DFH Issues Positive Profit Alert for 2016 Interim Results; Expects Over 25% Increase in Net Profit

Jul 27, 2016 18:37 JST

Source: Differ Group Holding Company Limited

HONG KONG, Jul 27, 2016 - (ACN Newswire) - Differ Group Holding Company Limited ("DFH" or the "Group") (stock code: 6878), a leading provider of short- to medium-term financing and financing-related solutions in China, issued a positive profit alert. The Group's net profit is expected to increase by more than 25% for the six months ended 30 June 2016 ("the Period") as compared to the corresponding period of 2015. The increase is mainly derived from (i) the remarkable growth of finance lease services and express loan services; and (ii) gain on disposal or execution of distressed assets of the Group's asset management services.

Mr. Hong Mingxian, Chairman and Executive Director of DFH, said, "I am pleased and very encouraged by the Group's outstanding performance in the first half of the year. Since the Chinese economy entered the 'New Normal', more prudent credit policies have given rise to new development opportunities. The Group has actively adjusted its business development focus, putting effort on expanding finance lease and asset management businesses and recorded remarkable results in the Period. Starting from last year, the Group has exerted in developing finance lease services espeically for such government-backed staple industries as agricultural and long range fisheries, and its hard work has begun to bear fruit this year. For asset management, the Group purchased several distressed assets in the Period, part of which have been successfully disposed or executed. In the meantime, the Group continues to explore cooperative opportunities with Cinda (111.HK) and HRIF (993.HK), the two asset management experts in distressed asset management projects and actively identify those with high potential returns. Looking ahead at the second half of 2016, I believe DFH will continue to realise its growth potential and keep its businesses prospering."

Contact:

Strategic Financial Relations Limited
Heidi So    +852 2864 4826  heidi.so@sprg.com.hk
Janet Fong  +852 2864 4817  janet.fong@sprg.com.hk
Jenny Lam   +852 2864 4883  jennysy.lam@sprg.com.hk
Fax: +852 2527 1196

Source: Differ Group Holding Company Limited
Sectors: Daily Finance, Daily News