Recently, Nanyin Faba Consumer Finance plans to issue the first phase of personal consumption loan asset-backed ** in 2024, with an issuance scale of 155 billion yuan, of which 9 priority A1 level is preferred5 billion yuan, accounting for 6129%；Priority A2 level 21 billion yuan, accounting for 1355%；Priority 10.5 billion yuan, accounting for 677%；Secondary 28.5 billion yuan, accounting for 1839%。
Founded in May 2015, Nanyin Faba has been operating since August 2022 when it was renamed from Suning Consumer Gold to Nanyin Faba Consumer Gold. If successful, this will be the first issue of ABS issued by Nanyin Faba since the name change.
In terms of operating performance, as of the end of 2022, the total assets of Nanyin Faba Consumption Gold were 455.8 billion yuan, with an owner's equity of 57.6 billion yuan. In 2022, the operating income will be 30.4 billion yuan, net profit 0$1.1 billion; As of the end of June 2023, the total assets of Nanyin FAXBA Consumer Gold were 2266.6 billion yuan, with an owner's equity of 502.3 billion yuan. From January to June 2023, the operating income will be 101.1 billion yuan, net profit 04.7 billion yuan. This level of profit margin is not high.
In the 2023 results of consumer finance companies previously circulated in the industry, as of the end of 2023, the total assets of Nanyin Faba Consumer Finance were 3345.9 billion yuan, operating income of 263.3 billion yuan, net profit of 1$1.1 billion;
At the business level, according to the business model, the business of Nanyin Faba is divided into two modes: online business and offline business. The offline business is the core self-operated business (i.e., B2C business), and the online business is the Internet business, including self-operated business (i.e., B2C) and joint business (B2B).
In terms of business model and current core products, Nanyin Faba Consumer Gold mainly undertakes the previous Bank of Nanjing (601009SH) the business content of the Consumer Finance Center. Previously, the Consumer Finance Center of Bank of Nanjing adopted the same business model to carry out specific business products of Cheng Yi Loan and Purchase Easy Loan. Bank of Nanjing has completed the all-round integration and smooth transition between its consumer finance center and Bank of Nanjing's FABA Consumer Finance in terms of business, system and management. The two have carried out all-round integration in business marketing, risk management, operation services, digital systems, management systems, and personnel teams.
From 2020 to 2022, the business scale of the former Bank of Nanjing's consumer finance center will be 39.7 billion yuan, 41.9 billion yuan and 48.9 billion yuan respectively. As of the end of 2022, the business scale of the former Bank of Nanjing's consumer finance center ranked among the top 5 in China's consumer finance industry, second only to Zhaolian, Mama, Industrial and Ant Money.
As of the end of June 2023, the scale of the stock of personal consumption loans of Bank of China was 2027.3 billion yuan, and the non-performing rate of personal consumption loans was 115%。And at the end of 2022, the defective rate was 259%。
The company's offline business B2C core self-operated main products are divided into two categories: "Cheng Yi Loan" and "Purchase Easy Loan", of which there are three specialized sub-products under "Cheng Yi Loan", "Geek Loan", "Craftsman Loan" and "Maker Loan".
As of the end of June 2023, the balance of "Chengyi Loan" accounted for 9894%, and the balance of "purchase and easy loan" accounted for 028%；The original Suning Consumer Gold stock asset "Provincial Salary Loan" has no longer been added since 2023, and the stock assets have increased from 9 at the beginning of 20233.6 billion yuan to 15.8 billion yuan, accounting for only 078%。
In terms of product pricing, Nanyin Faba implements a risk pricing strategy to carry out differentiated pricing according to the different risk performance of users, with a pricing range of 756%-19.80%。As of the end of June 2023, the average credit line of customers is about 140,000 yuan, and the average loan amount of households is about 130,000 yuan. The average number of installments of Cheng Yi Loan products is about 34 and the average number of installments of BuyEasy Loan products is about 47 periods. The total balance of Cheng Yi Loan and Purchase Easy Loan is 944.2 billion yuan, with a cumulative investment amount of 1009.5 billion yuan.
Through the data, it can be seen that the former consumer finance center of Bank of Nanjing is mainly based on offline self-operated "Chengyi Loan". However, Nanyin Faba Consumption Gold is also stepping up to increase online business investment. As of the end of June 2023, the online Internet loan of Nanyin Faba Consumption Gold was about 1083.1 billion yuan.
Today, the balance of nearly 50 billion yuan of existing loans in the former consumer finance center of Bank of Nanjing is being further introduced. In addition, the balance of 6.5 billion yuan of existing loans from the former consumer finance center of Rizhao Bank is being absorbed and merged (for details, see "Nanyin Faba Consumer Finance Issued an Important Announcement, Can the Joint Operation Be Replicated?"). Another consumer finance company is expanding and becoming the new giant.