Core Viewpoint - The restructuring of local state-owned capital in Chongqing Bank involves the unconditional transfer of 100% equity of Chongqing Yuli Material Co., Ltd., indicating an ongoing optimization of financial equity layout by local state-owned enterprises [1][2]. Group 1: Shareholder Structure Adjustment - Chongqing Bank announced that its shareholder Chongqing Yufu Capital Operation Group Co., Ltd. and its concerted actors have undergone changes, with Chongqing Yuli Material Co., Ltd. no longer being a concerted actor after the unconditional transfer of its 100% equity [1]. - The transfer of Yuli Material's equity, which holds approximately 62,900 shares of Chongqing Bank (about 0.02% of total share capital), has been completed and registered with the market supervision administration [1]. - The adjustment aims to implement the spirit of recent Chongqing municipal party committee meetings and government directives, focusing on enhancing core functions and optimizing reforms [1]. Group 2: Context of Local State-Owned Capital Adjustments - Yufu Capital is the third-largest shareholder of Chongqing Bank, holding a 12.14% stake, fully controlled by Chongqing Yufu Holding Group Co., Ltd., which is wholly owned by the Chongqing State-owned Assets Supervision and Administration Commission [2]. - The equity adjustment is part of an internal restructuring within the local state-owned capital system and does not involve external transfers or changes in control of Chongqing Bank [2]. - Throughout 2025, various financial institutions have seen similar unconditional equity transfers, with local state-owned capital optimizing their control over quality financial assets to stabilize regional financial systems [3].

Core Viewpoint - The shareholder structure of Chongqing Bank has undergone adjustments, with the 100% equity of Chongqing Yuli Material Co., Ltd. being transferred without compensation, indicating ongoing optimization of local state-owned capital's financial equity layout [1][3]. Group 1: Shareholder Changes - Chongqing Yuli Material Co., Ltd. will no longer be a concerted actor of Chongqing Yufu Capital after the transfer of its 100% equity [1][3]. - Chongqing Yufu Capital remains the third-largest shareholder of Chongqing Bank, holding a 12.14% stake, fully controlled by Chongqing Yufu Holding Group, which is wholly owned by the Chongqing State-owned Assets Supervision and Administration Commission [3]. Group 2: Regulatory and Strategic Context - The adjustment is in line with the directives from the Chongqing Municipal Party Committee and the latest work deployment from the municipal government, aiming to enhance core functions and optimize the integration and reform of state-owned assets [3]. - The transfer of equity is part of a broader trend where local state-owned capital is restructuring its financial equity holdings to strengthen control over quality financial assets and promote regional financial stability [6]. Group 3: Industry Trends - There has been a notable increase in the number of financial institutions undergoing equity transfers without compensation throughout the year, reflecting a trend of internal restructuring within the local state-owned capital framework [5][6]. - Other examples include Jiangsu Traffic Holding Co., Ltd. receiving shares from Nanjing Bank and Qingdao Guoxin Financial Holding Group initiating a share increase plan to become the largest shareholder of Qingdao Bank [6].