100,000 shares of Beijing Rural Commercial Bank equity starting at 188 yuan, with a net asset value of over 8 yuan per share. The entrusted party: to attract customer participation.

This year, the market for equity auctions of small and medium-sized banks has cooled down. On judicial auction platforms, the auctioning of small and medium-sized bank equities often results in “unsold” or “discounted” sales; on asset auction platforms, “super-low starting prices” have appeared.

Red Star Capital Bureau has noticed that on Alibaba Asset Auction Platform, multiple shares of Beijing Rural Commercial Bank (hereinafter referred to as “Beijing Rural Bank”) are currently or soon to be auctioned, including a lot of 100,000 shares with a starting price of 188 yuan.

The bureau contacted the entrusted party of this auction, United Property Rights Exchange Co., Ltd., as a client. Manager Zhu stated that setting the starting price at 188 yuan is to attract participants, “the final transaction price will definitely be more than 188 yuan.”

Manager Zhu said, “Based on our previous experience, lower starting prices attract more participants, and the final price won’t be low.”

Meanwhile, three lots of 100,000 shares of Beijing Rural Bank with a starting price of 380,000 yuan are also up for auction, but no bids have been received.

Regarding the starting price of 380,000 yuan, Manager Zhu said, “The final price shouldn’t be lower than 380,000 yuan; if it’s lower, no one would sell.”

Today, another lot of 100,000 shares of Beijing Rural Bank is being auctioned on Alibaba Asset Auction Platform, with a starting price of 1,888 yuan. As of 6:30 p.m., 15 hours before the auction ends, over 50 bids have been placed, and the current price is 214,900 yuan, more than 100 times the starting price.

The auction notice shows that as of the end of September 2025, Beijing Rural Bank’s net asset value per share was 8.37 yuan. Compared to 2024, the value of the bank’s equity has increased, with a net asset per share of 7.49 yuan at the end of 2024.

According to Beijing Rural Bank’s third-quarter report, as of the end of September 2025, the bank’s total assets amounted to 1,349.761 billion yuan, an increase of 91.732 billion yuan from the beginning of the year, a growth of 7.29%.

In addition to Beijing Rural Bank’s equity, two lots of Henan Rural Commercial Bank (hereinafter “Henan Rural Bank”) shares are also about to be auctioned at “super-low prices.” Both lots are 500,000 shares of individual stock, with starting prices of 188 yuan and 888 yuan respectively.

The lot starting at 888 yuan has been viewed 3,663 times, with 3 bidders.

Today, 300,000 shares of Henan Rural Bank are being auctioned with a starting price of 225,000 yuan, but as of press time, no bids have been received.

Previously, Alibaba Judicial Auction Platform showed that 595,400 shares of Henan Rural Bank were publicly bid on February 26. The assessed value was 1.03 million yuan, with a starting price of 659,300 yuan. By February 27, no bids were made, and the lot was unsold. This is the second auction for this equity.

An industry analyst pointed out that most small and medium-sized banks have weak profitability and dividend-paying capacity, with limited potential for equity appreciation. Even with significant discounts, the auction prices are unlikely to meet investors’ expected returns, making the investment less cost-effective. Additionally, some small and medium-sized banks face issues such as poor asset quality and incomplete governance structures. The trading scenarios for bank equities are limited, with difficult circulation, poor liquidity, and narrow exit channels, leading investors to worry about “being able to buy but not sell,” which suppresses enthusiasm for participation.

Bai Wenxi, Vice Chairman of the China Enterprise Capital Alliance, believes that the “winter” of small and medium-sized bank equity auctions reflects the concentrated release of risks accumulated from past extensive development models. The key to breaking this deadlock is not waiting for the market to warm up but through substantive risk clearing, governance restructuring, and mechanism innovation, to restore the investment value of small and medium-sized bank equities. In the short term, the market for small and medium-sized bank equity auctions will continue to be quiet, likely showing “deepening discounts and shrinking transactions.” For the banks themselves, they should break information asymmetry, actively disclose detailed progress on non-performing asset disposal, related-party transaction lists, and the true debt status of shareholders to rebuild market trust.

Editor: Tao Yueyang; some content compiled from Beijing Business Daily, Securities Daily, etc.

Review: Ren Zhijiang