Zhongrong Trust products are overdue, and many listed companies step on thunder! Everbright, Minmetals, and AVIC Trust Urgently Dispel Rumors
There has been a lot of noise in the trust circle recently! On the evening of August 11, the listed companies Jinbo shares (688598) and Nandu property (603506) announced that the purchased Zhongrong trust products failed to recover the principal and income on schedule, involving principals of 60 million yuan and 30 million yuan respectively. Yuan.
The overdue incident of Zhongrong Trust also made people panic in the trust circle. Everbright, Minmetals, and AVIC Trust urgently refuted the rumors about the recent untrue remarks on product payment that night.
Three listed companies announced “stepping on thunder”
Zhongrong Trust products are overdue and confirmed!
Jinbo shares announced that the Zhongrong-Zerui No. 1 Collective Fund Trust Plan (referred to as “Zerui No. 1”) and Zhongrong-Longsheng No. 1 Collective Fund Trust Plan (referred to as “Longsheng No. 1”) purchased by the company) failed to recover a total of 60 million yuan of principal and 4.26 million yuan in investment income on schedule, “without affecting the cash flow of the company’s normal operating activities”, the trustee of the above two trust products is Zhongrong International Trust Co., Ltd. Financial Trust”).
The reporter learned that from August 10 to 12, 2022, Jinbo shares purchased Zhongrong Trust’s Longsheng No. 1 and Zerui No. 1 trust products through Hengtian Wealth Management, a subsidiary of the “Zhongzhi Department”. Among them, Longsheng No. 1 has an expected annualized rate of return of 7% and a duration of 12 months; Zerui No. 1 has an expected annualized rate of return of 7.20% and a duration of 12 months.
“Treading Thunder” Zhongrong Trust’s listed companies also include Nandu Property. On the evening of August 11, Nandu Property issued an announcement saying that on February 9 this year, the company used 30 million yuan of idle self-owned funds to purchase Huijujin No. 1. The product period is from February 9 to August 8, and the expected rate of return was 5.8%. As of the date of the announcement, the company has not received the principal and investment income of the Zhongrong-Huijujin No. 1 Monetary Fund Collective Fund Trust Plan (referred to as “Huijujin No. 1”).
Nandu Property said: “Except for the trust plan, the company does not hold other products issued by Zhongrong Trust. The company is currently operating normally and its financial situation is stable. This matter will not affect the company’s continuous operations and daily operating capital needs.”
In addition to the above two listed companies, the reporter also noticed that Xianheng International (605056) announced on August 5 that the remaining principal of the Zhongrong-Fengying No. 176 Collective Fund Equity Investment Trust Plan purchased by the company was 2,570,600 yuan and investment income have not yet been recovered.
According to the official website, Zhongrong Trust was formerly known as Harbin International Trust and Investment Company, which was changed to Zhongrong Trust in 2007. In 2010, Jingwei Textile Machinery acquired the 117 million shares of Zhongrong Trust held by Zhongzhi Enterprise Group and became the largest shareholder. As of the end of last year, Jingwei Textile Machinery held a 37.470% stake in Zhongrong Trust and was the controlling shareholder. Zhongzhi Enterprise Group holds 32.986% of the shares and is the second largest shareholder. The actual controller of Zhongrong Trust is China National Machinery Industry Corporation.
As of the end of 2022, Zhongrong Trust has 1,633 trust plans in existence, with self-owned assets of 30.418 billion yuan (consolidated), and the total scale of entrusted management assets of the company and its subsidiaries is 785.709 billion yuan. Among the entrusted management assets, the company managed 629.349 billion yuan in trust assets, accounting for 80.10%; the entrusted management assets of subsidiaries were 156.360 billion yuan, accounting for 19.90%. Zhongrong Trust will achieve a total operating income of 5.034 billion yuan (consolidated) in 2022. The net assets of the company headquarters are 20.837 billion yuan, the net capital is 17.622 billion yuan, the net capital coverage rate is 192.45%, and the net capital surplus is 8.465 billion yuan.
Many trust companies urgently refuted rumors
The overdue incident of Zhongrong Trust has also affected many trust companies. On the evening of August 11, Everbright, Minmetals, and AVIC Trust urgently refuted the rumors about the recent false statements about product payment. Everbright Trust issued a statement saying, “Regarding the false statements about the payment of Everbright Trust products that have been circulated on the Internet recently, our company makes a solemn statement: the trust products managed by the company are operating normally, and they are managed and distributed according to the trust contract. The company will reserve the right to pursue legal responsibility according to the law for the actual remarks and rumors!”
Minmetals Trust released the “Explanation on Recent False Statements in the Market”, stating that recently, the company has monitored false statements related to “the suspension of the withdrawal of Minmetals Trust products”. The company attaches great importance to this and has taken legal measures for the false statements. The legal responsibility of the rumormongers should be investigated to protect the legitimate rights and interests of the company.
“The company has always been adhering to the principle of maximizing the interests of investors, strictly implementing regulatory requirements, conducting business activities in compliance with regulations, providing customers with high-quality products, and has never issued fund pool products. All work is progressing normally and orderly, and operations remain stable. In the future, The company will continue to adhere to the concept of ‘customer-centric’, continue to strengthen risk management and control, earnestly perform entrusted management duties, provide professional financial services, and make every effort to provide investors and partners with better services.” Minmetals Trust said.
In response to the false information about AVIC Trust recently released by Internet rumormongers, AVIC Trust also issued a statement stating that the company has reported the case to the public security organ and will take legal measures to protect the company’s legitimate rights and interests. “Our company hereby solemnly declares: AVIC Trust is operating normally. As an important member unit of the Aviation Industry Corporation, the company will continue to adhere to honest management, abide by the duties of the trustee, and always put the interests of investors in the first place, and serve the beneficiaries Maximize profit service.”
Yuan Jiwei, an asset management researcher, told reporters that trust companies are in a critical period of transformation and development, with new and old businesses alternating, insufficient performance growth momentum, and increased risks in real estate and other industries, which have a greater impact on the trust industry.
Shuai Guorang, a senior researcher at Yongyi Trust, told reporters that judging from the current development of trust companies, industry differentiation is becoming more and more obvious, and market clearing is the inevitable result of industry development and competition. In the future, trust companies need to take a characteristic development route according to their own shareholder background and resource endowment differences. The new classification of trust business has pointed out the direction for the transformation and development of trust companies, and the subsequent trust industry may increase the distribution of standard products and service trusts.
Yuan Jiwei said that the key to the innovation and transformation of trust companies is to strengthen the adjustment and optimization of business structure. According to the new trust business classification orientation, return to the origin of trust and the law of business development, improve business professional capabilities, strengthen risk management, strengthen organizational system construction, and improve core competitiveness.
(Article source: International Finance News)