21st Century Business Herald Zhu Yingzi reported in Beijing that the trust industry’s 2021 performance data disclosure is nearing completion.
As of the afternoon of January 17, 55 of the 68 trust companies had disclosed their financial statements on time in the inter-bank market. The overall disclosure progress has slowed down compared with last year.
However, it should be noted that the financial data disclosed in the inter-bank market are not audited and may be slightly different from the annual report data.
In addition, the financial report only discloses two statements of assets, liabilities and profits, so detailed explanations of data, trust asset scale and innovative businesses must wait for disclosure in the annual report.
The latest data obtained by 21st Century Business Herald reporters from people in the trust industry shows that except for the fact that CITIC Trust, which has consistently ranked among the top ten in previous years, has not yet disclosed its financial reports, the top ten trust companies currently ranking in net profit are, in order, Ping An Trust,
Huaneng Trust, Chongqing Trust, China Resources Trust, Minmetals Trust, CCB Trust, Jiangsu Trust, AVIC Trust, Foreign Trade Trust, and Lujiazui Trust.
Among them, Ping An Trust and Chongqing Trust have consolidated statements.
The net profits of the above TOP10 are: 4.819 billion yuan, 3.788 billion yuan, 3.382 billion yuan, 3.316 billion yuan, 2.361 billion yuan, 2.206 billion yuan, 2.038 billion yuan, 1.679 billion yuan, 1.640 billion yuan, 1.586 billion yuan.
The TOP10 most profitable companies in 2021 achieved a total net profit of 26.815 billion yuan, while the audited net profit of the TOP10 financial reports in 2020 totaled 25.081 billion yuan, which was basically the same in comparison.
Comparing the net profit rankings in 2020, most of the positions have changed.
Among them, two trust companies are newly promoted, namely, Foreign Trade Trust rose from 13th to 9th, and Lujiazui Trust rose from 12th to 10th.
Correspondingly, Everbright Trust fell out of the top ten, from fifth to 11th. CITIC Trust, which has been in the top ten for many years, has not yet disclosed its financial report.
Not only are the top 10 most profitable companies in the industry experiencing sluggish growth, but so has the industry as a whole in recent years.
Data from the Trust Industry Association shows that in 2020, on a comparable basis, 62 trust companies achieved an average net profit of 792 million yuan, a year-on-year decrease of 9.17% from 2019.
From 2017 to 2020, the total profit of the trust industry has shown negative growth for three consecutive years, and the profit margin has dropped from a high of 89.21% in 2017 to 47.49% in 2020. To a certain extent, it reflects the transformation of profit models in the accelerated transformation of the industry.
Changes in cost and expense structures and the direct impact of industry risk exposure on profits.