2020-10-18

Minsheng Bank’s new board of directors unveiled Gao Yingxin was elected chairman

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getInterUrl?uicrIvZQ=20d0a8344eee3864c5c0f3567ddc59f4 - Minsheng Bank's new board of directors unveiled Gao Yingxin was elected chairman

Minsheng Bank The re-election of the board of directors is finally settled. On October 16, the Minsheng Bank announced that the eighth board of directors of Minsheng Bank had been elected.

The new board of directors of Minsheng Bank has elected 17 directors. In addition to the two executive directors Gao Yingxin and Zheng Wanchun, there are also nine shareholder directors:Zhang Hongwei, Lu Zhiqiang, Liu Yonghao, Shi Yuzhu, Wu Di, Song Chunfeng , Weng Zhenjie, Yang Xiaoling, Zhao Peng, and six independent directors:Liu Jipeng, Li Hancheng, Xie Zhichun, Peng Xuefeng, Liu Ningyu, Qu Xinjiu.

According to Minsheng Bank’s announcement at the end of last year when the board of directors was changed, the eighth session of the board of directors will be composed of 18 directors, and one is currently lacking. Yuan Guijun, who recently became the executive vice president of Minsheng Bank, was nominated as an executive director candidate on October 16, and will vote on the election at the next general meeting of shareholders. Yuan Guijun previously worked in China Construction Bank for a long time. He served as the top leader of the Liaoning Branch and Beijing Branch of China Construction Bank. In July 2020, he was transferred to Minsheng Bank as the executive vice president.

At the first meeting of the new board of directors, Gao Yingxin was elected chairman, and Zhang Hongwei, Lu Zhiqiang, Liu Yonghao, and Zheng Wanchun were elected As the vice chairman. Zheng Wanchun was also re-appointed as President of Minsheng Bank.

It is worth mentioning that the management of Minsheng Bank has strengthened its voice in the new board of directors. The addition of Zheng Wanchun as vice chairman and Yuan Guijun as executive director has changed the previous pattern of only two executive directors serving as executive directors on the board of directors.

Gao Yingxin is the former president of Bank of China Hong Kong. In May 2020, he became the party secretary of Minsheng Bank. He immediately took over the Hong Qi served as Chairman of the 7th Board of Directors of Minsheng Bank. Since then, how to properly complete the board of directors has become his first task.

Compared with the previous board of directors, all the”old faces” of Minsheng Bank’s shareholder directors remain in office, and the two new directors Yang Xiaoling and Zhao Peng representing Dazhong Insurance have been added. Yang Xiaoling is currently the deputy general manager and chief operating officer of Dajia Insurance Group, and Zhao Peng is the assistant general manager and secretary of the board of Dajia Insurance.

Dajia Insurance undertook Anbang’s assets including Minsheng Bank’s equity. At the end of the second quarter of this year, it held 16.79%of Minsheng Bank’s A shares and 1.05%of H shares.

Among other shareholder directors of Minsheng Bank, Zhang Hongwei, Lu Zhiqiang, Liu Yonghao and Shi Yuzhu represent Oriental Group, Fan Hai Group, New Hope Group and Giant Investment, Wu Di on behalf of Fuxin Group, Song Chunfeng on behalf of Shipowners Mutual Insurance Association, Chongqing International Trust Chairman Weng Zhenjie on behalf of Tongfang Guoxin.

Comprehensive data disclosed in the Minsheng Bank’s interim report this year and the announcement in the second half of the year:

——Orient Group , Oriental Group shares and China Life Insurance, a person acting in concert, hold 7.91%of Minsheng Bank in total

——Fanhai Group (China Fanhai, Fanhai International, Longheng Capital and Oceanwide Equity) hold 6.94%of Minsheng Bank (4.61%A shares, 2.31%H shares)

—— Giants (Shanghai Jiante, Alpha) hold 4.78%of the shares (3.15%A shares, 1.63%H shares)

——Tongfang Guoxin and its subsidiary Chongqing International Trust hold 4.58%of the shares

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——New Hope Department (New Hope Group, New Hope Liuhe) holds 4.41%equity (in Report data)

——China Shipowners Mutual Insurance Association holds 3.02%equity of Minsheng Bank

——Fuxin Group holds 1.77%equity of Minsheng Bank

As of the end of June this year, Minsheng Bank’s assets reached 7142.6 billion yuan, an increase of 6.9%from the end of the previous year. In the first half of this year, revenue was 98.1 billion yuan, a year-on-year increase of 11.61%, and net profit before provision was 76.1 billion yuan, a year-on-year increase of 12.14%. The non-performing loan ratio was 1.69%.