Societe generale capital management 5 years: five years of gonggeng do not compose, the road ahead of the valiant duxing

2022-05-10 0 By

February day, located in the Bank of the Minjiang River xingye Asset Management Co., Ltd. ushered in the fifth birthday.Five years ago, in order to better serve local governments to resolve regional financial risks and optimize financial ecology, Industrial Bank Group holding subsidiary – Industrial Asset Management was born.Authorized and approved by the Fujian Provincial government and put on record by the China Banking and Insurance Regulatory Commission, the company has become the second provincial asset management company in Fujian province with the qualification of batch acquisition and disposal of non-performing assets of financial enterprises and the first domestic “bank-based” local asset management company.For the past five years, industrial information technology based on local asset management, function orientation, adhere to the party leading the promoting development, stick to the beginner’s mind mission risk, show as a firm ideal faith, persist industrial culture gene, thrift school, keep innovation, deepening financial bad assets in the main, extend special assets management value chain, relying on societe generale group operation, comprehensive financial advantage of license plates,We will actively innovate flexible and efficient means for the acquisition, management and disposal of non-performing assets to help financial institutions dispose of non-performing assets and defuse regional financial risks.Party building lead, flag oriented strong foundation tide from the southeast, the east wind is strong.Founded in February 2017, Xingye Asset Management was racing against time to seek development. With the enterprising spirit of Xingye people who love to fight and win, it collected and stored nearly 20 billion yuan of special assets creditor’s rights and disposed of nearly 7 billion yuan in the opening year, which had a good start.In March 2018, the emerging Industrial asset management first appeared in Fuzhou to hold the “Industrial S Gold mining” special assets industry forum and asset promotion meeting, nearly 100 special assets industry institutions gathered in The business relationship, seeking development, market influence further expanded.Since its establishment, industrial information technology continues to focus on the main business, widen the channel of the bad assets, improve the online disposal mechanism, continue to play a role of integration of resources, to revitalize the unique features of the stock, has invested 33 billion yuan, purchase all kinds of special assets of nearly 110 billion yuan, total amount of the claims disposal of creditor’s rights and total more than 55 billion yuan.By the end of 2021, the total assets exceeded 25 billion yuan, the accumulated net profit reached nearly 900 million yuan, and the tax payment exceeded 500 million yuan. The company has been awarded AAA main credit rating by authoritative rating agencies for four consecutive years.Red boat ferrying, high gather energy.As a new force in the sustainable and high-quality development of New Fujian province and a holding subsidiary of Industrial Bank, the growth of Industrial Asset Management has attracted the attention of Fujian Provincial Party Committee and The Party Committee of Industrial Bank.In February 2019, the General Branch of the Party under the Management of Industrial Assets was formally transformed into a Party committee, which wrote the Leadership of the Party into the articles of association of the Company, established the leadership core position of the Party in corporate governance, and steered the company’s operation and development into a new channel.In July 2020, societe generale party committee clearly socgen could “functional unit” members of the group orientation, science into group comprehensive financial spectrum, was the “bank” natural endowment, as a special professional licenses, give full play to the whole system of special marketization operation platform, good internal work of regional financial risk chemical defense ability,Truly achieve “people in Fujian, industry in Fujian, in Fujian”.In March 2021, in the operation of “integration” societe generale group of special property development background, the industrial bank of party committee of the board of directors of the company and team members to adjust, the headquarters of the special asset sales department chief of societe generale tube party secretary, chairman of the board of directors, solidarity and lead the company personnel to seriously implement the superior party committee requirements,Consciously grasp the group strategy of “firm + investment Banks” essence, hardcore focusing on “fujian, service group” work center, along the “pays special attention to the group coordination, good market development” the management direction, feet to act to achieve the function of specific assets management “integration” of wanda fusion, fusion, fusion mechanism, to intensify the function orientation, industrial informationContinuously improve the management level of the company.At the just-held 2022 working conference, the principal person in charge of Industrial Bank Asset Management proposed to strengthen the property of the asset company’s main business and the positioning of the group’s functional subsidiaries, closely focus on the development focus of Fujian Province and the strategy of Industrial Bank Group, and adhere to the work center of “serving Fujian And Serving The Group”.We should continue to adhere to the general principle of “seeking progress while ensuring stability and making progress while ensuring stability”, and focus on ensuring steady growth, promoting development, improving efficiency, and expanding transformation.It is necessary to grasp the traditional non-performing assets collection office, grasp the transformation of special capital operation into investment banking, systematically plan the construction of special capital ecosystem and digital operation, go all out to take the opportunities, return to the source and keep the bottom line, and make greater and more effective contributions to the high-quality development of Fujian.Last August, the CBRC issued the Draft of The Interim Measures on Supervision and Administration of Local Asset Management Companies for comments.In December, the central bank issued a draft of the Regulations on Local Financial Supervision and Regulation for public comment.The new regulations are ready to come out, releasing the signal of “focusing on the main business, deleveraging, strengthening supervision and preventing risks” for local AMC.How to accelerate the return to the main business, from the virtual to the real, is a major proposition facing the local AMC.Industrial capital management of the party’s leadership, take the initiative to close to the supervision, actively adjust the business structure, around the disposal of non-performing assets, management and revitalization, more than the strength of the special capital business scale.Data show that in 2021, the company has achieved a total investment of 10.8 billion yuan in various businesses, of which the investment in the main business of special capital operation accounts for more than 70%.By the end of 2021, the balance of special assets of the company is 15.4 billion yuan, accounting for more than 65% of the total assets.Five years of trials and trials, from “packaging and discount litigation” to “restructuring, restructuring and reconstruction”, Industrial Capital Management actively docking Fujian financial institutions and regional rescue enterprises, comprehensive implementation of market-oriented debt-equity swap, debt restructuring, asset restructuring, bankruptcy restructuring and other rescue tools, the use of diversified investment banking thinking to coordinate the disposal of non-performing assets;To establish a wholly-owned private equity fund management company, pay close attention to the existing risks in the economic and financial fields, promote the integration of industry and finance, and explore solutions to complex problems such as “acquisition + revitalizing” and “acquisition + integrated financial services”.At present, the company has established cooperative relations with nearly 20 financial institutions in Fujian province in terms of credit, quasi-credit and non-credit special capital business. By the end of 2021, the total amount of net capital creditor’s rights of fujian province has exceeded 93 billion yuan, and its market share is leading in the region.The total amount of creditor’s rights dealt with was about 44 billion yuan, benefiting nearly 1,000 enterprises. During this period, there were many successful cases of helping enterprises in debt difficulties and working with the real economy to overcome difficulties.Jian ‘ou Fangsheng Chi Shantytown (old city) reconstruction project is the local concentrated shantytown reconstruction key project, covering an area of 550 mu.”Shanty reform” soon began, the developer company capital chain fracture, unable to repay the bank loan, was forced to stop construction.Considering that the project has a large volume and involves many residents, which is related to the image of local municipal government and the stability of people’s livelihood, Industrial Asset Management acquired the non-performing creditor’s rights from creditor banks through open channels, overcame various difficulties such as “forced execution” of non-performing creditor’s rights and “failed auction of mortgage for many times”, and dug up the property clues of the guarantor.Then, the relevant local departments were linked to carry out substantive restructuring through auction and secondary transfer to subordinate platforms, and the innovative introduction of “present value method” public bidding and “installment” mode to reduce the debt repayment pressure, and finally alleviate the debt crisis of the construction party, and press the restart button of “renovation”.Located in Zhangzhou Gulei economic Development Zone, TLXL series of enterprises mainly petrochemical, business is difficult to continue.Critical juncture, societe generale could undertake restructuring FHC petrochemical company set up a new subject of marketization of debt turn project, successfully established private equity fund the transferee creditor bank convertible shares held by the creditor’s rights, the implementation of convertible form FHC non-listed company’s equity, assigned personnel as company directors, not only to assist creditors disposal of risk assets, also help borrowers would optimize the corporate governance,Improve operational efficiency.After continuous rectification and repair, all installations of the target company have resumed production, and equity acquisition is now being implemented.On January 29, at the “good start” financing meeting for financial support in the first quarter jointly held by Fuzhou Municipal People’s Government and Fujian Provincial Financial Regulatory Bureau, xingrui Green Special Opportunity Equity Investment Fund, which is planned to be launched by Industrial Capital Management and set up with a scale of 3 billion yuan, signed a cooperation agreement with Gulou District People’s Government.According to the agreement, the fund will settle in Zhu Zifang Fund Port in Gulou District, and lend its strength to the green industry non-performing assets in Fujian Province.This is societe Generale asset management issued at the end of last year “comprehensive service fujian” four economic development guidance “after the first official announcement action.”Guidance” on “fujian green economy, digital economy, Marine economy, the text brigade”, in place of the examinations “difference”, to the societe generale information Internet made further planning, main responsibility is mainly use a line radiation hydropower station, real estate, the listed company reorganization reorganization business classes and affordable rental housing, rent the apartment, emerging business such as green finance.Previously, societe generale could also fell to the ground in the mawei fund town four private-equity funds, registered scale, a total of nearly one hundred million yuan, focus on new materials, new energy, energy conservation, environmental protection, and big consumption, health, for related start-ups, private enterprises, or soes mix the project running water injection of new funds, asset management services, real reduce corporate leverage,We will increase support for the real economy and fend off financial risks.Recently, China’s AMC industry presents a multi-dimensional pattern of “5+2+AIC+ foreign-funded system +N”, with more and more participants and increasingly fierce market competition.In comparison, although local AMCs have irreplaceable features such as geography and popularity, they are generally small in size and still face development obstacles to a certain extent due to the economic cycle downturn and regional exhibition industry.If you want to break out and find a way, the key is to improve their professional ability., industrial information technology since its inception has been to obtain the private equity fund managers, marketization of bonds convertible implementing agencies, administrators and other business qualification, selected China special assets of 50 people, one of the first member of BBS, awarded by China’s local AMC BBS “annual leading development excellence award, China special assets 50 people BBS” good example “award, etc.In September 2020, Xiamen Intermediate People’s Court issued the Announcement of The Preliminary Review List and Grading Review Results on the Update of the List of Bankruptcy Administrators. Xingye Asset Management successfully passed the review and was shortlisted, becoming one of the few local AMC with bankruptcy administrator business qualification.”Bankruptcy administrator” qualification, fully reflects the judicial level of industrial asset management professional ability recognition.Bankruptcy cases involve bankruptcy property custody, valuation, liquidation, distribution and other heavy and complicated work, often mixed with a large number of theoretical, practical strong legal affairs and non-legal affairs.To become a “bankruptcy manager” will help industrial asset management brand upgrade, stand out from the fierce market competition, deeply participate in debt restructuring, bankruptcy restructuring and other problems of the enterprise rescue, rescue more rescued enterprises restructuring, new life.Local AMCs are on the rise, and their risk, compliance and internal control capabilities should not be underestimated on the way to “turning everything into gold” and “re-creating value”.In the “banking system”, Societe Generale asset Management has always been based on the group’s unified credit granting, established and improved its own business access standards, and improved authorization and sub-authorization arrangements;Always take bank credit due diligence as the reference, establish and improve their own clues to check means, improve the valuation and examination and approval system.In addition, we attach great importance to the management of disposal plan, and build a “parallel operation” and “green channel” supporting mechanism combining the center and the front desk. We advance the review function to the design of business plan, train the company’s lawyers, bring in the lawyers on duty from outside, follow up the incentives and constraints synchronously, and reduce the endogenous risk index from multiple angles.Relying on the resources endowment societe generale group, societe generale could apply external information integration ability, hierarchical classification to build, including financial institutions, intermediary institutions, secondary investors, the “bad” upstream and downstream circle of friends, strengthen the head with the industry enterprise investment company, financial assets, the asset appraisal companies, Banks, law firms, investment Banks, brokerage and other links,With “legion” iteration “go it alone”, has a number of long-term and stable customer base.The rich and active circle of friends also benefits the financing plate of industrial capital management.”Investment and financing linkage” is one of the financing strategies of Industrial Capital Management. It focuses on “investment” to enhance the stickiness of financial institutions in the ecosystem, drive the increase of the number and products of “financing” bank cooperation, capital accumulation and reasonable matching of assets and liabilities, which is conducive to the use of investment funds and the landing of investment projects.Up to now, the bank credit line of Industrial Asset management has exceeded 70 billion yuan, and the cumulative issuance of bonds has reached nearly 12 billion yuan, basically covering the whole variety of “two markets” bonds, highlighting its own “hematology” ability and entity “blood transfusion” ability.At present, big data and artificial intelligence are not only rapidly changing the operating environment of the traditional financial industry, but also profoundly affecting the operation and management of the special asset industry.Self-producing group digital transformation strategy, industrial pipe has been associated with societe generale special asset sales department set up a “special digital transformation of science and technology group, the two sides are jointly push set” efficiency, precision and fusion, platform “in the integration of information technology construction of wisdom, together to build special scenes ecosystem, for the whole industry in order to get through the barriers of time and space of all kinds of main body,Play the role of digital engine in due diligence, asset pricing, value discovery, matching transactions and other nodes, shorten the asset disposal cycle, control the risk of asset disposal, and enhance the effectiveness of asset disposal.Five years of gonggeng do not compose, the road ahead of the valiant Benedict line.Standing at a new starting point, into the new pattern of industrial information technology will continue to persist red gene, strengthen the industrial culture, stick to the function orientation, deep special asset management business and improving professional management ability, closely around fujian regional development strategy, to guard against defuse financial risks, service entity economic development play a powerful role in structural reform and support the supply side,Strive to advance the development vision of “domestic first-class comprehensive service provider of special assets”, and make new and greater contributions to the chapter of fujian’s comprehensive construction of a modern socialist country.Source: Fujian Daily New Fujian App