We are committed to implementing a development strategy driven by both inclusive finance and technology finance. By establishing the Inclusive Finance Department, Internet Lending Department, Technology Finance Department and Insurance Brokerage Department, we continue to expand and reinforce our business, achieving steadily growing quality of credit assets and continuous enhancement of profitability and completing our transformation from a traditional financial company to a technology finance service company.

On behalf of the board of directors of China Huirong Financial Holdings Limited, I am pleased to present the annual report for the year ended 31 December 2018.

In 2018, the Company proactively adjusted its development strategies in response to adverse economic and industrial environment. By targeting provincial capital cities with good economic development, we optimised and strengthened our real estate mortgage business and accelerated the expansion across regions, forming a steadily developing momentum in business. The Company also engaged in the on-lending business based on bank cooperation, providing loans for an especially short-term that mainly last from a few days to over ten days. Such service mitigated business risks and yielded good economic benefits. In addition, the Company took initiatives to embrace the development in technology finance by performing active exploration and attempt in areas such as big-data risk control and supply chain technology. In terms of management, the Company further strengthened its refined management, basically realizing product standardization and whole-process control. This serves as a robust guarantee for controlling risks and sustaining business, and lays a solid foundation for business development in 2019.

For such results achieved in the economy downturn, I would like to express my sincere gratitude on behalf of the Board to all of our staff for their diligent contribution and to all shareholders for their full support.

In 2019, Wu Min