具体来看，时任原中国华融资产管理股份有限公司广东省分公司总经理黄俊平、时任原中国华融资产管理股份有限公司广东省分公司投资银行部负责人简智常、时任原中国华融资产管理股份有限公司广东省分公司金融服务三部负责人高中翔、时任原中国华融资产管理股份有限公司广东省分公司金融服务一部负责人麦宝龙，均对上述违法违规行为负有责任。
(Image source: Visual China)
BLUE WHALE NEWS, September 11 (Reporter Wang Wanying) Recently, the Guangdong Regulatory Bureau of the China Financial Supervisory Authority issued an administrative penalty decision punishing the Guangdong branch of CITIC Financial Asset Management Co., Ltd. (hereinafter referred to as “CITIC Financial Assets”) and those responsible.
According to the penalty decision, the main illegal facts of CITIC Financial Assets Guangdong Branch include: asset risk classification, customer risk limit management, and bad debt acquisitions that seriously violate prudential management rules; illegal provision of interbank guarantees to the outside world; and concealing project risks in violation of regulations.
Specifically, Huang Junping, then general manager of the Guangdong branch of China Huarong Asset Management Co., Ltd., Jian Zhichang, then head of the investment banking department of the Guangdong branch of China Huarong Asset Management Co., Ltd., Gao Xiang, then head of the financial services department of the Guangdong branch of China Huarong Asset Management Co., Ltd., and Mai Baolong, then the former head of the financial services department of China Huarong Asset Management Co., Ltd. Guangdong Branch, are all responsible for these illegal acts.
In response to the above violations, the Guangdong Supervisory Authority of the China Financial Supervisory Administration fined CITIC Financial Assets Guangdong Branch a total of 3.8 million yuan; warned and fined Huang Junping 0.15 million yuan; warned and fined Jian Zhichang 0.1 million yuan; warned and fined Gao Xiang 0.1 million yuan; and warned and fined Mak Baolong 0.05 million yuan. The penalty decision was made on August 28, 2024.
(Photo source: China Financial Supervisory Authority, Guangdong Regulatory Bureau)
CITIC Financial Assets, formerly known as China Huarong Asset Management Company (“China Huarong”), was founded on November 1, 1999 and is one of the four major state-owned financial asset management companies. As an AMC agency, China Huarong's main business previously included non-performing asset management, financial services business, and asset management and investment business. Among them, non-performing asset management was the company's core business, covering the four major business functions of “problem asset disposal, problem project revitalization, problem enterprise restructuring, and crisis agency rescue.”
In January of this year, China Huarong changed its name to China CITIC Financial Asset Management Co., Ltd. and became a member of the CITIC Group. Currently, the company's major shareholders include China CITIC Group Co., Ltd., the Ministry of Finance, China Insurance Rongxin Private Equity Fund Co., Ltd., and China Life Insurance (Group) Company.
In the first half of 2024, CITIC Financial Assets achieved net profit of 5.332 billion yuan, an increase of 210.7% over the previous year; by the end of June, total assets were 10,55.342 billion yuan, an increase of 9% over the end of the previous year.
The company pointed out in its 2024 semi-annual report that the reasons for profit in the first half of the year were mainly due to two factors: first, continuous optimization of asset structure and industry layout, strengthening asset allocation and optimal management, and positive progress in main business transformation; second, deepening the construction of a comprehensive risk management system, high-quality investment and risk mitigation, and steady improvement in risk management and control effectiveness. (Blue Whale News Wong Yuen-ying wangwanying@lanjinger.com)