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Chairman Speech

The PRC's economic growth over the past 30 years has created a growing private enterprise sector. The expansion of businesses and various commercial activities has created a growing demand for funding. However, SMEs often lack the track record to obtain sufficient lines of credit from commercial banks for their business development. In view of the above difficulties, the Group aims to facilitate SME's access to credit lines by providing guarantee services to them. SMEs were the main focus of the Group's business and accounted for a substantial portion of the Group's turnover.
C.A.F believes that the credibility, responsibility, risk control and the ability of counter-guarantee are the key to success :-
1) Each of the Company's operating subsidiaries have a registered capital of more than RMB100 million - We believe that the increasingly strict requirements on paid-up registered capital could provide the Group with a significant competitive advantage and a healthy development environment for the business;
2)C.A.F provides convenient and quick guarantee services - We complements the role played by commercial banks by providing speedy, convenient and efficient services for customers who need financing on short notice;
3)C.A.F has a stable and recurring customer base - Through the Group's dedication to understand and satisfy the needs of many SMEs, the Group has maintained a good business relationship with its customers;
4)C.A.F has an established relationship with a number of banks - We believe that the Group's reputation on banks with regard to its risk assessment capability and professionalism would provide the Group with a significant competitive advantage over its competitors. It also facilitates more cooperative opportunities with other reputable banks in the future;
5)C.A.F has an effective risk management and monitoring process to assess the value of collaterals and conduct post-transaction monitoring;
6)C.A.F has an experienced management team - We consider the strength of our management team is fundamental to the Group's success. And we believe that the extensive experience of the Group's management team, together with their industry knowledge and understanding of the market, should enable the Group to continue to take advantage of future market opportunities and expand into new markets;
7) C.A.F accepts customers' overseas assets as counter-guarantees - We offer flexibility to potential customers which have valuable fixed assets located outside the PRC, and facilitates those customers in securing credit facilities from the banks. The above mentioned competitive strengths of our group are difficult to substitute.
After 10 years of development, the guarantee industry in the PRC presents a more positive trend for its future development. With the support of the Chinese government, financial support and subsidies plan are available for guarantee institutions. The promulgation of stricter rules and regulations regulating the development of the guarantee industry also leads to an integration of this industry. Furthermore, with the involvement of guarantee institutions, banks are more willing to lend to SMEs as their risks can be dispersed, which presented a win-win environment for both guarantee institutions and banks. On this basis, the Directors are optimistic to the future development of the guarantee industry in the PRC.
We will strive for being the leader of the guarantee company in Hebei Province and Xiamen, and plans to maintain and strengthen the market share in Hebei and Xiamen. In order to achieve these business objectives, we plan to: expand our market share in Hebei and Xiamen; expand our existing business, services and employ more experts and allocate more resources to improve risk.

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