Core Insights - Baorui Trust's equity has been judicially frozen, raising market concerns [1] - The frozen equity amounts to 38.4 million yuan, with a freeze period from October 22, 2025, to October 21, 2028 [1] - Baorui Trust reported its first loss in its history in the first half of 2025, with a net profit of -25 million yuan [1] Financial Performance - In the 2024 financial year, Baorui Trust achieved revenue of 593 million yuan, a decline of 28.02% compared to the previous year [1] - The net profit for the same period was 279 million yuan, down 13.44% year-on-year [1] - The continuous decline in revenue and net profit has contributed to the company's loss in the first half of 2025 [1] Company Background - Baorui Trust is one of two trust companies in Henan Province, the other being Zhongyuan Trust [1] - The company was established in 1986, originally as Zhengzhou Trust Investment Company [1] - It underwent several name changes, becoming Baorui Trust Limited Liability Company in 2007 [1]