民生银行重大关联交易公告解读：受让上海松江民生村镇银行10%股份，强化控股地位
要点概览
- 交易概况：中国民生银行于2025年7月23日董事会批准，以4,545万元人民币，自有资金受让上海健特生命科技有限公司（健特生命）持有的上海松江民生村镇银行1,500万股（占比10%）股份。本次交易已获上海金融监管局批复。
- 交易性质：该交易构成关联交易，但未构成重大资产重组，无需股东大会审议。健特生命由史玉柱实际控制，健特生命及其关联企业合计持有民生银行4.97%股份。
- 股份结构变化：交易完成后，民生银行在上海松江民生村镇银行的持股比例将由35%提升至45%，显著增强对该村镇银行的控股能力。
- 价格公允：本次交易价格基于2024年末经审计净资产及评估价格，确定为3.03元/股，定价公允合理，不优于非关联方同类交易条件。
- 监管审批与披露：董事会决议经上海金融监管局批准后实施，且本次信息披露符合法律法规及监管要求。公告特别说明，在董事会审议到监管批准期间，相关内情知情人不存在买卖公司股票情形。
- 历史关联交易补充：此前民生银行曾以200万元受让巨人投资持有的林芝民生村镇银行2.8345%股份。
详细解读
1. 交易背景与目的
为进一步增强对上海松江民生村镇银行的控制力，民生银行与实际控制人史玉柱旗下的健特生命签署股份转让协议，拟以4,545万元自有资金受让其持有的1,500万股股份。本次交易完成后，民生银行在该村镇银行的持股比例将达到45%，有助于提升银行的战略布局和区域市场竞争力。
2. 关联方介绍与合规性说明
健特生命及其关联企业合计持有民生银行4.97%股份，构成关联法人。健特生命由史玉柱实际控制，注册资本2.45亿元，业务涵盖食品、化妆品、投资管理等。民生银行强调本次交易严格遵守《公司法》及相关监管规定，且已履行全部内部审批流程，董事会13票全票同意。
3. 交易标的与定价机制
转让标的是健特生命持有的上海松江民生村镇银行1,500万股（占10%），交易价格为4,545万元，折合每股3.03元。定价依据为截至2024年12月31日的审计净资产和评估价，独立董事认为定价公允、合理、符合商业原则。
4. 股东结构变化及对银行影响
上海松江民生村镇银行注册资本1.5亿元，原本民生银行持股35%。本次收购后，持股提升至45%，大大增强对该村镇银行的话语权和业务整合能力。公司表示，本次交易不会对民生银行的正常经营和财务状况造成不利影响，反而有助于集团协同效应释放和区域业务发展。
5. 审议流程与合规披露
交易已于2025年7月23日获得独立董事、关联交易控制委员会及董事会全票通过。由于需监管审批，在获得批复前暂缓信息披露，公告称知情人未买卖公司股票，保障信息公平。独立董事意见明确交易公允，未损害股东利益。
6. 其他相关关联交易说明
除本次交易外，民生银行还曾于2026年初以200万元收购巨人投资持有的林芝民生村镇银行2.8345%股份，进一步完善村镇银行布局。
对股东及投资者的重要提示
- 潜在影响：本次交易将显著提升民生银行在上海松江民生村镇银行的持股比例，强化其在村镇银行领域的控制力和盈利能力，或对公司未来业绩及估值产生积极影响。
- 合规风险：交易已获监管批准，所有流程合规，未发现损害公司及中小股东利益的情况。
- 短期内无重大风险：公告称不存在其他需特别提醒投资者关注的风险事项。
结论
此次民生银行加码控股上海松江民生村镇银行，有助于增强其区域金融服务能力及盈利基础，属于可能影响公司估值与市场关注度的重大事项，值得投资者重点关注。
免责声明：本文内容仅供投资者参考，不构成任何投资建议。投资有风险，决策需谨慎。请投资者结合自身实际及后续公告动态，审慎决策。
English Version
Minsheng Bank Major Related-Party Transaction: Acquiring 10% Stake in Shanghai Songjiang Minsheng Village Bank
Key Highlights
- Transaction Overview: On July 23, 2025, Minsheng Bank’s board approved the use of RMB 45.45 million in self-owned funds to acquire 15 million shares (10% stake) of Shanghai Songjiang Minsheng Village Bank from Shanghai Giant Life Science Technology Co., Ltd. (“Giant Life”). The transaction has received regulatory approval from the Shanghai Financial Authority.
- Nature of Transaction: This constitutes a related-party transaction, but does not qualify as a major asset restructuring and does not require a shareholder meeting. Giant Life, controlled by Shi Yuzhu, and related parties hold a combined 4.97% stake in Minsheng Bank.
- Shareholding Structure Change: Upon completion, Minsheng Bank’s stake in Shanghai Songjiang Minsheng Village Bank will increase from 35% to 45%, significantly strengthening its controlling influence.
- Fair Pricing: The transaction price is based on the audited net assets and valuation as of December 31, 2024, set at RMB 3.03 per share, deemed fair and reasonable.
- Regulatory Approval & Disclosure: The board’s resolution was implemented only after receiving regulatory approval; information disclosure complies with legal requirements. Insiders did not trade company shares during the approval process.
- Historical Related Transactions: Minsheng Bank previously acquired a 2.8345% stake in Linzhi Minsheng Village Bank from Giant Investment for RMB 2 million.
Detailed Analysis
1. Transaction Background and Purpose
To further strengthen control over Shanghai Songjiang Minsheng Village Bank, Minsheng Bank signed a share transfer agreement with Giant Life (controlled by Shi Yuzhu), acquiring 15 million shares for RMB 45.45 million in cash. Post-transaction, Minsheng Bank’s stake rises to 45%, improving its strategic position and regional market competitiveness.
2. Related Party Introduction & Compliance
Giant Life and its affiliates hold a combined 4.97% of Minsheng Bank, qualifying as a related party. Giant Life, controlled by Shi Yuzhu, has a registered capital of RMB 245.4 million and operates in food, cosmetics, and investment management. The Bank confirms full compliance with company law and internal approval processes; the board approved unanimously (13-0).
3. Transaction Target & Pricing
The acquisition covers 15 million shares (10%) of Shanghai Songjiang Minsheng Village Bank at RMB 45.45 million (RMB 3.03/share), priced based on audited net assets and valuation as of end-2024. Independent directors agree the pricing is fair and in line with market principles.
4. Shareholding Structure & Impact
With a registered capital of RMB 150 million, Minsheng Bank originally held 35% of Shanghai Songjiang Minsheng Village Bank. This deal raises its stake to 45%, significantly boosting its influence and integration capacity. The Bank notes no adverse impact on operations or financials; rather, it expects improved group synergy and regional expansion.
5. Approval Process & Information Disclosure
The transaction was reviewed and unanimously approved by independent directors, the related-party transaction control committee, and the board on July 23, 2025. Due to regulatory requirements, disclosure was delayed until approval was granted. The announcement assures that no insider trading occurred during the interim. Independent directors stated the deal is fair and does not harm shareholder interests.
6. Other Related Transactions
In addition, Minsheng Bank acquired a 2.8345% stake in Linzhi Minsheng Village Bank from Giant Investment for RMB 2 million in early 2026, further expanding its village bank network.
Important Reminders for Shareholders and Investors
- Potential Impact: This transaction substantially increases Minsheng Bank’s stake in Shanghai Songjiang Minsheng Village Bank, potentially enhancing profitability and valuation.
- Compliance Risk: The deal is fully compliant and approved by regulators, with no harm to minority shareholders.
- No Major Short-Term Risks: The announcement notes no other significant risk factors requiring special investor attention.
Conclusion
Minsheng Bank’s increased control over Shanghai Songjiang Minsheng Village Bank strengthens its regional presence and profitability, making this a noteworthy event that could impact the company’s valuation and attract investor attention.
Disclaimer: This article is for reference only and does not constitute investment advice. Investing carries risks; please make decisions carefully and monitor subsequent announcements.
