At 11:18am on December 18, 2008, Nanshan Group, an enterprise listed in the forefront of Top 500 Enterprise of China, held the unveiling ceremony of Nanshan Group Finance Co., Ltd at Nanshan International Convention Center in Longkou of Shandong Province. Present at the unveiling ceremony were related authorities from government departments of Shandong Province, Yantai, and Longkou; related authorities from domestic and international business banks and financial institutions; shareholders, independent board members and cooperative partners of Nanshan Group Finance Co., Ltd, counterparts from other finance companies; important customers of Nanshan Group, media, and related leaders of Nanshan Group.
Luo Xinquan----Secretary-General of China Finance Company Association, Zhou Qi----assistant of Governor of Shandong Province, Xie Ning----Deputy Director of Shandong Banking Regulatory Commission, Sun Bingxian----special advisor of Yantai Municipal Government, Dong Xibin---mayor of Longkou, and Song Zuowen----President of Nanshan Group unlocked the crystal ball symbolizing the founding of Nanshan Group Finance Co., Ltd, together they witnessed another major event of Nanshan Group and the prelude of Nanshan Group’s interactive and integrated development of industry capital and financial capital.
Nanshan Group Finance Co., Ltd is a non-banking financial institution founded in November 2008 under the approval of China Banking Regulatory Commission. It is the first finance corporate run by a private enterprise group in Shandong Province, and the fourth finance corporate under an enterprise group after SINOTRUCK, Haier Group and Hisense Group.
With registered capital totaling 500 million yuan, Nanshan Group Finance Co., Ltd is founded jointly by 4 Group members including Nanshan Group Company, Shandong Nanshan Aluminum Co., Ltd, Nanshan Hotel in Longkou, and Management Section of Nanshan Touring Zone in Longkou, and the strategic investor----Haier Group Finance Co., Ltd. Nanshan Group accounts for 55% of its total investment with 275 million yuan in cash; Shandong Nanshan Aluminum Co., Ltd accounts for 21% of the total investment with 105 million yuan in cash; Management Section of Nanshan Touring Zone in Longkou accounts for 10% of the total investment with 50 million yuan in cash; Nanshan Hotel in Longkou accounts for 6% of the total investment with 30 million yuan in cash; and Haier Group Finance Co., Ltd accounts for 8% of the total investment with 40 million yuan in cash.
The founding of Nanshan Group Finance Co., Ltd strengthens the resource integration mode of the Group, and realizes the integration of industry capital and finance capital. With the purpose of “relying on the Group and serving the Group”, Nanshan Group Finance Co., Ltd would make greater contribution in enhancing the Group’s capital utilization efficiency, reducing comprehensive finance cost, and improving capital and finance management. Through establishing a solid finance service platform, the operation of Nanshan Group Finance Co., Ltd would drive Nanshan Group toward a steadier, higher and more extensive leapfrog development.
