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Zuoli Kechuang Micro-finance Company Limited (06866.HK)

Financial Services




2020 (AR)
2020 (IR)
2019 (AR)


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Zuoli Kechuang Micro-finance Company Limited is the largest licensed microfinance company* in Zhejiang and occupied 44.0% of market share** in Deqing. We are dedicated to serving customers in Deqing, a county with robust commercial and agricultural activities, by providing financing solutions with flexible terms through quick and comprehensive loan assessment and approval processes.

Our long-term commitment to serve the local market and our strong capital base have enabled us to build a broad customer base that is in line with our business scale. Our key customers primarily consist of customers engaged in agricultural businesses, customers engaged in rural development activities, and/or customers residing in rural areas, or AFR (agriculture, rural areas and farmers), and SMEs and microenterprises in various industries.

We offer various loan products with flexible terms. We divide our principal products into two main categories, namely: (i) enterprise loans which include agriculture loans, technology enterprises credit loans and loans for other SMEs and microenterprises; and (ii) individual loans, which include individual business, consumption, start-up and other loans that are tailored to the needs of different customer groups. We focus on providing short-term loans to minimize our risk exposure and, as such, a substantial majority of our loans have a maturity period of between six months and one year.

We ensure stable operation by adhering to the policy of ‘‘separation of application investigation and approval’’. Through strict control of application investigation and approval process, the Company’s overdue loan ratio and impaired loan ratio were only 0.1% and 1.3%, respectively, as of 30 June 2014.

Leveraging our competitive strengths, the Company has been achieving continuous growth in its net interest income and net profit.
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Mr. YU Yin - Executive Director

Mr. Yu is our Executive Director, Chairman and one of the founders of the Company. He is primarily responsible for the Company’s day-to-day management, postulating business development plans and overseeing the Company’s overall corporate strategies. From August 2007 to March 2011, Mr. Yu was the chairman of the board of directors at Zhejiang Deqing Longxiang Investment Company Limited (formerly known as Zhejiang Deqing Longxiang Guaranty Company Limited). During the same period of time, Mr. Yu was also working as an assistant to the president, being responsible for marketing at Deqing Rural Cooperative Bank Wukang Branch.

Mr. Yu obtained a Bachelor’s degree in business administration from Oxford Brookes University in May 2007. From October 2012, Mr. Yu has been undertaking an Executive Master of Business Administration (EMBA) course in Fudan University.

Mr. HU Haifeng - Executive Director

Mr. Hu is an Executive Director and the General Manager of the Company and is responsible for the Company’s business management. Prior to joining the Company, Mr. Hu had gained extensive work experience relating to credit assessment and financing with rural credit cooperative and bank in Deqing. From August 1994 to December 2003, Mr. Hu worked successively as an officer in chief and a manager of credit management department at Deqing Sub-branch of Agricultural Bank of China (SSE stock code: 601288; SEHK stock code: 1288) where he gained considerable experience in the loan and credit industry. From January 2004 to June 2008, Mr. Hu worked as a deputy general manager of Jing Sheng Da Group Company, where he was responsible for daily operation. Prior to joining our Predecessor Company, Mr. Hu served as a general manager at Huanggang Sheng Hua Real Estate Development Company Limited, where he had overseen the overall business operation, from June 2008 to April 2011.

In June 1989, Mr. Hu received the qualification of assistant manager issued by Evaluation Committee for Professional Skills, Deqing Branch of Agricultural Bank of China. He also received a certificate for qualified credit officer issued by Zhejiang Branch of Agricultural Bank of China in January 1996. Mr. Hu graduated from Hunan Rural University of Financial Staff and obtained a college diploma majoring in Cooperative Finance in July 1994. From January 2003 to January 2005, Mr. Hu studied at China Central Radio and TV University and obtained a Bachelor’s degree majoring in finance.

Mr. PAN Zhongmin - Non-executive Director

Mr. Pan was appointed as Non-executive Director of the Company on 8 August 2014. Mr. Pan has over 10 years of experience in marketing related matters. Since March 2005 till now, Mr. Pan has been the chairman of the board of directors of Zhejiang Bangni Refractory Fiber Co., Ltd., where he is responsible for strategic planning and business development.

Mr. Pan graduated from Deqing Agricultural Vocational High School in July 1992. In July 2011, he obtained a college diploma through online learning majoring in business administration management from Dalian University of Technology.

Mr. HO Yuk Ming, Hugo - Independent Non-executive Director

Mr. Ho was appointed as Independent Non-executive Director of the Company on 28 April 2014. Mr. Ho has over 10 years of experience in auditing, accounting and finance related matters. From April 2010 to February 2014, Mr. Ho has acted as the accounting manager of Carlico International Group Holdings Limited. He has also acted as the financial controller of Great China Brokerage Limited on a part-time basis from October 2012 to February 2014. Since August 2013, Mr. Ho has acted as an independent non-executive director of Wuxi Sunlit Science and Technology Company Limited (SEHK stock code: 1289). Since April 2014, he has also acted as the chief financial officer of Future Bright Mining Holdings Limited.

Mr. Ho graduated from Hong Kong Shue Yan College (now known as Hong Kong Shue Yan University) with an honours diploma in accountancy in July 1996. He was admitted as an associate member of the Hong Kong Society of Accountants (now known as Hong Kong Institute of Certified Public Accountants) in March 2000 and is a certified public accountant in Hong Kong.

Mr. JIN Xuejun - Independent Non-executive Director

Mr. Jin was appointed as Independent Non-executive Director of the Company on 28 April 2014. Mr. Jin has been an independent non-executive director of Harbin High Tech (Group) Co., Ltd. (SSE stock code: 600095) since August 2008, Zhejiang Orient Holdings Co., Ltd. (SSE stock code: 600120) since August 2008, Zhejiang Weixing Industry Development Co., Ltd. (SZSE stock code: 002003) since September 2012 and Xinhu Zhongbao Co., Ltd. (SSE stock code: 600208) since October 2012. Mr. Jin has also been an executive director of Hakim Information Technology Co., Ltd. (SZSE stock code: 300300) since February 2014.

Mr. Jin graduated from Nankai University and obtained a Bachelor’s degree in economics in July 1982 and a Master’s degree in economics in July 1985.

Ms. HUANG Lianxi - Independent Non-executive Director

Ms. Huang was appointed as Independent Non-executive Director of the Company on 28 April 2014. Ms. Huang has been an independent non-executive director of Zhejiang Zhenyuan Company Limited (SZSE stock code: 000705) since June 2008, China Calxon Group Company Limited (SZSE stock code: 000918) since August 2009, Zhe Jiang Kangsheng Co., Ltd. (SZSE stock code: 002418) since July 2013 and Zhejiang Shenghua Biok Biology Co., Ltd. (SSE stock code: 600226) since April 2009.

In August 1983, Ms. Huang graduated from East China College of Political Science and Law (currently known as East China University of Political Science and Law) majoring in law. Ms. Huang furthered her legal study at Shanghai College of International Business and Economics (currently known as Shanghai University of International Business and Economics) in September 1984 and graduated in July 1986. From 1991 to 1992, Ms. Huang attended the one-year course of United Kingdom Practical Training Scheme for Lawyers of the People’s Republic of China at University of London and obtained a certificate of completion in July 1992. Ms. Huang was granted the qualification to practice in securities law jointly by Ministry of Justice P.R.C. and CSRC in July 1996.

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Zuoli Kechuang Micro-finance Company Limited commits to high standards of corporate governance and strictly adheres to relevant laws and regulations in the places of listing. As a listed company, we pay much attention to protecting shareholders' interests. We have established the following committees in our Board of Directors: an Audit Committee, a Remuneration and Appraisal Committee, a Nomination Committee and a Loan Approval Committee to ensure the top-level management and decision-making processes are accountable and in compliance with internal control systems as well as regulatory requirements and shareholders' interest.

Audit Committee

The Audit Committee consists of three Independent Non-executive Directors being Mr. Ho Yuk Ming, Hugo, Mr. Jin Xuejun and Ms. Huang Lianxi. The chairman of the Audit Committee is Mr. Ho Yuk Ming, Hugo. The primary duties of the Audit Committee, among other things, are to make recommendation to our Board on the appointment and removal of external auditor, review the financial statements and material advice in respect of financial reporting, and oversee internal control procedures of the Company.

Remuneration and Appraisal Committee

The Remuneration and Appraisal Committee consists of two Independent Non-executive Directors being Mr. Jin Xuejun and Mr. Ho Yuk Ming, Hugo, and one Executive Director being Mr. Yu Yin. The chairman of the Remuneration and Appraisal Committee is Mr. Jin Xuejun. The primary duties of the Remuneration and Appraisal Committee include the formulation and recommendation to our Board on the overall policy and structure for the remuneration of all of our Directors and senior management of the Company; the establishment of a formal and transparent procedure for developing policy on remuneration; the determination of specific remuneration packages of all Executive Directors and senior management in the manner specified in the terms of reference; the recommendation to our Board of the remuneration of Non-executive Directors; review and approval of performance-based remuneration; and review and recommendation to our Shareholders as to the fairness and reasonableness of the terms of any Director’s service agreement which is subject to the prior approval of our Shareholders in any general meeting pursuant to the Listing Rules.

Nomination Committee

The Nomination Committee consists of two Independent Non-executive Directors being Ms. Huang Lianxi and Mr. Jin Xuejun, and one Executive Director being Mr. Yu Yin. The chairman of the Nomination Committee is Ms. Huang Lianxi. The primary function of the Nomination Committee is to make recommendations to our Board regarding candidates to fill vacancies on our Board.

Loan Approval Committee

The Loan Approval Committee consists of four members, namely Mr. Zheng Xuegen, Mr. Hu Haifeng, Mr. Huang Chenjiang and Ms. Xia Jing. The chairman of the Loan Approval Committee is Mr. Hu Haifeng. The primary duties of the Loan Approval Committee are to determine the risk profile and creditworthiness of the potential customer and whether to advance the loan if the amount of loan exceeds RMB1 million.



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Listed Date 13 Jan 2015

Address 33rd Floor, Shui On Centre,
6–8 Harbour Road,
Wanchai, Hong Kong

Telephone 0572-8219780

Facsimile 0572-8219779

Email zuoli@zlkcxd.com

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