Core Viewpoint - The restructuring of Anxin Trust (now Jianyuan Trust) is making progress in addressing historical issues, with recent developments in the transfer of beneficiary rights and settlements with financial institutions [1][6]. Group 1: Beneficiary Rights Transfer - Jianyuan Trust has successfully completed the first batch of beneficiary rights transfer payments to investors who opted for the forward plan, in accordance with the three-month contract agreement [1][6]. - The second batch of beneficiary rights transfer offers was initiated by Shanghai Weian Investment Management for individual investors who did not sign contracts during the specified period [4][5]. - Investors who chose the immediate plan also received their first batch of transfer payments as scheduled [5]. Group 2: Financial Performance - In Q1 2025, Jianyuan Trust reported total operating revenue of 67.95 million yuan, a year-on-year increase of 55.74%, and a net profit attributable to shareholders of 26.34 million yuan, up 27.56% from the previous year [6]. - For the year 2024, Jianyuan Trust achieved total operating revenue of 310 million yuan, a decrease of 7.15%, while net profit attributable to shareholders was 53.16 million yuan, an increase of 25.15% [6]. Group 3: Institutional Settlements - Jianyuan Trust has completed settlements with two institutions, one being the Shanghai branch of the Bank of China, resolving outstanding debts through asset transfers [7][8]. - The debt settlement agreement with the Bank of China involved the transfer of various asset rights, resulting in the full repayment of the outstanding debt [8][9]. Group 4: Project Developments - The Jianyuan Trust Dongjiadu project has seen significant investment from six institutional investors, including a 6 billion yuan investment from Citic Bank [10][11]. - Citic Bank has transferred its 6 billion yuan trust beneficiary rights in the Dongjiadu project to Greenland Holdings, with the transaction terms adjusted to extend the payment period and reduce the interest rate [13][15][16]. - A natural person investor in the Dongjiadu project remains optimistic about the underlying asset value despite current challenges in monetization [10]. Group 5: Legal Proceedings - A natural person investor in the Guizhou New Rural Project has initiated legal proceedings against Jianyuan Trust after a year of court mediation, marking the case's formal entry into litigation [17].

Core Insights - The company reported a total operating revenue of 11.288 billion yuan for 2024, representing a year-on-year growth of 3.6% [1] - The total profit reached 2.880 billion yuan, with a year-on-year increase of 24.98% [1] - The net profit attributable to shareholders was 1.574 billion yuan, up 15.39% year-on-year, indicating continuous optimization of profitability [1] - In Q1 2025, the company achieved total operating revenue of 2.218 billion yuan, a year-on-year growth of 8.65% [1] - The total profit for Q1 2025 was 1.060 billion yuan, showing a significant year-on-year increase of 44.33% [1] - The net profit attributable to shareholders in Q1 2025 was 604 million yuan, up 45.22% year-on-year, marking a strong start to the year [1] Business Segments - The trust business generated total revenue of 2.99 billion yuan in 2024, a year-on-year increase of 7.29%, with net profit reaching 1.776 billion yuan, up 10.63% [2] - The total assets of the trust business grew to 1.09 trillion yuan, reflecting a year-on-year increase of 32.8% [2] - The securities and futures business reported total revenue of 860 million yuan, a decline of 25.64%, while net profit increased by 64.43% to 176 million yuan [2] - The carbon asset business achieved operating revenue of 70.016 million yuan, growing 13.39% year-on-year, with net profit of 1.0405 million yuan, up 14.51% [2] - The electric equipment business realized operating revenue of 7.375 billion yuan, a year-on-year increase of 6.86%, with net profit of 149 million yuan, up 45.18% [2] Strategic Developments - The company made significant progress in green finance, with a "carbon assessment + finance" service model that helped energy and power enterprises secure green financing, nearly doubling in scale year-on-year [3] - New financial products such as "Electric Carbon Benefit Loan" and "Green Electricity Loan" were launched to meet diverse customer needs and enhance market competitiveness [3] - The company expects net profits attributable to shareholders for 2025, 2026, and 2027 to be 1.733 billion, 1.845 billion, and 1.996 billion yuan respectively, with corresponding EPS of 0.30, 0.32, and 0.34 [3] - The projected PE ratios for 2025, 2026, and 2027 are 16.36, 15.37, and 14.40 times respectively, indicating a favorable investment outlook [3]

南方财经全媒体记者 林汉垚 北京报道 2024年年底，国家金融监督管理总局北京监管局、北京市规划和自然资源委员会联合发布《关于做好不动产信托财产登记工作的通知(试行)》（以下简称 《通知》），推进北京市辖内信托机构规范开展不动产信托业务。 2025年4月2日，北京辖内国投泰康信托和中国外贸信托分别在通州区和昌平区的不动产登记中心进行了首次不动产信托财产登记。其中，国投泰康信托在北 京市通州区完成全国首单住宅类不动产信托财产转移登记（以下简称"通州案例"）。 在该项目中，委托人为70岁通州区居民田女士，受益人为委托人自闭症独子，受托人为国投泰康信托公司。该信托计划能够帮助田女士实现"生前养老照 护"与"身后守护子女"的目的。 林巍：首单北京市不动产信托财产登记"通州案例"是一单特殊需要信托，该信托委托人田女士是通州区一位70岁的单身母亲，受托人为国投泰康信托公司， 受益人是田女士40岁的儿子（自闭症患者）。信托的"特殊需要"属性源于受益人为残障人士，需长期生活保障。 信托财产是田女士现居住的通州区商业房产，属于当前试点中的"不动产信托"模式，即以房产作为信托资产的核心。信托目标分为两部分：在现阶段，为受 益人提 ...

Core Viewpoint - Jingu Trust, a subsidiary of China Cinda Asset Management, has achieved steady growth in 2024, with total revenue of 1.411 billion yuan and a profit of 742 million yuan, while adhering to its mission of supporting national strategies and enhancing the real economy [1] Group 1: Strategic Initiatives - Jingu Trust has implemented the "Five Major Articles" to align with national strategies, focusing on technology, green development, inclusive finance, elderly care, and digital economy [2][3][4] - The company has established various trust plans, including a 15 billion yuan green trust and a 5.05 million yuan rural revitalization trust, to support emerging industries and promote sustainable development [2][3] Group 2: Financial Services and Innovations - Jingu Trust has successfully launched a bankruptcy service trust with a scale of 13 billion yuan, enhancing its capabilities in managing special assets and providing professional services [5] - The company has also set up a 5.5 billion yuan trust to assist a small bank in resolving non-performing assets, demonstrating its role in stabilizing local economies [6] Group 3: Social Responsibility and Charitable Initiatives - The company has created the "Cinda Great Love" charitable trust brand, contributing over 80 million yuan to various regions, and has established innovative charitable trust models [8] - In 2024, Jingu Trust distributed 10.499 billion yuan in benefits to beneficiaries, emphasizing its commitment to maximizing the interests of its clients [8] Group 4: Future Outlook - Jingu Trust aims to continue its focus on the core functions of trust services, enhancing its professional capabilities and innovating business models to support high-quality economic development [9]

Company Overview - Lujiazui International Trust Co., Ltd. is a trust institution controlled by Shanghai Lujiazui Financial Development Co., Ltd. with a registered capital of 10.4 billion RMB [3] - The company was established in October 2003 and underwent several restructuring phases, with significant capital increases approved by the China Banking Regulatory Commission over the years, culminating in a registered capital of 10.4 billion RMB as of August 2022 [3][4] Business Operations - The company primarily engages in trust and proprietary business, with trust business categorized into various types including financing trust, securities investment trust, and asset management trust [14][15] - The company aims to enhance its core competitiveness through a "four modernization" strategy focusing on specialization, diversification, branding, and distinctive features [12][13] Market Analysis - The overall economic performance in China is projected to achieve around 5% growth in 2024, with a "V" shaped recovery anticipated due to various supportive policies [17][18] - The company faces challenges such as significant existing risks in the trust industry and the need for business transformation amidst increasing competition from other financial institutions [19][20] Risk Management - The company emphasizes a comprehensive risk management framework that includes credit, market, liquidity, operational, legal, policy, and reputational risks [33][35] - Specific measures for managing credit risk include thorough credit investigations and strict adherence to internal review processes [45] Social Responsibility - The company actively participates in public welfare and charity initiatives, providing financial support for rural revitalization projects and promoting green finance [50][51] - It has established a dedicated charity trust department to enhance its charitable activities and investor education efforts [51][52] Consumer Protection - The company has implemented a comprehensive consumer protection framework, ensuring that consumer rights are integrated into its business operations [54] - It has developed a consumer protection management system and actively engages in financial education to enhance consumer awareness [53][54]

Company Overview - China Foreign Economy and Trade Trust Co., Ltd. (FOTIC) is headquartered in Beijing and focuses on providing diversified high-quality trust services to support economic and social development [3][4] - The company has a total of 563 employees with an average age of 35.7 years, including 10 PhD holders (1.78%) and 370 master's degree holders (65.72%) [4] Governance and Management - The company emphasizes a governance structure that includes a shareholders' meeting, board of directors, independent directors, supervisory board, and senior management, ensuring clear responsibilities and effective internal control [13] - The company has established a comprehensive risk management system, focusing on compliance and risk control to maintain overall risk levels within acceptable limits [15] Business Strategy - The company aims to enhance its trust services by focusing on asset service trusts, asset management trusts, and public welfare trusts, aligning with national policies and market demands [6][8] - The strategic planning is guided by Xi Jinping's thoughts on socialism with Chinese characteristics, aiming for high-quality development in the trust industry [6] Market Analysis - Favorable factors for the company's development include supportive government policies aimed at economic recovery, increased domestic demand, and the promotion of technological innovation [11] - Challenges include a complex international environment, insufficient effective demand, and heightened competition among asset management institutions [12] Risk Management - The company has a robust risk management framework that includes credit risk, market risk, operational risk, liquidity risk, and legal compliance risk, ensuring that all risks are monitored and managed effectively [14][15][16][17][19][20][21] - The company actively engages in anti-money laundering efforts and enhances its information technology risk management to safeguard its operations [21] Financial Performance - The company has received a standard unqualified audit opinion from Tianzhi International Accounting Firm for its financial reports, indicating a fair representation of its financial status [23] - The financial statements reflect the company's commitment to transparency and adherence to accounting standards [23][24]

Company Overview - The company is named Anhui Guoyuan Trust Co., Ltd, with its legal representative being Xu Zhi [3][4] - The registered address is located in Hefei, Anhui Province, China [3] Governance Structure - As of the end of the reporting period, the total number of shareholders is 8, with the top three being Anhui Guoyuan Financial Holding Group Co., Ltd, China State Construction Capital Holdings Limited, and Anhui Wan Investment Management Co., Ltd [5] - The company has established a governance structure that includes a board of directors, a supervisory board, and senior management [5] Business Strategy - The company's operational philosophy emphasizes "lawful compliance and prudent operation," aiming to enhance core competitiveness while supporting the real economy and local development [6] - The long-term strategic goal is to become a leading trust financial institution rooted in local areas and serving a wide range of social investors [6] Business Operations - The main business segments include trust business and proprietary business, with trust business covering asset service trusts, asset management trusts, and charitable trusts [7] - The company aims to improve its business structure and asset allocation while focusing on risk management and innovation [6][7] Market Analysis - In 2024, China's GDP reached 134.9 trillion yuan, with a year-on-year growth of 5.0%, driven by strong performance in the equipment manufacturing and high-tech sectors [8] - The financial system in China has maintained stability, with monetary policy shifting towards moderate easing, resulting in historically low enterprise loan rates [9] Factors Affecting Business Development - Favorable factors include policy support, the growth of domestic wealth, and the company's strong asset quality [10] - Unfavorable factors include global economic slowdown and intense competition in the asset service trust market [12] Internal Control - The company has established a comprehensive internal control system involving various governance bodies to enhance operational management and risk prevention [13] - Continuous improvement of internal control measures has been implemented, including the establishment of new regulations and the enhancement of communication mechanisms [14][16] Risk Management - The company has developed a risk management framework that includes identifying, measuring, and controlling potential risks [22] - Specific measures are in place to manage credit risk, market risk, liquidity risk, and operational risk [23][24][25][26] Capital Management - As of the end of 2024, the company's net assets amounted to 1,069,194.67 thousand yuan, with net capital at 804,794.80 thousand yuan, exceeding regulatory standards [29]

Company Overview - Zhonghai Trust Co., Ltd. is a state-owned non-bank financial institution jointly established by China National Offshore Oil Corporation (CNOOC) and CITIC Limited [3] - The company was founded in July 1988 and has undergone several name changes and capital increases, with the current registered capital being RMB 2.5 billion [5][7] - As of the end of 2024, the company managed trust assets totaling RMB 132.378 billion, with an annual cumulative management scale of RMB 289.75 billion [8] Financial Performance - In 2024, the company achieved operating income of RMB 1.474 billion and a net profit of RMB 338 million, with a per capita net profit of RMB 1.4015 million [8] - The total assets of the company reached RMB 7.799 billion, with net assets of RMB 6.206 billion and net capital of RMB 5.247 billion by the end of 2024 [28] Governance Structure - The company has two shareholders: CNOOC and CITIC Limited, with a total share count of 2.5 billion shares [9] - The sixth board of directors was elected on October 25, 2024, with the chairman being Zhu Xinqiao [11] Business Strategy - The company aims to serve the real economy and CNOOC's main business, focusing on risk prevention and high-quality development [14] - The strategic plan emphasizes risk control, innovation, and service to the main business, aligning with CNOOC's development strategies [14] Business Operations - The company is authorized to conduct trust business and proprietary business, including trust loans, credit asset securitization, and private equity funds [14] - The company has established a comprehensive risk management system and focuses on three main business areas: standard product trusts, supply chain finance, and industrial finance [17] Market Analysis - The company benefits from a strong brand image and a loyal customer base, supported by CNOOC's financial strength [17] - The company faces challenges from economic restructuring, market fluctuations, and intensified competition within the financial industry [18] Risk Management - The company has a robust risk control framework, emphasizing compliance and risk prevention as core principles [26] - Credit risk management includes establishing a credit risk governance structure and optimizing risk control processes [33] - The company has not reported any direct or indirect losses due to operational risks in 2024 [31]

1.2 独立董事袁东生、熊焰、朱青、鲍治认为本年度报告真实、准确、完整。 1.3中审亚太会计师事务所（特殊普通合伙）对本公司二〇二四年度财务会计报告出具了标准无保留意 见的审计报告。 1.4公司董事长吴庆斌、总裁胡杰、主管会计工作负责人杨红及财务会计部负责人隋新声明：保证年度 报告中财务会计报告的真实、完整。 二、公司概况 2.1公司简介 登录新浪财经APP 搜索【信披】查看更多考评等级 一、重要提示 1.1本公司董事会及董事保证本报告所载资料不存在任何虚假记载、误导性陈述或者重大遗漏，并对其 内容的真实性、准确性和完整性承担个别及连带责任。本年度报告摘要摘自年度报告全文，客户及相关 利益人欲了解详细内容，应阅读年度报告全文。 1、公司的法定中文名称：中泰信托有限责任公司 公司的法定英文名称：ZHONGTAI TRUST CO., LTD. 2、法定代表人：吴庆斌 3、注册地址：上海市黄浦区北京东路666号F区（西座）32层和33层 4、邮政编码：200001 联系电话：021-63872058；传真：021-63872700 电子信箱：zhaofengying@zhongtaitrust.com 8、公司选 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 1．重要提示 1.1本公司董事会及董事保证本报告所载资料不存在任何虚假记载、误导性陈述或者重大遗漏，并对其 内容的真实性、准确性和完整性承担个别及连带责任。 1.2本公司未有董事对年度报告内容的真实性、准确性、完整性无法保证或存在异议。 1.3公司独立董事刘普、戴维声明：保证年度报告内容的真实性、准确性、完整性。 1.4执行本公司审计的会计师事务所对公司出具无保留意见的审计报告。 1.5公司董事长吴映江、总经理及财务负责人徐永乐声明：保证本年度财务报告的真实、完整。 2．公司概况 2020年8月11日，经中国银保监会新疆监管局批复同意，天瑞集团股份有限公司（以下简称"天瑞集 团"）受让了兵团国资所持有长城信托35%的股权，并于8月27日办理完成了相关工商变更登记。 2.1.1公司法定名称 公司中文名称：长城新盛信托有限责任公司； 公司英文名称：GREATWALL XINSHENG TRUST CO.，LTD.； 2.1公司简介 长城新盛信托有限责任公司（以下简称"长城信托"）是在重组原伊犁哈萨克自治州信托投资公司基础上 设立。伊犁哈萨克自治州信托投资公司设立于 ...