Established in February 2005, Beijing Guotong Asset Management Co., Ltd (hereinafter referred to as “Guotong Asset Management”) is an important asset management platform wholly funded and initiated by BSAM. In 2014, authorized by Beijing Municipal People’s Government and registered by the former CBRC, Guotong Asset Management became the first local asset management company in Beijing. In June 2020, Guotong Asset Management received capital increase of RMB 1 billion from shareholders so that registered capital totaled RMB 2 billion. In February 2021, with approval of Beijing Municipal Bureau of Local Financial Regulation and Supervision, as a local asset management company, Guotong Asset Management was the first to be approved for the pilots for transfer of single-account corporate non-performing loans and batch transfer of individual non-performing loans.
Since its inception, Guotong Asset Management has always set foothold on acquisition and disposal of non-performing assets at the core. Guotong Asset Management not only constantly improves the disposal system of creditor’s rights, stock equities, physical assets and other multi-form assets, but also develops the unique competitive strength in acquisition, disposal, operation, revitalization and custody service of assets. According to performance evaluation results of financial enterprises in 2018, 2019 and 2020, released by Beijing Municipal Finance Bureau, Guotong Asset Management was evaluated “Excellent” (AA-grade)” twice and “Excellent (AAA-grade)” once. In 2020, it also demonstrated excellent business performance among financial enterprises of other types in China. Guotong Asset Management also won “Award of Innovation and Development Practice for Year 2018”, “Excellent Case Award of Local AMC for Year 2018” and “Award of the Most Socially Responsible Local AMC for Year 2019” at Chinese Local AMC Forum, and “Outstanding Contribution Award of Chinese Fund Industry for Year 2020” at the 6th China M&A Fund Annual Conference.
By the end of 2021, non-performing assets of more than RMB 70 billion had been successfully acquired and disposed of, while ten debt-to-equity swap projects had been successively completed, liquidizing assets of nearly RMB 5 billion. Guotong Asset Management offers professional disposal solutions and services for non-performing loans involved in a number of major illegal fund-raising cases, and plays an important role in effectively preventing and defusing financial risks of Beijing and giving impetuses to transformation and upgrading of the real economy.
Guotong Asset Management will continuously uphold the core values of “pragmatism, innovation, legitimacy and added value”, lay stress on main business of non-performing assets, make every effort to prop up the development of the real economy, and strive to make greater contributions to maintaining the financial order of Beijing and keeping the overall development of Beijing in mind.
