Core Viewpoint - China Cinda Asset Management Co., Ltd. faces regulatory scrutiny due to improper financing practices disguised as asset acquisitions, leading to warnings for its executives [1][4]. Regulatory Actions - Liu Rui, the former deputy general manager of China Cinda's Shanxi branch, received a warning for being responsible for financing disguised as the acquisition of non-financial institutions' bad assets [1][4]. - In January 2025, China Cinda's Shanxi branch was fined 620,000 yuan for similar violations, including inadequate assessment of bad assets [4]. Financial Performance - China Cinda reported a revenue of 73.04 billion yuan in 2024, a year-on-year decline of 4.11%, and a net profit of 3.51 billion yuan, down 49.84% [6]. - The company has experienced a continuous decline in net profit over the past three years, with figures of 13 billion yuan, 7.23 billion yuan, and 6.99 billion yuan from 2021 to 2023 [7]. Business Segments - The core business of China Cinda, which is bad asset management, has seen a decline in revenue from 80.1 billion yuan in 2020 to 40.37 billion yuan in 2024, representing a decreasing share of total revenue from 70.5% to 55.3% [8]. - In 2024, the bad asset management segment reported a pre-tax loss of 587 million yuan, marking a 112.89% decline year-on-year [8]. Ownership Changes - Recently, the Ministry of Finance plans to transfer all domestic shares of China Cinda to Central Huijin Investment Ltd., changing the actual controller from the Ministry of Finance to Huijin [9].
中国信达这家分公司再收罚单，涉及变相为企业融资