Recently, Zhonghe Rural Credit *** Chongho Bridge Limited (hereinafter referred to as "Zhonghe Rural Credit Co., Ltd.") submitted a prospectus to the Hong Kong Stock Exchange to be listed on the main board of the Hong Kong Stock Exchange. According to the prospectus, CFPA empowers small farmers and rural small and micro business owners by providing technology-driven comprehensive products and services, including rural inclusive credit services, agricultural production services, rural consumer goods and services, and rural clean energy services.
The results show that from 2021 to the first three quarters of 2023, the total revenue of Zhonghe Rural Credit will be 222.4 billion yuan, 242.9 billion yuan, 227.2 billion yuan, of which the income from rural inclusive credit services accounted for respectively0%。From 2021 to the first nine months of 2023, the company's loan balances were 15 billion yuan, 15.2 billion yuan and 17.6 billion yuan respectively. While its size has grown steadily, its net profit has not kept pace. During the reporting period, the company's net profit was -364380,000 yuan, -19.9 billion yuan, 33 billion yuan.
As of September 30, 2023, the cash and cash equivalents held by CFPA were 1.1 billion yuan.
In terms of shareholding structure, the prospectus shows that in the shareholder structure of Zhonghe Rural Credit before its listing, TPG's affiliates TheriseFund and Newquest hold shares respectively95%；Ant Group holds a 27-strong stake through API36%, ranking as the second largest shareholder; CICC holds 221%。
Before the IPO, CFPA had conducted multiple rounds of financing, with investors including TPG, Ant Group, Temasek, CICC and other well-known capital institutions.
CFPA raised 1US$2.8 billion, of which US$50 million was subscribed by Newquest, US$21.5 million subscribed by The Rise Fund, US$20.75 million subscribed by CWI and Impact Asia PTE ltd.$16 million for the subscription, $15 million for Stream Contribution and $5 million for Inclusive Growth at a cost per share of $3$18.
CFPA completed Series D financing in 2021, with a total amount of 1$6.5 billion, led by OTPP 1$2.5 billion, Impact Blossom invested $40 million, at a cost per share of $404 yuan.
According to the prospectus, CFPA has established an offline service network that directly reaches the countryside and leading digital and intelligent service capabilities. As of September 30, 2023, CFP's business covers nearly 500 counties in 21 provinces across the country, taking root in more than 100,000 villages and radiating nearly 200 million rural people. As of the same date, CFPA relied on more than 6,400 service team members and more than 1180,000 village-level partners directly reach rural users. (Edited by Jiang Linyan, WeMoney Research Office).