Zhongzhi Capital

Last updated
ZhongZhi Capital
Company type Subsidiary
Industry Investment management
Founded2011;13 years ago (2011)
Headquarters
Beijing
,
China
Area served
China
Owners Zhonghai Shengrong (Beijing) Capital Management Limited Company (95%), Beijing Zhonghai Jurong Investment Management Limited Company (5%) [1]
Parent Zhongzhi Enterprise Group
Website www.zzcapital.com

Zhongzhi Capital (abbreviated as ZZ Capital) is a Chinese asset management company which is headquartered in Beijing. The company was founded in 2011 with registered capital of RMB 1bn. It is registered with the Asset Management Association of China and is a subsidiary of Zhongzhi Enterprise Group.

Contents

The company focuses on investments in companies in the media and entertainment, internet and related services, manufacturing, healthcare, financial services, information technology and logistics sectors.

History

The company was founded in 2011.

By 2016, ZZ Capital owned a Hong Kong listed platform - ZZ Capital International. ZZ Capital International was listed in Hong Kong Stock Exchange, and licenses for futures trading and asset management. On September 7, 2016, ZZ Capital International had officially changed its name from "Asian Capital" to "ZZ Capital International", with its Hong Kong Stock Exchange stock code (08295) unchanged. ZZ Capital will start its own asset management business, and assist ZZ Capital International to establish a sustainable business ecosystem. ZZ Capital ended with a total comprehensive loss of HK$27.54 million in the Third Quarter Fiscal year 2016. [2]

In May 2016, Michael Cho joined as an executive director and CEO of ZZ Capital International. Cho would be paid a basic salary of US$1.8 million per year along with other benefits including a housing allowance of HK$130,000 ($16,755) a month, as well as participation in bonus and stock incentive schemes. [3] [4]

By 2015, according to China Venture Capital & Private Equity Annual Ranking 2015, it is the 18th largest domestic private equity firm. [5]

In 2016, Zhongzhi Capital was investigated by the China Securities Regulatory Commission (CSRC) and was found guilty of multiple offences, and violations that included: [6] [7]

In April 2017, Mr. Chen Jianfeng Peter an executive director and Chief Financial Officer of ZZ Capital International was appointed as alternate director to Ms. Duan Di, the chairman and an executive director of ZZ Capital International. [9]

In May 2019, Hong Kong's Securities and Futures Commission (SFC) completed an investigation into the shareholding of ZZ Capital International. It found that only 20 shareholders held 91.53 per cent of shares, and issued a warning to potential investors to exercise "extreme caution" due to the high concentration of shareholding. [10] Another such warning was issued by SFC in December 2019, stating that 20 shareholders held 91.22 per cent of shares at that time. [11]

In August 2023, the National Financial Regulatory Administration, China's banking regulator, set up a task force to examine risks at Zhongzhi following missed payments by the firm. [12]

Ownership

Zhongzhi Capital is owned by Zhonghai Shengrong (Beijing) Capital Management Limited Company and as Beijing Zhonghai Jurong Investment Management Limited Company as to 95% and 5% respectively. [1]

The ultimate parent company of Zhong Hai Sheng Rong is Zhonghai Sheng Feng (Beijing) Capital Management Limited Company. [1] The ultimate beneficiary of Zhonghai Shengrong (Beijing) Capital Management Limited Company is Xie Zhikun, founder of Zhongzhi Enterprise Group.

Major Investments

Related Research Articles

<span class="mw-page-title-main">China Unicom</span> Chinese state-owned enterprise

China United Network Communications Group is a Chinese state-owned telecommunications operator. Started as a wireless paging and GSM mobile operator, it currently provides a range of services including mobile network, long-distance, local calling, data communication, Internet services, and IP telephony. China Unicom is the third-largest wireless carrier in China and the sixth largest mobile provider in the world as of 2022.

<span class="mw-page-title-main">CITIC Group</span> Chinese state-owned investment company

CITIC Group Corporation Ltd., formerly the China International Trust Investment Corporation (CITIC), is a state-owned investment company of the People's Republic of China, established by Rong Yiren in 1979 with the approval of Deng Xiaoping. Its headquarters are in Chaoyang District, Beijing. As of 2019, it is China's biggest state-run conglomerate with one of the largest pools of foreign assets in the world. In 2023, the company was ranked 71st in the Forbes Global 2000.

<span class="mw-page-title-main">CITIC Limited</span> Hong Kong conglomerate

CITIC Limited is a conglomerate headquartered in Hong Kong. Its shares are listed on the Main Board of the Hong Kong Stock Exchange, and it is a constituent of the Hang Seng Index. 58% of its issued shares are owned by the Chinese state-owned CITIC Group.

Haitong Securities is a securities firm in China, providing services in stocks and futures brokerage, as well as investment banking, corporate finance, M&A, asset management, mutual fund, and private equity.

<span class="mw-page-title-main">China International Capital Corporation</span> Chinese company

China International Capital Corporation Limited is a Chinese partially state-owned multinational investment management and financial services company. Founded in China in 1995, CICC provides investment banking, securities and investment management services to corporations, institutions and individuals worldwide.

<span class="mw-page-title-main">Guosen Securities</span> Chinese Securities Brokerage

Guosen Securities Company Limited is a Chinese state-owned financial services company headquartered in Shenzhen, China, with more than 70 branches and 11,500 employees nationwide. It has offices in 47 major cities in China including Shenzhen, Beijing, Guangzhou, Foshan, Nanjing, Shanghai, Tianjin and Hong Kong. Guosen Securities provides sales and trading, investment banking, research, asset management, private equity, and other financial services with both institutional and retail clients in China and Hong Kong. It also operates a trading platform called GuoXin TradingStation.

<span class="mw-page-title-main">Rand Merchant Investment Holdings</span> Multinational financial services company

Rand Merchant InvestmentHoldings, also referred to as RMI Holdings, is a listed financial services investment holding company that holds various insurance brands in South Africa, Australia, China, Mauritius, New Zealand, Republic of Ireland, Singapore, the United Kingdom and the United States of America.

Greenland Holdings Corp., Ltd. known as Greenland Group is a Chinese real estate developer. It was founded as a state-owned enterprise. As of 31 December 2016, the top 10 shareholders of the listed company owned a combined 88% shares, with some state-owned enterprises having invested in Greenland via private equity funds.

<span class="mw-page-title-main">Silk Road Fund</span> Chinese state-owned investment fund

The Silk Road Fund is a China Government Guidance Fund to foster increased investment in countries along the Belt and Road Initiative, an economic development initiative primarily covering Eurasia. The Chinese government pledged US$40 billion for the creation of the investment fund, established on 29 December 2014.

<span class="mw-page-title-main">Oceanwide Holdings</span> Chinese company

Oceanwide Holdings Co., Ltd. is a Chinese publicly traded conglomerate. It was a subsidiary of Tohigh Holding, via intermediate holding companies Oceanwide Group and China Oceanwide Holdings Group.

<span class="mw-page-title-main">China Orient Asset Management</span> Strategic state-owned investment and asset-management bank

China Orient Asset Management Co., Ltd. is a Chinese state-owned enterprise. The company is an asset management company and a merchant bank originated as a bad bank for the Bank of China. The bank received shares from debt-to-equity swap of non-performing loans.

CSC Financial Co., Ltd. trading as China Securities, is a Chinese investment bank and brokerage firm established by CITIC Securities and China Jianyin Investment in 2005 in a 60–40 ratio, as a successor of bankrupted China Securities Co., Ltd. (CSC). However, the firm now majority owned by Jianyin Investment's parent company Central Huijin Investment and an asset managing subsidiary of Beijing Municipal People's Government.

Leshi Zhixin Electronic Technology (Tianjin) Co., Ltd. is a Chinese television manufacturer which was a subsidiary of Le.com. In 2017 Sunac China bought a part of Leshi Zhixin's stake, as well as subscription of new shares. Other new investors of the company were Huaxia Life Insurance (1.1310%) and a private equity fund LeRan Investment.

<span class="mw-page-title-main">Peking University Resources (Holdings)</span>

Peking University Resources (Holdings) Co., Ltd. known also as PKU Resources is a Chinese listed company. The company was incorporated in Bermuda and listed in the Hong Kong Stock Exchange. The company is an indirect non-wholly-owned subsidiary of Peking University, which in turn under the administration of the Ministry of Education. The company is broadly considered a state-owned enterprise of China. For the same reason, PKU Resources is a red chip company.

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. The company is a subsidiary of HNA Group for 51.23% shares, plus additional 22.10% shares via China Xinhua Airlines, 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, which the group owned 72.98% stake of that subsidiary directly and indirectly.

Li Yonghong is a Chinese businessman and investor who first came into the public eye in 2016 when he succeeded Silvio Berlusconi as the owner of the Italian football club A.C. Milan. Li is also known for his stock market transactions in mainland China.

Teamway International Group Holdings Limited is a Cayman-incorporated holding company based in Hong Kong and in the mainland China. It is a "registered non-Hong Kong company" in the Hong Kong Companies Registry since 2011. It was formerly known as Jin Bao Bao Holdings Limited. According to the company itself, it is "principally engaged in the business of (i) design, manufacture and sale of packaging products and structural components in the PRC; (ii) provision of corporate secretarial, consultancy and business valuation services; and (iii) property investment."

<span class="mw-page-title-main">Fullshare Holdings</span> Multinational investment company

Fullshare Holdings Limited is a multinational conglomerate and investment company. The company was established in Nanjing, China in 2002 and was listed on the Hong Kong stock exchange in December 2013. It also has offices in Hong Kong, Singapore, and Australia. Fullshare is primarily invested in property development and investment, education, healthcare, tourism and renewable energy.

An open-ended fund company is an open-ended collective investment scheme structured in the form of a company with limited liability and variable share capital. An OFC provides flexibility for investors to trade their interests in the fund through the creation, redemption and cancellation of shares. OFCs could be set up as public or private funds in Hong Kong.

<span class="mw-page-title-main">Lingjun Investment</span> China-based quantitative hedge fund

Lingjun Investment is a hedge fund management firm founded in 2014 that is headquartered in Beijing. It is one of the largest quantitative funds in China.

References

  1. 1 2 3 "Continuing Connected Transaction – Investment Advisory And Management Agreement And Notice Of Extraordinary General Meeting". Asia Capital Holdings Limited.
  2. ↑ "【Third Quarterly Report 2016】url=http://www.zzcapital.com.hk/news/Announcements/e8295_3QReport%202016.pdf".
  3. ↑ "Qatari Fund M&A Head Cho Joins Asian Capital Holdings as CEO" . Retrieved 2023-05-26.
  4. ↑ "【CHANGES IN DIRECTORS】url=http://www.zzcapital.com.hk/news/Announcements/e_Change%20of%20directors%20(20160512).pdf".
  5. ↑ "China Venture Capital & Private Equity Annual Ranking 2015" (PDF). pedaily.cn.
  6. ↑ "证监会通报2016年上半年私募基金专项检查执法情况".
  7. ↑ "【行政监管措施】关于对中植资本管理有限公司采取责令改正措施的决定" [Administrative Supervision Measures - Decision on Taking Corrective Measures against Zhongzhi Capital Management Co., Ltd.]. July 27, 2016. Archived from the original on November 4, 2016.
  8. 1 2 "中国证券投资基金业协会-私募基金管理人公示信息-中植资本".
  9. ↑ "【APPOINTMENT OF ALTERNATE DIRECTOR】url=http://www.zzcapital.com.hk/news/Announcements/e_Ann_App%20of%20Alternate%20Dir%20v2.pdf".
  10. ↑ "High Concentration of Shareholding in ZZ Capital International Limited (Stock Code: 08295)" (PDF). Securities and Futures Commission. 22 May 2019.
  11. ↑ "High Concentration of Shareholding in ZZ Capital International Limited (Stock Code: 08295)" (PDF). Securities and Futures Commission. 12 December 2019.
  12. ↑ "China Sets Up Task Force After Top Wealth Manager Misses Payment". Bloomberg.com. 2023-08-14. Retrieved 2023-08-16.
  13. 1 2 "中植资本： 用资本推动社会进步的践行者". finance.ifeng.com. Retrieved 2017-03-28.
  14. ↑ "The biggest financial sector deals of the year Asia-Pacific 2015" (PDF). deloitte.com. Deloitte.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.