Core Viewpoint - Tianjin Bank has reported its mid-year performance for 2025, showing growth in both revenue and net profit despite challenges in the macroeconomic environment and narrowing net interest margins [3][4]. Financial Performance - As of June 2025, Tianjin Bank's total assets reached 965.675 billion yuan, a year-on-year increase of 4.3%, with operating income of 8.83 billion yuan, up 0.8%, and net profit of 2.01 billion yuan, up 1.6% [3][4]. - The bank's non-performing loan (NPL) ratio remained stable at 1.70%, while the provision coverage ratio improved to 171.29%, an increase of 2.08 percentage points from the previous year [3][4]. Market Position - Tianjin Bank's performance reflects a "scale-leading, profit-pressured" characteristic, positioning it in the mid-tier of the industry compared to peers like Qingdao Bank, which has a lower asset total but higher profitability [4][5]. - The bank's net interest margin was reported at 1.47%, a decrease of 0.13 percentage points year-on-year, indicating challenges in asset pricing capabilities [4][5]. Business Structure - The bank's loan balance reached 471.033 billion yuan, growing by 6.9% year-on-year, with corporate loans being the main contributor, while personal loans decreased by 8.1% [5][6]. - Interest income fell to 15.14 billion yuan, a decline of 5.1%, and investment income also decreased by 15.5%, reflecting the bank's struggle to balance asset returns and risk [6]. Historical Context - Tianjin Bank has evolved from a local bank to a regional financial leader, having undergone significant transformations since its establishment in 2000 and subsequent public listing in 2015 [6][7]. - The bank has raised approximately 15 billion HKD through H-share issuance, enhancing its capital base for business expansion and risk management [7]. IPO Progress - As of August 13, 2025, Tianjin Bank's A-share IPO process has entered its 28th phase, with ongoing guidance from Zhongyin Securities and CITIC Securities, marking nearly ten years since the initial IPO counseling began [8][9]. - The bank faces significant hurdles in obtaining external approvals necessary for its IPO, which are critical for its capital replenishment and growth strategy [9][10].

Group 1 - The recent developments in A-share IPOs for commercial banks indicate a trend of withdrawals, with Guangdong Shunde Rural Commercial Bank and its sponsor retracting their application, leading to the termination of the review process by the Shenzhen Stock Exchange [1] - The IPO application for Guangdong Shunde Rural Commercial Bank was accepted in March 2023, but the review process lasted over two years, during which the bank had to submit updated financial information multiple times due to expiration [1] - Other banks, such as Guangzhou Bank, have also withdrawn their IPO applications, with reasons often related to strategic planning adjustments [1] Group 2 - Currently, five banks are in the IPO process, including Dongguan Bank and Guangdong Nanhai Rural Commercial Bank, which have recently updated their financial information and had their IPO status restored to "accepted" [2] - The remaining three banks in the IPO pipeline are Huzhou Bank, Hubei Bank, and Jiangsu Kunshan Rural Commercial Bank, all categorized as regional small and medium-sized banks, with their review statuses updated in 2023 [2] - Experts note that the slow progress of A-share bank IPOs is evident, with no banks listed since Lanzhou Bank in January 2022, although a recovering market environment may encourage more small and medium-sized banks to pursue IPOs [2]

Group 1 - The core point of the article is the withdrawal of Shunde Rural Commercial Bank's IPO application, which has led to a reduction in the number of banks waiting for A-share listings to five [2][4][6] - Shunde Rural Commercial Bank had been in the IPO process since 2017, with its application being accepted by the China Securities Regulatory Commission in 2019, but faced multiple interruptions and delays in recent years [3][4] - The bank's decision to withdraw its IPO application is attributed to a strategic planning adjustment, and it currently has no plans for an H-share listing [4] Group 2 - The bank has experienced a decline in profitability, with net profit showing a "three consecutive declines" trend, reporting a total profit of 33.97 billion yuan in 2024, down 7.17% year-on-year [4][5] - Despite the profit challenges, Shunde Rural Commercial Bank plans to distribute 39.99% of its net profit, amounting to 12.71 billion yuan, to shareholders [5] - The bank's asset quality is under scrutiny, with non-performing loans increasing to 40.49 billion yuan, resulting in a non-performing loan ratio of 1.61%, up 0.13 percentage points from the previous year [5] Group 3 - The overall progress of bank IPOs has slowed, with no new listings since Lanzhou Bank in January 2022, and several banks, including Shunde Rural Commercial Bank, withdrawing their applications [6][8] - Currently, there are 15 banks in the listing guidance phase, with many smaller banks opting for IPOs in Hong Kong instead [8] - Factors contributing to the stagnation of A-share IPOs include stricter regulatory reviews, limited market capacity, and prolonged IPO waiting periods [8]

Core Viewpoint - A total of 23 small and medium-sized banks are preparing for A-share IPOs, with recent developments indicating a potential restart of the IPO process for some banks after a prolonged hiatus since early 2022 [2][6]. Group 1: IPO Progress - Dongguan Bank and Nanhai Rural Commercial Bank have resumed their IPO review process after updating their financial documents, which had previously caused their applications to be put on hold [3][4]. - As of July 3, there are 6 banks waiting for A-share IPO approval, including 3 city commercial banks and 3 rural commercial banks, while 16 additional banks are in the listing guidance phase [3][7]. Group 2: Financial Performance - Dongguan Bank reported a revenue of 10.197 billion yuan in 2024, a decrease of 3.69% year-on-year, and a net profit of 3.733 billion yuan, down 8.2% [4]. - Nanhai Rural Commercial Bank achieved a revenue of 6.429 billion yuan in 2024, a decline of 6.3%, but its net profit increased by 2.99% to 2.453 billion yuan [4]. - The total assets of Nanhai Rural Commercial Bank reached 331.69 billion yuan by the end of 2024, reflecting an increase of 8.92% [4]. Group 3: Asset Quality - Dongguan Bank's non-performing loan (NPL) ratio stood at 1.01% at the end of 2024, indicating a relatively strong asset quality among city commercial banks [4]. - Nanhai Rural Commercial Bank's NPL ratio was 1.43%, which decreased by 0.06 percentage points compared to the previous year [4][5]. Group 4: Market Context - The A-share IPO market for banks has been stagnant for nearly three years, with the last bank, Lanzhou Bank, going public in January 2022 [6]. - The recent developments regarding Dongguan Bank and Nanhai Rural Commercial Bank have reignited interest in the IPO prospects of city and rural commercial banks [7][8].