Core Viewpoint - The report highlights Shanghai International Trust Co., Ltd.'s commitment to high-quality development, innovation in financial services, and robust risk management practices in a challenging economic environment. Company Overview - Shanghai International Trust Co., Ltd. was established in 1981 with a registered capital of RMB 5 billion, focusing on product innovation and various financial services [2][3]. - The company has received high credit ratings from Moody's (Baa2) and S&P (BBB-) and has been recognized as a systemically important trust company in China [1][2]. Governance Structure - The company has a well-defined governance structure with a board of directors and supervisory board, ensuring accountability and compliance with regulatory standards [5][6]. - The seventh board of directors was elected on December 9, 2024, with Zhang Baoquan appointed as the chairman [5][6]. Business Strategy - The company aims to adapt to economic changes by enhancing its trust functions, implementing a digital strategy, and fostering collaboration with Shanghai Pudong Development Bank [8][9]. - The strategic plan focuses on developing asset management and wealth management services while optimizing business structures and enhancing risk management [9][10]. Main Business Operations - The primary business operations include trust services and proprietary business, with various trust products such as financial product trusts, real estate financial trusts, and equity investment trusts [10][11]. - The proprietary business encompasses fixed income, equity investments, and securities investments, targeting growth sectors like high-end manufacturing and digital economy [13]. Market Analysis - In 2024, China's GDP is projected to grow by 5.0%, with industrial output and fixed asset investment showing positive trends despite challenges in the real estate sector [16]. - The trust industry is experiencing steady growth, with total trust assets reaching RMB 27 trillion by Q2 2024, reflecting a continuous upward trend [17]. Risk Management - The company employs a comprehensive risk management framework addressing credit, market, operational, and other risks, ensuring effective monitoring and mitigation strategies [25][27][28]. - Specific measures include project review meetings for credit risk, market risk management through asset valuation, and operational risk management via standardized procedures [26][27][28]. Corporate Social Responsibility - The company actively engages in social responsibility initiatives, supporting small and micro enterprises, environmental protection, and community development, with a focus on green finance [35]. - As of the end of 2024, the company has provided approximately RMB 5.5 billion in services to the real economy, with significant investments in the Yangtze River Delta region [35].