China Huarong Asset Management

China Huarong Asset Management Co., Ltd. known as just China Huarong (Chinese: 中国华融) is the largest 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.

China Huarong Asset Management Co., Ltd.
public
Traded as
unlisted(A share)
SEHK: 2799(H share)
ISINCNE100002367
IndustryFinancial services
FounderChinese Government
Headquarters
Beijing
,
China
Area served
China (Mainland and Hong Kong)
Key people
Wang Zhanfeng (Party Secretary)
Lai Xiaomin (former Chairman)
Servicesfinancial asset management
Revenue CN¥75.4 billion (2015)
CN¥22.2 billion (2015)
CN¥14.5 billion (2015)
Total assets CN¥866.5 billion (2015)
Total equity CN¥98.1 billion (2015)
Owner
ParentMinistry of Finance of China
Websitewww.chamc.com.cn/ 
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

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 acquiring Non-performing loan of RMB 407,696 million from the 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 the majority 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]

Subsidiaries
  • Huarong International Financial (SEHK: 993)

Equity investments
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Former

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gollark: It was used as a very weird DSL to control the backend of a network of neural-interfaced flying pigs on... Airsomething?, a creative-ish CC server.
gollark: For your information, I once implemented an extremely bad Lisp!
gollark: `let x = whatever` would have been very nice.

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. https://www.reuters.com/article/2015/10/23/chinahuarong-ipo-pricing-idUSL3N12N01U20151023#jWibsKKdIBI3J5Xg.97
  6. "2016 Annual Report" (PDF). Fullshare Holdings. 20 April 2017. pp. 102–103. Retrieved 29 July 2017. Reference is made to the disclosure of interest forms dated 21 December 2016 of Superb Colour, published on the Stock Exchange's website. Superb Colour is interested in 1,948,613,450 Shares. Superb Colour 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.
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