Asset Management Company China Huarong Co., Lts. known as China Huarong (中国 华融) is China's largest Asset Management Finance company by asset size, with a focus on distressed debt management. It is one of four asset management companies established by the PRC government in 1999 in response to the 1997 Asian financial crisis .
| China Huarong Asset Management Company | |
|---|---|
| Type of | State enterprise |
| Exchange listing | |
| Founders | PRC Government |
| Location | |
| Key figures | Wang Zhangfeng (company secretary) Lai Xiaoming (former chairman) |
| Industry | Financial services industry |
| Turnover | 75.4 billion yuan |
| Operating profit | 22.2 billion yuan |
| Net profit | 14.5 billion yuan |
| Assets | 866.5 billion yuan |
| Parent company | Ministry of Finance of the PRC |
| Site | |
China Huarong Asset Management Co., Ltd. | |||||||
|---|---|---|---|---|---|---|---|
| Simplified Chinese : | 中国 华融 资产 管理 股份有限公司 | ||||||
| traditional chinese : | 中國 華融 資產 管理 股份有限公司 | ||||||
| |||||||
Content
History
On November 11, 1999, China Huarong was registered in Beijing as China Huarong Asset Management Corporation (China: 中国 华融 资产 管理 公司), was one of four asset management companies approved by the State Council of the PRC . In 2000, China Huarong began to acquire non-performing loans in RMB, 407.696 million from the Industrial and Commercial Bank of China . Later, in 2012 [2] , the company became China Huarong Asset Management Co., Ltd. (Chinese. 中国 华融 资产 管理 股份有限公司). In August 2014, China Huarong introduced seven strategic investors, including Warburg Pincus, CITIC Securities International, Khazanah Nasional, China International Capital Corporation, COFCO Group, Fosun International and Goldman Sachs. The Ministry of Finance of China remained the controlling shareholder, while China Life Insurance Group increased its stake. [3] [4]
In October 2015, China Huarong received $ 17.8 billion through an initial public offering (IPO), offering 5.77 billion new shares in Hong Kong. [five]
Branches
- Huarong International Finance Company ( SEHK : 993 )
Equity Investments
- Baiyin Nonferrous (0.30%)
- Fenxi mining industry group
- Taiyuan Coal Gasification Group (2.46%)
- Xinjiang Ba Yi Iron and Steel Group (7.95%)
- Fullshare Holdings (9.88% indirectly) [6]
Links
- ↑ https://www.hkex.com.hk/eng/invest/company/profile_page_e.asp?WidCoID=2799&WidCoAbbName=&Month=&langcode=e
- ↑ 中国 东方 资产 管理 股份有限公司 成立 - 中新网
- ↑ Milestones_CHAMC
- ↑ http://www.hkexnews.hk/listedco/listconews/SEHK/2015/1030/a5602/ECHINAHUARONG-20150702-06.PDF
- ↑ China Huarong raises $ 2.3bln in Hong Kong IPO-IFR | Reuters
- ↑ 2016 Annual Report 102–103. Fullshare Holdings (April 20, 2017). - “Reference is made to the disclosure of interest forms dated December 21, 2016 of Superb Color, published on the Stock Exchange's website. Superb Color is interested in 1,948,613,450 Shares. Superb Color is a wholly-owned subsidiary of China Huarong International, which in turn is owned as to 88.1% by Huarong Real Estate. Huarong Real Estate is a wholly-owned subsidiary of China Huarong Asset, a State-owned entity, which in turn is owned as to 63.36% by the MFC. As such, each of China Huarong International, Huarong Real Estate, China Huarong Asset and the MFC is deemed to be interested in the said Shares under the SFO. ” Date of treatment July 29, 2017.
External links
- - The official website of China Huarong