Core Viewpoint - Yibin Bank appointed Jiang Lin as the new president, ending a two-month vacancy following the resignation of former president Yang Xingwang due to personal health reasons. Jiang Lin's extensive experience spans government, corporate, and financial sectors, but the bank faces significant challenges ahead, including a projected revenue growth slowdown and rising non-performing loan rates in the manufacturing sector [2][6][9]. Group 1: Leadership Changes - Jiang Lin was appointed as the president of Yibin Bank and recommended to serve as an executive director after a two-month vacancy [2]. - Jiang Lin's previous attempt to become the bank's vice president was not approved by regulatory authorities, leading to her eventual appointment as president [3][5]. - Jiang Lin has held various positions in government and corporate sectors, including roles at the Sichuan Bank and Wuliangye Group, showcasing a diverse background [4][5]. Group 2: Financial Performance - Yibin Bank's 2024 revenue is projected to be 2.18 billion yuan, reflecting a minimal growth of 0.5%, while net profit is expected to rise only 0.1% to 478 million yuan [6]. - The bank's net interest income decreased by 11.6%, with the net interest margin dropping from 2.18% to 1.71%, a decline of 47 basis points [6]. - The non-performing loan rate improved slightly from 1.76% to 1.68%, but the total non-performing loan balance increased from 904 million yuan to 1.023 billion yuan, indicating ongoing asset quality concerns [6]. Group 3: Sector Challenges - The manufacturing sector's non-performing loan rate surged from 0.84% to 3.79%, a staggering increase of 351%, highlighting significant risks in this area [6][7]. - Company loans constitute nearly 80% of Yibin Bank's loan portfolio, with corporate deposits making up 49.4% and personal deposits at 50.6% [7]. - The bank's focus on corporate lending, while stable, poses risks due to high customer concentration and potential impacts from macroeconomic changes [7]. Group 4: Market Response - Yibin Bank's stock opened at 2.59 HKD on its first trading day and saw minimal movement, closing at 2.6 HKD by June 6 [8]. - The bank's shareholder, Chengdu Southwest Stone City Co., Ltd., faced a failed auction of a 3.52% stake earlier this year, reflecting market caution [8]. Group 5: Future Outlook - The ability of Jiang Lin to lead Yibin Bank through its current challenges and achieve growth remains to be seen, with ongoing monitoring of the situation expected [9].