云锋金融中期报告 2024

2 0 2 4 This interim report, in both English and Chinese versions, is available on the Company’s website atwww.yff.com (the “Company Website”). Shareholderswho have chosen or have been deemed consented to receive the corporatecommunications of the Company (the “Corporate Communications”) via the Company Website andwho for any reason have difficulty in receiving or gaining access to the interim report posted onthe Company Website will promptly upon request be sent the interim report in printed form free ofcharge. Shareholders may at any time change their choice of the means of receipt (either in printed form orvia the Company Website) of Corporate Communications. Shareholders may send their request to receive the interim report in printed form, and/or to changetheir choice of the means of receipt of Corporate Communications by notice in writing to the shareregistrarof the Company,Computershare Hong Kong Investor Services Limited at 17M Floor,Hopewell Centre, 183 Queen’s Road East, Wanchai, Hong Kong or by sending an email to the shareregistrar of the Company at yunfeng.ecom@computershare.com.hk. 18317Myunfeng.ecom@computershare.com.hk Page(s) Corporate information2Management discussion and analysis4Embedded value29Other information31Review report38Condensed consolidated income statement40Condensed consolidated statement of comprehensive income42Condensed consolidated statement of financial position43Condensed consolidated statement of changes in equity45Condensed consolidated statement of cash flows46Notes to the condensed consolidated interim financial statements47 Corporate information BOARD OF DIRECTORS Chairman Mr. Yu Feng(Non-Executive Director) Executive Directors Mr. Fang Lin(Chief Executive Officer)Mr. Huang Xin Non-Executive Directors Mr. Michael James O'ConnorMs. Hai Olivia Ou Michael James O'Connor Independent Non-Executive Directors Mr. Qi DaqingMr. Chu Chung Yue, HowardMr. Xiao Feng AUDIT COMMITTEE Mr. Chu Chung Yue, Howard(Chairman)Mr. Qi DaqingMr. Xiao Feng REMUNERATION COMMITTEE Mr. Qi Daqing(Chairman)Mr. Huang XinMr. Chu Chung Yue, HowardMr. Xiao Feng NOMINATION COMMITTEE Mr. Yu Feng(Chairman)Mr. Qi DaqingMr. Chu Chung Yue, Howard AUTHORISED REPRESENTATIVES Mr. Fang LinMr. Chan Man Ko COMPANY SECRETARY Mr. Chan Man Ko Corporate information AUDITOR KPMGCertified Public AccountantsPublic Interest Entity Auditor registered inaccordance with the Accounting and FinancialReporting Council Ordinance BANKERS Bank of CommunicationsChina Construction Bank (Asia)Bank of China (Hong Kong)China Minsheng Banking Corporation LimitedThe Hongkong and Shanghai Banking Limited REGISTERED AND PRINCIPAL OFFICE Rooms 1803-180618th Floor, YF Life Centre38 Gloucester RoadWanchai, Hong Kong 38181803-1806 SHARE REGISTRAR 183171712-1716 Computershare Hong Kong Investor Services LimitedShops 1712-1716,17th Floor, Hopewell Centre183 Queen’s Road EastWanchai, Hong Kong WEBSITE www.yff.com www.yff.com STOCK CODE 376 376 Management discussion and analysis Theboard of directors(the“Board”)of YunfengFinancialGroup Limited(the“Company”)submitherewiththe unaudited condensed consolidatedinterim results and financial position of the Companyand its subsidiaries (collectively, the “Group”) for thesixmonths ended 30 June 2024(the“First Half of2024”, “1H 2024” or the “Period”), together with thecomparativefigures for the corresponding period in2023 (the “Prior Period” or “1H 2023”). OVERVIEW In the First Half of 2024, the economy of Hong Kongrecorded a moderate growth. The central governmenthasrolled out various measures benefitting HongKong to support the local economic growth. Despiteuncertaintiesin geopolitical tension and marketinterestrate forecast,and the digitalisation andvirtualisationof insurance industry posing manydifferentchallenges,the Group has adapted tod ifferentchanges,identify and overc ome thosec h a l l e n g e st o e n h a n c e c o m p e t i t i v e n e s s ,w h i l eactivelyseeking suitable business opportunity underthecurrent market conditions to expand source ofrevenue and enhance the Shareholders’ value. TheGroup’s main sources of revenue include lifei n s u r a n c ep r e m i u m i n c o m e a n d o t h e r f i n a n c i a lbusinesses.There is no material change in theGroup’s core business activities compared to that ofyear 2023. F o rt h e P e r i o d ,t h e G r o u p ’ s i n s u r a n c e r e v e n u ea m o u n t e dt o H K $1,378 m i l l i o n ,r e p r e s e n t i n g a nincrease of 10% compared to that of HK$1,257 millionfor the Prior Period. The Group’s consolidated profitamountedto HK$376 million compared to that ofHK$267million for the Prior Period.The net profitattributableto equity shareholders of the Companyamountedto HK$201 million compared to HK$138million for the Prior Period. The increase in net profitattributableto equity shareholders of the Companyforthe Period was mainly due to the benefit oftheimprovement of the Group’s overall operatingp