China Development Financial Holding Corporation (hereinafter referred to as "CDF") held its Q2 2023 investor conference today. During the conference, CDF shared its profit results as well as its overall operational performance. CDF reported an after-tax net income of NT$10.10 billion for the first half this year and EPS totaled at NT$0.61.
China Life reported an after-tax net income of NT$4.93 billion in the first half. As it continued to maintain prudent investment management, its pre-hedging recurring yield increased to 3.66% in the first half, an increase of 19bps from the same period last year. In addition, China Life has focused on high-value products and increased its market share of regular-paid policies, and its new business value profit margin has also increased to 34.3%.
KGI Securities reported an after-tax net income of NT$3.7 billion in the first half, a growth of 73% from the same period last year, with overseas profits contributing a YoY growth rate of 650%. KGI Securities has maintained its market leadership in various businesses, ranking first in both Equity Capital Markets (ECM) and Debt Capital Markets (DCM). Its brokerage market share has also increased to 11.0% from the same period last year.
KGI Bank reported an after-tax net income of NT$3.01 billion in the first half, with a YoY growth rate of 25% and 21% in its SME and personal loans businesses respectively. In addition, SuYin KGI Consumer Finance has delivered a profit of RMB 202 million in the first half this year, representing a YoY growth rate of 291%. The board of directors of KGI Bank approved a capital increase plan, which is expected to continue to boost its profitability performance as its shareholding ratio increases.
CDIB Capital Group reported an after-tax net income of NT$1.6 billion in the first half, and maintained a steady performance despite market volatility, with an overall investment return rate of 8.4% in the first half. As CDIB Capital Group continues to accelerate its AUM growth and exploring new asset management products and models, it plans to nurture strategic industry ecosystems, with a focus on key industries such as semiconductors, smart manufacturing, and sustainable development.
CDF stated that KGI Site has officially become a full subsidiary of CDF in July, and the name-change and rebranding proposal of China Life to KGI Life has obtained the approval from the Insurance Bureau. Moving forward, CDF will use its diversified business platform to create a consistent brand identity and focus on executing the group's core strategies to maintain long-term and stable development.