BANK COMM(SH:601328) Zheng Quan Ri Bao·2025-06-15 15:54Group 1 - The core viewpoint is that major state-owned banks in China are progressing with capital increases through targeted stock issuances to enhance their core tier one capital, which is crucial for supporting future business development [1][2]. - China Bank has completed a targeted issuance of A-shares, raising a total of 165 billion yuan, fully subscribed by the Ministry of Finance, aimed at increasing its core tier one capital [1]. - The Bank of Communications has also completed a targeted issuance of approximately 14.1 billion A-shares at a price of 8.51 yuan per share, raising a total of 120 billion yuan, which will be used to supplement its core tier one capital [1]. Group 2 - The government has proposed issuing special treasury bonds worth 500 billion yuan to support the capital replenishment of major state-owned commercial banks [1]. - Other banks, such as China Construction Bank and Postal Savings Bank, are also in the process of capital increases, with Construction Bank's application for targeted A-share issuance approved by the Shanghai Stock Exchange [2]. - Analysts believe that capital market replenishment of core tier one capital will help banks meet regulatory requirements, enhance risk resilience, and support sustainable business development [2]. Group 3 - The pricing of the capital increases complies with the regulations set by the China Securities Regulatory Commission, ensuring that the issuance price is not lower than 80% of the average trading price of the stock over the previous 20 trading days, with a premium issuance achieved [3]. - The premium issuance is designed to balance the interests of new and existing shareholders, maximize the benefits for all parties, and positively influence market confidence and bank stock valuations [3].