Core Insights - Shanxi Rural Commercial Bank has accelerated its "upward participation and downward investment" process, recently receiving approval from the Shanxi Financial Supervision Administration to acquire stakes in Shanxi Qingxu Rural Commercial Bank and Shanxi Liulin Rural Commercial Bank, holding 93.2% and 22.68% respectively [1] - The bank was established based on the Shanxi Rural Credit Cooperative Union and is one of the first rural commercial banks to adopt the "upward participation and downward investment" model [1] - As of December 31, 2024, the bank's total assets amounted to 64.575 billion yuan, a decrease of 10.757 billion yuan or 14.28% from the beginning of the year, while total liabilities decreased by 11.246 billion yuan or 16.21% [2] Investment Activities - By the end of 2024, Shanxi Rural Commercial Bank had completed investments in 7 institutions under the "upward participation and downward investment" strategy, with significant acquisitions planned for 2024 and 2025 [2] - In 2025, the bank invested in three rural commercial banks, holding 1.46%, 1.31%, and 1.46% stakes respectively, and acquired a 44.25% stake in Shanxi Houma Rural Commercial Bank [2] Financial Performance - In 2024, the bank achieved a net operating income of 927 million yuan, an increase of 87 million yuan or 10.36% year-on-year, while operating expenses decreased by 33 million yuan or 5.89% [3] - The total profit for 2024 was 405 million yuan, reflecting an increase of 130 million yuan or 47.27% compared to the previous year, despite a decline in asset scale [3] - The bank's board has set ambitious targets for 2025, including a net increase of 100 billion yuan in deposits and 75 billion yuan in loans, with a focus on controlling non-performing asset ratios [3]