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Public company info - China Cinda Asset Management Co. Ltd. - H Shares , 01359.HK

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China Cinda Asset Management Co. Ltd. - H Shares, 01359.HK - Company Profile
Chairman ZHANG Zi’ai
Share Issued (share) 13,568,000,000
Par Currency Renminbi
Par Value 1.0
Industry Investments & Assets Management
Corporate Profile Business Summary: The principal activities of the Group comprise acquiring and entrusting to manage, invest and dispose of both financial and nonfinancial institution distressed assets; receivership; foreign investment; securities and futures dealing; financial bond issuance; inter-bank borrowing and lending; commercial financing for other financial institutions; approved asset securitization business; financial institutions custody; closing and liquidation of business; consulting and advisory business on finance, investment, legal and risk management; asset and project evaluation; banking business; insurance; fund management; asset management; trust; financial leasing services; real estate and industrial investments and other businesses approved by the CBIRC or other regulatory bodies. Performance for the year: In 2019, the Group recorded a net profit attributable to equity holders of the Company of RMB13.05 billion, representing an increase of 8.4% over the previous year; the return on average shareholders’ equity of the Group was 8.56%. Business Review Distressed Asset Management The distressed asset management business of the Group includes (1) management and disposal of distressed debt assets acquired from financial institutions and non-financial enterprises; (2) investment, management and disposal of DES Assets; (3) conducting the distressed asset management business in a comprehensive way, such as restructuring of distressed entities and distressed assets, special situation investment; and (4) entrusted operation business. Distressed asset management is the main business and the primary source of income and profit of the Group. In 2018 and 2019, the income from the distressed asset management business accounted for 73.6% and 70.2% of the total income of the Group, respectively, and the profit before tax from the distressed asset management business accounted for 99.0% and 78.0% of the profit before tax of the Group, respectively. Financial Services Business According to the strategic plan, the Group has focused on the development of financial services business that can provide services and support to the development of distressed assets business. A diversified and synergistic financial services platform has been established covering banking, securities, futures, public funds, trusts, leasing and insurance business. The Group is committed to providing customized financial services and comprehensive solutions to customers. In 2018 and 2019, income from financial services represented 27.5% and 31.3% of the total income of the Group, respectively, while the profit before tax from financial services accounted for 2.0% and 23.7% of the total profit before tax of the Group, respectively. Information Technology In 2019, the Company continued to promote the implementation of the Informationization Planning (2016 to 2020), with the informationization construction entering the phase of optimization and upgrading. In order to adapt to changes in the internal and external environment, the Company launched the revision of Informationization Planning, and made it clear that the informationization construction from 2020 to 2021 would be focused on system integration, data governance and IT management & control of the Group, so that the IT governance framework was improved. The Company also continuously improved information technology systems and passed ISO27001/20000 internal audit and external audit on management system. Construction of Information Systems In 2019, the Company achieved remarkable results in the construction of information systems, with the system of financial sharing center, the contract management system and the management system for the Group’s customer relationship completed; The group continuously improved the Group’s data warehouse, built up the Group’s big data platform and completed the optimization and upgrade of management accounting system and risk management system; The group also consolidated and improved the basic operation and maintenance of information systems, with the system availability reaching more than 99.8% and the ability to support business operation and group management significantly improved. Prospects: 2020 will see a more complex and severe external environment in which the sources of turbulence and risks around the globe will increase markedly. The world economic growth is expected to keep slowing down. China is in a critical period of shifting its development mode, optimizing its economic structure and transforming its growth momentum. Structural, institutional and cyclical issues are intertwined, and the economy is under greater downward pressure. In particular, the COVID-19 has caused a significant impact on the short-term economy, and its impact on global demands and supply chains continues unabated, which may reshape the development of the industry, the assets allocation, and even profoundly change the governance systems of global economy. In order to mitigate the impact of the epidemic on the economy, the Party Central Committee and the State Council have taken various measures to ensure the smooth operation of the economy. In general, the epidemic will not change the long-term growth trend of the Chinese economy. The Chinese government will continue to unswervingly implement the new development philosophy, make sustained efforts to deepen supply-side structural reform, promote high-quality development of economy, resolutely fight three critical battles, comprehensively maintain stable growth, advance reform, make structural adjustments, improve living standards, guard against risks, ensure stability, keep major economic indicators within an appropriate range, and ensure the accomplishment of building a moderately prosperous society in all respects and the 13th Five-Year Plan. Influenced by such external factors as the slowdown of economic growth, the accelerated reform of economic system, the continuation of strict supervision and the COVID-19 epidemic, various risks such as credit risk, market risk and liquidity risk remain prominent and are apt to overlay and spread. The risk situation remains severe. Non-performing loans of commercial banks will continue to grow; distressed assets in trust, leasing and other non-banking financial industries will increase significantly; and risks with respect to small and medium-sized financial institutions will continue to be exposed. The bond market, stock market, asset management market and other financial markets are exposed to risks in a faster pace. The amount of accounts receivable from corporations and entities will continue to increase, and the collection period will be lengthened. Disposal demands from distressed entities and distressed assets will increase. The Company will give full play to countercyclical regulation tools and financial assistance functions, actively respond to opportunities and challenges, and achieve sustainable and healthy development. The Company will continue to fully enforce the principles of 19th National Congress of CPC, the National Financial Work Conference and the Central Economic Work Conference and deepen its functional position. Under the principles of “relative concentration, focusing on core business”, the Company will pursue prudent operation in compliance with laws and regulations, expedite reform and renovation, and earnestly fulfill professional duties in forestalling and defusing financial risks, serving the real economy and supporting the supply-side structural reform to help to forestall and defuse major risks, and win the sniper warfare of epidemic prevention and control, by adhering to the high-quality development ideas of “professional operation, efficiency first and value creation”. First, the Company will continue to improve the management of “extensive distressed asset” by refining its professions and strengthening core businesses. The group will strengthen the acquisition and disposal of distressed assets, adhere to effective investment, develop new acquisition and disposal methods and expand business channels to consolidate the leading advantages in the distressed assets industry. The group will improve the management capacity of “extensive distressed asset”, focus on distressed entities and distressed assets, promote financial risk mitigation and resolution, assist in the restructuring of distressed entities, forestall and defuse risks in key areas, and carry out substantive restructuring and liquidity assistance business in compliance with laws and regulations. Second, the Company will focus on its core business and play to its strengths to improve its capability in serving the real economy. The group will continue to enhance the maintaining functions of The group’s financial service support, such as investing greater efforts to support the antiepidemic enterprises and small and medium enterprises, so as to contribute to the epidemic prevention as well as orderly living and production resumption. The group will comprehensively utilize such opportunities as market-oriented debt-to-equity swap to assist in the reforms of state-owned enterprises; The group will promote industry merger and reorganization, expedite the clearance of “Zombie Enterprises”, and serve the transformation and upgrading of the real economy; The group will also timely resolve the risks of default bonds and stock pledge to effectively provide help to private enterprises. Third, the Company will strengthen synergism within the Group to improve the ability of resource integration. Focusing on core businesses, the Company will promote the differentiated, characteristic and professional development of financial service business, strengthen cooperation with external capital such as industrial investors by way of investment banking to deeply integrate resources, improve the ability to provide customized and personalized services, and enrich the business models of the Company. The Company will continue to strengthen the leadership of the Party, improve corporate governance and raise decision-making efficiency; continue to optimize its organization structure, improve the client-centric business model, deepen the reforms of direct operations in the headquarters, strengthen the guidance and coordination functions of the headquarters, speed up the optimization and integration of subsidiaries, and promote marketoriented reform, so as to enhance market competitiveness; stick to the bottom line thinking, and improve the compliance system, so as to continuously enhance the comprehensive risk management ability, firmly adhere to the red line for compliance and the bottom line of risks; strengthen the asset and liability management, diversify financing methods, optimize the structures of product, region and maturity and enhance capital management to ensure a safe liquidity; improve the authorization system and optimize the approval process, so as to realize the efficient allocation of resources and improve the level of refined management; strengthen the construction of information technology and promote the integrated development of the Company’s businesses and financial technologies, so as to improve the efficiency of operation and management; strengthen the construction of talent echelon and build a young, professional and high-calibre team; shape the Group’s unique culture, improve the incentive and restraint mechanism, and guide all employees to bear in mind their missions and to take on their responsibilities. In 2019, based on the primary duty and core business of distressed asset business, the Company adhered to the high-quality development philosophy of “professional operation, efficiency first and value creation”, and the Board, the Board of Supervisors and the Senior Management of the Company carefully studied and deployed the works related to corporate social responsibility, practiced the compliance requirements of Environmental, Social and Governance Reporting Guide issued by SEHK, promoted the risk prevention and mitigation, served the real economy, cared for employee growth, proposed green development, implemented targeted poverty alleviation, continued to maintain good performance, and made further achievements in environmental, social and governance. Contributing to defusing risks. By firmly holding fast to primary duty and core business of distressed assets business, and fully exerting the unique function of counter-cyclical tools and financial bailout, the Company strived to expand the “extensive distressed assets” operation pattern, actively carried out the acquisition and disposal of distressed assets from financial institutions and enterprises and innovated the acquisition and disposal of defaulted bonds. In 2019, the acquisition cost of distressed debt assets is RMB116.71 billion in total, which greatly enhanced proactivity and effectiveness on forestalling and defusing financial risks. Focusing on distressed entities and distressed assets, the Company carried out various measures, including crisis relief, bankruptcy reorganization of distressed enterprises, listed companies bail-out, and innovatively solving the debt crisis and guarantee chain difficulties for large-scale private enterprises, and achieved good results in dissolving industrial and regional risks. Keeping improving client service. In line with client-centric concept and relying on advantages of core business, the Company provided clients with professional, customized, differentiated services through multiple financial instruments. In order to boost the entity economy development, it offered supports for enterprises engaged in projects in connection with national and regional development strategies, such as “the Belt and Road” Initiative, Coordinated Development of Beijing-Tianjin-Hebei Region, and Guangdong, Hong Kong and Macao Bay Area Construction, etc. Besides actively participating in the supply-side structural reform, helping the reform of state-owned enterprises, and supporting the enterprise transformation and upgrading, it was also committed to promoting the development of livelihood undertakings, such as medical and health care, housing projects, electric energy as well as middle and small-sized enterprises. By enhancing customer management, development and service capabilities, the Company emphasized on client experience and demands to constantly improve client satisfaction. Moreover, it also carried out financial knowledge publicity and education activities to strengthen financial awareness of the public. Caring for employee growth. The Company adhered to the personnel-oriented principle, and promotes the unification of employees’ growth and development as well as corporate development. It promoted democratic management, protected the legitimate rights and interests of employees, and built a harmonious labor relationship. Strengthening the management of the cadre team, it built a development platform for employees, and a group of highly professional and young employees had taken up middle and senior management positions. In 2019, the Company carried out professional trainings of more than 1,300 sessions, with a total of 55,000 participants. On the occasion of the 70th anniversary of the founding of the People’s Republic of China and the 20th anniversary of the establishment of the Company, the Company organized many activities for employees, including exhibitions of calligraphy, of painting, and of photography, micro-video recording, essays, speeches and sports competitions to enhance employees’ sense of belonging and team cohesion. The Company also carried out the “Send Warmth” campaign to care for employees in need. Advocating green development. The Company paid attention to global climate changes and integrated green, low-carbon and environmental protection concepts into business development and operation management. The Company carried out green finance business so as to provide financial support for green enterprises and energy-saving and environmental protection projects, and help projects for ecological environment governance and soil restoration, and relocation of metal enterprises. It expanded the business model of cooperating with Internet companies to disposal of distressed assets, and saved energy and resources usage during the transaction. The Company adhered to low-carbon operations, promoted energy conservation and emission reduction measures such as paperless office work, properly disposed of waste computers and other office wastes, and reduced adverse environmental impacts. Actively organized and participated in public welfare activities such as environmental protection, paid attention to environmental protection issues, and cultivated employees’ environmental protection awareness, to act as communicators, practitioners and promoters of ecological civilization. Conducting targeted poverty alleviation. The Company conscientiously implemented the poverty alleviation decision deployment, and promoted the transition of poverty alleviation methods from “transfusion-type” to “hemopoiesis-type”. The Company’s management has conducted in-depth investigations on poverty areas for many times. The 21 ministers of poverty alleviation fought in the front lines of poverty alleviation in more than 10 provinces, autonomous regions and cities, including Qinghai and Xinjiang. They made efforts to tackle poverty through multiple dimensions, including industrial assistance, infrastructure assistance, education assistance, and consumption assistance. The Company increased funding, implemented RMB7.40 million in poverty alleviation and other charitable donation throughout the year, and increased the plan scale and number of beneficiaries of the charity trust “Great Cinda”. It also promoted the construction of the relocation project of Qilidian Village, Ledu County, Qinghai. Adhering to the combination of poverty alleviation and intellectual assistance, the Company preached financial knowledge in the “Financial Inclusion” programs for a total of 18,000 people-times during the recent three years. It also carried out activities to help students and visit the poor as well as care for the vulnerable groups. Strengthening epidemic prevention and control. In response to the outbreak of COVID-19, the Company strengthened its arrangements and deployments in accordance with the decisions and deployments of the Party Central Committee and the State Council as well as the relevant requirements of the CBIRC to fully launch the Company’s epidemic prevention and control. The Company donated RMB5.00 million through Hubei Charity Federation to help Hubei conduct epidemic preventions and controls. At the same time, the Company disbursed the special funds for preventing and controlling to basic-level trade unions to implement epidemic prevention for employees. It also increased financial supports for clients, and help enterprises organize and conduct production and operation activities during the special period, so as to contribute to fight against the epidemic prevention.

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