Starting from 1 yuan! What is the situation?, Bank Equity Rural Commercial | Equity | Bank
On July 13th, reporters found through multiple auction platforms that multiple banks' equity will be auctioned at a starting price of 1 yuan, including Jiangxi Xinjian Rural Commercial Bank, Sichuan Ganzi Rural Commercial Bank, Sichuan Xuanhan Rural Commercial Bank, Anshan Bank, etc.
Since the beginning of this year, the overall situation of equity auctions in small and medium-sized banks has been poor, with a trend of polarization. Industry insiders analyze that the cooling of equity in small and medium-sized banks is related to investors' profit expectations for banks. With the steady recovery of the economy, the asset quality of some small and medium-sized banks has improved, and high-quality financial assets will also be favored by investors.
Starting from 1 yuan but still being rejected?
Recently, reporters found on multiple auction platforms that the starting price for equity auctions in multiple banks is 1 yuan. For example, the 50000 shares of Sichuan Ganzi Rural Commercial Bank equity that will be auctioned off on July 16th have an evaluation price of 229000 yuan and a starting price of only 1 yuan. Currently, it has attracted nearly 400 onlookers and no one has registered yet.
Industry insiders in the picture industry point out that for small and medium-sized banks, it is common for hundreds of onlookers to participate in bidding without anyone participating. Many bidders use extremely low amounts as the starting price to attract the attention of bidders. But it is also mentioned that "starting from 1 yuan" is often a gimmick for auction companies, and there are not many opportunities to "pick up loopholes".
In response to this, the reporter contacted some auction companies that started bidding on bank equity with a starting price of 1 yuan. Their agents told the reporter that although the starting price is 1 yuan, for relatively high-quality bank equity, after multiple rounds of bidding, the final bidding price can basically return to the actual value of the equity. In addition, bidders must first freeze a deposit of 10000 yuan. According to platform rules, if the bid is not won after the bidding is over, the deposit will be automatically unfrozen. But if the bid is won, the deposit will be automatically transferred to the auctioneer's account. Therefore, participants cannot obtain tens of thousands of shares at a cost of 1 yuan.
In addition, some auction companies require at least two people to sign up and bid in order for the bidding results to be established. Therefore, based on a price increase of 2000 yuan, the cost of acquiring equity is not low.
The reporter found that, in addition to some rural commercial banks experiencing equity cooling, some urban commercial banks are also facing similar difficulties. Recently, a 18.65 million share stake in Hubei Bank was ultimately sold out after 1268 rounds of onlookers due to no one bidding. The starting price and evaluation price of this auction are both 71.9951 million yuan, equivalent to an auction price of approximately 3.86 yuan per share.
In addition, since the beginning of this year, Huishang Bank has also sold multiple equity shares at a discount on auction platforms, and some equity shares have gone through the stages of first auction, second auction, and sale, and no one has signed up to bid. The recent valuation of 20 million shares in the bank was 115 million yuan, which attracted nearly 1400 onlookers, but ultimately ended in a failed auction.
Uneven heating and cooling
According to the statistics of bank stock auctions in the past month, it was found that the proportion of equity in unsold banks far exceeded the proportion of transactions. Even if some bank stocks are sold at a discount after being auctioned off, it is still difficult to generate too much attraction for investors. Industry insiders believe that the frequent auctions by small and medium-sized banks are mainly due to issues with equity prices, as well as investor expectations for the bank's profits.
At the same time, the reporter also found that in the overall poor auction situation of small and medium-sized bank stocks, some bank equity is more popular.
For example, the evaluation price of Shaanxi Shenmu Rural Commercial Bank's shares was 299000 yuan, and 5 people signed up. After 75 bids, the transaction was finally completed for 374000 yuan. In addition, the 516381 shares and profits of Henan Zhongmou Rural Commercial Bank were initially auctioned for 580000 yuan, and after 61 rounds of bidding, they were ultimately hammered for 874000 yuan.
Industry insiders believe that the polarization phenomenon in the equity market transactions of some small and medium-sized banks reflects the beginning of activity in the domestic equity trading market. With the steady recovery of the economy and the improvement of asset quality in some small and medium-sized banks, investors are optimistic about future investment opportunities, and good financial assets are also being sought after.
Some industry analysts also argue that the auction of equity in small and medium-sized banks is difficult. On the one hand, due to the limited liquidity of domestic stocks, they are relatively unpopular with capital in the market; On the other hand, the prices of some bank equity auctions do not have an advantage compared to the prices in the secondary market. In addition, some experienced potential buyers will also wait for the second auction price to be lowered before waiting for an opportunity to sell.
In addition, according to Zhou Maohua, a macro researcher at the Financial Market Department of Everbright Bank, investors are more concerned about the operating and development prospects of some small and medium-sized banks, whether there are duplicate pledges of equity, and the liquidity of the equity market, in order to price them reasonably. As long as information disclosure is sufficient and pricing is reasonable, with the continuous improvement of internal governance, improvement of operational and risk control capabilities, and improvement of macroeconomic conditions, the situation of equity auctions of small and medium-sized banks may decrease.
