近日，郑州银行发布了2025年三季报。财报显示，前三季度实现营业收入93.95亿元，同比增长3.91%；归属于本行股东的净利润22.79亿元，同比增长 1.56%。虽然郑州银行今年前三季度营收和净利润现双增，但该行今年走势疲弱，至今逆势下跌2%。从2022年底至2025年三季度末，郑州银行资本充足率 持续下滑。 资本充足率持续下降 此外，河南国原贸易有限公司持有的1.21亿股限售股将于11月27日解禁，分别于12月初两次在阿里司法拍卖平台公开竞价，合计起拍价2.21亿元，每股起 拍价1.83元。但相关股权司法拍卖信息显示，截至10月底仍无人报名拍卖。 财报显示，郑州银行第三季度实现营业收入27.05亿元，同比增长2.15%；归属于母公司股东的净利润为6.52亿元，同比增长0.22%。 从2025年三季报来看，虽然郑州银行前三季度非利息收入达到15.79亿元，同比增长显著，但同样其中投资收益与公允价值变动贡献较大，波动性强，难 以形成稳定的盈利支撑。尤其是该行手续费及佣金净收入在今年前三季度里持续下滑：第三季度为3.25亿元，同比下降7.09%，主因代理托管、银行卡、 承兑担保等传统中间业务收入收缩，零售与对公 ...

Core Viewpoint - The recent performance data of Dongguan Bank and Nanhai Rural Commercial Bank raises concerns about their prospects for A-share IPOs, as both banks have experienced significant declines in revenue and net profit in the first half of 2025 [2][3]. Financial Performance - In the first half of 2025, Dongguan Bank reported revenue of 4.97 billion yuan, a year-on-year decline of 8.02%, and a net profit of 2.36 billion yuan, down 1.4% [3]. - Nanhai Rural Commercial Bank's revenue was 3.28 billion yuan, a decrease of 8.2%, with a net profit of 1.39 billion yuan, down 14.2% [3]. - Both banks continued the downward trend observed in 2024, with Dongguan Bank's revenue and net profit declining by 3.7% and 8.2% respectively, while Nanhai's revenue fell by 6.3% [3]. Interest Margin and Asset Growth - The net interest margin for Dongguan Bank and Nanhai Rural Commercial Bank has decreased to 1.11% and 1.08% respectively, significantly lower than the industry average of 1.42% [3][4]. - Total assets for Dongguan Bank reached 677 billion yuan, growing by 5% year-on-year, while Nanhai's total assets were 337.71 billion yuan, also up by 5.2% [4]. Investment Income Dependency - Nanhai Rural Commercial Bank's investment net income accounted for 44.1% of its revenue, the highest among all A-share listed city commercial banks, while Dongguan Bank's investment net income represented 29.8% of its revenue [7]. - Both banks have seen increased volatility in non-interest income, with Dongguan Bank's non-interest income showing mixed results, including a significant loss in fair value changes [6][7]. Capital Adequacy and IPO Challenges - Dongguan Bank's core Tier 1 capital adequacy ratio decreased from 9.31% at the beginning of the year to 9.24% by mid-year, while Nanhai's ratio fell from 13.52% to 12.4% [8][9]. - The prolonged wait for an IPO, with Dongguan Bank having submitted its application in 2008 and Nanhai in 2018, highlights the increasing uncertainty surrounding bank listings in the current market environment [8][9].