Official announcement! The qualification for the position of another bank president has been approved. Shengjing Bank | President | Official Announcement

On July 13th, Shengjing Bank announced that its President Liu Xu's qualifications for the position have been approved by regulatory authorities.

The specific details are as follows——

Liu Xu's job qualification has been officially approved

The announcement shows that Shengjing Bank has recently received a reply from the Liaoning Regulatory Bureau of the China Banking and Insurance Regulatory Commission regarding the qualification of Liu Xu to serve as the President of Shengjing Bank, stating that he has been approved. Liu Xu's term as the President of the bank shall commence from the date of receipt of approval and shall continue until the end of the term of this Board of Directors.

According to the resume, Liu Xu is 55 years old, with a Bachelor's degree in Economics from Liaoning University and a Senior Economist. Previously served as Vice President of Shengjing Bank.

On May 11, 2022, the board of directors of the bank approved the nomination of Liu Xu as a candidate for executive director of Shengjing Bank. Before joining Shengjing Bank, Liu Xu served as a member of the Party Committee and Vice President of the Northeast Training Institute of China Construction Bank Training Center from September 2021 to April 2022. From July 1990 to September 2021, Liu Xu served as the General Manager of the Corporate Business Department and Director of the Enterprise Pension Center, Assistant to the President, and Vice President of the Liaoning Branch of China Construction Bank.

On April 11th of this year, Shengjing Bank announced that due to work adjustments, Shen Guoyong resigned from his positions as President, Executive Director, Deputy Director of the Risk Control and Consumer Rights Protection Committee of the Board of Directors, and member of the Strategic Development Committee of the Board of Directors. He will no longer serve as Chairman, Director of the Strategic Development Committee of the Board of Directors, and Deputy Director of the Nomination and Compensation Committee.

At the same time, the nomination is for the position of Executive Director candidate of Shengjing Bank. According to the media at the time, Sun Jin was recently appointed as the Party Secretary of Shengjing Bank by the Shenyang Municipal Party Committee. According to regulatory guidelines, the company's articles of association, and the practices of state-owned banks, after Sun Jin serves as the Party Secretary, he is generally selected as the chairman of the bank.

This also means that Shengjing Bank will usher in a new era of "helmsmen" and important management adjustments.

According to the resume, Sun Jin is currently 50 years old, a doctoral student in finance at Northeastern University of Finance and Economics, a senior economist, and a "veteran" who has worked in the Chinese banking system for nearly 29 years. Before joining Shengjing Bank, Sun Jin was the Vice President and Party Committee Member of Bank of China Liaoning Branch.

Strengthening the control of its subsidiary consumer finance companies

It is worth mentioning that just a few days ago, the equity of Shengyin Consumer Finance, a subsidiary of Shengjing Bank, also underwent new changes.

On July 10th, according to the approval information from the State Administration of Financial Supervision and Administration, the Liaoning Banking and Insurance Regulatory Bureau agreed that Shunfeng Investment Industrial Co., Ltd. would no longer hold the equity of Shengyin Consumer Finance Co., Ltd. The original investment amount of Shunfeng Investment Industrial Co., Ltd. would be increased by Shengyin Consumer Finance with undistributed profits, and the registered capital would remain unchanged at RMB 300 million.

After this equity change, the shareholder name, contribution amount, and shareholding ratio are Shengjing Bank Co., Ltd., with a contribution amount of 225 million yuan and a contribution ratio of 75%; Dalian Dexu Economic and Trade Co., Ltd., with a contribution amount of 75 million yuan and a contribution ratio of 25%.

In other words, Shengjing Bank's equity stake in its subsidiary Shengyin Consumer Finance has further increased.

A person related to Shengyin Consumer Finance stated that this equity change is based on the company's overall strategic planning. Currently, the development of Shunfeng Industry is not closely related to consumer finance business. We hope that in the future development process, shareholders can continue to better empower our main business and help Shengyin Consumer Finance develop better.

According to the official website of Shengjing Bank, the bank is headquartered in Shenyang City, Liaoning Province. Its predecessor was Shenyang Commercial Bank, which was renamed Shengjing Bank with the approval of the China Banking Regulatory Commission in February 2007. It is a state-owned urban commercial bank in Shenyang City. On December 29, 2014, it was successfully listed on the Main Board of the Hong Kong Stock Exchange.

Recently, Shengjing Bank released its first annual report after returning to state-owned enterprises. According to the 2022 annual report, Shengjing Bank achieved a double increase in revenue and net profit, with a year-on-year increase of 143.8% in net profit attributable to the parent company. However, in the previous two years, the bank's revenue and net profit continued to decline.

According to the annual report, Shengjing Bank achieved a revenue of 16.153 billion yuan in 2022, a year-on-year increase of 4.4%; Realized a net profit of 1.019 billion yuan, a year-on-year increase of 136.6%; The net profit attributable to the shareholders of the parent company was RMB 980 million, a year-on-year increase of 143.8%.

In addition, the asset quality of Shengjing Bank has also improved. As of the end of 2022, the non-performing loan ratio has decreased by 0.06 percentage points to 3.22%. At the same time, the provision coverage rate increased by 9.43 percentage points to 140.3%.