China Net Finance, February 19 (Reporter Lu Kai) Recently, various trust companies have successively held 2024 work conferences to deploy the focus of work in the new year.
Back to basics
The former China Banking and Insurance Regulatory Commission pointed out in its 2023 work conference that trust companies should be guided to develop their original business and continue to dismantle "quasi-credit" shadow banking. The Asset Management Department of the State Administration of Financial Supervision also said that at present, among the three types of asset management institutions supervised by the State Administration of Financial Regulation, trust companies are more prominent in risk and face certain disposal pressure. It pointed out that trust companies, wealth management companies and insurance asset management companies will be guided to carry out differentiated competition while returning to their origins and focusing on their main business.
The reporter learned that in 2023, the trust industry will still be in the deep water area of transformation, but under the guidance of the new regulations on the "three classifications" of trust business, all trust companies have shown full confidence in the future. Zhu Yong, Secretary of the Party Committee and Chairman of Huaxin Trust, pointed out at the company's 2024 work conference that facing 2024, first, we must adhere to party building to lead development and do a good job in the "five major articles" of finance; Second, it is necessary to focus on the main business of trust, accelerate business transformation, and return to the origin of trust; Third, it is necessary to optimize the inherent layout and pursue a new value enhancement under the premise of controllable risks; Fourth, we must adhere to the bottom line of risk and comprehensively improve the level of compliance operation in accordance with the law; Fifth, it is necessary to promote the wealth brand and open up a new growth space for wealth management; Sixth, deepen management innovation and activate new impetus for high-quality development.
At the annual work conference, Industrial Trust emphasized that in 2024, all employees of the company should actively grasp the opportunities of industry transformation, improve the professional ability of trusteeship, and promote the transformation and development to be accelerated, the non-performing disposal to be tackled, the service level to be further improved, and the system reform to be deepened.
Zhuo Xinqiao, Secretary of the Board of Trustees and Chairman of China Shipping Trust Committee (proposed), emphasized that in 2024, we will firmly establish the sense of purpose of serving the real economy and the main business of the group, keep the bottom line of no malignant risk events, adhere to the general tone of seeking progress while maintaining stability, and strive to achieve the goal of self-pressurized operating income.
Zhu Yong, Secretary of the Party Committee and Chairman of Huaxin Trust, also said at the working meeting that in 2024, the company should adhere to party building to lead development and do a good job in the "five major articles" of finance; Focus on the main business of trust, accelerate business transformation, and return to the origin of trust; Optimize the inherent layout and pursue a new value enhancement under the premise of controllable risks; Adhere to the bottom line of risks, and comprehensively improve the level of legal and compliance operations; Promote wealth brands and open up new growth space for wealth management; Deepen management innovation and activate new impetus for high-quality development.
At its 2024 work conference, Zhejin Trust pointed out that it will focus on key tasks such as party building guidance, business innovation, risk prevention and control, and governance improvement, accelerate the formation of a joint force for transformation and development, cultivate and expand the increment of innovative business, improve the quality of business development, and promote the company's development to be comprehensively improved, comprehensively innovated, comprehensively enterprising, and comprehensively breakthrough.
Wu Chun, Secretary of the Party Committee and General Manager (proposed) of Aijian Trust, pointed out in the 2023 annual work report that in 2024, the company will gather new consensus, strive for new breakthroughs, continue to base itself on the origin of trust, focus on "breaking the situation and innovation, collaboration and win-win", and strive to do a good job in six aspects: first, adhere to the long-term mechanism, promote risk disposal, and enhance defense capabilities; the second is to standardize compliance governance, follow regulatory ratings, and improve the level of development; the third is to strengthen professional services, accelerate the "two wings" to fly together, and promote integration capabilities; Fourth, deepen consumer protection management, promote mechanism reform, and cultivate "hematopoietic" ability; Fifth, strengthen the cultivation of talents, emphasize responsibility, and forge a strong team; Sixth, adhere to the guidance of party building, strengthen organizational construction, and serve the overall situation of development.
Transformation is under pressure
Xing Cheng, a researcher at the Center for Finance and Law at Tsinghua University Law School, once said in an article that the trust industry is facing many challenges such as restrictions on traditional business and escalating transformation pressure under the guidance of policies such as new regulations on asset management, new regulations on fund trusts, and new regulations on the classification of trust business.
The data shows that despite many challenges, the overall operating performance of trust companies has stabilized and improved. At the end of the third quarter of 2023, the trust company achieved an operating income of 6512.3 billion yuan, with a total profit of 4062 billion yuan, per capita profit of 154870,000 yuan, the profit indicators maintained positive growth year-on-year, and stabilized to the level of the same period last year.
In addition, not long ago, 52 trust companies disclosed unaudited financial statements for 2023 through the interbank lending market or **, showing that the performance of trust companies is under significant pressure, but the scale of net assets still grows, which is conducive to the consolidation of the industry's ability to resist risks.
52 trust companies will achieve a total revenue of 981 in 20237.3 billion yuan, significantly lower than the level of the same period in 2022, down 1126%；The total income of trust business was 581200 million yuan, a year-on-year decrease of 1977%；The total income of trust business was 581200 million yuan, a year-on-year decrease of 1977%；The total profit was 4721.7 billion yuan, a year-on-year decrease of 1463%；The industry achieved a net profit of 3705.6 billion yuan, a year-on-year decrease of 1413%, only 45% of the trust company's net profit maintained growth; The net assets of 52 trust companies in the industry increased by 149%；52 companies in the industry have an ROE of 513%, compared to 58%, the industry's ROE level fell slightly by 067pct。
In this regard, Shuai Guorang, a researcher at the usufruct trust, analyzed that from the performance of the 52 trust companies that have been disclosed, the operating income and net profit of nearly half of the trust companies have declined year-on-year, indicating that many trust companies are facing greater operating pressure, the new business growth point is not yet mature, and the development of the industry has a long way to go. However, under the pressure of the overall performance of the industry, the performance of some trust companies is more significant, and the growth is better than the overall level of the industry, such as: COFCO Trust, Huaxin Trust, Yingda Trust, Jiangsu Trust, Huabao Trust, etc. At the same time, the differentiation between industries has further intensified, with nearly 75% of the operating income created by the top 20% of trust companies, and the head companies have obvious advantages, and the situation of strong and weak differentiation of trust companies has been further intensified.
Editor in charge: Zhu He).