SLMBP Latest Report

Financial Performance Review

SLM Credit Priority B (stock code: SLMBP) recorded a total operating revenue of RMB389,973,000 as of December 31, 2024, a year-on-year decrease of approximately 11.97% from RMB442,999,000 as of December 31, 2023. The decline in total operating revenue indicates challenges in revenue generation, which may affect its overall profitability and financial health.

Key Financial Data

1. Total operating revenue decreased from RMB442,999,000 to RMB389,973,000, a year-on-year decrease of approximately 11.97%.

2. The Company's operating revenue from January to September 2024 was RMB320,118.83 million, a year-on-year decrease of 14.74%, which is greater than the industry average.

3. The net profit attributable to parent was RMB26,154.10 million, a year-on-year decrease of 37.14%, which is also lower than the industry average of -25.02%.

4. The Company's provision for asset impairment increased significantly, with an estimated provision of approximately RMB112,219,100, a year-on-year increase of approximately 47.77%.

Industry Comparison

1. Overall industry analysis: The overall change in the revenue of the credit industry is affected by the economic cycle, interest rate policies, and market demand. If the industry's overall revenue decreases, it may be due to a poor economic environment or weakened market demand. The recent economic slowdown and increased interest rate volatility have increased industry competition, leading to a decrease in credit demand.

2. Peer evaluation analysis: Compared with other companies in the same industry, SLMBP's total operating revenue decreased significantly, indicating that its market share is being eroded by competitors. The industry's average revenue growth rate is -6.38%, while SLMBP's decrease is more pronounced, reflecting the need to adjust its market positioning and strategies.

Summary

SLM Credit Priority B's financial performance in 2024 was poor, with both operating revenue and net profit attributable to parent showing a downward trend, mainly affected by increased competition, a slowdown in the macro economy, and internal strategic adjustments. The Company needs to carefully review its market positioning and strategies to address the current challenges.

Opportunities

1. Optimize product lines and channel layout to improve sales efficiency and restore operating revenue.

2. Utilize emerging technology platforms and innovative products to attract more consumers and increase market share.

3. Adjust credit strategies in a timely manner in the context of a recovery in the macro economy to seize market recovery opportunities.

Risks

1. Continued pressure from industry competition may lead to further declines in operating revenue and profits.

2. Macroeconomic uncertainties may affect borrowers' ability to repay, increasing the risk of asset impairment.

3. Ineffective implementation of internal management and strategic adjustments may lead to continued declines in performance.