Core Viewpoint - Zhejiang Zheshang Bank announced the appointment of Chen Haiqiang as the Party Secretary and nominated him as the Chairman of the bank, following a decision by the Zhejiang Provincial Committee of the Communist Party of China [1] Group 1 - Chen Haiqiang has been appointed as the Party Secretary of Zhejiang Zheshang Bank [1] - Chen Haiqiang has been nominated to serve as the Chairman of Zhejiang Zheshang Bank [1]

Group 1 - Chen Haiqiang has been nominated as the chairman of Zhejiang Commercial Bank after serving as acting chairman for four months [1][3] - The announcement was made on November 17, following a decision by the Zhejiang Provincial Committee of the Communist Party of China [1] - The bank's board will complete the election process for the chairman in accordance with legal procedures [1] Group 2 - Chen Haiqiang, born in October 1974, holds a master's degree and is a senior economist [3] - He has held various positions in financial institutions, including the National Development Bank and China Merchants Bank, before joining Zhejiang Commercial Bank in 2015 [3] - He has served in multiple roles within Zhejiang Commercial Bank, including Chief Risk Officer and Deputy President [3] Group 3 - As of the end of September 2023, Zhejiang Commercial Bank reported total assets of 3.39 trillion yuan, a year-on-year increase of 1.91% [4] - The bank achieved operating income of 48.931 billion yuan and a net profit attributable to shareholders of 11.668 billion yuan during the reporting period [4] - The asset quality has improved, with a non-performing loan ratio of 1.36%, down by 0.02 percentage points from the end of the previous year [4]

Core Viewpoint - Zhejiang Commercial Bank has appointed Chen Haiqiang as the new chairman after a four-month vacancy following the resignation of the previous chairman, Lu Jianqiang, due to age [1][3]. Group 1: Leadership Transition - Chen Haiqiang has been promoted from within the bank, marking a significant shift as he is the first internally promoted chairman since the bank's establishment [3]. - Prior to his appointment, Chen served in various roles within the bank, including as the Chief Risk Officer and Deputy President, showcasing his extensive experience and understanding of the bank's operations [1][3]. Group 2: Strategic Adjustments - The bank is currently undergoing a strategic adjustment, focusing on quality over scale, with an emphasis on low-risk and balanced returns [5]. - Chen Haiqiang has acknowledged the challenge of maintaining high-quality development in a low-interest-rate environment, indicating a proactive approach to the bank's future [5]. Group 3: Financial Performance - As of September 30, the bank's total assets reached 3.39 trillion yuan, reflecting a year-on-year increase of 1.91% [5]. - The bank reported a total revenue of 48.93 billion yuan for the first nine months of 2025, with a net profit attributable to shareholders of 11.67 billion yuan, representing declines of 6.78% and 9.59% respectively [6]. - The bank's non-performing loan ratio stood at 1.36%, a slight decrease from the previous year, indicating improved asset quality [7].

Core Viewpoint - The appointment of Chen Haiqiang as the new chairman of Zhejiang Commercial Bank marks a significant internal promotion, being the first in nearly a decade, which is expected to enhance strategic stability and motivate internal talent [1][3]. Group 1: Leadership Changes - Chen Haiqiang has been appointed as the Party Secretary and is nominated to be the chairman of Zhejiang Commercial Bank, following the resignation of the previous chairman, Lu Jianqiang [1]. - Chen Haiqiang has extensive experience within the bank, having served in various key positions, including as the head of two major branches and as the Chief Risk Officer [3]. Group 2: Strategic Direction - Zhejiang Commercial Bank is currently undergoing a strategic adjustment, emphasizing quality over scale, with a focus on sustainable growth in a low-interest-rate environment [4]. - The bank aims to maintain a strong risk management framework, prioritizing risk, compliance, and integrity while expanding its operational boundaries safely [5]. Group 3: Financial Performance - As of the end of September, Zhejiang Commercial Bank reported total assets of 3.39 trillion yuan, a year-on-year increase of 1.91% [5]. - The bank achieved operating income of 48.931 billion yuan and a net profit attributable to shareholders of 11.668 billion yuan, with an improved non-performing loan ratio of 1.36%, down by 0.02 percentage points from the previous year [5].

Core Viewpoint - The appointment of Chen Haiqiang as the new chairman of Zhejiang Commercial Bank is expected to enhance the bank's strategic stability and long-term value during a critical period of development [1][4][5]. Leadership Transition - Chen Haiqiang has been appointed as the party secretary and nominated as the chairman of Zhejiang Commercial Bank after a four-month vacancy following the resignation of the previous chairman, Lu Jianqiang [1][3][4]. - Chen has extensive experience in the financial industry, having joined Zhejiang Commercial Bank in 2015 and held various leadership positions, including vice president and party deputy secretary [5][7]. Strategic Focus - Chen emphasizes a "long-termism" approach, advocating for sustainable growth over short-term gains. He has outlined three key adjustments in the bank's operations: prioritizing quality over scale, focusing on low-risk and balanced returns, and shifting from single-item revenue to comprehensive revenue through scenario-based strategies [8][10]. - The bank aims to avoid the pitfalls of prioritizing scale and short-term profits, instead focusing on long-term value creation [8][10]. Financial Performance - As of the end of September, Zhejiang Commercial Bank reported total assets of 3.39 trillion yuan, with a net profit of 11.67 billion yuan for the first three quarters of the year, indicating stable fundamentals [10][11]. - The bank's non-performing loan ratio improved to 1.36%, down 0.02 percentage points from the beginning of the year, reflecting a positive trend in asset quality [11]. Shareholder Dynamics - The number of ordinary shareholders has decreased for eight consecutive quarters, suggesting a concentration of shareholding [12]. - In August, Minsheng Insurance increased its stake in the bank's H-shares, which now exceed 5% of the total H-share capital, indicating growing interest from institutional investors [13].

Core Viewpoint - The appointment of Chen Haiqiang as the new chairman of Zhejiang Commercial Bank marks a significant internal promotion, reflecting the bank's strategic focus on stability and internal talent development [1][3][4] Group 1: Leadership Changes - Chen Haiqiang has been appointed as the party secretary and nominated as the chairman of Zhejiang Commercial Bank, following the resignation of the former chairman, Lu Jianqiang [1] - This is the first time in nearly a decade that the bank has appointed a chairman from within its ranks, emphasizing the importance of internal talent [3] Group 2: Background of Chen Haiqiang - Chen Haiqiang has over 30 years of banking experience, having started his career in 1995 at Industrial and Commercial Bank of China and joining Zhejiang Commercial Bank in 2015 [3] - He has held various significant positions within the bank, including president of two major branches and chief risk officer, showcasing his extensive operational and management experience [3] Group 3: Strategic Direction - The bank is currently undergoing a strategic adjustment, focusing on high-quality development rather than rapid growth, as stated in its mid-year performance briefing [4] - Chen Haiqiang emphasized the importance of risk management, stating that the bank will not compromise on risk control for the sake of growth [4] Group 4: Financial Performance - As of the end of September, Zhejiang Commercial Bank reported total assets of 3.39 trillion yuan, a 1.91% increase from the end of the previous year [4] - The bank achieved operating income of 48.931 billion yuan and a net profit attributable to shareholders of 11.668 billion yuan, with an improved non-performing loan ratio of 1.36%, down by 0.02 percentage points from the end of the previous year [4]

Group 1 - Chen Haiqiang has been nominated as the chairman of Zhejiang Commercial Bank after serving as acting chairman for four months [1] - The announcement was made on November 17, following a decision by the Zhejiang Provincial Committee of the Communist Party of China [1] - The bank's board will complete the election process for the new chairman as per legal procedures [1] Group 2 - Chen Haiqiang, born in October 1974, holds a master's degree and is a senior economist [3] - His previous roles include positions at the National Development Bank and various leadership roles at Zhejiang Commercial Bank since joining in 2015 [3] - He has served as the acting chairman since July, following the resignation of Lu Jianqiang due to age [3] Group 3 - As of the end of September 2023, Zhejiang Commercial Bank reported total assets of 3.39 trillion yuan, a year-on-year increase of 1.91% [4] - The bank achieved operating income of 48.931 billion yuan and a net profit attributable to shareholders of 11.668 billion yuan during the reporting period [4] - The asset quality has improved, with a non-performing loan ratio of 1.36%, down by 0.02 percentage points from the end of the previous year [4]

Group 1 - Chen Haiqiang has been appointed as the Party Secretary and nominated as the Chairman of Zhejiang Zheshang Bank [1][2] - Chen Haiqiang has a background in banking, having held various positions at China Development Bank and China Merchants Bank before joining Zhejiang Zheshang Bank in 2015 [1][2] - He was promoted to Vice President of the bank in July 2020 and became the Chief Risk Officer in 2021, later appointed as President in April 2023 [2] Group 2 - As of the end of Q3, Zhejiang Zheshang Bank's total assets reached 3.39 trillion yuan, an increase of 1.91% compared to the end of the previous year [2] - The non-performing loan ratio stands at 1.36%, a decrease of 0.02 percentage points from the end of the previous year [2] - For the first three quarters, the bank reported operating income of 48.931 billion yuan and a net profit attributable to shareholders of 11.668 billion yuan [2]

Core Viewpoint - Chen Haiqiang has been appointed as the Party Secretary and nominated as the Chairman of Zheshang Bank, marking a significant internal promotion within the bank's leadership structure [1][4]. Group 1: Leadership Changes - Chen Haiqiang's appointment comes just four months after he officially took over as the President of Zheshang Bank [3]. - The bank's board will expedite the election process for the Chairman position following Chen's nomination [2]. - Chen is the first Chairman of Zheshang Bank to be promoted from within the organization since its establishment, contrasting with previous Chairmen who were externally appointed [4]. Group 2: Chen Haiqiang's Background - Chen has extensive experience in state-owned commercial banks, having started his career at Industrial and Commercial Bank of China in 1995 and later joining China Merchants Bank [5]. - He has held various positions at Zheshang Bank, including President of the Ningbo Branch and Chief Risk Officer, before becoming the President [5]. Group 3: Bank Performance and Strategy - As of the third quarter, Zheshang Bank's total assets reached 3.39 trillion yuan, a 1.91% increase from the beginning of the year, with a non-performing loan ratio of 1.36%, which is still considered relatively poor among peer banks [5][6]. - The bank reported a revenue of 48.931 billion yuan and a net profit attributable to shareholders of 11.668 billion yuan, both showing declines of 6.78% and 9.59% year-on-year, respectively [5]. - Chen has emphasized a strategic shift towards "smart management," focusing on transforming the bank's operations from asset-driven to liability-driven, and moving towards a lower-risk, stable-return asset structure [5].

Core Viewpoint - Zhejiang Zheshang Bank has appointed Chen Haiqiang as the new chairman, which is expected to lead to stable development and strategic continuity for the bank [1][3][4]. Group 1: Leadership Changes - Chen Haiqiang has been nominated as the chairman of Zhejiang Zheshang Bank following the retirement of the previous chairman, Lu Jianqiang [1][3]. - Chen has extensive experience in the banking sector, having held various positions within Zhejiang Zheshang Bank since joining in 2015, including roles as president and executive director [4][3]. - The internal promotion of Chen is seen as beneficial for maintaining strategic stability and fostering a culture of talent recognition within the bank [4][3]. Group 2: Business Strategy and Performance - Since 2025, Zhejiang Zheshang Bank has adopted a long-term approach, focusing on "quality first" and moving away from a "scale obsession" to a model that emphasizes "low risk and balanced returns" [5]. - As of the end of Q3 2025, the bank's total assets reached 3.39 trillion yuan, reflecting a 1.91% increase from the previous year, indicating a cautious yet high-quality growth strategy [6]. - The bank reported operating income of 48.931 billion yuan and a net profit attributable to shareholders of 11.668 billion yuan, with net interest income accounting for 70.4% of total income [6]. - The non-performing loan ratio improved to 1.36%, down by 0.02 percentage points from the end of the previous year, showcasing enhanced asset quality management [6].