China Fund News reporter Li Shuchao
Recently, China Post Fund issued an announcement on the change of equity, and the company's original shareholder, China Post Group, transferred all the equity of China Post Fund to China Post Securities. After the completion of the transfer, China Post Securities was newly promoted to the "second leader" of China Post Fund, with a shareholding ratio of 28.61%.
Industry insiders said that the equity change is equivalent to the transfer of the equity of the parent company to the subsidiary, so that China Post Securities has also obtained a public offering license to better layout the wealth management business. With the development of fixed income business, the total scale and operation of China Post Fund have remained stable in recent years, and the fixed income business has gradually become the pillar business of China Post Fund.
China Post Fund Completes Equity Transfer, and China Post Securities Becomes the "Second Leader"
On April 23, China Post Fund announced that after the approval of the China Securities Regulatory Commission, the confirmation of the share transfer letter of the National Small and Medium-sized Enterprises Share Transfer System Co., Ltd., and the "Securities Transfer Registration Confirmation" issued by the Beijing Branch of China Securities Depository and Clearing Co., Ltd., China Post Group, the original shareholder of China Post Fund, transferred its 28.61% equity of China Post Fund to China Post Securities.
As early as May 26 last year, China Post Group, a shareholder of China Post Fund, signed a "Share Transfer and Capital Increase Agreement" with China Post Securities, and China Post Group transferred 87 million shares of China Post Fund, accounting for 28.61%, to China Post Securities. Since the transfer of shares exceeds 5% of the total number of shares of China Post Fund, it is proposed to transfer shares by way of agreement on specific matters.
After the completion of the equity change, China Post Securities became the "second leader" of China Post Fund, with a shareholding ratio of 28.61%. Capital Securities remains the top shareholder with a stake of 46.37%, while Sumitomo Mitsui Banking Corporation is the third shareholder with a stake of 23.68%. In addition, there are 1.34% of other shareholders with outstanding shares.
China Post Fund said that the share transfer will not adversely affect the company's operation and management.
According to public information, China Post Fund was established on May 8, 2006, established for nearly 18 years, the company is mainly engaged in fund raising, fund sales, asset management and other businesses licensed by the China Securities Regulatory Commission.
China Post Securities was established in September 2002 with the approval of the China Securities Regulatory Commission, and has branches in Beijing, Shaanxi, Shenzhen and other places across the country, and a number of provincial branches are under construction. In recent years, the company's various businesses have grown steadily, and its market competitiveness in the fields of serving the capital market and corporate financing has continued to improve.
According to the industrial and commercial registration information, China Post Group is the major shareholder of China Post Securities, with a shareholding ratio of 83.84%. Industry insiders said that the transfer of China Post Fund equity by China Post Group to China Post Securities is equivalent to the transfer of the parent company to a subsidiary, which is conducive to China Post Securities obtaining a public offering license and making further progress in the layout of wealth management business.
Last year, net profit increased by 12.71%, and fixed income business became a growth point in scale
As a company listed on the New Third Board, the 2023 annual report data disclosed by China Post Fund shows that as of the end of 2023, the annual operating income of China Post Fund was 469 million yuan, a year-on-year decrease of 8.66%, and the net profit attributable to shareholders of the listed company was 71.2797 million yuan, an increase of 12.71% year-on-year.
In the whole year of last year, affected by factors such as the decline in fund management fees and the shrinking scale of funds, the overall income of the public fund industry declined, especially for fund managers with a high proportion of active equity fund business.
From the perspective of China Post Fund, the company's public offering management scale has remained relatively stable.
According to data from Tianxiang Investment Advisors, as of the end of the first quarter of 2024, the public offering management scale of China Post Fund was 55.686 billion yuan, ranking 76th among 157 fund managers in the whole market. In the same period last year, the public offering management scale of China Post Fund was 56.9 billion yuan, which is not much different from this year's data.
In terms of product structure, the non-stock scale of China Post Fund was 50.3 billion yuan, of which the scale of equity funds was 14.8 billion yuan, accounting for 26.6%, and the scale of bond funds was 35.4 billion yuan, accounting for 63.6%.
Zhang Zhiming, general manager of China Post Fund, said in an interview with reporters that he would make up for the shortcomings of the fixed income business for China Post Fund, so that the dual business lines of fixed income and equity can develop in parallel. At the same time, the company will further improve its resource allocation capabilities and team investment and research capabilities, and continuously improve its core competitiveness on the basis of strengthening compliance and risk control.
Editor: Xiao Mo
Review: Xu Wen