券商中国·2025-07-04 04:24Core Viewpoint - Hong Kong Liyue Group has increased its stake in Minsheng Bank, becoming the fourth largest shareholder, with a total holding of 4.945% of the bank's shares, just shy of the 5% threshold for mandatory disclosure [2][4]. Shareholding Changes - Hong Kong Liyue purchased approximately 199 million H-shares of Minsheng Bank at an average price of about 2.624 HKD per share, totaling around 523 million HKD (approximately 477 million RMB), which represents 0.455% of the bank's total share capital [3]. - Following this purchase, Liyue Group's total holdings in Minsheng Bank reached 2.4% of H-shares and 4.945% of total shares, making it the fourth largest shareholder [4]. - New Hope Group has also increased its stake in Minsheng Bank to 5.27%, becoming the second largest shareholder [6]. Strategic Developments - Minsheng Bank has undergone significant changes in its shareholder structure, with some major shareholders exiting and new investors entering [6]. - The bank's management has indicated that several institutional investors and private enterprises have recently become shareholders, reflecting a shift in the bank's ownership landscape [6]. - The bank has been actively managing its non-performing assets, with a total of 3,446 billion RMB in non-performing assets disposed of from 2021 to 2024, achieving cash recoveries of 953 billion RMB [8]. Risk Management and Business Strategy - Minsheng Bank has adjusted its business structure to focus on sustainable and lower-risk operations, moving away from high-risk, high-yield businesses [8]. - The bank's first-quarter performance in 2024 exceeded expectations, attributed to the successful implementation of its strategic transformation [8].