PR-Inside.com: 2017-08-30 04:01:26
Focused Business Segments Achieved Sustained Growth; Net Profit Rose Steadily
HONG KONG, Aug 29, 2017 - (ACN Newswire) - Legend Holdings Corporation ("Legend Holdings" or the "Company"; stock code: 3396.HK) today announce the unaudited interim results of the Company and its subsidiaries for the period ended 30 June 2017 (the "Reporting Period").
Six months ended 30 June 2017:
- Revenue (including continuing operations and discontinued operations) was RMB142.482 billion, representing an increase of 6% year on year; in which the revenue of continuing operations increased by 9% year on year
- Net profit attributable to equity holders of the Company was RMB2,687 million, representing an increase of 4% year on year; in which net profit from continuing operations attributable to equity holders of the Company increased by 9% year on year
- Basic earnings per share were RMB1.15, representing an increase of 5% year on year, in which basic earnings per share of continuing operations increased by 10% year on year
During the Reporting Period, Legend Holdings realized revenue (including continuing operations and discontinued operations) of RMB142.482 billion, representing an increase of 6% year on year, in which the continuing operations revenue increased by 9% year on year; net profit attributable to equity holders of the Company amounting to RMB2,687 million, representing an increase of 4% year on year, in which net profit from continuing operations attributable to equity holders of the Company increased by 9% year on year; basic earnings per share were RMB1.15, representing an increase of 5% year on year, in which basic earnings per share of continuing operations increased by 10% year on year.
The strategic investments of the Company fully focused on consumption and services. Revenues of five segments have been further increased. Three major segments, namely financial services, innovative consumption and services as well as agriculture and food, all recorded substantial growth of revenue, the portfolio companies sustained its sound development. Meanwhile, financial investments of the Company recorded encouraging returns, both management scale and profit contribution increased to bring continuous and steady cash flow to the Company. Also, new funds were raised successfully, thereby laying a solid foundation for future development. In addition, the Company continued to help the portfolio companies in obtaining resources for development through various means of capital operations.
Mr. ZHU Linan, President of Legend Holdings, stated that, "In the first half of 2017, global economy generally had a sign of recovery, China's economy was steadily improving. Rooted in our established strategies, Legend Holdings insisted on the unique 'two-wheel-drive' business model 'strategic investments + financial investments', to optimize property development business and accelerate the launch of capital operations. Meanwhile, by taking the advantage of China's economic growth momentum, the Company actively pay attention to and participate in the issues of consumption upgrading, supply-side structural reform, SOE reform and 'the Belt and Road'. Legend Holdings continued to layout the strategic convergence to enhance and create the value of investment portfolio. In the future, building on the economic trend, the Company will implement its development strategies unswervingly and achieve synergy of strategic and financial investments, so as to push forward the accomplishment of 'two-wheel-drive', as well as to engage in building new pillar businesses to create better long-term returns for investors."
Strategic Amplify on Focused Segments and Dynamic Optimize Portfolio Investments
During the Reporting Period, five segments of strategic investments increased in revenues, in which the focused segments such as financial services, innovative consumption and services as well as agriculture and food recorded robust growth, each business segment was entering into the rapid growth track.
Each business of financial services segments achieved sound growth, revenue increased by approximately 204% year on year to RMB1,688 million. The business development of JC Finance & Leasing and Kaola Technology remained strong. During the Reporting Period, revenue and net profit of JC Finance & Leasing amounted to RMB302 million and RMB85 million, representing a growth of 193% and 183% respectively year on year. The outstanding balance of loans of Kaola Technology amounted to approximately RMB6.7 billion and the maximum single-day credit loan amount of individual loan business exceeded RMB100 million. By developing the Company's features and advantages, and increasing the impetus of capital to the development of real economy, financial segment is expected to be main pillar of the Company.
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