Picture source: Visual China
On October 11, the official website of the China Banking Regulatory Commission issued an announcement stating that it approved the transfer of its 34.81 million yuan in equity in Everbright Xinglong Trust Co., Ltd. (hereinafter referred to as Everbright Trust) to the name of Gansu Financial Holding Group Co., Ltd. (hereinafter referred to as Gansu Financial Holding Group).
Everbright Trust's 2017 annual report shows that as of the end of 2017, Everbright Trust had a total of 4 shareholders, namely China Everbright Group Co., Ltd., Gansu State-owned Assets Investment Group Co., Ltd., Tianshui Municipal Finance Bureau, and Baiyin Municipal Finance Bureau, with shareholding ratios of 51.00%, 43.98%, 4.00%, and 1.02%, respectively.
public information shows that Gansu Financial Holding Group was registered and established in April 2016. It is an state-owned holding company funded by the Gansu Provincial People's Government, and authorized Gansu Financial Holding Group to be the investment, operation and management company of the provincial government's state-owned financial capital. It is the investment, financing and management center of Gansu Provincial State-owned Financial Capital. At present, it has developed into a large local financial holding group integrating securities, futures, insurance, funds, financing guarantee, asset management, and equity transactions, and has diversified, all-round and long-chain development.
currently has one wholly-owned enterprise, Gansu Financial Holding Fund Management Co., Ltd., with 9 holdings, namely Hualong Securities Co., Ltd. , Gansu Equity Trading Center Co., Ltd., Gansu Strategic Emerging Industry Investment Management Co., Ltd., Dunhuang Life Insurance Co., Ltd. (Preparation), Hualong Futures Co., Ltd., Jincheng Capital Management Co., Ltd., Huashang Fund Management Co., Ltd. , Gansu Re-guarantee Group Co., Ltd., and Gansu Financial Holding Financing Guarantee Group Co., Ltd., and 3 participating enterprises.
Everbright Trust is a financial institution established by China Everbright Group Co., Ltd. (hereinafter referred to as China Everbright Group) in 2014 with the approval of the China Banking Regulatory Commission. It is currently one of the four core subsidiaries in China Everbright Group's financial sector that are ranked alongside banks, securities and insurance. As of the end of 2017, the scale of trust assets managed by Everbright Trust was 478.459 billion yuan. Interbank market data shows that in the first half of 2018, Everbright Trust achieved a net profit of 503 million yuan, an increase of 105.8% year-on-year from 244 million yuan in the same period in 2017.
Daily Economic News
