第五大股东股权再被拍卖！南海农商行IPO审核仍被中止

Core Viewpoint - Nanhai Rural Commercial Bank is facing potential changes in its shareholder structure as the fifth largest shareholder, Nengxing Holdings, is set to auction off 65 million shares at a starting price that reflects a 30% discount from the estimated valuation, which may lead to Nengxing's exit from the top ten shareholders list [2][3] Group 1: Shareholder Changes - Nengxing Holdings will auction 58 million and 7 million shares of Nanhai Rural Commercial Bank on December 30, with a total starting price of 282 million yuan, equating to 4.33 yuan per share, which is a 30% discount from the assessed price of 6.19 yuan per share [3] - If the auction is successful, Nengxing Holdings' shareholding will drop below 50 million shares, resulting in its complete exit from the top ten shareholders of Nanhai Rural Commercial Bank [5][6] Group 2: Financial Performance and Risks - Nengxing Holdings has faced significant financial difficulties, reporting losses of 458 million yuan in 2023 and an additional 152 million yuan in the first half of 2024, totaling 610 million yuan in losses [6] - Nanhai Rural Commercial Bank's financial performance has also been under pressure, with a revenue of 4.277 billion yuan in the first three quarters of 2025, down 8.73% year-on-year, and a net profit of 1.865 billion yuan, down 17.08% year-on-year [9] Group 3: IPO Progress and Challenges - Nanhai Rural Commercial Bank has been attempting to go public since 2018, but its IPO process has faced multiple interruptions, including a recent halt due to expired financial documents [9] - The bank's capital adequacy ratios have shown a downward trend, with core Tier 1 capital adequacy ratio at 12.51% and total capital adequacy ratio at 15.04% as of the end of Q3 2025, indicating potential challenges in meeting regulatory requirements [9]