Zhejiang Orient Financial Holdings Group

What Zhejiang Orient Financial Holdings Group does

Zhejiang Orient Financial Holdings Group is a provincial state-owned listed financial investment holding company headquartered in Hangzhou, China (Shanghai Stock Exchange ticker 600120.SH, listed since 1997). Originally founded in 1988 as a traditional foreign trade enterprise, the company completed a major asset restructuring in 2017 and rebranded in 2018 to operate as one of the few provincial state-owned listed multi-license financial holding platforms in China's A-share market, controlled ultimately by Zhejiang SASAC through Zhejiang International Trade Group.

The group operates through 24+ controlling and invested subsidiaries spanning six core licensed financial verticals: trust services (Zheshang Jinhui Trust, managing 798.91 billion yuan in AUM across 286 trust projects as of end-2022 with 83.76% in active management), futures brokerage and risk management (Dadi Futures, serving industrial clients across 30 provinces and four continents via subsidiary Jihai Trade Development), life insurance (Zhonghan Life/Dongfang Jiafu Life Insurance, ~40 branches across Zhejiang, Jiangsu, and Anhui, with registered capital increased to 3.0012 billion yuan in 2022), financial leasing (Guojin Lease, focusing on healthcare, green energy, and advanced manufacturing), private equity and venture capital (Dongfang Jiafu with 166.28 billion yuan in-management AUM, including semiconductor and AI chip investments in Cambricon, Nexchip, Xinke Mobile, and Zenlen Technologies), and wealth management (Banruo Asset Management). Digital infrastructure includes the Intelligent Risk Management System, the BBC (B2B2C) Group Insurance Platform, and the Zheshang Wealth Hui mobile app.

The group generates revenue across multiple streams: trust management fees, futures commissions, insurance premiums (with Zhonghan Life consolidated into group reporting from October 2022), financial leasing interest spreads, and fund management fees/carried interest. Go-to-market combines direct institutional sales to enterprises and governments (especially Zhejiang province municipalities under common prosperity demonstration initiatives), captive branch networks, bancassurance partnerships (Zheshang Bank), insurance brokers (Pan-China, Mingya, Huakang), and government LP-backed fund channels. Customer segments include provincial and municipal governments, state-owned enterprises, high-net-worth families (family trust services), mass-affluent individual insurance buyers, agricultural producers (via 'insurance+futures' products), and semiconductor/technology portfolio companies.

Name

Zhejiang Orient Financial Holdings Group

Legal name

浙江东方控股集团股份有限公司

Website

https://zjorient.com

Company type

Public

Founded year

1988

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Zhejiang Orient Financial Holdings Group is a Zhejiang provincial state-owned listed financial holding company operating trust, futures, life insurance, financial leasing, PE/VC, and wealth management businesses through 24+ subsidiaries, serving enterprises, governments, families, and individuals primarily in Zhejiang province.

Ownership category

akta.pro rank

Product category

Diversified Financial Holding

NAICS

Portfolio Management and Investment Advice (523940), Other Financial Vehicles (525990), Management of Companies and Enterprises (551), All Other Financial Investment Activities (52399)

SIC

Life Insurance (6311), Investment Advice (6282), Investors, Nec (6799)

akta.pro primary industry

Thematic / Sector-Focused Multi-Manager Platforms (FSANAGAH)

akta.pro secondary industries

Sector/Thematic Equity (Active) (FSAAAIAG), Managed Platforms & Wrap Programs for Private Clients (Model Portfolios, UMA/SMAs) (FSAAABAM), Regional / Country-Focused Multi-Manager Platforms (FSANAGAI)

Keywords

• Trust services
• Life insurance products
• Futures brokerage
• Financial leasing
• Wealth management

Headquarters

HQ city

Hangzhou

HQ country

China

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Licensed Financial Services (持牌金融): Revenue from trust services (浙金信托), futures brokerage and risk management (大地期货), life insurance premiums (中韩人寿/东方嘉富人寿), and financial leasing (国金租赁). The group generates fee-based income from trust management fees, futures commissions, insurance premiums written, and equipment financing leases. Post-2022 restructuring, 中韩人寿 became a consolidated subsidiary contributing insurance premium revenue.
2. Financial Leasing (融资租赁): 国金租赁 generates revenue through equipment financing leases in healthcare, green energy, and advanced manufacturing sectors. Revenue is driven by interest income spreads between lease rates and funding costs, with a target of becoming a first-tier domestic financial leasing company with strong risk control and innovation capabilities.
3. Equity Investment and Fund Management (股权投资): 东方产融 and 东方嘉富 manage private equity funds with AUM of approximately 166.28亿元 (as of May 2022). Revenue comes from fund management fees, performance/carried interest, and investment returns from co-investments. The group has invested in 90+ companies including 寒武纪, 臻镭科技, 信科移动 (688387), and 晶合集成 (688249).
4. Wealth Management (财富管理): Services for individual, corporate, and family clients providing financial investment advisory and asset allocation. Revenue is generated through advisory fees, product distribution commissions from third-party financial products, and management fees from proprietary wealth management schemes.
5. H1 2022 Financial Results: For H1 2022, Zhejiang Orient reported revenue of 10.5 billion yuan (+15% YoY) and net profit of 215.5 million yuan (-40.5% YoY). Total assets stood at 29.1 billion yuan with liabilities of 15.8 billion yuan, resulting in a debt-to-asset ratio of 54.2%. The net profit decline despite revenue growth reflects operational challenges and one-time factors.

Pricing tiers

Go-to-market motion3 records

Distribution channels7 records

Marketing channels6 records

Core offering

Zhejiang Orient Financial Holdings Group is a Zhejiang provincial state-owned listed financial holding group that operates multiple licensed financial subsidiaries delivering trust services, futures brokerage and risk management, life insurance, financial leasing, private equity/venture capital fund management, and wealth management. The group's subsidiaries include Zheshang Jinhui Trust, Dadi Futures, Zhonghan Life Insurance (now Dongfang Jiafu Life), Guojin Financial Leasing, Dongfang Jiafu Asset Management, and Banruo Asset Management.

Product overview

Zhejiang Orient Financial Holdings Group is a provincial state-owned listed financial investment group in Zhejiang province, operating as a diversified financial holding company. After completing its 2017 asset restructuring, the company transformed from a traditional foreign trade enterprise into a comprehensive financial services platform. Its product and service portfolio consists of multiple licensed financial subsidiaries and specialized platforms: 浙商金汇信托 (trust services with family trust and bankruptcy restructuring service trust offerings), 大地期货 (futures brokerage and risk management, including '保险+期货' agricultural protection products), 中韩人寿/东方嘉富人寿 (life insurance with the '福利多员福平台' digital platform and '保险+社区' elderly care services), 国金租赁 (financial leasing in healthcare, green energy, and manufacturing sectors), 东方嘉富 (private equity/venture capital in technology sectors), 般若资产 (asset management), along with internal technology platforms such as the 智能风险管理系统 (intelligent risk management system), 数据中心 (data center), and 统一账户平台 (unified account platform). The group also operates fund management platforms including the 10 billion yuan dual-investment attraction fund co-established with Wenzhou Ruian city.

Differentiator

Problem solved

Functional benefit

Products and services

• Zheshang Jinhui Trust (浙商金汇信托) A licensed trust company offering family trust, service trust, capital family trusts, equity trust structures, stock trust structures, offshore tax resident beneficiary trusts, and insurance trust products for wealth management and asset preservation.
• Dadi Futures (大地期货) A licensed futures brokerage firm providing futures trading services, risk management, derivatives, and 'insurance + futures' (保险+期货) agricultural price protection products for farmers and agricultural enterprises.
• Zhonghan Life Insurance / Dongfang Jiafu Life (中韩人寿 / 东方嘉富人寿) A licensed life insurance company providing personal and family risk protection, wealth management, pension insurance, and health service solutions across the full lifecycle, including the BBC Platform (Welfare Multiple Member Welfare Platform).
• Guojin Financial Leasing (国金租赁) A licensed financial leasing company providing professional equipment financing lease, sale-leaseback, and direct leasing services in healthcare, new energy, intelligent manufacturing, and vessel financing sectors.
• Dongfang Jiafu Asset Management (东方嘉富) A private equity and venture capital investment platform managing multiple industry-specific funds, focusing on next-generation information technology, advanced manufacturing, new materials, and healthcare sectors.
• Banruo Asset Management (般若资产) An asset management company managing private fund products and providing wealth management services to clients.
• Zhejiang Jincaifu Hui APP (浙金财富汇APP) A mobile wealth management application for trust product distribution and family trust services, integrating with Zheshang Jinhui Trust's family trust business system.
• Welfare Multiple Member Welfare Platform / BBC Platform (福利多员福平台) A B2B2C group employee benefit insurance platform with customizable group insurance plans, flexible coverage options, integrated health management services including medical appointments, TCM services, and customized health screenings, supporting 'thousands of faces, thousands of plans' flexible plan design.
• Insurance + Futures (保险+期货) Agricultural Price Protection An agricultural insurance innovation product combining insurance and futures derivatives to protect farmers from commodity price volatility, including 'insurance+futures' projects covering pork, eggs, natural rubber, paper, asphalt, and red dates.
• Insurance + Community Elderly Care Service (保险+社区养老服务) Community-based elderly care insurance service model developed by Zhonghan Life, partnering with communities to provide integrated insurance and elderly care services as part of Zhejiang's common prosperity demonstration.

Quantifiable outcome

• H1 2022 revenue of 10.5 billion yuan (+15% YoY)
• +4 more outcomes

Named customers8 records

Segments4 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

AI capability1 record

Feature5 records

Partnerships

Ten partnerships are on record, tiered minor and core.

• 英特集团 (Yingte Group)minorStrategic or Co-development Partner · 7 January 2025中韩人寿 partnered with 英特集团 (a 省国贸集团 sister company) and multiple community organizations for the '保险+社区' elderly care co-construction program in Shangcheng District's 南肖埠社区. The three-party party building co-construction agreement includes signing with 南肖埠社区党委 and 英特集团新零售事业部 to provide integrated elderly care and health management services at the community level.
• 华顿经济研究院 (Walton Economic Research Institute)minorStrategic or Co-development Partner · 16 February 2023Zhejiang Oriental hosted a strategic exchange visit with Walton Economic Research Institute, a renowned Chinese economic think tank founded in 1988 under the direction of former Shanghai Mayor Wang Daohong. The institute, which compiles the China Listed Company Top 100排行榜 annually, has provided consulting services to Baosteel, China Eastern Airlines, Shanghai Airport Group, and international firms including McKinsey and JP Morgan. The visit focused on strategic development consulting and collaboration strengthening between the think tank and the financial holding group.
• 浙江大学 (Zhejiang University)minorStrategic or Co-development Partner · 1 January 2023中韩人寿 established comprehensive strategic cooperation with Zhejiang University, combining academic resources with insurance innovation capabilities to develop insurance products and services for the Zhejiang market.
• 浙商银行 (Zheshang Bank)minorChannel Partner/ Reseller/ Distributor · 1 January 2023中韩人寿 partnered with Zheshang Bank for bancassurance distribution of insurance products, leveraging the bank's extensive retail banking network in Zhejiang Province and beyond.
• 泛华集团 / 明亚保险经纪 / 华康保代 / 大童保险 / 大鱼科技 (Pan-China Group / Mingya Insurance Broker / Huakang Insurance Agency / Datong Insurance / Dayu Insurance Technology)minorChannel Partner/ Reseller/ Distributor · 1 January 2023中韩人寿 established partnerships with leading national insurance brokers and insurtech platforms including 泛华集团 (Pan-China), 明亚 (Mingya), 华康 (Huakang), 大童 (Datong), and 大鱼科技 (Dayu Tech) to expand distribution through the insurance intermediary channel. These partnerships support the company's strategy to grow its bancassurance and broker channel revenue.
• 杭州市富阳区人民政府 (Fuyang District Government, Hangzhou)coreStrategic or Co-development Partner · 7 September 2022Zhejiang Oriental signed a strategic cooperation agreement with Fuyang District Government during a major industrial project signing event where 富阳区 and 26 key projects were collectively signed. The cooperation aims to provide diversified financial services for 富阳's '专精特新' enterprises, support the region's capital market participation, and help build 富阳 into a financial demonstration zone for industrial finance, inclusive finance, and technology finance. The group has previously provided financial leasing and other services to 富阳 enterprises.
• 浙江大学康复医院 (Zhejiang University Rehabilitation Hospital)minorStrategic or Co-development Partner · 7 July 2022国金租赁 partnered with Zhejiang University Rehabilitation Hospital (a 三级康复医院 jointly established by Zhejiang University, its affiliated first hospital, and Fuchun Holdings) to provide medical equipment direct leasing services. The partnership successfully closed a medical equipment direct lease for 130+ devices and a 15 million yuan sale-leaseback transaction. The hospital is now officially operational, filling a gap in Hangzhou's三级康复 hospital market.
• 衢州市人民政府 / 衢控集团 (Quzhou Municipal Government / Quzhou Holdings Group)coreStrategic or Co-development Partner · 1 July 2022Zhejiang Oriental signed a strategic cooperation agreement with Quzhou Holdings Group under the broader '1+5' strategic framework between 省国贸集团 and Quzhou Municipal Government. The cooperation covers fund investment, major project recruitment and capital operations, life health industry development, and strategic alignment. Zhejiang Oriental has already been active in Quzhou through the 江山市 '保险+期货' project, semiconductor financial leasing, insurance branch presence, and rural revitalization结对帮扶 in 张村乡.
• Columbia Group / Columbia Shipmanagement SingaporecoreStrategic or Co-development Partner · 1 April 2022Columbia Group, through its subsidiary Columbia Shipmanagement Singapore, was appointed by Zhejiang Seaport Financial Leasing (a subsidiary relationship) to provide full technical operations, crew management, compliance, and performance monitoring services for three Aframax tanker newbuilds under construction. The cooperation followed a memorandum of understanding signed the prior year establishing a comprehensive framework covering technical management, insurance, legal advisory, and vessel financing. This partnership involves Zhejiang Oriental's broader financial ecosystem through Zhejiang Seaport Financial Leasing.
• 温州瑞安市人民政府 / 瑞安市产业基金公司 / 瑞安市国有资产投资集团 (Ruian City Government and State-owned Investment Vehicles)minorStrategic or Co-development Partner · 1 January 2022Zhejiang Oriental (through 东方嘉富) co-established a 双招双引 (investment attraction and talent recruitment) equity fund with Ruian City government entities, sized at 1 billion yuan. The fund focuses on intelligent manufacturing, information technology, and healthcare sectors in line with Ruian's development plans. This builds on existing cooperation with Ruian in intelligent manufacturing and strategic emerging industries.

Scale indicators8 records

Recent moves8 records

Expansion highlights6 records

Broad incumbents

• China Life Insurance: Central SOE life insurer and a primary SOE peer of Zhonghan Life Insurance (now wholly SOE-owned under Zhejiang Orient). Both compete in life/health/pension products, but China Life has materially larger premium scale and national branch infrastructure.
• Ping An Insurance Group: China's largest integrated financial conglomerate spanning life/banking/asset management. Comparable because both operate integrated life insurance plus asset management platforms, though Ping An is materially larger and broader in customer reach than regional SOE peers like Zhonghan Life.
• China Cinda Asset Management: Central SOE specializing in distressed asset investment and asset management. Comparable to Zhejiang Orient's PE/investment subsidiary (Dongfang Jiafu) because both manage alternative investment portfolios with government-LP backing, and pursue special-asset services including non-performing asset acquisition and bankruptcy restructuring.
• China Galaxy Securities / China Galaxy Financial Holdings: Central-government-controlled diversified financial group spanning securities, futures, asset management, and alternative investments. Comparable because both are SOE-affiliated financial holding platforms that operate across multiple regulated subsidiaries with cross-selling at scale, though Galaxy is materially larger and nationally focused.
• China Merchants Financial Holdings: Central SOE financial holding subsidiary of China Merchants Group covering securities, insurance, leasing, and PE. Comparable because it runs a similar diversified financial holding model with cross-subsidiary collaboration, and is also expanding into elderly care and healthcare leasing adjacent to Guojin Leasing's medical equipment focus.
• Everbright Group / China Everbright Limited: Central SOE financial conglomerate with banking, securities, insurance, and asset management. Comparable because it operates a similar multi-license, SOE-backed integrated financial platform model, although significantly larger in scale and with broader geographic reach than Zhejiang Orient's regional franchise.

Direct peers

• Shanghai International Group: Municipal SOE holding company controlling Shanghai-based financial institutions including banks, securities, and asset managers. Most directly comparable municipal SOE holding peer because both operate as Yangtze River Delta multi-license SOE financial platforms with state-owned controlling shareholders and similar regulatory positioning.
• SDIC Capital: Central SOE investment holding company managing industrial investment funds, VC/PE mandates, and wealth management. Comparable to Zhejiang Orient because it operates a similar state-owned investment holding structure with government-LP industrial funds and direct equity exposure to strategic technology sectors.
• CITIC Trust Corporation: CITIC Group's trust subsidiary operating in active trust management, family trust, and service trust products. Most directly comparable because Zheshang Jinhui Trust competes head-on in the same trust license category with overlapping product lines (family trust, wealth management trust, bankruptcy restructuring service trust).

Emerging players

• China Huarong Asset Management: Central SOE asset manager with exposure to distressed assets, securities, and trust businesses. Comparable because its trust subsidiary and Zhejiang Orient's Zheshang Jinhui Trust both operate in the new trust classification regime (service trust, family trust, asset-backed trusts), though Huarong is currently undergoing restructuring that may compress competitor overlap.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/zhejiang-orient-holdings-co-ltd-

Compliance19 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries8 records

Funding overview

Funding rounds

Investors

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

M&A

Investments2 records

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

Frequently asked questions about Zhejiang Orient Financial Holdings Group