China Huarong Asset Management Co., Ltd. (China Huarong, stock code: 2799), previously known as China Huarong Asset Management Corporation, was founded on November 1, 1999. On September 28, 2012, the Company was converted into a joint stock limited company upon the approval of the State Council. On October 30, 2015, China Huarong was listed on the Main Board of the Hong Kong Stock Exchange.
By the end of 2019, the total assets of China Huarong reached RMB 1.71 trillion, with net assets of RMB 163.48 billion. The Company’s total revenue in 2019 reached RMB 112.66 billion with net profit of RMB 2.27 billion.
Currently, China Huarong has wide geographic coverage across 30 provinces, autonomous regions and municipalities in the Chinese mainland as well as Hong Kong and Macau. The Company has 33 branches across the country as well as many operating subsidiaries, including Huarong Securities, Huarong Financial Leasing, Huarong Xiangjiang Bank, Huarong International Trust, Huarong Futures, Huarong Rongde, Huarong Industrial, Huarong International and Huarong Consumer Finance. With these platforms, the Company provides comprehensive financial services in areas such as distressed asset management, asset management, banking, securities, trust, financial leasing, investment, futures and consumer finance.
Looking into the future, China Huarong will adhere to the national orientation of financial asset management companies, focus on the main business of distressed assets management, strive to serve the real economy, prevent and control financial risks, deepen reform and transformation, create a sustainable business model, and achieve the goal of high-quality development.