidated profit after tax attributable to equity holders of the company for the six months ended 30 June 2016 is expected to decrease approximately 75% as compared with the corresponding period in 2015 of $57.094 million.
Such decrease is mainly due to decrease in the revenue from the brokerage and corporate finance business which is in line with the setback in the investment market sentiment and significant decrease in results shared from the associated companies as a result of fair value losses on certain financial assets during the period.
Source: AAStocks Financial News
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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winston - Billionaire Boss
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Re: China Cinda Asset Mgt 1359
by winston » Thu Sep 01, 2016 6:29 am
not vested
Cinda predicts further rise in non-performing loans
by Daisy Wu
Bad loan ratios of mainland banks will rise further, based on China's economic situation, China Cinda Asset Management (1359) vice president Wu Songyun said yesterday.
The nonperforming loan ratio of Chinese lenders hit 1.44 billion yuan (HK$1.67 billion), or 1.75 percent of total loans at the end of June, according to official data.
It marked growth in the sector's NPLs for 19 quarters in a row.Wu said Cinda, one of four state- backed bad debt managers, stands to benefit from the rising NPLs of lenders since investment in bad debts is its core business.
Cinda acquired more than 80 billion yuan worth of bad debts from Chinese lenders this year, or 40 percent of the total 200 billion yuan.
Wu said Cinda is actively involved in different ways of managing bad debts, including securitization and debt equity swaps, in its capacity as direct investor and consultant.
Cinda said first-half net profit rose by 2.4 percent to 8.01 billion yuan, while revenue jumped by 20 percent to 45.5 billion yuan, driven by a more than doubling of the fair value of bad debt assets. It did not declare any interim dividend.
Investment income increased by 26.2 percent to 10.5 billion yuan, offsetting the impact of an escalation of costs and expenses.
Senior manager Chen Xiaozhou said the interim results only included profit contribution for June by Nanyang Commercial Bank, which it bought from BOC Hong Kong (2388) for HK$68 billion at the end of 2015.
NCB's business accelerated from June to August and its profit contribution potential is promising, said Chen, adding its integration will be completed in two to three years.
Cinda shares declined fell 2.23 percent to HK$2.63 yesterday.
Source: The Standard
Cinda predicts further rise in non-performing loans
by Daisy Wu
Bad loan ratios of mainland banks will rise further, based on China's economic situation, China Cinda Asset Management (1359) vice president Wu Songyun said yesterday.
The nonperforming loan ratio of Chinese lenders hit 1.44 billion yuan (HK$1.67 billion), or 1.75 percent of total loans at the end of June, according to official data.
It marked growth in the sector's NPLs for 19 quarters in a row.Wu said Cinda, one of four state- backed bad debt managers, stands to benefit from the rising NPLs of lenders since investment in bad debts is its core business.
Cinda acquired more than 80 billion yuan worth of bad debts from Chinese lenders this year, or 40 percent of the total 200 billion yuan.
Wu said Cinda is actively involved in different ways of managing bad debts, including securitization and debt equity swaps, in its capacity as direct investor and consultant.
Cinda said first-half net profit rose by 2.4 percent to 8.01 billion yuan, while revenue jumped by 20 percent to 45.5 billion yuan, driven by a more than doubling of the fair value of bad debt assets. It did not declare any interim dividend.
Investment income increased by 26.2 percent to 10.5 billion yuan, offsetting the impact of an escalation of costs and expenses.
Senior manager Chen Xiaozhou said the interim results only included profit contribution for June by Nanyang Commercial Bank, which it bought from BOC Hong Kong (2388) for HK$68 billion at the end of 2015.
NCB's business accelerated from June to August and its profit contribution potential is promising, said Chen, adding its integration will be completed in two to three years.
Cinda shares declined fell 2.23 percent to HK$2.63 yesterday.
Source: The Standard
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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winston - Billionaire Boss
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Re: China Cinda Asset Mgt 1359
by winston » Thu Sep 01, 2016 6:29 am
not vested
Cinda predicts further rise in non-performing loans
by Daisy Wu
Bad loan ratios of mainland banks will rise further, based on China's economic situation, China Cinda Asset Management (1359) vice president Wu Songyun said yesterday.
The nonperforming loan ratio of Chinese lenders hit 1.44 billion yuan (HK$1.67 billion), or 1.75 percent of total loans at the end of June, according to official data.
It marked growth in the sector's NPLs for 19 quarters in a row.Wu said Cinda, one of four state- backed bad debt managers, stands to benefit from the rising NPLs of lenders since investment in bad debts is its core business.
Cinda acquired more than 80 billion yuan worth of bad debts from Chinese lenders this year, or 40 percent of the total 200 billion yuan.
Wu said Cinda is actively involved in different ways of managing bad debts, including securitization and debt equity swaps, in its capacity as direct investor and consultant.
Cinda said first-half net profit rose by 2.4 percent to 8.01 billion yuan, while revenue jumped by 20 percent to 45.5 billion yuan, driven by a more than doubling of the fair value of bad debt assets. It did not declare any interim dividend.
Investment income increased by 26.2 percent to 10.5 billion yuan, offsetting the impact of an escalation of costs and expenses.
Senior manager Chen Xiaozhou said the interim results only included profit contribution for June by Nanyang Commercial Bank, which it bought from BOC Hong Kong (2388) for HK$68 billion at the end of 2015.
NCB's business accelerated from June to August and its profit contribution potential is promising, said Chen, adding its integration will be completed in two to three years.
Cinda shares declined fell 2.23 percent to HK$2.63 yesterday.
Source: The Standard
Cinda predicts further rise in non-performing loans
by Daisy Wu
Bad loan ratios of mainland banks will rise further, based on China's economic situation, China Cinda Asset Management (1359) vice president Wu Songyun said yesterday.
The nonperforming loan ratio of Chinese lenders hit 1.44 billion yuan (HK$1.67 billion), or 1.75 percent of total loans at the end of June, according to official data.
It marked growth in the sector's NPLs for 19 quarters in a row.Wu said Cinda, one of four state- backed bad debt managers, stands to benefit from the rising NPLs of lenders since investment in bad debts is its core business.
Cinda acquired more than 80 billion yuan worth of bad debts from Chinese lenders this year, or 40 percent of the total 200 billion yuan.
Wu said Cinda is actively involved in different ways of managing bad debts, including securitization and debt equity swaps, in its capacity as direct investor and consultant.
Cinda said first-half net profit rose by 2.4 percent to 8.01 billion yuan, while revenue jumped by 20 percent to 45.5 billion yuan, driven by a more than doubling of the fair value of bad debt assets. It did not declare any interim dividend.
Investment income increased by 26.2 percent to 10.5 billion yuan, offsetting the impact of an escalation of costs and expenses.
Senior manager Chen Xiaozhou said the interim results only included profit contribution for June by Nanyang Commercial Bank, which it bought from BOC Hong Kong (2388) for HK$68 billion at the end of 2015.
NCB's business accelerated from June to August and its profit contribution potential is promising, said Chen, adding its integration will be completed in two to three years.
Cinda shares declined fell 2.23 percent to HK$2.63 yesterday.
Source: The Standard
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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winston - Billionaire Boss
- Posts: 119533
- Joined: Wed May 07, 2008 9:28 am
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