Securities Times reporter Yang Zhuoqing
On the afternoon of August 11, the market reported that Huang Wei, chairman of Xinjiang Qianhai United Property Insurance Co., Ltd. (hereinafter referred to as "Qianhai Property Insurance"), was taken away by Shenzhen authorities for investigation.
In this regard, a reporter from Securities Times called Qianhai Property & Casualty Insurance's information disclosure relevant person as soon as possible, and the other party said, "I don't know about this matter here."
However, as of the evening of the same day, Baoneng Group and the listed company Zhongju High-tech both issued announcements, confirming that Huang Wei is cooperating with relevant departments in the investigation.
Baoneng Group said, "The company has learned that Huang Wei, senior vice president of Baoneng Group, is cooperating with relevant departments in the investigation due to personal reasons, and the matter involved has nothing to do with Baoneng Group." Tian Investment Co., Ltd. informed that the director of the company, Mr. Huang Wei, is cooperating with the relevant departments in the investigation due to personal reasons. Mr. Huang Wei is a non-executive director of the company and does not participate in the company's daily business activities. The above investigation has nothing to do with the company. "
Huang Wei once took over from Yao Zhenhua
Huang Wei is one of the core figures of Baoneng Group.
The resume shows that Huang Wei was born in September 1974, a member of the Communist Party of China, a master's degree, and the title of intermediate economist.
He has worked in Industrial and Commercial Bank of China for a long time. From March 2005 to December 2013, he worked in the Shenzhen Branch of Industrial and Commercial Bank of China, and served as the deputy general manager of the Loan Management Center, the deputy general manager and general manager of the company's first business department, and the general manager of the institutional business department.
In December 2013, Huang Wei joined Baoneng Group and has been the senior vice president of the group, responsible for investment and financing business.
In February 2017, Qianhai Life Insurance was punished by the China Insurance Regulatory Commission for compiling and providing false materials and illegal use of insurance funds. Yao Zhenhua, the then chairman of Qianhai Property & Casualty Insurance, was revoked and banned from the insurance industry for 10 years.
From November 2017 to May 2019, Huang Wei succeeded Yao Zhenhua as the chairman and legal representative of Qianhai Property & Casualty Insurance.
In April 2021, Huang Wei once again served as the chairman and legal representative of Qianhai Property & Casualty Insurance.
Qianhai Property & Casualty Insurance is a national property insurance company. It opened on May 19, 2016 with a registered capital of RMB 1 billion. The company's domicile is in Urumqi, Xinjiang, and its business place is in Shenzhen.
Qianhai Property & Casualty Insurance has a total of 5 shareholders, including Shenzhen Jushenghua Co., Ltd., Shenzhen Shenyue Holdings Co., Ltd., Shenzhen Jianye Engineering Group Co., Ltd., Shenzhen Yueshang Logistics Co., Ltd., and Kaixinheng Co., Ltd. The company holds 20% of the shares.
The above five shareholders are all privately held, of which Shenzhen Jushenghua Co., Ltd. is actually controlled by Yao Zhenhua.
The Tianyan inspection system shows that in addition to Qianhai Property & Casualty Insurance, Huang Wei currently serves as the legal representative of many companies; in addition, Huang Wei also serves as the director and chairman of Qianhai United Fund, as well as the director of Baoneng's listed company Zhongju High-tech, Executive Director of Glory Sun Financial Group Co., Ltd.
Risk composite rating downgraded to C
Since its establishment, Qianhai Property & Casualty Insurance has been unable to get rid of losses.
The financial report of Qianhai Property & Casualty Insurance shows that in 2021, the insurance business income will be 1.939 billion yuan, and the annual loss will be 17.83 million yuan.
As of the 2021 financial report, Qianhai Property & Casualty Insurance has total assets of 2.223 billion yuan and net assets of 443 million yuan.
The latest company solvency report shows that in the second quarter of 2022, Qianhai Property & Casualty Insurance's comprehensive solvency adequacy ratio and core solvency adequacy ratio were both 120.87%.
According to Qianhai Property & Casualty Insurance, the company is currently facing the main risks as follows: the actual capital brought about by continuous operating losses continues to decline; under the existing business scale and operating conditions, the capital occupation remains high.
In terms of insurance risk, in the second quarter of 2022, under the circumstance that the risk exposure of self-retained premiums and outstanding claims reserves decreased, the minimum capital of the company's insurance premiums and reserves risk decreased by 5.25 million yuan compared with the first quarter of 2022. The minimum capital at risk decreased by RMB 5.76 million, but the minimum capital for insurance risk remained at a high level relative to the current actual capital.
In terms of market risk, in the second quarter of 2022, Qianhai Property & Casualty Insurance will reasonably allocate investment assets and focus on controlling investment risks. Therefore, the minimum market risk capital has decreased compared with the previous quarter.
In terms of credit risk, with the development of the company's premium receivables period, the counterparty default risk faced by this part has increased. Qianhai Property & Casualty Insurance actively develops reinsurance business, transfers insurance risks through reinsurance ceding, and actively develops ceded business. , therefore facing a certain risk of counterparty default in reinsurance business, the company's credit risk minimum capital increased from the previous quarter.
Qianhai Property & Casualty Insurance stated that in the future, if the business grows rapidly, the investment assets expand and adjust the allocation, and the development of the accounts receivable period brings about an increase in the minimum capital, the company may face the risk of further decline in solvency.
The Securities Times reporter noticed that the comprehensive risk rating of Qianhai Property & Casualty Insurance in the fourth quarter of 2021 was B, and the comprehensive risk rating in the first quarter of 2022 was reduced to C, which means that the company's solvency is not up to standard.
In this regard, Qianhai Property & Casualty believes that, according to the relevant scoring standards for comprehensive risk rating, the main deduction item of the company is expected to be the solvency adequacy ratio indicator, mainly because the company's solvency has declined compared with the end of the previous year.
"Since 2022, the company has paid close attention to the trend of changes in the solvency adequacy ratio, regularly forecast the solvency adequacy ratio, and successively took a number of effective measures to ensure that the solvency adequacy ratio meets regulatory requirements." Qianhai Property and Casualty Insurance said.