https://www.scmp.com/rss/182644/feed China Everbright Group is a state-run financial conglomerate. Its operations include China Everbright Ltd, which listed in Hong Kong in 1997 with the stock code 165, and China Everbright Bank. Another unit, brokerage China Everbright Securities, was penalised in August 2013 after a trading glitch caused a spike of more than 5 per cent in China’s stock indexes on August 16. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Xinyi Wu Xinyi Wu Several major Chinese banks have clawed back staff bonuses or cut salaries amid a sluggish economic recovery and Beijing’s ongoing scrutiny of the financial sector. In their annual reports, an increasing number of lenders, ranging from state-owned institutions to commercial banks, are disclosing the amount of performance-based compensation reclaimed from their employees last year. State-owned Bank of China recovered 47.18 million yuan (US$6.9 million) from 4,630 individuals in 2025, according to... https://www.scmp.com/economy/china-economy/article/3349497/more-chinese-banks-claw-back-bonuses-cut-salaries-despite-mixed-profit-recovery?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3349497/more-chinese-banks-claw-back-bonuses-cut-salaries-despite-mixed-profit-recovery?utm_source=rss_feed Thu, 09 Apr 2026 07:00:43 +0000 Xinyi Wu Xinyi Wu China is set to include 12 more commercial banks under the umbrella of its central bank-backed digital currency, the latest move by Beijing to scale up adoption of the digital yuan, also known as the e-CNY, as it transitions from a cash alternative to an interest-bearing deposit instrument. The expansion comes after Beijing pledged to “steadily develop the digital yuan” in its latest five-year plan, the country’s blueprint document for socio-economic development. A draft Finance Law published on... https://www.scmp.com/economy/china-economy/article/3347351/china-adds-12-banks-digital-yuan-system-expanding-e-cnys-economic-presence?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3347351/china-adds-12-banks-digital-yuan-system-expanding-e-cnys-economic-presence?utm_source=rss_feed Fri, 20 Mar 2026 15:00:14 +0000 Themis Qi Themis Qi Chinese financial institutions raised over US$10 billion last year to fund their overseas expansion and boost the yuan’s internationalisation in line with Beijing’s go-global push, with the trend continuing this year. GF Securities is raising HK$6.12 billion (US$780 million) from the placement of over HK$3.97 billion worth of new shares and HK$2.15 billion from zero-coupon convertible bonds. The Guangzhou-headquartered brokerage planned to use the proceeds to inject capital into its offshore... https://www.scmp.com/business/banking-finance/article/3339192/chinese-financial-firms-press-debt-issuance-fund-overseas-expansion?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3339192/chinese-financial-firms-press-debt-issuance-fund-overseas-expansion?utm_source=rss_feed Thu, 08 Jan 2026 23:30:07 +0000 Leading Chinese banks have injected billions of yuan into housing projects with the aim of financing the completion of pre-sold but yet-to-be-completed homes across the country, according to figures released by the lenders. The initiative, which falls under the so-called whitelist mechanism, is part of Beijing’s efforts to revive a weakening property sector that accounts for a quarter of China’s gross domestic product. China Construction Bank (CCB), one of the largest state-owned commercial... https://www.scmp.com/business/china-business/article/3251852/ccb-boc-and-china-everbright-among-chinese-lenders-have-injected-billions-whitelist-housing-projects?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3251852/ccb-boc-and-china-everbright-among-chinese-lenders-have-injected-billions-whitelist-housing-projects?utm_source=rss_feed Tue, 13 Feb 2024 11:30:24 +0000 The Industrial and Commercial Bank of China (ICBC), the country’s largest state-controlled bank and the world’s third-largest lender by market capitalisation, has announced a key change at the top, the latest in a slew of leadership reshuffles in the country’s banking sector in the past month. Chen Siqing, the lender’s chairman and executive director, has tendered his resignation to the board of directors, with immediate effect, according to a company statement on February 1. The statement said... https://www.scmp.com/business/banking-finance/article/3250682/icbc-chairman-chen-siqing-resigns-chinese-banking-industry-undergoes-leadership-reshuffle?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3250682/icbc-chairman-chen-siqing-resigns-chinese-banking-industry-undergoes-leadership-reshuffle?utm_source=rss_feed Fri, 02 Feb 2024 06:00:23 +0000 The shares of Chinese securities firms have slumped in Hong Kong ahead of their earnings announcements for 2022 amid expectations of record losses following a slump in their incomes due to market volatility last year, as well as impairment losses generated by debt investments and loans to sectors such as property. The shares of Hong Kong-listed Bocom International Holdings have slumped by 23.8 per cent so far in March, after declining 3.1 per cent on Monday, according to Bloomberg data. Haitong... https://www.scmp.com/business/article/3214980/shares-bocom-international-haitong-slump-after-chinese-securities-firms-warn-losses-2022-forecasts?utm_source=rss_feed https://www.scmp.com/business/article/3214980/shares-bocom-international-haitong-slump-after-chinese-securities-firms-warn-losses-2022-forecasts?utm_source=rss_feed Mon, 27 Mar 2023 09:00:55 +0000 The former boss of the financial services arm of China Everbright Group, a state-owned conglomerate, has been placed under investigation by the Central Commission for Discipline Inspection (CCDI), the country’s top anti-corruption watchdog. Chen Shuang, who resigned as CEO of China Everbright Limited in 2019, is being investigated for “suspected violations of the law”, the CCDI announced in a one-line statement on Tuesday. The CCDI, the highest internal control body of China’s Communist Party,... https://www.scmp.com/business/companies/article/3186677/former-ceo-china-everbrights-financial-arm-under-investigation?utm_source=rss_feed https://www.scmp.com/business/companies/article/3186677/former-ceo-china-everbrights-financial-arm-under-investigation?utm_source=rss_feed Tue, 26 Jul 2022 13:29:13 +0000 China’s banking regulator imposed multimillion-yuan fines on two banks for violating rules on wealth management products, the first such penalty since they came into effect in January. The fines were imposed on Bank of China and China Everbright Bank and their wealth management units, both of which were established by their parent companies in 2019. The rules seek to stamp out shadow banking risks by imposing stringent requirements such as leverage limits and banning malpractices like providing... https://www.scmp.com/business/banking-finance/article/3180386/bank-china-everbright-bank-fined-us22-million-flouting?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3180386/bank-china-everbright-bank-fined-us22-million-flouting?utm_source=rss_feed Sun, 05 Jun 2022 02:00:21 +0000 Everbright Securities shook up its senior management amid media reports of the brokerage being under government investigation for extravagance, a move that sent shares of the brokerages plunging on the Hong Kong and Shanghai exchanges. The Shanghai-based broker’s chairman Yan Jun resigned, Everbright said in a stock exchange statement, citing unspecified “work adjustments.” Liu Jiping stepped down as chairman of the broker’s supervisory committee on the same day, Everbright said without... https://www.scmp.com/business/banking-finance/article/3174851/everbright-securities-shakes-its-senior-ranks-failing?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3174851/everbright-securities-shakes-its-senior-ranks-failing?utm_source=rss_feed Wed, 20 Apr 2022 04:15:33 +0000 China’s property foreclosures soared this year, as deteriorating job prospects and shrinking income amid the worst economic contraction in decades combined to weigh down on borrowers’ repayment ability, putting an end to the country’s debt-fuelled real estate rally. As many as 1.25 million homes were foreclosed in China as of September 16, according to the Taobao e-commerce platform operated by this newspaper’s owner Alibaba Group Holding, compared to 300,000 in 2019 and 180,000 foreclosures put... https://www.scmp.com/business/china-business/article/3101807/chinas-home-foreclosures-soar-nations-debt-fuelled-property?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3101807/chinas-home-foreclosures-soar-nations-debt-fuelled-property?utm_source=rss_feed Wed, 16 Sep 2020 11:00:11 +0000 Bad debt at Chinese banks climbed in the first quarter after the coronavirus outbreak brought the world’s second-largest economy to a standstill. The non-performing loan ratio rose to 2.04 per cent at the end of March, up 0.06 percentage point from December, the China Banking and Insurance Regulatory Commission (CBIRC) said at a press briefing in Beijing on Wednesday. That comes even as lenders agreed to delay 880 billion yuan (US$124 billion) in repayments on loans to smaller businesses and... https://www.scmp.com/business/companies/article/3081002/coronavirus-impact-chinas-first-quarter-bad-loans-climb?utm_source=rss_feed https://www.scmp.com/business/companies/article/3081002/coronavirus-impact-chinas-first-quarter-bad-loans-climb?utm_source=rss_feed Wed, 22 Apr 2020 04:47:06 +0000 The financial services arm of China Everbright Group, one of the first state-owned conglomerates established in Hong Kong in the early 1980s, is planning to ­enlarge its global portfolio and transform itself into an international private equity and asset management firm. “This year, we will continue to increase the percentage of foreign asset allocation in order to maintain steady growth. The strategy includes increasing investments through our funds and boosting our US dollar denominated... https://www.scmp.com/business/companies/article/3005038/prepare-looming-buyers-market-global-assets-says-chinese-firm?utm_source=rss_feed https://www.scmp.com/business/companies/article/3005038/prepare-looming-buyers-market-global-assets-says-chinese-firm?utm_source=rss_feed Mon, 08 Apr 2019 01:00:13 +0000 China Evergrande Group, the country’s third-largest property developer by sales, is taking steps to diversify into vehicle sales, energy, real estate and logistics, as Beijing steps up efforts to dampen the runaway property market. Over the weekend, China Evergrande said it will spend 14.49 billion yuan (US$2.1 billion) to buy 40.96 per cent of Guanghui Group. That will make it the second-largest shareholder of the energy-to-vehicles conglomerate. “In order to promote better corporate... https://www.scmp.com/business/companies/article/2165451/china-evergrande-diversifies-vehicle-energy-businesses-beijing?utm_source=rss_feed https://www.scmp.com/business/companies/article/2165451/china-evergrande-diversifies-vehicle-energy-businesses-beijing?utm_source=rss_feed Mon, 24 Sep 2018 03:36:58 +0000 Ant Financial, an affiliate of Chinese e-commerce giant Alibaba Group Holding, said on Wednesday it had signed a strategic cooperation agreement with China Everbright Bank and its financial technology affiliate Everbright Technology, to help the state bank with its digital transformation. Under the agreement, Ant Financial will share its financial technology capabilities and know-how with China Everbright to help the bank develop cloud computing, internet finance, mobile payment, artificial... https://www.scmp.com/business/banking-finance/article/2147454/ant-financial-help-state-lender-china-everbright-bank?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/2147454/ant-financial-help-state-lender-china-everbright-bank?utm_source=rss_feed Wed, 23 May 2018 11:00:00 +0000 China Everbright International, one of the nation’s largest developers of waste-to-energy and water treatment projects, said it plans to spin off its Greentech business and raise between HK$2.9 billion and HK$3.3 billion (US$424 million) through a stock sale on the Hong Kong Stock Exchange. Everbright plans to offer 560 million new shares at between HK$5.18 and HK$5.90 each, according to a filing to the stock exchange, valuing the company at up to HK$11.8 billion. That would make Everbright the... https://www.scmp.com/business/investor-relations/ipo-quote-profile/article/2087324/everbright-spin-greentech-unit-hong?utm_source=rss_feed https://www.scmp.com/business/investor-relations/ipo-quote-profile/article/2087324/everbright-spin-greentech-unit-hong?utm_source=rss_feed Thu, 13 Apr 2017 02:26:30 +0000 The capitalisation gap between China's biggest lenders widened during the first half of the year, adding to worries that some will fail to meet a 2018 deadline. Meanwhile, some mid-sized lenders seemed to ignore the capital-building exercise, designed to hold banks together in a crisis, as they grew risky off-book lending businesses. Recommendations from the Basel Committee on "common equity tier-one" capital have gradually grown in significance for Chinese lenders as more have been included on... https://www.scmp.com/business/banking-finance/article/1855775/capitalisation-gap-forming-between-chinas-biggest-banks?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/1855775/capitalisation-gap-forming-between-chinas-biggest-banks?utm_source=rss_feed Sun, 06 Sep 2015 12:45:15 +0000 China Everbright Group's shareholding restructuring announced late on Monday, and a planned flotation of assets not already listed, is aimed at improving its transparency, governance and efficiency as part of Beijing's push to deepen state-owned enterprise reform. The Ministry of Finance will have a 44.33 per cent stake in the restructured China Everbright Group and Central Huijin Investment, an investment vehicle owned by sovereign fund manager China Investment Corp, will have 55.67 per cent,... https://www.scmp.com/article/1637199/china-everbright-group-restructure-joint-stock-company?utm_source=rss_feed https://www.scmp.com/article/1637199/china-everbright-group-restructure-joint-stock-company?utm_source=rss_feed Tue, 11 Nov 2014 01:30:45 +0000 For the second time in three months, JPMorgan Chase has ceased working on a major Chinese initial public offering amid a US investigation into the Wall Street giant’s hiring practices. The bank walked away from the proposed US$1 billion IPO of Tianhe Chemicals, based in Jinzhou, Liaoning province, after managers raised concerns over the employment of Joyce Wei, the daughter of Tianhe chairman Wei Qi, according to two sources with direct knowledge of the matter. Wei worked in the bank’s corporate... https://www.scmp.com/business/banking-finance/article/1410175/jpmorgan-stops-work-chinese-firms-us1-billion-ipo-amid?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/1410175/jpmorgan-stops-work-chinese-firms-us1-billion-ipo-amid?utm_source=rss_feed Tue, 21 Jan 2014 03:31:14 +0000 Five new listings made their debuts on the Hong Kong stock exchange yesterday, with China Everbright Bank, the largest flotation of the year, performing the worst. After falling as much as 5 per cent below their offer price of HK$3.98, shares in China Everbright ended the day down 2.8 per cent at HK$3.87, in stark contrast to the best-performing debutante, architectural service provider CCheng, which was listed on the Growth Enterprise Market and saw its shares surge 28.9 per cent from their... https://www.scmp.com/business/money/markets-investing/article/1387146/china-everbrights-not-so-bright-trading-debut?utm_source=rss_feed https://www.scmp.com/business/money/markets-investing/article/1387146/china-everbrights-not-so-bright-trading-debut?utm_source=rss_feed Fri, 20 Dec 2013 17:47:32 +0000 China Everbright Bank, a Beijing-based lender making its third tilt at a Hong Kong flotation, says it will be able to meet more stringent mainland capital requirements within two years after raising fresh equity capital. The medium-sized lender said it was also considering other fundraising plans, including the issuance of preferred shares, to replenish its capital base. "We expect to meet the official capital requirements ahead of 2018, when all the commercial banks are required to comply with... https://www.scmp.com/business/banking-finance/article/1377032/everbright-can-meet-china-capital-rules?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/1377032/everbright-can-meet-china-capital-rules?utm_source=rss_feed Mon, 09 Dec 2013 19:00:00 +0000 The listing of China Everbright Bank in Hong Kong has a double significance for its chairman, Tang Shuangning. Tang, a former vice-chairman of the China Banking Regulatory Commission, will reach the official retirement age of 60 next year. A successful Hong Kong float should crown a remarkable business and political career for the veteran banker after at least two earlier attempts at listing. The long-planned sale of H shares was originally scheduled to follow Agricultural Bank of China's US$22... https://www.scmp.com/business/banking-finance/article/1370542/hong-kong-listing-milestone-everbright-bank-chairman?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/1370542/hong-kong-listing-milestone-everbright-bank-chairman?utm_source=rss_feed Sun, 01 Dec 2013 21:19:07 +0000 JPMorgan Chase has pulled out of a syndicate of banks working on China Everbright Bank's US$2 billion share sale in Hong Kong, two people familiar with the matter said. The United States bank's abrupt withdrawal from the syndicate is a rare event. The Beijing-based lender is expected to decide today whether to proceed with the bookbuilding process to complete its long-awaited H-share listing this year. The US authorities are looking into allegations that JPMorgan hired the offspring of Communist... https://www.scmp.com/business/banking-finance/article/1360740/jpmorgan-pulls-out-china-everbright-banks-hong-kong-share?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/1360740/jpmorgan-pulls-out-china-everbright-banks-hong-kong-share?utm_source=rss_feed Tue, 19 Nov 2013 18:55:25 +0000 China Everbright Bank, which received the go-ahead for a listing from the Hong Kong stock exchange late last month, held a meeting with its syndicate bankers in Beijing yesterday, two people familiar with the deal said, prompting speculation of a year-end listing that would raise up to US$4 billion. The medium-sized lender, based in Beijing, is making its third attempt to complete a long-planned H-share sale by issuing 12 billion shares after Huishang Bank, a newly listed city commercial bank... https://www.scmp.com/business/money/markets-investing/article/1355411/everbright-talks-signal-year-end-listing?utm_source=rss_feed https://www.scmp.com/business/money/markets-investing/article/1355411/everbright-talks-signal-year-end-listing?utm_source=rss_feed Wed, 13 Nov 2013 19:15:00 +0000 It's a season of change in Hong Kong. Change what? Quietly changing jobs for some important people. The US government announced last month that it would investigate JP Morgan's Hong Kong hiring practices relating to job offers for children of some important people on the mainland, and as a result, several such "important kids" working for other foreign banks are now seriously considering new jobs. Their response to news of the probe? Stay in Hong Kong but leave foreign banks to join the Hong... https://www.scmp.com/business/companies/article/1310489/chinese-firms-hong-kong-may-be-new-paradises-princelings?utm_source=rss_feed https://www.scmp.com/business/companies/article/1310489/chinese-firms-hong-kong-may-be-new-paradises-princelings?utm_source=rss_feed Sun, 15 Sep 2013 16:00:00 +0000 Banks have no plans to change their policy of hiring so-called princelings or other well-connected people to help grow their business on the mainland or in other emerging markets - despite the shockwaves caused by news that United States regulators are investigating JP Morgan's hirings of the children of the elite in China. The US Department of Justice last month joined the Securities and Exchange Commission in examining whether conflicts of interests may arise for the US investment bank from... https://www.scmp.com/business/banking-finance/article/1310591/banks-will-not-end-connected-hiring?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/1310591/banks-will-not-end-connected-hiring?utm_source=rss_feed Sun, 15 Sep 2013 16:00:00 +0000 JP Morgan Chase was caught in the spotlight yesterday after media reports suggested the bank hired sons and daughters of senior Chinese officials in the hope of winning deals from major state-owned enterprises. The revelation of JP Morgan's hiring of the son of China Everbright Group's chairman and a former railway official's daughter comes at a sensitive time for Sino-US relations. News of the investigation came ahead of state-owned China Everbright Bank's plan late this year to raise several... https://www.scmp.com/news/china/article/1297521/jpmorgan-bribery-probe-over-china-hiring-report?utm_source=rss_feed https://www.scmp.com/news/china/article/1297521/jpmorgan-bribery-probe-over-china-hiring-report?utm_source=rss_feed Sun, 18 Aug 2013 01:30:38 +0000 China Everbright Bank, which is preparing for its third official listing attempt, plans to double the size of its long-planned Hong Kong offering to up to US$4 billion by selling 12 billion shares. This was aimed at covering more stringent capital requirements on the mainland, sources said. The Beijing-based lender has mandated investment banks CICC and Morgan Stanley to take lead roles in arranging the share sale and gauge investor feedback, after it resubmitted its listing application to the... https://www.scmp.com/business/banking-finance/article/1253643/everbright-double-size-hong-kong-share-sale?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/1253643/everbright-double-size-hong-kong-share-sale?utm_source=rss_feed Tue, 04 Jun 2013 16:00:00 +0000 Mainland banks are reviving their listing plans to raise money in Hong Kong this year as Beijing continues to keep an indirect hold on onshore initial public offerings. Banks face growing problems raising money on the mainland, partly because the securities regulator has held off on domestic listing approvals over the past few months. But market watchers say that even in Hong Kong it will not be easy for the capital-hungry lenders to convince investors to buy their shares, given they are not... https://www.scmp.com/business/banking-finance/article/1222388/cash-strapped-banks-turn-hong-kong?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/1222388/cash-strapped-banks-turn-hong-kong?utm_source=rss_feed Wed, 24 Apr 2013 16:00:00 +0000 Hong Kong's dismal listings market has shown signs of a nascent recovery with some municipal-level mainland lenders and brokerage houses signalling they will retry offerings amid improving sentiment. Listing candidates, including China Galaxy Securities and China Everbright Bank, plan to proceed with offerings in the second quarter to replenish their capital base for further expansion in increasingly competitive conditions at home. Policymakers in Beijing have sent clear signals that the... https://www.scmp.com/business/banking-finance/article/1207234/signs-new-life-ipo-market?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/1207234/signs-new-life-ipo-market?utm_source=rss_feed Thu, 04 Apr 2013 16:00:00 +0000 In 2001, Bank of China listed its Hong Kong operations on the local exchange, and it was good. Regulators then gave their blessing for the Hong Kong listings of Bank of Communications, China Construction Bank, ICBC and Agricultural Bank of China, and investors rejoiced. It was a great 10-year run, in which Beijing bestowed on the local market giant IPOs that made investors a lot of money. Mainland financial institutions, including insurance firms, pretty much defined Hong Kong's new-listings... https://www.scmp.com/business/money/article/1173356/municipal-bank-ipos-beckon-local-bourse?utm_source=rss_feed https://www.scmp.com/business/money/article/1173356/municipal-bank-ipos-beckon-local-bourse?utm_source=rss_feed Sun, 03 Mar 2013 16:00:00 +0000 Bank of Shanghai and China Everbright Bank are relaunching their plans to go public in Hong Kong to raise a combined US$2.5 billion. Boosted by a recovery in valuations among listed mainland banks since early September, the share offers could go ahead as soon as the second quarter, say people familiar with the plans. Bank of Chongqing, a mid-sized lender based in southwest China, may also consider a Hong Kong initial public offering for a US$500 million share sale since mainland regulators have... https://www.scmp.com/business/banking-finance/article/1154978/bank-shanghai-china-everbright-plan-go-public-hong-kong?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/1154978/bank-shanghai-china-everbright-plan-go-public-hong-kong?utm_source=rss_feed Wed, 20 Feb 2013 16:00:00 +0000 After a difficult year, investment bankers are already looking ahead to a brighter new year when a number of mainland banks are expected to list in Hong Kong. With less than two months left this year, bankers have already reached out to clients wanting to issue stocks or bonds next year. Competition in the investment banking industry for big deals has particularly intensified in the past few weeks. "It has been a very bad year so you need to move on and see what you can do next year," a veteran... https://www.scmp.com/business/banking-finance/article/1076613/investment-bankers-target-new-year-listings-after-tough?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/1076613/investment-bankers-target-new-year-listings-after-tough?utm_source=rss_feed Tue, 06 Nov 2012 16:00:00 +0000 The so-called "market window" for companies that plan to list in Hong Kong this year is closing after a major mainland bank failed to launch its initial public offering this week, thanks to worsening market environment, bankers and analysts say. What makes it more difficult for listing hopefuls, particularly cash-hungry companies from the mainland, in seeking to launch their share sales soon is the securities watchdog's tougher scrutiny on new offerings. The postponement of the public offering... https://www.scmp.com/business/banking-finance/article/1025818/worsening-sentiment-narrows-market-window-new-listings?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/1025818/worsening-sentiment-narrows-market-window-new-listings?utm_source=rss_feed Wed, 29 Aug 2012 16:00:00 +0000 China Everbright Bank, the nation's 13th largest bank (ranked by assets), is set to raise up to US$2.5 billion in what could be the largest initial public offering in Asia so far this year. The issuer, founded in Beijing in 1992, attempted a US$6 billion flotation last summer, having listed in Shanghai in 2010. The deal was too ambitious, and its collapse was blamed - as usual in such cases - on market conditions. The dramatic reduction in deal size should make it easier for investors to... https://www.scmp.com/article/1001535/lowering-bar-may-bring-brighter-listing-result?utm_source=rss_feed https://www.scmp.com/article/1001535/lowering-bar-may-bring-brighter-listing-result?utm_source=rss_feed Sun, 20 May 2012 16:00:00 +0000 Shanghai-listed China Everbright Bank is pushing ahead with its initial public offering in Hong Kong after the stock offering was shelved several times because of a weak market. The Beijing-based mid-sized lender is looking to raise US$2-2.5 billion this time, sharply down on its original target of US$6 billion, according to people familiar with the matter, who said the bank had submitted the necessary A1 filing to the Hong Kong stock exchange. However, China Everbright Bank's Hong Kong listing... https://www.scmp.com/article/1000730/china-everbright-bank-has-new-go-offering?utm_source=rss_feed https://www.scmp.com/article/1000730/china-everbright-bank-has-new-go-offering?utm_source=rss_feed Fri, 11 May 2012 16:00:00 +0000 China Everbright Bank is making its third attempt to go public in Hong Kong as the mid-sized state lender seeks to boost its capital base amid tightening regulatory controls on the mainland. Tang Shuangning, the bank's chairman, told the official Financial News that one of his priorities this year was to raise capital for the Beijing-headquartered bank through various channels, including a listing in Hong Kong. 'We will complete our preparations and seek the most appropriate timing to push... https://www.scmp.com/article/992714/china-everbright-try-3rd-time-lucky?utm_source=rss_feed https://www.scmp.com/article/992714/china-everbright-try-3rd-time-lucky?utm_source=rss_feed Tue, 14 Feb 2012 16:00:00 +0000 China Everbright Bank has dusted off its application plan to list in Hong Kong after shelving its HK$48.4 billion share sale in August, market sources said yesterday. But the Beijing-based, medium-sized lender had yet to decide whether to list by the end of this year or in the first half of next year, according to a source who asked not to be named. He also said the bank had a pressing need to raise funds in order to prepare for the Basel III framework that required banks to increase their... https://www.scmp.com/article/983759/everbright-bank-revives-listing-plan?utm_source=rss_feed https://www.scmp.com/article/983759/everbright-bank-revives-listing-plan?utm_source=rss_feed Wed, 02 Nov 2011 16:00:00 +0000 China Everbright Bank will delay an initial public offering (IPO) in Hong Kong for a second time in less than two months. The postponement is due to worries that the current market volatility would hinder a successful IPO, said people with knowledge of the matter. They said the bank will postpone the share offering to an unspecified date later this year. '[China] Everbright is in a dilemma,' said an investment analyst in Beijing, who did not want to be named. 'The bank does not want pricing... https://www.scmp.com/article/975525/china-everbright-delays-ipo?utm_source=rss_feed https://www.scmp.com/article/975525/china-everbright-delays-ipo?utm_source=rss_feed Fri, 05 Aug 2011 16:00:00 +0000 China Everbright Bank might face a tough share sale in Hong Kong as the banking sector has underperformed the overall equity market over the past few weeks. The Shanghai-listed medium-sized bank received approval from the China Banking Regulatory Commission last month to launch a public offering in Hong Kong. Yesterday the Hong Kong Economic Journal reported the bank aimed to raise US$7 billion, with the target listing date being July 11. Shares of mainland banks have dropped this month as... https://www.scmp.com/article/970256/china-everbright-ipo-may-face-rough-sailing?utm_source=rss_feed https://www.scmp.com/article/970256/china-everbright-ipo-may-face-rough-sailing?utm_source=rss_feed Fri, 10 Jun 2011 16:00:00 +0000 China Everbright Bank has hired nine investment banks including Morgan Stanley, China International Capital Corp and UBS to manage its share offering in Hong Kong next month. The Beijing-based bank, the mainland's 11th-largest, yesterday said its big-ticket underwriters would ensure a smooth H-share sale, which is expected to spearhead a wave of fund-raising activities by mid-sized mainland banks. Apart from the three lead managers for the offering, JP Morgan, BNP Paribas, HSBC Holdings, Bank... https://www.scmp.com/article/969386/everbright-bank-lines-big-guns-hk-listing?utm_source=rss_feed https://www.scmp.com/article/969386/everbright-bank-lines-big-guns-hk-listing?utm_source=rss_feed Tue, 31 May 2011 16:00:00 +0000 China Everbright Bank is planning to launch as soon as next week a formal search for a strategic investment of at least US$1 billion from a foreign bank, as hopes of Standard Chartered taking a stake have faded, market sources said. The mainland's eighth-largest bank hoped to sell a stake of about 10 per cent in a process that could take about six months to complete, the sources said. 'We've been contacted and asked to bring forward clients that might be interested,' one banker said. However,... https://www.scmp.com/article/626149/everbright-bank-offers-foreign-buyer-10pc-stake?utm_source=rss_feed https://www.scmp.com/article/626149/everbright-bank-offers-foreign-buyer-10pc-stake?utm_source=rss_feed Wed, 13 Feb 2008 16:00:00 +0000 China Everbright shares suffered their biggest slump in more than five years, retreating more than 15 per cent yesterday amid worries that long-term profitability would be overshadowed by a delay in the share sale by its 21 per cent-owned China Everbright Bank. Shares of China Everbright, the Hong Kong-listed investment arm of financial conglomerate China Everbright Group, fell 15.43 per cent or HK$2.90 to close yesterday at HK$15.90. 'Market rumours that the A-share listing of China... https://www.scmp.com/article/624942/china-everbright-dives-154pc-profit-jitters?utm_source=rss_feed https://www.scmp.com/article/624942/china-everbright-dives-154pc-profit-jitters?utm_source=rss_feed Wed, 30 Jan 2008 16:00:00 +0000 Central Huijin Investment, which gained control of China Everbright Bank last month, plans to shake up the bank's management and eventually let Standard Chartered effectively run the lender, sources said. The mainland government investment arm gained a more than 51 per cent stake in the country's ninth-largest lender after pumping 20 billion yuan into the bank, the sources said. Standard Chartered of Britain would take a 20 per cent stake and was now negotiating terms, they said. A... https://www.scmp.com/article/595587/huijin-shuffle-management-everbright-bank?utm_source=rss_feed https://www.scmp.com/article/595587/huijin-shuffle-management-everbright-bank?utm_source=rss_feed Mon, 04 Jun 2007 16:00:00 +0000 China Everbright Bank, the mainland's eighth-largest lender, said profit jumped 21.65 per cent last year, thanks to strong loan growth and a higher margin from new products. Loans climbed 16 per cent to 352.4 billion yuan while deposits increased 14.7 per cent to 519.8 billion yuan, Everbright Bank said. Mainland lenders are reporting higher profits for last year as they earned more interest on strong loan demand amid robust economic growth. Everbright Bank did not provide the exact figures... https://www.scmp.com/article/581920/strong-loan-growth-lifts-everbright-bank-profit?utm_source=rss_feed https://www.scmp.com/article/581920/strong-loan-growth-lifts-everbright-bank-profit?utm_source=rss_feed Tue, 13 Feb 2007 16:00:00 +0000 At first glance, all things are not well at China Everbright Bank, the banking flagship of one of the mainland's less than a handful of financial holdings companies. The 13-year-old bank's capital adequacy ratio dwindled to 4.65 per cent - just more than half of the regulatory minimum of 8 per cent - at the end of 2003, the last year an annual report was published. Instead of a management target of pretax profit of one billion yuan, the bank booked losses of 4.58 billion yuan last year,... https://www.scmp.com/article/518873/everbright-cleans-governance-now-balance-sheet?utm_source=rss_feed https://www.scmp.com/article/518873/everbright-cleans-governance-now-balance-sheet?utm_source=rss_feed Sun, 02 Oct 2005 16:00:00 +0000 Red chip China Everbright warned yesterday its two main assets would report substantially worse results for last year, hitting the group's bottom line. This comes two months after analysts said the company appeared determined to clean up balance-sheet problems. In a late-night announcement, the red chip said China Everbright Bank and China Everbright Securities would be affected by increased provisions and changes in market conditions. China Everbright holds a 21.39 per cent stake in the... https://www.scmp.com/article/411951/china-everbright-issues-warning-key-assets?utm_source=rss_feed https://www.scmp.com/article/411951/china-everbright-issues-warning-key-assets?utm_source=rss_feed Tue, 08 Apr 2003 16:00:00 +0000 Unlisted China Everbright Group, a mainland conglomerate controlled by the State Council, made a 994 million yuan profit (about HK$931.58 million) last year. The conglomerate said the group's divisions achieved an improved performance on the preceding year, according to a report in the Financial News. During the year, assets rose 25 per cent to 296 billion yuan. Of which, 96 per cent came from its financial business - including China Everbright Bank and China Everbright Securities. However,... https://www.scmp.com/article/369722/asset-lift-china-everbright-931m-earnings?utm_source=rss_feed https://www.scmp.com/article/369722/asset-lift-china-everbright-931m-earnings?utm_source=rss_feed Thu, 24 Jan 2002 16:00:00 +0000