中原信托获一纸胜诉，行业转型阵痛中谋破局

Core Viewpoint - Zhongyuan Trust has achieved a significant legal victory regarding the risk management of its real estate trust, marking a phase in its ongoing challenges amid industry transformation [1] Financial Performance - From 2020 to 2024, Zhongyuan Trust's operating revenue showed a "high-low rebound" trend, with revenues of 833 million in 2020, rising to 1.071 billion in 2021, then dropping to 757 million in 2022, slightly increasing to 791 million in 2023, and projected to reach 881 million by the end of 2024, indicating that revenue levels have not returned to the peak of 2021 [2] - Profitability has also fluctuated, with net profits of 313 million in 2020, a slight increase to 329 million in 2021, a sharp decline to 126 million in 2022, and a recovery to 144 million in 2024, reflecting an unstable profit capability over the past three years [2] Capital and Management Changes - In response to the dual challenges of industry transformation and performance pressure, Zhongyuan Trust has undergone significant capital and management adjustments, including an approved capital increase of approximately 724 million from Henan Investment Group, raising its registered capital from 4.681 billion to 5 billion [3] - This marks the seventh capital increase since the company's restructuring in 2002, making it the fifth trust company to complete a capital increase in 2025, following Dongguan Trust, Tianjin Trust, Northern Trust, and Jilin Trust [3] - The management team has also seen major changes, with the current chairman, Cao Weidong, having a background in Industrial and Commercial Bank of China, succeeding Zhao Weihua, who was investigated for serious violations of discipline and law in April 2022 [3]