Core Viewpoint - JiuTai Rural Commercial Bank has announced its delisting from the Hong Kong Stock Exchange, leaving Harbin Bank as the only listed bank in Northeast China after the delisting of three banks [1][3]. Group 1: Company Overview - JiuTai Rural Commercial Bank was established in December 2008 as Northeast China's first rural commercial bank and successfully listed on the Hong Kong Stock Exchange in January 2017 [3]. - The bank's H-shares were suspended from trading since March 12, with the last trading price recorded at HKD 0.41 per share [3]. Group 2: Financial Performance - For the first half of 2024, JiuTai Rural Commercial Bank reported operating income of CNY 2.045 billion, a year-on-year decrease of 18.78%, and a net profit of CNY 130 million, a year-on-year increase of 1.64% [3]. - The bank has issued profit warnings, projecting a full-year loss of CNY 1.7 billion to CNY 1.9 billion for 2024 and a loss of CNY 898 million for the first half of 2025, primarily due to changes in the external market environment and increased asset impairment losses [4]. Group 3: Acquisition and Market Position - In July, Jilin Financial Holding Group proposed a buyout of all issued H-shares and domestic shares of JiuTai Rural Commercial Bank at prices of HKD 0.70 per H-share and CNY 0.63 per domestic share, with a total cash consideration exceeding CNY 3 billion [6]. - Following the delisting of JiuTai Rural Commercial Bank, Harbin Bank remains the only listed bank in Northeast China, but it faces its own challenges [6]. Group 4: Harbin Bank's Performance and Concerns - Harbin Bank reported operating income of CNY 14.243 billion for 2024, a year-on-year increase of 7.56%, and a net profit of CNY 1.082 billion, a year-on-year increase of 21.88% [6]. - The bank's financial investment net income surged to CNY 1.522 billion, reflecting a significant increase of 474.5%, raising concerns about the sustainability of this growth model [6]. - Harbin Bank's non-performing loan ratio reached 2.84%, the highest among over 70 city commercial banks, with a non-performing loan balance exceeding CNY 10.76 billion, marking a 16.2% increase from 2023 [7]. - The bank's capital adequacy ratios have declined, with the core Tier 1 capital adequacy ratio at 8.69% and the total capital adequacy ratio at 13.61% as of the end of 2024 [7].
九台农商银行正式退市，东北仅剩一家上市银行