（一）信托业务，包括资产服务信托业务、资产管理信托业务、公益慈善信托业务。 经国家金融监督管理总局河南监管局批准，中原信托有限公司（以下简称"公司"）于2026年2月12日收 到新版《中华人民共和国金融许可证》。根据有关规定，现将公司新版金融许可证信息予以公告如下： 换领事由：业务范围变更 机构名称：中原信托有限公司 业务范围： （四）以固有资产从事股权投资业务，特定目的信托受托机构。 （五）国家金融监督管理总局批准的其他业务。 批准日期：1985年05月15日 机构住所：河南省郑州市郑东新区金融岛中环路10号 特此公告。 （二）固有资产负债业务，包括存放同业、同业拆借、贷款、投资、债券卖出回购，向股东及股东关联 方申请流动性支持借款、定向发债，向信托业保障基金公司申请流动性支持借款等。 （三）为金融机构及其管理的资产管理产品、资产服务信托、公益慈善信托等提供投资顾问、咨询、托 管及其他技术服务；为企业发行直接融资工具提供财务顾问、受托管理人等服务；为资产管理产品提供 代理销售服务。 机构编码：K0042H241010002 发证机关：国家金融监督管理总局河南监管局 后续公司将依法办理修订《公司章程》及经营范 ...

Core Viewpoint - The trust industry is undergoing a significant transformation with a wave of license renewals to comply with new regulatory requirements set by the "Trust Company Management Measures" effective from January 1, 2026 [3][5] Group 1: License Renewal - Multiple trust institutions, including Huabao Trust and Shanghai Trust, have successfully renewed their financial licenses in response to the new regulations [2][3] - Over ten institutions have announced successful license renewals since the beginning of the year, with some modifying their company charters accordingly [3] Group 2: Regulatory Changes - The new regulations redefine the business scope of trust companies to include asset service trusts, asset management trusts, and public welfare trusts, while also clarifying the addition and reduction of inherent business items [3][4] - The updated licenses reflect a shift from a broad range of services to a more focused approach, aligning with the new regulatory framework [4] Group 3: Industry Implications - The core aim of the new regulations is to refocus the role of trust companies as fiduciaries, moving away from previous practices of channel arbitrage and off-balance-sheet financing [5][6] - Enhanced governance and risk management requirements are introduced, including a minimum registered capital of 500 million RMB and the establishment of a chief compliance officer [5][6] - The cancellation of unrelated services and the prohibition of channel business and fund pools are expected to drive high-quality development and transformation within the industry [6]

Core Viewpoint - Huabao Trust Co., Ltd. has adjusted its business scope and obtained a new financial license on January 16, 2026, as per the regulations of the Banking and Insurance Institutions License Management Measures [1] Group 1: Company Information - Institution Name: Huabao Trust Co., Ltd. [1] - English Name: HWABAO TRUST CO.,LTD. [1] - Institution Address: 7th, 17th, and 25th Floors, 370 Pudian Road, Pudong New District, Shanghai [1] - Institution Code: K0023H231000001 [1] - Company Contact Number: 021-38506666 [1] Group 2: Business Scope - Trust business, including asset service trust, asset management trust, and public welfare trust [1] - Proprietary asset and liability business, including interbank deposits, interbank lending, loans, investments, bond repurchase, and liquidity support borrowing [1] - Investment advisory, consulting, custody, and other technical services for financial institutions and their managed asset management products [1] - Qualification as a trustee for specific purpose trusts [1] - Qualification for overseas wealth management business [1] - Qualification for stock index futures trading [1] - Other businesses approved by the National Financial Supervision Administration [1]

Group 1 - The company has completed the renewal of its financial license due to changes in its registered address and business scope, approved by the Hunan Regulatory Bureau of the National Financial Supervision Administration [1] - The company is named Hunan Chasing Trust Co., Ltd., and its business scope includes trust services, proprietary asset liability business, investment advisory services, and specific purpose trust agency services [2] - The company has updated its articles of association to reflect the change of address and has completed the registration of the address change with the Hunan Provincial Market Supervision Administration [3]

Core Viewpoint - Shandong International Trust Co., Ltd. has received a new financial license, effective from January 9, 2026, as per the National Financial Regulatory Administration's licensing information query platform [1]. Group 1: Company Information - The institution's name is Shandong International Trust Co., Ltd., with the institution code K0039H237010002 [3]. - The company is located at 2788 A Tower, Aoti West Road, Lixia District, Jinan City, Shandong Province, with a postal code of 250013 [3]. - The company was established on June 20, 2007, and the license was issued by the Shandong Bureau [3]. Group 2: Business Scope - The business scope includes trust services such as asset service trust, asset management trust, and public welfare trust [3]. - It also engages in proprietary asset liability business, including interbank deposits, interbank lending, loans, investments, and bond repurchase agreements [3]. - The company provides investment advisory, consulting, custody, and other technical services for financial institutions and their managed asset management products [3]. - It offers financial advisory and trustee management services for enterprises issuing direct financing instruments and provides agency sales services for asset management products [3].

Core Viewpoint - The National Financial Regulatory Administration has revised the "Measures for the Administration of Trust Companies," marking the first update since its implementation in 2007, aimed at enhancing governance, risk management, and operational rules within the trust industry to support high-quality development [1][4]. Regulatory Framework - The trust industry has seen a significant growth in asset scale, from less than 300 billion yuan in 2000 to 26.25 trillion yuan in 2017, but has faced a decline since 2018 due to over-reliance on financing and channel business [3]. - The revised measures are part of a broader regulatory upgrade, aligning with the "Guiding Opinions on Regulating Financial Institutions' Asset Management Business" and the "New Classification of Trust Business" [1][4]. Company Governance and Internal Control - The new measures emphasize corporate governance, integrating party leadership and shareholder responsibilities, and establishing a priority for beneficiaries' interests [5][6]. - Trust companies are required to develop a comprehensive internal control system and risk management framework, focusing on compliance and operational risk prevention [6]. Business Focus and Operations - The revised measures categorize trust business into three types: asset service trusts, asset management trusts, and public welfare trusts, while eliminating unrelated intermediary businesses [9][10]. - The measures maintain the loan function for trust companies, which is seen as beneficial for promoting inclusive finance and serving the real economy [9]. Regulatory Requirements and Risk Management - The measures detail administrative review processes, on-site inspections, risk monitoring, and early warning systems, establishing a dual mechanism of external regulation and internal constraints [11][12]. - Trust companies are held accountable for developing recovery and disposal plans, with clear conditions for shareholder dividend restrictions [12]. Implementation Timeline - The revised measures will take effect on January 1, 2026, with the regulatory authority monitoring compliance as part of its classification supervision [12].

Group 1: Financial Services Overview - China Oil Finance is a non-bank financial institution approved by the People's Bank of China, providing services such as payment and settlement, loans, foreign exchange trading, and financial chain services [2] - Kunlun Bank, approved by the former China Banking Regulatory Commission, primarily engages in public deposit acceptance, loan issuance, domestic and international settlement, and public securities investment fund sales [2] Group 2: Trust Business Development - Kunlun Trust focuses on three main categories: asset service trust, asset management trust, and public welfare trust, covering various services including equity investment and family trusts [3] - Future efforts will aim to enhance the proportion of actively managed trusts and increase the dividend ratio of equity investment trusts, while continuously seeking efficiency improvements and cost reductions [3] Group 3: Regulatory Impact - The revised "Management Measures for Financial Leasing Companies" by the National Financial Regulatory Administration in 2024 will positively impact Kunlun Financial Leasing [3] - Kunlun Financial Leasing has consistently adhered to regulatory requirements, and the new regulations will provide clearer guidelines for business operations, including enhanced risk management and business classification supervision [3]