On January 11, 2016, our company was established on the basis of Dongguan Finance and Credit Development Co., Ltd., and it held an unveiling ceremony on March 25. Since its establishment, under the correct leadership of the municipal party committee and municipal government, our company has firmly grasped development opportunities, vigorously promoted the integration of equity in local financial institutions, and endeavored to undertake the mission of Dongguan to strengthen local finance and promote local economic development. Promote the smooth progress of all work and basically completed the established goals of the company.
As of the end of 2016 (consolidated statement), our companys total assets were 8.843 billion yuan, the total liabilities were 2.80 billion yuan, the owners equity was 5.963 billion yuan, and the owners equity attributable to the parent company was 4.954 billion yuan. In the January-December period of 2016, the net profit was 5.65 yuan. Billion yuan, attributable to the parent companys net profit of 340 million yuan, completed 120.30% of the budget target at the beginning of the year.
In the past year, the company has worked together to make all tasks work quickly and the company has quickly moved to a new level of development.
1, The corporate governance mechanism has been gradually improved. Based on the original Dongguan City Financial and Credit Development Co., Ltd., it revised and improved a series of basic systems such as collective decision-making, office operations, and human resource management. At the same time, it formed a state-owned financial capital investor, and major corporate events were reported to the SASAC. The system laid the foundation for the company’s legal and compliance management.
2, The construction of the platform has been smoothly advanced. In 2016, the company successfully completed the transfer of the 30% stake of Dongguan Trust held by the Municipal Finance Bureau. Under the premise of not affecting the IPO of Dongguan Securities, the company successfully transferred Dongguan Jinxin Development Co., Ltd. to our company for free. It holds 15.4% of Dongguan Securities’ equity in the company. At the same time, on behalf of the Municipal Bureau of Finance, our company performed the investors duties and appointed representatives to attend the Dongguan Trust, Dongguan Banks shareholders meeting, the board of directors, and the board of supervisors to exercise voting rights on their behalf.
3, Try to breakthrough the development of shortcomings through financial innovation. In 2016, our company made a meaningful attempt to explore future development strategies, including the establishment of a fund for the innovation and entrepreneurial industry investment fund on behalf of the municipal government and deep venture capital; initiative to engage with domestic professional institutions such as China Merchants Investment and seek to establish an industry Mergers and Acquisition Funds; set up a special team to study the feasibility of launching establishments of public fund management companies, asset management companies and other institutions.
4, The financial management work is effectively regulated. Our company insists on earnestly implementing various financial management systems, further improving financial management, enhancing the execution of relevant national policies, and employing accounting firms with extensive practical experience to provide financial planning services for the company.
5, Human resources management gradually improved. In order to meet the development and value pursuits of our company, our company vigorously introduced high-quality talents in finance and other related fields and actively improved internal and external training mechanisms to lay a solid foundation for building a professional talent team.
In 2017, it was an important year for the company to lay a solid foundation for development and to build an efficient and high-quality platform. It was also an important year for the company to innovate and work together to make up for the shortcomings. It was also an important year for the company to take bold steps to open up a new phase of financial integration. The company will focus on the central work of the municipal party committee and municipal government and the functions of the Jinhua Group, and will carry out the work based on the principle of “taking the platform and supplementing short boards”. Accelerate the promotion of equity equity collection, strive to complete the transfer of equity held by Dongguan City Bank in the first half of the year; accelerate the establishment of the parent fund of the innovation and entrepreneurship industry, and the establishment of mergers and acquisitions funds; vigorously explore the establishment of public fund management companies, asset management companies, Re-guarantee companies and other institutions with capital operation functions, complement the shortcomings of the financial industry chain, promote the reform of the citys investment and financing system, promote economic restructuring and industrial restructuring and upgrading of the city, and promote finance to become one of the citys economic pillar industries.