A summary of the collection

The market provides financial services for China's financial services and wealth management service providers, and provides financial services according to the credit line products. According to Wande Information, in 2016, it ranked sixth among all credit companies controlled by local governments in China, and ranked 25th among all credit companies in China. In the 2015 and 2016 industry levels of the China Trust and Industry Association, it has won the highest "level A" level.

Collection services are mainly divided into credit services and inherent services. In the aspect of credit services, collect the financial and / or financial information of the clients of the committee, and establish a trust arrangement through a credit contract with the clients. The income collected by collectors mainly comes from confident remuneration, which is paid to the collectors in terms of trust assets. In terms of inherent obligations, it is necessary to allocate inherent assets to various asset categories and invest in transactions that are beneficial to credit transactions, so as to maintain and increase the value of inherent assets.

Industry summary

According to the data of the China Trust and Banking Association, the China Securities Association, the China Insurance Supervision and Administration Commission and the China Banking Supervision and Administration Commission, the total credit assets of China's trust industry increased from 74.71 million yuan in 2012 to 20.219 million yuan in 2016, with a compound annual growth rate of 28.3 percent, making it the second largest financial industry after the banking industry.

Cymbals

The trust asset size of collective management was greatly reduced in 2015, coupled with the fact that since 2015, the income of hands and commissions who have been confident in trading has been relatively low, mainly due to China's economic growth, the downturn of the stock market, and the decline in the average real rate of return on trust caused by the increase in investment among different sources of enterprise financing, which has had a downward impact on the profitability of collectors.

Valuation

According to the IPO document, as of May 31, 2017, shares should account for HK $3.92 to HK $4.13 per share of tangible assets calculated on the basis of the 25.88 shares expected to be issued after the completion of the sale of the shares. (at the rate of HK $1.18 per 1.00 yuan per person).