浙商資產研究(jiu)院(yuan)《不良資產行業周報》(第255期)
發布(bu)時間: 2023年05月22日 16:25
本期要點:
一、政策動態
(一)財政部或將(jiang)不(bu)直接持股全(quan)國性AMC股權
二、行業資訊
(一(yi))全國首(shou)例A+H股退市上(shang)市公司完成破產重(zhong)整
(二)浙商銀(yin)行13.47億股股權(quan)已司(si)拍(pai)易主
(三)首家(jia)農商行個貸資(zi)產包轉讓業務落(luo)地實施
來源(yuan):浙(zhe)商資(zi)產研究院 陶夢婷
一、政策動態
(一)據(ju)外媒報道,監(jian)管(guan)層據(ju)悉(xi)正考慮將(jiang)全國(guo)(guo)性不良資產管(guan)理(li)公(gong)司(AMC)的國(guo)(guo)有股權劃轉(zhuan)(zhuan)至中(zhong)(zhong)(zhong)(zhong)國(guo)(guo)主權財富基(ji)金中(zhong)(zhong)(zhong)(zhong)投(tou)公(gong)司旗下的子公(gong)司,以此(ci)推進今年公(gong)布的國(guo)(guo)務院機構改革方(fang)(fang)案。根據(ju)目前的方(fang)(fang)案,財政(zheng)部持有的中(zhong)(zhong)(zhong)(zhong)國(guo)(guo)信達、中(zhong)(zhong)(zhong)(zhong)國(guo)(guo)長城(cheng)和中(zhong)(zhong)(zhong)(zhong)國(guo)(guo)東方(fang)(fang)三(san)家(jia)資產管(guan)理(li)公(gong)司的股權將(jiang)劃轉(zhuan)(zhuan)至中(zhong)(zhong)(zhong)(zhong)央匯(hui)金公(gong)司,并由中(zhong)(zhong)(zhong)(zhong)投(tou)公(gong)司旗下的控股平臺根據(ju)國(guo)(guo)務院授權統(tong)一履行(xing)出資人(ren)職責。
評(ping)論(lun):近期金(jin)(jin)(jin)(jin)融(rong)領域的(de)機(ji)構改革頻(pin)出,四家全國(guo)(guo)性AMC的(de)改革方案(an)(an)早在數年(nian)前已有(you)風(feng)聲,中(zhong)國(guo)(guo)華融(rong)資產已于2022年(nian)完(wan)成了股(gu)(gu)(gu)(gu)(gu)權(quan)(quan)(quan)劃(hua)轉,由財政(zheng)部將(jiang)股(gu)(gu)(gu)(gu)(gu)權(quan)(quan)(quan)劃(hua)轉至中(zhong)信集團,其余(yu)三(san)家全國(guo)(guo)性AMC股(gu)(gu)(gu)(gu)(gu)權(quan)(quan)(quan)變更(geng)方案(an)(an)尚未(wei)公布(bu)。全國(guo)(guo)性AMC股(gu)(gu)(gu)(gu)(gu)權(quan)(quan)(quan)變更(geng)預(yu)示著(zhu),監管(guan)層有(you)意將(jiang)政(zheng)府部門的(de)監管(guan)角(jiao)色(se)和股(gu)(gu)(gu)(gu)(gu)東(dong)角(jiao)色(se)分(fen)(fen)離,厘清金(jin)(jin)(jin)(jin)融(rong)監管(guan)部門、履行(xing)國(guo)(guo)有(you)金(jin)(jin)(jin)(jin)融(rong)資本出資人(ren)職責(ze)的(de)機(ji)構和國(guo)(guo)有(you)金(jin)(jin)(jin)(jin)融(rong)機(ji)構之(zhi)間(jian)的(de)權(quan)(quan)(quan)責(ze)關系,推進管(guan)辦分(fen)(fen)離、政(zheng)企分(fen)(fen)開,推進完(wan)善金(jin)(jin)(jin)(jin)融(rong)監管(guan)體系的(de)完(wan)備性。
二、行業資訊
(一)5月9日,云南(nan)省昆明市中(zhong)級(ji)人民法院裁定終(zhong)結通(tong)用(yong)技術集團昆明機床(chuang)股(gu)份有限公(gong)司(si)重(zhong)整(zheng)程序,標志著全國首(shou)家A+H退市公(gong)司(si)重(zhong)整(zheng)順利(li)完成。通(tong)過本次重(zhong)整(zheng),昆明機床(chuang)順利(li)引入(ru)投資人中(zhong)國通(tong)用(yong)技術(集團)控股(gu)有限責任公(gong)司(si)。
評論:昆(kun)明機床(chuang)是(shi)全(quan)國(guo)首例A+H退(tui)市公司破產重(zhong)(zhong)整(zheng)案例,在充分考慮內地、香(xiang)港兩地資本(ben)(ben)市場差(cha)異,結合重(zhong)(zhong)整(zheng)投資人(ren)未來資本(ben)(ben)運作規劃和需求后,創造性地對已(yi)退(tui)市H股進(jin)行注銷,并對H股股東提(ti)供(gong)現金補(bu)償。本(ben)(ben)項(xiang)目為昆(kun)明機床(chuang)引入重(zhong)(zhong)整(zheng)投資人(ren)通(tong)用技術集(ji)(ji)團,有效化解企業(ye)債(zhai)務負(fu)擔、解決歷史遺(yi)留問題,充分維護債(zhai)權(quan)人(ren)利益。本(ben)(ben)項(xiang)目是(shi)典型的產業(ye)內部重(zhong)(zhong)整(zheng)項(xiang)目,通(tong)用技術集(ji)(ji)團通(tong)過此次破產重(zhong)(zhong)整(zheng),拓展了(le)自身產業(ye)布局和產業(ye)鏈。從(cong)重(zhong)(zhong)整(zheng)結果來看,實現了(le)昆(kun)明機床(chuang)、通(tong)用技術集(ji)(ji)團、原(yuan)債(zhai)權(quan)人(ren)等多(duo)方的共(gong)贏。
(二(er))浙(zhe)商(shang)銀(yin)行股(gu)(gu)(gu)東(dong)所持13.47億股(gu)(gu)(gu)股(gu)(gu)(gu)份(fen)完成(cheng)司法(fa)拍賣5月17日,浙(zhe)商(shang)銀(yin)行(601916.SH)發布公(gong)(gong)告,其股(gu)(gu)(gu)東(dong)旅行者(zhe)汽(qi)車集團有限(xian)(xian)公(gong)(gong)司持有的(de)公(gong)(gong)司13.47億股(gu)(gu)(gu)股(gu)(gu)(gu)份(fen)(占總股(gu)(gu)(gu)本(ben)的(de)6.33%)已完成(cheng)司法(fa)拍賣。上海市第一(yi)中級人民法(fa)院已出具《執行裁定(ding)(ding)書》,裁定(ding)(ding)聯(lian)合競(jing)(jing)買人太(tai)平(ping)人壽保險有限(xian)(xian)公(gong)(gong)司和山(shan)東(dong)省國(guo)際(ji)信托(tuo)股(gu)(gu)(gu)份(fen)有限(xian)(xian)公(gong)(gong)司以30.06億元價格競(jing)(jing)得上述股(gu)(gu)(gu)份(fen),太(tai)平(ping)人壽與山(shan)東(dong)國(guo)信分別持股(gu)(gu)(gu)3.33%和3%,聯(lian)手成(cheng)為浙(zhe)商(shang)銀(yin)行第六大(da)股(gu)(gu)(gu)東(dong)。
評論(lun):浙(zhe)(zhe)(zhe)商銀(yin)行(xing)原股(gu)東旅(lv)行(xing)者(zhe)汽車集團是安邦(bang)(bang)保險集團原實際控(kong)制人(ren)(ren)吳(wu)小暉名下的關(guan)聯公司之一,因此,本次股(gu)權司拍(pai)可視為(wei)“安邦(bang)(bang)系(xi)”資產(chan)處置的重要組成部分。按照披露的股(gu)權拍(pai)賣價(jia)格(ge)計算(suan),太平人(ren)(ren)壽(shou)、山(shan)東國(guo)信獲(huo)得的浙(zhe)(zhe)(zhe)商銀(yin)行(xing)每股(gu)約合2.23元,截至5月(yue)19日,浙(zhe)(zhe)(zhe)商銀(yin)行(xing)報收(shou)2.99元/股(gu),因此,太平人(ren)(ren)壽(shou)和(he)山(shan)東國(guo)信以約75折價(jia)格(ge)將浙(zhe)(zhe)(zhe)商銀(yin)行(xing)股(gu)權收(shou)入(ru)囊中(zhong)。太平人(ren)(ren)壽(shou)作(zuo)為(wei)著名險資和(he)中(zhong)央金(jin)融企業,此次牽(qian)頭投資30余億(yi)元入(ru)股(gu)浙(zhe)(zhe)(zhe)商銀(yin)行(xing),對改善浙(zhe)(zhe)(zhe)商銀(yin)行(xing)治理(li)和(he)后續資本補充起到了積極作(zuo)用,也反(fan)映(ying)了太平人(ren)(ren)壽(shou)與山(shan)東國(guo)信對浙(zhe)(zhe)(zhe)商銀(yin)行(xing)長期(qi)價(jia)值的認可。
(三)自不(bu)良個(ge)貸(dai)轉讓試點擴容(rong)后,江(jiang)蘇(su)江(jiang)南(nan)農村(cun)商業銀行(xing)成為全國首(shou)筆(bi)成功(gong)開展個(ge)人(ren)不(bu)良資(zi)產(chan)批量轉讓業務的農商行(xing)。本(ben)(ben)次(ci)江(jiang)南(nan)農村(cun)商業銀行(xing)轉讓標的為其(qi)持有的360戶419筆(bi)信用卡不(bu)良貸(dai)款,該資(zi)產(chan)包未(wei)償本(ben)(ben)金(jin)金(jin)額總計7168萬元(yuan)(yuan),未(wei)償本(ben)(ben)息總計9814.9萬元(yuan)(yuan)。本(ben)(ben)次(ci)信用卡不(bu)良個(ge)貸(dai)資(zi)產(chan)包轉讓吸引了(le)3家AMC參(can)與(yu)競拍(pai),經過26輪競價,最終由蘇(su)州資(zi)產(chan)管(guan)理公司競拍(pai)獲得。
評論:江(jiang)南(nan)農(nong)村(cun)商業(ye)銀行(xing)資(zi)產包(bao)為個人(ren)不(bu)(bu)(bu)良資(zi)產批量轉讓業(ye)務擴大試點范圍以來,全國(guo)首家(jia)農(nong)商行(xing)成功(gong)競拍的標(biao)的。自2022年(nian)12月批量個人(ren)不(bu)(bu)(bu)良貸(dai)(dai)款轉讓試點二次擴容以來,新(xin)納入試點范圍的農(nong)村(cun)商業(ye)銀行(xing)在開通不(bu)(bu)(bu)良貸(dai)(dai)款轉讓業(ye)務賬戶(hu)的比(bi)例不(bu)(bu)(bu)斷提升,目前已有45家(jia)農(nong)村(cun)金(jin)融機構(gou)在銀登中心開立了賬戶(hu)。國(guo)家(jia)金(jin)融與發展實驗室副(fu)主任(ren)曾剛在一季度(du)銀行(xing)業(ye)報(bao)告中指出,農(nong)商行(xing)通過加大貸(dai)(dai)款核(he)銷力度(du)有效壓降了不(bu)(bu)(bu)良率指標(biao),但(dan)由(you)于前期增長過快(kuai),目前農(nong)商行(xing)不(bu)(bu)(bu)良率仍(reng)處(chu)于高位。由(you)此可以推(tui)斷,預(yu)計(ji)今年(nian)農(nong)商行(xing)不(bu)(bu)(bu)良貸(dai)(dai)款(對公、個貸(dai)(dai)類)將出現大規模轉讓。
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