SITI(SZ:000563) Chang Jiang Shang Bao·2026-01-11 23:31Core Viewpoint - Chang'an Bank, a city commercial bank in Shaanxi Province, is set to raise up to 10 billion yuan through a private placement of no more than 2.611 billion shares at a price of 3.83 yuan per share, with all investors being local state-owned enterprises [2][4][5]. Group 1: Capital Increase Details - The private placement aims to address the capital adequacy pressure faced by Chang'an Bank due to its business expansion [2][9]. - The total number of shares after the issuance will not exceed 10.188 billion, with the top ten shareholders holding 81.84% of the shares [4]. - Shaanxi Guotou A will participate with up to 800 million yuan, acquiring no more than 209 million shares, increasing its stake to 6.23% post-issuance [5][6]. Group 2: Financial Performance and Capital Adequacy - As of September 2025, Chang'an Bank's total assets reached 578.496 billion yuan, maintaining its leading position among city commercial banks in the western region [8]. - The bank's net profit for the first three quarters of 2025 was 1.882 billion yuan, a year-on-year increase of 6.11%, while its non-interest income showed a significant decline [8]. - The bank's capital adequacy ratios have declined, with the capital adequacy ratio, tier 1 capital ratio, and core tier 1 capital ratio at 11.66%, 9.62%, and 8.23% respectively, nearing regulatory minimums [9]. Group 3: Shareholding Structure and Control - The actual controller of Chang'an Bank remains the Shaanxi Provincial People's Government, with no single shareholder exceeding a 20% stake [4][6]. - Major shareholders include Shaanxi Yanchang Petroleum Group and Shaanxi Coal and Chemical Industry Group, both controlled by the Shaanxi State-owned Assets Supervision and Administration Commission [5][6]. Group 4: Historical Context and Future Outlook - Chang'an Bank was established in July 2009 through the merger of five city commercial banks and credit cooperatives in Shaanxi Province [7]. - Despite plans to support the bank's listing as outlined in the 2021 "14th Five-Year Plan for High-Quality Development of the Financial Industry in Shaanxi Province," no significant progress has been made in this regard over the past four years [9].