China Huarong Asset Management Co., Ltd. (China Huarong, stock code: 2799), with its predecessor being China Huarong Asset Management Corporation founded on November 1, 1999, is one of the four major state-owned financial asset management companies established in response to the Asian financial crisis and for resolving financial risks, promoting the reform of state-owned banks and providing bailouts for state-owned enterprises. It was converted into a joint stock limited company upon the approval of the State Council on September 28, 2012. On October 30, 2015, China Huarong was listed on the Main Board of the Hong Kong Stock Exchange.
By the end of 2021, the total assets of China Huarong stood at RMB 1.57 trillion. In 2021, the Company’s total revenue amounted to RMB 93.07 billion. Its net profit reached RMB 1.99 billion and the profit attributable to equity holders of the Company totaled RMB 378 million for the year.
China Huarong mainly engages in such business as distressed asset management, financial services, and asset management and investment, with the distressed asset management as its core business. Currently, China Huarong provides financial services nationwide in 30 provinces, autonomous regions and municipalities, as well as in Hong Kong and Macao. The Company operates through 33 branches and many subsidiaries, including Huarong Financial Leasing, Huarong International Trust, Huarong Rongde, Huarong Industrial and Huarong International.
Looking into the future, China Huarong will adhere to the national orientation of financial asset management companies, focus on the core business of distressed assets management, strive to serve the real economy, prevent and control financial risks, deepen reform and transformation, create a sustainable business model, and achieve the goal of high-quality development.