China Huarong Asset Management

From Wikipedia, the free encyclopedia

This is an old revision of this page, as edited by Matthew hk (talk | contribs) at 16:27, 20 November 2016 (→‎History: CSI ref). The present address (URL) is a permanent link to this revision, which may differ significantly from the current revision.

China Huarong Asset Management
Company typepublic
SEHK2799 (H share)
IndustryFinancial services
Headquarters,
China
Area served
China
Key people
Lai Xiaomin (Chairman)
ServicesAsset Management
RevenueIncrease CN¥75.4 billion (2015)
Increase CN¥22.2 billion (2015)
Increase CN¥14.5 billion (2015)
Total assetsIncrease CN¥866.5 billion (2015)
Total equityIncrease CN¥98.1 billion (2015)
Owner
ParentMinistry of Finance of China
Footnotes / references
in a consolidated basis[1]
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

China Huarong Asset Management Co., Ltd. known as just China Huarong (Chinese: 中国华融) is the largest[according to whom?] financial asset management company in China in terms of total assets, with a focus on distressed debt management. It was one of the four asset management companies that the Government of China established in 1999 in response to the 1997 Asian financial crisis.

History

On November 11, 1999, China Huarong was incorporated in Beijing as China Huarong Asset Management Corporation (Chinese: 中国华融资产管理公司), which was one of the four asset management companies as approved by the State Council of the People's Republic of China. In 2000, China Huarong began to acquire Non-performing loan of RMB 407,696 million[citation needed] from Industrial and Commercial Bank of China. The company later became a limited company: China Huarong Asset Management Co., Ltd. (Chinese: 中国华融资产管理股份有限公司) in 2012.[2]

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 while the Ministry of Finance of the People's Republic of China remained to be the controlling shareholder and China Life Insurance Group increased its shareholding.[3][4]

In October 2015, China Huarong raised HK$17.8 billion through an initial public offering (IPO), offering 5.77 billion new shares in Hong Kong.[5]

Equity investments

References

  1. ^ "2015 Annual Report" (PDF). China Huarong. Hong Kong Stock Exchange. 28 April 2016. Retrieved 5 November 2016.
  2. ^ http://www.chinanews.com/cj/2016/08-30/7988753.shtml
  3. ^ http://www.chamc.com.cn/en/AboutUs/Milestones/index.shtml
  4. ^ http://www.hkexnews.hk/listedco/listconews/SEHK/2015/1030/a5602/ECHINAHUARONG-20150702-06.PDF
  5. ^ http://www.reuters.com/article/2015/10/23/chinahuarong-ipo-pricing-idUSL3N12N01U20151023#jWibsKKdIBI3J5Xg.97

External links