Company Profile

        1. Company Profile

        Founded in August 2010, Guorong International Financial Leasing Co., Ltd (“Guorong Leasing”) is registered in Jinan, Shandong with a registered capital of RMB 0.2 billion yuan. It is the first joint venture and national investment and financing company whose main business is financial leasing. The companys Chinese shareholder is China Financial Leasing Industry Investment Holding Limited, holding 75% of the companys shares. The foreign shareholder is New Energy (China) Development Group Limited, HK, holding 25% of the companys shares.

        Since its establishment, the company is based in Shandong and China-oriented. It adheres to professional, elaborate, network-based and featured services. Using the company’s expertise and talent advantages, financial leasing plays a unique advantage in accelerating technological progress, conserving tax fund, adjusting the corporate tax structure, and enriching corporate financing means. With innovative financial leasing models and products, the company fully integrates the financing means and resources of the capital markets, commodity markets and currency markets, providing customers with tailored, efficient and economic financial leasing solutions, other specialty financing solutions and equity financing solutions, and forming a full range of investment and financing services. In addition, since the company is familiar with the financial capital markets and financial instruments, it actively carries out financial leasing, sets up, issues, raises, operates and manages industrial funds for energy M&A, and provides the services including collective bills of SMEs, trust financing agency, and contractual energy management. Recently, the company has signed cooperation agreements involving issuance, management and financial leasing project of coal industrial funds, and outsourcing of trust product financing services with multiple backbone enterprises for coal integration in Erdos, Wuhai and Urumqi. Currently all the projects have been under operation. As the general coordinator, the company has organized the preparation of two collective bill businesses of SMEs in Zouping and Zibo, Shandong Province, which have both entered the approval stage. The company has close operation with China Aerospace Science and Technology Corporation, Shandong Academy of Sciences and other institutions, in order to actively expand the business in contractual energy management. Related business is already being carried forward.
        2. Operation Background of Financial Leasing Company
        A. Legal Basis
        The laws and regulations according to which Guorong (whose establishment is approved by Ministry of Commerce) operate in China mainly include the Company Law of the People's Republic of ChinaProcedures for Foreign-invested Leasing IndustryJoint Venture Law and other applicable tax laws, business registration laws and regulations that should be complied with.
        B. Regulatory Bodies
        In accordance with relevant state regulations, Ministry of Commerce works as the company’s regulatory body, responsible for approving and developing various regulations for financial leasing companies. In the meanwhile, the financial leasing companies shall be supervised and managed by local Department of Commerce, Trade and Industry Bureau, Taxation Bureau, and SAFE. The company shall conduct data reporting, qualification examination, and annual registration inspection.