Incorporated on September 28, 2012 upon approval of the State Council, China Huarong Asset Management Co., Ltd. (Stock Code: 2799.HK, hereinafter referred to as “China Huarong”) is a state owned non-banking financial institution co-sponsored by the Ministry of Finance and China Life. The Company was previously known as China Huarong Asset Management Corporation, which was established on November 1, 1999 as one of China's four leading financial asset management companies. On October 30, 2015, the company was successfully listed on the Main Board of The Stock Exchange of Hong Kong Limited (“SEHK”).
By the end of 2016, the total assets of China Huarong reached 1,411.97 billion RMB which increased 62.9% over that of the previous year, enabling it to remain the largest asset management company in China. Meanwhile, the net assets was 150.08 billion RMB, up by 26.3% over that at the end of last year, well maintaining and increasing the value of national assets. The net profit was 23.11 billion RMB, up by 36.3% year on year, remaining a leading role among the peers. The average return of equity was 18.4% and the average return of assets 2.0%, realizing a good return for shareholders.
Nowadays, China Huarong provides financial service nationwide in 30 provinces, autonomous regions, municipalities, Hong Kong and Macao. It operates through some branches, and subsidiaries including Huarong Securities Co., LTD, China Huarong Financial Leasing Co., LTD, Huarong Xiangjiang Bank Co., LTD, Huarong International Trust Co., LTD, Huarong Futures Co., LTD, Huarong Rongde Asset Management Co., LTD, Huarong Real Estate Co., LTD, Huarong International Holding Limited, Huarong Consumption Financial Co., Ltd. and etc. Now, China Huarong has been developed as a state-owned large-scale financial assets management company featuring "the largest asset size, the strongest profitability, the best return on equity, the highest market cap, a complete range of financial licenses, and a marked brand value". With great business synergy, China Huarong provides full-licensed, multi-functional, and packaged comprehensive financial services such as non-performing assets management, asset operation and management, banking, securities, trust, leasing, investment, futures, real estate and so on.
Looking into the future, China Huarong will continue to make progress amidst stability and accomplish strategic transformation at a moderate growth rate with profit as its priority. It shall focus on its structure adjustment and speed up the transition by improving its weak fields, risk prevention and investment quality. China Huarong will also spare no efforts evolving into a first-class AMC featuring “scientific governance, systematic control, prominent key business, comprehensive operations and excellent performance” by ensuring stable growth of its market value, increasing its core competitiveness and global influences, and providing more returns for shareholders and investors.