Flying Financial (8030.HK) Reports Outstanding Annual Results 2016; Revenue Surged More Than 1.5 times

Friday, 24 March 2017, 10:11 HKT/SGT

HONG KONG, Mar 24, 2017 - (ACN Newswire) - Flying Financial Service Holdings Limited (Stock Code: 8030.HK) ("Flying Financial" or "Company" and its subsidiary companies called "Group") was pleased to announce the annual audited consolidated results of the Company and its subsidiaries (collectively the "Group") for the year ended 31 December 2016 (the "Reporting period"). In the reporting period, the Group's revenue increased by approximately 166.5% compared with 2015 to approximately RMB289.2 million (the same below ); Profit attributable to owners of the Company was approximately RMB101.3 million as compared to last year, representing an increase of approximately 135.0%.

In 2006, followed by China's Internet financial good policy, Flying Financial unwaveringly adhere to the strategic upgrade, successfully by the pawn loans, entrusted loan business upgrade to the credit business for consumption scenario and asset management business based on financial technology. With the development of asset management business, the Group continued to blaze new trails and rich products and services in the field of consumer finance and credit, fully proved that the Group's business transformation strategy with remarkable results.

Three main businesses had outstanding performance, revenue surged more than 1.5 times

In the reporting period, the Group's revenue increased by approximately 166.5% compared with 2015 to approximately RMB289.2 million. The increase in the revenue was mainly due to increase in income from the Group's investments in property development projects, operation of financial services platforms and increase in financial consultation service income. For the year ended 31 December 2016, the Group's generated revenue from the investment income from the property development projects surged 200.2% to approximately RMB135.1 million. The Group's revenue from provision of financial consultation services increased by approximately 110.2% to approximately RMB109.3 million. The Group's revenue from the operation of financial services platforms increased by approximately 473.6% to approximately RMB30.4 million.

In the reporting period, Profit attributable to owners of the Company was approximately RMB101.3 million, representing an increase of approximately 135.0% compared to 2015. It is mainly due to increase in income from the Group's investments in property development projects, operation of financial services platforms and relevant financial consultation services.

In 2016, the Group provided customized financial and financial consultation service to the needs of large property developers in China. At the same time, the Group's investment in property development projects, and the steady growth of platform service, has become three cornerstones for the Group's profitability.

Steady development while ensuring shareholders' interests, paying a final dividend of HK1 cent after interim dividend

Encouraging results were achieved by virtue of the efforts spent by the management and the Group's staff during the year of 2016. To share the fruits of the Company's development with its shareholders, the Board has proposed to pay the shareholders of the Company a final dividend of HK1 cent per Share for the year ended 31 December 2016, after distributing the interim dividend 2016 of HK1 cent per Share. On the basis that the Group's future results shall enjoy steady growth, it is hoped that the Company can continue to distribute returns to its shareholders who support the Company continuously by way of payment of dividends.

Mr. Zheng Weijing, the CEO and chairman of the Company, "As Internet economy has become more important in the structural reform of China's economy, the Group is confident in the industry outlook and our performance in 2017. Flying Financial will focus on credit business for consumption scenario, assets management development and development of finance lease business. We firmly believe that after two years of bedding, the Group's technology and financial platform and consumer credit business is about to run on the line. This business will continue to grow, and further enhance the Group's revenue."

About Flying Financial Service Holdings Limited
Flying Financial was listed in Hong Kong Growth Enterprise Markets. Over years' resource accumulation, the company business covered asset management, internet financing, financial consultation, real estate fund, finance lease and pawn loans (short-term financing). Currently, the Company put a great effort in providing supply chain financial services for the whole chain of real estate industry through launching financial services and products and setting up an innovative and customized platform covering the entire industrial chain. We also provide our enterprises/ individual clients of financing business and investors with convenient one-stop financial services with our leading model of 「Internet + Finance + Real Estate」.

The Group is committed to the research and development of Internet finance, strategic share participation and independent application for Internet finance-related licenses. The Group will build a real-estate-based coverage of the whole industry chain of financial services chain, covering all types of business and product models.

Topic: Press release summary Sectors: Daily Finance, Daily News
https://www.acnnewswire.com
From the Asia Corporate News Network