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Orient
Group Introduction |
Established in 1978,the Oriental Group is an investment group which
has emerged along with reform and opening up in china .the Oriental
Group Company Limited is the first group in Heilongjiang province
to have publicly issued shares and be listed, as well as one of the
first enterprises to have carried out a stock reform and obtained
approval to be listed .It was listed on the Shanghai Securities Exchange
on January 1,1994.
Currently the Oriental Group invests and operates in six major industries:
finance and insurance, information technology, sea transportation,
distribution of construction materials the high-tech material and
real estate. Major enterprises in which the group has invested include
the Minsheng Bank of China, the Xinhua Life Insurance Company Limited,
the Orient Home Company Limited, the Oriental Satellite Technology
Company Limited, the Jinzhou Port Company Limited and the Dongda Elictric
Company Limited. Except for the Minsheng Bank of China and the Xinhua
Life Insurance Company Limited, the group has a controlling stake
in all other investments. All the enterprises mentioned above are
outstanding in their respective field.
The future development of Oriental will be pioneered by talented staff.
led by finance,linked by distribution ,based on industries and assisted
by satellite network telecommunications .based on the markets in mainland
China ,Hong Kong and United States .the group has formulated a development
strategy model which covers its entire network to promote the full
variety of its industrial system which combines its capital flow ,material
flow and information flow . The aim of the group is to maximize the
security of its assets, the international nature of its capital, and
the prevalence of its stock,with a goal of becoming an international
and multinational enterprise that maximizes its corporate and social
value .
(1) China Minsheng Banking Corp., Ltd
Founded on January 12, 1996 in Beijing, China Minsheng Banking Corp.,
Ltd. (¡°Minsheng¡±) is the first national joint-stock commercial bank
in China with stocks mainly held by non-state-owned enterprises. It
is also a standard joint-stock financial institution set up strictly
in accordance with the Company Law and the Commercial Bank Law, which
distinguishes itself significantly from state-owned banks and other
Chinese banks. Minsheng has been well known to domestic and overseas
financial markets. Since its establishment 10 years ago, Minsheng
achieved a rapid growth on its assets and profit while its asset quality
being controlled at a very low level.
Minsheng listed it¡¯s A-shares(600016) at the Shanghai Stock Exchange
on December 19, 2000 where Minsheng issued RMB 4 billion of convertible
corporate bonds on March 18, 2003. On November 8, 2004, Minsheng successfully
issued RMB 5.8 billion of subordinated bonds in inter-bank bond market
where Minsheng is the first commercial bank that issued subordinated
bonds by private placement. Minsheng¡¯s achievement has been further
enhanced on October 26, 2005 when it became the first commercial bank
that accomplished the shares merger reform and established a successful
model in China¡¯s capital market reform.
Since its listing at Shanghai, Minsheng has explored and accumulated
valuable experience on company¡¯s reform, development and management
by following a management principal of Unity and Striving, Exploration
and Innovation, Cultivation of Talents; Strict Management, Normative
Operation, Career Dedication with Law Rein; Quality Focusing, Efficiency
Upgrading and Healthy Development. Minsheng has centralized its business
processing system and adopted a net profit-oriented performance appraisal
and motivation mechanism for each business unit. It also attracted
and retained many talent staff by enhancing its motivation system
through a project named Three Cards, including salary, benefit, and
training, which maintained Minsheng one of the most attractive employers.
The independent credit assessment framework also contributed to the
low NPL ratio. Apart from these, Minsheng has upgraded its business
operations in eight areas it identified important to its growth and
development. Recently, Minsheng started to adopt SBU mechanism at
its important business lines. In a word, Minsheng achieved its strategic
target of Low Risk, Rapid Growth and High Profit, and emerged as a
vigorous and dynamic young bank.
As to date, Minsheng has a total assets, total deposits and total
loans (including bills discounted) of RMB 500 billion, 400 billion
and 300 billion respectively, while the NPL ratio being effectively
achieved under 2%, one of the lowest in China.
Minsheng has established 20 main branches in China ,and a direct-reporting
sub-branch in Shantou, Guangdong province. It has an aggregate of
banking outlets of more than 200 and also has correspondent relationship
with 749 overseas banks in 78 nations and regions.
(2) New China Life Insurance Co.,
Ltd. (NCL Life in short)
NCL is a nationwide joint-stock life insurance company, was founded
on August , 1996.
NCL Life adheres to the operational guideline of "Sound and Profitable
Operation", strives to promote and develop its core values of
"Commitment to Business Integrity and Sustainable Growth".
Products and services are constantly innovated in order to meet various
client needs. The company currently has nearly 120 insurance products
covering life, annuity, health, accident, etc.. The company pays much
attention to the construction of service system and the promotion
of service quality. It commits to the team construction of customer
service representatives, continuously improves the "Emergency
Assistance Service". An excellent corporate image has been established
through fully fulfilling its insurance obligations, faithfully protecting
the benefits of the insurants, and effectively performing the insurance
functions such as economic compensation, financing and social administration.
The company has established a sales and services network covering
almost the whole country. Distribution channels including individual,
group and other intermediary business has been growing steadily. By
the end of 2005, the company has established 734 regional offices,
branches and sub-branches, Employee headcount is 20,600, while individual
sales agent headcount is 212,000. In addition, it has also built sound
business partnership with a number of brokers and intermediary agencies.
Total company assets as of August, 2005 reached RMB 50 billion, and
premium income of the year amounted to RMB 9.21 billion.
(3) Jinzhou Port
Situated in the west of the Bo Hai sea gulf in Liaoning Province.
Jinzhou Port was listed on the Shanghai Securities Exchange Share
B on May, 1998,then in June, 1999,it successfully listed on share
A in the Shanghai Securities Exchange. From 1986 to 2004, Jinzhou
Port Port invested over billions of RMB in the construction of port
infrastructure facilities in nice port areas, It has 13 berths. The
annual handling capacity is 2385 million tons. In 2004, the cargo
throughput reached at 4500 million tons.
By the end of 2004, 39 renowned ship owners both at home and abroad
have launched hundreds of international container liner routes.
Jinzhou Port will continue its fast development in container berths
according to the increasing of importing and exporting in the east
north area of china. Based on our effort, Jinzhou will be the core
freight transportation Center in east north china.
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