Huarong International Financial Holdings Limited. ("HRIF", stock code: 993 HK) is a Hong Kong listed licensed company of China Huarong Asset Management Co., Ltd. ("China Huarong", stock code: 2799 HK). The company's predecessor can be traced back to a local Hong Kong brokerage firm established in 1973. It was listed on the Stock Exchange of Hong Kong Limited in February 1994 and officially changed its name to HRIF in October 2015. Huarong International Securities Limited (own licenses No.1 and 4 issued by the Securities and Futures Commission of Hong Kong), Huarong International Capital Limited (own licenses No.1 and 6 issued by the Securities and Futures Commission of Hong Kong) and Huarong International Asset Management Limited (own license No.9 issued by the Securities and Futures Commission of Hong Kong), the wholly-owned Hong Kong licensed subsidiaries of HRIF, business of which are three main categories: securities business, corporate finance and asset management business, respectively. Relying on the solid strength of the controlling shareholder China Huarong, HRIF gives full play to the professional advantages in asset management and financial services, to provide customers with one-stop and high-quality integrated financial products and services.
What is HRIF？
Huarong International Financial (HRIF) originated from a Hong Kong brokerage firm established in 1973. Listed on the Hong Kong Stock Exchange in 1994, it was rebranded as HRIF in 2015. Through its subsidiaries—Huarong International Securities Limited, Huarong International Capital Limited, and Huarong International Asset Management Limited—HRIF holds multiple licenses from the Securities and Futures Commission of Hong Kong. These licenses cover securities, corporate finance, and asset management. Supported by China CITIC Financial AMC, HRIF offers integrated financial products and services, emphasizing asset management and financial expertise.
Regulation
HRIF currently holds licenses authorized by the Securities and Futures Commission of Hong Kong (SFC) with license numbers BGY986, ACV085, and AWC132.
Pros & Cons
HRIF, regulated by the Securities and Futures Commission (SFC) in Hong Kong, stands out for its extensive range of tradable securities and financial services. It provides investors with access to IPOs and various market instruments, catering to a broad spectrum of trading needs. However, the platform has certain limitations, such as a restricted range of deposit methods and the lack of live chat support, which could hinder immediate customer assistance. Additionally, HRIF's educational resources are limited, offering insufficient guidance for traders seeking to enhance their knowledge and skills.
Tradable Securities and Services
Huarong International Capital Limited (HRIC)
HRIC, a subsidiary of HRIF, is licensed by the Securities and Futures Commission of Hong Kong (SFC) to conduct Type 1 (Dealing in Securities) and Type 6 (Advising on Corporate Finance) activities. HRIC provides a comprehensive suite of financial services, including: Initial Public Offerings (IPOs) and underwritings, share and convertible bonds placing, financial advisory, compliance advisory and offshore bonds issuance etc.
Debt Capital Market: As a capital market partner of the client, HRIC could assist in offshore debt issuance for the client to gain access to offshore investors. DCM products include: Senior note, Preference shares, AT1, AT2, Structured financing.
Equity Capital Market: Combining local expertise, market insights and unique investor coverage, HRIC could provide equity capital market solutions, including: Initial Public Offerings (sponsor and underwriting), Secondary market financing (placing, rights issue, public offer, convertible bonds and pre-IPO financing).
Financial Advisory: With a deep understanding about the Hong Kong market, HRIC could provide professional advices on the corporate finance transactions including:Mergers and acquisitions, restructuring, Privatization, Compliance advisory, Independent financial advisory.
Huarong International Asset Management Limited (HRIAM)
HRIAM, another subsidiary of HRIF, holds a Type 9 (Asset Management) license from the SFC and focuses on providing tailored asset management and direct investment services. Core services include:
Private Debt Investments: Offering project financing, private debt instruments, and share pledge financing.
Equity Investments
Mezzanine Investments
Fund Management: Managing private project funds (internally financed) and public funds (subscribed by external investors).
Commissions & Fees
HRIF offers a detailed fee structure for its stock trading services. For ordinary trades, the trading commission is set at 0.25% of the transaction amount, with a minimum charge of HK$100. If you open an account and trade via the Huarong App, the commission rate is significantly reduced to 0.05% of the transaction amount, with a minimum charge of HK$25. In addition to the trading commission, there are other fees to consider: a stamp duty of 0.13% of the transaction amount, rounded up to the nearest dollar, and a trading fee of 0.00565% of the transaction amount.
Account Types
HRIF offers a variety of account types to cater to different client needs. For individual investors, there is an Individual Account. Corporate clients have several options, including the Limited Company Account for businesses incorporated in Hong Kong, the Overseas Company Account for those registered in the British Virgin Islands or Bermuda, and the Sole Proprietor / Partnership Account for small businesses and joint ventures.
Platforms
HRIF offers a mobile trading platform known as the Huarong APP, which is available for both Android and iPhone users.
Deposit & Withdrawal
HRIF offers several methods for depositing and withdrawing funds to ensure convenience for its customers.
Customers can transfer funds to HRIF's account via:
Bank's Automatic Teller Machine (ATM)
Bank's Online Network
Major Branches
After transferring the funds, customers should fax the deposit slip to (852) 3965 3540 or email it to cs@hrif.com.hk during office hours. After faxing or emailing, customers need to call (852) 3965 3568 or (852) 3965 3560 to notify HRIF's customer service department or its branch to confirm the deposit. If the notification is made after 5:00 PM (Monday to Friday), the deposit will be processed the next working day.
To withdraw funds, customers can call the customer service hotline at (852) 3965 3568 or (852) 3965 3560, or contact their branch by 11:00 AM on any trading day. The funds will then be deposited into the customer's bank account in the form of a cheque on the same day.
Customer Service
Huarong International Financial Holdings Limited (HRIF) provides multiple customer support options to assist clients with their needs. Clients can reach the main support line at (852) 3965 3965, email info@hrif.com.hk, or fax inquiries to (852) 3965 3705. For asset management-related inquiries, Huarong International Asset Management Limited can be contacted at (852) 3965 3965 or via email at AM_contact@hrif.com.hk. For corporate finance services, Huarong International Capital Limited is available at (852) 3965 3965 or through email at ibd@hrif.com.hk.
Conclusion
Overall, HRIF, regulated by the Securities and Futures Commission (SFC) in Hong Kong, stands out for its extensive range of tradable securities and financial services, providing investors with access to IPOs and various market instruments, catering to a broad spectrum of trading needs. However, the platform has certain limitations, such as a restricted range of deposit methods and the lack of live chat support, which could hinder immediate customer assistance. Additionally, HRIF's educational resources are limited, offering insufficient guidance for traders seeking to enhance their knowledge and skills.
FAQs
Q: Is HRIF a safe and reliable brokerage？
A: HRIF is a regulated brokerage under the Securities and Futures Commission (SFC) in Hong Kong, which offers investor protection in case of brokerage failure. They also implement security measures like two-factor authentication. However, extra vigilance is still recommended when trading with any online brokerage.
Q: Does HRIF offer commission-free trading？
A: No, for ordinary trades, the trading commission is set at 0.25% of the transaction amount, with a minimum charge of HK$100. If you open an account and trade via the Huarong App, the commission rate is significantly reduced to 0.05% of the transaction amount, with a minimum charge of HK$25.
Q: What kind of trading platform does HRIF offer？
A: HRIF offers a mobile trading platform known as the Huarong APP, which is available for both Android and iPhone users.
Q: Is HRIF suitable for beginners？
A: HRIF's user-friendly interface can be helpful for beginners, but it lacks sufficient educational resources.
Risk Warning
Trading online involves significant risk, including the possibility of losing all invested capital, and may not be suitable for every trader or investor. Understanding these risks thoroughly before participating in trading activities is essential. Furthermore, it's important to note that the information provided in this review is subject to change due to updates in the company's services and policies. The review's date of creation is also important, as information may have become outdated since then. Readers are advised to verify the latest information directly with the company before making any investment decisions. Ultimately, the reader bears sole responsibility for acting on the information contained in this document.
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