JIC Investment
JIC Investment Co., Ltd. (JIC Investment) was established in 2012 with the registered capital of RMB5 billion. It mainly engages in direct equity investment and fund management. Headquartered in Beijing, the branches of JIC Investment locate in Shanghai, Anhui, Hong Kong, Frankfurt, etc.
In 2019, JIC investment accelerated the progress of industry-focused strategic projects, and at the same time, invested in convertible bonds that were risk controllable and profitable. Jiuqi software convertible bond project was completed, achieving a rate of return of 13.42%, and IRR of 23.76%. JIC investment continued to strengthen the post investment management of SGD, the M&A project in which JIC acted as the holding company. JIC investment actively promoted the global development strategy of SGD, steadily implemented its localization in China, and improved its shares in the global high-end market. SGD achieved sales revenue of EURO 339 million and net profit attributable to parent company of EURO 23.8 million.
By the end of 2019, JIC Investment had invested a total of RMB6.02 billion in 22 projects, and the assets under management was RMB 13.5 billion.
JIC Huawen
Founded in October 2013 and headquartered in Beijing with registered capital of RMB2 billion, JIC Huawen Investment Ltd. (JIC Huawen) is JIC's investment and operations platform in culture and consumption, focusing on culture, media, consumer goods & services, and healthcare.
In 2019, the company invested in Jointown Pharmaceutical Equipment, the first of such M&A in the medical devices field. JIC Huawen signed an investment agreement with Caesar Tourism, which symbolized its first attempt to lay out business in the cultural tourism industry. JIC Wenyuan, a subsidiary of JIC Huawen, passed the audit of AMAC and became a private fund manager.
The management revenue of JIC Huawen reached RMB118 million in 2019. By the end of 2019, JIC Huawen’s investment had accumulated to RMB4.165 billion, assets under management had been RMB4.82 billion, and it had invested in a total of 14 projects.
JIC Technology Investment
Founded in 1995 and headquartered in Beijing with registered capital of RMB2 billion, 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 businesses along the industry chain in core values creation and key resources, focusing on information technology industries, which include Cloud Computing, Internet of Things, Big Data, Information Security, etc.
In 2019, JIC Tech-inv gradually formed five major investment themes: 5G, information security, smart travel, smart city and smart finance. By the end of 2019, the settlement and delivery of SINOINFOSEC project had been in steady progress as one of the strategic investment, achieving a net profit of RMB 37.79 million, a year-on-year increase of 28.75%. JIC Tech-inv completed the financial investment projects of WeEn Semiconductors, Timeloit and GalaxySpace to realize the layout in the fields of semiconductor, smart city and commercial satellite. What’s more, JIC Tech-inv successfully held the 2019 Beijing 5G Industry Developments and Investment Summit, and signed a strategic cooperation agreement with all partners on the establishment of 5G Industry Fund.
JIC Tech-inv posted a net profit attributable to the parent company of RMB223 million in 2019. At the end of 2019, the total assets of the company were RMB 5.443 billion; net assets were RMB 3.163 billion, with 36 investment funds and assets under management totaled to RMB14.182 billion.
JIC Holding
JIC Holding Co., Ltd. ("JIC Holding") was established in 2006 with registered capital of RMB2 billion. As the main platform of industrial operation for the Group, the business pillars of JIC Holding include property management, real estate operation and old-age care. Its branches spread across 22 provinces, cities and autonomous regions of China.
The re-investment in real estate business by JIC Holding was steadily growing in 2019, covering key spaces of Beijing, Shanghai, Guangzhou, and Hangzhou, etc., with a total area of nearly 100,000 m2. The property management business was also in sound development last year, with newly increased area under management of 133,000 m2.
At the end of 2019, JIC Holding posted a net profit attributable to the parent company of RMB65 million, and total assets stood at RMB3.932 billion.
JIC Trust
Founded in 1979, JIC Trust Co., Ltd. ("JIC Trust") is amongst the earliest batch of trust companies engaging in trust and investment business in China. It is headquartered in Hangzhou with registered capital of RMB5 billion.
JIC Trust prioritizes the interest of beneficiaries, and performs the duty of trusteeship. JIC Trust takes “Loyalty, Honesty and Responsibility” as its company culture and instills such idea through its daily operation. In 2019, the company paid close attention to macroeconomic situation, and thoroughly implemented the supervisory policy. JIC Trust improved its ability in comprehensive financial services by speeding up the transformation and development of its main business, and has made remarkable progress in ABS, bond investment, charitable trusts and wealth management. By the end of 2019, the scale of the company’s ongoing ABS has reached RMB 44.7 billion, with a 44% increase year-on-year, while the scale of ongoing bond investment products reached RMB8.085 billion, with a 242% increase year-on-year.
In 2019, JIC Trust realized an operating income of RMB2.395 billion and a net profit of RMB888 million. A total of 396 ongoing trust projects had been accumulated by the end of 2019, amounting to RMB 177.1 billion, of which the collective trust scale was RMB101.5 billion, accounting for 57% of total assets under management. JIC Trust’s wealth management business independently raised RMB 33.7 billion, with an increase of 45% year-on-year.
Guotai Asset Management
Founded in 1998 and headquartered in Shanghai, Guotai Asset Management Co., Ltd. ("Guotai AMC") is one of the first licensed public fund companies in China. So far, Guotai AMC has grown into a comprehensive and largescale asset management company that provides a wide range of products to meet the needs of investors with different risk preferences. Guotai AMC manages 126 public funds, 5 pension products and more than 110 portfolio of assets including special accounts, annuities, social insurance and investment consulting.
At the end of 2019, Guotai AMC's assets under management totaled to RMB420.6 billion with dividends to holders at RMB42.1 billion. The size of public funds reached RMB150.868 billion, ranking the 14th among more than 100 public fund companies. The overall performance of the company's active equity fund is excellent, with ARR of 54.87% in 2019, ranking the top 1/4 in the industry. Many a bio-medical, semi-conductor, computer, communication ETF was issued in 2019. By the end of 2019, the nonmonetary ETF of Guotai AMC was RMB31.5 billion, ranking the eighth in the whole market, among which the total industry ETF of Guotai AMC reached RMB26.6 billion, accounting almost half of the whole industry ETF.
JIC Leasing
JIC Leasing Co., Ltd. (JIC Leasing) focuses on six strategic sectors, namely information technology, environmental protection, transportation, consumer services, public utilities and equipment manufacturing. It also provides financial products and services including financial leasing, operational leasing, crossborder leasing and commercial factoring.
In 2019, JIC Leasing continued to strengthen its service in electronic information, automobile, medical health and in other areas. The company invested RMB3 billion to support the core technology reform of the information industry and injected new energy into the development of new technologies such as big data, cloud computing, private network communication and high-end display. JIC Leasing also invested RMB3 billion to support the upgrading of comprehensive transportation services, establishing Jiayirong Leasing Company, and promoted the development of automobile C side business. What’s more, JIC Leasing invested RMB4.3 billion in the field of medical and health field, contributing to the medical industry chain. JIC Leasing supported advanced equipment manufacturing and promoted manufacturer leasing. It broadened its overseas business in the B&R Initiative, providing financial leasing services for Malaysia's integrated EPC project of phosphorus chemical industry, and supporting Chinese enterprises to go abroad. By the end of 2019, JIC Leasing's total assets were RMB41 billion, its operating revenues were RMB2.846 billion and net profits stood at RMB471 million.
China Investment Consulting
Founded in 1986 and headquartered in Shanghai with registered capital of RMB188 million, China Investment Consulting Co., Ltd. ("China Investment Consulting") is the first large state-owned investment-consulting firm in China. 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 2019, the company secured 90 consulting projects, covering 51 cities and counties across China, with a total investment of about RMB186.3 billion. The company focused on major infrastructure building, environmental protection, public services and other fields, providing solutions to the investment and financing problems for the government and enterprises, and provided professional services for the transformation of platform companies. "Wenyu Railway PPP project", "West Lake University PPP project", "Hainan Communications Investment Group Development Strategy", "Xinjiang Communications Investment Group Development Strategy" and other projects provided by the company are of significance to the local economic development and enterprise transformation. In 2019, the company set up 29 funds, with assets totaled to RMB21.985 billion, a paid-up scale of RMB5.754 billion. The company has invested in 38 projects with a total of RMB5.195 billion. At the end of 2019, the company's total assets were RMB325 million, and its net assets amounted to RMB262million.
JIC Bookstore
Founded in 2014, JIC Bookstore Investment Co., Ltd. ("JIC Bookstore") is the cultural operation platform for JIC with registered capital of RMB190 million. Cultural space operation has been the core for JIC Bookstore, while it cultivates in the field of culture and media. Cultural space operation, cultural products development, publishing of featured biographies, cultural and creative products development and cultural consultancy are five pillars of its business.
In 2019, JIC Bookstore planned and implemented more than 230 cultural and commercial activities, covered more than 100,000 people. Over 13,000 people registered membership in the whole year. The number of followers of both its media brand "JIC Shujuke" and "JIC bookstore" has reached 55,000 and 13,000 respectively. JIC Bookstore has published 29 biographies so far.
JIC Hongkong
JIC (Hong Kong) Holding Limited (“JIC Hong Kong” or the “Company”) is the first-tier wholly owned subsidiary of JIC incorporated in 2018 and is headquartered in Hong Kong, China.The Company is mainly engaged in debt issuance, asset management and enterprise management. By locating at one of the leading international financial centres, the Company is able to provide an important platform for JIC Group to strengthen its international cooperation and synergize its development strategies over the globe.
Since 2018, the Company provides treasury management for JIC Group, including, but not limited to, third party investment and self-managed investment businesses, for which the investment returns have fully exceeded the cost of debt issuance. At the end of 2019, JIC Hong Kong’s total asset under managements amounted to USD1.5 billion and the profits were USD70.74 million.