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[Introduction] A subsidiary of Poly Group plans to transfer shares of Panzhihua Rural Commercial Bank in a "clearance-style" manner

China Fund News reporter Yishan

Following the listing of the transfer of shares in a micro-loan company, a company under Poly Group has taken new action and plans to transfer all of its shares in Panzhihua Rural Commercial Bank.

Plans to "clear out" Panzhihua Rural Commercial Bank shares

The Beijing Equity Exchange shows that on August 12, 1.7057 million shares of Panzhihua Rural Commercial Bank (accounting for 0.1316% of the total share capital) were listed for transfer, with the transfer floor price being 2.32 million yuan.

From the perspective of equity structure, the transferor China Silk Tiancheng (Panzhihua) Silk Co., Ltd. (hereinafter referred to as China Silk Tiancheng) holds a 0.1316% stake, which is consistent with the proposed transfer ratio, that is, this is a "clearance-style" transfer of shares.

The announcement shows that China Silk Tiancheng is a holding company of Poly Group. On July 12 this year, Poly Group held a meeting and passed the property transfer plan.

Tianyancha shows that, apart from Zhongsi Tiancheng, there is no Poly Group or its subsidiaries among the current shareholders of Panzhihua Rural Commercial Bank. This also means that after the completion of this equity transfer, Poly Group will no longer hold shares in Panzhihua Rural Commercial Bank.

According to the data, Panzhihua Rural Commercial Bank was formerly known as Panzhihua Rural Credit Cooperative, which was founded in 1953. In November 2011, with the approval of the State Council and the former China Banking Regulatory Commission, the three county-level rural credit cooperatives in Renhe District, Yanbian County and Miyi County were merged into a new joint-stock local banking institution to establish Panzhihua Rural Commercial Bank.

In 2023, the bank achieved operating income of 720 million yuan and net profit of 93.6619 million yuan. At the end of the reporting period, total assets reached 35.684 billion yuan and owners' equity was 2.19 billion yuan.

Focus on main responsibilities and main business

According to information disclosed by the Guangzhou Equity Exchange on August 7, Poly Group's Poly Southern Group Co., Ltd. and Poly Investment Holding Co., Ltd. simultaneously listed the transfer of shares of Guangzhou Poly Microfinance Co., Ltd. (hereinafter referred to as Poly Microfinance), totaling 200 million shares, accounting for 100% of the total share capital, and the transfer floor price was approximately 281 million yuan.

According to the announcement, Poly Group approved on July 3 and agreed to the transfer of all the equity of Poly Microfinance by the above-mentioned two subsidiaries.

According to information, Poly Group is a large central enterprise established with the approval of the State Council and the Central Military Commission and directly managed by the State-owned Assets Supervision and Administration Commission of the State Council. It currently has 11 major secondary subsidiaries and 6 listed companies controlled at home and abroad.

In June this year, the Party Committee of the State-owned Assets Supervision and Administration Commission of the State Council held an enlarged meeting to require the implementation of the "Regulations on Accountability for Preventing and Resolving Financial Risks (Trial)", pointing out that the increase should be strictly controlled. In principle, central enterprises should not establish, acquire, or newly invest in various financial institutions. In principle, they should not invest in or increase holdings in financial institutions that have little effect in serving their main industrial sectors and have greater risk spillovers.

After that, many central enterprises took action to focus on their main responsibilities and businesses and transferred the equity of their financial companies. In addition to Poly Group, China General Nuclear Power Group listed the transfer of its 6.6 million shares in Huatai Insurance, and Tianyi E-Commerce Co., Ltd., a subsidiary of China Telecom Group, listed the transfer of 41.18% of Zhongan Microfinance's equity.

Editor: Xiaomo

Reviewer: Chen Siyang

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