海南银行等三家中小银行推进上市，中小银行IPO赛道升温

Group 1 - The core viewpoint of the articles highlights the recent activity in the IPO market for small and medium-sized banks in China, particularly focusing on Hainan Bank, Dongguan Bank, and Nanhai Rural Commercial Bank, driven by the need for capital replenishment and the favorable policies of the Hainan Free Trade Port [2][3][5] - Hainan Bank is positioned to become the first local bank to list on the capital market after the full closure of the Hainan Free Trade Port on December 18, 2025, which will facilitate cross-border finance and trade [3] - Dongguan Bank and Nanhai Rural Commercial Bank have resumed their IPO processes after facing multiple setbacks, with Dongguan Bank's listing journey spanning 17 years and Nanhai Rural Commercial Bank encountering issues related to equity changes and rising non-performing loan rates [5][6] Group 2 - Hainan Bank's IPO is closely linked to the policy benefits of the Hainan Free Trade Port, with the bank aiming to enhance its capital and risk resilience through the listing [3] - As of the third quarter of 2025, Dongguan Bank's core Tier 1 capital adequacy ratio has dropped to 9.13%, nearing the regulatory threshold, while Nanhai Rural Commercial Bank's non-performing loan ratio has risen to 1.55%, above the industry average [5][6] - The current trend of small and medium-sized banks pursuing IPOs aligns with the central government's push for financial reform, emphasizing the need for these banks to establish long-term capital replenishment mechanisms through listings and bond issuance [6]