能否跨越上市"最后一公里"？ 《投资者网》叶观复 二次辅导"卡壳" 事实上，早在2017年5月，该行便与中信建投证券签署辅导协议，开启首轮上市筹备。至2020年11月，辅导工作宣告完成，彼时券商在总结报 告中称："该行各方面运行已基本规范，不存在影响发行上市的实质问题，具备发行上市的基本条件。" 此后四年间，IPO进程戛然而止，无任何官方进展披露。市场普遍猜测，或与当时农商行整体上市政策收紧、股权结构复杂、不良资产隐忧等 因素有关。 2023年2月，杭州联合银行重启上市辅导，正式开启"二次冲刺"。截至目前，辅导期已进入第十一期，时间跨度超过两年半。最新报告显示， 当前主要问题集中在两个层面：一是尚未取得浙江省国资监管机构关于国有股权设置方案的批复；二是尚需行业监管部门出具上市批复及监管 意见书。 换言之，尽管杭州联合银行在财务指标和资产规模上已达到上市门槛，但"合规性"与"监管认可度"正成为其能否真正迈入资本市场的决定性因 素。 对这家总资产逼近6000亿元的农商行而言，IPO已不仅是融资工具，更是倒逼自身完成现代化公司治理转型的关键契机。而能否跨越这"最后 一道监管门槛"，将直接检验其从地方银行向公众公司蜕 ...

Core Viewpoint - The IPO process for small and medium-sized banks in A-shares has significantly slowed down, with 15 banks currently in the listing guidance period, facing common issues related to asset ownership, equity management, and capital supplementation [1][10]. Group 1: Listing Progress and Challenges - Since the listing of Lanzhou Bank in 2022, no new banks have entered the A-share market, indicating a stagnation in the listing process for small and medium-sized banks [1]. - 14 banks, including Beijing Rural Commercial Bank and Guilin Bank, have recently disclosed their guidance progress reports, highlighting ongoing issues that have been repeatedly mentioned in previous rounds of guidance [1][10]. - The registration system has intensified the requirements for the authenticity, accuracy, and completeness of information disclosure, further amplifying the institutional deficiencies accumulated during the early development of these banks [1][9]. Group 2: Common Issues Faced by Banks - Asset ownership issues are prevalent among various banks, with examples including Gansu Bank and Wenzhou Bank, where property rights have not been properly documented [4][5]. - Specific problems include unregistered self-owned properties and non-compliant leased assets, with Gansu Bank reporting ongoing efforts to rectify ownership documentation for properties valued at approximately 143 million yuan [4][5]. - Equity management issues are also significant, with complex ownership structures and non-compliant shareholding practices identified in banks like Urumqi Bank and Fujian Haixia Bank [6][7]. Group 3: Capital Challenges - Many small and medium-sized banks face pressure on capital adequacy ratios, despite some having issued capital tools and conducted capital increases to supplement their capital [10][11]. - For instance, Hankou Bank reported a capital adequacy ratio of 14.38% as of the end of 2024, an increase of 2.54 percentage points from the end of 2023, but still faces ongoing capital consumption pressures [11]. - The need for additional capital channels remains critical, as the IPO process is seen as a key opportunity for these banks to enhance their capital levels and support economic activities [10][11].

Core Viewpoint - The article discusses the challenges faced by small and medium-sized banks in China regarding their IPO processes, highlighting common issues such as asset ownership, equity management, and capital adequacy that hinder their progress in the capital market [1][10]. Group 1: Asset Ownership Issues - Asset ownership problems are prevalent among the banks undergoing IPO preparations, with several institutions like Gansu Bank and Wenzhou Bank disclosing ownership flaws in their reports [3][5]. - Two main types of asset ownership issues are identified: self-owned assets lacking proper ownership certificates and non-compliant leased assets [4]. - For instance, Gansu Bank is still in the process of obtaining ownership certificates for properties valued at approximately 143 million yuan, while also facing issues with unregistered leased properties [4][5]. Group 2: Equity Management Challenges - Many banks are struggling with equity management, including complex ownership structures and non-compliant shareholding [6][7]. - Urumqi Bank has a complicated equity structure due to historical reasons, and is working on capital increase to optimize its equity structure [7]. - Violations of shareholding regulations are noted in several banks, such as Huishang Bank and Jiangnan Rural Commercial Bank, where individual employee holdings exceed the regulatory limit [8][9]. Group 3: Capital Adequacy Pressures - Capital adequacy remains a significant challenge for many small and medium-sized banks, with some banks like Hankou Bank needing to supplement capital through various channels [10]. - Hankou Bank's capital adequacy ratio improved to 14.38% by the end of 2024, but ongoing business development continues to exert pressure on capital levels [10]. - The article emphasizes that addressing asset ownership, equity structure, and capital adequacy issues is crucial for these banks to progress towards their IPO goals [10].

Core Viewpoint - Guilin Bank is facing multiple crises, including a prolonged IPO process, declining performance, risk management failures, and the fall of its chairman, which raises significant concerns about its governance and financial health [1][12][15]. Financial Performance - As of September 2025, Guilin Bank's total assets exceeded 600 billion yuan, but its revenue and net profit declined by 2.45% and 7.58% year-on-year, respectively [1][3]. - The bank's net interest income showed weak growth, with interest income dropping from 17.44 billion yuan in 2024 to 16.39 billion yuan in 2025, a decrease of 6.0% [2][3]. - The bank's non-performing loan (NPL) ratio rose to 1.94%, while the provision coverage ratio fell to 120%, just meeting regulatory requirements [9][10]. Governance Issues - The former chairman, Wu Dong, was expelled from the party and public office due to serious violations, raising questions about the bank's internal governance and decision-making processes [12][13]. - Wu's misconduct included accepting bribes and misusing funds, which has led to a loss of confidence in the bank's governance structure [12][13]. Regulatory Compliance - Guilin Bank's capital adequacy ratios have declined, with the overall capital adequacy ratio at 11.46%, down 0.28 percentage points from the previous year [7][8]. - The bank has faced regulatory scrutiny for its fund sales practices, revealing compliance management gaps [4]. IPO Challenges - Guilin Bank's IPO ambitions have been stalled for over a decade, with unresolved historical issues and a lack of progress in addressing them [14][15]. - The current market conditions for bank IPOs are challenging, with no successful listings since 2022, further complicating Guilin Bank's prospects [15].

Core Viewpoint - Xinjiang Bank is actively expanding its capital and consolidating its position in the regional banking sector through a series of strategic moves, including a significant capital increase and the absorption of another bank, while also preparing for an IPO to enhance its financial capabilities and support local economic development [2][3][4][5]. Capital Increase and Shareholder Changes - Xinjiang Bank's capital increase plan has been approved, raising its total share capital from 79.06 billion shares to 122.23 billion shares through a targeted fundraising of 43.17 billion shares [3][4]. - Xinjiang Financial Investment Group will become the largest shareholder with a 30.9% stake after acquiring 37.77 billion shares [3][4]. Mergers and Acquisitions - The bank has received approval to absorb Xinjiang Huihe Bank, which will dissolve, with all its assets, liabilities, and operations being taken over by Xinjiang Bank [4]. - This merger reduces the number of city commercial banks in Xinjiang to four, indicating a trend towards consolidation in the regional banking sector [4]. IPO Preparation - Xinjiang Bank was included in the 2025 annual reserve list of companies for potential IPOs, marking it as a key financial institution for future capital market engagement [5]. - The bank has initiated the process of hiring financial advisors for its IPO, indicating a proactive approach to enhance its market presence [6]. Financial Health and Strategic Focus - As of September 2025, Xinjiang Bank's capital adequacy ratios have declined, highlighting the need for capital replenishment amid rapid credit growth [6]. - Experts emphasize the importance of balancing growth, asset quality, and risk management, suggesting a shift from rapid expansion to high-quality development [7].

Core Viewpoint - Six rural banks in Sichuan have been approved for dissolution and will be absorbed by Chengdu Rural Commercial Bank, which may help reduce non-performing assets and improve capital adequacy ratio, potentially facilitating its IPO process [1][2][3]. Group 1: Merger and Acquisition Details - The six dissolved rural banks are located in Sichuan and include Zizhong Zhongcheng Rural Bank, Emeishan Zhongcheng Rural Bank, Qianwei Zhongcheng Rural Bank, Changning Zhongcheng Rural Bank, Nanbu County Zhongcheng Rural Bank, and Junlian Zhongcheng Rural Bank [2]. - Chengdu Rural Commercial Bank holds significant stakes in these banks, with ownership percentages ranging from 81% to 100% [3]. - The merger is expected to lower operational costs and enhance asset quality through unified management, addressing the common issues of small scale and weak risk control in rural banks [3]. Group 2: IPO Preparation and Challenges - Chengdu Rural Commercial Bank has been preparing for its IPO since December 2021, with CITIC Securities as its sponsor [4]. - The bank faced regulatory challenges, including a significant fine in late 2021 for multiple violations, which cast a shadow over its IPO prospects [4]. - The bank's IPO process has been complicated by historical issues such as asset ownership disputes and unresolved legal matters, which are being monitored by its advisory firm [5][6]. Group 3: Financial Performance - As of mid-2025, Chengdu Rural Commercial Bank reported a revenue of 9.537 billion yuan, a year-on-year increase of 8.45%, and a net profit of 4.231 billion yuan, up 7.63% [6]. - The bank's total assets reached approximately 983.678 billion yuan, reflecting an 11.8% growth compared to the previous year [6]. Group 4: Leadership Changes and Future Outlook - A new chairman, Wang Hui, has been appointed, who has extensive experience in the banking sector and previously led Chengdu Bank to a successful IPO [7][8]. - Experts believe that Wang's experience could provide a replicable model for Chengdu Rural Commercial Bank's IPO, but the speed of rectifying historical asset and ownership issues will be crucial [8].

Core Viewpoint - The Xinjiang Financial Regulatory Bureau has approved a capital increase of 620 million yuan for Urumqi Bank, raising its registered capital from 4 billion yuan to 4.62 billion yuan, thereby strengthening its capital base [1][2] Group 1: Company Background - Urumqi Bank, established in December 1997, is the first local joint-stock bank in Xinjiang with independent legal status, originally formed from 38 urban credit cooperatives [1] - The bank has undergone several name changes, becoming Urumqi Commercial Bank in July 1998 and Urumqi Bank Co., Ltd. in December 2015 [1] - Currently, Urumqi Bank has a total share capital of 4 billion shares, employs over 2,300 staff, and operates 97 branches, with additional branches in six locations including Changji, Aksu, and Ili [1] Group 2: Management Changes - Prior to the capital increase approval, Urumqi Bank experienced a round of executive changes, including the resignation of former Chairman Ren Siyu and former President Wang Hui [1] - Wang Hui has been appointed as the new Chairman, and Li Xingsheng's qualifications as President were also approved, indicating a stabilization of the management team [1] Group 3: IPO Preparation - Urumqi Bank's IPO preparation has entered its eighth year, having signed a listing guidance agreement with Haitong Securities in March 2017, but has faced challenges due to complex equity structure and frequent management changes [2] - The bank is currently in the "guidance filing acceptance" stage and aims to enhance its equity confirmation ratio to over 95% in 2024 [2] - In June 2025, the Xinjiang Financial Regulatory Bureau approved the transfer of 14.22% of Urumqi Bank's shares from one major shareholder to another, which is expected to optimize the bank's equity structure [2] Group 4: Financial Performance - Urumqi Bank has shown steady revenue growth over the past three years, with revenues of 2.987 billion yuan, 3.456 billion yuan, and 4.251 billion yuan for 2022, 2023, and 2024 respectively, and net profits of 873 million yuan, 1.035 billion yuan, and 938 million yuan [2] - The bank's non-performing loan ratio increased from 0.92% to 1.95% in 2024, indicating some pressure on asset quality [2] - The completion of the capital increase is expected to improve the bank's capital adequacy ratio, supporting its future business expansion and IPO preparations [2]

Core Viewpoint - Hunan Bank is set to complete its first large-scale capital increase, with the approval from the China Securities Regulatory Commission (CSRC) to issue 1 billion shares to specific state-owned entities, which will increase its total share capital to 8.75 billion shares, further enhancing the state-owned shareholding ratio [1][4]. Group 1: Capital Increase Details - The capital increase will raise the state-owned shareholding ratio from 81.77% at the end of last year to nearly 84% after the issuance [4][5]. - The bank's major shareholders include Hunan Caixin Financial Holding Group (20.53%), Central Huijin Investment (20%), and Hunan Caixin Investment Holding (14.96%) [4][5]. - The capital increase is seen as a strategic move to enhance the bank's capital adequacy and optimize its capital structure in response to a complex economic environment [6]. Group 2: Financial Performance - Hunan Bank reported total assets of approximately 601.94 billion yuan and a net profit of 1.943 billion yuan for the first half of 2025, reflecting a year-on-year decline in revenue and profit [7][8]. - The bank's non-performing loan ratio increased to 1.66%, while its capital adequacy ratios showed a slight decline, indicating a need for improved capital stability [9]. Group 3: Future Outlook - The capital increase is viewed as a crucial step towards Hunan Bank's goal of going public within five years, with market attention focused on whether this will lead to the initiation of listing guidance [7][10]. - The bank aims to balance growth, asset quality, and stable operations, transitioning from rapid expansion to high-quality development [10].

Core Viewpoint - Guilin Bank has faced significant setbacks in its IPO preparations, particularly following the removal of its former chairman, Wu Dong, due to violations of regulations and potential criminal issues [2][5][7]. Group 1: Company Leadership Changes - Wu Dong was expelled from the party and public office in July 2025, with allegations of corruption leading to his prosecution [2][5]. - Following Wu Dong's resignation, Zhang Xiande has taken over as acting chairman, while Lei Ming has been appointed as acting president [6][7]. Group 2: IPO Preparation Status - Guilin Bank initiated its A-share IPO counseling in August 2023, but still faces two major issues: the need to clarify property rights for some real estate and ongoing legal disputes [4][7]. - The bank's IPO plans date back to 2011, with various attempts and strategic shifts over the years, including a failed application for the New Third Board in 2015 [7]. Group 3: Financial Performance - As of mid-2025, Guilin Bank reported total assets of 594.25 billion, with a slight decline in operating income to 6.644 billion, down 0.92% year-on-year, while net profit increased by 0.95% to 1.791 billion [7]. - The bank's non-performing loan ratio rose to 1.87%, exceeding the average of 1.76% for domestic city commercial banks, and its provision coverage ratio fell to 130.88%, significantly below the industry average of 185.53% [8]. Group 4: Employee Statistics - The total number of employees at Guilin Bank decreased by approximately 2.98% to 7,589 compared to the end of the previous year, with declines across various categories of staff [8].

Core Points - Huzhou Bank was fined 4.27 million yuan for multiple business violations, marking the largest penalty since its establishment [1][2][3] - The violations included breaches of financial statistical management, account management, merchant management, anti-counterfeit currency regulations, and improper handling of customer identity data [3][6] - The bank's total assets reached 162.04 billion yuan by the end of 2024, with a net profit of 1.09 billion yuan and a non-performing loan ratio of 0.98% [5][6] Regulatory Actions - The People's Bank of China, Zhejiang Branch, issued a warning and imposed a fine of 4.27 million yuan on Huzhou Bank for various regulatory breaches [1][3] - Several senior officials were penalized, including the general manager of the Operations Management Department and the Retail Banking Department, each fined 50,000 yuan for their respective violations [3][6] IPO Status - Huzhou Bank has been preparing for an IPO since 2019 but has not yet achieved this goal, with its application currently in the "inquiry" stage [5][6] - The bank's IPO process has faced delays, particularly after its application was transferred to the Shanghai Stock Exchange following the implementation of the A-share registration system in 2023 [5][6] Industry Context - The recent penalty adds uncertainty to Huzhou Bank's IPO prospects, reflecting a trend of increasing regulatory scrutiny on financial institutions, especially smaller banks [6]