Group 1 - The People's Bank of China will conduct a 700 billion yuan reverse repurchase operation on November 5, 2025, to maintain ample liquidity in the banking system, with a term of 3 months (91 days) [1] - This operation will offset the maturity of 700 billion yuan in 3-month reverse repos due this month, along with 300 billion yuan in 6-month reverse repos and 900 billion yuan in Medium-term Lending Facility (MLF) due [1] - The central bank has primarily used reverse repos and MLF operations for medium to long-term liquidity supply this year [1] Group 2 - Following the Federal Reserve's decision to lower the federal funds rate target range by 25 basis points to between 3.75% and 4%, bank dollar deposit rates have adjusted downwards to around 3% [2] - There is a high probability that dollar deposit rates may enter the "2% range" by the end of the year, although the specific adjustment pace and magnitude will depend on individual bank strategies, Federal Reserve policies, and market conditions [2] - Investors are advised to rationally assess the returns on dollar deposits against exchange rate risks to avoid blind allocation [2] Group 3 - Su Nong Bank announced the resignation of its director and president, Zhuang Yingjie, due to work changes, effective upon the delivery of his resignation report to the board [3] - Zhuang Yingjie has completed all necessary handover procedures and has no outstanding public commitments or disagreements with the board [3] Group 4 - WeChat Pay has launched an AI menu recognition feature for small and medium-sized merchants, allowing them to upload photos of their menus for automatic content recognition and payment generation [4] - This innovation aims to enhance operational efficiency for merchants and improve customer experience, potentially attracting more users to WeChat Pay [4]

Group 1 - The resignation of the bank's president, Zhuang Yingjie, was due to work changes, and it will not affect the normal operation of the board or the bank's management [2][4] - Zhuang Yingjie confirmed that there are no outstanding commitments and has completed the handover process [2][4] - The board expressed gratitude for Zhuang Yingjie's contributions during his tenure [2] Group 2 - The bank's board appointed Wang Liang as the new president, with a term aligned with the current board's term [7][9] - Wang Liang's qualifications are pending approval from the national financial regulatory authority, and he will act as president until approval is granted, for a maximum of six months [9] - The board also appointed Fei Haibin and Geng Zhi as vice presidents, both pending regulatory approval [10][14][13][17] Group 3 - The board's resolutions were passed unanimously with 11 votes in favor and no abstentions or oppositions [5][12][15] - The board will hold the second temporary shareholders' meeting on November 20, 2025, to discuss various proposals [23][29] - The meeting will utilize both on-site and online voting methods for shareholders [26][30]

庄颖杰2017年8月开始担任苏农银行的行长职务，至今已有八年多时间。简历显示，庄颖杰是1975年11月出生，江苏吴江人，本科学历，高级经济 师，中共党员。1992年11月参加工作，在任苏农银行行长之前，他历任八都农村信用社记账员；吴江农村信用联社财务科办事员；吴江农村信用联 社营业部大发分社主办会计；八坼农村信用社副主任；松陵农村信用社副主任；吴江农村商业银行国际业务部副主任，主任，桃源支行行长；吴江 农村商业银行党委委员，副行长，党委副书记，行长。 【导读】苏农银行行长庄颖杰因工作变动原因离任，1982年出生的王亮获聘该行新任行长 11月4日晚间，资产总计约2300亿元的苏农银行披露，行长庄颖杰因工作变动原因离任。苏农银行董事会聘任1982年出生的王亮担任新任行长，王亮 曾任扬州农村商业银行副行长、江南农村商业银行副行长。 | 姓名 | 离任 | 离任时间 | 原定任期到期日 | 离任原因 | 是否继续在 | 是否存在 未履行完 | | --- | --- | --- | --- | --- | --- | --- | | | | | | | 上市公司及 | | | | 問各 | | | | 其控股子公 | ...

Core Viewpoint - SuNong Bank announced the resignation of its president, Zhuang Yingjie, due to work changes, and appointed Wang Liang as the new president, who has extensive experience in the banking sector [1][4][5]. Group 1: Leadership Changes - Zhuang Yingjie submitted his resignation as president and board member of SuNong Bank, effective October 31, 2023, and will not continue in any roles within the bank or its subsidiaries [3][4]. - Wang Liang, born in 1982, has been appointed as the new president of SuNong Bank. He previously held various positions in different banks, including deputy president at Yangzhou Rural Commercial Bank and Jiangnan Rural Commercial Bank [1][5][6]. Group 2: Contributions and Background - Zhuang Yingjie served as president of SuNong Bank since August 2017, contributing significantly to the bank's sustainable development through his extensive financial experience and management skills [4]. - Wang Liang holds a graduate degree and has worked in several banks, including positions at CITIC Bank and SuNong Bank, prior to his appointment as president [5]. Group 3: Market Reaction - Following the announcement of the leadership change, SuNong Bank's stock price increased by 1.73%, closing at 5.30 yuan, with a total market capitalization of approximately 10.7 billion yuan [7][8].

【导读】苏农银行行长庄颖杰因工作变动原因离任， 1982 年出生的王亮获聘该行新任行长 中国基金报记者 江右 | 姓名 | 离任 | 离任时间 | 原定任期到期日 | 离任原因 | 是否继续在 上市公司及 | 是否存在 未履行完 | | --- | --- | --- | --- | --- | --- | --- | | | 服务 | | | | 其控股子公 | 毕的公开 | | | | | | | 司任职 | 承诺 | | 庄颖杰 | 臺南 | 2025年10月31日 | 2026年12月27日 | 工作变动 | 合 | 合 | | | 行长 | 2025年10月31日 | 2026年12月27日 | 工作变动 | 合 | 否 | 苏农银行表示，近日，该行董事会收到董事、行长庄颖杰先生提交的书面辞职报告。庄颖杰 由于工作变动原因，申请辞去该行董事及董事会专门委员会相关职务、行长职务。庄颖杰的 离任时间为 10 月 31 日，离任后不再继续在苏农银行及该行控股子公司任职。 苏农银行对庄颖杰的贡献表示衷心感谢。 " 庄颖杰先生在本行任职期间，始终以高度的责任 担当恪守岗位职责，以勤勉务实的工作态度统筹全行经营 ...

Investment Rating - The report maintains a positive outlook on the banking sector, indicating a potential return to a valuation of 1 times net asset value [4][7]. Core Insights - The banking sector has demonstrated steady performance, with a year-to-date revenue growth of 0.8% and a net profit growth of 1.5% for the first nine months of 2025, reflecting a stable regulatory environment supporting bank profitability [10][14]. - The report highlights a shift in focus from scale to balance in credit growth, with banks increasingly pursuing a "quantity-price balance" strategy [4][7]. - The cost of liabilities has improved more significantly than the decline in asset pricing, leading to a stabilization of net interest margins, which is expected to continue into the next year [4][7]. - Asset quality remains stable but shows signs of divergence, particularly with rising risks in small and micro businesses [4][7]. - The report suggests that the current dividend yield of the banking sector has returned to an attractive range, indicating a significant disconnect between stable earnings and stock holdings, which could lead to a value recovery [4][7]. Summary by Sections Performance Overview - The banking sector's performance has been characterized by a steady increase in revenue and profit, with state-owned banks showing better-than-expected stability and regional banks leading in performance [11][12][15]. - The report notes that the revenue growth of state-owned banks has turned positive, with non-interest income contributing significantly to this growth [12][15]. Credit Growth and Strategy - The report indicates a gradual abandonment of scale-driven growth, with banks focusing on achieving a balance between volume and pricing in their lending practices [4][7]. - The credit growth rate for listed banks decreased by 0.3 percentage points to 7.7% in Q3 2025, with state-owned banks maintaining a growth rate of approximately 8.5% [4][7]. Profitability and Asset Quality - The net interest margin for listed banks remained stable at 1.5%, with a slight quarter-on-quarter increase of 3 basis points in Q3 2025 [4][7]. - The overall non-performing loan ratio remained stable at 1.22%, indicating manageable risk levels across the sector [4][7]. Investment Recommendations - The report recommends focusing on leading banks and undervalued regional banks as key investment opportunities, suggesting that the recovery in valuations is supported by stable earnings and attractive dividend yields [4][7].

（编辑 姚尧） 证券日报网讯 11月4日晚间，苏农银行发布公告称，近日，本行董事会收到董事、行长庄颖杰先生提交 的书面辞职报告。庄颖杰先生由于工作变动原因，申请辞去本行董事及董事会专门委员会相关职务、行 长职务。 ...

Core Points - Suzhou Rural Commercial Bank announced the resignation of its president, Zhuang Yingjie, due to work changes, and appointed Wang Liang as the new president [1] - The bank's board also approved the appointment of Fei Haibin and Geng Zhi as vice presidents, with their terms aligned with the current board's term [1] Group 1: Management Changes - Zhuang Yingjie submitted a resignation report to the board, leading to his departure from the roles of director and president [1] - Wang Liang, born in February 1982, has extensive experience in various roles within the banking sector, including positions at CITIC Bank and Jiangnan Rural Commercial Bank, and is currently the deputy secretary of the party committee at Suzhou Rural Commercial Bank [2] - Fei Haibin, born in July 1986, and Geng Zhi, born in April 1985, have been appointed as vice presidents, both having significant experience in the banking industry [3][3] Group 2: Regulatory Approval - The qualifications of the newly appointed management team are subject to approval by the national financial regulatory authority [4]

证券代码：603323 证券简称：苏农银行 公告编号：2025-038 江苏苏州农村商业银行股份有限公司 关于公司董事、行长离任的公告 二、离任对公司的影响 庄颖杰先生的离任不会导致本行董事会成员低于法定人数，不会影响本行董 事会的正常运作及经营管理的正常运行。庄颖杰先生的辞任申请自辞职报告送达 本行董事会时生效。 截至本公告披露日，庄颖杰先生不存在未履行完毕的公开承诺。庄颖杰先生 确认与本行董事会无不同意见，亦无因辞职需知会本行股东及债权人的任何事项。 庄颖杰先生已按照本行相关规定做好交接工作。 庄颖杰先生在本行任职期间，始终以高度的责任担当恪守岗位职责，以勤勉 务实的工作态度统筹全行经营工作，他凭借丰富的金融从业经验与深厚的管理素 养，为本行的高质量可持续发展发挥了积极作用，本行及董事会对庄颖杰先生在 任职期间所做的贡献表示衷心感谢。 特此公告。 江苏苏州农村商业银行股份有限公司董事会 2025 年 11 月 5 日 江苏苏州农村商业银行股份有限公司(以下简称"本行"或"公司")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。 ...

证券代码：603323 证券简称：苏农银行 公告编号：2025-040 江苏苏州农村商业银行股份有限公司 关于召开2025年第二次临时股东会的通知 江苏苏州农村商业银行股份有限公司（以下简称"本行"或"公司"）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。 重要内容提示： 一、 召开会议的基本情况 2025年第二次临时股东会 (二) 股东会召集人 董事会 (三) 投票方式 本次股东会所采用的表决方式是现场投票和网络投票相结合的方式 (四) 现场会议召开的日期、时间和地点 召开的日期时间：2025 年 11 月 20 日 14 点 30 分 召开地点：江苏省苏州市吴江区东太湖大道 10888 号 5 楼报告厅 (五) 网络投票的系统、起止日期和投票时间 网络投票系统：上海证券交易所股东会网络投票系统 (一) 股东会类型和届次 网络投票起止时间：自2025 年 11 月 20 日 至2025 年 11 月 20 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股 股东会召开日期：2025年11月20日 本次股东会采 ...