Bohai Trust | |||||
Formerly | Hebei International Trust Investment | ||||
Type | Subsidiary | ||||
Industry | Financial services | ||||
Founded | December 1983 | ||||
Headquarters | Shijiazhuang, Hebei , China | ||||
Area served | mainland China | ||||
Services |
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Revenue | ¥ billion RMB 1.070 (2015) | ||||
¥ million RMB 679 (2015) | |||||
¥ million RMB 549 (2015) | |||||
AUM | ¥216.173 billion RMB (2015) | ||||
Total assets | ¥ billion RMB 4.848 (2015) | ||||
Total equity | ¥ billion RMB 4.234 (2015) | ||||
Owner |
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Parent | HNA Group | ||||
Website | bohaitrust.com | ||||
Footnotes /references source [1] |
Bohai International Trust | |||
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Simplified Chinese | 渤海国际信托 | ||
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Bohai Trust | |||
Simplified Chinese | 渤海信托 | ||
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Bohai International Trust Co.,Ltd. (BITC) known as just Bohai Trust,is a Chinese investment management company based in Shijiazhuang,Hebei Province. The company has licensed to create trust (as private equity fund). The company is a subsidiary of HNA Group for 51.23% shares (via HNA Capital), [2] plus additional 22.10% shares via China Xinhua Airlines, [2] a subsidiary (83.39%) of Hainan Airlines. Hainan Airlines,a listed company,is partially owned by HNA Group. The remain 26.67% shares of the trust company were owned by another subsidiary of HNA Group (Chinese :海南海航实业控股; lit. 'Hainan HNA Industrial Holding'), [2] which the group owned 72.98% stake of that subsidiary directly and indirectly (via Chinese :海航实业集团; lit. 'HNA Industrial Group').
The predecessor of the trust company was founded in December 1983 as Hebei International Trust Investment Corporation (Chinese :河北省国际信托投资公司). [3] In 2004 the company was re-registered as Hebei International Trust &Investment Co.,Ltd. (Chinese :河北省国际信托投资有限责任公司),which Hebei Provincial State-owned Assets Supervision and Administration Commission was the largest shareholder for 95.24% stake. [4] In 2006 it was acquired by HNA Group from Hebei Provincial People's Government ; [3] the share capital of the company had increased to ¥2 billion RMB in 2010 [5] and to ¥3.6 billion RMB in 2016. [2] The company also changed from "company limited by quote/stake" to "company limited by shares" (analog to public limited company) in 2015. [3]
In 2012 China Xinhua Airlines also acquired the minority stake (795.65 million shares) from HNA Hospitality Group,Tangla Hotel Beijing ,Haikou Meilan International Airport Co.,Ltd. and 2 sister companies, [6] for a total price of ¥2.761 billion RMB (¥3.47 RMB per share). [7] China Xinhua Airlines did not subscribed the 2016 capital increase of the trust company, [8] making the shares were diluted to 22.10%. [2]
In November 2017,Bohai Trust was sued for failing to pay the collective funds trust plan for the Bohai Trust Ningbo Weitong Investment Project,which was originally scheduled to expire on July 27,2017. [9]
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