Core Viewpoint - The restructuring of Sichuan Trust has been approved, with Shudao Investment Group becoming the largest shareholder, holding 58.6278% of the shares [1][2]. Group 1: Shareholding Changes - Sichuan Trust's shareholding structure has changed significantly, with Shudao Investment Group now holding 58.6278% of the company [1]. - Other shareholders include Sichuan Tianfu Chunxiao Enterprise Management Co., Ltd. with 15.0118%, Chengdu Jiaozi Financial Holding Group Co., Ltd. with 10.0949%, Chengdu Xingshuqing Enterprise Management Co., Ltd. with 10.0949%, and two limited partnership enterprises holding 0.1466% and 2.8260% respectively [1]. Group 2: Regulatory Compliance and Governance - The approval mandates Sichuan Trust to strictly adhere to relevant laws and regulations during the shareholding change process [2]. - Sichuan Trust is required to enhance its shareholding management, optimize its shareholding structure, and strengthen corporate governance and internal control mechanisms to mitigate risks [2]. Group 3: Background and Previous Issues - Sichuan Trust was established on November 28, 2010, with a registered capital of 3.5 billion yuan [2]. - In mid-2020, the company faced significant challenges due to the inability of financing enterprises to repay trust funds on time, leading to overdue trust products and regulatory intervention [2].

Core Viewpoint - Huaxin Trust has initiated the transfer of trust beneficiary rights through Anding Company, marking significant progress in risk resolution amid a stabilizing real estate sector [1][2] Group 1: Company Actions - On August 14, Anding Company officially started the trust beneficiary rights transfer process, with the signing work nearing completion [1] - Huaxin Trust has set a deadline for individual investors to sign agreements by September 25, 2025, with no extension available [1] - The company has utilized various communication methods to notify investors about the signing process [1] Group 2: Industry Context - Huaxin Trust has been involved in risk resolution for several years, with a recent announcement indicating a move towards payment and risk resolution [1] - The trust company was listed among six high-risk trust companies by the China Banking and Insurance Regulatory Commission at the end of 2019 [1] - The real estate sector is showing signs of stabilization, leading to more trust companies exploring market-oriented restructuring and introducing strategic investors [2]

Core Viewpoint - Huaxin Trust is moving towards a restructuring plan, with personal investors set to receive compensation through the acquisition of trust beneficiary rights by Dalian Anding, a newly established state-owned platform [1][2][6]. Group 1: Restructuring and Compensation Plan - Huaxin Trust announced that Dalian Anding will acquire eligible personal investors' trust beneficiary rights by September 25, 2023 [2]. - The compensation plan allows investors holding multiple trust products to sign a single transfer contract, and the minimum compensation ratio is set at 90% of the investors' holding amounts [3][6]. - The restructuring plan is contingent upon Huaxin Trust's application for bankruptcy reorganization, which, if successful, would allow the company to continue operating [4][6]. Group 2: Background and Financial Status - Huaxin Trust, established in 1981, is the only trust company in Liaoning Province, with a registered capital of 6.6 billion [7]. - The company was classified as one of the six high-risk trust companies by the former China Banking and Insurance Regulatory Commission in 2019, leading to a halt in its "pooling funds" business [7][8]. - As of the end of 2019, Huaxin Trust reported total assets of 12.376 billion, with trust assets under management amounting to 61.58 billion, primarily in real estate and financial institutions [9].