Bohai International Trust Co., Ltd. (BITC) known as just Bohai Trust, is a Chinese investment management company based in

Shijiazhuang Shijiazhuang (; ; Mandarin: ), formerly known as Shimen and romanized as Shihkiachwang, is the capital and most populous city of China’s North China's Hebei Province. Administratively a prefecture-level city, it is about southwest of Beijin ...

, Hebei Province. The company has licensed to create

trust Trust often refers to: * Trust (social science), confidence in or dependence on a person or quality It may also refer to: Business and law * Trust law, a body of law under which one person holds property for the benefit of another * Trust (bus ...

(as private equity fund). The company is a subsidiary of

HNA Group HNA Group Co., Ltd., is a Chinese conglomerate headquartered in Haikou, Hainan, China. Founded in 2000, it was involved in numerous industries including aviation, real estate, financial services, tourism, logistics, and more. It is a part owner ...

for 51.23% shares (via HNA Capital), plus additional 22.10% shares via

China Xinhua Airlines China Xinhua Airlines () was an airline based in Chaoyang District, Beijing, Chaoyang District, Beijing, China. It operated scheduled trunk services and charter flights. Its main bases were Beijing Capital International Airport and Tianjin Binhai ...

, a subsidiary (83.39%) of

Hainan Airlines Hainan Airlines Co., Ltd. (HNA, ) is an airline headquartered in Haikou, Hainan, People's Republic of China. The airline is rated as a 5-star airline by Skytrax. It is the largest civilian-run and majority state-owned air transport company, ma ...

. Hainan Airlines, a listed company, is partially owned by HNA Group. The remain 26.67% shares of the trust company were owned by another subsidiary of HNA Group (), which the group owned 72.98% stake of that subsidiary directly and indirectly (via ).

History

The predecessor of the trust company was founded in December 1983 as Hebei International Trust Investment Corporation (). In 2004 the company was re-registered as Hebei International Trust & Investment Co., Ltd. (), which Hebei Provincial State-owned Assets Supervision and Administration Commission was the largest shareholder for 95.24% stake. In 2006 it was acquired by

from ; the

share capital A corporation's share capital, commonly referred to as capital stock in the United States, is the portion of a corporation's equity that has been derived by the issue of shares in the corporation to a shareholder, usually for cash. "Share capita ...

of the company had increased to in 2010 and to in 2016. The company also changed from "company limited by quote/stake" to "company limited by shares" (analog to

public limited company A public limited company (legally abbreviated to PLC or plc) is a type of public company under United Kingdom company law, some Commonwealth of Nations, Commonwealth jurisdictions, and the Republic of Ireland. It is a limited liability company ...

) in 2015. In 2012

also acquired the minority stake (795.65 million shares) from HNA Hospitality Group, , Haikou Meilan International Airport Co., Ltd. and 2 sister companies, for a total price of ( per share). China Xinhua Airlines did not subscribed the 2016 capital increase of the trust company, making the shares were diluted to 22.10%. In November 2017, Bohai Trust was sued for failing to pay the collective funds trust plan for the Bohai Trust Ningbo Weitong Investment Project, which was originally scheduled to expire on July 27, 2017.

References

External links

* {{in lang, zh Financial services companies of China Private equity firms of China Civilian-run enterprises of China Former government-owned companies of China Chinese companies established in 1983 Companies based in Hebei Companies based in Shijiazhuang HNA Group