OP Financial(1140.HK) Announces Gratifying 2016/2017 Results

Corporate News 26 Jun 2017

(Hong Kong, 26 June 2017) OP Financial Investments Limited (“OP Financial”, stock code: 1140.HK), announced its audited annual results for the twelve months ended 31 March 2017 (the “Year”). During the Year, the strategic layout of OP Financial has yielded promising preliminary results.

Key Highlights

  • Profit for the Year amounted to HK$188.06 million, +326% YoY
  • Total Comprehensive Income amounted to HK$205.12 million, +417% YoY
  • Net Asset Value amounted to HK$2.91 billion, +10% YoY
  • Basic earnings per share was HK 10.15 cents, +252% YoY
  • Proposed final dividend of HK 4 cents per share

The Group’s portfolio delivered strong growths. Profit for the Year amounted to HK$188.06 million, representing a YoY growth of 326% from HK$44.16 million last year. Total Comprehensive Income amounted to HK$205.12 million, representing a YoY growth of 417% from from HK$39.65 million last year. The Group’s net assets as at 31 March 2017 increased by 10% YoY from HK$2.64 billion to HK$2.91 billion, which benefited from fair value and revenue growth. The NAV per share increased from HK$1.43 to HK$1.54.

The Group’s bank and cash balances increased to HK$1.79 billion, mainly attributable to operating cash inflow, net proceeds of HK$107.01 million from the placing of 56 million shares and offsetting the fund utilized in new investments.

During the Year, basic earnings per share was HK 10.15 cents, representing a YoY growth of 252%. OP Financial exit a few material profitable investment positions. As part of a long term commitment to providing shareholder value, the Board recommend the payment of a final dividend of HK 4 cents (2015/2016 dividend: HK 2.5 cents) per share.

Commenting on the future development, Zhang Gaobo, Chief Executive Officer of OP Financial, said: “In 2017, we see extensive business opportunities embedded in crossborder and crossover investments. On one hand, a large number of Chinese enterprises have to turn to Hong Kong for financing as China has strengthened capital control. It creates an excellent opportunity for our crossborder investments. On the other hand, overcapacity difficulties and homogeneous competition force enterprises in traditional industries experience greater challenges. OP Fianncial is going to capture the crossover opportunities by investing in enterprises which deeply understand the industry and are able to make good use of the Internet and other technologies.”

“We have established meaningful strategic alliance with China EBS International, Hangzhou Magsun and Finance Center for South-South Cooperation. We will focus on two categories going forward: one is strategic investment such as platforms to obtain long-term capital appreciation and create synergies; the other is medium to short-term investment by leveraging on our capabilities of strong capital base and tailor-made integrated investment solutions. We will continue our efforts to become a leading cross-border investment platform in Asia, as well as create greatest value for our shareholders”, Zhang continued.