On 29 November, the Zhejiang Regulatory Bureau of the China Banking and Insurance Regulatory Commission (CBIRC) issued an announcement approving Chen Kai's qualifications as Chief Financial Officer of Hangzhou Industrial and Commercial Trust Co., Ltd. ("Hangzhou Industrial and Commercial Trust"). The last CFO of Hangzhou Industrial and Commercial Trust was Kangbo, who has been in office for less than two years since he took office in March 2020.
The public information does not show the relevant information of the new CFO Chen Kai. According to the annual report of Hangzhou Industrial and Commercial Trust, the former CFO Kang Bo was the manager of the trust business department, the manager of the audit department, the head of the planning and finance department, the financial director and the vice president of the Hangzhou Industrial and Commercial Trust Trust.
This year, Hangzhou Industrial and Commercial Trust executives have changed frequently. From June 30 to July 1 this year, Hangzhou Industrial and Commercial Trust served as the new vice president He Ping and the new vice president Feng Weiwei, respectively; on April 2, Liu Hongyuan's qualification as a director of Hangzhou Industrial and Commercial Trust, Lou Wei's qualification as a director, and Su Xianze's independent director qualification were approved.
According to Tianyan' inspection, in June this year, the filing of senior executives of Hangzhou Industrial and Commercial Trust was changed in batches. Director and general manager Ding Jianping, director Xu Yunhe, director Jin Xuejun, supervisor Shen Weiqin, supervisor Shi Feng all withdrew from the ranks of senior executives; the new personnel were Cao Linghua, supervisor, and the above-mentioned personnel. In addition, the position of general manager was replaced by Jiang Long.
According to the official website of Hangzhou Industrial and Commercial Trust, it was established in 1986 and re-registered in 2003 with the approval of Chinese Minmin Bank, with a registered capital of 1.5 billion yuan, making it the first joint-stock financial enterprise in Hangzhou. The controlling shareholder is Hangzhou Financial Investment Group Co., Ltd., and other shareholders include Greenland Financial Investment Holding Group Co., Ltd., Baida Group Co., Ltd., Zhejiang University Holding Group Co., Ltd., and Xizi Elevator Group Co., Ltd.
Hangzhou Industrial and Commercial Trust business includes three categories, namely asset management, wealth management and service trust.
Asset management includes industrial finance such as real estate trusts, infrastructure trusts, industrial and commercial enterprise trusts and special asset trusts, as well as cash management and short-term wealth management, TOF, FOF, index-enhanced series products, etc. Wealth Management and Services Trusts are not described in detail.
According to the 2020 annual report of Hangzhou Industrial and Commercial Trust, it achieved revenue of 1.11 billion yuan last year, of which fees and commissions contributed more than 70% of the revenue. Achieved an operating profit of 822 million yuan and a net profit of 618 million yuan. The balance sheet of trust projects disclosed that the loan amount issued by Hangzhou Industrial and Commercial Trust reached 13.33 billion yuan at the beginning of last year, which was reduced to 9.662 billion yuan at the end of the period. According to the distribution table of trust assets, Hangzhou Industrial and Commercial Trust applied 22.34% of its assets to loans, and the amount involved is 9.662 billion yuan.
The annual report discloses that the top five self-financing enterprises are Yinjiang Technology Group Co., Ltd., Chizhou Yuanzhou Tourism Development Co., Ltd., Shanghai Yihe Food International Trade Co., Ltd. and Shanghai Yuanzhou Hotel Co., Ltd. The proportion of the above-mentioned companies in the total loans was 36.07%, 26.64%, 21.31% and 15.98% respectively.
This article originated from Blue Whale Finance
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