On June 24, JIC Leasing Co., Ltd. (hereinafter referred to as “JIC Leasing” or “the Company”) held its founding meeting and first extraordinary general meeting (EGM) for the year 2016 in Beijing. The meeting was attended by over 20 people, including shareholder representatives from China Jianyin Investment Ltd. (JIC), The Carlyle Group, China Merchants China Direct Investments Limited (CMCDI), and JIC Technology Investment Co., Ltd. (JIC Technology Investment), as well as the Company’s board of directors and supervisors, senior management, and attorney.

More than 10 proposals, including the Company’s Articles of Association, were passed by ballot at the EGM, along with the election of members of the first session of board of directors and supervisors.

Upon the EGM’s conclusion, the Company held the first meeting of its board of directors and supervisors. At the board meeting, Mr. Chen Youjun was elected Chairman of the Company’s first session of board of directors. Meanwhile, at the meeting of the board of supervisors, Mrs. Li Hongyan was elected Chairman of the Company’s first session of board of supervisors.

“The overall transformation into a joint stock company has laid the foundation for us to go public and leverage the capital market for financing and resources consolidation,” said Chairman Chen Youjun. He said that the Company would establish a corporate governance structure that meets the modern enterprise standards, and improve its internal supervision and accountability mechanisms to further promote standardized operations. In addition, he stated that JIC would enhance its management efficiency and comprehensive competitiveness, besides initiating the IPO process in due course.

According to JIC, introducing strategic investors and seeking a listing could help the Company fulfill equity diversification and shareholding reform, hence allowing it to establish a diverse and balanced corporate governance mechanism, focus on investment returns and innovation, boost transparency, and encourage its subsidiaries’ management to perform well.