银行系信托，迎新董事长！

Core Viewpoint - The approval of Cui Bingwen as the new chairman of Shanghai International Trust marks a significant leadership change for the company, which is one of the earliest established trust companies in China and is known for its comprehensive range of financial services [1][5]. Company Overview - Shanghai International Trust was established in 1981 with a registered capital of 5 billion yuan. The company is primarily engaged in asset management and wealth management services for high-net-worth clients, covering various areas including equity and debt financing, securities investment, alternative investments, and family legacy services [2]. - The company is controlled by Shanghai Pudong Development Bank, which holds a 97.3333% stake [2]. Leadership Changes - The recent appointment of Cui Bingwen as chairman follows the departure of former chairman Pan Weidong, who had served since June 2008. Pan stepped down from his roles in December 2022 but remains the legal representative of the company [3][5]. - Cui Bingwen, born in 1969 and holding a doctoral degree, has extensive experience in the financial sector, previously serving in various leadership roles at Shanghai Pudong Development Bank and other institutions [5]. Financial Performance - In 2024, Shanghai International Trust reported a significant decline in financial performance, with a net profit of 669 million yuan, down 86.49% year-on-year. The company’s operating revenue also fell by 77.25% to 1.852 billion yuan [6]. - The drastic changes in net profit are attributed to high investment income in the previous year, particularly from the sale of a 51% stake in a fund management company, which inflated the 2023 profits [6]. Asset Management - As of the end of 2024, Shanghai International Trust managed trust assets totaling 956.823 billion yuan, reflecting an 82.9% increase from the beginning of the year. The company reported a non-performing asset total of 55.5 million yuan, with a non-performing rate of 2.48%, down 1.15 percentage points from the start of the year [7]. - The company is actively pursuing a transformation strategy in response to the evolving economic landscape, focusing on enhancing wealth management and asset management capabilities while cautiously managing financing-related business scales [7].