Xiamen Bank Co.Ltd(601187) ( Xiamen Bank Co.Ltd(601187) . SH) recently announced that it had received a written notice from Xiamen Finance Bureau, the largest shareholder of the bank, that according to the requirements of Xiamen municipal Party committee and Xiamen Municipal People’s government, all 480 million shares of the bank held by Xiamen Finance Bureau would be transferred to Xiamen Jinyuan Investment Group Co., Ltd. (hereinafter referred to as “Jinyuan group”).
Xiamen Bank Co.Ltd(601187) said that the matter may lead to the change of the bank’s largest shareholder, while the bank has no controlling shareholder and no actual controller.
It is understood that Jinyuan group, which intends to acquire Xiamen Bank Co.Ltd(601187) 480 million shares, is a municipal state-owned financial holding group established by Xiamen municipal Party committee and Xiamen municipal government, with the Municipal Finance Bureau as the sole contributor. It was established on July 28, 2011, covering financial services, industrial investment, district development and other sectors.
At present, Jinyuan group has the financial licenses of Xiamen International Trust, the only trust legal person in Xiamen, Jinyuan unified securities, the first cross-strait joint venture securities company in China, jinmeixin consumer finance, the first cross-strait joint venture consumer finance company in China, Yuanxin Yongfeng, the first cross-strait joint public fund company in Fujian, and Xiamen venture capital Xiamen financing guarantee, the largest policy guarantee institution in Fujian Province, Xiamen’s first local AMC Xiamen asset management, regional financial factor market Xiamen property right trading center, cross-strait equity trading center and other local financial licenses filed by the CBRC.
As of the end of the year, the annual growth rate of the group’s financial assets and management funds exceeded RMB 40 billion, with an average annual turnover rate of more than RMB 3 billion.
Based on the Xiamen Bank Co.Ltd(601187) closing price of 6.68 yuan / share on March 4, the equity value transferred this time exceeds 3.2 billion yuan.
Xiamen Bank Co.Ltd(601187) also suggests that since all legal procedures have not been completed for the above share transfer matters, there is uncertainty. Investors are reminded to invest rationally and pay attention to investment risks. The bank will continue to follow up the progress of the above matters and fulfill the obligation of information disclosure in a timely manner.
Xiamen Bank Co.Ltd(601187) was founded in 1996 and listed on the main board of Shanghai Stock Exchange on October 27, 2020. It is the first listed city commercial bank in Fujian Province.
In terms of equity structure, in 2008, Xiamen Bank Co.Ltd(601187) introduced Fubon Bank (Hong Kong), a wholly-owned subsidiary of Taiwan Fubon Financial Holding, as a strategic shareholder and became the first city commercial bank with Taiwan funded background in the mainland. In 2018, Fubang Financial Holdings transferred all Xiamen Bank Co.Ltd(601187) shares held by its subsidiaries and directly held Xiamen Bank Co.Ltd(601187) .
According to the third quarterly report of Xiamen Bank Co.Ltd(601187) 2021, Xiamen Finance Bureau is the largest shareholder of the bank, holding 480 million shares, with a shareholding ratio of 18.19%. In addition, Fubang Financial Holding Co., Ltd. (17.95%), Beijing Shengda Xingye Real Estate Development Co., Ltd. (9.59%) and Fujian Fujian Septwolves Industry Co.Ltd(002029) Group Co., Ltd. (8.01%) are shareholders with a shareholding ratio of more than 5%.
The latest performance express shows that in 2021, Xiamen Bank Co.Ltd(601187) achieved an operating revenue of 5.28 billion yuan, a year-on-year decrease of 4.95%, mainly due to the fact that the data of the same period of last year included the income of bill asset management business recovered by the bank through litigation. After excluding the above incomparable factors, the operating revenue increased by 8.84% year-on-year; The net profit attributable to shareholders of listed companies was 2.162 billion yuan, a year-on-year increase of 18.65%. By the end of 2021, the bank’s total assets were 329306 billion yuan, an increase of 15.49% over the beginning of the year.
In terms of asset quality, at the end of 2021, the bank’s non-performing loan ratio was 0.91%, down 0.07 percentage points from the beginning of the year; The provision coverage rate was 370.25%, an increase of 2.22 percentage points over the beginning of the year.
