On 16 November, the Yunnan Banking and Insurance Regulatory Bureau (CBIRC) announced the approval of the change of equity of Yunnan International Trust Co., Ltd. (hereinafter referred to as "Yunnan Trust"), approving the change of yunnan provincial financial capital holdings shareholder Yunnan Provincial Department of Finance to Yunnan Provincial State-owned Financial Capital Holding Group Co., Ltd. (hereinafter referred to as "Yunnan Financial Holdings"), and Yunnan Financial Holdings as a wholly-owned subsidiary of the Yunnan Provincial Department of Finance. After the change of equity, the registered capital of Yunnan Trust remains unchanged.
At present, the shareholder composition and capital contribution ratio of Yunnan Trust are 25% held by Yunnan Financial Holdings, 24.5% by Yongjin Industrial (Group) Co., Ltd., 23% by Shanghai Nano Venture Capital Co., Ltd., 17.5% by Beijing Zhijin Technology Investment Co., Ltd., 7.5% by Shenzhen Zhongmin E-commerce Holdings Co., Ltd., and 2.5% by Yunnan Hopewell (Group) Co., Ltd.
According to the official website of Yunnan Trust, Yunnan Trust was founded in February 1991 with a registered capital of 1.2 billion yuan, and was re-registered after the capital increase and restructuring of the former Yunnan International Trust and Investment Company. Gan Yu, a legal person, was a staff supervisor of Ping An Bank.
According to the annual report, its trust business includes securities investment trusts, loan financing trusts, property rights trusts, consumer finance trusts, equity investment trusts, credit asset transfer trusts, real estate and infrastructure trusts, etc. Yunnan Trust said that it mainly lays out the private equity asset securitization business, exploring in the credit assets, supply chain finance, consumer finance, commercial properties, and non-standard asset sectors.
In terms of consumer financial trusts, Yunnan Trust claims on its official website that it usually adopts the method of trust loans, recommends borrowers with Internet consumer finance enterprises as lending institutions, and launches a self-developed "Inclusive Star" system. Cooperate with consumer finance companies to carry out consumer staging business in agriculture, rental housing and other scenarios.
Taking the agricultural scene as an example, Yunnan Trust established the "Yunnan Trust Puhui No. 2 Agricultural Installment Single Fund Trust", which cooperates with the mainstream agricultural machinery production and distributors in China to provide installment loans for large-scale planting farmers who purchase agricultural machinery, agricultural materials, pay land rent and other purposes.
According to the annual report of Yunnan Trust, it has no self-operated loan business in 2019 and 2020. In fact, it is common for trust companies to transfuse blood and consume funds through trust plans, and Yunnan Trust is a "player" in the field of consumer finance.
Yunnan Trust also cooperated with Hailian Jinhui (002537. SZ）。 According to the 2019 annual report of Hailian Jinhui, UMF, an important financial technology platform under Hi-Link Jinhui, entrusted Yunnan Trust to provide loans to qualified borrowers designated under the consumption installment shopping and credit card bill installment scenarios that occurred during the consumer financial services of UMF's own business platform with its own funds, and as of the end of the year, the balance of loans issued was 70.2408 million yuan, and the provision for loan losses was 68.5347 million yuan.
According to the annual report information, in 2020, Yunnan Trust, Hailian Jinhui and UMF did not show continued cooperation. In addition, in 2020, Yunnan Trust achieved operating income of 746 million yuan, down 15.61% year-on-year, and net profit of 320 million yuan, down 20.6% year-on-year.
As early as 2016, Yunnan Trust also signed a strategic cooperation agreement with Bairong Yunchuang (06608.HK) (formerly Bairong Financial Services, now stock name Bairong Cloud-W), and Bairong Financial Services provided big data financial information services for Yunnan Trust.
It is worth mentioning that the second, third and fourth largest shareholders of Yunnan Trust are consistent actors, all of which belong to the "Yongjin" company. The actual controller of the three companies is also Chen Jinxia, the actual controller of the current "Yongjin System", and the three companies hold a total of 65% of the shares in Yunnan Trust, and the "Yongjin System" may be the actual controller of Yunnan Trust. After the death of Wei Dong, the founder of Yongjin Group, Yongjin department withdrew from a number of listed companies and retained its core financial assets Yunnan Trust and Guojin Securities.
Last year, it was reported that Yunnan Trust wanted to introduce war investment. The news said that two or three companies are in due diligence, and the introduction of the Yunyong series of products after the introduction of the war investment or conducive to solving the previous thunder "Chengxing case". Yunyong series projects have a total of 11 trust products, with a trust scale of about 1.583 billion yuan. There has been no real progress to date.
The registered capital of Yunnan Financial Holdings is 15 billion yuan, which was registered in May 2019. The business scope includes state-owned financial capital investment, capital operation and asset management, financial research, business data and credit and other financial information collection and management consulting. According to the official website, its investment business and financial services do not show specific businesses and products.
This article originated from Blue Whale Finance
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