冲刺自贸港“银行第一股”？海南银行再提推进IPO工作

Core Viewpoint - Hainan Bank, the only provincial-level commercial bank in Hainan, is progressing towards an IPO to enhance its capital and risk resilience, as indicated by its shareholder, Haima Automobile [1][6]. Group 1: IPO Progress - Hainan Bank is planning to advance its IPO based on a medium to long-term capital strategy, aiming to continuously supplement its capital and improve risk resistance [1][6]. - The bank's IPO plans have been mentioned previously, with management expressing intentions to accelerate international development and attract foreign investment [6]. - As of September 2025, Hainan Bank's core tier 1 capital adequacy ratio, tier 1 capital adequacy ratio, and total capital adequacy ratio were 8.24%, 10.91%, and 12.04% respectively, all meeting regulatory requirements [6]. Group 2: Industry Context - Hainan has 27 listed companies, with only one non-bank financial institution, Haide Co., indicating a potential gap in local banking representation if Hainan Bank successfully lists [5]. - The A-share banking IPO market has been stagnant for three consecutive years, which poses challenges for Hainan Bank's listing process [7]. Group 3: Financial Performance - In the first half of 2025, Hainan Bank's operating income and net profit were 12.34 billion and 3.05 billion respectively, showing year-on-year decreases of 9.12% and 24.36% due to a contraction in intermediary business [7]. - As of June 2025, the bank's total assets reached 120.29 billion, with liabilities at 111.44 billion, indicating stable asset-liability growth [7]. Group 4: Cross-Border Financial Opportunities - The official launch of the Hainan Free Trade Port on December 18, 2025, presents significant development opportunities for local financial institutions [8]. - Hainan Bank is actively involved in high-level open pilot projects, including the establishment of a multi-functional free trade account system and cross-border asset management pilot projects [8][9]. - As of October 2025, 11 banks in Hainan have launched EF accounts, with a total business volume of 268.9 billion RMB, covering 80 countries and regions [9].