Another listed bank announced the “change of ownership” of the largest shareholder!
On March 3, Xiamen Bank Co.Ltd(601187) disclosure announced that the bank had recently received a notice from Xiamen Finance Bureau, the largest shareholder. According to the requirements of the municipal Party committee and the municipal government, the Finance Bureau transferred all 480 million shares of the bank to Xiamen Jinyuan investment group (hereinafter referred to as “Jinyuan group”). The latter is a municipal state-owned financial holding group established by Xiamen municipal Party committee and Xiamen municipal government, and the Municipal Finance Bureau is the only contributor.
After completing the equity transfer procedures, Jinyuan group will also replace the Municipal Finance Bureau to become the largest shareholder of Xiamen Bank Co.Ltd(601187) newly elected, holding 480 million shares of the bank, with a shareholding ratio of 18.19% Xiamen Bank Co.Ltd(601187) announcement stressed that the situation that the bank has no controlling shareholder and no actual controller remains unchanged.
before that, Bank Of Hangzhou Co.Ltd(600926) in neighboring provinces also announced on March 1 that Hangzhou urban investment and Hangzhou stock exchange, two municipal state-owned enterprises, respectively, had transferred Bank Of Hangzhou Co.Ltd(600926) 5% equity from the Commonwealth Bank of Australia, with a total price of about 8.2 billion yuan. After the completion of the transaction, Hangzhou Finance Bureau became the largest shareholder of the bank
Jinyuan group promoted to Xiamen Bank Co.Ltd(601187) the largest shareholder
According to Xiamen Bank Co.Ltd(601187) announcement, all 480 million shares of the bank held by Xiamen Finance Bureau will be transferred to Jinyuan group. Prior to this, Jinyuan group did not hold shares in the bank.
It is understood that Jinyuan group, founded in July 2011, is a municipal state-owned financial holding group established by Xiamen municipal Party committee and Xiamen municipal government, and the Municipal Finance Bureau as the sole contributor. Its business areas cover financial services, industrial investment, regional development and other sectors. Last year, the group’s operating revenue and total profit increased by 9.8% and 30.7% respectively year-on-year.
According to the disclosure on the official website of Jinyuan group, at present, the group has a number of one bank and two sessions financial licenses other than banks, including Xiamen International Trust, the only trust legal person in Xiamen, Jinyuan unified securities, the country’s first cross-strait joint venture securities company, Jinmei consumer finance, the country’s first cross-strait joint venture consumer finance company, and Yuanxin Yongfeng, the first cross-strait joint venture public fund in Fujian.
At the same time, Jinyuan group also has a number of local financial licenses, including Xiamen venture capital, the manager of Xiamen Industrial Investment Fund, Xiamen financing guarantee, the largest policy guarantee institution in Fujian Province, Xiamen AMC Xiamen asset management, the first local AMC Xiamen asset management filed with the CBRC in Xiamen, Xiamen property right trading center of regional financial element market, cross-strait equity trading center, etc.
The Chinese reporter of the securities firm learned from the local financial circles that Jinyuan group is committed to building a national first-class comprehensive financial service provider. After accepting the Xiamen Bank Co.Ltd(601187) shares held by the municipal finance, it has basically built a local financial control platform with complete licenses.
In response to the “change of ownership” of the largest shareholder, the person in charge of Xiamen Bank Co.Ltd(601187) said, “there is no more information to disclose” Xiamen Bank Co.Ltd(601187) announcement also stressed that the situation that the bank has no controlling shareholder and no actual controller will not change.
At the same time, the bank announced that all legal procedures for the above equity transfer have not been completed, and there is uncertainty. The majority of investors are reminded to invest rationally and pay attention to investment risks. “The company will continue to follow up the progress of the above matters and fulfill the obligation of information disclosure in time.”
According to the data, Xiamen Bank Co.Ltd(601187) last year, the operating revenue was 5.28 billion yuan, a slight decrease year-on-year, and the net profit attributable to shareholders was 2.16 billion yuan, a year-on-year increase of 18.6%. By the end of 2021, the asset scale of the bank was nearly 330 billion yuan.
Bank Of Hangzhou Co.Ltd(600926) shareholder structure change, additional holding of local state-owned assets
Xiamen Bank Co.Ltd(601187) the largest shareholder has changed its ownership, while Bank Of Hangzhou Co.Ltd(600926) a trillion level city commercial bank in neighboring provinces has also changed its shareholder structure recently.
On March 1, Bank Of Hangzhou Co.Ltd(600926) announced that the two municipal state-owned enterprises of Hangzhou urban investment and Hangzhou stock exchange will respectively transfer Bank Of Hangzhou Co.Ltd(600926) 5% shares from the Commonwealth Bank of Australia, with a total transaction price of about 8.2 billion yuan. The transaction has yet to fulfill the regulatory approval procedures according to law.
If the equity transfer is successfully completed, the proportion of Bank Of Hangzhou Co.Ltd(600926) equity held by Commonwealth Bank of Australia will be reduced from 15.57% to 5.57%, giving up the position of the largest shareholder of a single household and retreating to the fourth largest shareholder. At the same time, Hangzhou Finance Bureau will promote the largest shareholder of Bank Of Hangzhou Co.Ltd(600926) single household, with a shareholding ratio of 11.86%.
The Commonwealth Bank of Australia said in the announcement of the Australian stock exchange that the transaction will release capital and give priority to supporting the bank’s business development in Australia and New Zealand. Commonwealth Bank of Australia will continue to hold Bank Of Hangzhou Co.Ltd(600926) shares, support Bank Of Hangzhou Co.Ltd(600926) development and continuously improve its business partnership in Zhejiang Province.
The Research Report of China Securities Co.Ltd(601066) Securities Finance Group believes that this transaction is completed in the form of agreement transfer, and the two municipal state-owned enterprises accept the shares at a price close to the market price, which confirms Hangzhou state-owned assets’ affirmation of Bank Of Hangzhou Co.Ltd(600926) stock price and long-term good development trend in the future while avoiding stock selling pressure.
It is worth noting that although it had been the second largest shareholder for a long time, Hangzhou Finance Bureau was recognized as the actual controller of Bank Of Hangzhou Co.Ltd(600926) through the relationship of business supervisor and the person who reached an agreement with many enterprises based on administrative relationship or capital contribution relationship. By the end of 2021, the total number of shareholders in Hangzhou and its financial bureau had reached 23.55%.
According to the above research report, after the two municipal state-owned enterprises increase their holdings, the position of Bank Of Hangzhou Co.Ltd(600926) actual controller is more stable. It is expected that the strategic cooperation between Hangzhou state-owned assets and the bank will be further deepened in the future, which is conducive to the further deepening and development of the bank’s business in Hangzhou.
