Core Viewpoint - Two banks, Bohai Bank and Guangzhou Rural Commercial Bank, are selling large asset packages to improve capital efficiency and prepare for the next fiscal year [1][2] Group 1: Asset Transfer Details - Bohai Bank plans to publicly transfer debt assets totaling approximately 700 billion yuan, including principal, interest, and penalties [2] - The asset package consists of 174 debt claims, with 52 claims aged over five years, indicating low liquidity [2] - Guangzhou Rural Commercial Bank intends to transfer a credit asset package worth 189.28 billion yuan, with a principal scale of 149.78 billion yuan and interest of 38.97 billion yuan [2] Group 2: Financial Impact - The asset transfers are expected to alleviate capital occupation and improve performance, as the transferred assets have resulted in pre-tax losses of 5.09 billion yuan and 10.6 billion yuan for 2023 and 2024, respectively [2][3] - The non-performing loan ratio for Guangzhou Rural Commercial Bank increased to 1.98%, with overdue loans reaching 510.9 billion yuan, indicating deteriorating asset quality [3] Group 3: Strategic Rationale - The banks are strategically transferring assets to enhance capital usage efficiency and improve year-end financial statements, allowing for more space for future business development [3][4] - This move is seen as a proactive risk management strategy, optimizing asset structure and enhancing liquidity for reinvestment in higher-potential areas [4][5] Group 4: Market Implications - The trend of transferring non-performing assets is beneficial for the banking sector, as it helps reduce bad debt ratios and improves overall asset quality [5][6] - The asset transfers are expected to create opportunities for financial asset management companies and contribute to a healthier financial ecosystem [5][6]

从基本面展望，银行业绩波动较小，利润基本保持平稳正增长，25H1上市银行利润增速达0.8%，全年 来看，业绩有望保持稳中向好的趋势。从边际变化的角度来看，银行息差的同比降幅有望持续收窄，利 好业绩表现。(格隆汇) | 代码 | 名称 | 最新价 | 涨跌幅 √ | | --- | --- | --- | --- | | 01288 | 农业银行 | 5.320 | 1.72% | | 01398 | 工商银行 | 5.720 | 1.06% | | 00939 | 建设银行 | 7.410 | 0.95% | | 01551 | 广州农商银行 | 1.660 | 0.61% | | 03618 | 重庆农村商业银 | 5.920 | 0.68% | | 00998 | 中信银行 | 6.800 | 0.44% | | 01963 | 重庆银行 | 7.230 | 0.14% | 港股内银股部分逆势上涨，其中，农业银行涨近2%，工商银行、建设银行涨1%，中信银行、重庆银 行、广州农商银行跟涨。 消息上，国泰海通研报指出， 受资金风格切换影响，自7月10日以来，银行指数累计跌幅达到14%，明 显跑输沪深300（累 ...

Core Insights - The banking sector is accelerating the disposal of historical burdens, with two significant debt asset transfer cases exceeding 100 billion yuan, aimed at optimizing asset structure and improving capital adequacy ratios [1][2][3] Group 1: Major Asset Transfers - Bohai Bank plans to publicly transfer debt assets totaling approximately 700 billion yuan, including principal, interest, and penalties, with a minimum price set at about 488.83 billion yuan, reflecting a discount of around 30% [2] - Guangzhou Rural Commercial Bank has approved a plan to transfer a credit asset package worth approximately 189.28 billion yuan, which includes a principal amount of 149.78 billion yuan and has incurred significant tax losses [3] Group 2: Market Trends in Non-Performing Loans - The transfer of small, dispersed non-performing loans has become a regular occurrence, with various banks listing personal consumption loans and credit card overdrafts on the bad loan transfer platform [4][5] - The trend of transferring small-scale non-performing loans is supported by a growing number of banks participating in the market, enhancing their willingness and ability to dispose of such assets [5][6] Group 3: Evolving Asset Management Strategies - The banking industry is transitioning from a traditional "sell-off" model to a more market-oriented and diversified approach for managing non-performing assets, including asset-backed securities (ABS) [7][8] - Financial institutions are encouraged to adopt a comprehensive approach to non-performing asset management, utilizing various methods such as cash recovery, self-write-offs, and asset securitization to enhance efficiency [8]

Core Viewpoint - The banking industry is accelerating the disposal of historical burdens, with significant debt asset transfers occurring to optimize asset structures and improve capital adequacy ratios [1][2][3] Group 1: Major Debt Asset Transfers - Bohai Bank plans to publicly transfer debt assets totaling approximately 700 billion yuan, including principal, interest, and penalties, with a minimum price set at about 488.83 billion yuan, reflecting a discount of around 30% [2] - Guangzhou Rural Commercial Bank has approved a plan to transfer a credit asset package worth approximately 189.28 billion yuan, which includes a principal amount of 149.78 billion yuan and has incurred tax losses in recent years [3] Group 2: Trends in Non-Performing Asset Management - The transfer of small, dispersed non-performing assets has become a regular practice, with various banks listing personal loans and credit card debts on platforms for regular transactions [4][5] - The trend of transferring non-performing loans is expanding, with banks increasingly willing to dispose of small, high-risk loans through standardized processes [5][6] Group 3: Evolving Asset Disposal Strategies - The banking sector is transitioning from traditional bulk transfer methods to more market-oriented and diversified solutions, including asset-backed securities (ABS) to enhance capital market participation [7][8] - Regulatory changes are encouraging more market participants to engage in non-performing asset disposal, which is expected to improve efficiency and broaden the market supply [7][8]

Core Viewpoint - Guangzhou Rural Commercial Bank plans to sell nearly 20 billion yuan of credit assets at a discount after a gap of nearly 10 months, aiming to enhance its risk resilience and operational efficiency [2][6]. Group 1: Asset Details - The principal amount of the credit assets is approximately 14.978 billion yuan, with a total debt amount of about 18.928 billion yuan, expected to be sold for no less than 12.2 billion yuan [2][3]. - The book value of these credit assets, after considering interest receivables and asset impairment provisions, is approximately 12.132 billion yuan [4]. Group 2: Industry Breakdown - The credit assets are primarily distributed across the following sectors: leasing and business services (38.78%, 5.808 billion yuan), real estate (20.46%, 3.064 billion yuan), and wholesale and retail (16.27%, 2.437 billion yuan) [5][4]. Group 3: Financial Implications - The expected sale price represents a discount of about 20% on the principal, with a slight premium of 0.68 billion yuan over the book value [6]. - Proceeds from the asset sale will be used for general operational funding, which is anticipated to lower the non-performing loan ratio and improve overall efficiency [6]. Group 4: Context and Previous Actions - This is the second significant discounted sale of credit assets by Guangzhou Rural Commercial Bank in the past year, following a previous sale of approximately 14.592 billion yuan in November 2024 [7]. - The bank's non-performing loan ratio has increased to 1.98%, up by 0.32 percentage points from the end of the previous year, indicating ongoing pressure on asset quality [7].

面对不良率回升，广州农商行再次出手剥离大额信贷资产。10月9日，广州农商行发布公告，公司董事 会已批准一项潜在非常重大出售事项——拟转让合计约189.28亿元的债权资产。本次交易的初步最低代 价总额预计约122亿元，扣除资产减值准备等较出售资产账面价值轻微溢价0.68亿元。 结合此前公告，自2023年以来，广州农商行已经连续3年甩卖百亿资产，且集中为对公贷款。财报显 示，截至2025年6月末，该行不良贷款合计142.19亿元，不良率1.98%，较去年末上升0.32个百分点；逾 期贷款达510.9亿元，较去年末增加190.2亿元。 再甩卖近200亿债权，出售资产持续亏损 据公告，截至2025年6月末，广州农商行本次出售的信贷资产包规模为189.28亿元，其中本金149.78亿元 （账面价值121.32亿元），利息38.97亿元，另含代垫司法费用0.51亿元，违约金0.02亿元。 | | 贷款金额 | | | --- | --- | --- | | 行业 | 本金余额 | 自分比 | | 相赁和商务服务业 | 580,790.13 | 38.78% | | 房地产业 | 306,424.36 | 20.46% | ...

Core Viewpoint - Guangzhou Rural Commercial Bank has conditionally agreed to sell its credit assets, which include loans, and is seeking shareholder approval for this transaction [1] Summary by Relevant Sections Transaction Details - The board of directors approved the transaction on October 9, 2025, and will seek shareholder authorization at an extraordinary general meeting [1] - The assets being sold include the bank's credit assets, specifically loans, along with associated rights and obligations [1] Financial Information - As of June 30, 2025, the principal amount of the assets to be sold is approximately RMB 14.978 billion, with corresponding interest amounting to about RMB 3.897 billion, judicial fees of approximately RMB 0.051 billion, and penalties totaling around RMB 0.002 billion, leading to a total debt amount of approximately RMB 18.928 billion [1] Strategic Implications - The completion of this transaction will transfer ownership of the assets from the bank to the buyer, allowing the bank to receive cash compensation [1] - This transaction is expected to enhance the bank's risk resilience, improve operational efficiency and profitability, and optimize its business structure and asset quality, laying a foundation for stable operations and long-term development [1]

Core Viewpoint - Guangzhou Rural Commercial Bank has announced a conditional agreement to sell its credit assets, which includes loans, with the aim of enhancing its risk resilience, operational efficiency, and profitability while optimizing its business structure and asset quality [1] Summary by Relevant Sections Transaction Details - The board of directors approved the transaction on October 9, 2025, and will seek shareholder approval at a temporary general meeting [1] - The assets being sold include credit assets with a principal amount of approximately RMB 14.978 billion, interest amounting to about RMB 3.897 billion, judicial costs of approximately RMB 0.051 billion, and penalties totaling around RMB 0.002 billion, leading to a total debt amount of approximately RMB 18.928 billion [1] Impact on the Bank - Upon completion of the transaction, ownership of the assets will transfer from the bank to the buyer, and the bank will receive corresponding cash compensation [1] - The transaction is expected to significantly enhance the bank's risk resilience, improve operational efficiency and profitability, and lay a foundation for stable operations and long-term development [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 Guangzhou Rural Commercial Bank Co., Ltd.* 廣州農村商業銀行股份有限公司 * （於中華人民共和國註冊成立的股份有限公司） （股份代號：1551） 有關潛在非常重大出售事項之 建議授權 建議出售事項及建議授權 董事會謹此宣佈，於2025年10月9日，董事會批准本次交易，據此，本行有條 件同意出售所出售資產，同時，董事會提議提請在臨時股東大會上尋求股東批 准建議授權，並由董事會轉授權其他相關人士共同或單獨全權處理本次交易有 關事項以使董事會及授權人士能夠於授權有效期出售所出售資產。 本行將就建議出售事項之建議授權的後續進展適時作出進一步公告。 《上市規則》的涵義 根據《上市規則》第14.22條，如一連串交易全部均於12個月內完成或屬彼此相 關者，則該等交易應合併計算，並視作一項事務處理。由於此次擬進行的建議 出售事項的潛在受讓方與先前資產轉讓事項的受讓方廣州資產管理 ...

公司名稱: 廣州農村商業銀行股份有限公司 (「本行」) FF301 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年9月30日 狀態: 新提交 致：香港交易及結算所有限公司 呈交日期: 2025年10月8日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01551 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 2,674,925,000 | RMB | | 1 RMB | | 2,674,925,000 | | 增加 / 減少 (-) | | | 0 | | | RMB | | 0 | | 本月底結存 | | | 2,674,925,000 | RMB | | 1 RMB | | 2,674,925,000 | | 2. 股份分 ...