Lu Jin's net profit in the first half of the year was 8.226 billion yuan!Adjustment of management, Zhao Rongyi took over as chairman and concurrently served as CEO

On August 5, Lu Jin, a subsidiary of Ping An Group, released the first half of 2022 and Q2 performance.

Data show that the total revenue of Lujin Institute's control achieved a total revenue of 32.604 billion yuan in the first half of the year, an increase of 8.4%year -on -year, and a net profit of 8.226 billion yuan, a year -on -year decrease of 15.2%.

Lu Jin's Holdings announced that the value continued to give back to shareholders, and it was intended to increase the frequency of dividend and dividend. In the first half of 2022, Lujin Institute's holding plans to distribute cash dividends according to the amount of 34 cents per share (17 cents per ADS), which is about 32%of the net profit of the mother in the first half of the year (the annual dividend rate in 2021 is 30%. ); From this year, the original dividend frequency once a year has been increased to twice a year.

According to the financial report, after the decision of the board of directors, Ji Guangheng, deputy general manager of Ping An Group, no longer served as the chairman of Lu Jin Institute Holdings. Chen Dongqi, the former general manager of Ping An Pinghui, was the general manager of Lu Jin.

Total income increased by 8.4% in the first half of the year

In the first half of the year, the market situation was complicated, the epidemic was repeated, and the business of Lujin Institute was generally stable.

The total revenue of Lujin Institute currently controlled the total revenue of 32.604 billion yuan in the first half of the year, an increase of 8.4%year -on -year, and the total expenditure increased by 24.1%. Finally, the net profit was 8.226 billion yuan, a year -on -year decrease of 15.2%. Among them, the total revenue achieved a total revenue of 15.288 billion yuan in the second quarter, an increase of 3.1%year -on -year, and net profit was 2.936 billion yuan, a year -on -year decrease of 37.9%.

In terms of income composition, the reduction of retail credit assistance services has led to a decrease of technical platform income by 16.2%. At the same time, net interest income increased by 62.8%, and guarantee income increased by 166.2%. In terms of expenditure, the loss of credit impairment increased by 152%to 3.513 billion yuan, which is the main cause of total expenditure growth.

In terms of main business, as of the end of June, the company's retail borrowing balance increased by 9.0%year -on -year to 661.4 billion yuan; the cumulative number of borrowers increased by 17.3%year -on -year to nearly 18.2 million; the total assets of the company's wealth management platform increased by 2.6%to 431.9 billion yuan year -on -year. The 12 -month retention rate of investors was 94.7%.

The financial report shows that in the second quarter of this year, Lu Jin's holding reached RMB 129.5 billion, of which 86.1%of the quarterly borrowing flowed to the small and micro enterprise owners, higher than 77.6%in the same period last year.

In the first half of this year, especially in the second quarter, the domestic epidemic was repeated, the situation of preventing and controlling the situation was arduous, the macroeconomic pressure was under pressure, the business challenges of small and micro enterprises had a huge challenge, and the overall credit risk of domestic credit increased. Lu Jin Institute said that thanks to the past 17 years of credit service experience, the company took the initiative to adopt a series of response measures to timely adjust the operating strategy and plan to improve the company's resistance to risk, including strengthening credit risk management, expense management, doing good liquidity arrangements and arrangements and arrangements for liquidity arrangements. Plan and so on.

The transformation of sales channels has entered a stable stage, and the contribution rate of direct sales channels has increased. Zhao Rongyi said, "In the second quarter, the contribution rate of direct sales channels was 53.6%, and 49%in the same period last year; with the transformation of sales channels, the proportion of" excellent talents "in direct sales channels increased. At the same time, the company can better adjust the credit risk management policy according to market conditions. "

"In the second quarter of this year, the per capita application volume of direct sales salespersons increased by 17%compared with the same period last year. Under the influence of policy support and market demand, the small and micro financing service market was broad." Zhao Rongyi said.

He said that Lu Jin's control is focusing on the diversified financial needs of the important part of the small and micro enterprise owner, and provides comprehensive financial services such as loan, wealth management, and insurance for the owners of small and micro enterprises. "This strategic transformation is expected to extend the life cycle of our customers, deepen customer insights, enhance customer loyalty, and reduce customer acquisition and management costs."

The funding partner of Lujin Institute has continued to expand. Ji Kuisheng revealed that the increase in the number of fund partners reflects their demand for high -quality small and micro loans. In the second quarter, the company's fund partners reached 78, an increase of about 10%over the first quarter.

In terms of business outlook, the company is expected to decrease year-on-year in total revenue and net profit in the second half of the year. In 2022, total revenue will decrease by 0%-3%year-on-year, and net profit will decrease by 20%-22%year-on-year to 13 billion to 13.4 billion yuan. Essence If the net profit calculation does not include non -cash foreign exchange losses, the company is expected to decrease by 14%to 17%in 2022.

The announcement stated that these predictions reflect the company's current and preliminary views on the market and operating conditions, and these views may change.

Company's main management adjustment

The financial report also disclosed that after the decision of the board of directors, Ji Guangheng, deputy general manager of Ping An Group, no longer served as the chairman of Lu Jin Institute Holdings. Chen Dongqi, general manager of Ping An Pinghui, is the general manager of Lu Jin Holdings.

At the same time, David Siu Kam Choy, the chief financial officer of Ping An, has been appointed as the chief financial officer of Lu Jin. Yang Jian has resigned as the company's chief risk officer, and Lin Yongzhen has been appointed as the company's chief risk officer.

According to the data, Chen Dongqi is currently the chairman of Ping An Consumer Finance Co., Ltd. and general manager of Ping An.Chen Dongqi has more than 25 years of experience in the sales management and financial industry.Before serving as the current position, Chen Dongqi was the assistant, deputy general manager and deputy general manager of Ping Anpu Hui, and also served as chairman and general manager of Ping An Insurance Agency Co., Ltd. from 2014 to 2018.The company serves as a number of positions, including the assistant general manager of the credit insurance insurance business department from 2013 to 2014.Dividend frequency becomes twice a year

Lujin Institute also announced that in order to further give back to shareholders, in the first half of 2022, it was planned to distribute cash dividends according to the amount of 34 cents per share, which was about 32%of the net profit of the mother in the first half of the year.The frequency of dividends will also be further improved. In the future, Lujin Institute will be adjusted from a dividend to dividends every half a year, and the dividend ratio will be 20%-40%of the current profit.

In 2021, Lu Jin's control was divided into 68 cents per share, accounting for about 30%of the profit in 2021, and it was completed in April this year.

Editor: Lin Gen

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