On April 1, Tianfeng Securities Co.Ltd(601162) announced that the shareholder Humanwell Healthcare (Group) Co.Ltd(600079) intends to transfer all Tianfeng Securities Co.Ltd(601162) 7.85% equity held by Tianfeng Securities Co.Ltd(601162) to Hubei Hongtai Group Co., Ltd. (hereinafter referred to as “Hongtai group”) through agreement transfer, with a total transfer price of 2.124 billion yuan.
Public information shows that Hongtai group, with a registered capital of 8 billion yuan, is the largest comprehensive financial holding group in Hubei Province. If the transfer is successfully completed, it means that contemporary group will withdraw from Tianfeng Securities Co.Ltd(601162) , and all shareholders holding more than 5% of the shares of the latter will be state-owned enterprises.
Analysts said that in recent years, Tianfeng Securities Co.Ltd(601162) on the one hand, it has continuously introduced shareholders with state-owned background through refinancing, and on the other hand, with Humanwell Healthcare (Group) Co.Ltd(600079) withdrawal and the entry of Hubei’s largest financial holding group, its mixed ownership ownership ownership structure dominated by state-owned capital has become more clear. “In the current environment, this will consolidate the strength of enterprises and promote endogenous high-quality development.”
Humanwell Healthcare (Group) Co.Ltd(600079) exit, layout of Hongtai group
According to the announcement, Humanwell Healthcare (Group) Co.Ltd(600079) intends to transfer Tianfeng Securities Co.Ltd(601162) 680087537 shares (accounting for 7.85% of Tianfeng Securities Co.Ltd(601162) total share capital) held by Humanwell Healthcare (Group) Co.Ltd(600079) to Hongtai group through agreement transfer. The price is calculated according to 90% of the closing price of Tianfeng Securities Co.Ltd(601162) share price on the date of signing the agreement. The transfer unit price is 3.123 yuan / share, and the total transfer price of the subject shares is 2.124 billion yuan.
Analysts said that if the transfer is successfully completed, it means that contemporary group will withdraw from Tianfeng Securities Co.Ltd(601162) .
Statistics show that Hongtai group, the transferee of this equity transfer, is a class I state-owned commercial platform enterprise supervised by the state owned assets supervision and Administration Commission of Hubei Province. It is the main body of centralized holding of state-owned equity (capital), the main body of provincial state-owned capital operation and the orderly advance and retreat channel of provincial state-owned capital authorized by the people’s Government of Hubei Province.
According to the official website of Hongtai group, the Group actively explores the four business models of “equity management, capital operation, financial investment and combination of industry and finance”, and directly governs 11 wholly-owned and holding subsidiaries and 1 listed company; Strategic shareholding in Bank of Hubei and other financial institutions, with more than 10 financial licenses such as local AMC, private equity fund, commercial factoring, financial leasing, financial guarantee and microfinance, has initially formed a full license financial holding group structure with centralized financing resources within the province.
In February this year, Hubei Province proposed to fully support the steady development of local legal person financial institutions and accelerate the construction of a multi-level, wide coverage and differentiated financial institution system.
At present, among the two securities companies registered in Hubei, Tianfeng Securities Co.Ltd(601162) is a securities company with the local state-owned assets platform as the single largest shareholder. At present, it seems that Hongtai group takes over Humanwell Healthcare (Group) Co.Ltd(600079) shareholding Tianfeng Securities Co.Ltd(601162) or has deep meaning by means of agreement transfer.
Tianfeng Securities Co.Ltd(601162) person in charge said that at present, China’s economy is moving from high-speed development to high-quality development. As an important pillar of the national economy and an important force in building a modern economic system, mixed ownership securities companies should take the lead in high-quality development and become an example in implementing the new development concept. “This is the historical mission of Tianfeng and a rare historical opportunity. With Hubei Hongtai taking over the shares, the ownership structure of the company will be further clarified, Tianfeng Securities Co.Ltd(601162) will promote the high-quality development of the company and create value for the society under the guidance of Party construction.”
state owned capital dominated
mixed ownership ownership ownership structure is further consolidated
In recent years, Tianfeng Securities Co.Ltd(601162) has significantly accelerated the pace of introducing state-owned strategic shareholders. Last April, Tianfeng Securities Co.Ltd(601162) completed a fixed increase of 8.18 billion yuan. The fixed increase objects include central enterprises and local state-owned platforms including Guangdong Hengjian, Qujiang financial holding, Wuhan financial holding, Xi’an free trade port and Sichuan state-owned assets, as well as China Galaxy Securities Co.Ltd(601881) , Shenwan Hongyuan Group Co.Ltd(000166) , Kaiyuan securities, Donghai securities, Joint Reserve securities and 15 public and insurance institutions such as China Life Insurance Company Limited(601628) , Zhongyi asset management, CAITONG fund, etc.
Tianfeng Securities Co.Ltd(601162) 2021 annual report shows that among its top ten shareholders, the proportion of state-owned capital has reached 68.52%. If the equity transfer is completed, the proportion will rise to 89.18%, which means that the Tianfeng Securities Co.Ltd(601162) state-owned capital dominated mixed ownership ownership structure will be further consolidated.
At the same time, the aforementioned people also analyzed that Tianfeng Securities Co.Ltd(601162) is now a typical state-owned capital led mixed ownership securities firm. In addition to the stable strategic cooperative relationship with state-owned shareholders such as Guangdong Hengjian, it can be seen from a series of actions including the introduction of Hongtai group that Tianfeng Securities Co.Ltd(601162) aims to carry out in-depth industrial and financial coordination with central enterprises and local state-owned assets platforms and create a business coordination and sharing mechanism with pan-bank financial institutions, Form the determination of business development group army. “In the future, relying on the synergy brought by shareholders in the financial industry, Tianfeng Securities Co.Ltd(601162) business tentacles may be further extended.”
