On the evening of December 11, the listed company Jiangnan Mould & Plastic Technology (000700) announced that it had recently reduced its shareholding in Bank Of Jiangsu by 25 million shares, with a transaction amount of 0.226 billion yuan. Throughout the year, several listed Banks have experienced shareholding reductions by Shareholders, including Bank Of Changsha, Bank Of Hangzhou, and Qilu Bank.
On December 12, Financial Association reported (journalist Peng Kefa) that once again listed Banks' shares have been reduced by Shareholders for cashing out.
On the evening of December 11, the listed company Jiangnan Mould & Plastic Technology (000700) announced that it had recently reduced its shareholding in Bank Of Jiangsu by 25 million shares, with a transaction amount of 0.226 billion yuan. Financial Association reporters found that throughout the year, several listed Banks have experienced shareholding reductions by Shareholders, including Bank Of Changsha, Bank Of Hangzhou, and Qilu Bank.
High-level reduction, the listed company sold off 25 million shares of Bank Of Jiangsu.
Last evening, Jiangnan Mould & Plastic Technology publicly announced that from December 4 to December 11, 2024, the company sold 25 million shares of Bank Of Jiangsu through a centralized bidding method, with a transaction amount of 0.226 billion yuan. This transaction does not constitute a related transaction, nor does it constitute a significant asset restructuring as defined by the "Administrative Measures for Major Asset Restructuring of Listed Companies."
Financial Association reporters noticed that after this sale, Jiangnan Mould & Plastic Technology still holds 25.0007 million shares of Bank Of Jiangsu. This means that Jiangnan Mould & Plastic Technology has reduced half of its holdings in this instance.
Why the large-scale reduction of stocks in Bank Of Jiangsu? In response, Jiangnan Mould & Plastic Technology stated that this transaction is beneficial for optimizing the company's asset structure, revitalizing existing assets, and improving asset liquidity and efficiency, thereby meeting the company's capital needs for future development. This sale is expected to have a positive impact on the company's financial condition and cash flow. This transaction will not affect the company’s net income for the year, but will increase the company's MMF, reduce trading financial assets, and further optimize the quality of the company's Assets.
Public information shows that Jiangnan Mould & Plastic Technology was established in 1988 and was listed on the Shenzhen Stock Exchange in 1997. Its main Business relates to the development and sale of automotive bumpers and related components, as well as moulds and high-tech moulding products.
According to a report from the Financial Alliance, Jiangnan Mould & Plastic Technology can be considered an "old shareholder" of the Bank Of Jiangsu. The Bank Of Jiangsu was listed on the Shanghai Stock Exchange in 2016. At that time, public information showed that Jiangnan Mould & Plastic Technology held about 0.1 billion shares of the Bank Of Jiangsu, accounting for 0.97% of the total equity before the issuance by the Bank Of Jiangsu, with an initial investment amount of 72.6 million yuan.
It is worth noting that since the shares of the Bank Of Jiangsu were unlocked in 2017, Jiangnan Mould & Plastic Technology has repeatedly sold its shares in the Bank Of Jiangsu on the public market. Compared to the initial investment Jiangnan Mould & Plastic Technology made in the Bank Of Jiangsu, the company has made a significant profit in recent years, and combined with dividends, the total returns have exceeded 0.4 billion yuan.
Multiple listed banks have seen share reductions by shareholders this year, with Li Ka-shing and his son also participating.
The Financial Alliance noted that this year, bank stocks have performed strongly overall, providing an opportunity for many shareholders of listed banks, both large and small, to reduce their holdings and cash out, which includes several state-owned banks.
Regarding the situation in A-shares, recent cases of shareholders reducing their holdings in bank stocks include:
On October 16, the Bank Of Ningbo issued a notice, acknowledging independent director Li Hao's "Notice on the Share Reduction Plan of Bank Of Ningbo Co., Ltd.," proposing to reduce holdings of no more than 41,250 shares between November 7, 2024, and February 6, 2025, which accounts for 0.0006% of the company’s total share capital.
On October 23, Qilu Bank announced that as of October 22, 2024, Chongqing Huayu had completed the current share reduction plan, cumulatively reducing 63,698,900 shares through centralized bidding and block trading, which represents 1.32% of the company's total equity. After this reduction, Chongqing Huayu holds 194,438,142 shares of the company, accounting for 4.02% of the company's total equity.
On November 1, Hunan Copote Science Technology announced that from October 14, 2024, to October 30, 2024, it sold 4,850,600 shares of Bank Of Changsha through centralized bidding, with a transaction amount of 40.2319 million yuan. As of the date of this announcement, the company has completed the plan to sell the shares of Bank Of Changsha and will no longer hold any shares of Bank Of Changsha.
On November 25, Bank Of Hangzhou announced that China Life Insurance has successfully reduced its holdings in the bank by 59.3028 million shares through concentrated bidding, with a reduction ratio of 1%, and the reduced amount is approximately 0.77 billion yuan.
In addition, there have also been similar cases in the Hong Kong stock market recently. On October 18, the Hong Kong Stock Exchange's official website disclosed that Li Ka-shing and Li Zeju reduced their holdings in Postal Savings Bank Of China listed in Hong Kong twice, with the number of shares reduced being 78.517 million shares and 22.801 million shares respectively, with a total investment of 0.475 billion Hong Kong dollars. According to statistics, Li Ka-shing and Li Zeju have cumulatively reduced more than 0.157 billion shares of Postal Savings Bank Of China listed in Hong Kong in four transactions during October, involving funds exceeding 0.733 billion Hong Kong dollars.
On December 6, GLORIOUS SUN announced that the company sold 34 million shares and 33 million shares of Industrial And Commercial Bank Of China and China Construction Bank Corporation on December 5, with average selling prices of 4.69 Hong Kong dollars per share and 6.07 Hong Kong dollars per share, totaling 0.159 billion Hong Kong dollars and 0.2003 billion Hong Kong dollars respectively.
