On April 22, Jingwei Textile Machinery Company Limited(000666) ( Jingwei Textile Machinery Company Limited(000666) . SZ), the dual main business of “textile machinery + trust”, released the annual report of 2021, which, as its holding subsidiary, disclosed the annual operation of Zhongrong trust at the same time.
By the end of 2021, Zhongrong trust had total assets of 32.716 billion yuan and net assets of 21.707 billion yuan. In 2021, the operating revenue was 5.676 billion yuan, a year-on-year increase of 6.87%; The net profit was 1.487 billion yuan, a year-on-year increase of 7.79%.
Figure: performance of Zhongrong trust in 2021. Source: Announcement
Business performance increased, but affected by the new regulations on asset management, the company’s asset management scale continued to decline, falling below 650 billion yuan.
At the end of 2021, there were 1187 existing trust plans of Zhongrong trust, with entrusted assets of 638.73 billion yuan, with a year-on-year decrease of 10.99%. In terms of investment fields, industry, financial institutions and real estate account for the top, accounting for 40.61%, 32.52% and 14.02% respectively.
Figure: asset scale of Zhongrong trust. Source: Announcement
In recent years, the storm of Zhongrong trust has been continuous, which has been affected by the debt crisis of real estate enterprises one after another. Since January 2021, Zhongrong Jida No. 11 and Zhongrong Rongyu No. 100 have defaulted successively, and many products have been involved in China Fortune Land Development Co.Ltd(600340) , and the two sides have been deadlocked. Recently, another 1.6 billion yuan trust product was announced to be extended for 25 months. The target project is Shimao Zhongshan Xinguang world project.
Jingwei Textile Machinery Company Limited(000666) in the annual report, we are honest that under the joint action of market and supervision, the pressure of transformation still exists, and the business of Zhongrong trust capital market develops slowly.
In other businesses, Zhongrong trust has developed rapidly in standardized securities investment business, bond distribution business, urban stock property renewal business, consumer finance business, supply chain finance business, family trust and other fields.
The proposal of the board of directors on increasing the registered capital of the company by RMB 662.6 billion was disclosed in the annual report of the board of directors of the company on June 2026, which is worthy of the consideration of the undistributed profit of RMB 662.6 billion. After the conversion, the registered capital of Zhongrong trust increased from 12 billion yuan to 14.668 billion yuan, and the shareholding ratio of each shareholder remained unchanged. As of the disclosure date of this report, Zhongrong trust has not completed the industrial and commercial change registration.
Jingwei Textile Machinery Company Limited(000666) said that the trust industry needs to increase its net capital strength, and strengthening net capital management will become an important way to improve the competitive strength of trust companies.
Zhongrong trust was founded in 1987, formerly known as Harbin International Trust and investment company. At present, the registered capital is 12 billion yuan, and Jingwei Textile Machinery Company Limited(000666) , Zhongzhi enterprise group holds 37.47% and 32.99% respectively.
In December 2021, Zhongzhi enterprise group issued an obituary saying that Xie Zhikun, the founder of the company, died in Beijing at 9:40 on December 18, 2021, at the age of 61, due to ineffective rescue of a heart attack. Then, entrusted by Mr. Xie Zhikun’s family and discussed and decided by the group’s management, Mr. Liu Yang, chairman of Zhongrong trust, temporarily presided over the overall work of Zhongzhi enterprise group.
