The sale of equity and the increase of capital by shareholders coexist. The attractiveness of licenses is differentiated. The trust industry is accelerating its business transformation.

Driven by multiple factors such as strict regulation and the need for transformation in the industry, the heat of trust industry licenses in China is clearly differentiated. On one hand, trust companies such as Cedrus Trust and New Era Trust have had their equity auctioned off, and there have even been embarrassing situations where multiple discounted transfers have received no takers. On the other hand, some trust companies' shareholders are increasing their capital in the opposite direction. Since the beginning of this year, many trust companies such as Zijin Trust, Xiamen Trust, and Aijian Trust have had their shareholders injecting capital to "replenish" them. In response to this, industry experts have stated that the trust industry is currently in a crucial period of business transformation, and the overall valuation of trust company equity has declined, making it difficult to reverse this trend in the short term. However, in the long term, trusts still have unique advantages in cross-market operations, and the industry will focus on providing more refined asset management services in the future.