Investment Rating - The report maintains a "Buy" rating for the company with a target price of 10.59 RMB [7][5]. Core Views - The major shareholder, Guofa Group, has increased its stake in Suzhou Bank to 15%, becoming the controlling shareholder, which reflects confidence in the bank's development prospects and long-term investment value [1][2]. - Guofa Group plans to further increase its holdings by no less than 400 million RMB over the next six months, indicating strong support for the bank's valuation [2]. - The bank has a clear strategic goal, stable performance growth, and excellent asset quality, which positions it well for future growth [1][4]. Summary by Sections Shareholder Actions - Guofa Group and Dongwu Securities have cumulatively increased their holdings by 13.358 million shares, amounting to over 800 million RMB since the beginning of the year, raising their stake from 14.0% to 15.0% [2]. - Guofa Group has received approval to hold more than 15% of the bank's shares, paving the way for further increases in ownership [2]. Strategic Development - The new leadership team at Suzhou Bank has implemented a comprehensive upgrade of the bank's strategy and organizational structure, leading to steady growth in various business indicators [4]. - The bank has a strong focus on small and medium-sized enterprises, leveraging the robust industrial foundation in Jiangsu province [4]. Financial Performance and Forecast - The report forecasts the bank's net profit for 2025 to be 5.384 billion RMB, with a year-on-year growth rate of 6.24% [5]. - The bank's asset quality remains strong, with a non-performing loan ratio of 0.83% and a provision coverage ratio of 447% as of Q1 2025, placing it among the top tier of listed banks [4]. - The estimated book value per share (BVPS) for 2025 is projected at 10.59 RMB, corresponding to a price-to-book (PB) ratio of 0.83 [5].

南方财经记者在司法拍卖平台注意到，6月24日，历经21轮竞价后，惠州地方国企惠州交投路桥投资有 限公司公开拍下惠州农商银行4500万股股权。此前，今年4月及6月初，惠州农商银行各有4500万股股权 被公开拍卖，分别由惠州仲恺创新投资集团、惠州市惠城区国有资本投资运营有限公司竞得。 上述三家竞得股权的企业均为当地市属或区属国企。其中，惠州交投路桥投资有限公司是惠州农商银行 第二大股东，持股比例为8.13%。若算上此次拍得的股权数，其持股数量增至2.49亿股，将取代太东集 团，成为该行第一大股东。 此外，南方财经记者还注意到，惠州农商银行第四批、共4500万股权拍卖也于近期开始，将于7月2日以 6531万元的起拍价进行第二次拍卖。 21轮竞价，6454万元拿下 此次被拍卖股权是惠州农商银行原第一大股东太东集团有限公司（简称"太东集团"）所持股权。太东集 团及其子公司因涉执行案件，被列为执行人，其持有的惠州农商银行股权今年起分批次进入公开拍卖程 序，前两批股权拍卖已于今年4月和6月初完成，此次成交的是第三批股权。 第三批股权于今年5月第一次挂牌拍卖，起拍价为7938万元，但因无人出价一度流拍。 南方财经记者庞成广州 ...