Luheng Law Firm, at the invitation of Hunan Hingxiang Investment Holding Group, its perennial legal advisory unit, held an annual special training session on "Risks and Prevention of State-owned Investment and Operation Platforms" on the morning of November 20, 2019 for the risk control and legal personnel as well as external legal advisors of Hunan Hingxiang Investment Holding Group and all its subordinate companies.

Sharing of Training Content

At the meeting, Lawyer Shi Huanhuan and a Certified Public Accountant from Luheng Law Firm elaborately shared the opportunities and challenges encountered by state-owned capital operation platforms in the development process from aspects such as the "development history and main characteristics", "direction of transformation (deepening reform) and typical cases", and "operational risks and prevention suggestions" of state-owned investment and operation platforms. This training combined theory with practice, the venue was full with a warm atmosphere, and it was highly praised by all the participants.

Introduction to Hunan Hingxiang Investment Holding Group

Hunan Hingxiang Investment Holding Group Co., Ltd., established in September 2006, is the only provincial-level state-owned capital operation platform in Hunan Province, with a registered capital of 30 billion yuan and 9,244 employees. Currently, the Group has 10 wholly-owned subsidiaries, 4 holding subsidiaries, 9 public institutions, 2 entrusted enterprises and 14 equity-participating enterprises, with an AA+ credit rating.

Hingxiang Group has given full play to the role of "three platforms and three functions". In accordance with the overall thinking of "improving functions, optimizing structure, cultivating capabilities and enhancing value", it has received part of the state-owned equity of 22 provincial supervised enterprises transferred by the Provincial State-owned Assets Supervision and Administration Commission through means such as the transfer and entrustment of state-owned property rights. Meanwhile, it has actively established a fund cluster, given full play to the role of funds as a starting point, and actively participated in the reform and restructuring of provincial state-owned enterprises and other enterprises. By the end of July 2019, the Group's total assets reached 45.6 billion yuan and net assets reached 39.6 billion yuan. By 2020, Hingxiang Group's total assets will reach 60 billion yuan, its credit rating will be upgraded to AAA, and the fund management scale will reach 30 billion yuan, making it a first-class provincial-level state-owned capital operation platform in China with industry influence and market competitiveness.