券商中国·2025-06-27 02:09Core Viewpoint - The article discusses the recent developments at Minsheng Bank, including changes in its shareholder structure, strategies for managing non-performing assets, and the bank's approach to revenue and net interest margin challenges. Shareholder Changes - New shareholders have emerged, with New Hope Group becoming the second-largest shareholder after increasing its stake through the secondary market [2][3] - The exit of the "Pan Ocean" group as a major shareholder has been confirmed, with their holdings reduced to just one share [3][4] - Longcheng Asset Management has also become a significant shareholder, holding over 3% of the bank's shares and nominating a representative for the board [2][3] Non-Performing Asset Management - Minsheng Bank has adopted a cash recovery-first strategy for handling non-performing assets, utilizing litigation and asset disposal methods [4][5] - From 2021 to 2024, the bank disposed of non-performing assets totaling 344.6 billion, achieving cash recoveries of 95.3 billion, with a cash recovery rate of 27.7% [4] - The bank reported a loan balance of 76.4 billion from the Oriental Group, with ongoing litigation expected to have limited financial impact [4][5] Revenue and Net Interest Margin Strategies - The bank's management acknowledged challenges in sustaining revenue growth and net interest margin due to a low-interest environment [6][7] - The bank's first-quarter net interest margin was reported at 1.41%, showing a year-on-year increase of 3 basis points [7][8] - The bank is focusing on long-term strategies, including optimizing asset-liability structures and enhancing customer experience to improve profitability [6][7] Retail Banking and Wealth Management - Retail banking is prioritized as a long-term strategic focus, with significant growth in retail business income and a 17% increase in average daily demand deposits [9][10] - The bank's wealth management business has seen over 30% growth in intermediary income, emphasizing a stable and trustworthy investment approach for clients [10]