The company was founded in 2011. By 2016, ZZ Capital owned a Hong Kong listed platform - ZZ Capital International. ZZ Capital International was listed in
Hong Kong Stock Exchange, and licenses for futures trading and asset management. On September 7, 2016, ZZ Capital International had officially changed its name from "Asian Capital" to "ZZ Capital International", with its Hong Kong Stock Exchange stock code (08295) unchanged. ZZ Capital will start its own asset management business, and assist ZZ Capital International to establish a
sustainable business ecosystem. ZZ Capital ended with a total comprehensive loss of HK$27.54 million in the Third Quarter Fiscal year 2016. In May 2016, Michael Cho joined as an executive director and CEO of ZZ Capital International. Cho would be paid a basic salary of US$1.8 million per year along with other benefits including a housing allowance of HK$130,000 ($16,755) a month, as well as participation in bonus and stock incentive schemes. By 2015, according to
China Venture Capital & Private Equity Annual Ranking 2015, it is the 18th largest domestic
private equity firm. In 2016, Zhongzhi Capital was investigated by the
China Securities Regulatory Commission (CSRC) and was found guilty of multiple offences, and violations that included: • No risk assessment was performed on Zhongzhi's private funds that were established after 21 August 2014, specifically; they do not meet the "Interim Measures for supervision and management of private investment funds" provisions of Article XVII; • Zhongzhi's legal representative Duan Di, senior management personnel Zhang Yun and Qiu Xiaoyun, have not received the qualifications necessary to manage funds, specifically, their practice qualification did not meet the "Securities
Investment Fund Law" provisions of Article IX. According to the public announcement it indicates that Zhongzhi Capital's legal representative Duan Di, have received the qualifications necessary to manage funds, but Qiu Xiaoyun no longer serves as senior management personnel. senior management personnel Zhang Yun In May 2019, Hong Kong's
Securities and Futures Commission (SFC) completed an investigation into the shareholding of ZZ Capital International. It found that only 20 shareholders held 91.53 per cent of shares, and issued a warning to potential investors to exercise "extreme caution" due to the high concentration of shareholding. Another such warning was issued by SFC in December 2019, stating that 20 shareholders held 91.22 per cent of shares at that time. In August 2023, the
National Financial Regulatory Administration, China's banking regulator, set up a task force to examine risks at Zhongzhi following missed payments by the firm. ==Ownership==