Dear Colleagues of Yuexiu Financial Holdings,

Affection is long lasting while deep love requires few words. At this beautiful moment to farewell the past and welcome the new year, on behalf of the board of directors and management of Yuexiu Financial Holdings, I send my sincerest greetings and best wishes to my colleagues and their families, clients, investors and the people who have been supporting Yuexiu Financial Holdings.

The past 2016 was the beginning of the Thirteenth Five-year Strategy as well as the first year of Yuexiu Financial Holdings’ success in entering the capital market. We actively met a series of challenges such as increasing pressure, decline of transaction and investment in securities markets, frequent occurrence of capital and asset shortage, adverse financial events etc. that were resulted from the overall economic downturn. Despite these difficulties, we still achieved steady and healthy operation and smooth completion of listing. The new round of business planning and capital operation has begun. Our subsidiaries were transformed and upgraded with outstanding results, laying a good foundation for the Thirteenth Five-year development.

Last year, against all the odds, our business performance still above the market average. Though securities sector greatly declined, the business performance of Guangzhou Securities still achieved growth in profits with business revenue and net profit substantially moving up to the 33rd and 38th place respectively in the securities sector. The business performance of Yuexiu Financial Leasing significantly increased and over fulfilled the annual goal and broke the record.

Last year, we sped up integration and officially entered the domestic capital market. On August 1st , 2016, as the listed company was renamed Yuexiu Financial Holdings, we made a breakthrough in China’s capital market, becoming the first listed local financial holding platform in China and the only state-owned listed financial holding company in Guangdong Province. We also started another major assets reorganization project valued over 10 billion yuan. If successful, it will not only bring the comprehensive strength of Yuexiu Financial Holdings to a new level, but also speed up the fulfillment of the strategic goal of Guangzhou Securities as the “first-class securities trader in China”.

Last year, we seized opportunities to successfully acquire approval to lead the establishment of the second local asset management company in Guangdong Province. Relying on unique background of shareholders from “financial + industrial”, “state-owned + privately owned” and “Guangdong Province + Guangzhou City”, the asset management company is expected to become the leading local asset management company in China and the new development engine of Yuexiu Financial Holdings.

Last year, we actively reformed and realized new breakthrough in strategic transformation of core business. The capital intermediary business of Guangzhou Securities rapidly developed. The dominant businesses of company including bond, asset management and NEEQ moved further up in ranking. And it ranked 1st of market making in NEEQ; the size of share pledge business ranked top 5 in the industry; the net value of corporate creditor underwriting services and asset management business ranked top 10 in the industry. Yuexiu Financial Leasing set the business development direction of “1+ 4+ X” mode,  (1 means urban infrastructure and 4 means education, medical care, water and tourism) achieving a significantly increase in project investment throughout the year with nearly 20 billion yuan of asset size. Yuexiu Industry Fund successfully established Guangzhou State-owned Innovation Investment Fund with 2.61 billion yuan of the first FOF(fund of funds), laying the strategic foundation for new development of Yuexiu Industry Fund. Yuexiu Financial Science and Technology Company was established to attract a large number of financial technology talents and gradually become the important implementers of Yuexiu Financial Holdings to carry out the strategy of “finance + Internet”. Guangzhou Guarantee was awarded “the Most Influential Guarantee Institution” by China Guarantee. Yuexiu Microcredit was awarded “the Best Microfinance Service Award” by Guangdong Association of Microcredit.

We cannot make the above achievement without the unremitting efforts of all staffs in Yuexiu Financial Holdings, long-term trust, reliance and support of our clients, investors and people from all circles. We are awe-struck, grateful to clients and cherish the hard-earned achievements.

We aspire and persevere for beautiful future and keep going on a new journey. 2017 will be the key year for the Thirteenth Five-year development as well as the key year for further development. Although we are faced with a lot of difficulties and challenges, we believe the continual growth of China’s economy, new opportunities from reforms of state-owned enterprises, and our unique advantages accumulated after five years of rapid development. We have full confidence in the future.

We need to “make progress while maintaining stability”, ensure steady growth of business, keep overall risks under control, and improve operation to achieve the goal of “improved quality and increased efficiency and steady growth”.

We keep “high aspiration”, speed up major asset reorganization, establishment of the asset management company, and acquisition of new financial business license to achieve the goal to “integrate resources for a new start”.

We need to insist “client-oriented”, change the business philosophy, facilitate the strategy and business transformation focusing on clients and based on markets to achieve the goal to “transform and upgrade for actual results”.

We need to “reform and innovate”, optimize the organizational structure, introduce excellent talents, implement a long-term motivation system, and create the corporate culture full of energy and achieve the goal to “use machanisim leading vitality”.

Dear colleagues, let’s stand on a new start of development, and regard building Yuexiu Financial Holdings into a regionally leading and nationally excellent large-scale listed financial holdings group as our mission. I hope all of you can be hardheaded, work hard and cooperate with each other, and carry out the corporate spirit of “constantly progressing and being more excellent” for a new chapter of Yuexiu Financial Holdings.

I wish you a happy new year, good health, happy family, and may all go well with you!

President and General Manager of Yuexiu Financial Holdings: Wang Shuhui

January 26, 2017


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