Core Viewpoint - The bank supervisory board system, in operation for nearly 30 years, is approaching its end as banks begin to abolish this structure in favor of audit committees, following new regulations from the China Securities Regulatory Commission (CSRC) and the Financial Regulatory Bureau [2][3][4]. Regulatory Framework for Reform - The new Company Law, effective from July 2024, allows financial institutions to replace supervisory boards with audit committees, fundamentally changing the requirement for supervisory boards as mandatory entities [3][4]. - The Financial Regulatory Bureau has issued policies that support the transition, allowing financial institutions to choose between retaining supervisory boards or establishing audit committees to perform supervisory functions [3][4]. Differences in Implementation - There is a differentiation in the approach to abolishing supervisory boards between listed and non-listed banks, with listed banks required to eliminate supervisory boards by 2026, while non-listed banks have the option to retain them [4][5]. - Major state-owned banks have already initiated the process of abolishing supervisory boards, with the five largest banks voting to remove them in April 2025 [5]. Effectiveness and Challenges of Supervisory Boards - The supervisory board has been criticized for its lack of independence, professionalism, and efficiency, often leading to overlapping functions and ineffective oversight [6][7]. - The costs associated with maintaining a supervisory board are significant, with estimates suggesting that listed banks could save millions annually by abolishing this structure [7]. Transition Paths for Supervisory Board Members - Former supervisory board members may transition to roles within the audit committee, take on positions in other financial institutions, or retire from the industry [8]. - The governance mechanism is expected to become more efficient, with fewer decision-making layers and a more direct oversight structure through audit committees [8].

Group 1 - The core point of the article is the resignation of Lu Wei as the President of CITIC Bank due to work adjustments, and his subsequent appointment as the President of Postal Savings Bank [2][4][5] - CITIC Bank's announcement highlights Lu Wei's 26 years of service, where he held various key positions and made significant contributions to the bank's financial management, capital replenishment, and international development [4] - Lu Wei, aged 54, has had a diverse career within CITIC Bank, including roles such as Deputy General Manager of the Beijing Branch and Secretary of the Board, before becoming the youngest Vice President in April 2021 [4] Group 2 - Lu Wei has officially taken up the role of President at Postal Savings Bank, following the board's decision on December 26, pending approval from the National Financial Regulatory Administration [5] - The previous President of Postal Savings Bank, Liu Jianjun, resigned due to reaching the statutory retirement age, effective immediately [5] - Financial data for Postal Savings Bank shows that for the first three quarters of 2025, the bank achieved revenue of 265.08 billion yuan, a year-on-year increase of 1.82%, and a net profit of 76.794 billion yuan, up 1.07%, continuing a trend of growth [6]

Group 1 - The president of CITIC Bank, Lu Wei, has resigned due to work adjustments and has been appointed as the president of Postal Savings Bank [2][4] - Lu Wei has served at CITIC Bank for 26 years, holding various key positions and contributing significantly to the bank's financial management, capital replenishment, and international development [2] - The board of CITIC Bank has appointed Fang Heying to assume the responsibilities of the president following Lu Wei's departure [2] Group 2 - Postal Savings Bank has announced the appointment of Lu Wei as its new president, pending approval from the National Financial Regulatory Administration [4] - The previous president of Postal Savings Bank, Liu Jianjun, has resigned due to reaching the statutory retirement age [4] - For the first three quarters of 2025, Postal Savings Bank reported revenue of 265.08 billion yuan, a year-on-year increase of 1.82%, and a net profit of 76.794 billion yuan, up 1.07% [4]

Group 1 - The president of CITIC Bank, Lu Wei, has resigned due to work adjustments and has been appointed as the president of Postal Savings Bank [2][3][4] - Lu Wei has served at CITIC Bank for 26 years, holding various key positions and contributing significantly to the bank's financial management, capital replenishment, and international development [3] - The board of CITIC Bank has appointed Fang Heying to assume the responsibilities of the president following Lu Wei's departure [3] Group 2 - Postal Savings Bank has announced the appointment of Lu Wei as its new president, pending approval from the National Financial Regulatory Administration [4] - Liu Jianjun, the former president of Postal Savings Bank, has resigned due to reaching the statutory retirement age [4] - For the first three quarters of 2025, Postal Savings Bank reported a revenue of 265.08 billion yuan, a year-on-year increase of 1.82%, and a net profit of 76.794 billion yuan, up 1.07% [5] - As of the end of the third quarter of 2025, Postal Savings Bank's total assets reached 18.61 trillion yuan, an increase of 8.9% from the previous year [5] - The non-performing loan ratio of Postal Savings Bank stands at 0.94%, the only major state-owned bank below 1%, although it has increased by 0.04 percentage points compared to the end of last year [5]

Group 1 - The "14th Five-Year Plan" has made significant progress in building a modern industrial system, with a focus on strengthening the real economy [2] - By the end of September 2025, the balance of medium- and long-term loans for the manufacturing sector from Postal Savings Bank has increased by over 11% compared to the previous year [2] - The comprehensive innovation capability of the country has steadily improved, ranking first in the national comprehensive innovation capability ranking by 2024 [3] Group 2 - The consumer market has seen both quantity and quality improvements during the "14th Five-Year Plan," with total retail sales of social consumer goods reaching 4,419.45 billion yuan by 2024 [4] - Postal Savings Bank continues to optimize financial supply to promote the upgrading of consumption [4] - The number of registered business entities in the country has been increasing, reflecting the vitality of business entities during the "14th Five-Year Plan" [5] Group 3 - The development of high-quality private and small and micro enterprises has been supported, with the balance of inclusive small and micro enterprise loans reaching 801.247 billion yuan by September 2025 [6] - Agricultural modernization has progressed steadily, with the comprehensive mechanization rate of crop farming reaching 41.3% by 2025 [7] - Postal Savings Bank has deepened its involvement in the agricultural sector, with the balance of agricultural loans reaching 1.41 trillion yuan by 2020 [7] Group 4 - The quality of life for citizens has improved significantly, with per capita disposable income reaching 6.74 billion yuan by 2024 [8] - Postal Savings Bank has extended its services to enhance the quality of financial services for the betterment of people's lives [8]

Major Events - Cloudtop New Horizon (01952) has its original product, Nanfukang®, protected by patent ZL200980127272.5 in China, which is currently valid [1] - Linkang Biotechnology Group (00690) has reached a strategic cooperation with Wenzhou Medical University National Engineering Research Center and the People's Government of Ouhai District, Wenzhou [1] - Auhua Pharmaceutical (00013) announced that the new drug application for Savolitinib for treating gastric cancer patients with MET amplification has been accepted and included in priority review in China [1] - Fosun Pharma (02196) has initiated Phase I clinical trials for its integrated diagnosis and treatment nuclear medicine project SRT-007 within China [1] - Postal Savings Bank of China (01658) has received approval from the National Financial Supervision Administration for the absorption and merger with Postal Huai Wanjia Bank [1] - MicroPort Cardiac Devices-B (02160) has officially published the one-year follow-up results of the early feasibility study for AltaValveTM [1] Operating Performance - New Fire Technology Holdings (01611) reported an annual loss attributable to shareholders of HKD 9.212 million, a shift from profit to loss year-on-year [1] - Xingqian Development (00640) reported an annual net profit of approximately HKD 122 million, an increase of 21.7% year-on-year [1] - Zijin Mining Group (02899) expects a net profit attributable to shareholders of approximately RMB 51-52 billion for the fiscal year 2025, representing a year-on-year increase of about 59%-62% [1] - Zijin Gold International (02259) issued a profit warning, expecting a net profit attributable to shareholders of approximately USD 1.5-1.6 billion for 2025, a year-on-year increase of about 212%-233% [1]

Group 1 - The core point of the news is that China Postal Savings Bank has received approval to absorb and merge its wholly-owned subsidiary, Postal Huinong Bank, which will leave only Citic Baixin Bank as the remaining independent legal direct bank in China [1][3]. - The merger is expected to optimize management and business structure, enhance digital transformation effectiveness, improve operational efficiency, and reduce management costs for China Postal Savings Bank [3]. - Postal Huinong Bank, established in 2022 with a registered capital of 5 billion yuan, was intended as a testing ground for the digital transformation of China Postal Savings Bank [3]. Group 2 - In 2024, Postal Huinong Bank reported a revenue of 243 million yuan and a net loss of 415 million yuan, with total assets of 12.828 billion yuan and total liabilities of 8.669 billion yuan by the end of 2024 [3]. - The non-performing loan ratio for Postal Huinong Bank was 6.66%, with a provision coverage ratio of 239.55% [3]. - The trend of merging or shutting down direct banking operations has been observed across multiple banks since 2017, with several banks like Ping An Bank and Shanghai Pudong Development Bank closing or integrating their direct banking channels [4]. Group 3 - Regulatory tightening is a significant reason for the decline in direct banking operations, with increased scrutiny on financial institutions to return to core operations and maintain risk isolation [4]. - The tightening of regulations regarding data security, personal information protection, and internet loans has limited the business models that direct banks previously relied on, making innovation more challenging [4]. - The once-prominent role of direct banks as a key tool for traditional banks to counter the impact of internet finance has diminished significantly [4].

证券日报网讯12月30日，邮储银行（601658）发布公告称，公司将于2026年1月19日召开2026年第一次 临时股东会。 ...

Core Viewpoint - Postal Savings Bank of China (PSBC) announced the absorption merger with Postal Huinong Bank to optimize resource allocation and reduce management costs, with the approval from the National Financial Regulatory Administration [1] Group 1: Merger Details - PSBC will hold a special shareholders' meeting on October 9, 2025, to approve the merger with Postal Huinong Bank [1] - The merger will allow PSBC to inherit the assets, liabilities, business, and employees of Postal Huinong Bank after asset verification [1] Group 2: Strategic Benefits - The merger aims to further optimize PSBC's management and business structure, strengthen digital transformation outcomes, improve operational efficiency, and lower management costs [1] - Postal Huinong Bank is a wholly-owned subsidiary of PSBC, and its financial statements have been fully consolidated into PSBC's financial reports, indicating no impact on PSBC's financial status and operating results from the merger [1]

Core Viewpoint - Postal Savings Bank of China (PSBC) has announced the absorption merger with Postal Huinong Bank to optimize resource allocation, reduce management costs, and enhance operational efficiency [1] Group 1: Merger Details - The second extraordinary general meeting of shareholders will be held on October 9, 2025, to review the merger proposal [1] - The merger has been approved by the National Financial Regulatory Administration, allowing PSBC to absorb Postal Huinong Bank and take over its assets, liabilities, business, and employees after asset verification [1] Group 2: Strategic Benefits - The merger aims to further optimize PSBC's management and business structure, consolidate digital transformation results, and improve operational efficiency while lowering management costs [1] - Postal Huinong Bank is a wholly-owned subsidiary of PSBC, and its financial statements are already fully consolidated into PSBC's financial reports [1] Group 3: Financial Impact - The merger will not affect PSBC's financial status or operating results, nor will it harm the interests of the bank and its shareholders [1] - PSBC will strictly follow the approval documents and relevant laws and regulations in handling the merger process [1]