China Cinda Asset Management Co., Ltd. known as China Cinda or just Cinda is a Chinese merchant bank and asset management company. The corporation was founded as a state-owned enterprise and a bad bank for China Construction Bank in 1999. The bank received shares by debt-to-equity swap on non-performing loans. In 2010, the corporation became a "company limited by shares".[2]
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Native name | 中国信达资产管理股份有限公司 |
|---|---|
| Formerly | China Cinda Asset Management Corporation |
| Company type | State-owned enterprise |
| Industry | Financial services |
| Founded | 1999 |
| Headquarters | No. 1 Building, 9 Naoshikou Street, Xicheng District, Beijing , China |
Area served | China |
Key people |
|
| Services | |
| Revenue |  CN¥78.7 billion (2015) |
| CN¥19.3 billion (2015) | |
| CN¥14.0 billion (2015) | |
| Total assets | CN¥714.0 billion (2015) |
| Total equity | CN¥101.7 billion (2015) |
| Owner |
|
| Parent | Ministry of Finance of China |
| Subsidiaries | Cinda Securities |
| Website | www |
| Footnotes / references in a consolidated basis[1] | |
| China Cinda Asset Management Co., Ltd. | |||||||
|---|---|---|---|---|---|---|---|
| Simplified Chinese | 中国信达资产管理股份有限公司 | ||||||
| Traditional Chinese | 中國信達資產管理股份有限公司 | ||||||
| |||||||
| China Cinda | |||||||
| Simplified Chinese | 中国信达 | ||||||
| Traditional Chinese | 中國信達 | ||||||
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In 2013, part of the shares were started to float on Hong Kong Stock Exchange. In 2015 Cinda acquired Nanyang Commercial Bank from fellow state-controlled financial conglomerate Bank of China (Hong Kong).[3][4]
In January 2024, it was announced that Cinda would be merged with China Orient Asset Management and China Great Wall Asset Management to create China Investment Corp (CIC).[5]
Portfolio companies
edit- Baiyin Nonferrous (5.38%)
- China Unicom (via private equity fund)
- Daye Non-Ferrous Metals Mining (SEHK: 661, 5.24%)[6]
- Fenxi Mining Industry Group
- Jincheng Anthracite Mining Group (17.066%)
- Huozhou Coal Electricity Group (36.97%)
- Taiyuan Coal Gasification Group (11.15%)
- Xishan Coal Electricity Group (35.47%)
- SouthGobi Resources (through Novel Sunrise)
References
edit- ^ "2015 Annual Report" (PDF). China Cinda. archive of Hong Kong Stock Exchange. 28 April 2016. Retrieved 13 October 2016.
- ^ "中国东方资产管理股份有限公司成立" [The establishment of China Orient Asset Management Co. Ltd.] (in Chinese). chinanews.com. 30 August 2016. Retrieved 13 October 2016.
- ^ "BOCHK realises HK$30 billion profit from Nanyang sale". SCMP. 2016-05-30. Retrieved 2019-01-14.
- ^ "Major Transaction Acquisition of all the Issued Shares of Nanyang Commercial Bank, Limited" (PDF). China Cinda Press Release. 2015-12-18. Retrieved 2019-01-14.
- ^ "China to merge three major asset managers into China Investment Corp -Xinhua". Reuters. 2024-01-29.
- ^ "2015 Annual Report" (PDF). Daye Non-Ferrous Metals Mining. 27 April 2016. Retrieved 16 October 2016.