Securities code: 603298 Securities abbreviation: Hangcha Group Announcement number: 2019-022
The board of directors of the company and all directors guarantee that the content of this announcement does not contain any false records, misleading statements or major omissions, and bear individual and joint and several liability for the authenticity, accuracy and completeness of its content.
1. Overview of financial management
Hangcha Group Co., Ltd. (hereinafter referred to as "Company" or "Hangcha Group") 2018 Annual General Meeting reviewed and passed the "Proposal on the Use of Idle Self-owned Funds for Cash Management", agreeing that the company shall manage cash at no more than RMB 1.6 billion of idle self-owned funds, and within the quota of 1.6 billion, funds can be invested in recycled and rolled. The company's independent directors and supervisory board express clear consent. At the same time, the chairman is authorized to exercise decision-making power within the limit and sign relevant contract documents or agreements and other materials, and the company's management will organize relevant departments to implement it.
As of the date of this announcement, the balance of the Company and its related subsidiaries through the purchase of trust wealth management products was RMB 1347 million, accounting for 23.94% of the company's audited total assets on December 31, 2018, and the proportion of net assets attributable to shareholders of listed companies was 34.97%. The specific situation is as follows:
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2. Description of the situation of wealth management products
1, Sichuan Trust·Tianfu Juxin No. 3 collective funds trust plan
1, Sichuan Trust·Tianfu Juxin No. 3 collective funds trust plan
1, the proportion of the underlying assets of this trust: trust beneficiary rights accounted for 59.83%; standardized products accounted for 9.67%; monetary assets accounted for 1.05%; and buy rebate assets accounted for 29.45%.
The risk control measures for this project are as follows:
This Trust funds are invested in bank deposits, reverse repurchases, money market funds, bond funds, exchanges and interbank market bonds, as well as low-risk fixed income products (including trust beneficiaries, debt or debt income rights, equity income rights of non-listed companies with additional repurchases, fixed income bank wealth management products), etc. The investment scope of this trust plan does not include: direct investment in the secondary market of stocks, QDII products and high-risk derivative products (including stock index futures, stock futures, stock index options, stock options, etc.).
As of the date of announcement, the balance of the purchase of the above products by the Company was RMB 230 million.
2, Sichuan Trust Bond Bao Collective Fund Trust Plan
The proportion of underlying assets of this trust: fixed income products account for 63.99%; interbank certificates of deposit and money market funds account for 35.56%; cash accounts for 0.01%; others (credit insurance funds) account for 0.44%.
risk control measures are as follows:
trust funds are invested in interbank and exchange market bonds (including but not limited to treasury bonds, financial bonds, central bills, corporate bonds, medium-term bonds and short-term financing bonds, etc.), bond reverse repurchase, interbank deposits, money market funds, bond funds, trust industry guarantee funds and other low-risk fixed income products (including but not limited to fixed income trust beneficiary rights, fixed income bank wealth management products, securities companies, insurance asset management companies, fund special subsidiaries and other fixed income asset management plans, fixed income products initiated by limited partnerships, etc.). The underlying assets corresponding to the above-mentioned low-risk fixed income products should be standardized financial assets.
As of the date of announcement, the balance of the purchase of the above products by the Company was RMB 200 million.
3, Zhejiang Shang Jinhui Trust·Huiye No. 334 Baoneng Ruicheng Project Collective Fund Trust Plan
This trust fund is used for the development and construction of Yizheng City Baoneng Ruicheng Plot B. Yizheng City is a county-level city under Yangzhou City, located in the central and western part of Jiangsu Province, and is the central area of Yangchengtong City in Ningzhen. The target project is located in Chengdong New District, Yizheng City, close to Yizheng Old Town, and is located on the north side of Jiefang East Road, the east side of Sanjiang Road, and the west side of Sanning Avenue. It is the core area of the eastward expansion of the city and is an integral part of the Yizheng Baoneng project. The Yizheng Baoneng project is divided into three plots A (also divided into three plots A1, A2 and A3), B and C. It will build a landmark project in Yizheng City that integrates boutique residential buildings, apartments, centralized commercial streets and shopping malls.Among them, plot A1 is a commercial street, which has been completed and merchants have settled in; plot A2 is a complex, of which 96,000 square meters are self-owned malls, which have been opened and operated; plots A3 are residential, which have been completed and delivered; plots B and C are residential, which are currently complete and complete and are under construction, and some have obtained pre-sale certificates.
risk control measures are as follows:
(1) [Equity Pledge] Ju Shenghua provides pledge guarantee for this trust plan with its legally held 285 million shares of Qianhai Life Insurance Co., Ltd.;
(2) [ Guarantee Guarantee ] Baoneng Real Estate and the actual controller Yao Zhenhua provide joint and several liability guarantee for this trust plan;
(3) [Fund Supervision and Collection] When the saleable residential area of the target project is less than 50,000 square meters, the repayment deposit must be collected from the Zhejiang Jin Trust regulatory account on a monthly basis, and the designated seal of Zhejiang Jin Trust is reserved for the supervision account, and the online banking order and review authority belongs to Zhejiang Jin Trust; the repayment deposit is only used for repayment, advance repayment or other purposes agreed by Zhejiang Jin Trust.
As of the date of announcement, the balance of the purchase of the above products by the Company was RMB 30 million.
4, Zhejiang Jin Huicheng No. 94 Shengzhou Nantou
This trust fund is used for the comprehensive construction of seven parking lots in Shengzhou . In view of the current lack of public parking lots and supporting parking lots in Shengzhou City, multiple comprehensive parking lots are planned and built. The seven parking facilities in this project are as follows:
(1) Parking lots for the settlement community on the west side of the Yanxi Primary School in Lushan Street, with a total of 1,200 parking spaces;
(2) Three-dimensional parking lot project for East Back Street, Guanhe Road, with a total of 228 parking spaces;
(3) Parking lots for the renovation of the old city (Anjili, Chong'anli) and with a total of 411 parking spaces. ;
(4) Shengzhou Middle School High School playground renovated parking lot, with a total of 1,380 parking spaces;
(5) Shengzhou Middle School playground renovated parking lot, with a total of 840 parking spaces;
(6) Ma Yin Junior Middle School playground renovated parking lot, with a total of 1,100 parking spaces;
(7) Aide Foreign Language School playground renovated parking lot, with a total of 1,650 parking spaces.
Risk control measures: Shengzhou Investment Control provides joint and several liability guarantee for this trust plan.
As of the date of announcement, the balance of the purchase of the above products by the Company was RMB 20 million.
5, Zhejiang Jin Huiye No. 306 Collective Fund Trust Plan
This trust fund will be used for the later development and construction of Shimao Nanjing G24 project. The target project is located in the plot west of Guangming Road and south of Puhong Road in Jiangpu Street, Pukou District, Nanjing. It is located in the core area of the international-level Jiangbei new urban area. The main apartment types of the project are villas and high-rise residential buildings, and are mainly for urgent needs.
risk control measures are as follows:
(1) [Mortal Guarantee] Fujian Shimao New Mileage provides the first-ranked mortgage guarantee for this trust plan with its commercial real estate located on the 20-35th floor, No. 188, Yanwu West Road, Siming District, Xiamen City, with an appraised value of 1.55 billion yuan;
(2) [Guarantee Guarantee] Shimao Construction provides joint and several liability guarantee for the payment of the repurchase price;
(3) [Difference Compensation] Shimao Real Estate's repurchase price Payment obligations provide a balance to make up for the difference;
(4) [Fund Supervision Collection] Open a bank supervision account, supervise the use of trust funds and collect repayment deposits, and repay the trust loan according to the sales progress of the target project. When the target project is sold by 40%, 60%, and 80%, the sum of the accumulated repurchase price principal and the margin balance reserved shall not be less than 20%, 40%, and 100% of the initial transfer price. 7 days/3 days/1 day before the expiration of each period of trust funds, the deposit amount shall not be less than 20%, 50%, and 100% of the principal of each period of various types of trust funds.
As of the date of announcement, the balance of the purchase of the above products by the Company was RMB 39 million.
6, Zhejiang Jin Huiye No. 242 Collective Fund Trust Plan
This trust fund is used for the Nanning Shimao International Center project. The project name is "Wuxiang Shimao Center". It is located in the first row of Pingle Avenue, the headquarters base of Wuxiang New District, Nanning City, Wuxiang New District, Nanning City. The construction is located on the east side of Pingle Avenue and the south side of Feiyun Road, adjacent to the "Guangxi Planning Hall Station" of Metro Line 3. The Nanning Shimao International Center South Plot Project consists of a commercial square, 2 5.09-meter-high LOFT apartments, and 1 tower of about 160 meters.
risk control measures are as follows:
(1) [Pledge Guarantee] Shimao provides pledge guarantee for the final payment of the house that should be receivable, and the dynamic pledge rate does not exceed 70%. The pledged underlying assets are the final payment for the purchase of the house on the "Chengdu World Trade City Phase III" project, with a total value of approximately 750 million yuan. The pledged accounts receivable are registered with . The People's Bank of China Credit Information Center .
(2) [Guarantee Guarantee] Shanghai Shimao Construction Co., Ltd. (credit rating AAA) provides joint and several liability guarantee for the payment of the repurchase price.
(3) [Difference Compensation] Shimao Real Estate Holdings Co., Ltd. (credit rating AAA) provides a difference compensation for the payment obligation of the repurchase price.
(4) [Fund Supervision] Open a fund supervision account and pay the transfer price of the project income right to the supervision account. Zhejiang Jin Trust supervises the use of funds in the account, and opens a bank account in the name of a trust company to collect the recycling of pledged accounts receivable.
As of the date of announcement, the balance of the purchase of the above products by the Company was RMB 20 million.
7, Minsheng Trust·Huixin No. 5 Collective Fund Trust Plan
China Minsheng Trust·Huixin No. 5 Collective Fund Trust Plan was established on September 15, 2017, with an initial scale of 125 million yuan, and its investment scope: (1) Inter-financial deposits; (2) Short-term fixed-interest bonds with a term of less than 3 years, including listed and circulated short-term treasury bonds, financial bonds, corporate bonds, central bank notes, commercial bank subprime bonds and corporate short-term financing bonds, etc.; (3) Listed and circulated floating-interest bonds; (4) Reverse repurchase of bonds within 9 months; (5) Money market funds; (6) Bank time deposits, agreement deposits or large-denomination certificates of deposit with a term of 36 months; (7) Asset-backed securities with a remaining term of 3 years; (8) Financial products listed on the interbank market, banking and banking center, and stock exchanges and have a remaining term of 3 years; (9) Financial products with investment targets that are private placement of shares in A-shares and have a remaining term of 3 years; (10) Other short-term financial instruments with good liquidity allowed by laws, regulations and regulatory authorities. By March 31, 2019, the scale of expiration was 2426.5 million yuan; of which bank deposits accounted for 0.18%; trading financial assets accounted for 7.68%: available-for-sale financial assets accounted for 89.41%; other assets accounted for 2.83%; the principal subscribed 1173.87 million copies and redeemed 775.27 million copies.
risk control measures are as follows:
(1) shall not invest in warrants, stocks, securities investment funds (excluding money funds) issued by listed companies;
(2) shall not invest in secondary sub-products of various financial products (including but not limited to tiered funds, asset-backed securities, etc.);
(3) shall not invest in investment products with greater risks such as stock/bond repurchase financing transactions, bond repurchase, ETF arbitrage, margin trading, etc.;
(4) shall not invest in The trading product of on the China Financial Futures Exchange;
(5) shall not invest in new bond subscription, nor shall it invest in securities issued in primary markets such as public additional issuance and targeted additional issuance of stocks; the investment in new stock subscription shall be agreed separately by the trustee and the principal according to the market conditions, but this trust shall not participate in offline new stock subscription;
(6) shall not invest in bonds with the subject rating of the bond issuer below AA, or the bond issuer has lost in the past year;
(7) In principle, the asset scale of interbank deposit banks Not less than 300 billion;
(8) shall not use the managed assets for investments that may make this trust bear unlimited liability, such as lending, mortgage financing or external guarantees;
(9) shall not invest in securities issued by the trustee's affiliated parties (including but not limited to 000416 Minsheng Holdings, 000046 Panhai Holdings, etc.);
(10) shall not invest in investment products that have redemption closed period or the expiration date of the restricted period exceeds 10 working days before the expiration date of the trust's expiration date;
(11) shall not apply to the The same securities are traded with similar prices and opposite directions;
(12) shall not use insider information to invest;
(13) shall not use capital advantages, shareholding advantages or information advantages alone or in conspiracy to use joint or continuous trading, manipulate securities trading prices or other ways to manipulate securities trading prices;
(14) shall not collude with others to trade at a time, price and method agreed in advance;
(15) shall not make other investments prohibited by relevant laws, regulations and trust documents.
As of the date of announcement, the balance of the purchase of the above products by the Company was RMB 30 million.
8, Minsheng Trust·Zhongmin Yongtai No. 1 Collective Fund Trust Plan
"China Minsheng Trust? Zhongmin Yongtai No. 1 Collective Fund Trust Plan" was established on November 21, 2017, with an initial scale of 121.7 million yuan. Investment scope: (1) Money market financial instruments, including but not limited to: bank deposits (including interbank certificates of deposit, agreement deposits), money market funds (including on-site or off-market money market funds), bond repurchase (on-direct investment in trust plans is limited to bond reverse repurchase), financial products that mature within one month, etc. (2) Standardized fixed income products, including but not limited to: treasury bonds listed on exchanges/interbanks, various financial bonds (including policy financial bonds), corporate bonds, corporate bonds (including public and non-public), project income bonds, special bonds, convertible/exchangeable bonds, central bank notes, medium-term notes, short-term financing bonds (including ultra-short-term financing bonds), non-public targeted debt financing instruments (PPN), securitization products (including asset-backed notes, special-backed securities, asset-backed securities, etc.). (3) Other investment products licensed by laws and regulations and regulatory agencies, including but not limited to: 1) Financial products such as public funds, asset management plans, trust plans, etc. that are issued by financial institutions such as fund companies, fund management company subsidiaries, securities companies, trust companies, etc., with money market tools and standardized fixed income products as the main investment directions; 2) Financial products listed on trading platforms issued by financial institutions such as fund companies, fund management company subsidiaries, securities companies, trust companies, etc. (including asset management plans, trust plans, private ABS listed on trading platforms such as banking credit asset registration and circulation centers, stock exchange asset management plan share transfer platform, etc.). As of March 31, 2019, the scale of existence was 8525 million yuan. Among them, bank deposits accounted for 0.91%; available-for-sale financial assets accounted for 97.05%; other assets accounted for 2.08%; in the first quarter of 2019, the principals subscribed a total of 888.71 million copies and redeemed a total of 911.41 million copies.
risk control measures are as follows:
(1) The allocation ratio range of liquid assets is 0 to 100% of the total scale of the trust plan; among them,
"total scale of the trust plan" refers to [the total number of shares of the existing trust units at that time × 1 yuan], and the following has the same meaning.
(2) Invest in financial assets listed on the stock exchange and have a remaining term of less than 7 years. The total investment amount calculated by
according to the investment cost accounts for 0 to 100% of the total scale of the trust plan.
(3) Invest in asset-backed securities with a remaining term of less than 5 years. The total investment amount calculated based on investment costs accounts for 0 to 100% of the total scale of the trust plan.
(4) The funds invested by this trust in other fixed-income securities listed on domestic interbank markets and stock exchanges account for 0 to 100% of the total trust property.
(5) Investment products invested in the issuance or management of the trustee's affiliated parties shall comply with the provisions of laws and regulations.
As of the date of announcement, the balance of the purchase of the above products by the Company was RMB 240 million.
9. AVIC Trust? Tianqi [2018] No. 273 Jinan Evergrande Oasis Loan Collective Fund Trust Plan
This trust funds issue trust loans to Jinan Evergrande Oasis Real Estate Co., Ltd. in the form of trust loans, and all funds are used for the construction of Jinan Evergrande Oasis Plot D project. The borrower Jinan Evergrande Oasis Real Estate Co., Ltd. was established on January 18, 2010 with a registered capital of 870 million yuan. It was established by Evergrande Real Estate Group Co., Ltd. The land D of the sixth phase project of Evergrande Oasis obtained a land certificate on November 29, 2010, with a total of 7 buildings. The 40#, 42-43# in the early stage have been sold out and delivered. The funds used for this time are 38#, 39#, and 41 of the sixth phase of the project. Building # and 44# will complete sales within three years, and the estimated sales revenue will be 1.768 billion yuan, which meets the requirements of Evergrande Group's high turnover of . The four certificates are complete. The total investment of Evergrande Oasis Phase 6 project is 869 million yuan. The financiers have provided the total transaction certificates of this project, including land transfer fees, tax payment certificates, and construction costs, which are approximately 261 million yuan, accounting for 30.02% of the total investment, which meets 30% of the compliance requirements. Jinan Evergrande Oasis Plot D Project ① Geographical Location: Located in, this area belongs to the core main urban area of Jinan western, close to the university town, and the project has a superior geographical location. ②Total project investment: The total investment in the entire project is 869 million. ③The project has met all compliance requirements for "Four, Three, Two". The total land area of Jinan Evergrande Oasis project is 8634 mu, with a total construction area of 193,900 square meters and a saleable area of 189,600 square meters. All projects are finely decorated, with a conservative pre-sale price of 10,300/ square meters, and the expected sales revenue of 1.768 billion is lower.
risk control measures are as follows:
(1) Group guarantee
parent company Evergrande Real Estate Group Co., Ltd. provides legal person guarantee guarantee;
(2) Equity pledge
Jinan Evergrande Oasis Real Estate Co., Ltd. 100% equity pledge
(3) Land mortgage
Weihai City Hengrong Real Estate Co., Ltd. provides the first-ranked mortgage guarantee for four transfer lands it holds in Shidao Management District, Weihai Rongcheng City. The assessed land value of the land is 491 million yuan, the trust loan does not exceed 240 million yuan, and the initial mortgage rate is 48.88%;
As of the date of announcement, the balance of the company's purchase of the above products was RMB 30 million.
10, AVIC Trust? Tianqi [2018] No. 558 Urban Construction Holdings Trust Loan Collective Fund Trust Plan
This trust fund is used to issue trust loans to Lianyungang City Urban Construction Holdings Group Co., Ltd. to supplement the company's working capital. Borrower: The registered (received) capital is RMB 5 billion, Lianyungang State-owned Assets Supervision and Administration Commission has 100% controlled shares, and the entity's credit rating is AA+. The company's main business segments are municipal road construction, land consolidation and development, etc. The borrower uses the income from operating the business as the source of repayment. According to the annual report information, the borrower's total assets in 2018 were 76.012 billion yuan, 67.455 billion yuan in 2017, a year-on-year increase of 12.68%; the liabilities were 50.189 billion yuan, 46.289 billion yuan in 2017, a year-on-year increase of 8.43%; the debt-to-asset ratio was 66%, 68.62% in 2017, a slight decrease; the operating income was 5.059 billion yuan, 4.02 billion yuan in 2017, a year-on-year increase of 25.85%; the net profit was 644 million yuan, 640 million yuan in 2017, a year-on-year increase of 6.25%.The borrower Lianyungang Urban Construction Holding Group Co., Ltd. is the largest state-owned asset management company in Lianyungang City. The local government has strong support, ensuring the profitability of the main business sectors, and the company's operating conditions are good. At the same time, the guarantor Lianyungang Municipal Public Utilities Co., Ltd. is also 100% controlled by Lianyungang State-owned Assets Supervision and Administration Commission. It has a registered (received) capital of RMB 2 billion and a subject rating of AA+. It is the main body of municipal infrastructure construction in the main urban area of Lianyungang City. It undertakes the task of building a large number of transportation infrastructure in the urban area and is highly supported by policies. According to the annual report information, the guarantor's total assets in 2018 were 42.471 billion yuan, liabilities were 25.734 billion yuan, and the debt-to-asset ratio was 60.59%. The asset-to-liability structure was at a reasonable level, with operating income of 2.696 billion yuan, net profit of 324 million yuan, and the cash balance at the end of the period of 2018 was 852 million yuan. The company has excellent reputation and is expected to have a small risk of debt repayment default.
risk control measures are as follows:
(1) Lianyungang Municipal Public Utilities Co., Ltd. provides unlimited joint and several liability guarantee
(2) Lianyungang Construction Construction Group provides a piece of urban residential land (071) located in the west (No. 15) plot of Shengshi Road, Qingkou Salt Field Planning, Lianyungang Development Zone for mortgage. The land registered area is 126,370.5 square meters, the assessed value of the mortgaged property is 505.48 million yuan, and the mortgage rate is 39.57%.
As of the date of announcement, the balance of the purchase of the above products by the Company was RMB 30 million.
11, AVIC Trust? Tianqi No. 556 Tiancheng Jufu Investment Fund Collective Fund Trust Plan
This trust project is invested in bank deposits, interbank lending, bond reverse repurchase, money market funds, bond funds, exchanges and interbank market bonds and other products. This trust plan shall not directly invest in stock secondary markets, QDII products and high-risk financial derivative products (including but not limited to stock index futures, stock futures, stock index options, stock options, etc.); it shall not invest in projects that do not comply with national industrial policies, investment policies and macro-control policies. By April 30, 2019, the scale of this trust project will be RMB 173.48.48 million, operating income (including tax) of RMB 91.1653 million, operating expenses of RMB 4.5664 million, and allocated trust interests (including principal) of RMB 1608.3424 million. The project is currently operating stably. Our company will continue to strictly follow the provisions of trust laws, regulations and trust documents, and strive to maximize the interests of beneficiaries.
risk control measures are as follows:
trustees will carefully select the trading subject of the trust plan, the custodian of the trust plan property, securities brokerage institutions and other relevant financial service institutions; on the other hand, the trustees will promptly urge all parties to fulfill their corresponding obligations in accordance with relevant agreements to control the occurrence of credit risks. Once other risks occur or may occur, the trustee will take corresponding measures according to the specific circumstances to control investment risks, ensure the safety of funds, and maximize returns.
As of the date of announcement, the balance of the purchase of the above products by the Company was RMB 190 million.
12, Zhongrong-Fortune No. 1 Structured Collective Fund Trust Plan
In order to make full use of the trustee's professional advantages in asset management, participate in the country's economic structure adjustment and people's livelihood project construction through market-oriented methods, share the results of rapid economic growth, and obtain sustainable and stable returns. The trustee uses trust funds to invest in debt, equity and other portfolios in high-quality enterprises that meet the established investment standards, and realize profit exit through the invested enterprises repaying the principal and interest of loans, distributing profits, reducing capital, and selling trust property of the trustee, so that the principal can share the results of China's rapid economic growth; the investment scope of this trust plan includes but is not limited to people's livelihood projects, low-carbon economy, mineral energy, urban-rural coordinated construction and other projects that comply with national industrial policies; during idle periods, it can also be used for interbank bonds, notes and credit asset transfers, and other low-risk, stable returns and controllable risks.
risk control measures are as follows:
(1) This trust plan is equipped with a structured design, and the ratio of trust funds between the priority principal and the secondary principal shall not be higher than 9:1;
(2) When investing in a specific project, strictly control the amount of funds used according to the actual situation of the project, and set up strict risk control measures that meet regulatory requirements for each project separately; conduct in-depth due diligence on the project to be invested, and continuously supervise the operation of the invested project, establish a firewall system to achieve effective isolation of risks between each investment project;
(3) In principle, debt investment should have sufficient mortgage or pledge guarantee or other guarantee measures. If the guarantee method of debt investment is mortgage or pledge guarantee, the mortgage or pledge rate shall not exceed 50%.
As of the date of announcement, the balance of the purchase of the above products by the Company was RMB 50 million.
13, Zhongrong-Hengrong No. 19 Collective Fund Trust Plan
This trust fund is used for the China Fortune Land Development Jiashan Project (Jiashan High-speed Railway New City), and acquire and recycle the accounts receivable claims held by Jiaxing Dingtai Park Construction Development Co., Ltd. in the People's Government of Jiashan County, and make investments stipulated in the trust documents. It was launched in 2013. Document No. 39 of Zhejiang Finance (2016) listed it as the third batch of PPP projects in Zhejiang Province. The cooperation period is 18 years and the total investment is 8 billion yuan. As of September 2018, the cumulative investment has been made of approximately 6.1 billion yuan, focusing on building four major industrial clusters of science and technology research and development, film and television media, commercial services, and software information. 194 companies have signed contracts and signed investment amounts of 19.5 billion yuan. In the future, Jiashan High-speed Railway New City will further build an "Internet +" industrial cluster with e-commerce as the core; in addition, the industry-university-research platform will be used as leverage to leverage the transformation of scientific and technological achievements, form a development pattern with the high-speed railway new city as the headquarters R&D core, linking other sections of the county, and making every effort to build an intelligent manufacturing demonstration zone; use Xinxitang Water Street as the cross-border carrier to develop a comprehensive fashion and cultural and creative industry cluster.
Jiaxing Dingtai Park Construction Co., Ltd.: It was registered and established on July 12, 2013 with a registered capital of 667 million yuan. It mainly operates the Jiashan County PPP project in Jiaxing. As of September 2018, the company had a total assets of 6.51 billion yuan, total liabilities of 4.13 billion yuan, owner's equity of 2.37 billion yuan, and net profit of 1.56 billion yuan. The debt-to-asset ratio has been relatively stable in the past three years, maintaining within 70%, and its revenue and profit have both steadily increased in recent years. Jiaxing Dingtai Park Construction Co., Ltd. is 100% controlled by China Fortune Land Development Co., Ltd. through its wholly-owned subsidiary Jiutong Co., Ltd.
risk control measures are as follows:
(1) The trust plan acquires and holds the project accounts receivable at 30% off and handles the transfer registration
(2) China Fortune Land Development Co., Ltd. provides joint and several liability guarantee and announces Jiaxing Dingtai Company's accounts receivable repurchase obligations.
As of the date of announcement, the balance of the purchase of the above products by the Company was RMB 40 million.
14, Zhongrong-Hengxin No. 1 Collective Fund Trust Plan
The trust funds under this trust plan are collectively managed and used and punished in their own name in the following manner:
The trust funds under this trust plan are mainly invested in financial instruments or products recognized by regulatory agencies, including:
(1) OTC bonds, including treasury bonds, financial bonds, corporate bonds, corporate bonds, short-term financing bonds , medium-term notes, central bank notes, etc.;
(2) debt rights, equity, income rights, debt plus equity, subscription of limited partnership shares, transfer of limited partnership shares, etc.;
(3) low-risk and high-liquid financial products such as bank deposits, large-scale transferable certificates of deposit, money market funds, bond funds, fixed-income bank wealth management products;
(4) investment products or trust beneficiary rights, bond asset management plans and other investment products.
In addition to directly investing in the above-mentioned targets, you can indirectly invest in the above-mentioned targets through subscription of securities company asset management plans, fund companies and fund subsidiaries asset management plans, trust plans, contract funds, etc.
risk control measures are as follows:
This trust plan promptly discovers possible risk conditions during operation through regular and irregular risk monitoring and risk warning mechanisms, and takes corresponding risk avoidance measures to ensure that the trust plan is legal, compliant, safe and normal operation.
As of the date of announcement, the balance of the purchase of the above products by the Company was RMB 40 million.
15, Zhongrong-Jirui No. 4 Collective Fund Trust Plan
This trust fund is used to issue trust loans to Qingdao Jiaozhou Urban Development Investment Co., Ltd., and is used to build the Qingdao Bay Bridge Jiaozhou Connection Line Project. The Qingdao Bay Bridge Jiaozhou Connection Line Project is located in Qingdao City Jiaozhou Bay. It starts and connects Binhai Road, Jiaozhou Industrial Base, and ends and reaches Qingdao Bay Bridge. The total length of the connecting line project is 2.8 kilometers and the total length of the interchange ramp is 2.8 kilometers. In December 2010, the Qingdao Municipal Development and Reform Commission issued the "Approval on the Feasibility Study Report of the Qingdao Bay Bridge Jiaozhou Connecting Line Project" (Qingdao Development and Reform Energy Exchange No. 688), and the main project construction body was Qingdao Transportation Development and Investment Center; in September 2016, the Qingdao Municipal Development and Reform Commission issued the "Reply on Agreeing to Change the Main Project Construction of the Qingdao Bay Bridge Jiaozhou Connecting Line Project" (Qingdao Development and Reform Energy Exchange No. 86), which clearly agreed to change the construction unit of the Qingdao Bay Bridge Jiaozhou Connecting Line Project from "Qingdao Transportation Development and Investment Center" to "Qingdao Jiaozhou Urban Development Investment Co., Ltd.". The approval document stipulates that the total investment of the project is 871 million yuan, of which the construction cost is about 850 million yuan, and the construction unit is responsible for investment and organization of implementation; the compensation for land acquisition, sea acquisition, demolition and sea use are about 21 million yuan, and the Jiaozhou Municipal Government is responsible for raising and organizing implementation. The project started construction in March 2017 and is expected to be completed and opened to traffic in 2020. The project is an operating highway with a toll period of 25 years. It is estimated that the project can obtain a total of 2.64 billion yuan in toll revenue during the toll period and an annual revenue of 110 million yuan during the toll period.
risk control measures are as follows:
(1) The 1.5 billion yuan receivable to the Jiaozhou Municipal Government held by the financier and the financier city dilapidated housing renovation project was pledged to the trust plan, with a pledge rate of 46.67%;
(2) Qingdao Jiaozhou Bay Development Group Co., Ltd. (credit rating AA+, joint credit) provides joint and several liability guarantee obligations for the financier Jiaozhou Urban Investment to repay principal and interest.
As of the date of announcement, the balance of the purchase of the above products by the Company was RMB 50 million.
16, Zhongrong-Rongzhu No. 223 Collective Fund Trust Plan
This trust fund is used to acquire 100% equity income rights of the project company Chongqing Lidong Ronghe Real Estate Development Co., Ltd. and Chongqing Dongbo Zhihe Real Estate Development Co., Ltd. The project plot is located in the Shuangbei Group Well Shuangbei Section, District 4, Shapingba, Chongqing. It is an important core section for Shapingba expansion north. It is across the river from Dazhulin in the east, connected to Xiyong through the Shuangbei Tunnel to the west, and is close to Shapingba Old Town to the south. The project is fully equipped with high-quality educational resources such as Jingkou Primary School, Chongqing No. 3 Middle School , Chongqing 64 Middle School, Shuangbei Primary School, Chongqing 32 Middle School, and Chongqing 32 Middle School. It is 6-9 kilometers away from the Ciqikou Ancient Town Business District and the Three Gorges Square Business District. It is also equipped with Jingkou Hospital and Jialing Hospital. The transportation is convenient, and the Railway Line 1 has been opened to traffic, and the Railway No. 13 and 15 have been planned and constructed. The
project has two blocks: the total construction area of Project 1 is 93,000 square meters, designed as 5 18-story small high-rise buildings, with a total of 616 households; the total construction area of Project 2 is 217,000 square meters, with a total of 2 18-story small high-rise buildings, 4 33-story high-rise buildings, 1 6-story villas, and 14 8-story villas, with a total of 1,430 households. The overall development cost of the entire project is approximately 2.153 billion yuan, and pre-sale is expected to be carried out in the third quarter of 2019. Referring to the pricing of surrounding projects, the project is expected to be 2.973 billion yuan in total, and sales revenue can be generated within the trust term.
risk control measures are as follows:
(1) Product Structured Design
project is structured according to a 1:1 priority and secondary ratio. The one raised in this period is priority, and the secondary is subscribed by subsidiaries of Sunac Real Estate and Dongyuan Real Estate.
(2) Land mortgage
Chongqing Shapingba District Shuangbei Group C Standard Division Parcel No. C10-2/04, C10-1-1/05 and C10-1-2/04, land transfer price totaled 1.088 billion yuan, and the comprehensive mortgage rate was 59.74%.
(3) Guarantee guarantee and liquidity supplement
Sunac Real Estate Group Co., Ltd. and Dongyuan Real Estate Development Group Co., Ltd. each assume joint and several liability guarantee for debts, and at the same time promise to provide liquidity supplement for project development and construction.
(4) Acquisition of equity income rights of the project company
Trust funds are used to acquire 100% equity income rights of the project company Chongqing Lidong Ronghe Real Estate Development Co., Ltd. and Chongqing Dongbo Zhihe Real Estate Development Co., Ltd.
As of the date of announcement, the balance of the purchase of the above products by the Company was RMB 50 million.
17, Zhongrong-Huijujin No. 1 Money Fund Collective Fund Trust Plan
This trust fund makes full use of the professional advantages of the trustee and financial interbank resources, and invests the trust plan funds in bank deposits, money market funds, bond funds, exchanges and interbank market bonds, as well as fixed income products (including but not limited to reverse repurchases with a term of less than 1 year and other fixed income products recognized by the principal), as well as other purposes agreed in the "Trust Contract" to obtain investment returns.
risk control measures are as follows:
(1) The trustee should closely monitor and track national legal policies and macroeconomic conditions, make corresponding judgments on future policies and market trends, and disclose them to the beneficiaries in a timely manner when risks such as the inability to achieve the purpose of the trust due to changes in legal policies;
(2) The trustee judges economic trends, grasps industrial trends, controls interest rate risks based on changes in national economic and financial policies they have mastered, and takes security as the primary principle to operate prudently and effectively, and strive to avoid various market risks. At the same time, the trust plan should invest funds in multiple investment products to diversify the risks that may arise due to excessive concentration of investment;
(3) The trustee will carefully select the counterparty to reduce the risk that the investment products due to counterparty default or other reasons cannot be paid in full and timely due to counterparty breach of contract, thereby causing losses to trust property;
(4) The trustee will adhere to the principle of maximizing the interests of the principal, strictly fulfill its obligations, and strive to prevent and resolve possible risks such as network or system failures. At the same time, the trustee will strengthen internal liquidity management, invest part of the funds in investment products with strong liquidity such as money funds and demand deposits, and strictly review the trust interests of customized X-type trust units that should be allocated every day, and prepare the funds that should be allocated in a timely manner;
(5) The trustee should strengthen internal management, perform his duties, strengthen information collection and scientific analysis, strictly implement the internal risk management system of the trustee, and strive to reduce the losses of trust property due to improper management of the trustee;
(6) Countermeasures for the custodian's risk. The custodian is a commercial bank carefully selected by the trustee, with good operating conditions and credit status, and stipulates its breach of contract liability in the "Currency Agreement" signed with the "Currency Agreement" signed by it for possible default risks;
(7) Countermeasures for other risks. The trustee should adhere to the principle of maximizing the interests of the beneficiaries, strictly fulfill his obligations, constantly analyze potential risks, strive to prevent and resolve possible risks, and safeguard the trust interests of the principal and beneficiaries.
Liquidity Support The trustee subscribes to customized X-type trust units at any time with its own funds of 1 billion yuan, providing liquidity support to the beneficiaries of the trust plan.
As of the date of announcement, the balance of the purchase of the above products by the Company was RMB 50 million.
18, Xinyi Huiyun No. 2 B
This trust product investment direction is to purchase Huabei debt.The specific situation is as follows:
(1) Huabei credit payment assets that are truly, legally and effectively owned by the asset transferor, and there is no mortgage right, pledge right or other valid rights claims of any third party on the asset;
(2) The loan principal balance of the single borrower of the asset under the trust plan (including the loan principal balance of the "target credit asset" under the "target credit asset" is Within) the total amount shall not exceed RMB 200,000;
(3) According to the five-level loan classification standards formulated by the People's Bank of China, the loan assets are classified as normal;
(4) The borrower of the credit asset has the right to check the borrower's loan information through Alibaba Group and Ant Financial Group. There are no unperforming loan records and other defaults in history. There are no serious overdue or other serious defaults (i.e., overdue for more than 90 days);
(5) At the time when the subject credit asset enters the asset pool, the corresponding repayment date of the subject credit asset is no later than the date of the expected expiration of the trust plan, that is, no later than the date of expiration of the 6th month from the date of establishment of the trust plan;
(6) The current balance of the normal loan principal of the end of the period of this product is RMB 206,748,180.96, accounting for 52.21% of the total invested capital, and the cash balance of the product's end-of-period account is RMB 189,340,203.96, accounting for 47.81% of the total invested capital. The loan principal balance of a single borrower in the asset pool does not exceed 200,000, and the risk of the entire asset pool is controllable and operates well.
risk control measures are as follows:
excess interest rate coverage: During the transfer of credit assets in this plan, a higher discount rate was used for asset transfer (5% interest-free assets, 15% interest-generating assets), and there was an excess interest rate spread.
Unqualified Asset Redemption: If the trustee finds unqualified credit assets, he shall notify the qualified transferor to correct the problem within a time limit or redeem or replace the unqualified credit assets within a time limit.
accelerated repayment event: (1) During the period of the trust unit in a certain period, the amount of funds in the regulatory account exceeds 20% of the outstanding principal balance of the credit assets in the asset pool on the day for 30 consecutive working days; (2) The non-performing rate of the credit assets for the target for 5 consecutive working days during the period of the trust unit in a certain period exceeds 5%.
Non-cash asset disposal: When the trust plan expires, the trust property still contains non-cash assets, and the trustee has the right to dispose of the non-cash assets at that time, but it should meet the following conditions at the same time: (1) The disposal consideration shall be deemed to be equal to the purchase consideration for the purchase of the asset obtained by the transferee on the date of completion of the asset in accordance with the asset discount rate and transfer consideration calculation formula agreed in the "Trust Contract"; and (2) Under the same conditions, Chongqing Ant Small and Micro Small Loan Co., Ltd. and Chongqing Shangcheng Small Loan Co., Ltd. or any third party designated by them shall have priority refusal for non-cash assets.
As of the date of announcement, the balance of the purchase of the above products by the company was RMB 8 million.
III. Risk warnings and risk control measures
In the process of managing, using or disposing of trust property, the trust plan trust plan trust plan has but is not limited to the following risks: borrower's credit risk, risk of misappropriation of trust funds, risk of pledged property realization, management risks, redemption risks, risk of loss caused by quarterly interest settlement funds, risk of interest rate change, policy and legal risks. In addition to the risks disclosed above, the trust does not exclude industry risks, risk of due diligence, risk of early expiration or extension of trust, risk of early repayment of borrowers, credit risks of secondary beneficiaries and their designated cooperative entities, operational risks, operational risks, and other risks that affect trust property due to political, economic, natural disasters and other forces majeure.
Therefore, the relevant trust and financial products purchased by the Company are non-guaranteed and there is a risk of partial or complete loss of principal. Investors are advised to pay attention to investment risks.
Although there are the above risks, the other party to the company's agreement to purchase investment products is a trust company or a securities company, and the other party has its own internal control procedures and risk control measures; the company has conducted necessary due diligence on the basic situation, credit rating and performance capabilities of the issuer of the above investment products.At the same time, the company will closely track and analyze the progress of each financial product, pay attention to macroeconomic situation and market changes, and take timely corresponding measures to control investment risks, ensure the safety of funds, and maximize returns. As of the date of announcement, based on the tracking information feedback between the company and the above trustees, the above products are currently operating normally and there are no risk matters that should be disclosed but not disclosed. The company will maintain close communication with the above trustees and disclose relevant information in a timely manner. Investors are advised to pay attention to the company's announcements and pay attention to investment risks.
is hereby announced.
Hangcha Group Co., Ltd.
Board of Directors
May 21, 2019
