Core Points - The company announced a cash dividend distribution plan for the first half of 2025, proposing a payout of 0.10 yuan (after tax) for every 10 shares held [1] - The record date for shareholders to be eligible for the dividend is set for October 21, 2025, with the ex-dividend date on October 22, 2025 [1] - The total share capital of the company before the dividend distribution is 5.114 billion shares, and the total share capital will remain unchanged after the distribution [1]

Core Viewpoint - Northern Trust has successfully implemented the "Revitalization. Tianchen No. 1" real estate service trust, addressing the challenges of integrating scattered real estate resources held by state-owned enterprises, thereby enhancing the overall operational efficiency of state assets [1][2]. Group 1: Project Overview - The project is commissioned by Tianjin Chenkai New Energy Property Management Co., Ltd., a wholly-owned subsidiary of the North Bin Development Zone Management Committee, which holds multiple commercial real estate properties across different administrative districts in Tianjin [1]. - The trust structure allows for the phased delivery of trust assets, focusing on the dual advantages of the trust system, including risk isolation and professional management [2]. Group 2: Benefits and Innovations - The trust structure creates a robust risk firewall by legally isolating the trust assets from the client's other assets, mitigating potential asset risks due to operational or external changes [2]. - Northern Trust has established a unified asset management platform, enhancing the overall revenue capability of the asset portfolio through professional management and lifecycle management [2]. Group 3: Future Implications - The successful implementation of this model serves as a replicable and scalable framework for managing similar scattered assets, enhancing the company's capabilities in asset service trusts [3]. - This model exemplifies the practical path for trust services to contribute to the "Three Quantities" work, transforming static, scattered assets into efficient, liquid development increments, thus injecting new financial vitality into the construction of a modern socialist metropolis in Tianjin [3].

齐鲁晚报·齐鲁壹点 王赟 卸任董事长职务后，潘卫东仍担任上海信托法定代表人。去年5月初业内有消息称"上海信托董事长或将 变动，浦发银行总行风险业务总监兼风险管理部总经理张宝全将接任这一职位"。不过，浦发银行2025 年半年报显示，张宝全的任职已调整为上海信托副董事长，任职资格待监管核准。 此次崔炳文担任上海信托董事、董事长的任职资格获批，意味着上海信托新董事长正式落定。 其实，自新修订《信托公司管理办法》（2025年9月11日由国家金融监督管理总局公布，这是自2007年 发布以来的首次重大修订，2026年1月1日起施行）发布以来，信托行业人事"洗牌"不断，9月下旬起多 家信托公司高管密集变动。 其中最引人关注的是9月16日至19日单周内，金融监管总局地方局相继批复了四家头部或特色信托公司 的董事长、总经理任职资格，包括中信信托、平安信托、国投泰康信托及陆家嘴信托，这一周也被不少 信托从业者称为"最密集人事变动周"。 而且，就在同一天，中信信托与平安信托董事长任职资格公告发布。 10月13日，国家金融监督管理总局上海监管局官网公布相关批复，核准崔炳文上海国际信托有限公司董 事、董事长的任职资格。据了解，上海信托 ...

Core Viewpoint - The appointment of Cui Bingwen as the chairman of Shanghai International Trust has been approved, marking a significant leadership change in the company, which is one of the earliest established trust companies in China [1][2]. Company Overview - Shanghai International Trust was founded in 1981 and has a registered capital of RMB 5 billion. The company is primarily owned by Shanghai Pudong Development Bank, which holds a 97.3333% stake [2]. - The company focuses on asset management and wealth management services for high-net-worth clients, covering areas such as equity and debt financing, securities investment, alternative investments, and family trusts [3]. Leadership Background - Cui Bingwen, the newly appointed chairman, is currently a member of the Party Committee and vice president of Shanghai Pudong Development Bank. He has held various leadership roles in the banking sector, including positions at the Industrial and Commercial Bank of China [3]. Financial Performance - According to the financial report released in April, Shanghai International Trust reported a revenue of RMB 1.852 billion for the previous year, a decrease of 77.25% year-on-year, with a net profit of RMB 669 million, down 82.56% [3]. Strategic Transformation - The company is accelerating its transformation in response to a complex economic environment, focusing on enhancing policy research and risk assessment capabilities while prudently controlling the scale of financing-related businesses and reducing exposure to real estate and government financing platforms [3]. Industry Context - The trust industry is undergoing significant personnel changes and restructuring, with multiple high-level appointments across various trust companies since the introduction of the new "Trust Company Management Measures" [4]. - The new regulations aim to refocus the industry on its core mission of fiduciary responsibility, emphasizing risk management and operational compliance [4].

Core Viewpoint - The announcement highlights the fair value changes of trading financial assets for Fangda Special Steel Technology Co., Ltd. in the third quarter of 2025, primarily driven by the performance of Sunshine Insurance's H-shares, which significantly impacted the company's net profit [4][5]. Group 1: Overview of Trading Financial Assets - Fangda Special Steel decided to use up to 430 million RMB of idle funds for entrusted wealth management with CITIC Trust, focusing on investing in Sunshine Insurance's H-shares [2][3]. - The trust project, established under the contract signed with CITIC Trust, allocated 4.3 billion RMB, with 1% reserved for trust operation funds, while the remaining funds were used to purchase 78.72 million shares of Sunshine Insurance at a price of 5.83 HKD per share [3]. Group 2: Fair Value Changes in Q3 2025 - In Q3 2025, the price of Sunshine Insurance's H-shares increased from 3.25 HKD per share on June 30, 2025, to 3.84 HKD per share on September 30, 2025, leading to a net value change of the trust product [4]. - The estimated fair value change loss for trading financial assets in Q3 2025 was approximately 64.19 million RMB, accounting for 25.90% of the net profit attributable to shareholders for 2024, indicating a significant impact on the company's financial performance [4]. Group 3: Additional Notes - The company acknowledges the uncertainty of future returns from securities investments and entrusted wealth management products due to market volatility, and will reassess the fair value periodically [5]. - The fair value changes will be recorded as non-recurring gains and losses, not affecting the net profit attributable to shareholders after excluding non-recurring items [5].

记者注意到，今年7月份，崔炳文以浦发银行党委委员、副行长身份出席上海国际信托2025年中工作会 议暨党建工作会议，他在会上对上海国际信托未来发展提出三方面要求。 公开资料显示，崔炳文是一位"银行系"老将，现任浦发银行党委委员、副行长，总法律顾问。他曾任中 国工商银行天津分行津西支行副行长、东丽支行副行长（主持工作）；在浦发银行的任职资历更为深 厚，职业路径包括：天津分行人力资源部负责人、公司金融部总经理，天津分行党组成员、行长助理， 天津分行党委委员、副行长，天津分行党委书记、行长，北京分行党委书记、行长兼总行集团客户部总 经理、总行金融市场部（北京）总经理。 上海国际信托成立于1981年，是国内最早成立的信托公司之一，公司注册资本为人民币50亿元。该公司 主要从事资产管理、家族及财富管理业务，为高净值客户提供专业的理财方案与服务，业务领域主要涵 盖股权债权融资、证券投资、另类投资、工商受托、公益信托、投行服务、家族传承等范围。 从股权结构来看，浦发银行是上海国际信托最大股东，持股比例达97.33%。此外，上海汽车集团股权 投资有限公司和上海新黄浦实业集团股份有限公司分别持股2%和0.67%。 截至2024年 ...

【导读】上海信托董事长崔炳文任职资格获批，此前系浦发银行副行长 10月13日，国家金融监督管理总局上海监管局批复公告称，核准崔炳文上海国际信托有限公司（以下简称上海信托）董事、董事长的任职资格。这意味着 上海信托董事长正式落定。 | 2025. 女演 | | --- | | 1 /2 0 0000 10 | | 泉剛 | 随着崔炳文获批为上海信托董事长，这也意味着时隔逾两年后，该信托正式迎来新"掌舵人"。据悉，上海信托原董事长为潘卫东，其自2008年6月起担任 该职务，并于2022年12月经上海信托董事会审议，同意其不再担任该信托董事长、战略委员会主任委员等职务。 今年7月，在上海信托召开的2025年中工作会议暨党建工作会议上，崔炳文作为浦发银行副行长出席会议。会上，他明确提出未来上海信托的三大目标， 提出上海信托要助力高质量发展、与母行融合发展，同时，进一步提升自身盈利能力和经营水平，打造独具信托特色的业务和服务，为上海国际金融中心 建设添砖加瓦。 据悉，上海信托的新任董事长崔炳文是一名银行"老将"，拥有丰富的金融行业经验，此前曾任浦发银行党委委员、副行长、总法律顾问。 公开资料显示，崔炳文，男，1969年 ...

Core Viewpoint - The approval of Cui Bingwen as the chairman of Shanghai International Trust marks a significant leadership change after over two years, aiming to enhance the company's operational capabilities and contribute to the development of Shanghai as an international financial center [1][5]. Group 1: Leadership Change - Cui Bingwen has been approved as the chairman of Shanghai International Trust, previously serving as the vice president of Shanghai Pudong Development Bank [1][5]. - This leadership transition follows the departure of former chairman Pan Weidong, who held the position since June 2008 and stepped down in December 2022 [5]. Group 2: Background of New Chairman - Cui Bingwen, born in 1969, holds a doctoral degree and is a senior economist with extensive experience in the banking sector [5]. - His previous roles include various leadership positions at Industrial and Commercial Bank of China and Shanghai Pudong Development Bank, showcasing a strong background in financial management [5]. Group 3: Strategic Goals - At a recent meeting, Cui outlined three main objectives for Shanghai Trust: to support high-quality development, integrate with its parent bank, and enhance profitability and operational standards [5]. - The company aims to develop unique trust services and contribute to the construction of Shanghai as an international financial hub [5]. Group 4: Company Overview - Shanghai Trust, established in 1981, is one of the earliest trust companies in China, with a registered capital of 5 billion yuan [6]. - The company specializes in asset management and wealth management services, catering to high-net-worth clients with a comprehensive range of financial products [6]. Group 5: Financial Performance - In the first half of this year, Shanghai Trust reported revenues of 1.115 billion yuan, reflecting a year-on-year growth of 39.77% [7]. - The net profit for the same period was 488 million yuan, showing a year-on-year increase of 27.64% [7].

【 导读 】上海信托董事长崔炳文任职资格获批，此前系浦发银行副行长 中国基金报记者 马嘉昕 10 月 13 日，国家金融监督管理总局上海监管局批复公告称，核准崔炳文上海国际信托有限 公司（以下简称上海信托）董事、董事长的任职资格。这意味着上海信托董事长正式落定。 今年 7 月，在上海信托召开的 2025 年中工作会议暨党建工作会议上，崔炳文作为浦发银行 副行长出席会议。会上，他明确提出未来上海信托的三大目标，提出上海信托要助力高质量 发展、与母行融合发展，同时，进一步提升自身盈利能力和经营水平，打造独具信托特色的 业务和服务，为上海国际金融中心建设添砖加瓦。 据官网资料，上海信托成立于 1981 年，是国内最早成立的信托公司之一，注册资本为 50 亿元，主要从事资产管理、家族及财富管理业务，为高净值客户提供专业的理财方案与服 务，业务领域主要涵盖股权债权融资、证券投资、另类投资、工商受托、公益信托、投行服 务、家族传承等，是目前国内信托行业业务品种齐全、产品服务体系完备的专业投资机构之 一。 从股权结构来看，浦发银行是上海信托最大股东，持股比例为 97.3333% ，此外，上海汽车 集团股权投资有限公司持股比 ...

Core Viewpoint - The approval of Cui Bingwen as the chairman of Shanghai International Trust Company marks a significant leadership change in the company, which is undergoing a transformation to adapt to the evolving financial landscape and regulatory environment [1][2]. Company Overview - Shanghai International Trust, established in 1981, is one of the earliest trust companies in China with a registered capital of RMB 5 billion. The company is primarily owned by Shanghai Pudong Development Bank, holding 97.3333% of the shares [1]. - The company specializes in asset management and wealth management services for high-net-worth clients, offering a comprehensive range of products including equity and debt financing, securities investment, alternative investments, and family legacy services [1]. Leadership Changes - Cui Bingwen, currently a member of the Party Committee and Vice President of Shanghai Pudong Development Bank, has been approved to take on the role of chairman at Shanghai Trust. His previous roles include various leadership positions within the bank [1][2]. - The company had previously indicated a potential leadership change, with Zhang Baoquan being considered for the chairman position, but the recent approval confirms Cui's appointment [2]. Financial Performance - In the latest financial report, Shanghai Trust reported a significant decline in revenue, with operating income of RMB 1.852 billion, down 77.25% year-on-year, and a net profit of RMB 669 million, down 86.49% year-on-year [2]. - The trust asset management scale reached RMB 956.823 billion by the end of 2024, reflecting an 82.9% increase from the beginning of the year. The company reported non-performing assets of RMB 55.5 million, with a non-performing asset ratio of 2.48%, a decrease of 1.15 percentage points from the start of the year [2]. Industry Context - The trust industry is currently experiencing significant personnel changes and a restructuring of development paths, with many companies focusing on retail transformation, risk management, and collaboration with securities firms [3][5]. - The new "Trust Company Management Measures" introduced by the regulatory authority emphasizes the core role of trust companies in asset management and risk control, aiming to return to the fundamental principle of "trustee responsibility" [4][5].