Core Viewpoint - The trust industry is focusing on returning to its roots, serving the real economy and people's well-being, and transitioning towards high-quality development during the "14th Five-Year Plan" period [1][6]. Group 1: Strategic Positioning and Business Transformation - The core strategic positioning of the company during the "14th Five-Year Plan" is to adhere to the essence of trust, serving the real economy and people's welfare, and fully transitioning to high-quality development [1]. - The strategic focus has fundamentally shifted from financing-related businesses, such as real estate and government financing, to developing wealth management, asset management, and social governance services [1][2]. - The development goal has changed from pursuing scale expansion to seeking quality and sustainable growth [1]. Group 2: Business Data and Performance - By the end of the "14th Five-Year Plan," the company expects its business scale to reach 1.3 trillion yuan, with significant growth in areas like securities trust exceeding 700 billion yuan and active management asset management trusts reaching 200 billion yuan [2]. - The net assets of the company have increased from 6.7 billion yuan in 2015 to 25 billion yuan [2]. Group 3: Response to Regulatory Changes - The company has proactively adapted to the "three-category" new regulations by forward-looking layout and active restructuring, focusing on professional capabilities to align with regulatory guidance [2]. - The company pioneered family trusts in 2014 and launched family service trusts in 2021, achieving the highest market share in this area [2]. Group 4: Social Impact and Community Engagement - In rural revitalization, the company emphasizes "investing in people" by establishing charitable trusts and providing training for local officials, enhancing governance capabilities [3]. - In the elderly care sector, the company has developed unique trust accounts to address issues related to wealth inheritance and care for the elderly [3]. Group 5: Green Transformation and Differentiation - The company aims to build a differentiated advantage in green trust development by utilizing the broad investment characteristics of trust systems and developing various green financial tools [4][5]. - Challenges in green trust include the mismatch between long-term funding needs of green projects and the market's short-term capital preferences [5]. Group 6: Future Outlook and Strategic Focus - Looking ahead to the "15th Five-Year Plan," the company will focus on deepening efforts in technology finance, green finance, inclusive finance, elderly finance, and digital finance [5]. - The company has made substantial investments in major technology innovation funds, with a total investment scale of nearly 40 billion yuan [5]. Group 7: Industry Development and Challenges - The trust industry is expected to enter a new phase of high-quality development characterized by greater regulation, transparency, and sustainability [6]. - The industry faces higher demands for professional capabilities, risk control, product innovation, and differentiated services [6].

Core Viewpoint - The trust industry has made significant progress in aligning with the goals of serving the real economy and enhancing people's livelihoods during the "14th Five-Year Plan" period, focusing on the transformation of asset services, asset management, and charitable trusts [1] Group 1: Strategic Positioning and Transformation - During the "14th Five-Year Plan," the company's core strategic positioning is to adhere to the essence of trust, serving the real economy and people's well-being, and fully transitioning to high-quality development [2] - The strategic focus has fundamentally shifted from financing-related businesses, such as real estate and government financing, to developing wealth management, asset management, and social governance services [2] - By the end of the "14th Five-Year Plan," the company aims for a business scale of 1.3 trillion yuan, with significant growth in securities trust, asset management trusts, and wealth management accounts [2] Group 2: Response to Regulatory Changes - The company has proactively adapted to the "three-category" regulatory changes by focusing on forward-looking layouts and actively reshaping its business model [3] - The company pioneered family trusts in 2014 and launched family service trusts in 2021, achieving the highest market share in this sector [3] Group 3: Contributions to Social Welfare - In rural revitalization, the company emphasizes "investing in people" by providing training for local officials, enhancing governance capabilities in various regions [4] - In the elderly care sector, the company has developed unique trust accounts to address issues related to wealth inheritance and care for the elderly [4] Group 4: Green Transformation and Challenges - The company aims to build a differentiated advantage in green trusts by utilizing the flexibility of trust structures to support green industries through various financial instruments [5] - Challenges in green trusts include the mismatch between the long-term funding needs of green projects and the market's short-term funding preferences [6] Group 5: Future Development Directions - Looking ahead to the "15th Five-Year Plan," the company will focus on deepening its efforts in technology finance, green finance, inclusive finance, elderly finance, and digital finance [7] - The company has made substantial investments in major technology innovation funds and aims to enhance its professional research capabilities and risk control systems [8]

Core Insights - Shanghai Trust, a key member of SPDB, has been serving national strategies and the real economy since its establishment in 1981, and is now a leader in family service trusts in China [1][2] Group 1: Wealth Management and Trust Services - China has become the world's second-largest wealth management and asset management market, shifting the focus from availability to quality in wealth management services [1] - Shanghai Trust has accumulated approximately 2,000 family service trust cases, with a total scale of about 3 billion yuan, ranking first in market share nationwide [1] - The company has launched the first "cash + real estate" family service trust in the country, broadening access to trust services for ordinary families [2][3] Group 2: Innovation in Trust Products - Shanghai Trust is actively innovating in various trust areas, including real estate trusts, special needs trusts, elderly care trusts, and intellectual property trusts [2] - The company has developed a unique elderly care service trust account to address issues related to wealth transfer and care for the elderly [3] - A special needs trust has been established to provide comprehensive services for vulnerable groups, integrating various assets and social resources [3] Group 3: Support for Innovation and Consumer Protection - Shanghai Trust has collaborated with local institutions to create the first corporate-operated intellectual property service trust, enhancing clinical innovation and commercialization [4] - The company has introduced a prepaid funds service trust to manage consumer prepaid funds, ensuring financial separation and protection against merchant insolvency [6][7] - The risk disposal service trust, established to address project crises, has a scale exceeding 4 billion yuan, demonstrating the company's commitment to safeguarding creditor rights [7]