10月21日，深交所披露的信息显示，东莞银行与广东南海农商行的IPO审核状态由"已受理"再度变更 为"中止"，原因是财务资料已过有效期需补充提交。这已是两家银行年内第二次因相同问题暂停审核 ——今年3月31日首次中止后，6月30日曾通过更新资料恢复"已受理"状态，但仅三个月后再度陷入停 滞。 数据显示，截至上半年末，东莞银行的核心一级资本充足率降至9.24%，资本充足率13.74%，均低于行 业平均水平（10.93%、15.58%）；南海农商行的资本充足率14.93%，核心一级资本充足率12.4%。 在招股书中，东莞银行拟发行不超过7.8亿万股，募集资金全部用于补充资本金。广东南海农商行IPO拟 发行不超过13.2亿股，募集资金也全部用于补充核心一级资本。 实际上，为缓解资本压力，东莞银行2025年已发行两期金融债（45亿元），但内生资本补充能力不足问 题仍未解决。 业内人士表示，财务资料过期是表象，中小银行内部治理结构不完善、合规管理不足等问题，使得其在 满足上市要求方面面临较大挑战。像东莞银行，其自然人股东占比超98%的股权高度分散、无实际控制 人的结构及非息收入波动较大，对其构成上市实质性挑战；广东南海 ...

A股银行IPO市场再添波折。10月21日，北京商报记者注意到，东莞银行与广东南海农商行因财务资料 过有效期，IPO审核状态再度从中止后恢复的"已受理"回落至"中止"，这已是这两家银行年内第二次因 同一问题停滞。从2008年便开启上市征程的东莞银行，到2018年启动筹备的广东南海农商行，二者在漫 长的上市路程中更面临着营收净利双降、资本充足率低于行业平均的业绩压力。 广东南海农商行盈利压力更为明显。2025年上半年，该行实现营业收入32.78亿元，较去年同期下降 8.24%；实现净利润13.9亿元，较去年同期下滑14.17%，盈利指标持续承压。资本充足率方面，其核心 一级资本充足率与一级资本充足率均为12.4%，资本充足率14.93%。对比行业平均水平，2025年二季 度，商业银行平均核心一级资本充足率、一级资本充足率、资本充足率分别为10.93%、12.46%、 15.58%。两家银行的多项指标均低于这一平均标准。 中国（香港）金融衍生品投资研究院院长王红英分析指出，两家银行的财务规范性存在不足，其深层次 症结源于经营业绩的下滑，两家银行上半年整体营收均出现一定程度下降，这使得它们与上市门槛的距 离进一步拉大 ...

A股银行IPO市场再添波折。10月21日，北京商报记者注意到，东莞银行与广东南海农商行因财务资料 过有效期，IPO审核状态再度从中止后恢复的"已受理"回落至"中止"，这已是这两家银行年内第二次因 同一问题停滞。从2008年便开启上市征程的东莞银行，到2018年启动筹备的广东南海农商行，二者在漫 长的上市路程中更面临着营收净利双降、资本充足率低于行业平均的业绩压力。 自2022年兰州银行上市后，A股银行IPO已连续三年"空窗"，当前沪深交易所主板银行IPO"预备役"仅余 5家，多家仍在上市辅导期的银行也被股权问题、资产确权瑕疵等牵绊。分析人士称，部分中小银行财 务经营数据表现疲软，叠加一些银行自身存在合规问题，共同削弱了其推进IPO的积极性；此外，当前 我国金融资本市场政策更侧重支持科技型企业上市融资，与中小银行的上市需求存在偏差，也在一定程 度上延缓了其上市进程。 再度按下"暂停键" 10月21日，北京商报记者注意到，深交所最新披露的审核信息显示，东莞银行与广东南海农商行的IPO 审核状态再度从"已受理"变更为"中止"，究其原因仍是IPO申请文件中的财务资料过有效期，需补充提 交。事实上，这已是两家银行年内第 ...

近日，东莞银行A股IPO审核陷入"中止"。据深交所披露，这应是其2023年首次递交招股书以来，第四 次中止审核了。 三个半月前，东莞银行重启IPO审核，一时间让市场有点激动，但没想到如今又陷入"中止"状态。 东莞银行这次中止跟之前一样，需要更新招股书的数据，尤其是财务业绩。 来源：密探财经（ID：Spy Finance） 不过，东莞银行得益于期内业务及管理费、信用减值损失等主要营业成本下降，特别是信用减值损失同 比减少3.91亿元至6.37亿元，降幅达到38%，对应净利同比减少3460万元至23.6亿元，相对跌幅1.44%。 截至今年6月底，东莞银行并表口径总资产6770亿元，较去年底只增加了42.8亿元，增幅仅约0.64%。 需要注意的是，东莞银行资产端结构调整比较大，比如现金及存放央行存款较去年底下降130亿元，买 入返售金融资产下降近65亿元，而金融投资规模也缩量了82亿元，但内部调整变化较大，比如交易性金 融资产减少158亿元，债权投资减少110亿元，其他债权投资增加185亿元。 自2022年兰州银行A股上市之后，银行A股IPO大门至今再未打开过，像东莞银行这种IPO审核"走走停 停"，的确折磨人。 ...

Core Viewpoint - Recent leadership changes at Quanzhou Bank have drawn significant attention in the industry, with the appointment of Jiang Wenpeng as the new chairman and ongoing challenges related to asset quality and loan performance [5][6][8]. Leadership Changes - Jiang Wenpeng has been nominated as the new chairman of Quanzhou Bank, succeeding Lin Yangfa, who retired due to reaching the legal retirement age [6][7]. - The bank has also seen other key personnel changes, including the appointment of Ye Xuyin as the new board secretary and Wang Haibin as the new assistant president [8][9]. Asset Quality Challenges - Quanzhou Bank's non-performing loan (NPL) ratio has increased for three consecutive years, reaching 1.83% in 2024, with overdue loans growing by over 800 million yuan [8][11]. - The bank's provision coverage ratio has decreased from 168.01% in 2023 to 163.23% in 2024, indicating a weakening ability to cover potential loan losses [12][13]. Financial Performance - As of the end of 2024, Quanzhou Bank reported total assets of 175.3 billion yuan, with total deposits of 134.7 billion yuan and total loans of 111 billion yuan [10]. - The bank achieved operating income of 3.698 billion yuan in 2024, a year-on-year increase of 4.55%, and a net profit of 656 million yuan, up 0.95% [10]. Capital Adequacy - The capital adequacy ratio stood at 14.12% and the core tier 1 capital ratio at 9.33% as of the end of 2024, both above regulatory minimums [13]. - The bank's total capital net amount is 16.934 billion yuan, with tier 1 capital net amount at 13.384 billion yuan [14]. Shareholding Structure - Quanzhou Bank has a dispersed shareholding structure, with the largest shareholder holding only 11.67% of the shares, indicating no absolute control by any single entity [15][16]. - The top ten shareholders collectively hold 24.59% of the shares, with significant representation from state-owned enterprises [15][16]. Regulatory Challenges - The bank has faced multiple regulatory penalties in 2024, including fines for failing to report criminal case information and inadequate due diligence on loans [18]. - The bank's performance in the first quarter of 2024 showed a decline in revenue and net profit, with revenue down 25.3% year-on-year and net profit down 49.09% [19]. IPO Aspirations - Quanzhou Bank has been preparing for an IPO since 2021, aiming to enhance its strength and growth potential through capital markets, but faces challenges related to performance volatility and asset quality management [18][20].

Core Viewpoint - The A-share IPO market for banks has been stagnant for three and a half years, with 15 banks currently in the listing guidance phase, facing various challenges in their path to IPO [1][3][10]. Group 1: Current Status of Banks in IPO Guidance - There are 15 banks in the IPO guidance phase, with guidance durations ranging from over 2 years to 15 years, highlighting the prolonged nature of the process [1][3]. - HanKou Bank has been in the guidance phase since December 2010, focusing on capital supplementation to alleviate capital adequacy pressure [3][4]. - New entrants like Guilin Bank began their guidance process in August 2023, indicating a mix of experienced and new players in the IPO preparation [3][4]. Group 2: Challenges Faced by Banks - Many banks are struggling with issues related to equity management, asset ownership, and corporate governance, which hinder their IPO progress [6][9]. - Specific challenges include unresolved equity disputes, excessive shareholding by employees, and incomplete asset rights documentation [7][8]. - Capital pressure remains a significant constraint, with banks like HanKou Bank needing to explore multiple channels for capital supplementation to meet IPO requirements [9]. Group 3: Market Environment and Regulatory Landscape - The IPO market has become increasingly cautious, with no new bank listings since January 2022, reflecting a tightening regulatory environment [10]. - The shift to a registration-based system has led to stricter scrutiny of corporate governance and a focus on regional banks' roles in local economies [10][11]. - Banks are advised to assess their readiness and market conditions carefully before submitting IPO applications, considering factors like risk management and economic recovery [11]. Group 4: Recommendations for Banks - Analysts suggest that banks in the guidance phase should adopt a dual approach: continue rectifying issues for IPO readiness while exploring alternative capital-raising methods [11]. - Engaging strategic investors and optimizing equity structures through mergers and acquisitions are recommended strategies for banks facing prolonged guidance periods [11].

Core Viewpoint - Shunde Rural Commercial Bank's IPO application has been withdrawn after 8 years of preparation, leading to the termination of its listing review by the Shenzhen Stock Exchange [2][5][4]. Group 1: IPO Status - The Shenzhen Stock Exchange announced the termination of Shunde Rural Commercial Bank's IPO review following the bank's withdrawal of its application [4][5]. - This marks the end of an 8-year journey since the bank's IPO counseling began in July 2017 [2][5]. Group 2: Financial Performance - As of the end of 2024, Shunde Rural Commercial Bank reported a net profit of 3.17 billion yuan, a decline of 8.5% year-on-year, marking three consecutive years of profit decline [2][10]. - The bank's non-performing loan ratio rose to 1.61%, increasing for four consecutive years, with a total non-performing loan balance of 4.05 billion yuan [11][10]. - The bank's revenue for 2024 was 8.49 billion yuan, showing a slight increase of 1.2% year-on-year [10]. Group 3: Shareholder Structure and Transactions - By the end of 2024, Shunde Rural Commercial Bank had approximately 87,700 shareholders, with Midea Group being the largest shareholder, holding 9.69% of the shares [5][6]. - The bank engaged in 1,529 related party transactions in 2024, amounting to approximately 28.66 billion yuan, indicating a close relationship with its major shareholders [6][11]. Group 4: Expansion and Management Changes - Despite the IPO withdrawal, Shunde Rural Commercial Bank has been actively pursuing external expansion, including plans to acquire multiple village and town banks [12][13]. - The bank has experienced several changes in its executive management, including the resignation of its chairman after 10 years and the appointment of new executives in 2024 [12][13].

Group 1 - The core issue for small and medium-sized banks in China is the difficulty in going public, with A-share listings facing challenges before the IPO and H-share listings facing difficulties after the IPO [1][7] - Recently, Shunde Rural Commercial Bank withdrew its IPO application, reducing the number of banks waiting for approval from 10 to 5 [1][2] - The slow progress of bank IPOs is attributed to capital market policy adjustments and the impact of market volatility on bank stock stability [1][3] Group 2 - The initial group of 10 banks included Guangzhou Bank, Dongguan Bank, and others, but several have since withdrawn their applications, with the smallest being Yaodu Bank, which withdrew after nearly 6 years of waiting [2][4] - Shunde Rural Commercial Bank experienced two rounds of performance declines, with significant drops in both revenue and net profit during the pandemic and the current economic downturn [4][5] - The bank's financial performance showed a decline in net interest income and commission income, with non-performing loans increasing, indicating pressure on asset quality [5][6] Group 3 - The trend of bank IPOs has slowed significantly since 2019, with no new bank listings in A-shares since January 2022 [7][8] - While the Hong Kong market offers an alternative for listings, small and medium-sized banks face challenges post-listing, including low valuations and trading volumes [8][9] - Recent examples of banks like Jilin Bank and Jiutai Rural Commercial Bank highlight the difficulties faced in maintaining share prices and trading activity after going public [9][10]

Core Viewpoint - The recent developments in the IPO landscape for banks indicate a significant divergence in the progress of various banks, with Dongguan Bank and Nanhai Rural Commercial Bank resuming their IPO processes while Shunde Rural Commercial Bank remains stalled due to unupdated financial data [1][2]. Group 1: IPO Status and Performance - Dongguan Bank and Nanhai Rural Commercial Bank have updated their financial data, leading to their IPO review status being restored to "accepted" [1][2]. - Shunde Rural Commercial Bank, in contrast, has not updated its financial data and remains in a "suspended" state, raising questions about its future IPO prospects [1][2]. - In 2024, Dongguan Bank reported a revenue of 10.197 billion yuan, a decrease of 3.69%, and a net profit of 3.733 billion yuan, down 8.2%, marking its first decline in five years [2]. - Nanhai Rural Commercial Bank achieved a revenue of 6.429 billion yuan, a decline of 6.30%, but its net profit increased by 2.99% to 2.453 billion yuan, ending two years of negative growth [2]. - Shunde Rural Commercial Bank's net profit fell to 3.177 billion yuan, a decrease of 7.89%, marking three consecutive years of decline [2]. Group 2: Asset Quality and Challenges - Shunde Rural Commercial Bank's non-performing loan (NPL) ratio rose to 1.61% in 2024, an increase of 0.13 percentage points from 2023, showing a clear upward trend in NPLs over the past four years [3]. - The overall difficulty for banks to go public has increased, with many banks facing challenges in their IPO processes, including Jiangsu Hai'an Rural Commercial Bank and Guangzhou Bank, which have withdrawn their applications [6][7]. - The current banking IPO landscape is characterized by stricter scrutiny from regulators, particularly affecting smaller banks with weaker qualifications [6][8]. Group 3: Capital Supplementation Strategies - As banks face declining capital adequacy ratios due to asset expansion and pressure from non-performing assets, alternative capital-raising methods such as issuing capital supplement bonds and attracting strategic investors have become crucial [8][9]. - In the first half of the year, commercial banks issued 52 "perpetual bonds" totaling 812.56 billion yuan, indicating a trend towards diverse capital-raising strategies [8]. - Analysts suggest that banks unable to achieve IPOs should focus on attracting strategic investors and optimizing their asset quality to enhance their capital management [9][10].

Core Viewpoint - Xinjiang Bank has initiated the preparation for its IPO by releasing a financial advisory service project tender, marking a significant step towards its listing process [1][3]. Group 1: Listing Preparation - On May 19, Xinjiang Bank announced the commencement of its listing advisory process, following earlier reports about its IPO plans [3]. - The bank was included in the 2025 reserve list of potential listed companies by the Xinjiang Uygur Autonomous Region Financial Office, highlighting its status as a key financial institution in the region [3]. - Xinjiang Bank aims to leverage this opportunity to accelerate its listing process and establish itself as a financial benchmark for local economic transformation [3]. Group 2: Financial Performance - Xinjiang Bank reported impressive financial results for 2024, with operating income reaching 2.717 billion yuan, a year-on-year increase of 52%, and net profit of 588 million yuan, up 25% year-on-year [3]. - The bank's total assets surged to 184.453 billion yuan by the end of 2024, reflecting a significant year-on-year growth of 50.29% due to the integration of Korla Bank [3]. Group 3: Asset Quality - As of the end of last year, Xinjiang Bank's non-performing loan (NPL) ratio stood at 1.93%, a decrease of 0.97 percentage points from the beginning of the year, although it increased compared to the end of 2023 [4]. - Following the merger with Korla Bank, the bank experienced peak levels of NPL balance and ratio, prompting a focus on risk mitigation in key areas [4]. - The bank has reported reductions in both NPL balance and ratio in the latter half of 2024, with significant decreases in the third and fourth quarters [4]. Group 4: Market Context - The A-share market has not seen any new bank IPOs since January 2022, when Lanzhou Bank was listed, while several banks are currently in the IPO advisory phase [5]. - Xinjiang Bank's move to initiate its IPO process comes at a time when other banks, such as Urumqi Bank, have faced slow progress in their listing efforts [5]. - Analysts suggest that the current low valuations of listed banks may pose challenges for new listings, but a potential easing of monetary policy could improve market conditions for bank IPOs in the future [6].