China Orient Asset Management Co., Ltd. is a
Chinese distressed asset management company headquartered in Beijing. The company is an
asset management
Asset management is a systematic approach to the governance and realization of all value for which a group or entity is responsible. It may apply both to tangible assets (physical objects such as complex process or manufacturing plants, infrastr ...
company and a
merchant bank
A merchant bank is historically a bank dealing in commercial loans and investment. In modern British usage, it is the same as an investment bank. Merchant banks were the first modern banks and evolved from medieval merchants who traded in comm ...
originated as a
bad bank
A bad bank is a corporate structure which isolates illiquid and high risk assets (typically non-performing loans) held by a bank or a financial organisation, or perhaps a group of banks or financial organisations. A bank may accumulate a large p ...
for the
Bank of China
The Bank of China (BOC; ; Portuguese language, Portuguese: ''Banco da China'') is a state-owned Chinese Multinational corporation, multinational banking and financial services corporation headquartered in Beijing, Beijing, China. It is one of ...
. The bank received shares from
debt-to-equity swap of
non-performing loan
A non-performing loan (NPL) is a bank loan that is subject to late repayment or is unlikely to be repaid by the borrower in full. Non-performing loans represent a major challenge for the banking sector, as they reduce profitability. They are ofte ...
s. It is a state-owned enterprise.
The corporation runs in two major business units since 2006, one for general commercial activities (), one for the management of the shares that converted from non-performing loans (), which was classified as
assets under management
In finance, assets under management (AUM), sometimes called fund under management, refers to the total market value of all financial assets that a financial institution—such as a mutual fund, venture capital firm, or depository institutio ...
.
[
In 2016 the corporation was re-incorporated as a "company limited by shares" (): China Orient Asset Management Co., Ltd. () from China Orient Asset Management Corporation (COAMC, ). the National Social Security Fund and the Ministry of Finance were the shareholders. According to the company's news press, as of 30 June 2016 its net assets stood at . The former non-performing assets under management were converted to share capital, raising from to .
]
History
Founded as a bad bank of Bank of China
The Bank of China (BOC; ; Portuguese language, Portuguese: ''Banco da China'') is a state-owned Chinese Multinational corporation, multinational banking and financial services corporation headquartered in Beijing, Beijing, China. It is one of ...
, Orient Asset also received Bank of China's asset management subsidiary Bangxin Asset Management in 2000, which itself was incorporated in 1994 as a subsidiary of BoC Shenzhen branch.
In 2015 the group expanded as a full service financial conglomerate by acquiring the Bank of Dalian.
Subsidiaries
* Doho Data Consulting Company
* Dong Yin Development (Holdings) (100%)dim sum bond Dim sum bonds are bonds issued outside of China but denominated in Chinese renminbi, rather than the local currency. They are named after dim sum, a popular style of cuisine in southern China. They are a type of eurobond.
Unlike panda bonds, di ...
)
* Bangxin Asset Management (100%)
* Bank of Dalian (39.70%)
* China United Insurance Holding (51.01%)
* Dongxing Securities (58.09%, )
* (a Credit rating
A credit rating is an evaluation of the credit risk of a prospective debtor (an individual, a business, company or a government). It is the practice of predicting or forecasting the ability of a supposed debtor to pay back the debt or default. The ...
service provider)
Portfolio companies
* Baiyin Nonferrous
Baiyin Nonferrous Group Co., Ltd. ( zh, 白银有色集团股份有限公司), also known as BNMC, is a major Chinese state-owned enterprise involved in the mining, smelting, and processing of nonferrous metals, including copper, lead, zinc, silv ...
(0.63%)
* Dongbei Special Steel (16.6740%)
* Meishan Iron and Steel (7.02%)
* Shandong Jining Ruyi Woolen Textile (12.24%, )
* Shanghai Zendai Property (via COS Greater China Special Situations Fund for 18.17%, )
Former portfolio companies
* China Kejian Co., Ltd. ()
* Dongfeng Motor Group
Dongfeng Motor Group Co., Ltd., doing business as DFG, is a Chinese holding company based in Wuhan, Hubei. Its H shares were listed on the Hong Kong stock exchange.
Dongfeng Motor Group formed several joint ventures with other foreign automobi ...
(2001–2004)
* Rising Nonferrous Metals ()
References
External links
*
{{authority control
Companies based in Beijing
Investment management companies of China
Financial services companies of China
Government-owned companies of China
Asset management companies