[The Epoch Times, January 15, 2023](Comprehensive report by Epoch Times reporter Li Bing) The performance data of Chinese trust companies in 2022 have been disclosed one after another, and most trust companies are facing greater downward pressure on their performance. According to statistics, among the 28 trust companies, 19 saw a year-on-year decline in revenue, and 16 saw a year-on-year decline in net profit.
January 13th,Minmetals CapitalCo., Ltd. (referred to as “Minmetals Capital”) releasedMinmetals TrustIn the unaudited financial statements in 2022, Minmetals Trust achieved revenue of 3.548 billion yuan, a year-on-year decrease of 22.8%; realized net profit of 1.775 billion yuan, a year-on-year decrease of 24.85%.
Minmetals TrustIt is a non-bank financial institution engaged in trust business, and its controlling shareholder isMinmetals Capital, holding about 78% of the shares.Minmetals Capital is a central enterprise of the Communist Party of ChinaMinmetalsIts financial holding platform.
On January 13, Jingwei Textile Machinery Co., Ltd. (referred to as “Jingwei Textile Machinery“)releaseZhongrong TrustIn the unaudited financial statements for 2022, Zhongrong Trust achieved revenue of 5.047 billion yuan, a year-on-year decrease of 13.85%; realized net profit of 1.057 billion yuan, a year-on-year decrease of 28.9%.
Zhongrong TrustFounded in 1987, its subsidiaries include Zhongrong International, Zhongrong Dingxin, and Zhongrong Fund.Jingwei Textile MachineryIs the company’s largest shareholder. The parent company of Jingwei Textile Machinery is Hengtian Group, a central enterprise of the Communist Party of China.
On January 13, State Power Investment Group Industry and Finance Holdings Co., Ltd. (“Power Investment Industry and Finance”), a central enterprise of the Communist Party of China, released the unaudited financial statements of Bairui Trust for 2022. Bairui Trust achieved revenue of 1.027 billion yuan, a year-on-year decrease of 3.33 billion yuan. %; achieved a net profit of 588 million yuan, a year-on-year decrease of 29.98%.
Bairui Trust was founded in 1986. State Power Investment Group Capital Holding Co., Ltd., a wholly-owned subsidiary of SPIC, is the controlling shareholder of Bairui Trust, holding 50.24% of the shares.
According to the “21st Century Business Herald”, as of the evening of January 12, 28 trust companies have disclosed their unaudited financial statements for 2022 on the above-mentioned platform. Among them, the revenue of 19 companies declined compared with the same period of the previous year, and the net profit of 16 companies decreased year-on-year.
This is similar to the industry’s third-quarter performance situation recently disclosed by the Trust Industry Association. In the first three quarters of 2022, the trust industry has achieved a cumulative operating income of 67.352 billion yuan, a year-on-year decrease of 19.912 billion yuan, or 22.82%.
As of the third quarter of 2022, the trust industry has achieved a cumulative trust business income of 54.773 billion yuan, a year-on-year decrease of 8.456 billion yuan, a drop of 13.37%, and the impact on the decline in the overall operating income of the industry reached 42.47%.
Responsible Editor: Sun Yun#
