Jinzhou Bank's "Equity Out of Quality" is now a secret shareholder to 2.75%still needs to grasp the internal control

The 900 million equity quality highlights the hidden shareholders, and the bad shall rose to 2.75%again. After the reform and reorganization, the equity management and corporate governance of Jinzhou Bank still yet to be further improved.

As a representative city of Northeast China Commercial Bank Jinzhou Bank Co., Ltd. (hereinafter referred to as: Jinzhou Bank, 0416.HK) reform and reorganization, it has been two and a half years. From the current disclosed performance report, Jinzhou Bank's asset size, operating income, operating income, business income, business income, business income, business income, business income, business income, business income, and operating income, business income, business income, business income, business income, and operating income, and operating income, and income,, operating income, and income,, operating income, income, and income, Related indicators of net profit at home have been significantly improved, but the quality of assets is still in a state of risk exposure, and the problem of internal control is still a top priority.

In addition, equity management and corporate governance are also suspected of illegal issues such as equity holdings. According to incomplete statistics, from December 18, 2014 to March 21, 2017, 915.22 million shares of Jinzhou Bank have been out of quality. About 900 million equity pledgee is the same company, Jinzhou Jinqiao Pavilion Co., Ltd.. The corporate industry of pledged equity has performed diverse. The shareholders of the pledged equity generally hold the "stealth" through the equity of the Jinzhou Bank, and some actual shareholders still have registered capital and less business traces.

In response to the problems of operating performance, internal control issues, and equity management, I found that the network sent an interview and communication letter to Jinzhou Bank. As of the press time, Jinzhou Bank did not make a reasonable explanation on the issues.

It is still a top priority to improve the risk of adverse operations

After two and a half years of reform and reorganization, the relevant indicators of Jinzhou Bank's operating performance have been significantly improved. According to the 2021 performance report released by Jinzhou Bank, as of the end of 2021, the total assets of Jinzhou Bank increased by 9.2%year -on -year to 849.662 billion yuan; operating income achieved 12.568 billion yuan, a year -on -year increase of 35%; the profit of the parent company reached 1.273 billion yuan , Year -on -year increased by 214.6%.

(Source: Jinzhou Bank 2021 annual report)

However, the net profit of Jinzhou Bank dropped sharply by 33.3%to 102 million yuan, which was the lowest in all H -shares listed city commercial banks. In fact, in terms of extended time, the net profit of Jinzhou Bank declined. According to data, the net profit of Jinzhou Bank in 2017 was 9.09 billion yuan, and in 2018 fell to -45.38 billion yuan. In 2019, the loss narrowed to -111 billion yuan. By 2020, the net profit was 154 million yuan. At the end of 2021, net profit was only 102 million yuan, a decrease of 33.3%year -on -year. That is to say, in the past five years, the scale of Jinzhou Bank's net profit has fallen by nearly 9 billion yuan.

(Picture source: Wind)

Behind the decline of the "avalanche" of the net profit scale is the representative profit index almost ground. Judging from the average total asset return rate, the average total asset return rate of Jinzhou Bank in 2021 is as low as 0.01%, and the average total asset return rate of Jinzhou Bank in 2017 was 1.44%. By 2018, it fell to -0.58%. After that, the straight line declined, and it fell to 0.02%in 2020.

(Source: Jinzhou Bank 2021 annual report)

While the profit index is not optimistic, the asset quality risk of Jinzhou Bank is still in the process of continuous exposure. The annual report data shows that at the end of 2021, the amount of non -performing loans of Jinzhou Bank increased from 10.288 billion yuan to 15.884 billion yuan; the non -performing loan ratio increased by 0.68 percentage points , To 2.75%. The preparation coverage rate fell 31.85 percentage points to 166.82%.

(Source: Jinzhou Bank 2021 annual report)

From the perspective of the distribution of non -performing loans, the highest non -performing rate of Jinzhou Bank is the postal service industry, which has increased from 0.33%in the end of 2020 to 14.86%at the end of 2021. The amount of non -performing loans that have received much attention is 2.711 billion yuan. In 2020, it was 1.535 billion yuan, a significant increase of 76.61%year -on -year, and the non -performing loan ratio increased from 5.45%at the end of 2020 to 9.77%. In addition, the non -performing rate of agriculture, forestry, animal husbandry and fisheries is as high as 63.12%in 2021, and it has reached 56.77%in 2020.

(Source: Jinzhou Bank 2021 annual report)

In response to the reasons for rising rates, Jinzhou Bank stated in the annual report that in 2021, the bank's corporate loan and pads rose by 1.04 percentage points, mainly due to economic uncertainty and epidemic conditions. Credit risk rises, so that the balance of non -performing loans has increased the balance.

900 million "Equity Equity" highlights the hidden secret shareholders

In June 2019, the People's Bank of China and the China Banking Regulatory Commission, together with the Liaoning Provincial Government, promoted the reform and reorganization of Jinzhou Bank. Turnon a considerable scale of risk assets through marketization and rule of law, and simultaneously increase capital expansion, repair the balance sheet, and enhance risk resistance. With the support of the leaders of government departments and regulatory departments at all levels, Jinzhou Bank introduced Beijing Chengfang Huida Enterprise Management Co., Ltd. (hereinafter referred to as: Chengfang Huida), Liaoning Financial Holding Group Co., Ltd. (hereinafter referred to as: Liaoning Golden Control), ICBC Financial Asset Investment Co., Ltd. (hereinafter: ICBC Investment), Cinda Investment Co., Ltd. (hereinafter referred to as: Cinda Investment), China Great Wall Asset Management Co., Ltd. (hereinafter referred to as Great Wall Assets) Become a regional urban commercial bank with a proportion of state -owned shares over 56%.

As of the end of 2021, from the perspective of the ten major shareholders of the bank's domestic capital, the largest shareholder of the bank was Chengfang Huida, with a shareholding ratio of 37.69%. It is 6.65%. ICBC Investment, Cinda Investment, and Great Wall assets are the third, fourth, and fifth shareholders of the bank, respectively, holding 6.02%, 3.61%, and 2.86%respectively. It is worth noting that Jinzhou Bank has the situation of equity holdings and information opaque in equity management. The corporate industry of pledged equity has performed diverse. The shareholders of the pledged equity generally hold the "stealth" through the equity of the Jinzhou Bank, and some actual shareholders still have registered capital and less business traces.

Source of Information: Enterprise Check

Jinzhou Bank did not make a reasonable response to the qualifications of some enterprise shareholders. According to the information checked by the inquiry company, on December 7, 2016, Jinzhou Hengsheng Real Estate Development Co., Ltd. pledged 1.53 million shares and 3.47 million shares held to Jinzhou Taihe Yimin Village Bank shares in two times. Limited.

Public information shows that Jinzhou Taihe Jinyin Village Bank Co., Ltd. was established on January 27, 2010, with a registered capital of 103.21 million yuan. The legal representative is Wang Feiyi and the business status is continuing. Jinzhou Taihe Yimin Village Bank Co., Ltd.'s actual controller and major shareholder are Jinzhou Bank, with a shareholding ratio and the final beneficiary shares of 59.49%.

The reporter found out that the historical shareholders found that Jinzhou Hengsheng Real Estate Development Co., Ltd. participated in Jinzhou Bank on January 1, 2014, and withdrew on January 1, 2015. So after nearly two years of exit, 5 million shares pledged. How did Jinzhou Hengsheng Real Estate Co., Ltd. do it? Jinzhou Bank did not respond.

In fact, in addition to holding the company, the most acceptable pledge is a pawn bank named Jinzhou Jinqiao Pavilion Co., Ltd. (hereinafter referred to as "Golden Bridge Pavilion"). The reporter inquired about the historical equity pledge of Jinzhou Bank from the enterprise checking platform that from January 27, 2014 to March 21, 2017, Jinzhou Bank had 96.21 million shares in Jinzhou. Among them, about 930 million equity pledgee is the same company -Jinqiao Pool.

According to public information, the registered capital of the Jinqiao Code is only 20 million yuan. The major shareholders are Jinzhou Jinqiao Investment Co., Ltd. (hereinafter referred to as "Jinqiao Investment"), and the shareholding ratio is 50%. The share ratio is 55.56%. Strangely, many shareholders of Jinzhou Bank pledged the equity of Jinzhou Bank to this pawn bank.

(Photo source: Enterprise check)

It is worth noting that this Golden Bridge has also had a relationship with Jinzhou Bank. The 2007 and 2008 annual reports showed that among the top ten shareholders of the bank, a company named Yingkou Baodi Real Estate Development Co., Ltd. (hereinafter referred to as "Yingkou Baoidi") holds 30 million shares. Top ten shareholders.

(Data source: Jinzhou Bank 2008 annual report)

Public information shows that Yingkou Baodi was established in 2001 and held 86.2%of Jinzhou Baodi Construction Group Co., Ltd. (hereinafter referred to as "Baodi Construction"). According to the information of the company's investigation, there is no other change record except for the change period of the business period in March 2017. The construction of Baodi is exactly the shareholder of Jinqiao, with a shareholding ratio of 10%.

In addition, while Jinzhou Bank has occurred in the situation of equity holdings and frequent mortgage equity of corporate legal persons, some corporate legal person shareholders are listed as the executor of the dishonesty.

For example, equity pledge information shows that on July 7, 2015, Fujian Fuma Food Group Co., Ltd. pledged 10 million shares of Jinzhou Bank to Xiamen International Bank Co., Ltd. Quanzhou Branch. However, by querying the list of shareholders of Jinzhou Bank and the list of historical shareholders, none of them found that Fujian Fuma Food Group Co., Ltd. was found.

In fact, the illegal replacement of the equity of small and medium -sized banks will bring false investment, false funding, recycling capital injection, substantial or disguised funds to escape capital. For example, after holding the equity, it is essentially a false funding for financing. For example, the pledge of more than 900 million shares of the Jinqiao pawn is still valid, and it may bring a certain resistance to Jinzhou Bank in the process of resolving bad times.

In response to the shareholders 'governance of small and medium banks, since 2018, the China Banking Regulatory Commission has taken the management of commercial bank shareholders as an important part of supervision, and has continuously released the implementation of policies and regulations on bank shareholders' governance, including commercial bank equity management, bank insurance institutions. Shareholder behavior supervision.

(Reporter Luo Xuefeng Financial Researcher Zhou Zizhang)

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