(Yicai Global) June 29 -- Greenland Equity and Financial Asset Trading Center (the Greenland Equity Trading Center) hosted a grand ceremony for this year's first batch of listed enterprises at the Sofitel Wanda Hotel Harbin's Champs-Elysees meeting hall yesterday, with 211 companies from 11 prefecture-level cities across the northeastern Chinese province of Heilongjiang making their listing debut.
Participants largely came from four industries -- eco-food, modern agriculture, technological innovation and information network -- and most of them are based in Heilongjiang's capital of Harbin.
The event was a landmark in the development of Heilongjiang's capital business and served as an indication that the Greenland Equity Trading Center has officially introduced its market-oriented regional equity services targeted at local small or medium-sized enterprises (SMEs). The Greenland Equity Trading Center will, with strong support from the supervisory authorities, be committed to playing a major role in improving Heilongjiang's equity market structure and optimizing SME financing mechanisms.
Backed and promoted by Shanghai Municipal Government and Heilongjiang Provincial Government, the Greenland Equity Trading Center was set up in strict accordance with the relevant requirements of the State Council and China Securities Regulatory Commission (CSRC) upon approval from Heilongjiang Provincial People's Government. As a provincial level equity trading market, it is sponsored and wholly controlled by Greenland Financial Investment Holdings Group, a global top 500 company that is an affiliate of Greenland Holdings Corp. [SHA:600606].
The Greenland Equity Trading Center has been actively engaged in company equity and financial asset financing businesses since it opened on July 8, 2015. It has reached strategic cooperation agreements with prestigious domestic investment institutions such as China International Capital Corp., Hony Capital and CDH Investments, and built a high-quality member system with substantive results, assisting enterprises in banking USD4.4 million (CNY30 million) and CNY 670 million in 2015 and 2016, respectively.
Some 211 enterprises were listed in one fell swoop. The center collaborates with local industrial groups and associations of undertakings, and works with local financial institutions such as banks and securities traders. By operating a cooperative equity investment and financing business for non-listed companies, the platform is forming a sound and competent business that boasts market effectiveness.
As the sole shareholder of the Greenland Equity Trading Center, Greenland Financial is a strategic investment platform that is important to Greenland Group. Greenland Financial has developed operations in four major areas -- financial institutional investments, fund investment and management, finance-related businesses, and capital operation and related fintech.
Greenland Financial's net profit was CNY3.9 billion last year. The firm's assets exceeded CNY52.5 billion by the end of 2016. The enterprise will get financial licenses, including ones for insurance, securities, banking and trust work, via acquisitions in the next three to five years. In doing so, the group will perfect its comprehensive industrial chain in the financial sector, while striving to be a complete financial service group with core competitiveness in subdivisions.
Guided by its pursuit of "strength, professionality, credibility, and win-win results," the Greenland Equity Trading Center will work to perfect Heilongjiang province's capital market service system in line with the requirements of the Heilongjiang Provincial Government and based on the profound background and innovative business models of Greenland Financial and Greenland Group.
The center will attract funds and talents from across China to Heilongjiang. With the province's enterprises and investors as its core service clients, the center will contribute to the industrial structural adjustment and the construction of the Belt and Road's northern route in Heilongjiang by offering comprehensive services in areas such equity and financial asset trading as well as information services to SMEs.