600643 AJ Group, the equity shares of the battle soon as he was attending the flame, the listed company will be open to acquire a banking license trip.
Recently, Aijian Group announced the progress of major asset restructuring and continued suspension of trading announcements. It disclosed for the first time that the company will participate in the capital increase and share expansion of Qujing City Commercial Bank through its wholly-owned subsidiary Aijian Trust.
According to the current intention of the two parties, Aijian Trust will become the largest shareholder of Qujing City Commercial Bank after the capital increase and share expansion, which will have a major impact on its corporate governance and business activities, and will aim to obtain actual control.
The Securities Times and Trust Baixun reporters found that there are currently 16 trusts in the industry participating in 31 banks. If Aijian Trust successfully wins the controlling stake in Qujing City Commercial Bank, it will become the third case of trust holding banks in the market. .
16 trusts participate in 31 banks
According to the statistics of Securities Times and Trust Baihuihui, as of the end of 2016, there have been 16 trust companies participating in 31 banks (including village banks), of which the first largest shareholder (including juxtaposition) is a trust company with 12 banks, including 9 rural commercial banks and 3 city commercial banks.
Among the above 12 banks, Jiangsu Bank has a large volume of 600,919 shares , and Jiangsu Trust holds 7.73% of Jiangsu Bank. From the perspective of controlling stakes, only Chongqing Trust's shareholding ratio of Chongqing Three Gorges Bank and Hefei Science and Technology Agricultural Commercial Bank is significantly higher than that of the remaining shareholders, reaching 29% and 24.99% respectively. Currently, both banks have proposed listing plans.
In addition, many trust companies are keen to invest in a number of banks. For example, Jiangsu Trust and Guoyuan Trust hold four banks' equity, and the China Yuan Trust is also the largest shareholder of three rural commercial banks. AVIC Trust also holds 3 equity interests in Jiangxi Rural Commercial Bank and enters the top ten shareholder industries.
Someone left the scene to join
A banking analyst in South China said that there are more cases in which trust companies hold bank equity, mainly because small and medium-sized city commercial banks and rural commercial banks have relatively stable performance, and the requirements for capital stocks are not high, which is in line with the long-term investment of trust companies' own funds. Demand, these banks also need external funding support.
The reporter noted that in recent years, some trust companies have begun to abandon their investment in commercial banks. Among them, Guoyuan Trust held the 14.93% stake in Anhui Tongcheng Rural Commercial Bank last year, and Huaxin Trust also sold 19.79% of the shares of Dandong Bank held in the same year.
The aforementioned banking analysts believe that some trust companies transfer bank equity. The reason is that they are not optimistic about the development prospects and profitability of small and medium-sized city commercial banks and rural commercial banks, and secondly, they are affected by the equity clearance requirements of some banks seeking listing. The company itself also has the need to improve its provisioning capacity.
On the other hand, some trust companies are still eager for bank equity.
Following the 2015 Luzhou City Commercial Bank shares, Anxin Trust 600816, diagnosed in 2016 and then to share its own funds to subscribe for Yingkou Bank issued 114 million shares, the subscription price of 3.85 yuan / share. As a result, it became the sixth largest shareholder of Cangzhou Commercial Bank with a shareholding ratio of 4.27%.
Yuan Jiwei, a researcher at Huarong Trust, said that the investment decision of the trust company on financial equity mainly depends on the strategic arrangement of its own business and the degree of recognition of the target. "At least from the current point of view, the cooperation between the bank and the bank is still very promising: in addition to the channel business, the two have similar aspects in asset securitization and wealth management."
Aijian wants to take control of the bank
The other protagonist of Love's acquisition story, Qujing City Commercial Bank, is a small city commercial bank in Yunnan. It was restructured from the original Qujing City City Letters in 2006.
After the restructuring, Qujing City Commercial Bank has frequently replenished its capital. In 2008, it completed 4 capital increase and share expansion, 2 undistributed profits, and 1 dividend distribution. The registered capital also increased from 116 million yuan. 585 million yuan, of which from 2015 to 2016, it has passed two capital increase and one share dividend distribution, increasing the registered capital by about 290 million yuan.
According to the current intention of negotiations, Aijian Trust will become the largest shareholder of Qujing City Commercial Bank after the capital increase and share expansion, which will have a major impact on the latter's corporate governance and business activities, and will aim to obtain actual control. However, according to the review requirements of the minority shareholders' qualifications, the shareholding ratio of major shareholders is generally not more than 20%, and the final shareholding ratio of Aijian Trust will also be determined through this negotiation.
According to the 2016 annual report of Qujing City Commercial Bank, as of the end of last year, the total number of shareholders of Qujing City Commercial Bank was 1,142, and the largest shareholder of Qujing City Development and Investment Co., Ltd. was a wholly-owned company of the State-owned Assets Supervision and Administration Commission, holding 70.422 million shares of Qujing Commercial Bank. The shareholding ratio is 12.04%.
However, market analysts said that "from the perspective of the announcement, Qujing City Commercial Bank has not completed the capital increase and share expansion. At that time, it will be listed as the largest shareholder with Aijian Trust. The big probability is not Qujing City Development Investment Company."
Why do you like this bank?
What is the qualification of this city commercial bank that is loved by the trust building? As of the end of 2016, the assets of Qujing City Commercial Bank increased by 9.19% from the beginning of last year to 30.223 billion yuan; last year the bank realized operating income of 905 million yuan, and achieved a net profit of 137 million yuan, down 0.47% and 42.26% year-on-year respectively.
Qujing City Commercial Bank was affected by the growth of non-performing loans last year. The provision for the provision at the end of last year increased by 136.64% to 296 million yuan from the beginning of last year, resulting in huge differences in the growth rate of the bank's revenue and net profit. Also affected by this, the bank's 2015 net profit also fell by 34.77% year-on-year to 237 million yuan.
It is worth noting that Qujing City Commercial Bank did not disclose the relevant asset quality indicators in the 2016 annual report, saying only that “the non-performing loan ratio should be controlled within 3.5% at the end of 2017â€. In addition, the bank set the 2017 total profit target to 150 million yuan, while the bank's 2016 total profit was about 206 million yuan.
From the financial data alone, Qujing Commercial Bank is not an excellent investment target. However, Aijian Group said in the announcement that Qujing City Commercial Bank currently has network outlets in Qujing, Kunming, Honghe and Chuxiong areas, and these areas have also been included in the national “One Belt, One Road†regional plan. In addition, if it can increase capital through capital increase, Participating in the mixed reform of local state-owned assets can also strengthen the financial business structure of the company and improve the financial business chain of the company.
Simply put, the location advantage of Qujing City Commercial Bank is obvious. After the investment is approved, Aijian Group can also obtain a banking license and expand the financial territory again.
In this regard, some brokerage analysts have begun to "sing more" Aijian Group, not only because of the acquisition plan just thrown, but also because of the performance of Aijian Trust in the first half of the year. The data shows that Aijian Trust realized operating income of 610 million yuan in the first half of the year and realized a net profit of 385 million yuan.
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