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].
盛京银行突然宣布退市