Incorporated in February 1993, SIAM is established as a joint venture of Shanghai International Trust and Investment Corporation Ltd. and Kwang Hua Asset Management Ltd. (a member of a Taiwanese conglomerate). With the joint forces of both partners, SIAM successfully raised a listed closed-end fund with a total capitalization of USD 96 million in 1993.
The shareholding of SIAM has changed over time. Currently, SIAM is an indirect wholly-owned subsidiary of Shanghai Industrial Investment (Holdings) Company Limited (“SIIC”), which acquired SIAM’s 100% equity interest in 2014 via its wholly-owned underlying subsidiaries. SIAM became a member of the SIIC group, supervised by State-owned Assets Supervision and Administration Commission of Shanghai Municipal Government. SIIC is a solid and long-established business conglomerate having a number of listed corporations within its group and one of Mainland Chinese enterprises with an extensive local representativeness in Hong Kong.
Shanghai Industrial Investment (Holdings) Company Limited (“SIIC”)
Shanghai Industrial Co., Ltd. is registered in Hong Kong in July 1981 and supervised by State-owned Assets Supervision and Administration Commission of Shanghai Municipal Government. In June 1993, the company was renamed Shanghai Industrial Investment (Holding) Co., Ltd. (“SIIC”). In May 1996, Shanghai Industrial Holding Co., Ltd. (“SIHL”, Stock Code: 0363.HK), an affiliate of SIIC, was listed in Hong Kong.
Upon great development in the past 30 years, especially in recent years, SIIC has achieved rapid expansion in scale with obvious enhancement of comprehensive strength. In 2011, total assets of SIIC exceeded 220 billion Hong Kong dollars, with three indexes of total assets, total profits and net profit attributable to the parent company all ranked top among the state-owned enterprises in Shanghai. SIIC has become a comprehensive conglomerate of Shanghai with the largest scale and most powerful strength overseas and one of Chinese enterprises with an extensive local representativeness in Hong Kong.
At present, SIIC has established five core business units including real estate, pharmaceutical, infrastructure, consumer products and equity investment with SIHL as the flagship enterprise and platform for overseas capital operations through ownership in many direct subsidiary groups and listed companies such as Shanghai Pharmaceutical (Group) Co., Ltd. (“SPG”), Shanghai Industrial Development Co., Ltd., SIIC Investment (Shanghai) Co., Ltd., Shanghai Overseas United Investment Holding Co., Ltd. and SIIC Dongtan Investment & Development (Holdings) Co., Ltd..