On August 5, 2016, JIC Leasing announced the completion of its shareholding reform and change in business registration, with its name officially changed to JIC Leasing Co., Ltd. (hereinafter referred to “JIC Leasing” or “the Company”).

“The smooth completion of shareholding reform marked another crucial step we have made toward the capital market,” said Chairman Chen Youjun. Next, the Company would initiate the IPO process in due course, further improve its governance system and modern enterprise system, vigorously expand its presence in the global market, and provide more diversified services to domestic and foreign customers.

As a leading independent financial leasing enterprise in China, JIC Leasing has maintained a strong growth momentum in recent years, with principal operations in the areas of information technology, high-end equipment manufacturing, healthcare, environmental protection, and new energy. As the Chinese economy transforms and upgrades, the leasing markets in these areas hold huge potentials.

In the last three years, JIC Leasing has posted a CAGR of 48% and 62% in total assets and net profit, respectively. So far, the Company’s total assets have amounted to around RMB 25 billion.

To meet its demand for rapid growth and follow the prevailing trend of SOEs reform and development, JIC Leasing, driven by its shareholder JIC, aims to enter the capital market through the introduction of strategic investors, and shareholding reform and listing. It aims to broaden its financing channels and seek a diversified platform for the consolidation of industry-wide resources. In this way, the Company can boost its core competitiveness, become bigger and stronger, and enhance its brand value.

JIC Leasing’s Journey of Introduction of Strategic Investors and Shareholding Reform

Signing the Agreement on Introduction of Strategic Investors: On June 27, 2015, JIC Leasing entered into a capital increase agreement with the Carlyle Group, China Merchants China Direct Investments Limited (CMCDI), and JIC Technology Investment Co., Ltd (JIC Technology). After the capital increase, the Carlyle Group and CMCDI invested RMB 952 million into JIC Leasing for a 25% stake, with the two holding 18.54% and 6.46% equity interests, respectively. Meanwhile, JIC Leasing and JIC Technology jointly held 75% stake in the Company.

Completing Fund Delivery for Introduction of Strategic Investors: On October 16, 2015, JIC Leasing announced obtaining the approval of Beijing Municipal Commission of Commerce for introducing strategic investors. Its nature was thereby changed to sino-foreign joint venture, and it completed the delivery of funds for the introduction of strategic investors. After that, the Company’s registered capital reached RMB 2,668 million.

Holding the Founding Meeting and the First EGM in 2016: On June 24, 2016, the Company held its founding meeting and the first extraordinary general meeting (EGM) for the year 2016 in Beijing. According to the meeting agenda, 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 EGM’s conclusion, the Company held the first meeting of its boards of directors and supervisors.