After a series of moves such as the listing of Hong Kong shares, the listing of A shares in the stock market, the resumption of censorship and the cessation of censorship, Qingdao Bank, which has been floating for two years in Hong Kong, has finally taken another step on the layout of 'A + H'. On the 9th, the website of the CSRC revealed that the A-share IPO prospectus of Bank of Qingdao (03866, HK) was in a pre-disclosure update status.
Prospectus shows that the bank to be listed on the Shenzhen Stock Exchange is not more than 1 billion shares, accounting for the total share capital after the release of not more than 19.77% ratio Reporter went to the Hong Kong stock market, the Bank of Qingdao extra-territorial expansion strides, asset size achieved But at the same time, the bank's non-performing loan ratio has risen year by year in recent years as of June 30, 2017, the bank's non-performing loan ratio increased from 1.19% at the end of 2015 to 1.69% .It is worth mentioning that , If Bank of Qingdao finally landed A shares, Haier may become the biggest 'winner'.
Once suspended audit
In this A-share listing plan, Qingdao Bank plans to issue no more than 1 billion shares in the Shenzhen Stock Exchange, accounting for no more than 19.77% of the total issued share capital. When slightly more.
In December 2015, Qingdao Bank chose to list on the Hong Kong Stock Exchange, and this time it listed a total of 990 million shares for sale in the world, while in December 2016, Qingdao Bank submitted a prospectus to the China Securities Regulatory Commission Initial public offering of not more than 1 billion shares, officially opened the 'A + H' listing process.
IPO process of queuing, due to the change of sponsor representatives, Bank of Qingdao once in mid-2017 suspension of audit.In October, the bank also issued a public announcement that the listing application has been resumed audit, will continue to promote the A-share listed on the relevant work .
For the proposed A-share listing, Guo Shao-chuen, chairman of Bank of Qingdao in Hong Kong held a performance conference, said A shares and H shares are two different markets, the Group listed in the H shares, the company improved the quality of management, but also better understand the international Rules, while the return of A-share listing makes the Group more impetus to the development in the Mainland, so the future will maintain the A + H listing model. In time, I hope A-share market 'as soon as possible'.
In response, Yun Jie, director of asset investment, said the current valuation of the A-share market is relatively high, the same is true of the financial sector, the same thing in the A-share selling higher price, of course, happy to come back.
Haier 'to accompany the run' 16 years
Data show that the Bank of Qingdao was established in November 1996, the Department of Qingdao City, the original 21 city credit cooperatives formed from April 28, 2008 from Qingdao City Commercial Bank renamed Bank of Qingdao, as of the end of June 2017, has been developed Shandong Province is the largest city commercial firm.
It is worth mentioning that, if Qingdao Bank successfully listed in A shares, adhere to 16 years and continue to increase holdings of Haier will undoubtedly be rewarded.Proposia shows, as of July 31, 2017, Haier Investment, Haier air-conditioning electronics, Qingdao Haier 9 companies are related shareholders of Qingdao Bank, holding a total of 812 million shares of the bank, the shareholding ratio reached 20.01%.
The reporter noted that after the listing of HKEx, Qingdao Bank, not only directly financing the issuance of new shares, but also successively completed the issuance of RMB3 billion of second-tier capital bonds and 1.208 billion US dollars of preferred shares under the advantage of expanding capital replenishment channels. , To meet the regulatory requirements of capital adequacy ratio.
According to the earnings report, as of the end of June 2017, the total assets of Bank of Qingdao reached 281.976 billion yuan, up 80.56% from the end of 2014. Meanwhile, the core tier one capital adequacy ratio, tier one capital adequacy ratio and capital adequacy ratio were 10.16% and 10.17 % And 13.67% respectively, while for this time A shares in the public offering of new shares, Bank of Qingdao said the funds raised after deducting the issuance costs will be fully used to enrich the core tier one capital, with a view to raising the capital adequacy ratio.
With the expectation of a return to A-shares, the market held a positive attitude toward the future development of Qingdao Bank. In December 2017, New Century Ratings adjusted the Bank's subjective credit rating / rating outlook from AA + / stable to AAA / stable and higher The level of several debt of the bank, said that if the future A-share market, the bank's capital replenishment channels will be further widened.
However, the rating of the New Century also pointed out that under the background of slowing regional economic growth, Qingdao Bank's credit risk management is increasingly difficult and the quality of offshore assets is under downward pressure. The reporter also noted that in terms of the NPL ratio, Bank of Qingdao Although the index remained at a relatively low level, it has been increasing year by year since the first half of 2017. The NPL ratio of the bank was 0.75%, 1.14%, 1.19%, 1.36% and 1.69% respectively.