Core Viewpoint - Harbin Bank is optimizing its asset structure by transferring non-performing assets to China Cinda Asset Management Co., Ltd. Tianjin Branch for approximately RMB 3.42 billion, with an initial transfer price of about RMB 2.34 billion [1] Group 1: Debt Transfer Agreement - The debt transfer agreement involves the transfer of certain non-performing loans, including principal and interest, with a total book balance of approximately RMB 5.74 billion as of the reference date of October 31, 2025 [1] - The transfer is conducted through a public bidding process, selecting China Cinda Asset Management Co., Ltd. Tianjin Branch as the buyer [1] - The board of directors believes that entering into the debt transfer agreement is beneficial for the company and its shareholders overall [1]

本公司的公司章程為中文版，英文版章程為中文版的翻譯文件。若中英文版章程存在任何不一致，以中文版為 準。 China Cinda Asset Management Co., Ltd. 2012年1月16日公司2012年第一次臨時股東大會修訂，2012年3月30日中國銀行業監督 管理委員會核准； 2013年8月5日公司2013年第二次臨時股東大會修訂，2013年8月11日及2014年3月20 日中國銀行業監督管理委員會核准； 2016年6月30日公司2015年度股東大會修訂，2016年7月25日中國銀行業監督管理委員 會核准； 2016年6月30日公司2015年度股東大會授權修訂，2017年7月5日中國銀行業監督管理 委員會備案； 2010年6月28日中國信達資產管理股份有限公司創立大會暨第一次股東大會通過， 2010年6月28日中國銀行業監督管理委員會核准； 中國信達資產管理股份有限公司 （於中華人民共和國註冊成立的股份有限公司） 中國信達資產管理股份有限公司 章程 二〇二五年十二月二十四日 歷次修訂 2017年10月31日公司2017年第三次臨時股東大會修訂，2018年4月2日中國銀行保險監 督管理委員會核准 ...

Core Viewpoint - Harbin Bank is optimizing its asset structure by transferring non-performing assets to China Cinda Asset Management Co., Ltd. Tianjin Branch for approximately RMB 3.42 billion, with an initial transfer price of about RMB 2.34 billion [1] Group 1: Debt Transfer Agreement - The debt transfer agreement was signed on December 29, 2025, where Harbin Bank (as the transferor) agreed to transfer certain debts to China Cinda Asset Management Co., Ltd. Tianjin Branch (as the transferee) [1] - The transferred debts include the principal and interest, along with other rights related to the debts, totaling a book balance of approximately RMB 5.74 billion as of the benchmark date of October 31, 2025 [1] Group 2: Asset Optimization - The transfer of non-performing assets is aimed at optimizing the company's asset structure, which is considered beneficial for the company and its shareholders [1] - The selection of China Cinda Asset Management Co., Ltd. Tianjin Branch as the buyer was conducted through a public bidding process [1]

China Cinda Asset Management Co., Ltd. 中國信達資產管理股份有限公司 （於中華人民共和國註冊成立的股份有限公司） 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發表 任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任 何責任。 關於公司章程修訂獲核准及不再設立監事會的公告 茲提述日期為2025年9月30日中國信達資產管理股份有限公司（「本公司」）之有關修訂公 司章程、股東大會議事規則及董事會議事規則（「有關修訂」）及不再設立監事會的通函 （「該通函」）。本公司於2025年10月22日召開的2025年第二次臨時股東大會審議批准了 有關修訂的議案以及關於不再設立監事會的議案。除非另有所指，本公告內所使用的詞 語與該通函內所界定者具有相同涵義。 本公司於近日收到金融監管總局下發的《國家金融監督管理總局關於中國信達資產管理 股份有限公司修改公司章程的批覆》（金覆[2025]756號），核准修訂後的公司章程。有關 修訂的詳情請見該通函。修訂後的公司章程全文請參見香港聯交所網站( www. ...

Group 1 - The core point of the article is that Harbin Bank has announced a debt transfer agreement with China Cinda Asset Management Co., Ltd. Tianjin Branch to optimize its asset structure by transferring non-performing assets [1] - The debt transfer involves the main debt and all related rights and assets under the debt transfer agreement, including rights to litigation costs and any assets derived from these rights [1] - The transfer of non-performing assets is expected to benefit the company and its shareholders overall, as stated by the board of directors [1] Group 2 - The debt transfer will be conducted through a public bidding process, with China Cinda Asset Management Co., Ltd. Tianjin Branch selected as the buyer [1] - The agreement is set to be finalized by October 31, 2025, which indicates a strategic timeline for the asset optimization process [1] - The board believes that the debt transfer will enhance the company's asset structure, reflecting a proactive approach to managing non-performing assets [1]

| 新任高级管理人员职务 | 董事长 | | --- | --- | | 新任高级管理人员姓名 | 唐伦飞 | | 是否经中国证监会核准取得高管任职 | | | 资格 | | | 中国证监会核准高管任职资格的日期 | | | 任职日期 | 2025年12月25日 | | 过往从业经历 | 曾任职于信达证券股份有限公司,中国信达资 | | | 产管理股份有限公司投融资业务部:历任中国 | | | 信达(香港)控股有限公司风险总监、竞委委员, | | | 中国信达资产管理股份有限公司业务审核部副 | | | 总经理。 | | 取得的相关从业资格 | 基金从业资格 | | 国际 | 中国 | | 学历、学位 | 研究生学历 硕士学位 | 中国经济网北京12月29日讯近日，信达澳亚基金公告，任命唐伦飞为董事长。副总经理鲁力离任。 | 商任高级管理人员职务 | 副总经理 | | --- | --- | | 商任高级管理人员姓名 | 鲁力 | 唐伦飞曾任职于信达证券股份有限公司，中国信达资产管理股份有限公司投融资业务部；历任中国信达 (香港)控股有限公司风险总监、党委委员，中国信达资产管理股份有限公司业务审核部副总经理。 ...

Core Viewpoint - The recent management changes at Xinda Australia Fund indicate a significant leadership transition, with Tang Lunfei appointed as the new chairman, effective December 25, 2025, following the departure of Deputy General Manager Lu Li for personal reasons [1][10]. Management Changes - Lu Li has resigned as Deputy General Manager due to personal reasons, with his departure effective on December 25, 2025 [4][13]. - Tang Lunfei has been appointed as the new chairman, with a background in financial services, including previous roles at Xinda Securities and China Xinda Asset Management [3][12]. - The company has undergone its second major leadership transition this year, following the earlier resignation of former chairman Zhu Ruimin on August 23, 2025, and the interim appointment of Shang Jian [5][14]. Company Background - Xinda Australia Fund, established on June 5, 2006, is headquartered in Shenzhen and is the first fund management company in China controlled by a state-owned asset management company [7][16]. - As of September 30, 2025, the fund's total asset size is 110.04 billion yuan, with non-monetary assets amounting to 64.369 billion yuan, ranking 66th among 162 fund companies [7][16]. Future Outlook - The leadership changes, particularly the appointment of Tang Lunfei, signify a new development phase for the fund, which may leverage its state-owned background and international perspective to navigate the competitive public fund industry [9][18].

Core Insights - The article discusses the evolving role of Asset Management Companies (AMCs) in China, particularly in managing non-performing assets and addressing financial risks in various sectors [1][2][4]. Group 1: Role of AMCs - AMCs were initially established to handle non-performing assets of banks, aiding in the reform of state-owned banks and enterprises [2]. - The book "Research on the Development of China's Special Asset Industry 2025" highlights the significant contributions of AMCs in risk resolution across key sectors such as real estate and local government debt [2][3]. - AMCs are increasingly involved in optimizing resource allocation and enhancing capital structures of enterprises, as seen in various case studies [3][5]. Group 2: Business Model Upgrades - AMCs are transitioning from traditional asset disposal to a more integrated approach that includes financial restructuring and risk management for enterprises [4]. - The shift towards a "three deep" model emphasizes in-depth restructuring to alleviate financial distress, moving away from rapid asset turnover [4]. - The emergence of direct services to real enterprises reflects a proactive risk prevention strategy, utilizing diverse methods such as bankruptcy restructuring and market-oriented debt-to-equity swaps [4][5]. Group 3: Enhancing Client Relationships - AMCs are expanding their focus from asset management to institutional collaboration, aiding struggling enterprises while fostering partnerships with industry leaders [5]. - The emphasis on identifying quality investors and providing tailored financial services is crucial for successful restructuring outcomes [5]. Group 4: High-Quality Development - The article underscores the need for AMCs to enhance their professional capabilities, operational mechanisms, and institutional frameworks to support high-quality development [7][8]. - Continuous improvement in investment research, banking capabilities, and innovation is essential for AMCs to navigate the complexities of the financial landscape [7]. - The establishment of a robust regulatory and assessment framework is necessary for AMCs to effectively fulfill their roles in risk management and economic stability [8].

Group 1 - Green Leaf Pharmaceutical (02186.HK) announced a share transfer agreement involving Nanjing Green Leaf, a subsidiary, where an investor will transfer 25% of its stake for RMB 1.086 billion to Nanjing Xinshi [1] - Nanjing Xinshi is a limited partnership, with Shandong Green Leaf, a wholly-owned subsidiary, acquiring approximately 33.2% of its partnership interests for RMB 200 million [1] - The remaining interests in Nanjing Xinshi are held by China Cinda (approximately 66.4%) and two general partners, Hangzhou Xinshi and Yantai Hexin, each holding about 0.2% [1] Group 2 - Nanjing Xinshi has the right to request Yantai Green Leaf to repurchase its stake in Nanjing Green Leaf under a share option agreement upon the occurrence of specified events [2] - Yantai Green Leaf has the option to require China Cinda to sell its interests in Nanjing Xinshi, and must also acquire Hangzhou Xinshi's partnership interests if it exercises this option [2] - Following the completion of the share transfer, Nanjing Xinshi will secure bank financing of up to RMB 648 million, with Yantai Green Leaf and Shenzhen Green Leaf providing guarantees for this financing [2]

Group 1 - Green Leaf Pharmaceutical (02186) announced a share transfer agreement involving Nanjing Green Leaf, a subsidiary, where an investor will transfer 25% of its stake for RMB 1.086 billion to Nanjing Xinshi [1] - Nanjing Xinshi, a limited partnership, will acquire the stake, while Shandong Green Leaf, a wholly-owned subsidiary, subscribed to approximately 33.2% of Nanjing Xinshi's partnership interests for RMB 200 million [1] - The remaining interests in Nanjing Xinshi are held by China Cinda with about 66.4% and by Hangzhou Xinshi and Yantai Hexin as general partners, each holding approximately 0.2% [1] Group 2 - Following the share transfer, Nanjing Xinshi is expected to secure bank financing of up to RMB 648 million, with guarantees provided by Yantai Green Leaf and Shenzhen Green Leaf [2] - The purpose of the transaction is to introduce third-party investors to provide financing and support for the payment of the share transfer, ensuring timely access to necessary funds for acquiring the 25% stake in Nanjing Green Leaf [2] - Nanjing Green Leaf and its subsidiaries primarily engage in the production and sale of pharmaceuticals, focusing on cancer treatment [2]