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Recently, Chang'an Bank, which had just emerged from the "1.252 billion yuan in deposits loss" crisis, had another 147 million shares of equity auction fail to proceed as scheduled, which once again attracted attention.

Cailianshe reporter learned that the suspension of the above-mentioned equity auctions was due to the bankruptcy of the equity owner Dongling Group. "The Chang'an Bank equity auction has been suspended. We have received information that Dongling Group has filed for bankruptcy." The person in charge of the above-mentioned equity auction said so. As for whether the relevant equity will continue to be auctioned in the future, the person in charge also said that it is not clear at present.

Wang Pengbo, chief analyst of the financial industry at Broadcom Consulting, believes that the auction of equity was suspended mainly because the debtor (equity owner) was declared bankrupt by the relevant creditors during the equity auction. The subsequent related equity assets still need to wait for the court to deal with them. The auction may continue, or they may be awarded to the relevant equity parties.

The seventh largest shareholder went bankrupt and reorganized, and three consecutive equity auctions of Chang'an Bank were suspended

On August 22, a reporter from Cailianshe noticed that the auction of 51.0392 million shares of Chang'an Bank held by Dongling Group was supposed to start at 10 a.m. today, but now the auction interface shows "this auction has been suspended." At the same time, the auction of about 95.657 million shares of the bank originally scheduled to start on August 19 was also suspended.

The two auctions were suspended because of the bankruptcy reorganization of the equity owner Dongling Group. Equity auction information shows that the court has accepted the bankruptcy reorganization application of the debtor Dongling Group, and the relevant equity auctions have also been suspended.

According to relevant information, although the two equity auctions failed to proceed as scheduled, they still attracted a lot of attention overall. The first auction of 95.657 million shares attracted 2,584 views and 39 people set reminders, while the second auction of 51.0392 million shares attracted 2,112 views and 43 people set reminders.

However, it is worth mentioning that this is not the first time that the Chang'an Bank equity auction has been suspended. Just a month ago, Dongling Group also planned to publicly auction 34.8828 million shares of the bank on the Alibaba auction platform. But at that time, the auction was also suspended because "the debtor was filed for bankruptcy by other creditors, and the bankruptcy reorganization procedure was ruled to be suspended." The auction has not been resumed yet.

It is understood that Dongling Group was once known as a "steel trade giant" and ranked 205th on the list of "Top 500 Chinese Enterprises in 2023" with a revenue of 125.7 billion yuan. However, at the end of July this year, as the Baoji Intermediate People's Court of Shaanxi Province accepted its bankruptcy reorganization application, Dongling Group completely went bankrupt. According to Qichacha, since 2024, Dongling Group has been the subject of execution in multiple courts due to 16 cases, with a total amount of 1.27 billion yuan.

According to the annual report, as of the end of 2023, Dongling Group is still the seventh largest shareholder of Chang'an Bank with a 4.82% stake, holding approximately 365 million shares. The two shares to be auctioned above total 147 million shares, about 40% of its holdings. Including the 34.8828 million shares whose auction was previously suspended, half of Dongling Group's Chang'an Bank shares are still undisposed.

As the storm subsides, the truth behind the "1.252 billion yuan in deposits lost" incident comes to light

In fact, in recent times, in addition to the auction of large amounts of equity, the "loss of 1.252 billion yuan in deposits" also pushed Chang'an Bank to the "forefront", and the truth was finally revealed only after the incident had fermented for many days.

Specifically, it was previously reported that the fund special account agreement deposits of three private equity products under Youce Investment totaled more than 1.2 billion yuan, but on July 3, an investor discovered that the account flow certificate printed by Chang'an Bank showed that only 86,000 yuan of the above agreement deposits were left. In response, Youce Investment sent a lawyer's letter to Chang'an Bank, pointing out that the above private equity special account violated the agreement to open online banking, resulting in the withdrawal of funds.

On August 20, Chang'an Bank issued a clarification statement, saying that after verification, the relevant media reports that "1.252 billion yuan in deposits were lost" were seriously untrue. The documents, seals, and amounts used in the "Account Balance Statement" were forged and altered. The company has reported the case to the public security organs, and the police have accepted the case for investigation. At the same time, the bank also sent a lawyer's letter to the relevant media and notarized the evidence preservation of the relevant forwarding and reprinting.

In addition, the controlling shareholder of Youce Investment also sent an "Apology Letter" to the bank and stated in a related statement that on July 10, due to disagreements among Youce Investment managers on the product exit plan, the fund manager disregarded the facts and issued a major event report to investors, suspending the subscription and redemption business of 11 funds. The reason was attributed to Chang'an Bank's failure to provide the "Account Balance Statement" on time, and providing some false voucher information, causing panic among investors. Some employees also participated in and instigated investors to report to the media, which had a negative impact on the financial order.

At this point, the truth of the above-mentioned deposit loss case finally surfaced. However, the industry generally believes that no matter what the outcome of the incident is, this incident may have a certain negative impact on Chang'an Bank's corporate image and corporate credit.

Judging from past operating conditions, in recent years, Chang'an Bank's business scale has continued to expand, and its performance has remained stable overall. The annual report shows that by the end of 2023, the bank's total assets reached 502.283 billion yuan, an increase of 14.92% from the beginning of the year; the annual operating income was 9.779 billion yuan and the net profit was 2.445 billion yuan, an increase of 11.06% and 8.63% respectively.

The information disclosure report for the first quarter of 2024 shows that as of the end of the first quarter of this year, the bank's total assets further increased to 524.075 billion yuan. At the same time, its revenue in the first quarter was 8218.553 billion yuan, a year-on-year decrease of 14.03%; its net profit was -6.5251 million yuan, a year-on-year increase of 95.51%.