After Li Junfeng proposed to be the chairman of Great Wall assets, China Cinda (01359. HK), one of the four AMCs, also welcomed the new chairman.
On March 16, China Cinda announced that Zhang ziai, chairman of the company, planned to resign due to his age. The third meeting of the board of directors of the company in 2022 passed a proposal on the election of the chairman of the board of directors, and elected Zhang Weidong as the chairman of the company. He will perform his duties after the CBRC approves his qualification, and the term of office of the chairman of the board of directors expires.
According to his resume, Zhang Weidong was born in 1967 and graduated from Tongji University with a bachelor’s degree in engineering in 1989; He graduated from Renmin University of China in 1992 with a master’s degree in economics. With the title of senior economist.
From July 1992 to April 1999, he worked in China Construction Bank Corporation(601939) China and once served as a cadre and deputy director of the real estate credit department. He joined China Cinda in April 1999 and has successively served as deputy director of the company’s asset appraisal department, general manager of the asset appraisal department, general manager of the market development department, director of the restructuring leading group office, director of the Yinzhan listing leading group office, director of the listing leading group office, general manager of the investment and financing management department since September 2002 Secretary of the board of directors (general manager of strategic development department, director of financial risk research center, director of post doctoral Management Office), assistant to the president, etc.
From November 2015 to October 2019, Zhang Weidong successively served as executive director, vice president and President of China Trust Industry guarantee fund Co., Ltd. Since January 2020, he has served as the executive director and President of China Cinda. Since November 2020, he has also served as the non-executive director and chairman of Nanshan Hong Kong. Since March 2022, he has served as the party secretary of China Xinda.
According to the official website, China Cinda, formerly known as China Cinda Asset Management Company, was established in April 1999. It is the first financial asset management company approved by the State Council. In June 2010, China Xinda Asset Management Company was restructured into a joint stock limited company. On December 12, 2013, China Cinda was listed on the main board of the stock exchange of Hong Kong, becoming the first Chinese financial asset management company to land on the international capital market.
At present, China Cinda has 33 branches (including Hefei Backup Base Management Center), and its platform subsidiaries engaged in non-performing asset management and financial service business include Nanyang Commercial Bank, Cinda securities, Golden Valley trust, Cinda financial leasing, Cinda Hong Kong, Cinda investment, China Resources Development, etc. The group has more than 13000 employees.
By the end of 2020, China Cinda had total assets of RMB 1518084 billion, shareholders’ equity attributable to the company of RMB 172109 billion, total income from continuing operations of RMB 100134 billion, and net profit attributable to shareholders of the company of RMB 13.248 billion in the whole year.
It is worth mentioning that in the process of China Huarong’s capital increase, China Huarong considered and adopted the proposal on the non-public development of domestic shares and H shares of China Huarong Asset Management Co., Ltd. at the 13th board of directors. The capital increase scale did not exceed 42 billion yuan, and the issuance was completed on December 30, 2021. Among them, China Cinda subscribed 3.922 billion shares, accounting for 4.89% of the total issued share capital of China Huarong.
