In November 2019, the King Parallel signed a cooperation agreement with Elephant Fund to jointly provide enterprises with services covering the whole process of mixed-ownership reform, including the formulation of mixed-ownership reform plans, financial consultants, the introduction of investors and services to enter the market.
The King Parallel is a leading consulting company of SOE in China. It has not only carried out a large number of SOE reform plan consultation, strategic consultation and management consultation for central enterprises, local enterprises and listed companies, but has deeply engaged in the top-level design of this round of SOE reform and provided policy consultation on many topics of SOE reform for the SASAC of the State Council, the SASAC of Beijing and the SASAC of Tibet Autonomous Region. The King Parallel has accumulated rich consulting experience of mixed-ownership reform, comprehensive reform of the Double Hundred Initiative, restructuring and transformation of investment and operation companies, strategic planning, sort management, corporate governance, organizational control, institutional mechanism, performance management and salary management, thus has the capacity to formulate comprehensive reform plans in the whole process for enterprises to promote mixed-ownership reform.
The parent company of Elephant Fund is Elephant Financial Service Company, which is jointly sponsored and established by six state-owned secondary investment companies including Huaneng Capital, South Industry Assets Management Co., Ltd., Sinomach Capital, Guohe Investment, Zhonghai Investment and Chengtong Asset Management Co., Ltd., aiming at creating an investment and financing sharing platform with central enterprises as the core. Elephant Fund focuses on industrial investment funds, investment and financing consulting and related investment consulting. The funds under its management include urban operation and rural revitalization funds, PPP funds, real estate private equity funds and industrial equity investment funds, bringing it the advantage of connecting high-quality investors and providing financial services for mixed-ownership reform enterprises.