Hunan Caixin Asset Management Co., Ltd.

Caixin Asset (hereinafter referred to as the Company) is a provincial-level local asset management company approved by the People's Government of Hunan Province, filed with the Ministry of Finance, and granted business qualifications by the China Banking and Insurance Regulatory Commission (CBIRC). The Company was established in December 2015 and obtained approval from the CBIRC in October 2016 to carry out the qualification for batch acquisition and disposal of financial non-performing assets. It is a large key state-owned enterprise directly under the Hunan Provincial Government and a core enterprise under Hunan Caixin Financial Holding Group Co., Ltd., a provincial-level local financial holding platform in Hunan.
　　At present, the Company has a registered capital of 3 billion yuan, total assets of 15.1 billion yuan, and managed assets of 25.1 billion yuan, with a long-term entity credit rating of AAA. The Company mainly undertakes the acquisition and disposal of non-performing assets of financial enterprises within the province, relief of distressed enterprises, revitalization of idle assets, resolution of hidden debt risks of local governments, bankruptcy management, and other businesses. It also provides professional investment services through private equity funds, market-oriented debt-to-equity swaps, asset securitization, and other means. The Company currently has 14 subsidiaries, including: a wholly-owned subsidiary — Hunan Caixin Changqin Fund Management Co., Ltd., which focuses on private equity fund management; 11 controlled subsidiaries, which are city/prefecture-level asset management companies established by the Company in cooperation with the governments of Loudi, Xiangtan, Hengyang, Shaoyang, Huaihua, Zhuzhou, Chenzhou, Xiangxi, Yongzhou, Yueyang, and Changde in the province, mainly committed to resolving city/prefecture-level financial risks and promoting city/prefecture-level economic development; and 2 equity-participating subsidiaries, one of which is Hunan Caixin Shilian Commercial Operation Management Co., Ltd., a joint venture established with Shenzhen World Union Properties Co., Ltd., mainly engaged in asset operation and management, investment decision-making consulting, asset valuation and pricing, asset investment promotion and operation, sales destocking, post-investment management, and other businesses. The other equity-participating subsidiary, Hunan Xiangzi Jingjin Liquidation Service Co., Ltd., is mainly engaged in enterprise bankruptcy reorganization and liquidation administrator affairs, enterprise bankruptcy affairs consulting services, enterprise asset reorganization and creditor's rights and debt reorganization consulting services, and other businesses.
　　Since its establishment, the Company has adhered to the development strategy of "focusing on the main business, benefiting the real economy, and cultivating Hunan deeply," taking the prevention and resolution of financial risks as its main business line, serving financial institutions, local governments, and real enterprises, relying on the shareholders' abundant resources of a full financial license, providing professional financial services to customers through multiple means and in an all-round manner, striving to fulfill the social functions of "stabilizer of local financial risks, optimizer of non-performing asset disposal, and propeller of industrial structure upgrading," and committed to building itself into a professional enabling investor for distressed assets.