China's Shandong International Trust Makes History in HK IPO
2017年12月11日 - 3:11PM
JCN Newswire
Shandong International Trust Co., Ltd. (Stock Code: 1697.HK)
commenced dealings on the Main Board of the Hong Kong Stock
Exchange yesterday. It becomes the first Chinese trust to get
listed in Hong Kong for the past two decades.
Mrs. Wang Yingli, the chairperson of Shandong International Trust
stated, "Listing on the Main Board of the Stock Exchange of Hong
Kong Limited is an important milestone in the history of the
Company. It is a new start for the strategic development target in
the future. The Company will take it as the starting point, abide
the Listing Rules of the stock exchange strictly and carefully use
the proceeds to create better value to return investors and the
society."
China's trust industry managed a combined 22 trillion yuan of
assets at the end of the first quarter of 2017, up 25 per cent year
on year, according to figures from China Trustee Association.
Analysts said a Hong Kong IPO has become a relatively better choice
for trust firms, as mainland regulators view direct A-share listing
plans with caution.
SDITC is a comprehensive financial and wealth management service
provider in China, utilizing their trust products to provide
diversified financing and investment services. Trust business is
the core business. Utilizing the flexibility of trust arrangements
under PRC laws, SDITC has developed a broad range of trust products
to satisfy the financing, investment, wealth management and
succession needs of various types of clients.
Shandong International Trust Co., Ltd. ranked 6th among all trust
companies the controlling shareholders of which have local
government background and ranked 25th among all trust companies in
China in terms of total trust assets in 2016 according to Wind
Info.
Under the macroeconomic environment, the trust industry in China
also faces many challenges. SDITC have successfully withstood
economic and market fluctuations over the past few years and
achieved rapid growth. The trust AUM of all of SDITC's trusts
increased from RMB112,392 million as of December 31, 2011 to
RMB254,637 million as of December 31, 2016, representing a CAGR of
17.8%.
With the rapid development of Shandong's economy, the number of
HNWIs in Shandong increased rapidly in recent years. The large
number of HNWIs in Shandong has provided SDITC a huge potential
client base for the development of the trust business and, in
particular, SDITC's personal wealth management and family trust
businesses. As of May 31, 2017, SDITC had 17,348 trustor clients
from Shandong, which accounted for 32.5% of SDITC's total trustor
clients. SDITC believes the continued increase in the number of
HNWIs in Shandong will provide a solid potential client base for
the future development of SDITC's trust business.
Looking ahead, based on the status of its current business
development, and as China's economic development has entered the
"new normal" stage, the Company intends to take advantage of the
changes. SDITC intends to continue to strengthen traditional
business, enhance active management capabilities, rapidly expand
trust business that provide asset management and wealth management
services, capture new business opportunities through continuous
innovation, and build up brand image as a high-quality and
trustworthy financial service provider in China.
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