Core Viewpoint - Huishang Bank announced the resignation of Chairman Yan Chen due to "job transfer," effective July 30, with Yan being appointed as the Director of the Henan Provincial Department of Industry and Information Technology [2][5]. Group 1: Leadership Changes - Yan Chen, born in August 1972, holds a PhD in Economics from Renmin University of China and has a rich career history, including roles at the National Development Bank and various positions in the Anhui provincial government [9][11]. - During Yan's tenure, Huishang Bank experienced continuous asset growth, surpassing 2 trillion yuan by the end of 2024, but the growth rate of net profit has slowed down significantly [11][12]. - The bank's new leadership will be temporarily managed by Executive Director and President Kong Qinglong until a new chairman is elected [12]. Group 2: Financial Performance - Huishang Bank's total assets grew from 1.2717 trillion yuan in 2020 to 2.0138 trillion yuan in 2024, with operating income increasing from 32.29 billion yuan to 37.13 billion yuan during the same period [12]. - The cumulative net profit rose from 9.57 billion yuan in 2020 to 15.917 billion yuan in 2024, but the year-on-year growth rate of net profit declined from 19.8% in 2021 to 6.18% in 2024 [12]. Group 3: Company Background - Established on April 4, 1997, Huishang Bank is the first regional joint-stock commercial bank formed by the merger of urban commercial banks and credit cooperatives in Anhui Province [13]. - The bank was listed on the Hong Kong Stock Exchange in November 2013 and has been preparing for an A-share IPO since 2015, with ongoing listing guidance as of July 2024 [14].