Milestones

2015

Adopted a program of US$5000 million medium term notes by a subsidiary of Huarong International, and the initial tranche of US$3.2 billion bond was issued successfully, which was the largest issuance of senior USD-denominated bonds under Regulation S by a financial institution globally

2014

Successfully introduced strategic investments by China Life Group, Warburg Pincus, CSI, Khazanah, CICC, COFCO, Fosun International and Goldman Sachs

Given Class A issuer credit rating by the three international authoritative credit rating agencies, namely Fitch, Standard & Poor’s and Moody’s

Successfully issued a RMB20, 000 million financial bond, which is currently one of the largest financial bonds issued by an AMC in the PRC capital markets

Issued US$1,500 million bonds through a subsidiary of Huarong International, which was our first offshore U.S. dollar bond

Established a branch in the Shanghai Free Trade Zone, which is the only branch in the Shanghai Free Trade Zone established by an AMC, and established Huarong Qianhai Wealth, which expanded our international strategies

Became the first among our peers to issue securitized credit asset products backed by debt assets from our acquisition-and-restructuring business, and actively attempted the “asset-light” operating model in respect of off-balance sheet business

2013

Established Huarong International as our overseas strategic platform, taking an important step in our international strategies

Successfully issued a financial bond of RMB12, 000 million, which was the largest financial bond publicly issued by an AMC in the PRC capital markets at the time

Raised RMB10,000 million long-term capital from New China Life Insurance Company Ltd. through a trust company as a new measure in respect of our external financing and the improvement of our liability structure

Rated as “Outstanding” (“AAA” level of A-grade) in the MOF’s Performance Evaluation of State-owned and State-controlled Financial Institutions again, which was the highest rating among all financial institutions

2012

Incorporated China Huarong, marking our transformation from a policy-driven financial institution to a market-oriented financial institution

With our total assets amounting to RMB315, 034 million, we became the largest AMC in terms of total assets

Received the approval to participate in the interbank lending market and obtained the permit to issue financial bonds, which expanded the investment and financing channels of market-oriented funds for the Company

Recognized as “National Enterprise Model Regarding Innovation”, “2011 China’s 100 Top Brands” and “2011 Best Social Responsibility Case of the Year”, which enhanced our corporate image and social influence

Rated as “Outstanding” (“AAA” level of A-grade) in the MOF’s Performance Evaluation of State-owned and State-controlled Financial Institutions, which was the highest rating among all financial institutions

2011

Entered into a co-operative memorandum of understanding with NABG as our first step to implement our “international expansion strategy”

Received the award “2011 Greatest Potential Enterprise in China” from China Economic Development Forum

Finalized the joint-stock reform plan and submitted the proposal to and, in the following year, obtained official approval by the State Council

2010

We believe we were the first to conduct acquisition-and-restructuring business on a large scale, leading the peers to establish the mainstream business model of AMCs with the market-oriented development

Restructured the commercial banks in Zhuzhou, Xiangtan, Hengyang and Yueyang in Hunan Province, as well as the Urban Credit Cooperative in Shaoyang, and merged them into Huarong Xiangjiang Bank, which became the first commercial bank controlled by an AMC

Together with Chongqing Yufu Assets Management Group Co., Ltd., established Huarong Yufu which was the first private fund management company jointly established by an AMC and a financing platform of local government

Huarong Financial Leasing successfully issued a financial bond of RMB1, 000 million in the national interbank bond market, becoming the first financial leasing company in China to carry out market-oriented direct financing through issuance of a financial bond

Completed the restructuring of Hainan Xinghai Futures Brokerage Co., Ltd. and established Huarong Futures

Received the award “2010 Most Creative Enterprise in China” at the annual meeting of the Chinese Enterprises Innovation Forum in 2010

2009

Defined “market-oriented, diversified, comprehensive and international” as the direction of our development and commenced commercial transition and the implementation of “core client” strategy. We also actively built up strategic cooperation relationships with and provided comprehensive financial services to governments at provincial and municipal levels, financial institutions and large enterprises

Completed the restructuring of Zhuhai Hengqin Xindong Real Estate Development Company and established Huarong Real Estate

2008

Restructured Xinjiang International Trust & Investment Co., Ltd., one of the first trust investment companies in China, and established Huarong Trust, which was the first trust company controlled by an AMC

2007

Established Huarong Securities with China Gezhouba Group Company Ltd., which was one of the first securities companies established by an AMC

2006

Restructured one of the first financial leasing companies in China, Zhejiang Financial Leasing and renamed as Huarong Financial Leasing in the next year, the first financial leasing company controlled by a financial institution

Established Huarong Rongde with foreign investors to engage in distressed asset-based special situations investment business, which is the only Sino-foreign joint venture AMC controlled by an AMC in China

Completed the target set by the MOF for the recovery of Policy Distressed Assets and ranked top among our peers in terms of Cash Recovery Ratio while maintaining the disposal costs at a lower level

2005

Became the first AMC to receive ISO9000 accreditation for quality management systems as certified by the British Standards Institution (“BSI”)

Entrusted by the MOF to dispose RMB246, 045 million distressed assets of ICBC

2004

Entrusted by the State Council to wind down the large-scale private enterprise groups of Delong Group in order to eliminate its systemic financial risk, becoming the first AMC to wind down a large-scale private enterprise held in trusteeship

Appointed as the sponsor for the public listing of Shaanxi Construction Machinery Co., Ltd., becoming the first AMC to complete the sponsorship and underwriting for the public listing of an enterprise under the sponsor regime

2003

Became the first AMC to launch multi-tranche trust products with distressed assets as the underlying assets (quasi-asset-securitization business). The underlying asset pool for the trust products was RMB13, 261 million

2002

Appointed as the lead underwriter for the public listing of Hebei Taihang Cement Co., Ltd., becoming the first lead underwriter for the public listing of a DES company in the PRC

2001

Assigned by PBOC, disposed and liquidated China Venturetech Investment Corporation (“CVIC”) and became the first financial institution to be entrusted to conduct administrative liquidation of distressed enterprise

Became the first AMC to conduct international tender for distressed assets and sell NPL asset packages to international bidders including Goldman Sachs, creating a new model of PRC distressed asset disposal by Sino-foreign cooperation

Became the first AMC to launch online auction of distressed assets

Became the first AMC to introduce information publication system for asset disposal

2000

Began to acquire NPLs of RMB407, 696 million from ICBC, and commenced the policy business

Obtained the qualification for securities underwriting business

1999

Incorporated in Beijing as one of the Four AMCs as approved by the State Council