The Group expedited its strategic transformation and actively implemented its business reorganization. The Company has officially changed its name from “E-Rental Car Company Limited” to “HongDa Financial Holding Limited” and the Chinese name of the Company from “ 宜租互聯網租車有限公司” to “ 弘達金融控股有限公司” as its dual foreign name in June 2016. The Board considered that the change of company name will better reflect the direction of the Group’s business development, which is in the interests of the Company and the Shareholders as a whole, especially in these challenging economic times. The Company constantly evaluates its business strategies towards, and the performance of, the business operations of the Group. It is dedicated not only to developing the Group’s existing businesses but is also dynamic in pursuing business diversification to generate new avenues for growth and to improve the overall financial profile of the Group in the long run.
To achieve the goal, the Company is actively diversifying into the money lending business in Hong Kong and has, through one of its wholly owned subsidiaries, successfully applied for and been granted a money lenders license for the operation of the business. During the last quarter of 2015, the group has operated as a licensed money lender which is regulated under the Money Lenders Ordinance (Chapter 163 of the laws of Hong Kong) in Hong Kong. We are strong and confident in meeting our customers’ financial needs with simple requirements and fast approval procedures. We cater for the needs of all kinds of customers.
The Group are of the view that despi te the keen and intense market competition, and in addition to the recent stringent policy imposed by HKMA, the market demand for loan products remains strong. Being the best alternative to banks’ loan, and leveraging on our ample experience in loan business, with diversified products and services, together with our prudent, lasting and effective approach in implementing loan policies, we believe we remain highly competitive in the money lending market and we are confident about the future performance of our loan portfolio, interest income and profit which will generate promising returns to our Shareholders in foreseeable future.
Looking ahead, the Group will continue to closely monitor any policy changes and proactively study the development of the car rental industry, in order to grasp the potential investment opportunities of the car rental business. Simultaneously, the Group will explore the possibility of entry into different potential subjects of “Internet Plus”, in order to build a diversified business portfolio for widening its revenue streams and a smooth future development.
In addition to the Group’s continued involvement in the money lending business, the Group is proactively identifying opportunities for acquisition of financial business, including varies financial institutions and asset management companies in the PRC and globally, as well as securities business in Hong Kong, so as to strengthen the Company’s business sectors. Furthermore, with an aim of supporting our business development, the Group has been continuously introducing institutional investors and strategic partners by ways of issue of convertible bonds and other different financing channels to seek new opportunities, and we believe this will provide a higher values for the shareholders of the Company.
Finally, on behalf of the board, I wish to take this opportunity to thank everyone in our Group for their sincere contributions, and also our clients, investors, business partners and social communities for their continuous support, and to all of our colleagues for their hard work and dedication to achieve our strategic goals and mission. I will work closely with the Board to explore opportunities in the financial market on a timely manner, to form sustainable long-term strategies and to build up positive corporate images to develop the business in a healthy way.
I extend my heartfelt gratitude to you all again.
Ms Deng Shufen