China Huarong: It is intended to transfer 86.1 million yuan to the non -performing assets transferred from CITIC Bank

On August 1, 2022, China Huarong (02799.HK) issued the announcement of non -performing assets.

China Huarong stated that the board of directors announced that on August 1, 2022, the company's Jiangsu Branch and CITIC Bank Shenyang Branch entered into the "Batch Transfer Agreement of Bad Assets". Multiple expirations and / or unrealized claims and their corresponding guarantee rights and / or debt -to -debt assets and affiliated rights are transferred to China Huarong Jiangsu Branch at a cost of RMB 86.1 million ("" This transaction this transaction time ").

The announcement stated that the transaction was a public debt assets of CITIC Bank through the banking credit asset registration and circulation center through the banking credit asset registration and circulation center. As a qualified intention to participate in the public bidding as a qualified intention, China Huarong is a non -performing asset acquisition business carried out normally in China, which is in line with the compliance The main direction of China Huarong's non -performing assets will help expand the company's non -performing asset acquisition channels.

Regarding the pricing of the target, China Huarong introduced that the company hired a third -party evaluation agency to issue a valuation report on the mortgage in the debt assets of the target. The evaluation agency passed the on -site and non -on -site investigation. The total valuation of mortgagers is RMB 79.92 million.

Based on the relevant system of internal asset acquisitions, on the basis of reference mortgage evaluation value, combined with the credit of the debtor's credit and guarantee the value of credit recycling, fully consider the relevant factors such as the asset disposal cycle and expected profit, and determine the asset quotation, and fulfill the internal approval of the company's internal approval program.

In accordance with relevant regulations on the transfer of non -performing assets of financial institutions, CITIC Bank is listed on the transfer of the transfer of the target of the transfer of credit assets for the registration and circulation center of the banking industry.

China Huarong said that after the acquisition of the target debt, it will give full play to the professional advantages of non -performing assets, obtain income after the implementation of assets, and improve the company's operating efficiency.

- END -