Update on tutoring work progress report, when will the "marathon" of bank IPOs cross the finish line?

Recently, Orient Securities released a progress report on the IPO guidance work of Jiangsu Rugao Rural Commercial Bank Co., Ltd., revealing that there are certain proportion of pledge and freeze issues in its equity structure. Since entering the guidance period at the end of 2018, the bank has been continuously updating reports for several years, but has still not formally submitted an IPO application. The disclosure once again focuses public attention on the long journey of bank IPOs. Currently, the "reserve" team for bank listings is still large, with more than 10 banks including Beijing Rural Commercial Bank, Chengdu Rural Commercial Bank, Hankou Bank, Huishang Bank, Wenzhou Bank, among others, in the stage of IPO guidance filing, with some guidance periods lasting a few years and others lasting over a decade.