Wins Finance Holdings Inc (WINS) started its trading session with the price $132.8 and closed at price of $143 by losing -1.38% in recent trading session. Day range of the stock was $132.8 – $143. WINS stock traded with total volume of 290 shares while the average trading capacity remained 542 shares. Earnings per share was $1.01. WINS has total market capitalization of $2836782949
Wins Finance Holdings Inc. (NASDAQ: WINS), a diversified investment and asset management company that provides integrated financing solutions to small and medium enterprises (“SMEs”) in China, today announced its unaudited financial results for the fiscal six months ended December 31, 2017.
Fiscal Six Months Financial and Operational Highlights
- Gross revenue was $5.3 million, compared to $4.8 million for the corresponding period ended December 31, 2016.
- Interest income on short-term investments was $7.5 million, compared to $6.8 million for the corresponding period ended December 31, 2016.
- Net income attributable to Wins Finance was $9.2 million, compared to $11.0 million for the corresponding period ended December 31, 2016.
Renhui Mu, Chairman and Chief Executive Officer of Wins Finance said “Our gross revenue increased 10% for the first six months of fiscal 2018 as compared to same period a year ago as our financial advisory business increased by 227%, though this was offset by a 26% decrease in our financial guarantee business. However, our net income fell 17%, primarily due an increase in our expenses”.
“We continue to work to optimize the company’s business and operating structure. The economic slowdown in Shanxi Province’s economy, our main market for our guarantee business, could lead to an increased risk of potential loan default despite our extensive screening process, so we plan to make fewer loan guarantees. Instead, we plan to focus on growing our financing lease business, which we believe will continue to expand in the future.”
Mr. Mu added “In order to plan for growth and reduce the cost of bank financing, we plan to increase our capital and strive to improve the Company’s credit rating with our lenders. This could take the form of an issuance of securities as outlined in our registration statement on Form F-3,”