JIC Leasing made an ownership change announcement on August 5, 2016. This news comes after the Company registered changes to its business particulars with the licensing authority, including its Chinese name.
“The completion of ownership change is a big step towards the capital market”, said Chen Youjun, president of JIC Leasing. The company will launch its IPO at the right time. It will also further refine its governance system and organizational structure. Meanwhile, the company will explore global markets, offering a well diversified portfolio of products and services for its customers.
As a leading finance leasing company in China, JIC Leasing has maintained strong momentum over the years by focusing on areas, like information technology, advanced equipment manufacturing, health, environmental protection and new energy. These sectors provide great potential for leasing services amidst China’s economic restructuring and upgrade.
The company reported total asset and net profit growth up 48% and 62% (annualized) respectively over the past three years. Its assets currently stand at approximately RMB 25 billion.
In view of the company’s rapid growth and trends related to SOE reform, as well as with the support of its shareholder China Jianyin Investment, JIC Leasing is now planning to broaden its access to capital markets and seek the right platform for consolidating industrial resources. This will be done by introducing strategic investors, transforming the ownership structure and going public: all in a bid to bolster its core competence and brand value.
According to China Jianyin Investment, the process of introducing strategic investors, transforming the ownership structure and going public is an important way to deepen SOE reform among its member companies. In turn, this will create a more diversified ownership structure, as well as a more sophisticated system, for corporate governance and market-driven business operations. This will help build up the dynamics, control, influence and risk tolerance of state capital.