1. When was China Huarong Asset Management Co., Ltd. incorporated?
China Huarong Asset Management Corporation was founded on November 1, 1999. On September 28, 2012, China Huarong was converted into a joint stock limited company upon the approval of the State Council and was renamed to China Huarong Asset Management Co., Ltd. (China Huarong).
2. When was China Huarong listed? Where is the China Huarong's stock traded? And what is the stock code?
On October 30, 2015, China Huarong was listed on the Main Board of the Hong Kong Stock Exchange with the stock code of 2799.HK.
3. Who is the share registrar of China Huarong?
The H share registrar of China Huarong is Computershare Hong Kong Investor Services Limited.
4. What accounting standards does China Huarong adopt? And who is the external auditor?
The 2018 consolidated financial report of the Company prepared in accordance with PRC GAAP and IFRS have been audited by Deloitte Touche Tohmatsu and Deloitte Touche Tohmatsu Certified Public Accountants LLP.
5. Who are China Huarong's controlling shareholder and substantial shareholders?
China Huarong's controlling shareholder is the Ministry of Finance of the PRC(MOF). As of December 31 2018, MOF directly holds 63.36% of total shares of the Company. The other substantial Shareholders of the Company include China Life Insurance (Group) Company, Warburg Pincus LLC, Sino-Ocean Group Holding Limited.
6. How many branches and subsidiaries are owned by China Huarong?
Currently, China Huarong has 31 branches with geographic coverage across 30 provinces, autonomous regions and municipalities in mainland China as well as in Hong Kong and Macau. Its operating subsidiaries include Huarong Securities, Huarong Financial Leasing, Huarong Xiangjiang Bank, Huarong Trust, Huarong Futures, Huarong Rongde, Huarong Real Estate, Huarong International and Huarong Consumer Finance.
The National Service Network of China Huarong
7. What are the principal business segments of China Huarong？
The Group’s principal business segments are comprised of (i) distressed asset management segment; (ii) financial services segment; and (iii) asset management and investment segment.
Distressed Asset Management: The Group’s distressed asset management segment is mainly comprised of distressed debt asset management business of the Company, DES asset management business of the Company, distressed asset management business conducted by our subsidiaries, distressed asset-based special situations investments business, and distressed asset-based property development business. Distressed asset management business is the foundation of all product business systems of the Group and an important source of income and profit of the Group.
Financial Services: By leveraging the Group’s multiple financial licenses, the Group provides its clients with flexible, customized and diversified financing channels and financial products through a comprehensive financial services platform composed of Huarong Securities, Huarong Futures, Huarong Financial Leasing, Huarong Xiangjiang Bank and Huarong Consumer Finance. This creates a comprehensive financial service system which covers the different business life cycles and the entire value chain of clients.
Asset Management and Investment: Benefiting from capital, customers and technical advantages accumulated from the distressed asset management business and financial services business of the Group, our asset management, gains and losses and investment business generates commission and fee income, as well as investment income through asset management, financial investments, international business and other businesses. The asset management and investment business of the Group enhances the overall profitability of the distressed asset management business and optimizes the business and income structure of the Group. The Group’s asset management and investment business is a natural extension and supplement of its distressed asset management business and serves as an important platform for providing the Group’s clients with a comprehensive array of diversified asset management, investment and financing services.