券商中国·2025-03-30 10:06Core Viewpoint - The four major state-owned banks in China, including Bank of Communications, Bank of China, China Construction Bank, and Postal Savings Bank, announced plans to issue A-shares to specific investors, with a total fundraising target of 520 billion yuan, primarily from the Ministry of Finance [1][3][4]. Group 1: Issuance Details - Each of the four banks plans to issue shares not exceeding 30% of their pre-issue total share capital, with the Ministry of Finance committing to invest a total of 500 billion yuan [1][3]. - Bank of China and China Construction Bank will issue 272.73 billion shares and 113.27 billion shares respectively, at prices of 6.05 yuan and 9.27 yuan per share [3]. - Bank of Communications plans to issue up to 137.77 billion shares at 8.71 yuan per share, raising approximately 120 billion yuan, with the Ministry of Finance contributing around 112.42 billion yuan [4]. - Postal Savings Bank aims to issue up to 205.7 billion shares at 6.32 yuan per share, raising about 130 billion yuan, with the Ministry of Finance investing approximately 117.58 billion yuan [4]. Group 2: Strategic Investment and Control - The Ministry of Finance will become the controlling shareholder of Bank of Communications after the issuance, holding 34.8% of the total shares [5]. - Other state-owned enterprises, including China Mobile and China Shipbuilding Group, are also participating in the share issuance for Postal Savings Bank, indicating a continued strategic partnership [4]. Group 3: Capital Adequacy and Economic Context - The core Tier 1 capital adequacy ratios of the six major state-owned banks are above the regulatory minimum, indicating a stable financial position [7]. - The banks are expected to enhance their capital base to support credit expansion and meet the financing needs of strategic emerging industries and key sectors [8][9]. - The current capital injection is part of a broader strategy to strengthen the banks' ability to serve the real economy and maintain financial stability amid changing economic conditions [12][13].