Core Viewpoint - The trust industry is entering a new phase of transformation following the major revision of the "Trust Company Management Measures" after 18 years, with a focus on enhancing capabilities and adapting to new market demands [1][8]. Group 1: Industry Transformation - The trust industry is increasing its business layout in areas such as green finance, pension finance, and digital finance, with noticeable differentiation in inclusive finance [1]. - Trust companies are urged to strengthen their capabilities in trust culture and professional talent to achieve high-quality development during the transformation [1]. - The shift towards digitalization and collaboration with leading internet platforms is seen as a crucial direction for trust companies to enhance inclusive finance and stimulate consumption [1][3]. Group 2: Consumption Finance - After a low period post-Spring Festival, trust issuance has shown signs of recovery, with consumption finance becoming a significant support [2]. - In March, the issuance of trust products reached 2,772, a month-on-month increase of 32.51%, with a disclosed issuance scale of 151.12 billion yuan, up 57.41% [2]. - Trust companies are exploring new positioning in the consumption finance sector, leveraging digitalization to reach previously inaccessible consumer segments [3]. Group 3: Collaboration and Market Reach - Huaxin Trust's collaboration with Meituan has reached over 72 million users, focusing on small payment scenarios, with an average loan amount of only 45 yuan [4]. - Huaxin Trust's inclusive finance scale was approximately 50 billion yuan by the end of last year, with cumulative credit granted to 420 million individual clients and over 4.2 million small and micro enterprises [4]. Group 4: Regulatory Environment - The trust industry has been undergoing continuous reform under regulatory guidance, with a focus on returning to core business and addressing challenges such as client loss and declining profitability [4][8]. - Recent regulatory documents emphasize the importance of the trust industry in serving the real economy and propose a framework for high-quality development [8][9]. - The Financial Regulatory Administration plans to revise the "Trust Company Management Measures" again by 2025, indicating ongoing regulatory evolution [9]. Group 5: Market Participation - Trust companies are increasingly participating in the capital market, with the total scale of trust funds reaching 19.95 trillion yuan, of which over 8 trillion yuan is directed towards the securities market [6]. - Various trust companies are engaging in direct investments and private equity funds to facilitate the entry of long-term funds into the market [7]. - The industry is encouraged to enhance equity investment capabilities and develop long-term equity products to support capital market participation [6][7].

Core Viewpoint - Jilin Trust has achieved significant milestones in risk management and capital enhancement, positioning itself for future growth in the financial sector [1][2]. Group 1: Company Developments - Jilin Trust's chairman, Xing Zhongcheng, announced that in 2024, the company has strengthened its registered capital and successfully exited high-risk status with the support of provincial authorities [1]. - The company has declared 2024 as a milestone year, indicating that risks have been fully cleared and both regulatory and financial indicators have been optimized [1]. - Jilin Trust aims to focus on consumer finance as a key area for future development, with plans to enhance its internet loan systems [2]. Group 2: Strategic Initiatives - The company has set a comprehensive development goal for 2025, which includes six major strategic battles focusing on wealth management reform, securities investment trust, industrial finance, risk prevention, human resources reform, and work style transformation [2]. - Jilin Trust is actively collaborating with technology firms such as Juzi Digital Technology, Shanghai Jiayin Technology, and Guohai Technology to advance its internet finance initiatives [2][3]. - The company is leveraging regulatory guidance from the National Financial Regulatory Administration to enhance its inclusive finance services and improve operational efficiency [3].