21世纪经济报道·2025-07-08 05:57Core Viewpoint - The article discusses the significant changes in the shareholder structure of Minsheng Bank, highlighting the exit of Pan Ocean Group and the increasing stake of Liyue Group, along with the entry of various asset management companies and funds, indicating a diversification of shareholders [1][5][7]. Shareholder Structure Changes - Liyue Group has increased its stake in Minsheng Bank to 4.945%, just below the 5% threshold for mandatory disclosure, after purchasing 199 million H-shares at an average price of HKD 2.624 per share [3][4]. - Pan Ocean Group has completely exited its position in Minsheng Bank, having previously held 4.12% of shares [5][6]. New Shareholders - The diversification of Minsheng Bank's shareholder base includes new entrants such as China Great Wall Asset Management, which has been nominated to appoint a non-executive director [9][10]. - New Hope Group, a founding shareholder, has shown interest in increasing its stake, indicating confidence in the bank's long-term prospects [8]. Asset Management and Financial Strategy - Minsheng Bank has focused on disposing of non-performing assets, with a total of CNY 344.6 billion disposed of from 2021 to 2024, achieving a cash recovery rate of 27.7% [12][14]. - The bank has adopted a "cash recovery first" strategy, enhancing cash recovery efficiency through litigation and asset disposal [12][14]. Risk Management and Business Transformation - The bank has been actively managing risks associated with historical non-performing loans, particularly from Pan Ocean and Oriental Group, with significant reductions in outstanding loans [13][14]. - Minsheng Bank is transitioning towards core business operations, reducing high-risk activities, and focusing on customer engagement and foundational business growth [14].