Core Viewpoint - Citic Bank plans to sign an authorization management agreement with its controlling shareholder, Citic Group, to manage 60% of Huarong Financial Leasing's shares for three years, with an annual management fee of 5 million RMB [1] Company Summary - Huarong Financial Leasing, one of China's first financial leasing companies, has shown positive performance indicators, achieving revenue of 6.42 billion RMB and a net profit of 1.5 billion RMB in 2024, with a total asset scale of 158.915 billion RMB, reflecting a 13.83% increase from the previous year [2] - In the first half of 2025, Huarong Financial Leasing reported a net profit exceeding 900 million RMB and revenue over 3.6 billion RMB, marking year-on-year growth of 17.14% and 14.28% respectively [2] Industry Summary - The financial leasing industry has seen limited equity transfer activities this year, with only four companies experiencing changes in ownership as of August 26 [2] - Recent regulatory changes, including the revised "Management Measures for Financial Leasing Companies," require major shareholders to hold at least 51% of the total equity, up from the previous 30%, which may influence future equity adjustments in the industry [6]