HZBank(600926) 证券时报网·2025-01-24 12:08Core Viewpoint - Xinhua Insurance plans to acquire 329.6 million shares of Hangzhou Bank from the Commonwealth Bank of Australia, which will increase its stake in Hangzhou Bank to 5.87% of the total share capital [1][3]. Group 1: Investment Activity - Insurance companies are increasing their investments in high-dividend assets to enhance asset-liability management and enjoy stable dividends [2]. - Xinhua Insurance's acquisition of Hangzhou Bank marks the largest investment by an insurance company in the bank's history, totaling over 4.3 billion yuan [3]. Group 2: Financial Performance - Hangzhou Bank has consistently increased its dividend payouts, with total dividends of 2.076 billion yuan, 2.372 billion yuan, and 3.084 billion yuan from 2021 to 2023, and a mid-year dividend of 2.22 billion yuan in 2024 [2]. - The bank's stock price increased by over 60% in 2024, outperforming its peers in the banking sector [5]. - For the first three quarters of 2024, Hangzhou Bank reported operating income of 28.494 billion yuan, a year-on-year increase of 3.87%, and a net profit attributable to shareholders of 13.870 billion yuan, up 18.63% [5]. Group 3: Shareholder Structure - After the acquisition, Xinhua Insurance will become the fourth-largest shareholder of Hangzhou Bank, contributing to a stable and diversified shareholder structure [3]. - The entry of long-term insurance capital is seen as a stabilizing factor for the capital market, supported by recent government policies encouraging long-term funds to enter the market [3]. Group 4: Future Outlook - Xinhua Insurance expresses a long-term positive outlook on Hangzhou Bank's development and aims to strengthen cooperation in bancassurance business [4].