Deepening Capital Management
Through further strengthening the revenue and expense” management
with capital budget as its basis and Huaneng Finance Co., Ltd as
capital settlement platform, the capital centralization has been
significantly; and through financial company to finance for
enterprises, the utilization rate of stocked capital has also
Compared to the beginning of the year, the amount of stocked
the end of the year increased by 8%; the composite interest rate
greatly compared with the average benchmark interest rate; saving
theinterest expense of RMB2.8 billion Yuan.
Enhancing Fund Risk Prevention
We perfected the guarantee system of emergency response fund,
established emergency response plan, and reinforced reporting
significant fund matters, thus the fund risk was effectively
the financial safety of the Group Company’s operation was
Improving Financial Platform Construction
In accordance with the requirements of high starting point, steady
steps and rapid development”, we have successfully completed the
reorganization and set up of Guicheng Trust, achieved a steady
from the old to new system, established a new salary and assessment
system and a new operational management mechanism that adapted
to industry competition, made a good start of realizing profit in
operation year, and it became the new profit growth point in
industry. We completed a capital increase in Yongcheng Insurance
Ltd. and introduced overseas strategic investors such as Canadian
Holdings, and simultaneously implemented an increase in domestic
capital, with RMB600 million Yuan in total funds raised.
Expanding Financing Channels
In order to guarantee fund demands of company’s development and
realize good economic benefits, we have continued to open up
financingsources and innovate financing channels.
We have continued to strengthen our strategic cooperation with the
Bank of China and other state-owned commercial banks,
so as to obtain sufficient bank financing; we have consolidated and
enlarged the scale of bond financing and explored
assetbacked securities financing; we have continued to develop the
special financing of postal savings, insurance
investment plan, trust loans, finance leases and other non-credit
bond financing channels.
Exploring Financial Innovation
We gradually promote research of financial innovation, and give
to both advantages of our financial profession and functions of
and financing within Huaneng Finance Co., Ltd. We actively explore
innovative financing tools and products such as creditor’s rights
factoring,accounts receivable factoring and usufruct plan.
We focus on the financial innovative business, effectively raising
comprehensive operational benefitof capital and fund.