The head of the car gold also began to roll the motorcycle in installments.
Recently, Changan Auto Finance, hereinafter referred to as "Changan Auto Finance") officially launched the cooperation with Jinan Qingqi Suzuki Motorcycle, hereinafter referred to as "Qingqi Suzuki").
Changan Automobile Finance and Qingqi Suzuki are brother enterprises and members of China Ordnance Equipment Group.
China Ordnance Equipment Group is one of the world's top 500 enterprises, with more than 60 key enterprises and R&D institutions, covering national defense science and technology, automobile manufacturing, auto parts, optoelectronic information, high-end equipment manufacturing, medicine and health, new materials, financial services, etc.
Founded in 2012 with a registered capital of 500 million yuan, Changan Auto Finance's main business is to provide auto financial services for auto dealers, institutions and individual consumers.
Founded in 1994 and officially put into operation in July 1996 with a registered capital of 24 million US dollars, the company is positioned as a professional manufacturer of medium and high-end motorcycles.
This is the third auto finance company to enter the field of motorcycle finance after Chery Huiyin Auto Finance and Ruiford Auto Finance.
Affected by the pressure of macroeconomic growth and the slowdown in the growth rate of automobile sales, the auto consumer loan business is also suffering from growth pressure, which also makes various auto finance companies urgently seek new growth points, and motorcycles and agricultural machinery series have become the "blue ocean" fields that auto finance companies are eager to try.
Search for Qingqi Suzuki on Jingdong*** The several motorcycle products displayed on it ** are not more than 150,000 yuan, for auto finance companies, motorcycles, a relatively low-priced, short-term product will become an excellent profit growth point.
As a leading auto finance company, Changan Auto Finance played a stable role last year. As of the end of 2022, Changan Automobile's total financial assets have reached 7448.3 billion yuan, a year-on-year increase of 1305%；Net loans and advances issued were 6391.1 billion yuan, a year-on-year increase of 1045%。
Changan Auto Finance's main business is automobile consumer credit business and inventory financing business. Among them, the inventory financing business is mainly to provide vehicle purchase loans and showroom construction loans for automobile dealers, and the company's inventory financing business mainly involves automobile brands such as Ford and Mazda.
In 2022, the scale of inventory financing business further shrank, the proportion of inventory financing balance in total loans further decreased, and the consumer credit business further expanded.
At the end of 2022, the balance of auto consumer credit was 6542.2 billion yuan, a year-on-year increase of 1331%, accounting for 97% of the total loan balance76%；The balance of inventory financing was 149.7 billion yuan, a year-on-year decrease of 4344%, accounting for 224%, down 214 percentage points.
In 2022, Changan Auto Finance achieved an operating income of 393.4 billion yuan, a year-on-year increase of 2246%, achieving a net profit of 113.3 billion yuan, a year-on-year increase of 3133%；Net interest income of this was 384 billion yuan, a year-on-year increase of 1959%。
Changan Auto Finance has been continuously replenishing its capital strength since its establishment.
In November 2015, Changan Auto Finance was approved by the former China Insurance Regulatory Commission to increase its capital to 2.5 billion yuanIn December 2017, the company increased its capital again to 47700 million yuan.
In recent years, Changan Auto Finance has also expanded its capital through the issuance of ABS and capital bonds.
According to the official website of CNABS, since 2018, Changan Auto Finance has issued a total of 10 ABS, with an issuance scale of 2848.8 billion yuan;In 2023, Changan Auto Finance will issue three ABS financings with a maturity of 6 years, with a total principal of 6.5 billion yuan.
In 2021, Changan Auto Finance issued two financial bonds with a total principal of 2 billion yuan.
Changan Auto Finance's non-performing loan ratio is among the highest in the industry. In 2022, the company's non-performing loan ratio was 077%, while the non-performing loan ratio of Mercedes-Benz Auto Finance was only 016%, GAC-SOLI Auto Finance is only 033%。
In 2022, Changan Auto's financial provision coverage ratio was 58841%, up from 639 at the end of 202159% is down.
In 2018, Changan Auto Finance began to lay out the second-hand car market and launched the second-hand car loan product "Xinsheng Loan", and by the end of 2022, the company's second-hand car loan balance had reached 675.4 billion yuan.