Interpretation of China UnionPay: Life-oriented POS business

China UnionPay is a joint organization of China Bank Card approved by the State Council and approved by the People's Bank of China. It was established in March 2002 and is headquartered in Shanghai. As China's bank card association, China UnionPay is at the core and pivotal position of China's bank card industry, and plays a fundamental role in the development of China's bank card industry. Banks have achieved inter-system interconnection through the UnionPay interbank transaction clearing system. This allows bank cards to be used across banks, regions and cross-border. On the basis of building and operating UnionPay interbank transaction clearing system and realizing bank card networking, China UnionPay actively cooperates with commercial banks and other industrial parties to promote unified UnionPay card standard specifications, create bank card independent brands, and promote the innovative development of bank cards. Application; maintain bank cards to accept market order and prevent bank card risks.

At the beginning of its establishment, China UnionPay had a total of 85 shareholders, a huge momentum. In 2002, China UnionPay's total share capital reached 1.65 billion yuan, and there were 85 shareholders and divided into three levels. Among them, state-owned commercial banks represented by industry, agriculture, China and construction each invested 90 million yuan and tied for the largest shareholder, rather than the wholly-owned state-owned joint-stock commercial bank--Bank of Communications also entered the list of the largest shareholder. The Second Group Army is composed of nine banks including the strength of the national joint-stock commercial banks -- China Merchants Bank, Shanghai Pudong Development Bank, China CITIC Bank, China Everbright Bank and Hua Xia Bank. They each contributed RMB 50-80 million. Nearly 70 city commercial banks and urban credit cooperatives across the country form the third largest equity tribe.

The shareholder structure of China UnionPay has been constantly changing. According to media reports in July 2011, the largest shareholder of UnionPay is not the four major banks, but the China Banknote Printing and Minting Corporation under the Central Bank. In addition, Bank of China is not among the top five shareholders. According to the disclosure, China UnionPay has a total share capital of 2.93 billion shares and 152 shareholders. Among them, China Banknote Printing and Minting Corporation held 142.5 million shares, with a shareholding ratio of 4.86%; CCB held 4.78%, followed closely; ICBC, Agricultural Bank and Bank of Communications all held 3.84%, tied for the first time The three major shareholders.

It is understood that UnionPay has a large number of children and grandchildren. The subsidiaries mainly include UnionPay Business Co., Ltd. (hereinafter referred to as “UnionPay Business”), UnionPay Data Services Co., Ltd., Shanghai UnionPay Venture Capital Co., Ltd., Shanghai Commercial Bank Information Co., Ltd. and Shanghai Jinka Life Magazine Co., Ltd. In addition, UnionPay has adopted Guangzhou UnionPay Network Payment Co., Ltd., Shenzhen UnionPay Financial Network Co., Ltd., Beijing Digital Wangfujing Technology Co., Ltd., Shanghai UnionPay Electronic Payment Services Co., Ltd. and Beijing UnionPay Business Co., Ltd. through UnionPay Business.

As of the end of 2011, China UnionPay's assets reached RMB 13.8 billion, operating income was approximately RMB 6 billion, and net profit exceeded RMB 1 billion. In 2011, China UnionPay's shareholder dividend policy was RMB 0.35 per 10 shares. This is also the first time since the establishment of UnionPay, the net profit for the first time exceeded 1 billion yuan.

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