Core Viewpoint - Luzhou Bank has decided to postpone the submission of its non-public H-share issuance proposal to the shareholders' meeting, which was originally planned to raise at least HKD 1.85 billion by issuing up to 1 billion new H-shares at a minimum price of HKD 1.85 per share [1][2] Group 1: Shareholder Feedback and Decision - The decision to postpone was influenced by shareholder feedback regarding the non-public issuance proposal, leading the board to reconsider the plan [2][3] - The withdrawn proposals included several special resolutions for the annual shareholders' meeting and the first meetings of domestic and H-share shareholders, resulting in the cancellation of these meetings [2] Group 2: Governance and Future Plans - This situation highlights the importance of shareholder influence in major corporate decisions and reflects the company's governance standards [3] - The postponement is intended to allow management time to adjust the non-public issuance plan based on shareholder concerns, ensuring that future capital plans meet regulatory requirements and stakeholder interests [3] Group 3: Capital Needs and Market Position - Luzhou Bank, a state-owned enterprise, has a total share capital of approximately 2.718 billion shares, with major shareholders including Luzhou Laojiao Group and Sichuan Jiale Enterprise Group [4] - As of the end of 2024, the bank's core Tier 1 capital adequacy ratio was 8.27%, below the national average of 11.00%, indicating a continued need for capital supplementation [4] - The bank has been growing its asset base, reaching RMB 171 billion by the end of 2024, which represents an 8.48% increase from the previous year [4] Group 4: Future Capital Plans - The original plan to issue H-shares aimed to leverage the Hong Kong capital market for financing to enhance core Tier 1 capital and competitive strength [5] - Despite the postponement, the ongoing growth in asset size and relatively low capital adequacy ratio suggest that the need for capital supplementation remains significant [5] - Future capital plans, including potential "broken net issuance" or other strategies, may be revisited when market conditions and shareholder feedback align favorably [5]

Core Viewpoint - Luzhou Rongcheng Glass faced challenges after acquiring Gaohong Glass assets, including uncompleted asset transfers and legal issues with former controllers, leading to financing difficulties despite having new production line equipment ready [2] Group 1: Financing Challenges - Luzhou Rongcheng Glass encountered a "non-standard" financing scenario due to historical issues, resulting in a funding "disruption" for raw materials [2] - The bank focused on the substantive operational risks rather than surface-level concerns, implementing measures to assess the company's true risk and operational capability [2] Group 2: Risk Assessment Measures - Legal clarification was conducted to delineate new and old debt risks, confirming no association between Luzhou Rongcheng Glass and Gaohong Glass's original debts, effectively "clearing" the company’s name [2] - On-site verification was performed to assess the company's operational vitality, leading to the confirmation of eight years of stable operations and steady revenue growth [2] - The management team's strength was evaluated, highlighting over ten years of industry experience and professional skills in cost control and development planning, which are crucial for the company's value creation and debt repayment capacity [2] Group 3: Financial Support - Through thorough due diligence and risk assessment, Luzhou Bank issued a 3 million yuan credit loan to Luzhou Rongcheng Glass within three days, alleviating the company's short-term financial pressure and supporting the new production line's launch, which is expected to increase annual production by 20 million yuan [3] - A representative from Luzhou Bank emphasized the importance of assessing the "living" operations, "true" teams, and "real" futures of enterprises, committing to support potential and trustworthy companies [3]

Group 1 - Qingdao Guoxin Group plans to increase its stake in Qingdao Bank through its subsidiaries, with the total holding expected to not exceed 19.99% after the increase [1] - Qingdao Bank's board has approved the proposal for the stake increase, which will be implemented after regulatory approval [1] - Qingdao Guoxin Group is currently the third-largest shareholder of Qingdao Bank, holding 14.99% of the shares, and could become the largest shareholder if the plan is fully executed [1] Group 2 - The stake increase by Qingdao Bank is part of a broader trend, with other regional banks like Luzhou Bank also announcing capital increase plans [2] - Luzhou Bank plans to issue up to 1 billion new H-shares at a price not lower than 1.85 HKD per share to enhance its core Tier 1 capital adequacy ratio [2] - Many regional banks are seeing increased participation from local state-owned enterprises in their capital increases, driven by regulatory demands and market conditions [2] Group 3 - Analysts suggest that local state-owned enterprises' investments in small and medium-sized banks help optimize ownership structures and improve governance, which is crucial for mitigating regional financial risks [3] - The capital injection from local state-owned enterprises not only supplements the banks' capital but also strengthens their ties with local economies, facilitating access to regional development resources [3] - Enhanced state control is expected to improve decision-making efficiency and establish a solid foundation for the long-term development of small and medium-sized banks [3]

Core Viewpoint - Local small and medium-sized banks in China are accelerating capital replenishment actions in response to regulatory pressures and the need for financial stability [2][8] Group 1: Capital Replenishment Actions - Su Nong Bank plans to increase its registered capital from 1.803 billion to 2.019 billion yuan through the conversion of convertible bonds and capital reserves [2] - Luzhou Bank intends to issue up to 1 billion new H shares, with a shareholder meeting scheduled for the end of June [2] - Several banks, including Jilin Bank and Tianjin Rural Commercial Bank, are also in the process of capital replenishment through various means [2] Group 2: Challenges and Pressures - The banking sector is experiencing a prolonged low-interest-rate environment, leading to a narrowing net interest margin and increased pressure on revenue growth [3] - Rising default rates among corporate and individual clients due to real estate market issues and local government debt are further straining asset quality [3] - Regulatory bodies are imposing stricter requirements on risk management and internal controls for small and medium-sized banks, necessitating reforms and restructuring [3] Group 3: Strategic Considerations - Optimizing equity structure and enhancing market competitiveness are key considerations for capital increases, with potential benefits from introducing strategic investors [5] - Capital adequacy is crucial for banks to maintain trust and expand business operations in a competitive market [5] Group 4: Effects of Capital Increase - Capital increases will enhance capital adequacy ratios, allowing banks to meet regulatory requirements and expand credit offerings [6] - Higher capital levels improve risk resilience, providing a buffer against potential losses amid economic downturns [6] - Introducing strategic investors can lead to improved governance and operational efficiency [6] Group 5: Future Trends in Capital Replenishment - The trend of capital replenishment among local banks is expected to continue, driven by regulatory demands and the need for strategic development [8] - The banking sector is likely to seek diverse capital sources, including local state-owned enterprises and foreign investments, to optimize governance and enhance competitiveness [9] - As economic structures evolve, banks will need to invest in new business areas, necessitating further capital increases to support digital transformation and risk management improvements [9]

港股银行板块持续活跃之际，有上市银行正谋划定增事宜。近日，H股上市公司泸州银行发布公告称， 该行将于6月30日举行2024年度股东大会，审议关于该行根据特别授权非公开发行H股的议案。 受访专家认为，城商行等中小银行资本补充需求强烈，但同时面临内源性资本补充能力受制约、外源性 资本补充相对受限，故资本补充尤其是核心一级资本补充压力较大。 受访专家认为，今年以来，港股流动性改善，港股银行板块受经济复苏预期和低利率环境提振涨势明 显。泸州银行此时定增，可以利用市场回暖窗口期获得更多资金。 募资不低于18.32亿港元 公开资料显示，泸州银行为四川省内"酒系"银行之一，于2018年12月份在香港联交所主板上市，是我国 西部地区地级市中首家上市银行。该行主要股东有泸州老客集团、泸州鑫福矿业集团有限公司、四川省 佳乐企业集团、泸州市财政局等。截至2024年末，该行资产总额为1710亿元。 根据公告，泸州银行此次发行的预计发行价格将不低于1.85港元/股，较截至2024年12月31日该行经审 计的归属于该行股东每股净资产（3.73元人民币）折价明显。同时，这一发行价格也大幅低于该行公告 当天（6月9日）的收盘价2.48港元/ ...

根据《中华人民共和国公司法》和《泸州银行股份有限公司章程》的有关规定，本行董事会决定于2025 年6月30日（星期一）在泸州召开本行2024年度股东大会、2025年第一次内资股类别股东会议。现将会 议有关事项通知如下： 2024年度股东大会、2025年第一次内资股类别股东会议 （二）会议召集人 本行董事会 （三）会议时间 二、会议审议事项 2024年度股东大会将审议以下决议案（包括普通决议案以及特别决议案，其中特别决议案以*标记）： 1.审议及批准本行2024年度报告； 2.审议及批准本行2024年度董事会工作报告； 3.审议及批准本行2024年度监事会工作报告； 4.审议及批准本行2024年度董事、监事、高管履职评价报告； 2024年度股东大会于2025年6月30日上午9:00开始，2025年第一次内资股类别股东会议于2025年6月30日 上午9:30开始或紧随2024年度股东大会结束后（以较晚者为准）开始，预计会期半天 （四）会议地点 四川省泸州市江阳区酒城大道三段18号1号楼泸州银行1101会议室 （五）会议方式 现场会议、投票表决 5.审议及批准本行2024年度财务决算报告； 6.审议及批准本行202 ...

在川渝腹地，涪江蜿蜒穿遂宁，长江浩荡过泸州，两条血脉般的河流虽未直接交汇，却共同滋养着这片 人文沃土。作为连接两地的金融纽带，自2022年扎根遂宁以来，泸州银行以"银龄童梦"为经纬，编织全 龄友好的金融服务网络；以"金融赋能"为和弦，奏响"引客入遂"的城市邀约曲，让金融活水滋养遂宁山 水人文，绽放"一老一小"的守护温情，焕发出"近者悦、远者来"的时代魅力。 一老一小：金融服务编织代际温情网 作为遂宁首家上市城商行，泸州银行遂宁分行以第二届"泸小筝"风筝节为契机，融合金融服务与文旅体 验，打造"权益叠加、场景沉浸、安全护航"的引客生态。 活动期间，位于河东新区东平北路的泸州银行遂宁分行外化身"风筝主题公园"，设置"风筝DIY工坊""福 气玲珑骰"等全年龄段互动项目，邀请各地亲子家庭、老年爱好者共赴 "纸鸢之约"，让传统风筝文化在 亲子协作、代际传承中焕发新生。该行还同步联动遂宁本地商户，推出"风筝节专属权益"：餐饮满减、 购物折扣，覆盖"吃住行游购娱"全场景，让实惠贯穿文旅消费始终。此外，活动现场设立的"泸警联动 区"将通过寓教于乐的形式，让严肃的反诈知识化作春风细雨浸润人心。 从银龄客户的适老服务到少年儿童的 ...

Financial Performance - Net interest income for 2024 was RMB 3.52 billion, reflecting a year-on-year growth of 13.94% from RMB 3.09 billion in 2023[12]. - The net profit attributable to shareholders was RMB 1.28 billion, representing a 28.31% increase from RMB 994.24 million in 2023[12]. - Luzhou Bank's operating income for 2024 was RMB 5.21 billion, a 9.20% increase from RMB 4.77 billion in 2023[12]. - Net profit increased by 28.3%, with revenue growth of 9.2%[22]. - Total operating income for 2024 was RMB 5.21 billion, an increase of RMB 439 million, reflecting a growth rate of 9.20%[33]. - The bank's pre-tax profit for 2024 was RMB 1.78 billion, an increase of RMB 534 million, representing a growth of 42.69% compared to the previous year[31]. - The bank's net fee and commission income for 2024 was RMB 173.51 million, up from RMB 102.95 million in 2023[31]. - In 2024, the company's non-interest income reached RMB 1.69 billion, an increase of RMB 0.08 billion, or 0.49% year-over-year[51]. Asset and Liability Management - The total assets of Luzhou Bank reached RMB 170.99 billion, an increase of 8.48% compared to RMB 157.64 billion in 2023[12]. - Customer deposits increased to RMB 135.31 billion, a rise of 15.04% from RMB 117.62 billion in 2023[12]. - Total liabilities amounted to RMB 158.56 billion as of December 31, 2024, an increase of RMB 11.85 billion or 8.08% year-over-year, primarily due to steady growth in customer deposits[78]. - The proportion of deposits to total liabilities increased by 5.16 percentage points to 85.34%[21]. - The average balance of customer deposits in 2024 was RMB 129.917 billion, an increase from RMB 119.811 billion in 2023, with a corresponding average cost rate of 2.61%[48]. Loan and Credit Quality - Customer loans amounted to RMB 98.59 billion, up 11.44% from RMB 88.47 billion in 2023[12]. - The non-performing loan ratio improved to 1.19%, down from 1.35% in 2023[12]. - The bank's total loans classified as non-performing accounted for 85.16% of loans overdue for more than 90 days[25]. - The total loan principal amounted to RMB 103.271 billion, an increase of 11.70% compared to the previous year, with non-performing loans totaling RMB 1.229 billion, a decrease of RMB 0.16 billion[89]. - The non-performing loan ratio was 1.19%, down by 0.16 percentage points from the previous year[89]. - The bank's credit commitments stood at RMB 1.911 billion at the end of the reporting period[86]. Capital Adequacy and Risk Management - Core Tier 1 capital adequacy ratio increased to 8.27% from 8.12% year-on-year, while Tier 1 capital adequacy ratio rose to 10.15% from 9.61%[13]. - The bank's capital adequacy ratio rose to 13.12% from 12.74% year-on-year[13]. - The capital adequacy ratio at the end of the reporting period was 13.12%, an increase of 0.38 percentage points from the previous year, exceeding regulatory requirements by 2.62 percentage points[109]. - The bank's loan loss provisions increased to RMB 5,342,538 thousand by the end of 2024, up from RMB 4,572,916 thousand in 2023[103]. - The bank's provision coverage ratio increased by 62.77 percentage points to 435.19%, enhancing its risk compensation capability[25]. Customer and Market Development - Luzhou Bank was ranked 15th in the "GYROSCOPE" evaluation system for city commercial banks in 2024, with the highest employee awareness capability[10]. - The bank launched over 30 specialized products, with 23 available for online processing, becoming the first in Sichuan to offer online property mortgage loans[19]. - The retail banking customer base increased to 1.4771 million, up by 74,700 customers or 5.33% compared to the end of 2023[143]. - The company launched several innovative financing products, including "Daily Loan C" and "Tax Loan," to meet diverse customer needs[140]. - The bank's gold and precious metals sales reached RMB 3.5307 million, an increase of RMB 1.6721 million or 89.97% compared to 2023[149]. Shareholder Structure and Governance - The total share capital remains unchanged at 2,717,752,062 shares as of December 31, 2024[162]. - The largest shareholder, Luzhou Laojiao Group Co., Ltd., holds 390,528,000 shares, accounting for 14.37% of the total shares[166]. - The top 10 domestic shareholders hold a total of 1,964,632,062 shares, representing approximately 72.34% of the total share capital[166]. - The company has established a dedicated consumer rights protection committee under the board of directors to enhance consumer rights protection efforts[160]. - The company strictly adheres to national laws and regulations, ensuring consumer protection is integrated into all aspects of product design and service delivery[160]. Operational and Compliance Management - The bank has maintained zero significant operational risk events and incidents by the end of the reporting period[112]. - The company conducts regular assessments and training to strengthen compliance culture and risk awareness among employees[114]. - The operational risk management committee is responsible for overseeing the company's operational risk prevention efforts and enhancing the long-term mechanism for risk control[114]. - The company has implemented a robust liquidity risk management governance structure, clearly defining responsibilities across various levels of management[124]. - The bank has implemented a liquidity risk emergency plan, which is regularly tested and evaluated[126].

笔者了解到，通过产品创新和政策组合，泸州银行灵活推出了多款针对小微企业多层次需求的特色贷款 产品。其中，"酒好贷"基于下游经销商的销售回款数据，系统自动生成授信额度，将贷款审批时间从7 天压缩至8小时。这一模式不仅解决了经销商旺季备货的资金缺口，更被复制推广至川内多个白酒产 区。而"白酒原粮贷"针对粮食采购环节设计，通过动态评估原粮库存价值，为供应商提供灵活授信，通 过这样的资金支持，泸州银行成功帮助数家本地粮企入围了当地龙头酒企的核心供应链圈。下一步，该 行将继续探索原酒销售头部企业对供应链增信贷款模式，进一步优化原酒抵押融资体系，提升资产流动 性。 聚焦当地特色产业的同时，泸州银行恪守服务实体经济的初心使命，紧密围绕金融"五篇大文章"优化资 源配置、创新产品服务，提升服务实体经济质效。以普惠小微领域为例，2024年，该行多措并举拓宽资 金来源，降低小微企业融资成本。发行18亿元小微企业贷款专项金融债，使用央行支小再贷款余额62亿 元。在四川第三轮财经政策互动期间（2021至2024年1季度）帮助小微企业申请贴息资金1.93亿元，占 全省贴息资金30.68%，排名四川银行业第1。其普惠型小微贷款余额从202 ...

Core Viewpoint - Luzhou Bank demonstrated steady growth in its 2024 annual report, with both revenue and profit increasing, contributing to local economic development [1][2]. Financial Performance - As of the end of 2024, Luzhou Bank's total assets reached 171 billion yuan, a year-on-year increase of 8.48% [2][4]. - The bank's operating income grew to 5.209 billion yuan, reflecting a 9.20% increase, while net profit reached 1.276 billion yuan, up 28.31% year-on-year, marking two consecutive years of over 20% growth [2][4]. - The net interest margin improved from 2.69% to 2.71%, and the net interest yield increased to 2.49% [2][4]. Asset Quality - Luzhou Bank's non-performing loan (NPL) ratio decreased to 1.19%, outperforming the industry average by 0.57 percentage points [4][5]. - The provision coverage ratio rose to 435.19%, indicating a solid financial cushion [4]. Business Expansion - The total customer loans reached 103.928 billion yuan, with a growth rate of 11.70%, while customer deposits totaled 135.314 billion yuan, up 15.04% [2][5]. - The bank's corporate loan balance increased to 89.636 billion yuan, accounting for 86.25% of total customer loans [6]. Support for SMEs - Luzhou Bank has actively supported over 8,000 small and micro enterprises, with a total loan issuance of 108.605 billion yuan [5][6]. - The bank introduced innovative financial products tailored to the diverse financing needs of small businesses [6]. ESG Initiatives - Luzhou Bank has focused on employee welfare and social contributions, donating 6.5214 million yuan to various charitable causes in 2024 [7]. - The bank has implemented a comprehensive training and promotion system for employees, with 86% of staff holding a bachelor's degree or higher [7]. Dividend Distribution - Since its listing, Luzhou Bank has conducted four cash dividend distributions, with a proposed cash dividend of 1.2 yuan per 10 shares for 2024, totaling approximately 326.13 million yuan [8].