CENTEK(SZ:000931) Xiao Fei Ri Bao Wang·2025-09-10 02:24Core Viewpoint - Zhongguancun Bank, a private bank in China, reported a growth in both revenue and net profit for the first half of 2025, despite facing challenges in customer acquisition and regulatory constraints [2][8]. Financial Performance - As of June 2025, Zhongguancun Bank's total assets reached 79.354 billion RMB, a year-on-year increase of 4.83% [2]. - The bank's revenue for the first half of 2025 was 1.031 billion RMB, reflecting a 14.9% increase, while net profit was 123 million RMB, up 17.5% [7]. - In contrast, the bank's performance in 2024 showed a decline in revenue and net profit, with figures of 1.818 billion RMB and 275 million RMB respectively, marking a decrease of 1.36% and 11.29% year-on-year [3][4]. Business Model and Strategy - Zhongguancun Bank focuses on technology-driven financial services, particularly in the areas of supply chain finance and consumer finance [8]. - The bank has been actively promoting its "Hui E Loan" product through various internet platforms, targeting consumers with specific eligibility criteria [8][9]. - The bank collaborates with third-party platforms, such as Beijing Duyou Technology Co., Ltd. and Left Heart Real Estate Service (Hangzhou) Co., Ltd., to enhance its loan offerings [10][13]. Regulatory Environment - The bank's growth has been impacted by regulatory changes, particularly those governing internet lending and deposit-taking practices [5][6]. - Since 2021, the bank has been required to reduce reliance on third-party platforms for deposit acquisition, leading to a slowdown in personal deposit growth [5]. - The bank faces challenges in enhancing its self-operated business capabilities, as it has shifted to using its own internet platform for deposit collection [5][6]. Customer Complaints and Risks - Zhongguancun Bank has received a significant number of customer complaints, totaling 7,174 in 2024, primarily related to loan products and collection practices [19]. - The bank's partnerships with loan intermediaries have raised concerns, especially following the inclusion of Left Heart Real Estate Service in a blacklist by Douyin Group due to previous misconduct [15][16].