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China Fund News reporter Ma Jiaxin

On the evening of August 5, Wuxi Bank issued an announcement stating that the bank had recently received a written resignation report from Chairman Shao Hui, who resigned from all positions at the bank due to work transfer. It is reported that Shao Hui has taken up the post of Party Secretary of Zijin Bank.

Chairman resigns due to job transfer

Wuxi Bank announced that Shao Hui resigned from the company's chairman, executive director and related positions of the board of directors' special committee due to work transfer. The resignation will take effect upon delivery to the board of directors. After the resignation, he will no longer hold any position in the company and has confirmed that he has no disagreement with the company's board of directors and there is no other matter that needs to be notified to the company's shareholders and creditors.

At the same time, Wuxi Bank expressed its gratitude to Shao Hui for his contributions during his tenure.

Wuxi Bank pointed out that during his tenure, he deeply practiced the political and people-oriented nature of financial work, worked diligently and forged ahead, and continuously improved the bank's transformation, reform and development results. At the same time, under his leadership, the bank's comprehensive strength has been further enhanced, transformation and adjustment have made continuous progress, risk management and internal control levels have been steadily improved, and various performance have achieved stable growth.

According to his resume, Shao Hui, male, was born in June 1971, has a bachelor's degree, a master's degree, is an engineer, and has the title of senior economist.

He once worked in Wuxi Tianyuan Electronic Technology Application Engineering Company, and served as assistant chief of the Computer Information Department of Wuxi Suburban Credit Union, deputy director of Ganlu Credit Union of Wuxi Suburban Credit Union (in charge of work), vice president of Xizhou Rural Commercial Bank, vice president of Wuxi Rural Commercial Bank, vice president and president of Wuxi Bank, party secretary and chairman.

It is reported that Shao Hui has taken up the post of Party Secretary of Zijin Bank. On August 5, Zijin Bank issued an announcement nominating Shao Hui as a candidate for the fourth board of directors, and also mentioned that Shao Hui is currently the Party Secretary of the bank.

According to data, Zijin Bank was established in March 2011 and is headquartered in Nanjing. It was formed by the merger of four credit unions in Nanjing City, Jiangning District, Pukou District and Liuhe District. At the end of the first quarter of 2024, Zijin Bank's total assets were 261.598 billion yuan.

Former president returns as party secretary

It is worth mentioning that on the same day, Wuxi Bank also issued a resolution announcement on convening the first extraordinary board meeting in 2024.

The announcement showed that the meeting was held in the form of an on-site meeting in the bank's 1208 conference room (No. 9, Financial Second Street, Wuxi City) on the afternoon of August 5, and the meeting notice had been sent to all directors on July 31.

It is reported that this meeting issued a proposal to nominate candidates for the seventh board of directors. The resumes of the candidates in the attached list show that Tao Chang is the bank's current party secretary, and Chen Hongmei is the bank's current deputy party secretary, director, and president.

It is reported that in November 2023, Wuxi Bank issued an announcement stating that the board of directors of the bank had received a written resignation report from executive director and president Tao Chang. Tao Chang resigned from the positions of executive director, president and member of the special committee of the board of directors due to job changes.

According to the announcement, Tao Chang served as Party Secretary and Chairman of Jiangsu Jingjiang Rural Commercial Bank after leaving the post of President of Wuxi Bank in November last year. He has now resumed his post as Party Secretary of Wuxi Bank.

This means that Tao Chang, the former president of Wuxi Bank, has returned to the bank and will take over as chairman of the bank.

According to data, Wuxi Bank was established in June 2005 and is the first rural commercial bank in China to be listed on the A-share main board. The first quarterly report of 2024 shows that in the first three months, Wuxi Bank achieved operating income of 1.304 billion yuan, a year-on-year increase of 5.02%; and realized a net profit attributable to the parent of 599 million yuan, a year-on-year increase of 9.41%. As of the end of March 2024, Wuxi Bank's total assets were 245.281 billion yuan.

Editor: Captain

Review: Muyu

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