截至目前，两家披露股东增持动作的银行均为江苏省内上市城商行。During the period from August 23 to October 9, Eastern Airport Group increased its holdings in Bank of Nanjing, with the proportion of total share capital rising from 0 to 1.09%. Eastern Airport Group's shareholders include Jiangsu Provincial State-owned Assets Supervision and Administration Commission, Nanjing Zijin Investment Group, and Jiangsu Transportation Holdings Co., Ltd., with the latter two being the second and fourth largest shareholders of Bank of Nanjing. Yushan Capital, a wholly-owned subsidiary of Jiangsu Transportation Holdings, ranks as the fifth largest shareholder of Bank of Nanjing.
On October 10, Caixin Media reported (by Guo Zishuo) that since the start of the current A-share market rally, there have been further increases in shareholdings of bank stocks.
In the afternoon of October 10, Bank of Nanjing (601009.SH) announced that it had received notification from Eastern Airport Group Investment Co., Ltd. (referred to as Eastern Airport Group) that the company had increased its holdings in Bank of Nanjing by 115,766,582 shares using its own funds through the Shanghai Stock Exchange trading system via centralized competitive bidding trading from August 23 to October 9, accounting for 1.09% of Bank of Nanjing's total share capital. This marks the second A-share listed bank to receive shareholder increase since the current A-share market rally began.
As of now, both banks that have disclosed shareholder increases are city commercial banks listed in Jiangsu Province.
The announcement stated that the purpose of this increase is based on confidence in the future development prospects and value growth of Bank of Nanjing. Eastern Airport Group has pledged not to reduce its holdings of Bank of Nanjing shares within the statutory period.
There are mysteries behind the new shareholders.
Tianyancha shows that Eastern Airport Group's shareholders are Jiangsu Provincial Government State-owned Assets Supervision and Administration Commission, Nanjing Zijin Investment Group Co., Ltd., and Jiangsu Transportation Holdings Co., Ltd., holding 44%, 28.704%, 27.296% respectively. Nanjing Zijin Investment Group Co., Ltd. and Jiangsu Transportation Holdings Co., Ltd. are the second and fourth largest shareholders of Bank of Nanjing, holding 12.87% and 9.99% of Bank of Nanjing's shares according to Bank of Nanjing's 2024 interim report.
In addition, a wholly-owned subsidiary of Jiangsu Transportation Holdings Co., Ltd., Jiangsu Yushan Capital Management Co., Ltd., also holds 4.8% of Bank of Nanjing's equity, ranking as the fifth largest shareholder.
Since the beginning of this year, Bank of Nanjing has received multiple shareholdings from shareholders. From February 26 to March 13, the largest shareholder of Bank of Nanjing, BNP Paribas, and BNP Paribas (QFII) increased their holdings in the company by 79.869 million shares. Bank of Nanjing's semi-annual report shows that BNP Paribas (QFII) used its own funds to increase the company's holdings through the Shanghai Stock Exchange trading system with a total of 145,825,969 shares, accounting for 1.41% of the company's total issued shares at the end of the reporting period. At the end of the reporting period, BNP Paribas and BNP Paribas (QFII) jointly held 1,828,365,373 shares in the company, accounting for 17.68% of the total issued shares at the end of the reporting period.
According to Wind data, as of the close on August 23, Bank of Nanjing's stock price closed at 10.19 yuan per share. As of the close on October 9, Bank of Nanjing's stock price closed at 10.27 yuan per share. Statistics show that as of the close on October 10, Bank of Nanjing's year-to-date increase was 48.84%.
Bank of Suzhou fired the first shot in this round of shareholder shareholding spree.
On the evening of October 8, prior to this, Bank of Suzhou (002966.SZ) issued an announcement stating that the largest shareholder, Suzhou International Development Group Co., Ltd. (referred to as "Guofa Group"), notified that Guofa Group had increased its holdings in the bank by 14,775,212 shares through the secondary market from September 19, 2024 to October 8, 2024, accounting for 0.40% of Bank of Suzhou's total share capital as of September 30, 2024.
Several industry insiders also expressed continued bullishness on the banking sector's allocation value. Galaxy Securities issued a research report earlier this month, indicating that with additional policy measures, policy interest rate cuts, reserve requirement adjustments, and the prospect of further deposit rate cuts to stabilize bank spreads. Fiscal support continues to favor government investments, leveraging complementary financing needs, providing support for short-term credit deployment. Optimization of real estate policies further boosts demand, with policies on purchase restrictions, adjustments to existing home loan rates gradually being introduced, accelerating the reduction of inventory of commercial housing, improving the liquidity of real estate companies, helping optimize bank asset quality. The institution remains bullish on the allocation value of the banking sector.
Analyst Chen Guo from CSC believes in the opportunity for further valuation restoration of the banking sector. Since the beginning of this year, the banking sector has already seen significant gains. However, the industry's PB ratio still remains at the 25th percentile level of the past decade, and many industry leaders are still trading below net asset value. In the context of 'confidence revaluation bull,' the valuation of banks in the CSI 300 index component stocks is expected to see substantial restoration, addressing their awkward situation of trading below net asset value.
