经彭玉龙先生确认，其与本行董事会无不同意见，无其他事项需要通知本行 股东。本行董事会对于彭玉龙先生在任职期间为本行作出的贡献给予高度评价并 致以衷心的感谢！ 证券代码：601077 证券简称：渝农商行 公告编号：2026-004 重庆农村商业银行股份有限公司 关于非执行董事辞任的公告 本行董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 一、董事离任的基本情况 重庆农村商业银行股份有限公司（以下简称"本行"）近日收到本行非执行 董事彭玉龙先生提交的书面辞职信。因个人工作安排，彭玉龙先生辞去本行第五 届董事会非执行董事职务，并不再担任本行董事会提名委员会、消费者权益保护 委员会委员职务。彭玉龙先生的辞任自 2026 年 1 月 23 日起生效。 | 姓名 | 离任职务 | 离任时间 | 离任原因 | 是否继续在本 行及其控股子 | 是否存在未 履行完毕的 | | --- | --- | --- | --- | --- | --- | | | 非执行董事，董 | | | 公司任职 | 公开承诺 | | | 事会提名委员 会、消费者权益 | ...

格隆汇1月23日丨渝农商行(601077.SH)公布，重庆农村商业银行股份有限公司近日收到本行非执行董事 彭玉龙先生提交的书面辞职信。因个人工作安排，彭玉龙先生辞去本行第五届董事会非执行董事职务， 并不再担任本行董事会提名委员会、消费者权益保护委员会委员职务。彭玉龙先生的辞任自2026年1月 23日起生效。 ...

Investment Rating - The report provides a "Buy" rating for all major banks analyzed, indicating a positive outlook for the banking sector [7]. Core Insights - The digital renminbi has entered its 2.0 era, transitioning from a central bank liability (M0) to a commercial bank liability (M1), allowing it to earn interest and be included in deposit insurance and reserve requirements [6][14]. - This transformation positions China as the first economy to offer interest on its central bank digital currency (CBDC), fundamentally altering its monetary attributes and creating a new financial paradigm in the digital economy [27]. - The digital renminbi's interest-bearing feature enhances user motivation to hold it, shifting its perception from a mere payment tool to a viable store of value, thus promoting its integration into everyday financial activities [27][28]. Summary by Sections 1. Digital Renminbi 2.0 Era - The digital renminbi (e-CNY) is now classified as a digital deposit currency, which can earn interest and is managed under a new regulatory framework [14]. - Major state-owned banks have begun offering interest on digital renminbi wallet balances, marking a significant shift in its utility and appeal [14][27]. 2. Development Progress and Application Status - The development of the digital renminbi began in 2014, with significant milestones including pilot tests in various cities and the establishment of a comprehensive operational framework by 2025 [32][33]. - As of November 2025, the digital renminbi has processed 34.8 billion transactions amounting to 16.7 trillion yuan, with extensive coverage across multiple provinces and cities [37]. 3. Global CBDC Development Trends - The report identifies three main trends in global CBDC development: active retail CBDC initiatives, innovation in payment systems, and cautious approaches in some countries like the U.S. [6]. - China's proactive stance in developing its CBDC positions it favorably in the global digital economy landscape, particularly in cross-border trade applications [30].

Group 1 - The banking sector experienced a significant upward movement, with Chengdu Bank rising over 3% [1] - Other banks such as Chongqing Rural Commercial Bank, CITIC Bank, and Changshu Bank saw increases of over 2% [1] - Additionally, Chongqing Bank and Qilu Bank also followed the upward trend [1]

国泰海通证券股份有限公司研究员刘源2025年5月7日发布研报《渝农商行：扩表提速息差阶段性持平》 称，维持渝农商行增持评级。 中国经济网北京1月19日讯渝农商行（601077）(601077.SH)今日股价收报6.15元，跌幅3.15%。 渝农商行2025年6月4日盘中股价一度达到7.79元，为近年最高点。 ...

证券之星消息，1月19日农商行板块较上一交易日下跌0.95%，渝农商行领跌。当日上证指数报收于 4114.0，上涨0.29%。深证成指报收于14294.05，上涨0.09%。农商行板块个股涨跌见下表： | 代码 | 名称 | 主力净流入(元) | 主力净占比 游资净流入 (元) | | 游资净占比 散户净流入(元) | | 散户净占比 | | --- | --- | --- | --- | --- | --- | --- | --- | | 601860 | 紫金银行 | 1307.77万 | 16.61% | -167.29万 | -2.13% | -1140.47万 | -14.49% | | 002958 | 青农商行 | 735.48万 | 8.14% | -1344.11万 | -14.87% | 608.64万 | 6.73% | | 601825 沪农商行 | | 524.07万 | 2.18% | 1490.51万 | 6.21% | -2014.58万 | -8.40% | | 603323 苏农银行 | | 425.82万 | 4.43% | 602.36万 | 6.27% | -1028 ...

Investment Rating - The industry investment rating is "Buy" [3] Core Viewpoints - The report indicates that there is still room for further cuts in reserve requirement ratios and interest rates, with a focus on structural monetary policy support for high-quality economic development [15][19] - The central bank has implemented a reduction of 0.25 percentage points in various structural monetary policy tool rates, signaling a supportive monetary policy stance [15][19] - The report emphasizes the importance of timing for future policy implementations, particularly in relation to government bond issuance peaks and the maturity schedule of high-interest bank deposits [15] Summary by Sections 1. Monetary Policy Adjustments - The report notes a reduction of 0.25 percentage points in structural monetary policy tool rates, with a focus on supporting key areas through increased re-lending [15] - Future attention is directed towards December economic data and January LPR [22] 2. Central Bank Dynamics and Market Rates - The central bank conducted a total of 9,515 billion yuan in 7-day reverse repos at an interest rate of 1.40%, with a net injection of 9,741 billion yuan [16] - The report highlights that the funding rates remained stable, with expectations of slight increases due to tax payments and government bond net repayments [16] 3. Bank Financing Tracking - The report indicates that the total outstanding amount of interbank certificates of deposit (CDs) is 19.09 trillion yuan, with an average issuance rate of 1.65% [20] - The report also notes that there were no commercial bank bond issuances during the period, with a total outstanding commercial bank bond size of 3.38 trillion yuan [20]

Core Insights - Rural financial institutions are transitioning from a "blooming" phase to a "concentration of leading players" phase, with five rural commercial banks exceeding one trillion yuan in assets, accounting for over 11% of total assets in the sector [1][3] - The emergence of provincial-level unified legal person rural commercial banks with assets over 500 billion yuan indicates a trend towards further concentration in the rural financial sector [1][3] - The competitive landscape is shifting from individual institutions to a focus on systemic capabilities, with an emphasis on sustainable, low-risk financial services [1][4] Group 1: Development of Leading Rural Commercial Banks - Chongqing Rural Commercial Bank was the first to exceed one trillion yuan in assets in 2019, followed by Shanghai, Guangzhou, and Beijing Rural Commercial Banks in 2020 [2] - Chengdu Rural Commercial Bank joined the ranks of trillion-yuan banks in early 2026, benefiting from the national strategy of the Chengdu-Chongqing economic circle [3] Group 2: Competitive Landscape Changes - The shift to concentrated operations in rural finance is a necessary response to challenges such as declining efficiency and negative growth in loans and deposits [4] - The competitive focus is moving from scale expansion to efficiency and value, with a layered industry structure emerging that emphasizes targeted resource allocation [4] Group 3: Challenges and Strategies for High-Quality Development - Achieving high-quality development requires a shift from a focus on scale to optimizing structure, especially in a context of narrowing net interest margins [5][6] - Rural commercial banks need to enhance their profitability by optimizing their liability structure and deepening their understanding of local industries and risks [6] Group 4: Risks and Governance Issues - As rural commercial banks grow, they face new challenges related to risk management, capital constraints, and governance complexities [7] - The transition from individual loan risks to structural risks necessitates a more proactive and comprehensive approach to risk management [7]

Group 1 - The agricultural commercial bank sector experienced a decline of 0.64% on January 16, with Yunnan Agricultural Commercial Bank leading the drop [1] - The Shanghai Composite Index closed at 4101.91, down 0.26%, while the Shenzhen Component Index closed at 14281.08, down 0.18% [1] - The trading volume and turnover for various agricultural commercial banks are detailed, with Changshu Bank closing at 6.97, up 0.29%, and Yunnan Agricultural Commercial Bank closing at 6.35, down 1.70% [1] Group 2 - The net outflow of main funds from the agricultural commercial bank sector was 6.1766 million yuan, while retail funds saw a net outflow of 12.6 million yuan [1] - The table shows the net inflow and outflow of funds for individual banks, with notable figures such as 14.69% net inflow for Shanghai Agricultural Commercial Bank from main funds [2] - Jiangyin Bank had a significant net outflow of 30.1445 million yuan from main funds, indicating a 20.35% decrease [2]

Investment Rating - Investment rating: Positive (maintained) [2] Core Viewpoints - In December, corporate credit experienced a seasonal growth, with expectations that the credit issuance in Q1 2026 may reach the highest level in history [4] - The report highlights that while the year-end credit issuance slowed down, the impact of debt reduction policies has weakened, allowing for stable credit growth [4] - The report indicates that the demand for corporate loans has shown signs of recovery, with a year-on-year increase of 5.8 trillion yuan in December, although the overall demand still requires further observation [4] - The report notes that the new issuance rates for corporate and personal housing loans have stabilized at 3.10%, reflecting a shift in bank lending strategies [5][6] Summary by Sections Credit Market Analysis - December saw a new issuance of 910 billion yuan in RMB loans, a year-on-year decrease of 80 billion yuan, with a balance growth rate of 6.4% [4] - The corporate loan structure improved, with short-term and medium-to-long-term loans increasing by 3.9 trillion yuan and 2.9 trillion yuan respectively [4] - The report emphasizes that the overall credit demand from residents remains weak, with a year-on-year decrease of 441.6 billion yuan in December [4] Social Financing and Government Bonds - In December, social financing increased by 2.2 trillion yuan, a year-on-year decrease of 646.2 billion yuan, with a stock growth rate of 8.3% [5] - The slowdown in government bond issuance has been identified as a drag on social financing, with new government bonds issued at 683.3 billion yuan, one of the lowest levels of the year [5] Monetary Supply and Deposits - M2 growth in December was 8.5%, while M1 growth fell to 3.8% [6] - The report notes that the increase in fiscal deposits may indicate a weaker year-end fiscal spending compared to the previous year [6] Investment Recommendations - The report suggests that banks with strong wealth management businesses and active financial environments in key regions will benefit from the stable growth policies [7] - Recommended banks include CITIC Bank, with beneficiaries including Agricultural Bank of China, China Merchants Bank, and others [7]