68 trust companies have recently released 2018 annual reports. Guangzhou Daily’s all-media reporter’s statistics found that both trust profit and asset size fell, with more than 40Net profitThere were negative growth, with 22 trust companies with a net profit falling by more than 20%.
CITIC Trust is the most profitable
From the trust industry in 2018PerformanceIn terms of performance, CITIC Trust ranked first in the industry with a net profit of 3.42 billion yuan. The "reports" of the two independent listed trust companies in 2018 are not ideal: Shaanxi Guotou realizedOperating income10.27 billion yuan, a year-on-year decrease of 10.71%, and a net profit of 320 million yuan, a year-on-year decrease of 9.3%;Anxin TrustThe net profit was -1.833 billion yuan. However, Shaanxi Guotou’s performance in the first quarter of this year turned over, with a net profit of 242 million yuan in the quarter, a year-on-year increase of 102.54%. andAnxin TrustIn the first quarter of this year, it achieved revenue of 529 million yuan and net profit of 312 million yuan, down 66.75% and 70.44% respectively.Anxin TrustExplain to the reporter: "The company has strengthened its active management. Compared with the previous year, the company's active management scale and total management scale have improved, indicating that the business foundation is being further optimized."
"As a whole, due to the strict supervision of finance, the implementation rules related to the 'new regulations on asset management' have been successively put on, and both the trust profit and the asset scale have declined. This is the industry transformation pain that has been shown in 2018." Shunye Guo, a senior researcher at the company.
7 net profits fell 50%
On April 27, 2018, the "Guiding Opinions on Regulating Asset Management Business of Financial Institutions" was officially promulgated, which clarified the regulatory attitude of the regulatory authorities to go to the channel, reduce leverage, and go to the redemption. Trust companies face greater pressure.
According to the data of the Trust Industry Association, the total revenue of 68 trust companies in the total of 2018 was 114.063 billion yuan, and the total profit was 73.18 billion yuan, down 4.2% and 11.2% respectively. In 2018, the net profit fell by more than 20% to 22, which formed a sharp gap with the explosive growth in previous years.
Changan Trust's net profit for 2018 was 360 million yuan, down 62% from 2017's 950 million yuan; operating income was 2.1 billion yuan, down 9% year-on-year. exceptAnxin TrustIn addition, the net profit fell by more than 50%, including COFCO Trust, Daye Trust, Zhongjiang Trust, Huarong Trust and Shanxi Trust.
Zhongjiang Trust's net profit for 2018 was 0.8 billion yuan, down 53% year-on-year; operating income was 350 million yuan, down 63% year-on-year.
"The introduction of new regulations for asset management, increased pressure on risk management and control, and the increase in risk projects, especially for collective trusts. Under the dual pressure of slowing business growth and risk management, the growth rate of trust companies has increased." Changan Trust said.
Market: Collective trusts rebounded significantly in the first quarter of this year
With the improvement of the financing environment, in the first quarter of 2019, the collective trust market also showed a significant rebound, and there was a clear rebound in the establishment and distribution of the fundraising. According to the China Trust Registration System data, in the first quarter of this year, the issuance of collective fund trust plans showed a growth trend. The newly established scale was more than 480 billion yuan, accounting for 0.73% of the fourth quarter of 2018, an increase of 7.15% over the first quarter of 2018. .
In terms of investment, the first quarter of this yearreal estateThe collective trusts in the field still account for the most, while the products in the basic industry are rising against the trend, which is the biggest growth point of the collective trust.
Industry sources said this yearreal estateAlthough the trust has a tendency to expand further. However, various trust companies are more cautious in selecting projects, and the funds are concentrated in high-quality projects in head-room enterprises and first- and second-tier cities. In addition, the new rules for asset management have stricter restrictions on non-standard assets in terms of maturity mismatches. In the future, housing companies will become narrower and narrower in this area, and new paths for equity investment can be explored.
For the rapid growth of the basic industry collective trust, Yu Zhi, a researcher at the China Financial Trust Research Institute, said that the slowdown in infrastructure projects has become the main resistance to the growth of the basic industry trusts last year, but it has also laid a good foundation for the trust in the infrastructure sector. basis. This year, the government debt increasedLong andBased on the gradual release of default risks, infrastructure trusts are expected to usher in new development opportunities.
(Article source: Guangzhou Daily)