China Cinda Asset Management
State-owned bank
From Wikipedia, the free encyclopedia
China Cinda Asset Management Co., Ltd., doing business as Cinda or China Cinda, is a Chinese distressed asset management company headquartered in Beijing.
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Native name | 中国信达资产管理股份有限公司 |
|---|---|
| Formerly | China Cinda Asset Management Corporation |
| Type | State-owned enterprise |
| Industry | Financial services |
| Founded | 1999 |
| Headquarters | No. 1 Building, 9 Naoshikou Street, Xicheng District, Beijing , China |
Area served | China |
| Key people |
|
| Services | |
| Revenue |  CN¥78.7 billion (2015) |
| CN¥19.3 billion (2015) | |
| CN¥14.0 billion (2015) | |
| Total assets | CN¥714.0 billion (2015) |
| Total equity | CN¥101.7 billion (2015) |
| Owner |
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| Parent | Ministry of Finance of China |
| Subsidiaries | Cinda Securities |
| Website | www |
| Footnotes in a consolidated basis[1] | |
| China Cinda Asset Management Co., Ltd. | |||||||
|---|---|---|---|---|---|---|---|
| Simplified Chinese | 中国信达资产管理股份有限公司 | ||||||
| Traditional Chinese | 中國信達資產管理股份有限公司 | ||||||
| |||||||
| China Cinda | |||||||
| Simplified Chinese | 中国信达 | ||||||
| Traditional Chinese | 中國信達 | ||||||
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The corporation was founded as a state-owned enterprise and a bad bank for China Construction Bank in 1999. The bank was created by a debt-to-equity swap in which non-performing loans were converted into shares. In 2010, the corporation became a company limited by shares.[2]
In 2013, some of the shares in Cinda were floated on the Hong Kong Stock Exchange. In 2015 Cinda acquired the Nanyang Commercial Bank from fellow state-controlled financial conglomerate the Bank of China (Hong Kong).[3][4]
In February 2024, Cinda, along with China Orient Asset Management and China Great Wall Asset Management, was transferred from the Ministry of Finance to Central Huijin Investment.[5]
Portfolio companies
- Baiyin Nonferrous (5.38%)
- China Unicom (via private equity fund)
- Daye Non-Ferrous Metals Mining (SEHK: 661, 5.24%)[6]
- Fenxi Mining Industry Group
- Jincheng Anthracite Mining Group (17.066%)
- Huozhou Coal Electricity Group (36.97%)
- Taiyuan Coal Gasification Group (11.15%)
- Xishan Coal Electricity Group (35.47%)
- SouthGobi Resources (through Novel Sunrise)