World Acceptance Corp (WRLD) 2020年年度报告「NASDAQ」.pdf

1、2020 Annual Report1 COMPANY PROFILE WORLD ACCEPTANCE CORPORATION(“World”),founded in 1962,is one of the largest small-loan consumer finance companies in the United States.It offers short-term small loans,medium-term larger loans,related credit insurance products,and ancillary products to individuals

2、 who have limited access to other sources of consumer credit.It also offers income tax return preparation services to its customer base and to others.World emphasizes quality customer service and the building of strong personal relationships with its customers.As a result,a substantial portion of Wo

3、rlds business is repeat business from the renewal of loans to existing customers and the origination of new loans to former customers.As of March 31,2020,World had approximately 890,000 customers.During fiscal 2020,World loaned$2.9 billion in 1.9 million transactions.Worlds loans are generally less

4、than$4,000 with maturities of less than 42 months.Worlds average gross loan,including refinances,made in fiscal 2020 was$1,517,and the average contractual maturity was approximately twelve months.As of June 30,2020,World operated 1,240 offices in Alabama,Georgia,Idaho,Illinois,Indiana,Kentucky,Louis

5、iana,Mississippi,Missouri,New Mexico,Oklahoma,South Carolina,Tennessee,Texas,Utah and Wisconsin.TABLE OF CONTENTS 2 Item No.Contents Page Financial Highlights 3 Message to Shareholders 4 PART I 1.Business 6 1A.Risk Factors 18 1B.Unresolved Staff Comments 32 2.Properties 32 3.Legal Proceedings 32 4.M

6、ine Safety Disclosures 34 PART II 5.Market for Registrants Common Equity,Related Stockholder Matters and Issuer Purchases of Equity Securities 34 6.Selected Financial Data 36 7.Managements Discussion and Analysis of Financial Condition and Results of Operations 37 7A.Quantitative and Qualitative Dis