China Cinda Asset Management

What China Cinda Asset Management does

China Cinda Asset Management Co., Ltd. is a Beijing-headquartered, state-owned financial asset management company founded in April 1999 by State Council approval as China's first financial AMC. Its core business is the acquisition, management, and disposal of non-performing assets from banks and large state-owned enterprises, including debt-to-equity swaps, asset restructuring, and custodial liquidation; cumulative NPA acquisition scale approaches 1.4 trillion yuan. The company operates through 33 branches spanning 30 mainland provinces plus Hong Kong, and serves financial institutions, large SOEs in coal, metallurgy, chemicals, steel, construction, and pharmaceuticals, as well as entrusted government mandates for problem financial institution resolution.

The company is structured as a financial holding group with twelve wholly-owned subsidiaries spanning commercial banking (Nanyang Commercial Bank), securities and investment banking (Cinda Securities), trust (Jingu International Trust), financial leasing (Cinda Financial Leasing), fund management (Cinda-Aoyou), futures (Cinda Futures), private equity (Cinda Capital), real estate (Cinda Real Estate), distressed-enterprise services (Zhongrun Economic Development), industrial investment (Cinda Investment), and overseas operations (Cinda HK Holdings and Cinda International). Its largest shareholder is Central Huijin Investment Ltd., the sovereign state-owned holding entity. The company has been listed on the Hong Kong Stock Exchange (ticker 01359.HK) since December 12, 2013, and carries a Moody's A3 long-term issuer rating (Stable) with ba1 Baseline Credit Assessment.

The revenue model rests on three pillars: (1) non-performing asset operations, generating transaction fees and asset disposition gains across acquisition, restructuring, and exit; (2) comprehensive financial services, generating subscription and recurring fees across securities, trust, funds, futures, leasing, and banking subsidiaries; and (3) industrial investment, generating managed-services and investment returns through Cinda Investment, Cinda Capital, Cinda Real Estate, and Zhongrun Development. As of end-2025, total assets reached approximately 1.72 trillion yuan with net profit attributable to shareholders of 35.62 billion yuan (a 17.32% year-over-year increase). Distribution runs through enterprise field sales via the branch network, direct institutional engagements, and self-serve/online channels for retail securities, fund, and futures customers under sub-brands including e达通, 智慧淘, and 信小达.

Name

China Cinda Asset Management

Legal name

中国信达资产管理股份有限公司

Website

http://www.cinda.com.cn

Company type

Public

Founded year

1999

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

China Cinda Asset Management is a Beijing-based, state-owned financial asset management company founded in 1999 and listed on the Hong Kong Stock Exchange. It acquires and restructures non-performing assets from banks and large state-owned enterprises, and operates twelve financial subsidiaries spanning banking, securities, trust, leasing, funds, and private equity.

Ownership category

akta.pro rank

Product category

Financial Asset Management

NAICS

Portfolio Management and Investment Advice (523940), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523), Funds, Trusts, and Other Financial Vehicles (525)

SIC

Finance Services (6199), Security Brokers, Dealers & Flotation Companies (6211), Functions Related To Depository Banking, Nec (6099)

akta.pro primary industry

Non-Performing Loan (NPL) / Loan Portfolio Acquisition Funds (FSANAKAG)

akta.pro secondary industries

Debt Buying & Portfolio Acquisition (Charged-Off Receivables) (FSAKAJAC), Real Estate Investment Management (Acquisitions & Dispositions) (BPAJAMAK), Debt & Capital Advisory (Debt Raising, Refinancing, Private Credit) (BPAHAOAD)

Keywords

• Non-performing asset management
• Distressed asset acquisition
• Debt-to-equity swaps
• Comprehensive financial services
• Asset management

Headquarters

HQ city

Beijing

HQ country

China

HQ region

Asia

Offices6 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. 不良资产经营业务: Core business of acquiring, managing, and disposing of non-performing assets (NPA) from financial institutions and enterprises. Includes debt-to-equity swaps, asset acquisition, asset disposal, and entrusted management of distressed assets. The company has accumulated nearly 1.4 trillion yuan in NPA management scale.
2. 综合金融服务: Comprehensive financial services including securities (信达证券), futures (信达期货), trusts (金谷信托), financial leasing (信达金租), fund management (信达澳亚基金), and commercial banking (南洋商业银行).
3. 实业投资: Industrial investment through subsidiaries including 信达投资 (investment), 信达地产 (real estate), and 中润发展 (economic development). Focus on distressed asset turnaround, energy resources, and high-tech industries.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

China Cinda Asset Management is a state-approved Chinese financial asset management company that acquires, manages, and disposes of non-performing assets (NPA) from banks and enterprises, with cumulative NPA acquisition scale approaching 1.4 trillion yuan. Its core operations include asset acquisition, asset disposal, debt-to-equity swaps, and custodial liquidation of distressed assets. Beyond this core, it operates an integrated financial services platform covering securities brokerage, futures trading, trust services, financial leasing, fund management, commercial banking (Nanyang Commercial Bank), direct equity investment, and real estate through wholly-owned subsidiaries.

Product overview

China Cinda Asset Management operates as a comprehensive financial services platform offering both core and subsidiary products. The core business centers on non-performing asset management (不良资产经营), encompassing asset acquisition, disposal, debt-to-equity swaps, and custodial liquidation services with cumulative acquisition scale approaching 1.4 trillion yuan. The comprehensive financial services segment includes investment banking through Cinda Securities, trust services via Jingu International Trust, financial leasing, direct investment through Cinda Capital Management, and personal financial services covering securities, funds, and futures. The company also maintains nine subsidiary platforms including Nanyang Commercial Bank (commercial banking), Cinda Real Estate (real estate development), Cinda Investment (domestic investment), Cinda HK Holdings and Cinda International (overseas operations), and Zhongrun Economic Development (distressed enterprise services). The product architecture integrates core asset management with diversified financial services, enabling cross-selling and comprehensive solutions for corporate and individual clients.

Differentiator

Problem solved

Functional benefit

Brands

• 个贷通: Personal non-performing loan WeChat mini program for asset information inquiry and transactions
• e达通
• 智慧淘
• 信小达
• 信达同行

Products and services

• Non-Performing Asset Management (不良资产经营) Core business involving acquisition, disposal, debt-to-equity swaps, and custodial liquidation of non-performing assets from financial institutions and enterprises, with cumulative acquisition scale approaching 1.4 trillion yuan. Includes asset acquisition, asset disposal, debt-to-equity swaps, and custodial liquidation services.
• Financial Leasing (金融租赁) Direct leasing, sale-leaseback, vendor leasing, and operating leasing services across sectors including shipping, aviation, new energy, steel, chemicals, and construction machinery, provided through Cinda Financial Leasing Co., Ltd.
• Trust Business (信托业务) Trust services operated through China Jingu International Trust, offering infrastructure trust, real estate trust, emerging industry trust, asset securitization, securities investment trust, and charitable trust products.
• Investment Banking (投行业务) Securities underwriting, sponsorship, financial advisory, securities brokerage, investment consulting, and asset management services provided through Cinda Securities.
• Direct Investment (直投业务) RMB private equity investment and management services operated by Cinda Capital Management, managing various funds including bankruptcy restructuring, real estate relief, deleveraging, and industrial funds.
• Securities Services (证券业务) Online securities trading, financial derivatives, research consulting, directional asset management, and margin financing services provided through the Cinda Securities platform.
• Fund Management (澳亚基金) Fund management services offered through Cinda-Aoyou (Australia-Asia) Fund Management Co., Ltd., providing equity funds, hybrid funds, bond funds, and fund e-weekly services for individual investors.
• Futures Services (期货业务) Futures trading services covering financial futures and commodity futures, along with research reports and trading account management, operated through Cinda Futures Co., Ltd.
• Commercial Banking (南洋商业银行) Commercial banking services provided through Nanyang Commercial Bank and Nanyang Commercial Bank (China) subsidiaries, including deposit taking, lending, trade finance, and treasury operations.
• Cinda Investment (信达投资) Domestic investment and asset management platform specializing in non-performing real estate, energy resources, and high-tech industry investments.
• Cinda Real Estate (信达地产) Real estate development and investment company with operations in over 20 major Chinese cities, focusing on real estate development, commercial property management, and professional services.
• Zhongrun Economic Development (中润经济发展) Professional distressed enterprise services platform providing due diligence, financial advisory, custodial operations, investor recruitment, and bankruptcy restructuring support for troubled enterprises.
• Hong Kong Operations (信达香港) Cross-border distressed-asset investment and overseas asset management operations managed through China Cinda (HK) Holdings Co., Ltd., serving as the company's overseas headquarters and subsidiary management platform.
• Cinda International Holdings (信达国际控股) Hong Kong-listed financial services company offering asset management, corporate finance advisory, securities trading, and commodity/futures brokerage for institutional and individual clients.

Quantifiable outcome

• 累计收购受托不良资产规模近1.4万亿元
• +2 more outcomes

Named customers10 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Six partnerships are on record, tiered core and major.

• 地方政府及企业coreStrategic or Co-development Partner · 1 January 2025与地方政府、企业等签订战略合作协议60余份，开展业务合作
• 中国航天科技集团coreStrategic or Co-development Partner战略合作客户，提供金融租赁服务
• 中国船舶集团有限公司coreStrategic or Co-development Partner战略合作客户，提供金融租赁服务
• 中国海洋石油总公司coreStrategic or Co-development Partner战略合作客户，提供金融租赁服务
• 中国中信集团coreStrategic or Co-development Partner战略合作客户，提供金融租赁服务
• 信达国际控股有限公司majorStrategic or Co-development Partner香港上市公司（股份代号111），提供资产管理、企业融资、证券交易等服务

Scale indicators9 records

Recent moves8 records

Expansion highlights5 records

Broad incumbents

• CITIC Group: State-owned Chinese financial conglomerate with banking (CITIC Bank), securities (CITIC Securities), trust, and asset management businesses. Overlaps with Cinda across multiple financial services segments and shares state-backed ownership structure.
• Oaktree Capital Management: Global leader in distressed debt investing with a comparable specialty in NPL and special situations fund management. While private and U.S.-focused, Oaktree is the international benchmark for the kind of distressed asset franchise Cinda operates at scale.
• China Galaxy Financial Holdings: Central Huijin-controlled Chinese financial group offering securities, asset management, and futures services. Directly comparable as a state-affiliated multi-license financial platform, with overlapping coverage of corporate and retail clients in China.
• China Everbright Group: State-owned Chinese financial conglomerate with banking (Everbright Bank), securities (Everbright Securities), insurance, and asset management. Comparable in scale and diversified financial services portfolio, with similar customer segments in SOEs and institutional clients.

Direct peers

• China Orient Asset Management: The fourth of the original state-owned AMCs, established in 1999 to absorb NPLs from China Construction Bank. Engages in distressed asset acquisition, debt-to-equity swaps, and diversified financial services — directly comparable to Cinda's core franchise.
• China CITIC Financial Asset Management (formerly China Huarong): One of the four state-owned AMCs originally established in parallel with China Cinda in 1999 to manage NPLs from the four major state-owned banks. Operates a similarly diversified financial platform (banking, securities, trust, leasing) and is Cinda's closest direct competitor for NPA acquisition mandates from the Chinese government.
• China Cinda (HK) Holdings / Cinda International Holdings: Cinda's own Hong Kong-listed subsidiary, providing asset management, corporate finance advisory, securities trading, and futures brokerage. Relevant as a peer comparison point for valuation and as a comparable China-based asset management platform with HKEX listing.
• China Great Wall Asset Management: One of the four state-owned AMCs spun off from the Ministry of Finance in 1999 to handle NPLs from Agricultural Bank of China. Like Cinda, it manages distressed assets and runs a multi-license financial platform, competing for institutional mandates and policy-driven resolutions.

Regional players

• China Industrial Asset Management (previously China Jianyin Investment): China Jianyin Investment is a state-owned investment holding company with significant exposure to distressed asset, NPL, and special situations investing in China. Comparable as a Chinese state-backed alternative asset and NPA investor with similar mandate and target assets.
• Beijing State-Owned Capital Operation and Management Company: Local state-owned AMC operating in Beijing with comparable business scope in NPA acquisition and management. While smaller in scale, it is a regional peer competing for the same municipal-level NPA mandates and SOE workouts.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries12 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments22 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about China Cinda Asset Management