Jiangsu Zhangjiagang Rural Commercial Bank Co Ltd

Zhangjiagang Rural Commercial Bank released its 2026 semi-annual report, achieving operating revenue of 2.469 billion yuan, down 5.21% year on year; net profit attributable to shareholders of the listed company was 1.022 billion yuan, up 2.71% year on year. Second-quarter net profit was 445 million yuan, while first-quarter net profit was 576 million yuan, meaning second-quarter net profit fell 22% quarter on quarter.

Zhangjiagang Rural Commercial Bank, one of the first listed rural commercial banks in China with total assets exceeding 240 billion yuan, has announced the results of its core management reshuffle. The bank's ninth board of directors elected Wu Kai as chairman at its first meeting and appointed Wang Hui as president. Both will formally assume their roles after regulatory approval of their qualifications. Former chairman Sun Wei has been reassigned as a company supervisor due to reaching the age limit for the position. Wu Kai, born in 1979, has deep experience in the rural credit cooperative system of southern Jiangsu and currently serves as the bank's party secretary. Wang Hui, born in 1983, is a locally groomed cadre from the post-80s generation and currently serves as the bank's deputy party secretary. The meeting also appointed Chen Jinlong, Tao Yi, Wu Mingyuan, Zhu Yufeng, and Lu Ming as vice presidents, forming a structure of one president and five vice presidents. Following this personnel change, the management team has become significantly younger, with the core team mainly consisting of those born after 1975 and 1980. Zhangjiagang Rural Commercial Bank's first-quarter 2026 report shows total assets exceeding 240.3 billion yuan, operating revenue of 1.266 billion yuan, and net profit attributable to shareholders of 576 million yuan. The non-performing loan ratio has remained below 1 percent for several consecutive years, and the provision coverage ratio has stayed above 300 percent.

Zhangjiagang Rural Commercial Bank is set to welcome a new chairman and president, both promoted from within. The bank held an interim board meeting on July 13, approving resolutions including leadership transition. Current chairman Sun Wei is stepping down due to reaching the age limit and will become a company supervisor. Party Secretary Wu Kai will assume the chairman's duties. Born in March 1979, he is poised to become the youngest chairman among A-share listed rural commercial banks upon regulatory approval. Deputy Party Secretary Wang Hui will assume the president's duties. Born in May 1983, he started as a branch employee, previously served as vice president, and is now acting president. Additionally, the bank disclosed its executive compensation plan, with deferred performance pay returned over a rolling three-year period and including clawback provisions. In the first quarter of 2026, Zhangjiagang Rural Commercial Bank achieved operating revenue of 1.266 billion yuan, down 4.43 percent year-on-year, with net profit attributable to shareholders of 576 million yuan, up 2.5 percent. Total assets stood at 240.372 billion yuan, and the non-performing loan ratio was 0.94 percent.