China News Network, Beijing, March 31 (Reporter Wang Enbo) China Cinda Asset Management Co., Ltd. released the 2019 annual performance report on the 31st. The report shows that China Cinda realized a net profit attributable to shareholders of the company of 13.05 billion yuan last year, an increase of 8.4% over the same period last year; the average return on equity (ROE) was 8.56%, an increase of 0.24 percentage points over the same period last year.
The annual report also shows that as of the end of 2019, China Cinda's total assets reached 15.1323 billion yuan, an increase of 1.2% over the end of the previous year.
As one of the four largest state-owned financial asset management companies in China, China Cinda pays great attention to the non-performing asset market. In 2019, as the company's core business, non-performing asset management continued to maintain an absolute advantage in the proportion of business income and pre-tax profits, reaching 70.2% and 78.0%, respectively.
As of the end of 2019, the net value of its acquisition of operating non-performing assets was 198.15 billion yuan, and the average price of open market acquisitions was lower than the market average. China Cinda has also strengthened asset classification management, accelerated the turnover of existing assets, consolidated gold recovery, effectively increased the asset turnover rate, and steadily increased the scale of disposal and cash recovery. In 2019, the income from the acquisition of operating non-performing debt assets was 13.60 billion yuan, a year-on-year increase of 20.7%.
The annual report also stated that China Cinda focused on the existing risks in the economic and financial fields, focused on serving the real economy, promoted the integration of production and industry, and explored solutions to complex problems such as "acquisition + revitalization" and "acquisition + integrated financial services". Deepen. Emphasis was placed on prudent and effective investment, strengthening the entry standards for new projects, further optimizing the regional structure, steady business development, and steadily increasing returns. In 2019, the income from the acquisition and restructuring of non-performing assets was 16.50 billion yuan, and the monthly average annualized rate of return increased by 0.7 percentage point from the same period last year.
In addition, China Cinda complies with the "big bad" business orientation and focuses on supporting the main business investment, optimizing the proportion of main business assets, stabilizing profit and income, and improving efficiency. As of the end of 2019, the total assets of the non-performing assets business were 945.23 billion yuan, accounting for more than 60%. Effectively allocate financial resources, improve the efficiency of capital recovery and use, and reasonably control the level of leverage. As of the end of 2019, the Group's leverage ratio decreased by 4.5 percentage points. (Finish)