May 28, 2017 7:10 PM ET

Capital Markets

Company Overview of China Huarong Asset Management Co., Ltd.

Company Overview

China Huarong Asset Management Co., Ltd., together with its subsidiaries, provides financial asset management services in China. The company operates through three segments: Distressed Asset Management, Financial Services, and Asset Management and Investment. It manages, invests in, and disposes financial and non-financial institution distressed assets, including debt-to-equity swap assets. The company is also involved in the bankrupt management, and investment and securities dealing activities; provision of financial bonds issuance, inter-bank borrowing and lending, and commercial financing for other financial institutions; asset securitization business, financial institutions custody, and ...

No. 8, Financial Street

Xicheng District

Beijing,  100033

China

Founded in 1999

11,365 Employees

Phone:

86 10 5961 8888

Fax:

86 10 5961 8000

Key Executives for China Huarong Asset Management Co., Ltd.

President and Executive Director
Age: 52
Total Annual Compensation: CNY490.0K
Chairman of the Board
Age: 53
Total Annual Compensation: CNY554.0K
Compensation as of Fiscal Year 2016.

China Huarong Asset Management Co., Ltd. Key Developments

China Huarong Asset Management Co., Ltd. Announces Audited Consolidated Earnings Results for the Year Ended December 31, 2016

China Huarong Asset Management Co., Ltd. announced audited consolidated earnings results for the year ended December 31, 2016. For the year, the company reported total income of RMB 95,207.7 million, compared to RMB 75,385.8 million a year ago. Profit before tax was RMB 30,509.3 million compared to RMB 22,245.9 million a year ago. Profit for the year was RMB 23,108.5 million compared to RMB 16,950.8 million a year ago. Profit attributable to equity holders of the company RMB 19,613.5 million compared to RMB 14,482.1 million a year ago. Basic and diluted earnings per share for the year was RMB 0.50 compared to RMB 0.43 a year ago. Net cash used in operating activities was RMB 65,570.8 million against RMB 41,206.9 million reported last year. Cash payments for purchases of financial assets was RMB 463,537 million against RMB 153,195.13 million reported last year. Cash payments for purchases of property and equipment, investment properties and other assets was RMB 839.6 million against RMB 1,745.1 million reported last year.

China Huarong Asset Management Co., Ltd. Proposes to Distribute Cash Dividend for 2016

The Board of China Huarong Asset Management Co., Ltd. has proposed to distribute to shareholders a cash dividend for 2016 of RMB 1.506 (tax inclusive) per 10 shares. The profit distribution plan will be proposed to the 2016 Shareholders' general meeting for consideration and approval.

China Huarong Asset Management Co., Ltd. Announces Board Changes

The Board of China Huarong Asset Management Co., Ltd. received a letter of resignation from Mr. Hu Jianjun on 14 April 2017. Mr. Hu has tendered his resignation as the secretary to the Board due to his health condition. The resignation of Mr. Hu was effective upon receipt of the letter of resignation by the Board. Mr. Hu will continue to serve as the company secretary of the company and one of the authorized representatives under Rule 3.05 of the Listing Rules. The Board has appointed Mr. Li Yingchun as the secretary to the Board, to replace Mr. Hu. His term of office shall take effect from the date of approval by the China Banking Regulatory Commission until the next reappointment or change of appointment is made by the Board. Mr. Li is the director of the office of the Board.

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
March 8, 2017
Skyway Securities Group Limited
Merger/Acquisition
January 7, 2017
AECC Aero-engine Control Co., Ltd.
Merger/Acquisition
December 21, 2016
AECC Aviation Power Co Ltd
 

The information and data displayed in this profile are created and managed by S&P Global Market Intelligence, a division of S&P Global. Bloomberg.com does not create or control the content. For inquiries, please contact S&P Global Market Intelligence directly by clicking here.

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Lawyers Committee for Civil Rights Under Law United States
NYC2012, Inc. United States
Bertelsmann AG Europe
Rush University United States
The Advertising Council, Inc. United States

Sponsored Financial Commentaries

Sponsored Links

Request Profile Update

Only a company representative may request an update for the company profile. Documentation will be required.

To contact China Huarong Asset Management Co., Ltd., please visit www.chamc.com.cn. Company data is provided by S&P Global Market Intelligence. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.