What is the relationship between Shengjing Bank and Evergrande?

Evergrande Group is the largest shareholder of Shengjing Bank, and the chairman of Evergrande Group and Shengjing Bank are both the same person, namely Qiu Huofa. Shengjing Bank, namely Shengjing Bank Co., Ltd., was established in September 1997 and its headquarters is located in Shenhe District, Shenyang.

Qiu Huofa, Executive Vice President of China Evergrande Group and Chairman of Evergrande Financial Group, from June 2065438 to present. Qiu Huofa served as the vice chairman of Shengjing Bank Co., Ltd. on May 3, 20 18 and the chairman of Shengjing Bank Co., Ltd. on May 9, 20 19.

Shengjing Bank Co., Ltd. is mainly engaged in corporate and retail deposits, loans, advances, payment and settlement and capital business. Shengjing Bank Co., Ltd. operates through four business departments: banking department, retail banking department, treasury department and other departments.

Shengjing Bank Co., Ltd. was listed on the Hong Kong Stock Exchange on February 29th, 20 14. The sponsor of this listing is China Merchants Securities (Hongkong), formerly known as Shenyang Commercial Bank, which was renamed Shengjing Bank with the approval of the former China Banking Regulatory Commission in February 2007. _ ⒕┮┮┮┮┮┮┮┮┮┮┮┮┮┮┮┮┮┮┮┮┮┮┮┮┮┮┮┮9

Where is Shengjing Bank? _

Shengjing Bank, headquartered in Shenyang, Liaoning Province, formerly known as Shenyang Commercial Bank, was renamed Shengjing Bank with the approval of China Banking Regulatory Commission in February 2007. It is a powerful headquarters bank in Northeast China. It was successfully listed on the main board of Hong Kong Stock Exchange on February 29th, 2004. _

However, on the evening of June 20, 2009, Shengjing Bank will issue domestic shares and H shares, totaling 3 billion shares. It is estimated that the raised funds will be/kloc-0.8 billion yuan. As one of the major shareholders of Shengjing Bank, Evergrande has promised to subscribe for 2.2 billion domestic shares with a lock-up period of not less than five years. The subscription price is 6 yuan/share, accounting for about 25.0 1% of the enlarged issued share capital. Based on this calculation, Evergrande will spend 654.38+03.2 billion yuan to subscribe for 2.2 billion domestic shares of Shengjing Bank. _

Nowadays, Evergrande has encountered unprecedented difficulties due to its own debts, which has a great negative impact on Shengjing Bank. Therefore, introducing the transferee of state-owned enterprises as a major shareholder will help stabilize the operation of Shengjing Bank, and at the same time help the company to maintain and increase its value and preserve the equity of Shengjing Bank 14.57%. Shengjing Bank, on the other hand, requires that all the proceeds from the sale be used to repay the related debts of Evergrande Group to Shengjing Bank. _

Generally speaking, the wholly-owned subsidiary of Evergrande Group is the major shareholder of Shengjing Bank. Due to the financial problems of Evergrande, it is necessary to sell the equity of Shengjing Bank. At present, the state-owned enterprise Shenyang Shengjing Financial Holding Investment Group Co., Ltd. has become its major shareholder, which may stabilize its share price.