Recently, CBRC Xinjiang Office gave an official written approval for the change of registered capital and ownership structure of Huarong International Trust Co., Ltd. (hereafter abbreviated as Huarong Trust). As stated in the official document of Xin Yin Jian Fu [2017] 60, the approved increase of capital is 2.4 billion RMB, among which 1.6 billion RMB is from Greatwall Life Insurance Co., Ltd. (hereafter abbreviated as Greatwall) and 800 million RMB is from Zhuhai Great Aim Group Co., Ltd (hereafter abbreviated as Great Aim). As a result, the registered capital of Huarong Trust is increased from 2.369 billion RMB to 3.036 billion RMB.
At 11:00 a.m. on December 30, 2016, the signing ceremony began at the China Pacific Insurance Building in Beijing. Great Aim formally completed its acquisition of 7.3% of the equity of Huarong Trust with 800 million RMB and became the third largest shareholder. It signifies Great Aim’s formal entry to finance area. In the future, real estate, high technology and finance will form the firm triangular structure for the sustained development of Great Aim.
Zhou Daoyu, Chairman of the Board of Huarong Trust, is making a speech
In the signing ceremony, Zhoudaoyu, Chairman of the Board of Huarong Trust, made the following speech: The absorption of strategic investment makes Huarong Trust a company with shareholders of central enterprise, state-owned enterprise and private enterprise, which signifies the opening of a new page of mercerization, diversification and tantalization development for Huarong Trust and also puts a firm foundation for the listing and long-term development of Huarong Trust.Taking this opportunity, Huarong Trust will continuously enhance the management system, improve managerial capacity and risk control ability, strengthen the ability of innovation and enhance team building to create more value for the country, shareholders, clients, employees and society; and it will make arduous efforts to make Huarong Trust a top trust company with the tenet of “Reliable for the Country, Trustworthy for People, Create Value for Society and Realize Dream for Employees”.
Yu Daoqun, President of Great Aim Group, making a speech
In the signing ceremony, the President of Great Aim Group, Yu Daoqun says that as a private enterprise located in a remote area, Great Aim is lucky to become the third largest shareholder of Huarong Trust. After 23 years’ development, Great Aim has already become a comprehensive group with assets of over 180 billion RMB. In real estate, it owns more than 4 million m2 land reserve with an annual development area of over 1.5 million m2. In the area of high & new technology, Great Aim has 31 patented technologies that are top-ranking internationally and brings over 100 billion RMB’s annual revenue. The investment in Huarong Trust signifies that Great Aim has formally entered the area of finance. The Board of Great Aim has decided that real estate, high and new technologies and finance are the cornerstones for the future development of Great Aim; the Board also anticipates that this investment in Huarong Trust can inject a new momentum to the future development of Great Aim Group.
The Signing Ceremony between Huarong Trust and Great Aim
Shen Yiming, General Manager of Huarong Trust
Yu Daoqun, President of Great Aim Group
(Signing Ceremony)
Huarong Trust is a non-banking financial organization founded on May 19, 2008. It has rich product types including loan, stock investment, equity investment, securities investment, industry investment fund, merger and acquisition fund, and asset securitization; its investment areas mainly include real estate, industrial and commercial enterprises, basic industry, securities investment and financial organization. At present, it has already provided over 70 billion RMB’s comprehensive financial service for hundreds of domestic enterprises and developed noticeable brand influence and market recognition within the industry. It also has won multiple industrial awards such as the Advanced Group by CBRC, the Gold Medal Growth Trust Company of the Year in China, the Excellent Fortune Management Center of the Year, the Excellent Financial Service Brand, the Excellent Financial Management Center, the Taurus Trust Company, the Excellent Fortune Management Brand Award, etc.
Reporter: Gaoshang Photographer: Xing Guofeng