从规划“5年上市”到终止审核，亳州药都农商行两任董事长相继被查

Core Viewpoint - The IPO journey of Bozhou Yaodu Rural Commercial Bank is intertwined with the fates of its two chairmen, culminating in the withdrawal of its listing application and the investigation of both individuals for serious violations of discipline and law [2][3]. Group 1: IPO Journey - The IPO process was initiated by the first chairman, Xu Shaopu, who set a goal for the bank to complete its IPO within five years in 2016, and formally submitted the prospectus in 2018 [5][6]. - The IPO application was accepted by the Shanghai Stock Exchange in March 2023 under the leadership of the second chairman, Wang Feng, but was ultimately withdrawn in January 2024 [2][6]. - The withdrawal was attributed to "strategic adjustments" and followed the investigation of both chairmen, raising concerns about the bank's internal governance and compliance systems [5][6]. Group 2: Financial Performance - The bank's revenue and net profit showed a declining trend from 2022 to 2024, with revenues of 2.038 billion, 1.829 billion, and 1.811 billion yuan, and net profits of 349 million, 209 million, and 223 million yuan respectively [4]. - The non-performing loan (NPL) ratio increased from 3.11% in 2022 to 3.41% in 2023, indicating deteriorating asset quality [4][7]. - As of September 2025, the total assets of the bank were reported at 79.78 billion yuan, with a revenue of 885 million yuan in the first half of 2025, a year-on-year decrease of 1.56% [4]. Group 3: Governance and Compliance Issues - The investigations into both chairmen have raised significant concerns regarding the bank's internal governance and risk management systems, with both Xu Shaopu and Wang Feng being investigated for serious violations [2][3][8]. - The compliance risks have been exacerbated by the failure of the internal control system, which has become a major obstacle to the IPO process [8]. - The continuous investigation of senior management has led to a reevaluation of the bank's historical compliance and governance practices, further complicating its IPO ambitions [8].