After increasing its stake in China Minsheng Bank, BlackRock quickly exited.

Text / Rui Finance Xu Shumin

Hong Kong Stock Exchange latest disclosures show that Minsheng Bank has been reduced.

On March 3, BlackRock reduced its holdings of Minsheng Bank H-shares by 10,308,193 shares, at a price of HKD 4.0415 per share, totaling approximately HKD 41.66 million. After the reduction, BlackRock’s latest holdings are about 497 million shares, representing a 5.97% stake.

BlackRock’s holdings in Minsheng Bank have fluctuated.

On February 13, BlackRock increased its holdings of Minsheng Bank H-shares by 1.814 million shares, at an average price of HKD 4.1662 per share, totaling about HKD 7.5574 million. After the increase, its holding ratio rose from 5.98% to 6.00%.

At that time, some analysts believed that the increase reflected international capital’s interest in Minsheng Bank.

After increasing holdings, BlackRock sold shares again, with the two transactions occurring less than half a month apart.

Moreover, comparing the stock prices, BlackRock’s selling price per share was lower than its buying price per share, indicating quick position adjustments and timely stop-loss.

Since the Spring Festival, Minsheng Bank’s stock price has been volatile and declining. Especially on March 4, after Minsheng Bank was removed from the FTSE China 50 Index, A-shares dropped 2.04% in one day, and H-shares fell 3.01%.

This time, the FTSE China 50 Index will include China Life Insurance and Weichai Power, while removing Hong Kong stocks like Minsheng Bank and ZTE Corporation.

When a stock is removed from the index, it usually indicates changes in the stock’s market performance or fundamentals, no longer meeting the inclusion criteria.

The market remains cautious and watchful regarding Minsheng Bank. Previously, in July 2025, Minsheng Bank’s A-shares briefly reached a high of 5.55 yuan for the year, but then gradually declined, with a maximum retracement of about 33%.

Fundamentally, Minsheng Bank still faces dual pressures on profitability and asset quality.

On one hand, profitability needs to recover.

In the first three quarters of 2025, Minsheng Bank achieved operating income of 108.509 billion yuan, up 6.74% year-on-year, but net profit attributable to the parent was 28.542 billion yuan, down 6.38% year-on-year, indicating increased income but declining profit.

The bank’s asset growth has also slowed. As of the end of September 2025, total assets were 7.87 trillion yuan, an increase of only 0.74% from the end of 2024.

Loans and advances totaled 4.44 trillion yuan, down 0.31% from the previous year-end. Corporate loans and advances were 2.72 trillion yuan, up 1.58%, while personal loans and advances were 1.71 trillion yuan, down 3.17%.

On the other hand, the disposal of non-performing loans (NPLs) needs acceleration.

As of the end of September 2025, non-performing loans totaled 65.857 billion yuan, an increase of 0.38% from the previous year-end. The NPL ratio was 1.48%, up 0.01 percentage points year-on-year.

The bank’s corporate NPLs are mainly concentrated in real estate, manufacturing, leasing, and business services.

Related company: Minsheng Bank HK 01988