New stock news | Yibin Commercial Bank passed the hearing of the Hong Kong Stock Exchange, and the financial services entity is steadily advancing.

According to the disclosure by the Hong Kong Stock Exchange on December 20, Yibin City Commercial Bank Co., Ltd. (referred to as "Yibin Commercial Bank") has been audited by the Hong Kong Stock Exchange, with CCB International and ICBC International as its joint sponsors. The prospectus shows that Yibin Commercial Bank was established in Yibin City, Sichuan Province in 2006 and is a city commercial bank. According to data from the Yibin Regulatory Branch of the National Financial Supervision and Administration Bureau, as of December 31, 2023, the company is the largest bank in Yibin City in terms of total assets. The company utilizes regional resource advantages, deeply integrates with the local economy, and develops financial products and services. Yibin Commercial Bank strategically combines its banking business with the economic development of Yibin City, establishing specialized industry research teams and professional branches to serve various scale enterprises in the regional competitive industry. Since its establishment, the company has integrated with the booming local economy of Yibin City and Sichuan Province, providing tailored financial services to local enterprises and residents to meet their specific needs. Relying on Yibin's rapidly growing population and domestic demand market development in retail banking, the company has established an interconnected retail ecosystem by implementing the concept of a "large retail bank", connecting retail, corporate, and financial market businesses. By collecting customer needs and preference data from different types of services, the company provides personalized financial products and services for local residents and individual business owners. Through promoting the development of different businesses, the company continuously strives to create a comprehensive and smooth banking experience for customers. As of June 30, 2024, the company's total customer deposits (excluding accrued interest) and total customer loans and advances were RMB 78.506 billion and RMB 54.82 billion, respectively. During the track record period, loans were the largest component of Yibin Commercial Bank's loan portfolio, accounting for 79.2%, 79.0%, 76.2%, and 76.4% of the total customer loans and advances as of December 31, 2021, 2022, 2023, and June 30, 2024, respectively. As of June 30, 2024, the top five industries for company loans were (i) wholesale and retail trade; (ii) construction; (iii) manufacturing; (iv) rental and business services; and (v) agriculture, forestry, animal husbandry, and fishing. The company's service network is integrated with the vibrant economic mechanism of Sichuan Province and the Chengdu-Chongqing Economic Circle. The company focuses on building a digital system, enhancing financial technological capabilities, and providing distinctive digital services through multiple channels such as the "1+N" supply chain financial service model. As of the last practicable date, the company's branch network includes 40 facilities (including 39 branches and one headquarters) spread across Yibin and Neijiang. The company is also committed to integrating online electronic banking channels and offline branch networks and facilities, continuously expanding business channels and customer base to effectively meet the diverse needs of customers, ensuring that the company's financial products and services can reach the intended customer base. Financially, in 2021, 2022, 2023, as well as January-June 2023 and January-June 2024, the company's revenue was approximately RMB 1.621 billion, 1.867 billion, 2.17 billion, 1.076 billion, and 1.078 billion respectively; the corresponding net profits were approximately RMB 328 million, 433 million, 477 million, 255 million, and 262 million respectively.