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1606 — China Development Bank Financial Leasing News Story

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China's CDB Leasing H1 profit rises 21% on higher operating lease income

China's CDB Leasing H1 profit rises 21% on higher operating lease income


Overview

  • China financial leasing firm's H1 net profit rose 21.1% yr/yr on higher operating lease income

  • Total lease revenue for H1 up 4.9% yr/yr; operating lease income rose, finance lease income fell


Outlook

  • CDB Leasing's $860 mln capital increase in wholly owned CDB Aviation remains in progress


Result Drivers

  • OPERATING LEASE GROWTH - Higher operating lease income, especially from aircraft and ship leasing, drove overall revenue increase, per company

  • LOWER FINANCING COSTS - Reduced financing costs contributed to profit growth, per company

Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

H1 Net Income Attributable

RMB 2.91 bln


Analyst Coverage

  • The stock recently traded at 3 times the next 12-month earnings vs. a P/E of 3 three months ago


Reuters Recommended Reads

  • Aug 28 - COSCO Shipping Energy Transportation H1 profit jumps on higher tanker rates

  • Aug 28 - China's Zhongguancun Science-Tech operating lease income jumps 265% as industry-finance model gains traction

  • Aug 30 - Air China H1 net loss widens to about $341 million, filing shows


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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