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Investment Bank
FINANCIAL | Investment Banking
hrsec.com.cn

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Investments

5

Portfolio Exits

1

About Huarong Securities

Huarong Securities is an investment bank based out of Beijing, China.

Huarong Securities Headquarter Location

3rd Floor, Tower A, Huarong Building 8 Jinrong Street, West City District

Beijing, 100033,

China

86 10 58568203

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Latest Huarong Securities News

China Huarong Expects Profit Decline Amid Former Chief Lai Xiaomin’s Corruption Investigation

Aug 13, 2018

China Huarong Asset Management Co, one of China’s big four state asset management companies (AMC), is expecting a significant profit drop for the first half this year, it said in a profit warning yesterday. As China continues its deleveraging effort, Huarong is issuing a negative outlook based on increased provisions due to its credit exposure and rising interests as a result of growing external financing. The company also said that the higher market volatility has caused valuations of some of its financial assets to depreciate. Huarong is still suffering from the outcome of the investigation of Lai Xiaomin, its former party secretary and chairman. Lai was taken by authorities and investigated for corruption in April in one of the most high-profile corruption case in recent years. Lai is reportedly accused of hoarding RMB270 million (US$40 million) of cash at his home from his corruption activities. The cash weighted three tons, according to a report by China’s Caixin during the weekend. The article has since been taken down and censored by authorities. Corrupt Chinese officials often hide cash at home because they couldn’t put the money in the bank or spend it. After Lai’s downfall, Huarong has launched a company-wide inspection of more than 10,000 employees in May to "clean the house". Some senior managers of Huarong’s affiliates were affected following Lai’s investigation. In July 27th, a document circulating online showed that Huarong Asset Management suggests Huarong Securities to remove Zhu Xianzhong from his positions as chairman, director and legal representative of Huarong Securities, and make him general manager focused on risk management. Then, China’s Securities Regulatory Commission announced on August 10 that Zhu is no longer a member of its initial public offering review commission. It’s unclear if Zhu is connected with Lai’s corruption case.

Huarong Securities Investments

5 Investments

Huarong Securities has made 5 investments. Their latest investment was in Welion as part of their Series B on February 2, 2021.

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Huarong Securities Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

2/26/2021

Series B

Welion

Yes

1

3/14/2018

Series D

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$99M

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10

9/1/2017

PIPE

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$99M

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10

3/1/2016

Series C - II

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$99M

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10

12/29/2014

Unattributed - II

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$99M

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10

Date

2/26/2021

3/14/2018

9/1/2017

3/1/2016

12/29/2014

Round

Series B

Series D

PIPE

Series C - II

Unattributed - II

Company

Welion

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Amount

$99M

$99M

$99M

$99M

New?

Yes

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Co-Investors

Sources

1

10

10

10

10

Huarong Securities Portfolio Exits

1 Portfolio Exit

Huarong Securities has 1 portfolio exit. Their latest portfolio exit was United Smart Technology on December 07, 2015.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

12/7/2015

IPO

1

Date

12/7/2015

Exit

IPO

Companies

Valuation

Acquirer

Sources

1

Huarong Securities Team

2 Team Members

Huarong Securities has 2 team members, including current Chief Executive Officer, ZhiSuo Ding.

Name

Work History

Title

Status

ZhiSuo Ding

Chief Executive Officer

Current

Dan Chen

NewMargin Ventures, Bridge Capital, and Pingan Securities

Managing Director

Former

Name

ZhiSuo Ding

Dan Chen

Work History

NewMargin Ventures, Bridge Capital, and Pingan Securities

Title

Chief Executive Officer

Managing Director

Status

Current

Former

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