The rhythm of the bank's H -shares is slowing: IPO "granules have no harvest" stock p

Since the Dongguan Rural Commercial Bank landed on H shares in September 2021, the bank's impact on H shares has been stagnating. In the past nine months, the H -share market has not ushered in a Mainland bank stock market.

As of now, of the 17 pure H -shares listed banks, the stock price of 16 banks is in a "break" state.

Nearly 9 months

No bank logs in to the H -share market

Compared with the A -share market, the listing of listing in Hong Kong is simpler and the process is faster. Once upon a time, many banks, especially small and medium -sized local banks, used the H -share market as the first choice for landing in the capital market. Including Shengjing Bank, Weihai Bank, etc., they all turned to the H -share market after taking the initiative to withdraw A -share applications. In addition, postal savings banks, Zhejiang Commercial Bank, Zhengzhou Bank, etc. "A+H" Listed Bank's wish.

However, in recent years, the pace of market H -shares has slowed significantly. In one and a half years since 2020, only Bohai Bank, Weihai Bank and Dongguan Rural Commercial Bank completed the H -shares IPO, while the number of banks listed in the same period reached 6.

At the same time, the stock price of H -shares listed banks is also more sluggish than the A -share listed bank.

As of now, there are 32 listed banks in the H -share market. Among them, there are 17 banks listed in pure H shares. According to the statistical data of the same flower Shunshun, as of yesterday's close, the stock price of Jiujiang Bank was equal to the issuance of Jiujiang Bank. The remaining 16 banks had "broken". 1 Hong Kong dollars, becoming "fairy stocks". Among them, Bank of Jiangxi, with a issuance price of HK $ 6.39, has a close price of only 0.85 Hong Kong dollars as of June 13, which has shrunk by nearly 90 %.

The downturn of the H -shares listed bank in the secondary market directly caused the emergence of large -scale breaks. As of the closing of yesterday, the Hang Seng China Bank's bank stock index was 2788.84 points, which has fallen 7.86%since the second quarter. In the same period, 12 of the 17 -share listed banks in pure H -shares fell.

Professor He Yanlin of the School of Finance of the University of Foreign Economics and Trade said in an interview with the reporter of the Securities Daily that compared with the A -share market, the listing procedures for the Hong Kong stock market are relatively simple and the operation is easier. The reason is related to the H -shares listing banks in the first and secondary markets. Whether the new shares are insufficient when the first issue, or the stock price after listing has repeatedly broken, they have lowered those bank confidence that intends to realize the H -shares IPO.

Compared with A -share listed banks

H -share bank is in the lower wind

The overall weakness of the stock price of H -shares listed banks is also directly related to its poor performance. In comparison, the performance of the "carefully selected" A -share listed bank is even better, which has also led to the pressure of A -share bank's stock price, but compared with the H -shares listed bank, the performance of the stock price is relatively more than the performance Stable and more tough.

According to the annual report disclosed by the bank, among the 17 pure H -shares listed banks, a total of 5 banks in 2021 decreased the net profit of the year -on -year, and the decrease was more than 20%. The number of banks with a decline in net profit accounted for nearly 30%. Only five H -shares listed banks increased by more than 10%year -on -year net profit. On the other hand, of the 42 listed banks, 40 banks in the 42 banks have achieved positive growth year -on -year, and the net profit of 30 banks increased by more than 10%year -on -year. In terms of asset quality, 6 H -shares listed banks have a non -performing loan rate of more than 2%as of the end of last year, while the non -performing loan ratio of A -share listed banks in the same period is less than 2%.

He Yanlin believes that from the data from the annual report, it is difficult for H -shares to listed banks in terms of profitability and asset quality. Banks to go to Hong Kong, especially local banks, are generally lower than that of A -share listed banks, which will directly affect the attitude of Hong Kong stock market investors to H -shares listed banks, and make the stock price of H -share listed banks more sluggish. (Reporter Lu Dong)

[Editor in charge: Li Tong]

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