Group 1 - Guilin Bank's 2024 financial report indicates a leadership change, with Wu Dong resigning as chairman and Zhang Xiande stepping in as acting chairman [1] - The Guilin Municipal People's Congress has decided to remove Wu Dong from his position as a representative [1] - A new management team is emerging, with Zhang Xiande likely to be appointed as chairman and Lei Ming as the new president of Guilin Bank [1] Group 2 - Zhang Xiande, aged 53, has extensive financial management experience, having held various positions within Guilin Bank since joining in 2011 [2] - Lei Ming, born in the 1980s, is one of the youngest executives at Guilin Bank, with a strong background in risk management and compliance since joining in 2015 [2] - The bank has seen significant personnel changes, with 18 executives leaving over the past two years, including five in the latest report, all of whom resigned mid-term [1]

Core Viewpoint - Guilin Bank has disclosed its 2024 annual report, showing growth in operating income and net profit, alongside changes in leadership and ongoing IPO preparations [1][10]. Financial Performance - In 2024, Guilin Bank achieved operating income of 12.05 billion yuan, a year-on-year increase of 4.88% [2]. - The net profit for 2024 was 2.32 billion yuan, reflecting a year-on-year growth of 5.80% [2]. - The bank's net interest income was 9.23 billion yuan, down from 10.36 billion yuan in 2023 [2]. - The total assets of Guilin Bank reached 576.45 billion yuan by the end of 2024, marking a growth of 6.23% from the beginning of the year [3]. - Total deposits amounted to 391.78 billion yuan, up 3.47% year-on-year [3]. - Total loans increased to 360.28 billion yuan, representing a growth of 10.93% [3]. Leadership Changes - Chairman Wu Dong has resigned, with President Zhang Xiande taking over the chairman's responsibilities [4]. - Wu Dong served as chairman since early 2020, completing over five years in the role [6]. IPO Progress - Guilin Bank is currently in the IPO counseling phase, having initiated this process on August 10, 2023, and completed the seventh phase of counseling in April 2024 [10][12]. - If successful, Guilin Bank could become the first listed bank in Guangxi [12].

Core Viewpoint - Chuangyuan Futures is preparing for an IPO with a counseling period set from January 1, 2025, to April 10, 2025, following its filing on December 29, 2023 [2]. Financial Performance - In the first half of 2024, Chuangyuan Futures reported revenue of 3.099 billion yuan, representing a year-on-year increase of 39.74% [2][3]. - The net profit attributable to shareholders decreased by 24.16% to 21.13 million yuan compared to the same period last year [2][3]. - The gross profit margin fell to 0.94% from 1.69% year-on-year [3]. - The basic earnings per share decreased by 33.33% to 0.02 yuan [3]. Management Team - Wu Wensheng serves as the Chairman and has been with the company since 2011, holding various positions prior [4]. - Dong Jingsu is the General Manager and Board Secretary, with a history in the company since 2004 [5]. - Bu Liuqi is the Chief Risk Officer, with extensive experience in the futures and securities industry since 1990 [5].