Prudential Fund, Huaxia Fund, CITIC Fund and Yin Hua Fund are all CITIC Holdings? Are they four independent companies or are they going to merge?

CITIC Trust holds 49% of the shares of Xincheng Fund, Prudential Group holds 49%, Huaxia Fund holds 62.2%, CITIC Fund Company is wholly owned by CITIC Securities Co., Ltd. (100%), and Yin Hua Fund holds 49%. At present, all four companies operate independently, and there is no merger statement for the time being.

1. CITIC Prudential Fund Management Co., Ltd. was established in September 2005. It is the second financial company jointly established by CITIC Group and Prudential Group, and the first Sino-foreign joint venture fund company established in China. The registered capital is 200 million yuan, of which CITIC Trust accounts for 49%, Prudential UK accounts for 49%, and Sino-Singapore Suzhou Venture Capital accounts for 2%. On 20 17 12 18, the company was renamed as "citic prudential fund management co., ltd".

CITIC Prudential Fund Management Co., Ltd. is mainly engaged in standardized securities investment in the secondary market, and its business scope includes public offering of funds, specific asset management, QDII, entrusted investment management of insurance funds and other businesses permitted by China Securities Regulatory Commission. By June 30th, 20021year, the company had managed assets of139.7 billion, including public offering1/7.8 billion and non-monetary fund 37/ 144 (data from WIND). The company's product layout is perfect, and now it has formed a coordinated development pattern of five major investment businesses: equity investment, fixed income investment, quantitative and index investment, multi-strategy and portfolio investment and investment banking, and established product lines with different risk and return levels and distinctive styles. The total number of products managed is nearly 77, which can meet the needs of investors with different risk preferences.

2. Huaxia Fund Management Co., Ltd. was established on April 9, 1998, and is one of the first national fund management companies approved by China Securities Regulatory Commission. The company is headquartered in Beijing, with branches in Beijing, Shanghai, Shenzhen, Chengdu, Nanjing, Hangzhou, Guangzhou and Qingdao, and subsidiaries in Hong Kong, Shenzhen and Shanghai.

Huaxia Fund is positioned as a comprehensive and versatile asset management company, covering multiple asset categories, industries and regions, and has built a diversified asset management platform with Public Offering of Fund and institutional business as its core, covering Huaxia Hongkong, Huaxia Capital and Huaxia Fortune.

3. CITIC Fund Management Co., Ltd. was established by CITIC Securities Co., Ltd., China Development and Investment Corporation, Shanghai Jiushi Company and China Shipping Trust Co., Ltd. under the strategic planning of establishing a complete financial industrial chain by China CITIC Group, with a registered capital of 1 100 million yuan.

4. Yin Hua Fund was established in May 20001year. Since its establishment 20 years ago, it has developed into a fully licensed and comprehensive asset management company with its honest, standardized, steady and pragmatic business style. By the end of 2020, Yin Hua Fund Management 133 Public Offering of Fund products, with product lines covering stocks, hybrids, bonds, currencies, QDII funds and other product types, with a total asset management scale of nearly 900 billion (including subsidiaries).