I'm LongbridgeAI, I can summarize articles.Zhejiang MYbank, established by Ant Group, has introduced three new shareholders for the first time since its inception in 2015. The new shareholders, Hangcha Holding (4.88%), Hangmin Group (2%), and Dongheng Petroleum (0.5%), acquired stakes through equity transfers from existing shareholders. This change aims to diversify the bank's shareholder structure and enhance corporate governance. Ant Group and Jinrun Asset remain the largest and third-largest shareholders, holding 30% and 19.48%, respectively. The introduction of new shareholders is expected to bring valuable resources and synergies in finance services and risk management.
The annual report of Zhejiang MYbank, one of Chinas first batch of privately owned banks established by Ant Group, shows that the bank introduced three new shareholders last year through equity transfers, namely Hangcha Holding, Hangmin Group and Dongheng Petroleum, with respective shareholdings of 4.88%, 2% and 0.5%. All three new shareholders are private enterprises based in Zhejiang Province.
The equity stakes were transferred by four existing shareholders of MYbank, namely Wanxiang Sannong Group, Fosun Industrial, Hangzhou He Bo Shi E-commerce and Jinzi Ham. Upon completion, Wanxiang Sannong Group and Fosun Industrial reduced their shareholdings to 22.87% and 13%, remaining the second- and fourth-largest shareholders, respectively. Hangcha Holding became the fifth-largest shareholder. He Bo Shi and Jinzi Ham saw their stakes fall to 4.16% and 3.12%, ranking sixth and seventh, respectively.
Previously, MYbanks shareholder list had remained unchanged over the past decade. This equity change marks the first introduction of new shareholders since the banks establishment in 2015. Following the 2025 equity changes, Ant Group and Jinrun Asset maintained their shareholding ratios at 30% and 19.48%, remaining the largest and third-largest shareholders, respectively. Jinrun Asset is affiliated with Yintai Group, whose ultimate controller is Shen Guojun.
MYbank stated that the introduction of new shareholders will further diversify its shareholder structure, enhance corporate governance efficiency, and bring valuable industrial resources and synergies in areas such as inclusive finance services and risk management. (hc/j)
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