Core Insights - The overall asset quality of city commercial banks in A-shares has improved, with a notable decrease in non-performing loan (NPL) ratios, particularly in the southeastern coastal region compared to the central and western regions [2][3][6] - Despite the overall decline in NPL ratios, there is a significant increase in personal loan NPL ratios, indicating a shift in the quality of loan portfolios [2][6][8] - The pressure on net interest margins is expected to increase in 2025, leading to greater provisioning pressures for city commercial banks [2][9] Summary by Category Asset Quality - As of the end of 2024, the NPL ratio for A-share listed city commercial banks was reported at 1.7% or higher for three banks, namely Lanzhou Bank and Zhengzhou Bank, which exceeded the national average NPL ratio of 1.76% [3][4] - A total of 11 out of 17 listed city commercial banks reported a decrease in NPL ratios, while three banks saw their ratios remain stable and three experienced increases [4][6] Regional Differences - City commercial banks in the southeastern coastal regions generally reported lower NPL ratios, with most banks maintaining ratios below 1% [5][6] - In contrast, banks in the western regions, such as Lanzhou Bank and Zhengzhou Bank, reported higher NPL ratios, indicating a stark contrast in asset quality between regions [3][5] Loan Types - The NPL ratio for corporate loans has generally decreased across the majority of city commercial banks, with significant reductions noted for Chongqing Bank and Qilu Bank [7][8] - Conversely, personal loan NPL ratios have increased for most banks, with several banks reporting ratios of 2% or higher, highlighting a growing concern in this segment [8][9] Asset Disposal Challenges - The methods employed by banks for disposing of non-performing assets include collection, restructuring, write-offs, and asset transfers, with retail loans posing higher costs for collection due to their smaller, more dispersed nature [9] - The current environment suggests that city commercial banks will face significant provisioning pressures due to the high costs associated with disposing of personal non-performing loans and the immature state of bulk disposal methods for retail loans [9]

Core Insights - Lanzhou Bank reported a revenue of 2.037 billion yuan for Q1 2025, a year-on-year increase of 3.26%, and a net profit of 559 million yuan, up 2.36% from the previous year [1] - The bank's total assets exceeded 490 billion yuan, reaching 492.69 billion yuan, with a growth of 1.32% since the beginning of the year [1] - The bank's loan issuance increased by 7.18% to 262.99 billion yuan, marking the largest growth in five years [1] Financial Performance - The bank's investment income showed significant growth, and asset quality was well-managed, with a non-performing loan ratio of 1.81%, down 0.02 percentage points from the beginning of the year [1] - The provision coverage ratio stood at 200.16%, and the cost-to-income ratio was 29.67% [1] Business Strategy - The bank is focusing on key areas such as private enterprises, major projects, real estate, and syndicate mergers and acquisitions to drive growth [2] - Efforts are being made to optimize deposit structures and manage interest rates to reduce costs [2] Corporate Banking - The bank supported 473 technology enterprises with a loan balance of 15.786 billion yuan, an increase of 29.62% since the beginning of the year [2] - Green loan balance reached 15.531 billion yuan, with a net increase of 3.13 billion yuan, reflecting a growth of 2.06% [2] Retail Banking - The total financial assets of personal customers reached 296.73 billion yuan, with an increase of 1.73% since the beginning of the year [3] - The bank launched various marketing activities to boost personal loans, resulting in a new mortgage issuance of 1.004 billion yuan [3] Inclusive Finance - The balance of inclusive small and micro loans was 14.698 billion yuan, with a growth rate of 6.55% [4] - The average interest rate for inclusive small and micro loans decreased by 44 basis points to 4.65% [4]

Core Viewpoint - Lanzhou Bank reported stable financial performance in 2024, with a slight increase in net profit and a solid asset quality, while focusing on enhancing operational efficiency and supporting local economic development [1][2][3]. Financial Performance - In 2024, Lanzhou Bank achieved total operating income of 7.854 billion yuan and net profit attributable to shareholders of 1.888 billion yuan, representing a year-on-year growth of 1.29% and 0.56% respectively [1]. - The bank's total assets reached 486.285 billion yuan, a year-on-year increase of 7.25%, with total loans and advances amounting to 245.369 billion yuan, up 3.07% [1]. - The non-performing loan ratio stood at 1.83%, with a provision coverage ratio of 201.6%, reflecting a 4.09 percentage point increase from the beginning of the year [1][3]. Market Position - Lanzhou Bank maintained a stable market share in Gansu Province, with a deposit market share of 12.30% and a loan market share of 9.95%, ranking first and second in the province respectively [2]. - The bank has over 6.75 million customers, indicating strong brand recognition and support from the local community [2]. Customer Growth - The bank expanded its customer base significantly, adding 19,200 corporate settlement clients and 1180 corporate credit clients, along with 200,300 personal asset under management clients [3]. Asset Quality - The bank's asset quality remained stable, with a non-performing loan ratio of 1.83% and a provision coverage ratio exceeding 200% for the first time [3]. Strategic Initiatives - Lanzhou Bank is focusing on four key areas: risk reduction, innovation, market expansion, and strengthening its foundation to enhance operational efficiency [2][4]. - The bank is committed to supporting the local economy through targeted lending, including a 27.45% increase in loans to high-end manufacturing [5]. Social Responsibility - The bank is actively promoting inclusive finance, with microfinance loans reaching 13.794 billion yuan and agricultural loans exceeding 20 billion yuan [6]. - Initiatives such as the "Lanzhou Women's Loan" aim to support female entrepreneurs and contribute to rural revitalization [6].

Core Insights - Lanzhou Bank reported a stable growth in asset scale and profitability for Q1 2025, with total assets exceeding 492.69 billion yuan, operating income of 2.037 billion yuan, and net profit of 572 million yuan, reflecting a year-on-year increase of 3.26% and 2.15% respectively [1] - The bank's non-performing loan ratio slightly decreased to 1.81%, and it achieved a significant increase in loan issuance, with a growth rate of 7.18%, the highest in five years [1] Financial Performance - Total assets reached 492.69 billion yuan, marking a significant milestone [1] - Operating income was 2.037 billion yuan, up 3.26% from the previous year [1] - Net profit stood at 572 million yuan, reflecting a 2.15% increase year-on-year [1] - The net interest margin improved to 1.46%, an increase of 0.03 percentage points [1] Business Development - Lanzhou Bank is focusing on financial support for technology innovation, advanced manufacturing, and green development, aligning with regional economic characteristics [2] - The bank has implemented a "容缺" acceptance mechanism for major projects and adopted a parallel processing model to enhance project approval efficiency [2] Customer Acquisition and Efficiency - The bank is expanding its corporate client base through targeted marketing strategies, including promotional activities for new registered enterprises [2] - Efforts are being made to improve online appointment services for account openings and to focus on key customer segments [2] Future Outlook - Lanzhou Bank aims to enhance quality and efficiency while adapting to changes in the operating environment, contributing to the development of the real economy and financial market stability [2]

Group 1: Economic Indicators - In the first quarter, the total profit of industrial enterprises above designated size reached 150.936 billion yuan, a year-on-year increase of 0.8% [4] - The Ministry of Commerce and six other departments announced an optimization of the departure tax refund policy, raising the cash refund limit to 20,000 yuan [4][6] Group 2: Company Earnings - Gujing Gongjiu reported a net profit of 5.517 billion yuan for 2024, a year-on-year increase of 20.22%, and proposed a dividend of 50 yuan per 10 shares [8] - Gree Electric reported a net profit of 32.185 billion yuan for 2024, a year-on-year increase of 10.91%, and proposed a dividend of 20 yuan per 10 shares [8] - Luzhou Laojiao reported a net profit of 13.473 billion yuan for 2024, a year-on-year increase of 1.71%, and proposed a dividend of 45.92 yuan per 10 shares [8] - Yake Technology reported a net profit of 872 million yuan for 2024, a year-on-year increase of 50.41%, and proposed a dividend of 2.6 yuan per 10 shares [8] - Yunda Holdings reported a net profit of 1.914 billion yuan for 2024, a year-on-year increase of 17.77%, and proposed a dividend of 2 yuan per 10 shares [8] Group 3: Significant Corporate Announcements - National City Mining reported a net profit of 612 million yuan for the first quarter of 2025, a year-on-year increase of 18,279.65%, primarily due to increased investment income from the sale of subsidiaries [9] - Zhenghe Ecology signed a strategic cooperation agreement with Yanshan (Hebei) Cultural Tourism Development Group, planning a total investment of 2 billion yuan for a tourism integration project [9] - New Life Fortune announced plans to issue shares and pay cash to acquire 100% of Guangzhou Jinnan Magnetic Materials, which is expected to constitute a major asset restructuring [9] - Chengdi Xiangjiang announced that its subsidiary won a bid for a project with a contract value of 1.632 billion yuan, with a construction period of 92 days [10]

Group 1 - Haiyuan Composite will implement delisting risk warning from April 29, 2025, with stock name changed to "*ST Haiyuan" and daily price fluctuation limit set at 5% [3] - Xinlaifu plans to acquire 100% of Jin Nan Magnetic Materials, with the transaction expected to constitute a major asset restructuring, and stock will resume trading on April 28, 2025 [4] - Hongbaoli's subsidiary successfully completed trial production of polyether technology transformation project, producing qualified products [5] - Xingguang Co. received a warning letter from Guangdong Securities Regulatory Bureau due to significant discrepancies in 2024 performance forecast and actual results [6] - Meirui New Materials' subsidiary successfully completed the production process for its polyurethane industrial park phase one project [7] Group 2 - Taigang Stainless Steel reported Q1 2025 net profit of 188 million yuan, a year-on-year increase of 5506.92%, with revenue of 23.31 billion yuan, down 4.71% [9] - Shen Shen Fang A reported Q1 2025 net profit of 72.42 million yuan, a year-on-year increase of 3718.51%, with revenue of 330 million yuan, up 457.38% [10] - Qingda Environmental reported Q1 2025 net profit of 68.71 million yuan, a year-on-year increase of 990.26%, with revenue of 619 million yuan, up 317.43% [11] - Jincai Hulin reported Q1 2025 net profit of 13.65 million yuan, a year-on-year increase of 466.95%, with revenue of 206 million yuan, down 33% [13] - New Sai Co. reported Q1 2025 net profit of 18.19 million yuan, a year-on-year increase of 315.74%, with revenue of 1.215 billion yuan, up 312.03% [14] - Kexing Pharmaceutical reported Q1 2025 net profit of 25.58 million yuan, a year-on-year increase of 106.21%, with revenue of 354 million yuan, down 1.97% [15] - Jiechang Drive reported Q1 2025 net profit of 113 million yuan, a year-on-year increase of 62.21%, with revenue of 961 million yuan, up 35.59% [16] - Taihe Co. reported Q1 2025 net profit of 78.53 million yuan, a year-on-year increase of 50.94%, with revenue of 1.033 billion yuan, up 18.5% [17] - Xiyu Co. reported Q1 2025 net profit of 499 million yuan, a year-on-year increase of 53.08%, with revenue of 9.729 billion yuan, up 15.82% [18] - Hualing Cable reported Q1 2025 net profit of 32.16 million yuan, a year-on-year increase of 55.54%, with revenue of 1.005 billion yuan, up 11.38% [19] - Dong'a Ejiao reported Q1 2025 net profit of 425 million yuan, a year-on-year increase of 20.25%, with revenue of 1.719 billion yuan, up 18.24% [20] - China Rare Earth reported Q1 2025 net profit of 72.62 million yuan, turning from loss to profit, with revenue of 728 million yuan, up 141.32% [21] - Gree Electric reported 2024 net profit of 32.185 billion yuan, a year-on-year increase of 10.91%, with revenue of 189.164 billion yuan, down 7.26% [22] - Luzhou Laojiao reported 2024 net profit of 13.473 billion yuan, a year-on-year increase of 1.71%, with revenue of 31.196 billion yuan, up 3.19% [24] - Yake Technology reported 2024 net profit of 872 million yuan, a year-on-year increase of 50.41%, with revenue of 6.862 billion yuan, up 44.84% [25] - Gujing Gongjiu reported 2024 net profit of 5.517 billion yuan, a year-on-year increase of 20.22%, with revenue of 23.578 billion yuan, up 16.41% [26] - Lanzhou Bank reported 2024 net profit of 1.888 billion yuan, a year-on-year increase of 1.29%, with revenue of 7.854 billion yuan, down 2.02% [27] - China Power Construction reported 2024 net profit of 12.015 billion yuan, a year-on-year decrease of 7.21%, with revenue of 633.685 billion yuan, up 4.07% [28] - China Communications Construction reported Q1 2025 net profit of 5.467 billion yuan, a year-on-year decrease of 10.98%, with revenue of 154.644 billion yuan, down 12.58% [29] Group 3 - Koweil plans to reduce its shareholding by up to 3.21% [31] - Nanya New Materials plans to reduce its repurchased shares by up to 238,480 shares, accounting for 1% of total shares [32] - Xiangsheng Medical's shareholders plan to reduce their holdings by up to 1.72% [33] Group 4 - Zhenhua Heavy Industry plans to repurchase shares worth 50 million to 100 million yuan [35] - Deep Keda plans to acquire 16.92% of the equity of its subsidiary Xianma Technology for 47.376 million yuan [37] - Jinchengxin signed a mining production contract with Western Mining, with an estimated contract value of approximately 377 million yuan [38]

兰州银行股份有限公司 内控审计报告 大信审字[2025]第 9-00416 号 大信会计师事务所(特殊普通合伙) WUYIGE CERTIFIED PUBLIC ACCOUNTANTS LLP. 您可使用手机"扫一扫"或进入"注册会计师行业统一监管平台（http://acc.mof.gov.cn】 0春路1号 1 22 月 2206 WUYIGE Certified Public Accountants I I F Room 2206 22/F. Xuevuan International Tower No.1 Zhichun Road, Haidian Dist Beijing. China. 100083 内部控制审计报告 大信审字[2025]第 9-00416 号 兰州银行股份有限公司全体股东: 按照《企业内部控制审计指引》及中国注册会计师执业准则的相关要求,我们审计了兰州 银行股份有限公司(以下简称兰州银行)2024年12月31日的财务报告内部控制的有效性。 一、企业对内部控制的责任 按照《企业内部控制基本规范》、《企业内部控制应用指引》、《企业内部控制评价指引》的 规定,建立健全和有效实施内部控制, ...

UK 4 100083 WUYIGE Certified Public Accountants II P 春路 1 号 15/F, Xueyuan International Tower No. 1 Zhichun Road, Haidian Dist. Beijing, China, 100083 大信会计师事务所(特殊普通合伙) WUYIGE CERTIFIED PUBLIC ACCOUNTANTS LLP. 您可使用手机"扫一扫"或进入"注册会计师行业统一监管平台（http://acc.mof.gov.cn) 兰州银行股份有限公司 控股股东及其他关联方占用 资金情况审核报告 大信专审字[2025]第 9-00020 号 Kk til- Infornot. +86 (10) 82327668 www.daxincna.com_cn 控股股东及其他关联方占用资金情况审核报告 大信专审字[2025]第 9-00020 号 兰州银行股份有限公司全体股东: 我们接受委托,审计了兰州银行股份有限公司(以下简称"兰州银行")的财务报表,包 括 2024 年 12 月 31 日的合并及银行资产负债表,2024 年度的合 ...

兰州银行股份有限公司 审 计 报 告 大信审字[2025]第 9-00378 号 大信会计师事务所(特殊普通合伙)_ WUYIGE CERTIFIED PUBLIC ACCOUNTANTS LLP. 您可使用手机"扫一扫"或进入"注册会计师行业统一监管平台（http://zfc.gzf.gov.cn）"划行 您可使用手机"扫一扫"或进入"注册会计师行业统一监管平台（http://z 报告编码:京26YX0NG8R 22 层 2206 WUYIGE Certified Public Accountants.LLP Room 2206 22/F Xuevuan International Tower No.1 Zhichun Road,Haidian Dist. Beijing, China, 100083 审计报告 大信审字[2025]第 9-00378 号 兰州银行股份有限公司全体股东: 一、审计意见 我们审计了兰州银行股份有限公司(以下简称"兰州银行")财务报表,包括 2024 年 12 月 31 日的合并及银行资产负债表,2024年度的合并及银行利润表、合并及银行现金流量表、 合并及银行股东权益变动表,以 ...

中信建投证券股份有限公司关于兰州银行股份有限公司 2024 年关联交易执行情况的核查意见 二、兰州银行 2024 年日常关联交易执行情况 （一）授信类关联交易情况 截至 2024 年末，兰州银行对所有关联方授信余额 171.03 亿元，兰州银行与 全部关联方授信类关联交易情况如下： | 序号 | 关联方 | 关联交易类 | 预计额度（亿 | 2024 年交易 | | --- | --- | --- | --- | --- | | | | 型 | 元） | 余额（亿元） | | 1 | 甘肃盛达集团有限公司及其关联 | 贷款、银承 | 30.00 | 29.63 | | | 企业 | | | | | 2 | 兰州国资投资（控股）建设集团有 限公司及其关联企业 | 贷款 | 25.00 | 24.30 | | | 甘肃省国有资产投资集团有限公 | | | | | 3 | 司及其关联企业 | 贷款、债券 | 27.50 | 21.45 | | 4 | 华邦控股集团有限公司及其关联 | 贷款、保函 | 20.51 | 20.49 | 1 | 序号 | 关联方 | 关联交易类 | 预计额度（亿 | 2024 年交易 | ...