Group 1 - The article outlines the timeline of Shenyang Bank's delisting, highlighting the capital game and risk clearance over a decade [1][2][3] - During the period from 2016 to 2019, Evergrande Group became the largest shareholder of Shenyang Bank, significantly influencing its resource allocation [1][2] - The intervention of state-owned assets management in 2021 marked a critical phase in addressing the financial crisis and restructuring the bank's ownership [2][3] Group 2 - The delisting was driven by multiple pressures, including the bank's loss of financing capabilities and a significant decline in its market valuation [4][5] - Shenyang Bank's performance deteriorated, with a 59% drop in revenue from its peak in 2019 and a net profit that was only 8% of its 2017 level [6][7] - Regulatory constraints and rising operational costs further narrowed the bank's operational space, with a net interest margin close to the regulatory limit [7] Group 3 - Governance failures were highlighted, including widespread corruption among senior management, leading to significant financial misconduct [8][9] - Evergrande's control over the bank's governance structure turned it into a financing tool for its own interests, straying from its original mission [9][10] - The bank's management underwent a significant overhaul in 2023 to address governance issues and restore order [10] Group 4 - The bank's strategy post-delisting focuses on regional market engagement, with 89% of its revenue now derived from Northeast China [14] - Despite efforts to mitigate risks, unresolved legacy issues and economic pressures pose ongoing challenges for the bank's stability [15] - The case of Shenyang Bank serves as a cautionary tale for smaller banks regarding governance, risk management, and the potential for state intervention [16][17]

Core Viewpoint - Shengjing Bank has announced plans to delist from the Hong Kong Stock Exchange, following the trend of other regional banks, indicating a significant shift in the banking landscape in Northeast China [2][7]. Group 1: Delisting Plans - Shengjing Bank plans to initiate a full cash offer to acquire all circulating H-shares for approximately HKD 29.67 billion and domestic shares for about CNY 39.29 billion, totaling around HKD 68.96 billion [3][4]. - The delisting requires approval from independent H-share shareholders, with at least 75% voting in favor and no more than 10% opposing [4]. - The bank's current listing status is deemed ineffective for financing, with trading volumes significantly low, leading to a decision to optimize resource allocation by delisting [5][6]. Group 2: Financial Performance - Shengjing Bank's total assets reached CNY 1.12 trillion by the end of 2024, reflecting a 4% year-on-year growth [5]. - The bank's revenue has declined from a peak of CNY 21.002 billion in 2019 to CNY 8.577 billion in 2024, while net profit dropped from CNY 7.580 billion in 2017 to CNY 0.621 billion in 2024, a decrease of 15.21% year-on-year [6]. - The non-performing loan ratio stood at 2.68% at the end of 2024, with a provision coverage ratio of 157%, indicating a weakening ability to absorb risks [6]. Group 3: Industry Context - Shengjing Bank is the third bank in Northeast China to pursue delisting, following Jinzhou Bank and Jiutai Rural Commercial Bank, highlighting a trend of regional banks facing operational challenges [7][8]. - The overall performance of small and medium-sized banks listed in Hong Kong shows a stark contrast, with some banks experiencing significant stock price increases, while others, like Shengjing Bank, struggle with low stock prices and trading volumes [8][9]. - Analysts suggest that the "state-owned acquisition + Hong Kong delisting" model may become a pathway for other struggling regional banks to address historical issues and push for reforms, potentially accelerating industry consolidation [7][10].

Group 1 - Shenyang Bank announced plans to exit the capital market through a cash offer to acquire all remaining H-shares and domestic shares, aiming for delisting from the Hong Kong Stock Exchange [1] - The acquisition is expected to cost approximately 6.652 billion RMB, with 2.967 billion HKD allocated for H-shares and 3.929 billion RMB for domestic shares [1] - The offer price for H-shares is set at 1.32 HKD per share, representing a premium of about 15.79% over the last trading day's closing price, but an 86.49% discount compared to the estimated net asset value per share by the end of 2024 [1][2] Group 2 - Shenyang Bank provided two main reasons for the delisting: to offer shareholders better investment exit opportunities due to poor stock performance and to optimize resource allocation by reducing costs associated with maintaining a listing [2] - The bank's financial performance has been declining, with 2024 revenue at 8.577 billion RMB, down 14.57% year-on-year, and net profit at 621 million RMB, down 15.21% year-on-year [2] - The trend of delisting among Northeast China's banks is notable, with only Harbin Bank remaining listed, while Jinzhou Bank and JiuTai Rural Commercial Bank have already completed their delisting processes [2][4] Group 3 - Jinzhou Bank's delisting was completed in April 2024 after being acquired by Liaoning Financial Holdings Group, while JiuTai Rural Commercial Bank followed suit with a cash offer from Jilin Financial Holdings [4] - The delisting of Shenyang Bank marks a significant shift in the landscape of listed banks in Northeast China, with Harbin Bank's future performance and strategic choices now under scrutiny [4] - The competitive and regulatory environment in the banking sector is intensifying, raising questions about Harbin Bank's ability to maintain its listing status [4]

Core Viewpoint - Shengjing Bank announced its plan to delist from the Hong Kong Stock Exchange, citing the loss of meaningful status as a listed entity due to low trading volume and long-term stock price decline [1][2]. Group 1: Delisting Announcement - Shengjing Bank plans to delist from the Hong Kong Stock Exchange, with a total cash offer of approximately HKD 29.67 billion for H-shares and CNY 39.29 billion for domestic shares, totaling around CNY 66.52 billion [1]. - The cash offer represents a 15.79% premium over the last trading price of HKD 1.14 per H-share on August 14 [1]. Group 2: Reasons for Delisting - The bank's trading volume has nearly dried up, with an average daily trading volume of only 0.0025% of issued shares over the past 90 days, leading to a loss of equity financing capability [2]. - Shengjing Bank's stock price has declined by 4.20% from early 2025 to the suspension date, diverging from the 30.05% increase in the Hang Seng Index and 28.39% increase in the mainland bank index during the same period [2]. Group 3: Ownership and Asset Management - The major shareholder of Shengjing Bank has shifted from the Evergrande Group to the Shenyang state-owned capital system [3]. - In 2023, Shengjing Bank reached an asset disposal arrangement worth CNY 176 billion with Liaoning Assets, aimed at reducing non-performing loans and improving asset quality [3]. Group 4: Industry Context - Other banks in Northeast China, such as Jinzhou Bank and Jiutai Rural Commercial Bank, have also initiated or completed delisting processes, indicating significant challenges for regional banks listed in Hong Kong [4][5][7]. - Jinzhou Bank became the first mainland bank to delist from the Hong Kong Stock Exchange in April 2024, while Jiutai Rural Commercial Bank is expected to report a net loss of CNY 1.7 to 1.9 billion in 2024 [5][6].

Core Viewpoint - Shengjing Bank announced a comprehensive cash offer to acquire all circulating H-shares and domestic shares, with the aim of delisting from the Hong Kong Stock Exchange after the acquisition is completed [2][3] Group 1: Acquisition Details - Shengjing Bank plans to acquire H-shares for HKD 29.67 billion and domestic shares for CNY 39.29 billion [2] - The acquisition price represents a significant premium compared to the last trading price before the suspension [2] Group 2: Rationale for the Offer - The offer aims to provide shareholders with better investment realization opportunities, as Shengjing Bank's stock price has decreased by 4.20% while the Hang Seng Index and the Hang Seng Mainland Bank Index increased by 30.05% and 28.39%, respectively [2] - The low trading volume of Shengjing Bank's H-shares has limited its ability to effectively raise funds in the equity market, making the current listing status no longer a viable financing channel [2] Group 3: Benefits of Delisting - Delisting will save costs associated with maintaining the listing status and allow resources to be reallocated to business operations, enhancing regional advantages and promoting high-quality development [3] - The move will enable the bank to focus on its business development direction, fostering sustainable and healthy growth [3]

Core Viewpoint - Shengjing Bank announced a cash offer initiated by Shengjing Financial Holdings and its concert parties to acquire all remaining issued H-shares and domestic shares of Shengjing Bank [1] Group 1: Acquisition Details - The offer price for H-shares is HKD 1.32 per share, while the offer price for domestic shares is RMB 1.20 per share [1] - The total estimated cost of the acquisition is approximately RMB 6.652 billion, with HKD 2.967 billion allocated for H-shares and RMB 3.929 billion for domestic shares [1] - The acquisition is contingent upon the H-share offer becoming unconditional, which includes shareholder approval for delisting at the extraordinary general meeting and independent H-share shareholder approval at the H-share class meeting [1] Group 2: Market Impact - Shengjing Bank's H-shares resumed trading at 9 AM on August 27 following the announcement [1]

来源：新浪港股 盛京银行（02066）公布，本行已向联交所申请，自2025年8月27日上午九时正起恢复H股在联交所买 卖。 ...

盛京银行(02066.HK)及要约人沈阳盛京金控投资集团联合公布，于2025年8月26日，要约人与本行联合 宣布，中金公司将代表要约人就收购所有已发行H股(要约人及其一致行动人士已拥有的H股除外)作出 自愿有条件全面现金要约，H股要约价为每股H股1.32港元，及要约人将就收购所有已发行内资股(要约 人及其一致行动人士已拥有的内资股除外)作出自愿有条件全面现金要约，内资股要约价为每股内资股 人民币1.20元。 投行对该股关注度不高，90天内无投行对其给出评级。 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成 投资建议。 | 指标 | 盛京银行 | 銀行 行业平均 | 行业排名 | | --- | --- | --- | --- | | ROE | 0.77% | 6.44% | 38 39 | | 港股流通市值 | 26.68 乙 | 1681.56亿 | 66 62 | | 营业收入 | 85.77亿 | 1251.89亿 | 32 39 | | 净利率 | 7.5% | 28.06% | 35 39 | | 毛利率 | | | | | 危信率 ...

通过要约实现本行H股退市，有利于优化资源配置。本行H股的成交量于截至最后交易日(包括该日)的 90个交易日、180个交易日及360个交易日内的平均每日H股成交量仅占已发行H股总数的约0.0025%、 0.0345%及0.0196%。较低成交量导致本行从股权市场有效融资的能力极为有限，目前的上市地位不再 为本行经营提供切实可行的融资渠道。要约实施后，本行H股将从联交所退市，一方面有利于节省维持 上市地位相关的成本，并将上述资源重新分配至本行的业务运营，发挥区域优势，推动高质量发展;另 一方面有利于本行视实际情况所需，聚焦业务发展方向，从而推动本行业务的持续健康发展。 本行已向联交所申请，自2025年8月27日上午九时正起恢复H股在联交所买卖。 取决于H股要约成为无条件(包括但不限于股东于临时股东大会上批准退市及独立H股股东于H股类别股 东大会上批准退市)，本行将根据上市规则第6.12条申请退市。 本次要约可为股东提供变现其投资的机会。从2025年开始直到最后交易日，恒生指数(HSI.HI)上升 30.05%，恒生内地银行指数(HSMBI.HI)上升28.39%，但同期本行股价下跌4.20%。H股要约价乃较本行 ...

本次要约可为股东提供变现其投资的机会。从2025年开始直到最后交易日，恒生指数(HSI.HI)上升 30.05%，恒生内地银行指数(HSMBI.HI)上升28.39%，但同期本行股价下跌4.20%。H股要约价乃较本行 H股最后交易日于联交所所报收市价及紧接最后交易日(包括该日)前5、30、60、90、120及180个交易日 于联交所所报的平均收市价溢价。要约人认为，倘要约得以实施，将为所有股东(要约人及其一致行动 人士除外)提供难得的机会，以现金对价(较最后交易日于联交所所报收市价及紧接最后交易日(包括该 日)前5、30、60、90、120及180个交易日于联交所所报的平均收市价有吸引力的溢价)变现其持有的投 资。 通过要约实现本行H股退市，有利于优化资源配置。本行H股的成交量于截至最后交易日(包括该日)的 90个交易日、180个交易日及360个交易日内的平均每日H股成交量仅占已发行H股总数的约0.0025%、 0.0345%及0.0196%。较低成交量导致本行从股权市场有效融资的能力极为有限，目前的上市地位不再 为本行经营提供切实可行的融资渠道。要约实施后，本行H股将从联交所退市，一方面有利于节省维持 上市 ...