困于“围墙”内外的中小行：有的拟申请退市，有的急欲抢滩上市

Core Viewpoint - The news highlights the contrasting situations of small and medium-sized banks in China, with some seeking to enter the A-share market while others, like Jiutai Rural Commercial Bank, are planning to delist due to poor financial performance and lack of investor confidence [1][2][3]. Group 1: Jiutai Rural Commercial Bank's Delisting - Jiutai Rural Commercial Bank announced a voluntary conditional cash offer for all issued H-shares at HKD 0.7 per share, representing a 70.73% premium over the last trading price of HKD 0.41 [1][2]. - The bank expects a net loss of RMB 17 billion to 19 billion for the year ending December 31, 2024, primarily due to reduced interest income and increased provisions for credit risk [3][4]. - The bank's H-shares have been suspended from trading since March 12, 2024, with a total market value of approximately HKD 21 billion [2][4]. Group 2: IPO Activities of Other Banks - Several small and medium-sized banks, including Dongguan Bank and Guangdong Nanhai Rural Commercial Bank, are actively seeking to list on the A-share market, with their IPO applications currently under review [5][7]. - Dongguan Bank aims to use the funds raised from its IPO to enhance its capital adequacy and competitiveness, while Guangdong Nanhai Rural Commercial Bank emphasizes the need for a sustainable capital replenishment mechanism [7][8]. - A significant number of banks, such as Guilin Bank and Gansu Bank, are in the listing guidance phase, indicating a strong interest in entering the market despite challenges [11][12]. Group 3: Market Context and Challenges - The A-share market has not seen new bank listings for three consecutive years since Lanzhou Bank's debut in January 2022, while the Hong Kong market welcomed Yibin Bank earlier this year [12]. - The implementation of a comprehensive registration system presents both opportunities and challenges for banks, as factors like asset quality and capital adequacy will significantly impact their ability to list [12][13]. - Historical issues, such as unresolved property rights and ongoing legal disputes, pose additional hurdles for banks like Guilin Bank and Hankou Bank in their listing efforts [13][14].