① Bank of Wuxi announced that the current shareholding ratio of Great Wall Life Insurance has reached 5.00%. In accordance with relevant regulations, the licensing requirements have been met. ② In less than a year, Great Wall Life has listed 3 A-share companies. It also listed the Central Plains Expressway and Zhejiang Communications Technology in June of last year. ③ The listing of Bank of Wuxi this time is an A-share bank again after a lapse of 8 years.
Financial Services Association, January 11 (Reporter Zou Juntao) Great Wall Life definitely listed the Bank of Wuxi.
On the evening of January 11, Bank of Wuxi (600908.SH) issued an “Prompt Notice on Changes in Shareholders' Equity”, showing that as of the disclosure date of this announcement, Great Wall Life Insurance Co., Ltd. (“Great Wall Life”) held 107,646,274 shares of the Bank, accounting for 5.00% of the Bank's total share capital. According to relevant regulations, Great Wall Life Insurance's shareholding ratio has already met the listing requirements.
The market has long anticipated
A Financial Services Association reporter noticed that previously, on the evening of December 28, the Bank of Wuxi issued an announcement stating that the company recently received “Approval from the Wuxi Supervisory Branch of the State Financial Supervisory Authority on the Shareholder Eligibility of Great Wall Life Insurance Co., Ltd.”, approved Great Wall Life's shareholder status, and agreed that Great Wall Life would increase its stock holdings within six months from the date of approval.
At the time, the market predicted that judging from the “Interim Measures on the Equity Management of Commercial Banks”, “Commercial Banking Law” and other relevant regulations, Great Wall Life Insurance listing the Bank of Wuxi next would be a probable event.
The announcement revealed that prior to this equity change, Great Wall Life held 97,646,349 shares of the Bank of Wuxi, accounting for 4.54% of the total share capital; it held “Wuxi Convertible Bonds” with a face value of 18,486,000 yuan, accounting for 0.63% of the “Wuxi Convertible Bonds” unconverted balance.
From December 29, 2023 to January 9, 2024, Great Wall Life increased its holdings of Bank of Wuxi to 9,999,925 shares through centralized bidding transactions in the secondary market through the Shanghai Stock Exchange trading system, accounting for 0.46% of the total share capital of the Bank of Wuxi. The capital for the increase in shares was Great Wall Life's own capital.
After the increase in holdings, Great Wall Life held a total of 107,646,274 shares of the Bank of Wuxi, accounting for 5.00% of the bank's total share capital; in addition, Great Wall Life held “Wuxi Convertible Bonds” with a face value of 37,386,000 yuan, accounting for 1.28% of the balance of Wuxi Convertible Bonds Unconverted Shares.
Bank of Wuxi stated that this change in equity will not lead to changes in the company's control and largest shareholder. Financial reports show that as of the end of the third quarter of 2023, Wuxi Taihu Xincheng Asset Management Co., Ltd. held 9.08% of the shares of the Bank of Wuxi and was its first shareholder.
It has been listed for A-shares three times in less than a year
A Financial Services Association reporter noticed that Great Wall Life listed the Bank of Wuxi before. According to Oriental Wealth Choice data, Great Wall Life has increased its holdings in the Bank of Wuxi several times in 2023.
Among them, during the 2023 quarterly report period, Great Wall Life increased its holdings of the Bank of Wuxi by 40 million shares with its own capital, and the shareholding ratio after increasing its holdings by 4.14%; during the 2023 interim reporting period, Great Wall Life continued to increase its holdings of the Bank of Wuxi by 8.64 million shares with its own capital, and the shareholding ratio rose to 4.54% after the increase in holdings. As of the 2023 three-quarter report, Great Wall Life holds 97.65 million shares of the Bank of Wuxi, holding 4.54% of the shares, making it the fourth largest shareholder.
It is worth mentioning that Great Wall Life first appeared in the top ten shareholders of the Bank of Wuxi in the fourth quarter of 2022. At the time, Great Wall Life held 2.58% of the shares of Bank of Wuxi as a “new” shareholder.
In addition to listing the Bank of Wuxi, Great Wall Life also listed two A-share companies, Zhongyuan Expressway and Zhejiang Jiaotong Ke, at the same time in June 2023. In less than a year, Great Wall Life has listed 3 A-share companies. A CIFA reporter noticed that this time, too, after a lapse of 8 years, insurance capital once again listed an A-share bank. According to data from the China Insurance Association, the most recent case of insurance capital listing of an A-share bank occurred on December 28, 2015. People's Insurance Insurance announced that Huaxia Bank was listed.
According to the latest financial report, as of the end of the third quarter of 2023, Bank of Wuxi had total assets of 233.326 billion yuan, up 10.26% year on year; achieved operating income of 3.492 billion yuan, up 0.89% year on year; net profit attributable to shareholders of listed companies was 1,676 billion yuan, up 16.14% year on year.
It is worth noting that the stock price of the Bank of Wuxi has continued to be under pressure in recent years. According to Dongfangcai.com, as of the close of trading on January 11, the Bank of Wuxi reported 5 yuan per share, and the company's net market ratio was only 0.6 times.