Is Shanghai Bangrong Asset Management Co., Ltd. a subsidiary of State Power?

Yes According to the announcement of Shanghai Bangrong Asset Management Co., Ltd., it is learned that this company is a wholly-owned asset management company under the State Power Investment Corporation and has an asset management business license issued by China Securities Regulatory Commission. Shanghai Bangrong Asset Management Co., Ltd. is mainly engaged in financial information services (except financial licensing business), industrial investment, asset management and investment management.