At the beginning of the new year, China Minsheng Banking Corp.Ltd(600016) (600016. Sh, 01988. HK) completed the transfer of more than 200 million shares.
China Oceanwide Holdings Co.Ltd(000046) Group Co., Ltd. (hereinafter referred to as “China oceanwide”) announced on January 7 that it had transferred 216 million A-Shares of the bank to Xiamen International Bank Co., Ltd. (hereinafter referred to as “Xiamen International Bank“) and had recently completed the transfer. Xiamen International Bank is a city commercial bank. It is rare for a city commercial bank to hold shares.
Recent China Minsheng Banking Corp.Ltd(600016) equity changes frequently. In addition to transfer and reduction, among the China Minsheng Banking Corp.Ltd(600016) shares held by China oceanwide not long ago, 2.016 billion shares were pledged, and 388.8 million shares were once hung on Alibaba auction platform.
Under the frequent changes of equity, the share price of China Minsheng Banking Corp.Ltd(600016) A shares is low. As of the latest closing date, the share price of China Minsheng Banking Corp.Ltd(600016) is 3.95 yuan / share, down more than 20% compared with the beginning of 2021.
equity changes frequently, and urban commercial banks “take over” joint-stock banks
The above share transfer has gone through the transfer procedures in China Securities Depository and Clearing Co., Ltd. Shanghai Branch on December 30, 2021, accounting for 0.5% of the total share capital of China Minsheng Banking Corp.Ltd(600016) . Up to now, China Minsheng Banking Corp.Ltd(600016) has no controlling shareholder and actual controller.
Before the share transfer, China oceanwide held China Minsheng Banking Corp.Ltd(600016) A shares and 2.019 billion ordinary shares. The total number of China Minsheng Banking Corp.Ltd(600016) shares held by the company and related parties was 2.77 billion shares, accounting for 6.33% of the total share capital of China Minsheng Banking Corp.Ltd(600016) .
After the transfer, China oceanwide held China Minsheng Banking Corp.Ltd(600016) a ordinary shares of 1.803 billion, and the number of shares held by its affiliates China Oceanwide International Investment Co., Ltd., Longheng Capital Co., Ltd. (hereinafter referred to as “Longheng capital”) and Oceanwide International Equity Investment Co., Ltd. remained unchanged. The total number of China Minsheng Banking Corp.Ltd(600016) shares held by China oceanwide and its related parties is 2.554 billion shares, accounting for 5.83% of the total share capital of China Minsheng Banking Corp.Ltd(600016) .
The “oceanwide system” is facing a debt crisis, and the contraction of its shareholding in China Minsheng Banking Corp.Ltd(600016) has lasted for some time.
Not long ago, China oceanwide once wanted to auction some China Minsheng Banking Corp.Ltd(600016) shares held by the judicial auction in August 2021. The reason for the auction was that China oceanwide was applied to the court for enforcement by Ping An Trust according to the notarized creditor’s right document due to debt disputes. According to the announcement, China Minsheng Banking Corp.Ltd(600016) 388.8 million shares auctioned accounted for 0.89% of the bank’s total share capital, and all the above shares have been frozen by the judiciary. However, according to the data, the Beijing Second Intermediate People’s court has withdrawn the above auction due to the consensus between China oceanwide and Ping An Trust.
Meanwhile, Longheng capital passively reduced China Minsheng Banking Corp.Ltd(600016) H shares by about 119 million shares on August 2, accounting for 0.27% of the total share capital of the bank. The passive reduction time is July 28-30, 2021.
According to the announcement, Longheng capital passively reduced its holdings of China Minsheng Banking Corp.Ltd(600016) part of H shares held and pledged due to triggering the loan agreement. So far, from July 15 to July 30, Longheng capital has passively reduced China Minsheng Banking Corp.Ltd(600016) H shares by about 261 million shares.
In addition to “oceanwide system”, China Minsheng Banking Corp.Ltd(600016) shareholder Dongfang shares and its holding parent company Orient Group Incorporation(600811) and Huaxia life insurance signed the unanimous action agreement termination agreement in April 2021. Before the termination of the agreement, Huaxia life held 4.91% of the equity of China Minsheng Banking Corp.Ltd(600016) , 2.92% of Dongfang shares and 0.08% of Orient Group Incorporation(600811) , with a total shareholding of 7.91%. This part of the equity may also change accordingly.
the performance is under pressure and the stock price is depressed
With the continuous debt disputes among shareholders and frequent equity changes, China Minsheng Banking Corp.Ltd(600016) its own business situation is difficult to be optimistic.
According to the third quarterly report of the bank in 2021, the operating revenue during the reporting period was 42.86 billion yuan, a decrease of 5.2% over the beginning of the year; The net profit attributable to the parent company was 35.487 billion yuan, a year-on-year decrease of 4.93%. The previous 2020 annual report showed that its net profit attributable to the parent decreased significantly by 36.25% year-on-year.
In addition, the semi annual report of China Minsheng Banking Corp.Ltd(600016) 2021 shows that as of the end of the reporting period, the loan balance of the bank’s main shareholder China oceanwide and its affiliated enterprises in China Minsheng Banking Corp.Ltd(600016) was 21.243 billion yuan.
As of the closing on January 7, China Minsheng Banking Corp.Ltd(600016) A shares had a share price of 3.95 yuan / share, down more than 20% from the closing price of 4.96 yuan / share on January 4, 2021. On September 22 last year, it hit 3.86 yuan / share, a new low since 2015. The share price of the bank’s H shares was HK $3.07/share, down 25% from the beginning of 2021.
According to the China Minsheng Banking Corp.Ltd(600016) announcement, on December 23, 2020, 13 executives, including Gao Yingxin, increased their holdings of H-share ordinary shares of the bank with their own funds, with a transaction price range of HK $4.18/share to HK $4.30/share, with a total of 2.75 million additional shares; From May 17 to 18, 2021, Gao Yingxin and 14 senior executives increased their holdings of A-Shares of the bank, totaling 2330000 shares. It doesn’t seem to work at the moment.
(source: First Finance)
