Zhejiang Shaoxing RuiFeng Rural Commercial Bank Co Ltd: Shareholder Plans to Reduce Stake

In a recent development, Zhejiang Shaoxing RuiFeng Rural Commercial Bank Co Ltd, a financial institution listed on the Shanghai Stock Exchange, announced that its shareholder, Shaoxing AnTu Automobile, intends to reduce its stake in the bank. According to a notice released on August 7, 2025, AnTu Automobile plans to sell up to 2,354,590 shares, which represents no more than 1.20% of the bank’s total shares, between September 1 and November 30, 2025. This move is driven by the company’s internal funding requirements.

As of now, AnTu Automobile holds a 4.05% stake in RuiFeng Bank, and together with its affiliated parties, the total stake exceeds 6.10%. This reduction will bring their combined holding below the 5% threshold, which is significant as it affects their influence and voting power within the bank.

Banking Sector Gains Momentum

The banking sector has shown robust performance recently, with a notable increase of 1.59% on August 5, 2025. This surge was accompanied by a net inflow of 13.78 billion yuan in capital, highlighting strong investor confidence in the sector. Among the top-performing banks, Industrial and Commercial Bank of China (ICBC) saw a 1.25% rise, while China Construction Bank (CCB) and Bank of China (BOC) also experienced significant gains.

The inflow of capital into the banking sector underscores a broader trend of investor optimism, with major banks like ICBC, CCB, and BOC attracting substantial investments. This positive sentiment is reflected in the overall market dynamics, where the banking sector continues to be a focal point for investors seeking stable returns.

Market Overview

The Shanghai Composite Index rose by 0.96% on August 5, with the banking sector leading the gains. This performance is part of a broader market trend where sectors like telecommunications and non-bank financials also saw significant inflows, indicating a diversified interest among investors.

Overall, the strategic moves by key shareholders and the strong performance of the banking sector highlight a dynamic period for Zhejiang Shaoxing RuiFeng Rural Commercial Bank Co Ltd and the broader financial landscape in China. Investors and stakeholders will be closely monitoring these developments as they unfold.