东莞银行十七载IPO上市长跑遇荆棘，营收净利大幅双降

Core Viewpoint - Dongguan Bank has faced continuous declines in revenue and net profit, raising concerns about its IPO prospects and overall financial health [2][3][4]. Financial Performance - Dongguan Bank's operating revenue for 2024 was 10.197 billion, a decrease of 3.69% year-on-year, while net profit attributable to shareholders fell to 3.738 billion, down 8.1% [2]. - In the first three quarters of 2025, the bank's operating revenue further declined to 6.918 billion, with a year-on-year drop of 9.39%, and net profit decreased by 20.69% to 2.546 billion [3]. Interest Income and Net Interest Margin - The bank's net interest income decreased by 14.57% to 7.119 billion in 2024, primarily due to a decline in loan interest income [4]. - The net interest margin fell to 1.26% in 2024 from 1.61% in 2023, and further decreased to 1.16% by June 30, 2025, significantly below the industry average of 1.37% [7]. Non-Interest Income - Non-interest income has been volatile, with investment income rising by 35.95% to 2.086 billion in 2024, but dropping by 5.25% to 1.159 billion by June 30, 2025 [8][9]. - Fee and commission income also saw a decline, with net income from this segment falling by 11.91% to 737 million in 2024 [9]. Asset Quality and Risk Management - The non-performing loan (NPL) ratio increased to 1.01% by the end of 2024 and further to 1.08% by June 30, 2025 [11]. - The bank's provision coverage ratio dropped to 212.01% in 2024 and further to 185.43% by June 30, 2025, indicating weakened risk absorption capacity [12][13]. Regulatory Compliance and Risks - Dongguan Bank has faced multiple regulatory penalties in 2025, totaling over 9 million, highlighting weaknesses in internal controls and compliance management [17][18]. - The bank's high concentration of loans in the local market, particularly in real estate, poses additional risks amid ongoing market adjustments [14][16].