Humanwell Healthcare (Group) Co.Ltd(600079) wants to clear the warehouse and leave the site, the state-owned capital enters the company with a large amount of money, and Tianfeng Securities Co.Ltd(601162) two shareholders may change.
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% of the 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) . So far, all three shareholders holding more than 5% of Tianfeng Securities Co.Ltd(601162) shares will be state-owned shareholders.
Analysts said that in recent years, Tianfeng Securities Co.Ltd(601162) has continuously introduced shareholders with state-owned background through refinancing and other means. With Humanwell Healthcare (Group) Co.Ltd(600079) withdrawal and the entry of Hubei’s largest financial holding group, its mixed ownership ownership ownership ownership structure dominated by state-owned capital has become clearer. If the equity transfer is completed, the proportion of state-owned capital will rise to 89.18%.
Humanwell Healthcare (Group) Co.Ltd(600079) quit and Financial Holding Group entered
According to the announcement, Humanwell Healthcare (Group) Co.Ltd(600079) plans to transfer its Tianfeng Securities Co.Ltd(601162) 680 million shares (accounting for 7.85% of Tianfeng Securities Co.Ltd(601162) total share capital) 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 signing date of 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.
If more than 162% of the shareholders of Tianfeng group complete the transfer at the same time, it means that all the shareholders of Tianfeng group have successfully completed the transfer.
Statistics show that Hongtai group, the transferee of this equity, is a class I state-owned commercial platform enterprise supervised by the SASAC of Hubei provincial government. 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 Hubei Provincial People’s government.
According to the official website of Hongtai group, the main businesses of Hongtai group include equity management, capital operation, financial investment, etc., directly governing 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 that time, some analysts said, “this means that Hubei must have financial institutions that can make a sound in the country.”
At present, among the two securities companies registered in Hubei, Tianfeng Securities Co.Ltd(601162) is the only securities company with the local state-owned assets platform as the single largest shareholder. “As long as the ownership structure dominated by state-owned capital can be continuously strengthened, Tianfeng may obtain a series of advantages such as policy preference in the future.” Some analysts said.
At present, it seems that Hongtai group may be at the right time to take over Humanwell Healthcare (Group) Co.Ltd(600079) shareholding Tianfeng Securities Co.Ltd(601162) by means of agreement transfer.
state owned capital equity ratio may rise to 90%
With Hubei Hongtai taking over the shares, the ownership structure of the company is further clarified.
In recent years, Tianfeng Securities Co.Ltd(601162) continuously introduced state-owned strategic shareholders, and the pace was significantly accelerated. 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, China Galaxy Securities Co.Ltd(601881) , Shenwan Hongyuan Group Co.Ltd(000166) , open source securities, Donghai securities, Federal Reserve securities and other securities companies, China Life Insurance Company Limited(601628) , Sino Italian asset management, CAITONG fund and other public and insurance institutions.
Tianfeng Securities Co.Ltd(601162) 2021 annual report shows that the proportion of China’s capital of its top ten shareholders has reached 68.52%. If the equity transfer is completed, the proportion will rise to 89.18%, which means that Tianfeng Securities Co.Ltd(601162) state-owned capital dominated mixed ownership ownership structure will be further consolidated.
At the same time, the above-mentioned people also analyzed that Tianfeng Securities Co.Ltd(601162) is 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, Forming the determination of the 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.”
solid performance fundamentals, net profit increased by nearly 30% last year
Under the equity change, Tianfeng Securities Co.Ltd(601162) performance was also tested. However, overall, in 2021, the company made steady progress in various businesses, continuously improved its profitability, and the net profit increased by nearly 30% year-on-year Tianfeng Securities Co.Ltd(601162) annual operating revenue was 4.406 billion yuan, a slight increase of 1.06% year-on-year; The net profit attributable to shareholders of listed companies was 586 million yuan, a year-on-year increase of 28.91%.
At present, Tianfeng Securities Co.Ltd(601162) ‘s income structure is relatively diversified and balanced. Except for investment banking, other main businesses have achieved performance growth in varying degrees. Among them, asset management business has the fastest growth rate, with a year-on-year increase of 25.6%, and the revenue growth of futures brokerage and securities brokerage has also reached 17.14% and 16.55% respectively.
Although the new regulations on asset management have led to the compression of channel business of securities companies in recent years, with the continuous improvement of active management ability, Tianfeng Securities Co.Ltd(601162) asset management business performed well, realizing an operating revenue of 1.096 billion yuan, a year-on-year increase of 25.6%. In 2021, Tianfeng Securities Co.Ltd(601162) took the establishment of asset management company as an opportunity to strengthen the construction of investment research ability and investment research team, continuously introduce market talents and improve the ability of active management. During the reporting period, the capital scale of entrusted customers of the company’s asset management business was 115657 billion yuan.
2021 is the first year of Tianfeng Securities Co.Ltd(601162) wealth management transformation. The company’s annual operating revenue of securities brokerage business is 1.597 billion yuan, a year-on-year increase of 16.55%. By the end of the reporting period, the scale of assets under custody of brokerage business was 274916 billion yuan, a year-on-year increase of 11%; 574100 new customers were added, and the total number of customers reached 1412400, a year-on-year increase of 68%.
In other businesses, Tianfeng Securities Co.Ltd(601162) 2021 achieved an investment banking revenue of 946 million yuan, a year-on-year decrease of 5.88%; Self operated business income was 1.968 billion yuan, a year-on-year increase of 3.54%; The revenue from futures brokerage business was 131 million yuan, a year-on-year increase of 17.14%; The revenue of private fund business was 280 million yuan, a year-on-year increase of 9.28%.
