CDB Leasing (China Development Bank Financial Leasing Co., Ltd.) released its 1H 2026 interim results, underscoring resilient performance amid a mixed macro backdrop.
Revenue and Profitability • Total revenue and other income slipped 3.10% year-on-year to RMB 14.21 billion. • Net profit attributable to shareholders rose 21.10% to RMB 2.91 billion. • Annualised ROA improved to 1.34% (+0.17 ppt), while annualised ROE climbed to 13.01% (+1.28 ppt).
Segment Trends • Finance lease income fell 12.70% to RMB 4.40 billion, representing 31.0% of operating income. • Operating lease income increased 17.70% to RMB 8.24 billion, lifting its share to 58.0% of operating income. • Aircraft leasing revenue gained 0.80% to RMB 5.93 billion; ship leasing 3.35 billion (−3.80%); energy leasing 1.74 billion (+41.20%); high-end equipment leasing 1.53 billion (−9.70%); inclusive finance 1.27 billion (−23.70%). • Aircraft fleet totaled 481 aircraft and seven engines, including 166 committed units; operating fleet utilisation (ex-Russia) reached 99.6%. • Ships in operation numbered 235; average utilisation stood at 99.1%. • Green-energy assets under management reached 25.48 GW; new energy leasing investment rose 29% to RMB 22.04 billion.
Asset Quality and Capital • Total assets were RMB 431.96 billion, down 0.30% from end-2025. • Non-performing asset ratio remained contained at 0.70%; provision coverage was 404.08%. • Core Tier-1, Tier-1 and total capital adequacy ratios reached 11.64%, 11.64% and 13.68%, comfortably above regulatory minimums. • Liquidity coverage ratio stood at 146.65%; gearing ratio at 10.31%.
Costs and Expenses • Total expenses declined 9.30% to RMB 10.54 billion, led by a 23.80% drop in impairment losses and 5.20% lower interest expenses. • Depreciation and amortisation increased marginally by 0.60% to RMB 3.87 billion.
Cash Flow and Capital Expenditure • Net operating cash inflow reached RMB 8.18 billion (−32.70% YoY). • Capital expenditure totaled RMB 11.94 billion, mainly for aircraft, ships and specialised equipment purchases.
Dividend and Corporate Updates • The board did not recommend an interim dividend for 1H 2026. • On 18 September 2026 the NFRA Shenzhen Office approved the appointment of Mr. Bao Quanyong as President, Executive Director and Vice Chairman. • Baker Tilly Hong Kong Limited was appointed auditor for FY 2026, replacing BDO.
Outlook Management reiterated a focus on “stable progress” through specialised, market-oriented and digital strategies, with emphasis on aviation, shipping, energy, high-end equipment and inclusive finance, and reaffirmed the target of maintaining industry-leading asset quality and capital strength.
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