Description:Profile of Fortune Auto Finance Co., Ltd. With a registered capital of 1 billion Yuan and headquartered in Hefei, Anhui, Fortune Auto Finance is the 17th financially licensed professional auto finance company of China permitted by CBRC, and also the first Sino-foreign auto finance company established by a home-grown auto company. The company was prepared in April 2012 and officially established in January next year. The main business is to provide end customers with installment business and auto distributors with the financing for unsold cars. After six years of rapid development, the company is booming in business and enhancing in risk management with steadily progressive team construction and unceasingly climbing performance, making it a powerful player in the market. As of the end of October 2019, the company had provided financing service for a total of 1 million end customers and more than 230 auto distributors. The company runs assets of more than 22 billion Yuan. The company operates business throughout China. As a headquartered financial institution, the company mainly relies on agents all over China to obtain customers in need of auto loans. At present, FAF has cooperated with more than 600 JAC distributors, around 400 auto 4S stores and more than 200 regional business agents across China, covering all mainstream auto brands, 31 provinces, cities and administered counties and prefectures. Our customers can successfully complete the auto loan and mortgage business at all vehicle administration departments throughout China (excluding Hong Kong, Macao and Taiwan). The company has fully expanded its business scopes. FAF has set the strategic development goal of “becoming a leader of auto finance in China” since its inception for the purpose of offering premium financing services for auto sales. Its business has now been expanded to JAC passenger vehicles, new-energy vehicles, light passenger vehicles, full-branded passenger vehicles, light commercial vehicles and second-hand passenger vehicles. The service for JAC heavy commercial vehicles and full-branded commercial vehicles is also under investigation and preparation. FAF is now one of the most pervasive professional auto finance companies in the industry. The company boasts extraordinary risk control ability. Although not having been operated for long, FAF boasts the risk control ability inheriting from the hundred-year-long risk control experience and measures of its shareholder Santander Consumer Bank AG in Europe. Based on a solid foundation, the company filters risks by means of product design, channel access control, operation procedure and many other parts, and valuates the performance capability of customers across the board by means of telephone evaluation, door-to-door visit, and third-party data input. The outcome has been positively proven by the reality. With healthy risk indicators four years after the establishment, the company is recognized by the capital market and supervisory departments. The collection force has been beefing up. The company now has a three-layered collection system. The first layer is the telephone collection by customer service specialists in the headquarters, which mainly targets at overdue customers at early stage; the second layer is the door-to-door collection by a team of nearly a hundred collectors, which mainly targets at customers in serious violations; the third layer is the outsourced collection in cooperation with multiple nationwide or locally-leading collection companies. Protected by the three-layered collection team, we can effectively control the number of fraudulent and intentional violations, and offer guarantees for the risk control department to loosen the threshold. Our service efficiency leads the industry. For the need of rapid development and fierce competition, the operating efficiency of our business has ramped up and maintained an industrially-leading position. At present, the company promises a two-hour deadline for retail approval, among which 30% orders are approved instantly by the IT system. The company further decentralizes the approval permission to premium agents nationwide, simplifies and pre-poses granting requirements and nodes, thus greatly enhancing the experience of distributors and customers. The company has advantageous financing ability. As a formally licensed institution with powerful shareholders, FAF has outstanding financing ability. It is now cooperating with 40-plus banks nationwide with an inter-bank credit line of more than 20 billion Yuan. Since the first issuance of ABS amounting to 1 billion Yuan in 2017, the company has up to now successfully issued 11 billion of ABS, and another 1.5 billion Yuan of financial bonds were successfully issued in 2019. Based on preliminary fast development, FAF will join hands with domestic peers to become one of the leaders of the auto finance industry by depending on the aggressive support of all social sectors