ZJB(SH:601860) Chang Jiang Shang Bao·2025-08-25 05:52Core Viewpoint - Zijin Bank is undergoing significant leadership changes and institutional reforms to address compliance issues and improve its performance amid regulatory pressures and declining profits [1][6][9]. Leadership Changes - Zijin Bank appointed Que Zhenghe as the new president and chief compliance officer, and Xu Guoyu as the vice president and board secretary, pending regulatory approval [1][3]. - The current chairman, Shao Hui, has been re-elected for another term, having led the bank for a year [5][6]. Compliance Issues - The bank faced a fine of 2.4 million yuan for seven violations, including breaches of financial statistics and account management regulations [1][7]. - The addition of a chief compliance officer is a direct response to these compliance challenges [1][6]. Financial Performance - In 2024, Zijin Bank's net profit growth was only 0.3%, the lowest since its listing, with three consecutive quarters of negative revenue growth starting from Q3 2024 [1][9]. - For Q1 2025, the bank reported a revenue of 1.141 billion yuan, a decrease of 4.82% year-on-year, while net profit was 422 million yuan, up 4.04% [9]. - Total assets reached 280.25 billion yuan, with a loan total of 191.17 billion yuan and a deposit total of 221.10 billion yuan as of March 2025 [9]. Strategic Challenges - The new management team faces the dual challenge of balancing regulatory compliance with the need for revenue growth [1][9]. - The frequent turnover in leadership and ongoing compliance issues present significant hurdles for the bank's future performance [9].