MYFW Latest Report

Financial Performance

First Western (stock code: MYFW) recorded a total operating revenue of RMB233.67 million as of December 31, 2024, up approximately 4.9% from RMB224.12 million as of December 31, 2023. This growth was mainly driven by a significant increase in insurance business revenue and an increase in interest income, indicating progress in the company's operational activities.

Key Financial Data

1. Growth in Operating Revenue: Operating revenue in 2024 was RMB233.67 million, up 4.9% from 2023.

2. Performance of Insurance Business: Insurance business revenue in 2024 was RMB17.76 million, up 74.1% from RMB1.02 million in 2023.

3. Increase in Interest Income: Interest income increased from RMB16.33 million in 2023 to RMB16.90 million, reflecting effective asset management.

4. Recovery in Operating Income: Operating income in 2024 was RMB39.14 million, a significant improvement from RMB-43.57 million in 2023, indicating a rebound in profitability.

5. Improved Market Environment: The overall recovery in the financial services industry and the improvement in the macroeconomic environment contributed to the growth in the company's operating income.

Peer Comparison

1. Industry-wide Analysis: The financial services industry experienced a recovery in 2024, with increased loan demand and rising interest rates promoting overall operating revenue growth, reflecting an improved industry environment.

2. Peer Evaluation Analysis: Compared to other companies in the industry, MYFW's operating revenue growth rate was higher, especially under the promotion of insurance business and interest income, demonstrating strong market competitiveness and operational efficiency.

Summary

From the financial data, First Western achieved a recovery and growth in operating income in 2024, mainly benefiting from the successful transformation of insurance business and stable growth in interest income. In line with the overall industry recovery trend, the company's competitiveness in the market has been enhanced, showing good financial health.

Opportunities

1. Continuous innovation and optimization of insurance business may further drive future revenue growth.

2. In the context of rising interest rates, First Western can enhance overall revenue levels by optimizing asset allocation and increasing long-term yielding products.

3. The improved overall market environment provides more growth opportunities, especially in terms of diversified financial products.

Risks

1. Intensified competition may lead to a decrease in insurance business profitability, affecting overall profitability.

2. Fluctuations in macroeconomic and policy may negatively impact the company's financial performance, requiring continuous monitoring of market changes.

3. Higher external regulatory requirements may increase compliance costs and affect operational efficiency.