Over 40 trust companies in China accounted for 73% of the revenue decline last year

the 2022 performance data of Chinese trust companies has been disclosed one after another according to the paper more than 40 trust companies experienced a year-on-year decline in operating income last year and the net profits for more than 30 of them fell year on year the paper learned about the matter from sources familiar with it 56 trust companies disclosed their 2022 unaudited financial statements 15 companies achieved a year-on-year increase in operating income while 41 saw a year-on-year decline in Revenue in terms of net profit 36 companies profits declined year on year the Great Wall trust Hong Joe Trust Cedar trust kunlun trust and China construction Investment Trust all had negative net profits the paper also cited their incomplete statistical results for example in 2022 the total revenue of 56 companies was about 6.80 billion dollars or 4 46.2 billion yuan it's a decrease of approximately 1.5 billion dollars year on year Cena news cites schwein guo rang a researcher at yongying trust he said the performance of trust companies was significantly differentiated moreover this trend of performance differentiation may continue in the short term the reason concerns the official implementation of the new Asset Management regulations schweigo rung said 2022 was the first year of implementing the new Asset Management regulations the companies have increased the provision for asset impairment under strict regulatory policies and the continuous exposure of Industry risk assets this move weakens profitability and short-term profits are hard to realize

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