14家中小行密集更新上市辅导材料，IPO“马拉松”何时冲线？

Core Viewpoint - The IPO process for small and medium-sized banks in China has significantly slowed down, with 15 banks currently in the listing guidance period, facing common issues related to asset ownership, equity management, and capital supplementation [1][10]. Group 1: Listing Progress and Challenges - Since the listing of Lanzhou Bank in 2022, no new banks have entered the A-share market, and the listing process for small and medium-sized banks has noticeably decelerated [1]. - Despite the slowdown, 15 banks are still in the listing guidance phase, with 14 banks recently disclosing their guidance progress reports [1][10]. - Common issues among these banks include asset ownership irregularities, the need for equity management optimization, and capital supplementation challenges [1][10]. Group 2: Asset Ownership Issues - Asset ownership problems are prevalent among many banks, with issues such as unregistered properties and incomplete documentation being frequently reported [4][5]. - For instance, Gansu Bank has been working on rectifying ownership issues for properties valued at approximately 143 million yuan, which remain unresolved [4][5]. - Other banks, like Wenzhou Bank and Guilin Bank, also face similar asset ownership challenges, including unregistered rental properties and incomplete ownership documentation [5][6]. Group 3: Equity Management Optimization - Many banks are struggling with complex equity structures, non-compliant shareholder qualifications, and instances of illegal shareholding [6][7]. - For example, Urumqi Bank has a complicated equity structure due to historical reasons and is currently working on capital expansion to optimize its equity structure [6]. - Violations of shareholding regulations have been noted in banks like Huishang Bank and Jiangnan Rural Commercial Bank, where individual employee shareholdings exceed the regulatory limit [6][7]. Group 4: Capital Supplementation Challenges - Capital adequacy remains a critical issue for many small and medium-sized banks, with ongoing pressures despite some banks having issued capital tools and expanded capital [10][11]. - HanKou Bank, for instance, has implemented capital expansion measures but still faces challenges in maintaining adequate capital levels, with a capital adequacy ratio of 14.38% as of the end of 2024, an increase of 2.54 percentage points from the previous year [11]. - The need for additional capital sources is emphasized as these banks aim to enhance their ability to serve the real economy and mitigate risks [10][11].