Vala Inc. · HKEX:2051
Vala — 51 Credit Card — H1 2019 Earnings Presentation
17 slides from Vala's earnings presentation, 2019
Slide 1: 51 Credit Card
保密 51 Credit Card 51信用卡 (2051.HK)
Slide 2: Disclaimer
Disclaimer The Group's presentation and subsequent discussions may contain forward-looking statements that involve risks and uncertainties. These statements are usually expressed in forward-looking terms such as "believe," "expect," "estimate," "plan," "forecast," "target," "may," and "will," or may
Slide 3: Industry Overview
Industry Overview Total number of credit cards in use in China • Younger generation with forward consumption (in million) concept has increasingly become the mainstream among the consumers 686 711 638 588 520 • Popularity of mobile payment has enabled more convenient and wider usage of credit cards
Slide 4: Company Overview
Company Overview 138.7 million no. of credit cards managed 2 让 有 信 用 的 人 过 得 更 好 83.4 million China’s Largest Online Credit Card Management Platform1 registered users of “51 Credit Card Manager App”2 1. Source: Oliver Wyman, for details please refer to the prospectus 2. As of June 30, 2019 4
Slide 5: 51 Credit Card Manager App
51 Credit Card Manager App 51 Credit Card Manager App Uniform billing presentation One-key-for-all consumption details Automatic repayment reminder Intelligent consumption analysis Convenient inter-bank repayment within APP 5
Slide 6: Expanding High Value User Base
Expanding High Value User Base 83.4 million registered users of 51 Credit Card Manager App1 • Through the credit card management platform app, we have acquired a Unique user acquisition huge user base. This platform is the gateway to our ecosystem and and conversion enables us to effectively convert
Slide 7: Our Business Model
Our Business Model Credit card management services The business segment accumulates a large number of high-sticking users, which drains other services in the ecosystem and promotes future business growth The main entrance to the Credit Facilitation Service ecosystem Credit Card Technology • We provi
Slide 8: Business Development
Business Development Registered Users of 51 Credit Card Manager App (million) 83.4 75.9 68.9 62.0 42.2 2016 2017 2018 1H 2018 1H 2019 Number of credit cards managed (million) 138.7 123.0 118.6 106.3 75.3 2016 2017 2018 1H 2018 1H 2019 8
Slide 9: Revenue Growing and Diversification Achieved
Revenue Growing and Diversification Achieved Revenue (RMB in million) Proportion of revenue generated by non- credit facilitation services increasing Revenue of credit facilitation service 2,812 Revenue of non-credit facilitation service 26.8% 42.6% 2,269 1,400 1,275 571 1H 2018 1H 2019 2016 2017 20
Slide 10: Revenue by Services
Revenue by Services Revenue (RMB in million) I. Revenue from credit facilitation services 2,056 *We have proactively shortened the average tenure, which leads to lower credit facilitation service fee level 1,627 934 804 384 2016 2017 2018 1H 2018 1H 2019 II. Revenue from referral services 203 197 18
Slide 11: Revenue by Services (cont'd)
Revenue by Services (cont’d) Revenue (RMB in million) III. Revenue from credit card technology services 256 140 116 111 73 2016 2017 2018 1H 2018 1H 2019 IV. Revenue from other services 313 297 288 141 49 2016 2017 2018 1H 2018 1H 2019 11
Slide 12: Credit Facilitation Services
Credit Facilitation Services Including: loan products for credit card holders Total amount amount of of loans loans no. of loans average size average tenure of facilitated facilitated facilitated of loans loans 1H 2019 RMB13.83 RMB 12.09 1.1 million RMB 11k 10.8 months billion billion 1H 2018 RMB12.
Slide 13: Credit Facilitation Services - Diversified Funding
Credit Facilitation Services - Diversified Funding Funding Sources of New Loans Facilitated in the Period Funding from financial institutions Funding from retail investors on our platform 8.5% 34.9% 50.5% 1H 2018 June 1H 2019 2019 Attract funding from financial institutions to diversify funding sour
Slide 14: Operating Expenses
Operating Expenses Adjusted Expenses Breakdown by Nature （1） (RMB in million) 86% % of revenue 67% 67% 289 Marketing & Advertising % of revenue Salaries & Benefits 238 233 194 69% 69% Fund transfer 103 charges 169 149 External technical service fee 561 130 414 97 153 Others 100 216 63 13 283 71 214
Slide 15: Adjusted Net Profit and Net Assets
Adjusted Net Profit and Net Assets Adjusted Net Profit (RMB million)（1） Net Assets (RMB million) 552 3,788 374 3,546 309 273 50 2016 2017 2018（2） 1H 2018 1H 2019 2H 2018 1H 2019 (1) Adjusted net profit is arrived at by excluding the following items from our net profit (please see our prospectus and
Slide 16: Outlook
Outlook • According to the People’s Bank of China, the number of credit cards in use is growing continuously. The number of credit cards held per capita was only 0.51, which still shows great growth potential compared with other developed countries such as the United States. • The increasing credit
Slide 17: Thank you!
Thank you！ Investor relations：[email protected]