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.

Baleine News March 26, (Reporter: Jin Lei) Recently, information on the online judicial auction platform of the China Auction Industry Association shows that 590 million shares of Jiangxi Yumin Bank held by Jiangxi Boneng Industrial Group (hereinafter referred to as “Boneng Industrial”) will be publicly auctioned on April 20 on that platform, with a total reserve price of nearly 530 million yuan.

This auction will be conducted in two lots. One lot is 400 million shares, with a reserve price of 358 million yuan and an appraisal value of 511.8 million yuan; the other lot is 190 million shares, with a reserve price of 170 million yuan and an appraisal value of 243 million yuan. Both equity stakes are being auctioned due to judicial freezing and enforcement, and the reserve prices for both are 70% of the appraisal value.

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 private bank 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 others. Of these, Boneng Industrial holds 29.5%, making it the second-largest shareholder.

Previously, Nanchang Financial Holdings Co., Ltd. (hereinafter referred to as “Nanchang Jincong”), which is owned by Nanchang’s state-owned assets, took over all of its holdings from Zhengbang Group, becoming the first-largest shareholder of Yumin Bank.

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

An app listing on Tianyancha shows that Nanchang Jincong is 100% held by Nanchang Industrial Investment Group Co., Ltd., whose first-largest shareholder is the People’s Government of Nanchang City, with a shareholding proportion of 91.037%.

In fact, Yumin Bank has long been trapped in a shareholder predicament. Before Nanchang Jincong took control, Boneng Industrial had already run into problems with its capital chain. And currently, in Yumin Bank’s list of shareholders, China Heng Construction Group and Fadaka Holdings Group are also listed as parties subject to enforcement. The two companies hold 9.7% and 6% of Yumin Bank’s equity, respectively.

According to incomplete statistics by Baleine News, in recent years, multiple private banks—including Xinvwang Bank, Zhongbang Bank, Huarui Bank, Wuxi Xishang Bank, Meizhou Keashang Bank, and others—have had large equity stakes appear on auction platforms.

At present, a trend has emerged in which three private banks have introduced shareholders with state-owned asset backgrounds: Xinan Bank, Yumin Bank, and Xishang Bank. The main reason is that some of these private banks’ original major shareholders (such as Zhengbang Group and Hongdou Group) are under operational pressure themselves, and need to transfer equity to defuse risks. Meanwhile, the injection of capital from local state-owned assets helps optimize the banks’ equity structure, strengthen capital strength and market confidence, and help the banks develop more steadily.

Among them, Xinan Bank has even become the first “private bank” nationwide with absolute control by local state-owned assets. If, in this case, Yumin Bank held by Boneng Industrial is also taken over by state-owned assets, then the state-owned shareholders’ shareholding proportion would exceed 50%, making it the second state-owned-asset-controlled “private bank.” Baleine News will continue to monitor the progress of the auctions.

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责任编辑：王馨茹