HK Stock Market Move | China Minsheng Banking Corp., Ltd. (01988) rose nearly 6% again, and New Hope Liuhe Group intends to acquire China Minsheng Banking Corp., Ltd., making it the fourth largest shareholder.

China Minsheng Banking Corp., Ltd. (01988) rose nearly 6% again, as of the time of publication, it rose by 5.84% to 3.26 Hong Kong dollars, with a trading volume of 151 million Hong Kong dollars. In terms of news, China Minsheng Banking Corp., Ltd. announced that the main shareholder New Hope Liuhe Group's subsidiary, New Hope Liuhe Chemical, plans to increase its holdings of the bank's A shares through the secondary market. Currently, New Hope Liuhe Group holds a total of 4.96% of Minsheng's total share capital, and after the increase, its shareholding will exceed 5%. The relevant investment will be implemented after approval. After the approval of this takeover, New Hope Liuhe will become the fourth largest shareholder of China Minsheng Banking Corp., Ltd. It is worth noting that on the evening of October 25th, China Minsheng Banking Corp., Ltd. announced the resolutions of the 2024 First Extraordinary General Meeting of Shareholders and the legal opinion. The announcement showed that out of the seven proposals passed that day, six were approved by a 99% agreement rate, with the exception of the proposal to amend the "Articles of Association of China Minsheng Banking Corp., Ltd.," which saw a significant difference of opinion with only 82.9% approval, and among the H-share voting shareholders, the opposition rate reached 70%. Among the A-share shareholders below 5%, the opposition to this proposal also reached 12%, much higher than the less than 1% opposition to other proposals.