1.4 billion incorporated into the fund China Bao Stone

The day of 2009, the Chinese Insurance Group Limited (hereinafter referred to as "the Chinese Insurance") to the Big fund Management Limited (hereinafter referred to as the "big Fund") into its own subsidiary, but also become the first Direct holding fund company insurance companies. December 31, the new Huangpu (600638SH) announced that the company shares 29.97% of the subsidiary of the Sino-Thai Trust to be transferred by agreement to the Chinese to protect the transfer of the 48% Large fund management company equity. The valuation value of the transfer price is 1.3989 billion yuan.　　This is also the Chinese security Integration "Hua Wen Department" step, makes the Sino-Thai trusts to reshape, concentrates on the trust main business. For the Chinese insurance why the indirect holding of the big fund to get their own direct name, an insurance analyst explained that the Chinese insurance company because it is a PICC, in the scale has been unable to compete with Chinese longevity, China Ping ' an and other companies, the gap is great.　　It is imperative for the PICC to have a more important position in the insurance industry. 1.3989 billion may be affected by the transfer of shares, the morning of December 31, the new Huangpu shares soared to 17.27 yuan/share, up 9%. "14.5 yuan per share is definitely a fair price for the Sino-Thai Trust.　　A person from the PICC company told reporters. The shareholders of the big fund include the Sino-Thai Trust, Everbright Securities Co., Ltd., China Galaxy Investment Management Limited and Guangdong Securities Company Limited, the Sino-Thai Trust holding 48%, the other three total shareholding 52%.　　Prior to that, the Chinese insured held a stake in the Sino-Thai Trust through the China-smelling holdings. The said source said that the transfer price after repeated, based on March 31, 2009 for the value of the evaluation of the base day agreed. and 14.5 yuan/share price has a premium of more than 7 times times.　　According to the current 200 million registered capital of the large fund, 1.3989 billion corresponds to 48% of the equity, the transfer price of about 14.5 yuan per share, indicating that the Sino-Thai Trust has a large fund of the cost price of about 2 yuan/share. A person familiar with the matter believes that PICC integrates asset management operations, and that in terms of controlling rights, the big fund has no problem with technical operations-as in a large family, it does not need real money to put his grandson's property under his grandfather's name.　　But in the end the PICC chose the way to buy the money. "This is actually a winning strategy, both directly control the stake in the fund, but also to help the Sino-Thai Trust to obtain additional capital of much-needed cash, but also to comb the Chinese smell of the stock rights of a strategic arrangement." "The people in the company explained.　　[Page] to reshape the Sino-Thai Trust has been an important financing platform in China, and the Chinese department also refers to the Canton (Nanning) Investment Co., Ltd., Hua Wen Holdings, Shanghai Xinhua smell and its enterprises. "Now, after nearly a year of carding, now the Sino-Thai Trust is very ' clean ', no historical debt, its industrial assets have been stripped, will focus on the trust business.　　People familiar with the matter said. The person revealed that 1.4 billion of the funds involved in the stake in the big fund will be turnedFor the Sino-Thai Trust, the registered capital of the Sino-Thai Trust will increase to 2 billion. For historical reasons, the Sino-Thai Trust once in the industry "disappeared", most of the business was suspended. With the success of the Sino-Thai Trust, it will return to the main business of trust.　　A person said, hope it really do big trust business, become the Asset Management Business section of the main force.　　It is understood that the current Sino-Thai Trust's immediate goal is that 2010 business in the last year, the basis of double, 2011 to double, to enhance the company's regulatory rating. Then the Sino-Thai Trust will be adjusted on the management structure. A Chinese Pakau said, "There is no independent director in the Board of Trustees of the Sino-Thai Trust, for which reason, the Sino-Thai Trust wants to perfect the corporate governance structure." "The representative of the Sino-Thai Trust has Beichuan, and was also the president of the China-smelling holdings." Six months ago, the Sino-Thai Trust made a 5-point request, if the annual business objectives as soon as the "target Guide" to the form of decomposition to the team members, followed by the implementation of the change of license commitments, to be unable to complete the matter to be completed prior communication, to obtain understanding; Moreover, the personnel management work should comply with the relevant provisions of the PICC Group, To seize the appointment of the Secretary of the Board and the Office of the Board of Directors, Audit Audit, Investment bank, Beijing department, Human Resources and other departments; the third is business development to consider and pay attention to the Beijing area of the channel and project development, the last is to arrange a person to follow the research Trust and endowment Insurance　　Prepare for the future business positioning of the Sino-Thai Trust.　　A person familiar with the situation said that the Chinese security after the completion of the large fund equity transfer, as well as the operation and development of the Sino-Thai Trust, the next, there are some related equity relations to be further combed, but at present, China's stock rights integration path has been basically clear. "Hua Wen's contribution to China's profits is not yet calculated, the year-end settlement may be consolidated statements, but these assets are undoubtedly conducive to Chinese insurance IPO." A Chinese Pakau said.