On the evening of December 11, listed company Jiangnan Mould & Plastic Technology (000700) announced that it has recently reduced its shareholding in Bank Of Jiangsu by 25 million shares, with a transaction amount of 0.226 billion yuan. Multiple cases of listed banks shares being reduced by shareholders have occurred this year, involving Bank Of Changsha, Bank Of Hangzhou, Qilu Bank, and others.
On December 12, Financial Association reported (Journalist Peng Kefeng) that listed banks' shares were again reduced by shareholders for cashing out.
On the evening of December 11, listed company Jiangnan Mould & Plastic Technology (000700) announced that it has 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 multiple cases of listed banks shares being reduced by shareholders have occurred this year, involving Bank Of Changsha, Bank Of Hangzhou, Qilu Bank, and others.
High-level reduction: listed company sold 25 million shares of Bank Of Jiangsu at once.
Last night, 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 party transaction, nor does it constitute a major asset reorganization as defined by the Management Measures for Major Asset Reorganizations of Listed Companies.
Financial Association reporters noted 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 once reduced half of the shares held.
Why the large-scale reduction of Bank Of Jiangsu's stocks? In response, Jiangnan Mould & Plastic Technology stated that this transaction is beneficial to optimize the company's asset structure, mobilize existing assets, improve asset liquidity and utilization efficiency, and meet the company's funding 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 cash funds, 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 has been listed on the Shenzhen Stock Exchange since 1997. Its main business is related to the development and sales of autos, insurance bumpers, and other components, molds, and high-tech moulding products.
According to the financial news agency, Jiangnan Mould & Plastic Technology can be considered a "long-time Shareholder" of Bank Of Jiangsu. Bank Of Jiangsu was listed on the Shanghai Stock Exchange in 2016. Public information at that time indicated that Jiangnan Mould & Plastic Technology held approximately 0.1 billion Shares of Bank Of Jiangsu, accounting for 0.97% of the total equity before the issuance of Bank Of Jiangsu, with an initial investment amount of 72.6 million yuan.
It is worth noting that since the shares of Bank Of Jiangsu were released from restrictions in 2017, Jiangnan Mould & Plastic Technology has repeatedly sold shares of Bank Of Jiangsu in the public market. Compared to Jiangnan Mould & Plastic Technology's initial investment in Bank Of Jiangsu, in recent years, the company has made significant profits from Bank Of Jiangsu, and with dividends included, the total return has exceeded 0.4 billion yuan.
In the current year, several listed Banks have seen Shareholders reduce their holdings, with Li Ka-shing and his son also participating.
The financial news agency noticed that this year, Bank stocks overall have performed strongly, providing an opportunity for many listed Banks' small and large Shareholders to reduce their holdings and cash out, including prominent state-owned Banks.
In terms of A-shares, recent cases of Shareholders reducing their holdings in Bank stocks include:
On October 16, Bank Of Ningbo announced that it had received an notice from independent Director Li Hao regarding his share reduction plan for Bank Of Ningbo Co., Ltd., planning to reduce no more than 41,250 Shares from November 7, 2024, to February 6, 2025, accounting for 0.0006% of the company's total equity.
On October 23, Qilu Bank announced that as of October 22, 2024, Chongqing Huayu had completed its share reduction plan, having reduced a total of 63,698,900 Shares through centralized bidding and block trading, accounting for 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 total transaction amount of 40.2319 million yuan. As of the date of this announcement, the company's sale of Bank Of Changsha Shares plan has been completed. After this sale, the company no longer holds any Shares of Bank Of Changsha.
On November 25, Bank Of Hangzhou announced that China Life Insurance successfully reduced its holdings in the bank by 59.3028 million shares through a concentrated bidding method, with a reduction ratio of 1% and a reduction amount of approximately 0.77 billion yuan.
Additionally, there have been similar cases occurring recently in the Hong Kong stock market. 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 reductions of 78.517 million shares and 22.801 million shares respectively, involving a total of 0.475 billion Hong Kong dollars. Furthermore, according to Statistics, Li Ka-shing and Li Zeju's four reductions of Postal Savings Bank Of China Listed in Hong Kong in October had accumulated to over 0.157 billion shares, involving funds exceeding 0.733 billion Hong Kong dollars.
On December 6, GLORIOUS SUN announced that on December 5, the company sold 34 million shares and 33 million shares of Industrial And Commercial Bank Of China and China Construction Bank Corporation, with average selling prices of 4.69 Hong Kong dollars/share and 6.07 Hong Kong dollars/share, respectively, amounting to 0.159 billion Hong Kong dollars and 0.2003 billion Hong Kong dollars.
