Core Viewpoint - Postal Savings Bank of China (PSBC) is set to absorb its wholly-owned subsidiary, Postal Huinong Bank, marking the end of the independent legal entity operation model for this direct bank, which was established just over three years ago with a registered capital of 5 billion yuan [1][3]. Company Summary - Postal Huinong Bank was established on January 7, 2022, with a registered capital of 5 billion yuan, fully owned by PSBC, and aimed at serving agriculture, small and micro enterprises, and the general public [3]. - The merger is driven by PSBC's increased investment in financial technology and the establishment of a digital service model primarily through mobile banking, which has significantly enhanced its online service capabilities [3]. - The merger is expected to achieve strategic integration, optimize resource allocation, and reduce management costs, thereby improving overall operational efficiency for PSBC [3]. Industry Summary - The absorption of Postal Huinong Bank signals a turning point in the development cycle of direct banks in China, transitioning from a phase of rapid growth to one of consolidation and exit [1][5]. - The independent legal entity model for direct banks is now left with only one remaining entity, Baixin Bank, as many others face channel integration and closures [5][6]. - The history of direct banks in China shows a peak in development from late 2014 to 2016, followed by a decline characterized by closures and consolidations [5][6]. - The future of independent legal entity direct banks is uncertain, as the industry shifts focus towards differentiated capabilities and specific customer segments rather than maintaining independent operations [7].

Group 1: Company Announcements - Ganli Pharmaceutical signed a technology transfer and supply agreement with FZ and BIOMM, with a total supply framework agreement amount expected to be no less than 3 billion RMB [1] - Upwind New Materials completed the transfer of 121 million shares, changing its controlling shareholder to Zhiyuan Hengyue, associated with Zhiyuan Robotics [2] - Poly Developments plans to publicly issue corporate bonds not exceeding 15 billion RMB for various purposes including debt repayment and project construction [3] Group 2: Shareholder Actions - Lenovo Holdings reduced its stake in Lakala by 8.0781 million shares, decreasing its ownership from 25.00% to 23.97% [4] - Fenghuo Communication plans to repurchase shares with a budget between 75 million and 150 million RMB, with a maximum repurchase price of 40.53 RMB per share [5] - Hualing Cable intends to acquire control of San Bamboo Intelligent for no more than 270 million RMB to enhance its capabilities in robotics and high-frequency transmission [6] Group 3: Market Developments - Guiguang Network clarified that rumors regarding major collaborations with Huawei Cloud and restructuring with state-owned enterprises are untrue [7] - Dongshan Precision is planning to issue H-shares and list on the Hong Kong Stock Exchange to enhance its international presence [8] - Wolong Nuclear Materials' subsidiary plans to invest up to 1 billion RMB in a new materials project in Suzhou [9] Group 4: Other Corporate Activities - Chao Xun Communication's management completed their share reduction plan, with specific shares sold by board members [10] - Various companies are involved in significant project bids and collaborations, including China Electric Research and others [15]

Core Viewpoint - Postal Savings Bank of China (PSBC) announced the absorption and merger of its wholly-owned subsidiary, Postal Savings Bank Huinong Bank, which will lead to the cancellation of the latter's independent legal status and the transfer of all its business, assets, and obligations to PSBC [1] Group 1: Merger Details - The merger has been approved by PSBC's board and requires shareholder meeting approval and regulatory approval from the National Financial Regulatory Administration [1] - The merger does not constitute a related party transaction or a major asset restructuring and will not materially affect PSBC's financial status or operating results [1] Group 2: Industry Context - The merger reflects a broader trend in the banking industry towards digital transformation, with at least 19 banks, including Minsheng Bank and Hankou Bank, integrating direct banking services in recent years [1][2] - Direct banks were initially established to provide online services without physical branches, but their independent value has diminished due to challenges such as product homogeneity and high customer acquisition costs [2] Group 3: Strategic Benefits - The merger is expected to optimize PSBC's management and business structure, enhance digital transformation outcomes, improve operational efficiency, and reduce management costs [3] - By integrating the talent and experience from Postal Savings Bank Huinong Bank, PSBC aims to strengthen its online business and create a synergistic effect [3] Group 4: Digital Transformation Initiatives - PSBC plans to leverage the merger to advance its digital transformation by enhancing its technological capabilities, improving business management, and strengthening risk control systems [3][4] - The bank aims to reshape customer experience across all channels and products while achieving cost reduction and efficiency improvements in internal management [4]

Group 1: Core Insights - The trend of offering bicycles as incentives for credit card applications is gaining popularity in the financial sector, particularly in Beijing [1][5][14] - This promotional strategy involves multiple banks collaborating to attract new customers by providing bicycles of varying values in exchange for signing up for multiple credit cards [4][8][12] - The promotional events have seen a significant turnout, although there are concerns regarding the quality of the bicycles and the potential for excessive credit card issuance [1][12][14] Group 2: Promotional Details - Customers can receive bicycles by applying for a minimum number of credit cards, with higher-value bicycles requiring more applications; for example, a bicycle worth over 2000 yuan requires the application of 10 credit cards [4][5][11] - The promotional events are time-limited, running from September 5 to October 4, with a total of 10,000 bicycles available [5][12] - Participating banks include major institutions such as the Bank of Communications, Postal Savings Bank, and others, with staff present at the events to assist new applicants [8][12] Group 3: Market Context - The credit card business is under pressure, with a decline in the number of active credit cards and transaction volumes reported by several banks [14][15] - The People's Bank of China reported a decrease of 6 million credit cards in the second quarter of 2025, marking a continuous decline over 11 quarters [14][15] - Banks are encouraged to adapt their strategies, focusing on customer engagement and innovative product offerings to enhance credit card usage and profitability [16]

Group 1 - The core viewpoint of the article highlights the trend of banks shutting down or consolidating their direct banking operations, with Postal Savings Bank of China announcing the absorption and merger of its wholly-owned subsidiary, Postal Bank of China Huinong Bank [1][2] - The merger is part of a broader trend in the banking industry towards digital transformation, where banks are enhancing their digital and centralized capabilities, primarily through mobile banking as the main service channel [2] - The independent value of direct banks has significantly diminished compared to the increasingly powerful mobile banking services, leading to challenges such as product homogeneity and high customer acquisition costs [2] Group 2 - The merger will not impact Postal Savings Bank's financial status or operating results, as Huinong Bank's financials were already fully consolidated into Postal Savings Bank's reports [3] - The long-term effect on Postal Savings Bank's performance is expected to be minimal, as the loans and deposits from Huinong Bank are relatively small and will not be renewed after their natural maturity [3] - The consolidation is aimed at optimizing management and business structure, enhancing digital transformation outcomes, and reducing operational costs [2]

Core Viewpoint - Postal Savings Bank of China (PSBC) announced the absorption and merger of its wholly-owned subsidiary, Postal Huinong Bank, to optimize management and business structure [2][4]. Group 1: Merger Details - The merger will result in PSBC inheriting all business, assets, debts, and rights of Postal Huinong Bank, which will cease to exist as an independent legal entity [4][5]. - The merger aims to achieve strategic integration, optimize resource allocation, and reduce management costs [5][6]. - The board of PSBC has approved the merger proposal, which will be submitted for shareholder approval and requires approval from the National Financial Regulatory Administration [5][6]. Group 2: Digital Transformation and Industry Context - PSBC has significantly increased its investment in financial technology, enhancing its digital and centralized capabilities, with mobile banking becoming the primary service channel [5][7]. - Postal Huinong Bank, established in January 2022 with a registered capital of 5 billion RMB, was designed as a platform for digital transformation and financial services for rural revitalization [7][8]. - The banking industry is witnessing a trend of digital transformation, moving from multiple experimental models to comprehensive integration, indicating a shift from extensive channel expansion to refined ecological development [8].

Group 1 - Postal Savings Bank of China (PSBC) announced the absorption and merger of its wholly-owned subsidiary, Postal Savings Bank Huinong Bank, to optimize management and business structure [1][3] - The merger will allow PSBC to inherit all business, assets, debts, and rights and obligations of Huinong Bank, aligning with PSBC's long-term strategic planning [3][5] - The merger aims to achieve strategic integration, optimize resource allocation, and reduce management costs, enhancing PSBC's online business capabilities and operational efficiency [4][5] Group 2 - Huinong Bank, established on January 7, 2022, with a registered capital of 5 billion RMB, has been a key player in PSBC's digital transformation efforts, focusing on serving rural areas and small enterprises [7] - As of June 2025, Huinong Bank had total assets of 12 billion RMB and over 20 million registered users, indicating its significant role in the digital banking landscape [7] - The adjustment by PSBC reflects a broader trend in the banking industry, where many banks are integrating their digital financial subsidiaries, marking a shift from initial experimentation to comprehensive integration [8]

Core Viewpoint - The merger of Postal Savings Bank of China (PSBC) and Youhui Wanjia Bank aims to enhance strategic integration, optimize resource allocation, and reduce management costs, while ensuring that existing customer rights and obligations remain unaffected [3][4][5]. Group 1: Merger Details - Youhui Wanjia Bank's independent legal status will be canceled post-merger, with all its business, assets, debts, and rights transferred to PSBC, ensuring customer contracts remain valid [3]. - Youhui Wanjia Bank was established in January 2022 with a registered capital of 5 billion yuan, and by June 2025, it had assets of 12 billion yuan, deposits of 7.2 billion yuan, and 16.45 million customers [3]. - The merger will not materially impact PSBC's financial status or operational results, nor will it harm the interests of its shareholders [3][6]. Group 2: Reasons for the Merger - The merger aligns with PSBC's long-term strategic planning, focusing on integrating Youhui Wanjia Bank's online advantages to address the limitations of physical branch coverage and high costs of offline retail financial services [4]. - By merging, PSBC can leverage Youhui Wanjia Bank's expertise in internet finance and enhance its overall operational efficiency [4][5]. Group 3: Financial Impact - The merger will have minimal impact on PSBC's financial statements since Youhui Wanjia Bank is a wholly-owned subsidiary [6][7]. - The merger will not change the economic resources controlled by PSBC, and the individual asset and liability statements will reflect the integration of Youhui Wanjia Bank's assets and liabilities [7]. Group 4: Customer and Business Transition - Existing customers of Youhui Wanjia Bank will transition smoothly to PSBC, with personal loans being gradually phased out and managed by PSBC's Shanghai branch [8]. - All personal accounts, deposits, and payment services will be migrated to PSBC to ensure stable operations and effective resource integration [8]. - PSBC will take over the management of all wealth management products previously offered by Youhui Wanjia Bank, ensuring that customer experiences remain unaffected during the transition [8][9]. Group 5: Capital Adequacy and Digital Transformation - The merger will not affect PSBC's capital adequacy at the group level, and the capital adequacy ratio may slightly improve at the legal entity level due to lower capital consumption from the subsidiary [10]. - PSBC is committed to enhancing its digital transformation by improving technological capabilities, optimizing business management, and strengthening risk control systems [11].

（编辑 楚丽君） 证券日报网讯 9月23日晚间，邮储银行发布公告称，中国邮政储蓄银行股份有限公司（以下简称本行） 监事长、股东代表监事陈跃军先生因达到法定退休年龄，向本行监事会提交辞呈，辞去本行监事长、股 东代表监事职务。该辞任自2025年9月23日起生效。 ...

邮储银行（601658）(01658)发布公告，该行监事长、股东代表监事陈跃军因达到法定退休年龄，向该 行监事会提交辞呈，辞去该行监事长、股东代表监事职务。该辞任自2025年9月23日起生效。 ...