Yumin Bank is deeply entangled in a shareholder dilemma: after the largest shareholder was replaced by Nanchang State-owned Assets, all shares of the second-largest shareholder will also be auctioned off.

Blue Whale News, March 26 (Reporter Jin Lei) Recently, information from the Judicial Auction Network Platform of the China Auction Industry Association shows that Jiangxi Boneng Industrial Group (hereinafter referred to as Boneng Industrial) will publicly auction its 590 million shares of Jiangxi Yumin Bank on April 20, with a starting price of nearly 530 million yuan.

The auction will be conducted in two parts, one for 400 million shares with a starting price of 358 million yuan and an assessed value of 511.8 million yuan; the other for 190 million shares with a starting price of 170 million yuan and an assessed value of 243 million yuan. Both sets of shares are subject to judicial freezing, and the starting prices are set at 70% of the assessed values.

Public information shows that Yumin Bank was established in September 2019, with a registered capital of 2 billion yuan. It is the first private bank in Jiangxi and the 18th nationwide. It was jointly initiated by nine leading private enterprises in Jiangxi, including Zhengbang Group, Jiangxi Boneng Industrial Group Co., Ltd., and Nanchang Yifen. Among them, Boneng Industrial holds a 29.5% stake, making it the second-largest shareholder.

Previously, Nanchang Financial Holding Co., Ltd. (hereinafter referred to as Nanchang Financial) under Nanchang State-owned Assets acquired all its shares from Zhengbang Group, becoming the largest shareholder of Yumin Bank.

In August 2024, the National Financial Regulatory Administration approved Nanchang Financial’s acquisition of 600 million shares of Yumin Bank held by Zhengbang Group. After the equity change, Nanchang Financial’s stake rose to 30%, making it the largest shareholder, while Zhengbang Group exited.

According to the Tianyancha APP, Nanchang Financial is 100% owned by Nanchang Industrial Investment Group Co., Ltd., whose largest shareholder is the Nanchang Municipal People’s Government, holding 91.037% of the shares.

In fact, Yumin Bank has long been embroiled in a shareholder dilemma. Before Nanchang Financial took over, Boneng Industrial had already encountered issues with its cash flow. Currently, the shareholder list of Yumin Bank also includes Zhongheng Construction Group and Fada Holding Group, both of which have been listed as persons subject to execution, with these two companies holding 9.7% and 6% of Yumin Bank’s shares, respectively.

According to incomplete statistics from Blue Whale News, in recent years, several private banks, including Xinwang Bank, Zhongbang Bank, Huarui Bank, Wuxi Xishang Bank, and Meizhou Keshang Bank, have had large equity stakes appear on auction platforms.

Currently, three private banks have introduced shareholders with state-owned backgrounds, including Xin’an Bank, Yumin Bank, and Xishang Bank. The main reason is that some original major shareholders of private banks (such as Zhengbang Group and Hongdou Group) are facing operational pressures and need to transfer equity to mitigate risks. The entry of local state-owned capital helps optimize the bank’s equity structure, enhance capital strength and market confidence, and assist banks in developing more steadily.

Among them, Xin’an Bank has become the first “private bank” in the country to be absolutely controlled by local state-owned capital. If Boneng Industrial’s shares in Yumin Bank are also acquired by state-owned capital, the state-owned holding ratio will exceed 50%, making it the second state-owned controlled “private bank.” Blue Whale News will continue to follow the progress of the auction.

Massive information and precise interpretation can be found in the Sina Finance APP.

Editor: Wang Xinru