China Foreign Economy and Trade Trust

China Foreign Economy and Trade Trust Co., Ltd. known as FOTIC is a Chinese asset management company (as trust company). The company is a wholly owned subsidiary of Sinochem Group (via Sinochem Corporation for 93.07% and another subsidiary for 6.93%).

China Foreign Economy and Trade Trust
FOTIC
state-owned subsidiary
IndustryFinancial services
Founded1987
Headquarters
Beijing
,
China
Area served
mainland China
Revenue CN¥2.474 billion (2015)
CN¥1.513 billion (2015)
CN¥1.204 billion (2015)
Total assets CN¥7.591 billion (2015)
Total equity CN¥7.434 billion (2015)
Owner
  • Chinese Central Government (100%)
  • (via Sinochem Group)
Parent
Sinochem Corporation(direct)
Sinochem Group(intermediate)
SASAC(intermediate)
The State Council0(ultimate)
Websitefotic.com.cn
Footnotes / references
source[1]
China Foreign Economy and Trade Trust Co., Ltd.
Simplified Chinese中国对外经济贸易信托有限公司
Traditional Chinese中國對外經濟貿易信託有限公司

History

FOTIC was incorporated on 30 September 1987 (as Chinese: 中国对外经济贸易信托投资; lit.: 'China Foreign Economy and Trade Trust Investment Corporation'). Since 1994, FOTIC was a subsidiary of Sinochem Group (formerly known as China National Chemicals Import & Export Corporation).[2] Some assets and liabilities were transferred to Exim Bank of China that year.[2]

Equity investments

In 2004 the company was one of the investor of the Pacific Securities (a listed company since 2007 as SSE: 601099) for 22.56% stake. In 2007 it was diluted to 10.00%.[3] At the same time, FOTIC also signed a shareholders' agreement with 5 companies, making the consortium acted as the largest shareholder of the Pacific Securities.[3] The agreement expired in March 2010, which FOTIC withdrew from the renewed agreement.[4] In June 2011 to March 12 FOTIC sold 5.02% shares of the Pacific Securities, which the shares were no longer restricted to sell due to 2007 IPO (a 36 months restriction), making FOTIC owned below 5% shares, the threshold to regularly disclose its interests.[5][6][7][8][9] It was further decreased to 4.58% on 31 March,[10] 2.39% on 30 June[11] to below 2% on 30 September (the 10th largest shareholder owned 2.08% and the shares held by FOTIC was not included in the top 10).[12]

The company also owned 49% stake of Manulife-Sinochem Life Insurance until January 2012. The stake were transferred to another subsidiary (Chinese: 中化集团财务) of Sinochem Group.[13]

gollark: I believe this is O(n!), actually.
gollark: The performance is great too. It's not O(n²), it's an even more biggerer and thus superior order.
gollark: Of course.
gollark: I'm not entirely sure how, but it seems to construct a tree/maybe deterministic finite automaton/finite state machine/I don't know theoretical CS which matches anagrams and unmatches unanagrams.
gollark: ```pythonimport collectionsdef do_thing(s): if len(s) == 1: return { s[0]: True } out = {} for i, c in enumerate(s): without = s[:i] + s[i + 1:] things = do_thing(without) out[c] = things return outdef match(r, s): print(r) c = r for i, x in enumerate(s): print(x) try: c = c[x] if c == True: if i + 1 == len(s): return True # full match else: return False # characters remain except KeyError: return False # no match return False # incomplete matchentry = lambda a, b: match(do_thing(a.lower().replace(" ", "")), b.lower().replace(" ", ""))```Here is my entry (pending a port to osmarkslisp™️). This is definitely my entry.

References
  1. "2015 Annual Report" (PDF) (in Chinese). China Foreign Economy and Trade Trust. 29 April 2016. Retrieved 10 February 2017.
  2. 关于中国化工进出口总公司进行综合商社试点的批复 (in Chinese). The State Council of China. 31 December 1994. Retrieved 9 February 2017.
  3. "A 股股票上市公告书" (PDF). The Pacific Securities (in Chinese). Shanghai Stock Exchange. 27 December 2007. Retrieved 9 February 2017.
  4. "2010 Annual Report" (PDF). The Pacific Securities (in Chinese). Shanghai Stock Exchange. 22 April 2011. Retrieved 9 February 2017.
  5. 关于股东减持公司股份的提示性公告 (PDF). The Pacific Securities (in Chinese). Shanghai Stock Exchange. 3 August 2011. Retrieved 9 February 2017.
  6. 关于股东减持公司股份的提示性公告 (PDF). The Pacific Securities (in Chinese). Shanghai Stock Exchange. 16 September 2011. Retrieved 9 February 2017.
  7. 关于股东减持公司股份的提示性公告 (PDF). The Pacific Securities (in Chinese). Shanghai Stock Exchange. 21 October 2011. Retrieved 9 February 2017.
  8. 关于股东减持公司股份的提示性公告 (PDF). The Pacific Securities (in Chinese). Shanghai Stock Exchange. 22 November 2011. Retrieved 9 February 2017.
  9. 关于股东减持公司股份的提示性公告 (PDF). The Pacific Securities (in Chinese). Shanghai Stock Exchange. 22 March 2012. Retrieved 9 February 2017.
  10. "2012 First Quarterly Report" (PDF). The Pacific Securities (in Chinese). Shanghai Stock Exchange. 27 April 2012. Retrieved 9 February 2017.
  11. "2012 Interim Report" (PDF). The Pacific Securities (in Chinese). Shanghai Stock Exchange. 25 August 2012. Retrieved 9 February 2017.
  12. "2012 Third Quarterly Report" (PDF). The Pacific Securities (in Chinese). Shanghai Stock Exchange. 27 October 2012. Retrieved 9 February 2017.
  13. "2012 Annual Report" (PDF) (in Chinese). Manulife-Sinochem Life Insurance. 25 April 2013. p. 34. Retrieved 9 January 2017.
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