Bank of Chengdu(SH:601838) Mei Ri Jing Ji Xin Wen·2025-08-12 13:30Core Viewpoint - Chengdu Bank's major shareholders are adjusting their shareholding plan due to the stock price exceeding the previously set upper limit of 17.59 CNY per share, indicating a commitment to support the bank's future development and stability in the market [1][2][6]. Summary by Sections Shareholding Plan Adjustment - Chengdu Bank's actual controller, Chengdu State-owned Assets Supervision and Administration Commission, and its subsidiaries plan to cancel the previous price limit and will instead aim to increase their holdings based on market conditions, with a total investment amount set between 700 million CNY and 1.4 billion CNY [1][2]. - The new plan will allow for a dynamic increase in shareholding without a fixed price range, starting from April 9, 2025, for a duration of 12 months [2][3]. Historical Context and Stock Performance - The initial shareholding plan was announced in April 2025, with a maximum purchase price of 17.59 CNY per share, which was the highest price after the stock's ex-dividend date [5]. - Following the announcement, Chengdu Bank's stock price rose significantly, reaching a peak of 20.96 CNY per share on June 27, 2025, and closing at 19.03 CNY on August 8, 2025, reflecting a more than 13% increase since the initial announcement [5][6]. Financial Performance - Chengdu Bank reported a total asset exceeding 1 trillion CNY by mid-2023, with a steady growth in revenue and net profit, achieving 22.98 billion CNY in revenue and 12.86 billion CNY in net profit for 2024, marking year-on-year growth of 5.89% and 10.17% respectively [7]. - The bank's asset quality has improved, with a non-performing loan ratio decreasing to 0.66%, maintaining a record of nine consecutive years of decline [7]. Dividend Policy - Chengdu Bank has committed to a cash dividend policy of at least 30% of its net profit, distributing approximately 3.776 billion CNY in cash dividends for the 2024 fiscal year [8]. Market Trends - Other banks, such as Suzhou Bank and Nanjing Bank, have also seen major shareholders increase their stakes, reflecting a broader trend of confidence in the banking sector's future [8].