After repeatedly triggering measures to stabilize the stock price, Jiangsu Zijin Rural Commercial Bank Co.Ltd(601860) is about to usher in the lifting of the ban on a large number of restricted shares!
On December 27, Jiangsu Zijin Rural Commercial Bank (hereinafter referred to as " Jiangsu Zijin Rural Commercial Bank Co.Ltd(601860) ") issued an announcement on the listing and circulation of some restricted shares in the initial public offering. The announcement said that the bank's total 1718357378 restricted shares will be listed and circulated on January 4, 2022, accounting for 46.94% of the bank's total share capital. If calculated at the latest closing price of 3.32 yuan / share, the market value of the lifting of the ban reaches 5.7 billion yuan.
Since this year, Jiangsu Zijin Rural Commercial Bank Co.Ltd(601860) share price has been falling endlessly, and it is difficult for executives to increase their holdings to reverse the decline of share price. Just last week, the bank again issued the suggestive announcement on triggering measures to stabilize the stock price, which is the second time the bank has issued a plan to stabilize the stock price in the year, less than a month after the implementation of the last plan.
In fact, Jiangsu Zijin Rural Commercial Bank Co.Ltd(601860) share price performance continues to be depressed this year, and the last net asset per share with a share price of more than 4.05 yuan dates back to the beginning of the year. Since its listing in 2019, the bank's share price reached an all-time high of 11.5 yuan / share in March 2019. After that, it fell all the way. At the end of November this year, it fell to an all-time low of 3.14 yuan per share.
According to the data, as of the closing on December 27, Jiangsu Zijin Rural Commercial Bank Co.Ltd(601860) closed at 3.32 yuan / share, up or down 19.04% year to date.
massive lifting of the ban is coming
According to the announcement on Jiangsu Zijin Rural Commercial Bank Co.Ltd(601860) 27, earlier, with the approval of the CSRC, Jiangsu Zijin Rural Commercial Bank Co.Ltd(601860) made an initial public offering of 366088889 RMB common shares (A shares) and was listed on the Shanghai Stock Exchange on January 3, 2019. After the issuance, the bank's total share capital was 3660888889 shares, including 3294800000 restricted shares, accounting for 90% of the bank's total share capital.
That is, next week, the bank will be the first batch of restricted shares to be lifted. The announcement shows that the restricted shares listed and circulated this time are Jiangsu Zijin Rural Commercial Bank Co.Ltd(601860) restricted shares issued in the initial public offering, with a total of 1718357378 shares, accounting for 46.94% of the bank's total share capital, and the lock-in period is 36 months from the date of listing. The announcement shows that this part of restricted shares will be listed and circulated at the expiration of the lock-in period on January 4, 2022.
"Since the formation of the restricted shares, the company has not had any share allotment, conversion of accumulation fund and other matters, and the number of share capital of the company has not changed." Jiangsu Zijin Rural Commercial Bank Co.Ltd(601860) said that as of the announcement date, the holders of restricted shares applying for listing had not fulfilled relevant commitments and affected the listing and circulation of restricted shares.
According to the verification opinions issued by the sponsor China Securities Co.Ltd(601066) , a total of 11 shareholders of the bank participated in the listing and circulation of restricted shares, of which the top three shareholders are Nanjing Zijin investment group, Jiangsu Guoxin group and Jiangsu suhao investment group.
measures to stabilize the stock price were touched twice in the year
Since this year, Jiangsu Zijin Rural Commercial Bank Co.Ltd(601860) share price has been falling endlessly, and it is difficult for executives to increase their holdings to reverse the decline of share price.
Just last week, the bank again issued the "suggestive announcement on triggering measures to stabilize the stock price", which is the second time in the year that the bank issued a similar announcement, less than a month after the implementation of the last stock price stabilization plan.
According to the announcement, Jiangsu Zijin Rural Commercial Bank Co.Ltd(601860) the latest audited net assets per share was 4.05 yuan. From November 24 to December 21 this year, the closing price of the bank's shares has been lower than the latest audited and adjusted net assets per share for 20 consecutive trading days, reaching the starting conditions for triggering measures to stabilize the stock price. December 21 (i.e. last Tuesday) is the trigger date.
Jiangsu Zijin Rural Commercial Bank Co.Ltd(601860) said it would take one or more of the following measures to stabilize the company's share price: (1) repurchase the company's shares; (2) Directors (except independent directors) and senior managers increase their shares of the company; (3) Stabilize the company's share price by means of profit distribution or conversion of capital reserve into share capital; (4) Improve the company's performance and stabilize the company's share price by reducing expenses, limiting the remuneration of senior managers and suspending the equity incentive plan; (5) Other ways approved by the regulatory authorities.
According to the relevant contents of the bank's prospectus, the board of directors of the bank will convene the board of directors within 10 days and the general meeting of shareholders within 25 days from the date when the stock price triggers the conditions for starting the stock price stabilization measures to consider the specific plan for stabilizing the stock price, implement it after fulfilling the relevant internal decision-making procedures and external approval / filing procedures (if necessary), and announce it in accordance with the information disclosure requirements of listed companies. At present, no relevant announcement has been updated.
share price decline
In fact, Jiangsu Zijin Rural Commercial Bank Co.Ltd(601860) share price performance continues to be depressed this year, and the last net asset per share with a share price of more than 4.05 yuan dates back to the beginning of the year. Since its listing in 2019, Jiangsu Zijin Rural Commercial Bank Co.Ltd(601860) share price reached an all-time high of 11.5 yuan / share in March 2019, and then fell all the way.
In the case of unsatisfactory stock price, Jiangsu Zijin Rural Commercial Bank Co.Ltd(601860) disclosed the first announcement on the scheme of stabilizing stock price in the year on April 28. At that time, it was announced that because the bank's share price triggered the starting conditions for the implementation of measures to stabilize the share price, it was determined to perform the obligation of stabilizing the share price by increasing the shares held by the then directors (excluding independent directors) and senior managers who received remuneration in the bank, and the amount of increase was not less than 25% of the after tax income received by such directors and senior managers from the bank in the previous year, That is, the total amount of increased holdings shall not be less than 2.614 million yuan.
However, the first price stabilization plan in the year did not reverse the decline of Jiangsu Zijin Rural Commercial Bank Co.Ltd(601860) share price. As of November 23, the bank's share price closed at 3.18 yuan / share, which continued to decline by more than 16% compared with 3.81 yuan / share on April 28. At the end of November this year, it fell out of the historical lowest price of 3.14 yuan per share.
After the implementation of the plan for more than half a year, the bank's above stable share price plan was implemented on November 23. It is reported that during the implementation period of the increase, the relevant increase subjects increased their holdings of 606200 shares of the bank in the form of centralized bidding with their own funds, accounting for 0.02% of the total share capital, with a cumulative increase of 2.2134 million yuan and a transaction price range of 3.17 to 3.84 yuan per share.
executives change frequently
Jiangsu Zijin Rural Commercial Bank Co.Ltd(601860) it is also true that it is rare in the industry to change the coach twice in a year. On November 15, Jiangsu Zijin Rural Commercial Bank Co.Ltd(601860) issued two consecutive announcements, indicating that the chairman and the chairman of the board of supervisors of the bank were changed together.
Specifically, the board of directors deliberated and elected Zhao yuankuan as the chairman of the Fourth Board of directors of the bank, and Tang Yu no longer served as the chairman due to work adjustment, which is less than a year since the qualification of chairman Tang Yu was approved by the supervision.
According to public information, Tang Yu has served as the president of Jiangsu Zijin Rural Commercial Bank Co.Ltd(601860) since 2013 and has served in the market for more than seven years. On August 25, 2020, Zhang Xiaojun, the former chairman of the bank, was no longer in office due to age, and Tang Yu was elected chairman. In November of the same year, the qualification of its chairman was approved by the regulatory authority.
In terms of the board of supervisors, the announcement on November 15 showed that Zhou Shihua no longer served as the chairman of the board of supervisors, member of the supervisory committee of the board of supervisors and member of the nomination and performance evaluation committee of the board of supervisors due to his age, and elected Chen Ya as the chairman of the board of supervisors. According to the bank's 2020 financial report, Chen Ya served as Jiangsu Zijin Rural Commercial Bank Co.Ltd(601860) vice president and served as party secretary and chairman of Lishui rural commercial bank.
According to the financial report data, the performance of Jiangsu Zijin Rural Commercial Bank Co.Ltd(601860) in the third quarter has not revealed a positive signal since the decline in revenue in the first half of the year. From the published financial report, the bank's operating revenue in the first three quarters of this year was 3.308 billion, a year-on-year decrease of 5.57%; The net profit attributable to the parent company was 1.189 billion, a year-on-year increase of 2.62%; Over the same period, the bank's total assets reached 217.838 billion yuan, an increase of only 0.08% over the end of last year.
It is worth noting that by the end of the third quarter, the bank's core tier 1 capital adequacy ratio, tier 1 capital adequacy ratio and capital adequacy ratio had declined compared with the first half of the year, 9.76%, 9.76% and 14.54% respectively, while the bank's above indicators had also decreased by 1.43%, 1.43% and 2.27% respectively compared with the end of 2020, and the three indicators had decreased continuously.
(brokerage China)
