Group 1: IPO Withdrawals - Two companies withdrew their IPO applications during the week of June 30 to July 6, 2025, including one from the Shenzhen Main Board and one from the ChiNext Board [1] - The companies involved are Guangdong Shunde Rural Commercial Bank and China Shipbuilding Double Rui (Luoyang) Special Equipment Co., Ltd [2] Group 2: Guangdong Shunde Rural Commercial Bank - The bank was established on December 22, 2009, and is one of the first rural commercial banks in Guangdong Province [3] - As of June 30, 2024, the bank's total assets amounted to RMB 483.145 billion, with total loans and advances of RMB 255.158 billion and customer deposits of RMB 339.774 billion [4] - The bank reported a non-performing loan ratio of 1.43% and maintained capital adequacy ratios of 14.92%, 12.55%, and 11.86% for total capital, tier 1 capital, and core tier 1 capital respectively [4] - The withdrawal of the IPO application is attributed to the lack of support from regulatory authorities for bank IPOs and the company's failure to meet the standards for listing on the main board [4] Group 3: China Shipbuilding Double Rui (Luoyang) Special Equipment Co., Ltd - The company specializes in the research, development, manufacturing, and sales of bridge safety equipment, pipeline compensation equipment, special material products, and energy storage equipment [5] - As of June 30, 2024, the company's total assets were RMB 303.222 million, with total equity of RMB 153.382 million and a debt-to-asset ratio of 49.42% [6] - The company reported a revenue of RMB 74.317 million and a net profit of RMB 5.126 million for the first half of 2024 [6] - The withdrawal of the IPO application is due to the company's relatively small size and single business focus compared to other subsidiaries of China Shipbuilding Group, as well as concerns regarding the high sales service fees [6]

Core Viewpoint - The A-share listed rural commercial banks demonstrated strong resilience in Q1 2025, with all 10 banks achieving positive net profit growth, highlighting their robust financial performance despite market pressures [1][5][6]. Financial Performance - All 10 A-share listed rural commercial banks reported positive net profit growth in Q1 2025, with Changshu Bank leading at a 13.81% year-on-year increase [1][7]. - Eight banks experienced positive revenue growth, while two banks, Shanghai Rural Commercial Bank and Zijin Bank, reported declines in revenue [1][5][6]. - Revenue figures for major banks include: - Chongqing Rural Commercial Bank: 72.24 billion yuan, up 1.35% - Shanghai Rural Commercial Bank: 65.60 billion yuan, down 7.41% - Qingnong Bank: 30.57 billion yuan, up 0.99% - Changshu Bank: 29.71 billion yuan, up 10.04% [3][5][6]. Asset Quality - As of the end of March, seven banks had non-performing loan (NPL) ratios below 1%, with Changshu Bank, Wuxi Bank, and Jiangyin Bank all below 0.9% [1][15]. - Qingnong Bank had the highest NPL ratio at 1.77%, despite a slight decrease from the previous year [1][15]. Asset Scale - Chongqing Rural Commercial Bank and Shanghai Rural Commercial Bank both exceeded 1.5 trillion yuan in total assets, with Chongqing leading at 1.61 trillion yuan, a 6.3% increase [9][11]. - Qingnong Bank ranked third in total assets at 511.58 billion yuan, while Changshu Bank followed closely with 389.01 billion yuan [11][12]. Interest Margin - The net interest margin for several banks has narrowed, with Zijin Bank reporting the lowest at 1.23%, below the industry average of 1.52% [4][7].