Core Viewpoint - The Hong Kong Securities and Futures Commission (SFC) has reported that Deutsche Bank Tianxia Co., Ltd. (Deutsche Bank Tianxia) has a highly concentrated shareholding structure, with ten shareholders holding 98.90% of the issued H-shares as of November 18, 2025 [1][2]. Summary by Category Shareholding Structure - Ten shareholders collectively own 546,382,000 H-shares, representing 98.90% of the total issued H-shares [1][3]. - Only 6,054,500 H-shares, or 1.10%, are held by other investors [1][3]. Stock Price Performance - The closing price of Deutsche Bank Tianxia's H-shares increased from HKD 2.30 on September 29, 2025, to HKD 9.29 on November 18, 2025, marking a 304% rise [1][3]. - As of December 1, 2025, the closing price reached HKD 9.88, reflecting a 330% increase from the price on September 29, 2025 [1][3]. Market Implications - The SFC has cautioned that due to the concentrated shareholding, even minor transactions could lead to significant price fluctuations in the company's H-shares, advising shareholders and potential investors to act with caution [1][2].
香港证监会：德银天下(02418)股权高度集中 仅1.10%股份由其他投资者持有