来源：金融时报 近日，华信信托破产重整事宜接连传来两则消息，表明这家老牌信托机构的风险处置工作正沿着法治化 路径稳步推进。 1月28日，华信信托官网率先转发了辽宁省大连市中级人民法院的公告，明确了其破产重整案第一次债 权人会议的具体安排。记者梳理公告内容发现，依据《中华人民共和国企业破产法》及相关司法解释， 大连中院已敲定，将于2026年2月13日通过全国企业破产重整案件信息网，以线上形式召开这次债权人 会议，依法申报债权的债权人有权参加本次债权人会议。 "此次召开第一次债权人会议，是依托法治化路径梳理债权债务关系的关键节点，而后续无论是战略投 资者的遴选引入，还是债权清偿方案的制定落地，均需在保障债权人合法权益与恢复机构持续经营能力 两大核心目标之间精准把握平衡，实现多方利益的统筹兼顾。"用益信托研究员帅国让表示。 作为辽宁省唯一一家信托公司，华信信托成立于1981年，其风险化解之路至今历时约6年。直到2025 年，该公司风险处置迎来突破性进展。 时间回溯到2025年1月，华信信托与持有该公司华冠系列、华悦系列以及悦盈稳健增长72号定向发行部 分信托计划的受益人签署《协议书》，约定在双方签署后7个工作日内向 ...

Core Viewpoint - The trust industry is crucial for the financial system and the economy, facing challenges due to governance failures and imbalanced business models, leading to increased risks and the need for regulatory intervention [2] Group 1: Regulatory Actions and Risk Management - The Financial Regulatory Bureau issued opinions to strengthen supervision and manage risks in the trust industry, emphasizing the orderly handling of high-risk trust companies [2] - A year after the issuance of the opinions, significant progress has been made in the disposal of high-risk institutions like Sichuan Trust and Huaxin Trust, indicating a shift in the industry towards risk clearance and transformation [3][4] Group 2: Case Studies of High-Risk Company Resolutions - Huaxin Trust, established in 1981, has undergone a five-year risk resolution process, culminating in a key agreement in January 2025 to pay beneficiaries, with a 95.5% signing rate by September 2025, leading to its entry into bankruptcy proceedings by November 2025 [4] - Sichuan Trust, founded in 2010, completed its risk disposal in March 2025, retaining its trust license and transitioning to a state-owned enterprise by changing its major shareholder to a state-owned investment group [5] Group 3: Industry Transformation and Development - The resolution of high-risk institutions marks the beginning of a transformation phase for the trust industry, with companies like Jianyuan Trust and Xingbao Trust showing improved financial performance and stability [6] - The trust industry is shifting from traditional financing roles to asset management and service-oriented models, with trust assets reaching 32.43 trillion yuan by mid-2025, a 20.11% increase year-on-year [6] - New business avenues are emerging, including real estate and equity trust registrations, which facilitate the development of wealth management services [7] Group 4: Challenges Ahead - Despite progress, the trust industry faces ongoing challenges such as risk management, business model transformation, and regulatory compliance, which will require strategic adaptation and innovation [7]

Core Viewpoint - The approval for Huaxin Trust Co., Ltd. to enter bankruptcy proceedings marks a significant event in the orderly resolution of risks within the trust industry, reflecting the challenges faced by the company and the broader sector [1][2]. Summary of Huaxin Trust's Risk Resolution - Huaxin Trust was established in 1981 and became one of the first trust investment companies in Northeast China in 2001, but its latest financial data is from 2019 [2]. - The company faced significant governance and operational issues, leading to regulatory scrutiny and the initiation of risk resolution efforts starting in 2021 [2][3]. - In 2023, Huaxin Trust made progress in its risk resolution, including agreements with beneficiaries for payment and a significant transfer of trust beneficiary rights to Dalian Anding Company, achieving a 95.5% signing rate with 3,004 individual investors [3]. Industry Context - Huaxin Trust is not an isolated case; three licensed trust institutions in China have undergone bankruptcy proceedings, including Xinhua Trust and Sichuan Trust, which recently restructured and resumed operations [4][5]. - The trust industry is undergoing a transformation, with regulatory measures aimed at preventing systemic risks and improving asset quality as high-risk companies are gradually resolved [5][6]. - The risk resolution process is fostering a competitive environment where stronger institutions are better positioned, while providing valuable lessons for smaller local trust companies on risk management and compliance [6].