信达-债券发行通函

InvestmentbyEquityFundEquityInvestmentPursuanttotheProvisionalRegulatoryGuidelinesforSupervisionofFinancialAssetManagementCompaniesonaFinancialStatementsConsolidationBasis《(金融資產管理公司並表監管指引（試行）》),whenAMCsmakeuseoftheircapitalforequityinvestment,entitieswithlegalpersonstatusinvestedbyandunderactualcontrolofAMCsshallbeincludedinthescopeofconsolidatedsupervision.TheCBRCisauthorizedtodetermineandadjustthescopeofconsolidatedsupervisionaccordingtotheequitystructuralchangesandtheriskcategoryoftheAMCs.TheinvesteesshallalsobeincludedintheconsolidatedsupervisioniftheinvesteesarenotcontrolledbytheAMCsbutonthebasisofriskcorrelationtheirgeneralrisksmayhavematerialimpactsonthefinancialconditionandriskleveloftheAMCs,orthedamagesandlossincurredbytheircompliancerisksandreputationriskshavematerialimpactsonthereputationoftheAMCs.AMCsmayexcludethefollowingorganizationsfromtheconsolidatedsupervision,namelyorganizationswhichareclosedordeclaredbankruptcyorintheliquidationprocedureduetoclosure,investeeswhichareintendedtobesoldwithinthreeyearswithAMCsholdingtheirequityinterestof50%orabove,overseassubsidiarieswhicharesubjecttotheforeignexchangeregulationsoftheplaceswheretheyarelocated,othercontingenciesorrestrictionsoncapitalallocation,orDEScompanieswhichareheldbyAMCsinshorttermoronatransitionalbasis.TrustandWealthManagementProductInvestmentInaccordancewithCircularonStandardizationofTrustandFinancingProductInvestmentsofFinancialAssetManagementCompanies(YinJianFa[2011]No.92)《(關於規範金融資產管公司投資信託和理財產品的通知》（銀監發[2011]92號）)promulgatedbytheCBRCandtheMOFandeffectivefromSeptember28,2011,theAMCswhichhavecarriedoutshareholdingreformandareintendingtoengageintrustandfinancingproductinvestmentsshallperformcorrespondingcorporategovernanceprocedures,whilethecompaniesthathavenotcarriedoutshareholdingreformshallreporttotheMOFforapproval.AMCsshallpaycloseattentiontotherisktransmissionandtransferthatmaybecausedbytrustandfinancingproductinvestmentsconductedthroughtheiraffiliatessoastostrengthenriskisolationandpreventinvestmentrisks.PrivateEquityAssetManagementManagementAuthoritiesEstablishmentEquityinvestmententerprisesshallbeestablishedincompliancewithrelevantprovisionsoftheCompanyLawofthePeople’sRepublicofChina《(中華人民共和國公司法》)andthePartnershipEnterpriseLawofthePeople’sRepublicofChina《(中華人民共和國合夥企業法》).CapitalRaisingThecapitalofequityinvestmententerprisesmayonlyberaisedthroughprivatesources.Thecapitalraisingenterpriseshallfullyrevealtheinvestmentrisksandpossibleinvestmentlossestoinvestors,andshallnotguaranteerecoveryofinvestmentprincipalorgainanyfixedreturn.ThecapitalraisingobjectivesarecertainqualifiedinvestorswhoshallbeasingleinvestorwithminimumequityinvestmentfundcontributionofnotlessthanRMB10million.Whollystate-ownedcompany,state—ownedenterprise,listedcompanyorpublicinterestinstitutionshallnotbecomeageneralpartneroftheequityinvestmentfund.SubscriptionofCapitalInvestorsshallonlysubscribefortheircapitalcontributionswiththeirownlegitimatemonetaryfund.Capitalpaymentmaybemadebymeansofapromissorysystem,i.e.,thepaymentmaybemadeinagreeduponinstallmentsintheinvestmentoperationstageofequityinvestmentfundsinaccordancewiththerelevantorganizationdocuments,includingarticlesofassociationandpartnershipagreements;Noinvestormayinvestinequityinvestmentfundsbyentrustinganyotherinvestortoholdthefundontheirbehalf;ThetotalamountofcapitalcontributionssubscribedbyallinvestorsshallnotbelessthanRMB100millionortheequivalentinforeigncurrency;Theinitialcapitalcontributionmadebyaninvestorshallnotbelessthan20%ofcapitalcontributionsubscribedbyhim.NumberofInvestorsInthecaseofacompanylimitedbysharesincorporatedinaccordancewiththerelevantlawsofChina,thereshallbenomorethan200investors,andinthecaseofalimitedliabilitycompanyorlimitedliabilitypartnership,thereshallbenomorethan50investors;Wheretheinvestorsarecollectivefundtrusts,partnershipenterprisesandotherunincorporatedentities,itmustbeverifiedthattheultimatenaturalpersoninvestorsandlegalpersoninvestorsarequalifiedinvestors,andthetotalnumberofsuchinvestorsshallbecounted;Anequityinvestmentfundoffundsmaybeconsideredasasingleinvestorwhencomplyingwiththefollowingconditions:(i)theequityinvestmentfundoffundsisinitiatedandmanagedbyaprofessionalmanagementorganization;(ii)thequalificationandnumberofinvestorsoftheequityinvestmentfundoffundsmeetrelevantrequirements;(iii)theequityinvestmentfundoffundshascompletedtherecord-filingprocedures.InvestmentAreasTheinvestmentislimitedtonon-publiclytradedequity,andidlemoneymayonlybedepositedinthebankorusedtopurchasegovernmentbondsandotherfixed-incomeinvestmentproducts.Theinvestmentdirectionshallcomplywithrelevantnationalindustrialpolicies,investmentpoliciesandmacro-controlpolicies.Theinvestmentprojectsofequityinvestmentfundsshallcomplywithrelevantcompliancemanagementproceduresoffixedassetsinvestmentprojects.Theforeignequityinvestmentfundsshallcomplywiththeinvestmentprojectapprovalprocedures.DisclosureofInformationPrivateinvestmentfundmanagersshall,withintenworkingdaysaftertheendofeachquarter,updateinformationr