China Orient Asset Management
Strategic state-owned investment and asset-management bank
From Wikipedia, the free encyclopedia
China Orient Asset Management Co., Ltd. is a Chinese distressed asset management company headquartered in Beijing. The company is an asset management company and a merchant bank originated as a bad bank for the Bank of China. The bank received shares from debt-to-equity swap of non-performing loans. It is a state-owned enterprise.
COAMC logo | |
.jpg) COAMC Building | |
| Formerly | China Orient Asset Management Corporation |
|---|---|
| Type | state-owned enterprise |
| Industry | Financial services |
| Founded | 1999 |
| Headquarters | Beijing , China |
Area served | China |
| Services | |
| Revenue |  CN¥12.7 billion (2012) |
| CN¥4.0 billion (2012) | |
| CN¥12.35 billion (2017) | |
| Total assets | CN¥979.22 billion (2017) |
| Total equity | CN¥18.4 billion (2012) |
| Owner | |
| Parent | Ministry of Finance of China |
| Website | coamc.com.cn |
| Footnotes in a consolidated basis, commercial sector only[1] | |
| China Orient Asset Management Co., Ltd. | |||||||
|---|---|---|---|---|---|---|---|
| Simplified Chinese | 中国东方资产管理股份有限公司 | ||||||
| Traditional Chinese | 中國東方資產管理股份有限公司 | ||||||
| |||||||
| Alternative Chinese name | |||||||
| Simplified Chinese | 东方资产 | ||||||
| Traditional Chinese | 東方資產 | ||||||
| Literal meaning | Orient Asset | ||||||
| |||||||
The corporation runs in two major business units since 2006, one for general commercial activities (Chinese: 商业化业务), one for the management of the shares that converted from non-performing loans (Chinese: 政策性不良资产处置业务), which was classified as assets under management.[1]
In 2016 the corporation was re-incorporated as a "company limited by shares" (Chinese: 股份有限公司): China Orient Asset Management Co., Ltd. (Chinese: 中国东方资产管理股份有限公司) from China Orient Asset Management Corporation (COAMC, Chinese: 中国东方资产管理公司).[2] The National Social Security Fund and the Ministry of Finance were the shareholders. According to the company's news press, as of 30 June 2016 its net assets stood at CN¥55.6 billion. The former non-performing assets under management were converted to share capital, raising from CN¥10 billion to CN¥55.363 billion.[3]
History
Founded as a bad bank of Bank of China, Orient Asset also received Bank of China's asset management subsidiary Bangxin Asset Management in 2000, which itself was incorporated in 1994 as a subsidiary of BoC Shenzhen branch.[4]
In 2015 the group expanded as a full service financial conglomerate by acquiring the Bank of Dalian.[5]
Subsidiaries
- Doho Data Consulting Company
- Dong Yin Development (Holdings) (100%)[6]
- Charming Light Investments (SPV for dim sum bond SEHK: 85723)[9]
- Bangxin Asset Management (100%)
- Bank of Dalian (39.70%)
- China United Insurance Holding (51.01%)[10]
- Dongxing Securities (58.09%, SSE: 601198)[11]
- Chinese: 东方金诚 (a Credit rating service provider)
Portfolio companies
- Baiyin Nonferrous (0.63%)
- Dongbei Special Steel (16.6740%)[12]
- Meishan Iron and Steel (7.02%)[13]
- Shandong Jining Ruyi Woolen Textile (12.24%, SZSE: 002193)[14]
- Shanghai Zendai Property (via COS Greater China Special Situations Fund for 18.17%, SEHK: 755)[6]
- Tianjin Pipe Corporation (3.03%)[15]
- Xishan Coal Electricity Group (5.67%)[16]
Former portfolio companies
- China Kejian Co., Ltd. (SZSE: 000035)[17]
- Dongfeng Motor Group (2001–2004)[18]
- Rising Nonferrous Metals (SSE: 600259)[19][20]
