COFCO CAPITAL(SZ:002423)2022-12-04 09:50Group 1: Company Overview - China Grain Capital's financial business has evolved significantly, particularly after the mixed-ownership reform in 2017 and the major asset restructuring in 2019 [2][3] - In 2019, the company achieved total revenue of CNY 11.258 billion, a year-on-year increase of 16.31%, and a net profit attributable to shareholders of CNY 0.652 billion, up 27.88% year-on-year [3] Group 2: Subsidiary Performance - Zhongying Life Insurance's premium income approached CNY 10 billion in 2019, marking its entry into the mid-sized life insurance company category, with key operational indicators reaching new highs [4] - Zhongying Life Insurance has maintained a strong solvency level and has adopted a dual-driven model to mitigate low-interest rate risks [4] Group 3: Strategic Initiatives - Zhongying Life Insurance has optimized its product structure over the past five years, increasing the proportion of protection-type products and enhancing its core competitiveness through various strategic initiatives [4][5] - China Grain Trust has implemented strict controls on real estate trust quotas and is exploring diversified business development in family trusts, consumption trusts, and agricultural finance to counteract the impact of quota restrictions [5][6] Group 4: Future Outlook - In 2020, China Grain Trust plans to enhance its active management capabilities through the establishment of wealth management centers and innovative business practices [6] - The company aims to address financing challenges for small and medium-sized enterprises in the grain and oil food supply chain through proactive management [6]