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phoenix finance "banking eyes" text丨xiaoxiao

recently, a personnel appointment and dismissal notice disclosed by the handan municipal government showed that zhang haihong is expected to serve as the chairman of handan bank, and his qualifications are still subject to approval by the state financial regulatory administration.

it is understood that zheng zhiying, the former chairman of handan bank, was unfortunately killed in august this year.

on april 15 this year, zhang haihong just took up the position of president of handan bank, and it has not been 5 months yet. although zhang haihong has not been in office for a long time, he can be regarded as an "old man" of handan bank. in september 2013, zhang haihong served as vice president of handan bank. in december 2021, zhang haihong was transferred to handan construction investment group as chairman until he returned to handan bank in april this year. with zhang haihong's promotion to chairman, the position of president of handan bank is vacant again.

today, handan bank is facing poor performance and declining asset quality. how the new chairman zhang haihong will lead the team to solve these problems is what the market is most concerned about.

revenue has declined for two and a half years

according to handan bank's second quarter information disclosure report, in the first half of 2024, handan bank achieved operating income of 1.74 billion yuan, a year-on-year decrease of 7.59%; net profit of 964 million yuan, a year-on-year increase of 18.87%, "increased profits but not increased revenues."

last year, handan bank's revenue and net profit both fell. according to wind data, in 2023, handan bank's operating income was 3.509 billion yuan, a year-on-year decrease of 0.65%. it is worth mentioning that the bank's operating income has been declining since 2022 and has been declining for two and a half years.

the bank's net profit performance was even worse. in 2023, handan bank's net profit was "halved", down 57.58% year-on-year to 645 million yuan. the main reason was that the bank increased the write-off of non-performing assets, resulting in a surge in loan credit impairment losses, which had an impact on net profit. the financial report shows that the bank's credit impairment losses in 2023 were 1.279 billion yuan, a significant increase of 133% year-on-year.

in addition, handan bank’s second quarter information disclosure report did not disclose data related to non-performing loan ratio and provision coverage ratio, but judging from its 2023 annual report data, the bank’s asset quality is not optimistic.

as of the end of 2023, handan bank's non-performing loan ratio was 2.24%, an increase of 0.34 percentage points year-on-year, and 41% higher than the average non-performing loan ratio of commercial banks in the same period; the provision coverage ratio was 136.84%, a decrease of 17.89 percentage points year-on-year, and 33% lower than the average provision coverage ratio of commercial banks in the same period. if this trend continues, it will approach the regulatory red line of 120%.

equity auctions failed

aside from its poor performance, handan bank’s shares were repeatedly sold at a loss.

according to alibaba auction, on august 27, the second auction of 246 million shares of handan bank (approximately 6.5% of the total share capital) ended and ultimately failed.

the shares were first auctioned on july 19 this year with a reserve price of 509 million yuan.

phoenix finance's "banking eyes" noted that the reserve price for the second auction of handan bank's 246 million shares was 407 million yuan, a 20% decrease from the first auction reserve price, equivalent to a 54% discount from the assessed value of 727 million yuan, but still no one was interested.

the auction announcement shows that 246 million shares of handan bank are held by the executed party lida heavy industry co., ltd. (hereinafter referred to as "lida heavy industry") and have been frozen.

the financial report shows that as of the end of 2023, lida heavy industry held 280 million shares of handan bank, accounting for 7.41%, making it the fifth largest shareholder.

according to data from aiqicha, phoenix finance's "banking eyes" found that in may this year, the equity held by lida heavy industry with a value of 58.5193 million yuan was frozen by the court, and its legal representative wang tiepeng was issued a consumption restriction order by the chaoyang district people's court of beijing.

in the future, whether handan bank can boost its performance and improve its asset quality under the leadership of its new chairman zhang haihong, phoenix finance’s “banking eyes” will continue to pay attention.