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2018 Annual Report of JIC : Subsidiaries

2019-08-23

JIC Investment Co., Ltd. (JIC Investment) mainly engages in direct equity investment and fund management. Headquartered in Beijing, JIC Investment has branches in Shanghai, Anhui, Hong Kong and Frankfurt.

Technology progress remained the investment theme for JIC Investment throughout 2018. The company focused on industrial manufacturing layout, with 3 projected completed and RMB400 million newly invested in the past year. The investment activities laid a solid foundation for the industrial investment research, which was combined with both internal and external forces to form an in-depth analysis of the relative industrial chain. JIC Investment ramped up the post investment management for the SGD Pharma, one of its M&A projects. With a clearer strategy and key operation management, JIC Investment played a positive role in assisting SGD Pharma to realize an overall progress.

By the end of 2018, JIC Investment had invested a total of RMB 4.1billion in 19 projects, and the assets under management was RMB 12.9 billion.

 

JIC Huawen Investment Ltd. (JIC Huawen) is JIC's investment and operations platform in culture and consumption, focusing on cultural media, consumer goods & services, and healthcare.

The company acquired Nature’s Care in 2018, the first of such M&A in the consumer goods field. JIC Huawen also invested in the international intellectual property service provider PatSnap. In addition, JIC Huawen assisted Hunan Broadcasting and Television to promote the reorganization and listing of Mango Media and Happigo. Mango Media successfully went public and became the first state-owned video platform listed in the A-share market.

The management revenue reached RMB 235 million, with two investment projects completed in 2018. The total amount of investment of 2018 was RMB1.268 billion. By the end of 2018, JIC Huawen’s investment had accumulated to RMB3.965 billion, assets under management had been RMB 5.254 billion, and it had invested in a total of 13 projects.

 

JIC Technology Investment Co., Ltd. ("JIC Tech-inv") engages in equity investment and asset management in the new generation information technology and "Internet Plus" industries. JIC Tech-inv takes the national information technology upgrades and the transformation of traditional industries through the Internet as its investment themes, attaching great importance to technologically advanced or market leading enterprises for major investment consideration, and prioritizing its layout around the core values and key resources of the industry chain with a focus on information technology industries, including cloud computing, Internet of Things, big data, information security, etc.

JIC Tech-inv furthered its layout in information security, semiconductor and artificial intelligence in 2018. The investment in Smatter Micro enabled JIC Tech-inv to seize the industrial opportunities in the 5G era. Besides, the asset management business was well under way. The successful IPO of Ping’ An Good Doctor was a proof of dedication and cultivation by JIC Tech –Inv, as one of its main investors. JIC Tech-inv posted a net profit of RMB180 million in 2018. At the end of 2018, the total assets of the company were RMB 2.68 billion; net assets were RMB 2.06 billion, with 37 investment funds and assets under management totaled to RMB 22.579 billion.

 

JIC Holdings Co., Ltd. ("JIC Holding") is JIC's industrial investment and operation platform, focusing on health and old age care, as well as real estate and property management. JIC Holding has five first-tier companies and more than 40 second-tier enterprises across 22 provinces, cities and autonomous regions in China.

The company took positive steps to promote the old age care and health industries in 2018, cultivating in the field of Medical Treatment with Regimen. Shanghai Pujiang Rehabilitation Hospital was one of the projects that JIC Holding had been working on. The China-Belgium (Europe) Technology Innovative Industry Fund would hopefully to boost the scientific and technological progress and the upgrading of the growth momentum. The company enhanced the real estate renewable investment business, steadily accelerating the development of existing businesses. At the end of 2018, JIC Holding posted a net profit attributable to the parent company of RMB110.2856 million, and total assets stood at RMB3.8 billion.

 

The core businesses of JIC Trust Co., Ltd. ("JIC Trust") are trust investment and wealth management.

In 2018, JIC Trust actively responded to the development and changes of the industry, exploring investment opportunities in different industries and fields, and continuously improving its comprehensive wealth management capabilities.  In 2018, JIC Trust realized an operating income of RMB1.893 billion and a net profit of RMB916 million. By the end of 2018, JIC Trust had 410 ongoing trust projects, amounting to RMB167.1 billion, of which the collective trust scale was RMB99.1 billion, accounting for 59% of total assets under management, maintaining a relatively high level in the trust industry. In 2018, JIC Trust’s wealth management business independently raised RMB 23.27 billion, an increase of 61.8% year-on-year.

JIC Trust actively innovated and transformed its business, making breakthroughs in asset-backed securitization, equity and standard trusts.  By the end of 2018, JIC Trust 's ongoing asset-backed securitization reached RMB31 billion, a year-on-year increase of 142%, accounting for 18.6% of the total; the accumulated standard trusts under management was RMB9.99 billion, a year-on-year increase of 78.6%.

 

Guotai Asset Management Co., Ltd. ("Guotai AMC") is one of the first licensed public fund companies in China. Guotai AMC has developed into a comprehensive and large scale asset  management company that  provides a wide range of products  to meet the needs of investors with different risk preferences. Guotai AMC has 98 public funds, three pension products and more than 85 portfolios including special accounts, annuities, social insurance and investment consulting.

At the end of 2018, Guotai AMC's assets under management totaled to RMB295.3 billion with dividends to holders at RMB40.2 billion. The size of public funds reached RMB209.8 billion, a record high, an increase of 107% compared with that of 2017, and the rate of increase was higher than the average 11.96% of the fund industry in the same period. The size of public funds (excluding currency and short-term monetary funds) was RMB100.7 billion, increased by RMB10.7 billion, and an increase of 11.89% year-on-year, a record high, beating the industry’s average growth of 7.98%.

 

JIC Leasing Co., Ltd. (JIC Leasing) focuses on six strategic sectors –information technology, environmental protection, transportation, consumer services, public utilities and equipment manufacturing. It also provides financial products and services including financial leasing, operational leasing, cross-border leasing and commercial factoring.

In 2018, JIC Leasing continued to strengthen its service in aviation materials, automobile, medical and health care, information technologies and in other areas. The company invested RMB5.365 billion to support a comprehensive services upgrade in transportation, providing major and regional airlines in China with direct leasing services. It also provided the leading enterprises in the automotive industry with automobile retail assets, services of transforming the warehouse financing into leasing, and leasing services of whole plant equipment for vehicles. A total of RMB4.199 billion was put into health care industry to support the development of hospitals and distribution of pharmaceuticals. Another RMB3.837 billion was used to promote the electronic supply chain leasing and to boost the core technology breakthrough in the information industry, supporting key state projects such as OLED curved display screens and high-end lithium battery materials. In 2018, JIC Leasing's total assets were RMB35.416 billion, a year-on-year increase of 13%, with operating income and net profit increased by 32% and 12% respectively.

 

China Investment Consulting Co., Ltd. ("China Investment Consulting") is the first large state-owned investment consulting firm in China. Headquartered in Shanghai, it has branches in Beijing, Xinjiang and Nanjing. With the mission of building
a new comprehensive national think tank, China Investment Consulting has established a  “consulting + asset management” system, specializing in the important propositions of reform and development, such as PPP, green industry, SOE reform, government debt risk management, and new and old kinetic energy conversion. The company has provided high value-added, all-round, integrated consulting and asset management services for its clients in investment and financing activities. It seeks to promote the transformation and upgrading of regional industries and the high-quality development for the national economy.

In 2018, the company secured 89 consulting projects, covering 50 cities and counties across China, with a total investment of more than RMB45 billion. China Investment Consulting focuses on major infrastructure building, environmental protection, rural revitalization, healthcare and other fields that contributes to people's livelihood and happiness. It has set up 29 funds, with assets totaled to RMB28.2 billion, a paid-up scale of RMB5.82 billion. The company has invested in 30 projects with a total of RMB4.88 billion. At the end of 2018, the company's total assets were RMB324 million, and its net assets amounted to RMB267 million.

 

JIC Bookstore Investment Co., Ltd. ("JIC Bookstore") is the cultural operation platform for JIC. Its vision has always been to facilitate the accumulation of both wealth and intelligence, and to promote the progress of society.

Based on the operation of cultural space and guided by a global vision, JIC Bookstore is committed to exploring the potential in the cultural industry chain, to developing various cultural products, optimizing allocation of resources and value creation, establishing a comprehensive cultural media industry chain, so as to create a cultural brand with strong social influence in the form of “JIC Bookstore”.

In 2018, JIC Bookstore planned and implemented more than 293 cultural and commercial activities. The number of followers s of its media brand "JIC Shujuke" has reached 50,000. JIC Bookstore also published 15 biographies. The annual operating income was RMB13.44 million, a year-on-year increase of 22.18%.

 

JIC (Hongkong) Holding Limited (JIC Hongkong) , headquartered in Hongkong SAR, is the first wholly-owned subsidiary established overseas by JIC.  Its business covers financing, asset management, corporate management, etc.

At the end of 2018, JIC Hongkong’s total assets amounted to RMB9.78 billion and the operating income was RMB187.75 million.

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