Bank of Zhengzhou Co.,Ltd. has released its 2025 annual report, showing operating revenue of 129.21 billion yuan, a slight increase of 0.34% year-on-year. Net profit attributable to shareholders reached 1.895 billion yuan, up 1.03% from the previous year.
The bank announced it does not plan to distribute dividends this year. Over the past six years, Bank of Zhengzhou has accumulated over 10 billion yuan in net profits but only conducted a dividend payout in 2024, with a distribution ratio below 10%, earning it the nickname "iron rooster" among investors.
A notable discrepancy has emerged regarding impairment provisions for Jiuding Financial Leasing Co., Ltd. Yutong Bus, which holds a 29% stake in Jiuding, reported impairment provisions of approximately 455 million yuan for its long-term equity investment in the leasing company. However, Bank of Zhengzhou, which holds a controlling 51% stake in Jiuding, appears not to have made any impairment provisions for its investment.
Established in 1996, Bank of Zhengzhou became the first city commercial bank to achieve dual listing in both Hong Kong and mainland China, with listings on the Hong Kong Stock Exchange in December 2015 and the Shenzhen Stock Exchange in September 2018.
By the end of 2025, the bank's total assets reached 743.674 billion yuan, representing a 9.95% increase from the previous year - the highest growth rate since its 2018 listing. Total deposits grew 14.47% to 463.075 billion yuan, while total loans and advances increased 5.82% to 410.264 billion yuan.
The bank's long-term equity investments include subsidiaries and associated companies, with its 1.02 billion yuan investment in Jiuding Financial Leasing representing the largest single investment. The bank's total impairment provision for long-term equity investments remained unchanged at 59.801 million yuan, consistent with provisions made for Xinzheng Zhengyin Village Bank after it was reclassified from an associate to a subsidiary in 2022.
Regarding asset quality, the bank's non-performing loan ratio improved to 1.71% at the end of 2025, down 0.08 percentage points from the previous year. However, the discrepancy ratio between loans overdue for more than 90 days and non-performing loans exceeded 140%, suggesting potential underreporting of bad loans.
The real estate sector remained a concern, with the NPL ratio for property loans standing at 5.11% despite improving from 9.55% a year earlier. The bank disclosed significant legal disputes, including a 660 million yuan loan dispute with Zhengzhou Kangqiao Real Estate and a 1.1 billion yuan case with Zhengzhou Jinwei Industrial.
Customer complaints totaled 2,520 cases during the reporting period, primarily related to lending and bank card services. Third-party platforms show numerous consumer complaints about unauthorized credit card fee charges, hidden costs from lending assistance platforms, and aggressive debt collection practices.
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