On June 25th, Hua Xia Bank Co.,Limited (ASX: 600015) held its 2025 annual general meeting, where it reviewed and approved the "Measures for the Administration of Compensation for Directors and Senior Management."
The measures clarify the scope of application for directors and head office-level senior executives, distinguishing the compensation structure for municipal-managed and non-municipal-managed executives. For non-municipal-managed executives, 45% of their performance-based annual salary is deferred for payment over three years, and a compensation recovery mechanism is established.
Independent directors' allowances are calculated based on their actual tenure and are not subject to the performance-based compensation rules.
The annual report shows that in 2025, the total pre-tax compensation for Hua Xia Bank Co.,Limited's (ASX: 600015) key management personnel was 132.964 million yuan, a decrease of over 40% from the previous year, primarily due to eight fewer executives receiving compensation from the bank.
Personnel Changes
Recently, the new head of the Wealth Management and Private Banking Department at Hua Xia Bank Co.,Limited's (ASX: 600015) head office has been appointed, coming from Minsheng Bank (ASX: 600016). The former General Manager of Hua Xia Bank's Wealth and Private Banking Department, Liu Dan, has joined Hua Yin Fund and is slated to become its General Manager.
It has been learned that Liu Ying, former Deputy President of Minsheng Bank's (ASX: 600016) Taiyuan Branch, has joined Hua Xia Bank Co.,Limited (ASX: 600015) and is proposed to be the General Manager of the Head Office Wealth Management and Private Banking Department.
Liu Ying previously worked for many years in the Private Banking Department of Minsheng Bank's (ASX: 600016) head office, holding positions such as General Manager of the Wealth Management Business Center, General Manager of the Business Development Center, and Director of the Exclusive Product Management Center.
In March 2020, she was appointed Assistant President of Minsheng Bank's (ASX: 600016) Yinchuan Branch, was promoted to Deputy President of the Yinchuan Branch in May 2022, and was transferred to Deputy President of the Taiyuan Branch in 2025.
Business Operations
In recent years, Hua Xia Bank Co.,Limited (ASX: 600015) has deepened the customer-centric business philosophy in its wealth management and private banking operations, accelerating the multi-regional layout and service efficiency improvement of private banking centers.
It has built a specialized private banking operation system featuring "head office coordination, branch direct operations, and sub-branch support," promoting refined and tiered customer management to comprehensively enhance operational quality and efficiency.
It is reported that Hua Xia Bank Co.,Limited's (ASX: 600015) private banking clients refer to those with an average daily Assets Under Management (AUM) greater than or equal to 6 million RMB or equivalent foreign currency assets in the previous month.
The retail customer base has shown steady growth. As of the end of 2025, the total number of retail customers at Hua Xia Bank Co.,Limited (ASX: 600015) (including debit card and credit card customers) was 40.1244 million.
Among these, private banking clients numbered 20,200, a 21.71% increase from the end of the previous year. In the first quarter of 2026, Hua Xia Bank Co.,Limited (ASX: 600015) continued to optimize the institutional mechanisms of its private banking centers and enriched the supply of wealth management, insurance, and trust products. Private banking clients reached 22,032, a 9.1% increase from the beginning of the year.
Regarding wealth management, as of the end of 2025, the total financial assets of individual clients at Hua Xia Bank Co.,Limited (ASX: 600015) reached 1,114.808 billion yuan, an 11.28% increase from the end of the previous year.
In 2025, wealth management fee and commission income was 1.117 billion yuan, a year-on-year increase of 16.48%.
Furthermore, changes have also occurred among the presidents and deputy presidents of several first-tier branches of Hua Xia Bank Co.,Limited (ASX: 600015).
Chen Jie, President of the Hefei Branch, has left the bank. He previously served as Deputy President and Chief Risk Officer of Hua Xia Bank Co.,Limited's (ASX: 600015) Hangzhou Branch, became President of the Ningbo Branch in August 2021, and was transferred to the Hefei Branch in 2024.
Duan Haili, President of the Fuzhou Branch, is proposed to become President of the Hefei Branch. She previously served as President of Hua Xia Bank Co.,Limited's (ASX: 600015) Honghe Branch, became Deputy President of the Kunming Branch in November 2019, and has been serving as President of the Fuzhou Branch since May 2023.
Xu Peng, General Manager of the Strategic Client Department at the Beijing Branch, is proposed to become Deputy President of the Yinchuan Branch. Xu Peng holds a master's degree from the School of Management at Beijing Institute of Technology and previously served as President of a Beijing sub-branch and General Manager of the Corporate Finance Department 14 at the Beijing Branch of Hua Xia Bank Co.,Limited (ASX: 600015).
Shou Hongyu has left the Beijing Branch. He previously held positions including Technology Risk Director and Deputy Head of the Information Technology Department, Director of the Operations Center, General Manager of the Head Office Technology Development and Operations Center concurrently serving as General Manager of the Digital Finance Management Department, and General Manager of the Head Office Information Technology Management Department at Hua Xia Bank Co.,Limited (ASX: 600015), before being transferred to the Beijing Branch at the end of 2025.
Yan Ni, Marketing Director of the Beijing Sub-Center Branch, is proposed to become Deputy President of the Beijing Sub-Center Branch. She previously served as President of Hua Xia Bank Co.,Limited's (ASX: 600015) Beijing Zhichun Sub-branch.
On June 12th, Zhou Yi's qualification for the position of President of Hua Xia Bank Co.,Limited's (ASX: 600015) Ningbo Branch was approved.
Zhou Yi comes from the Bank of Beijing system, having served as President of Bank of Beijing's Hepingli Sub-branch, Assistant President of the Ningbo Branch, and Deputy General Manager of the Head Office Corporate Banking Department. He joined Hua Xia Bank Co.,Limited (ASX: 600015) in 2025, serving as Deputy General Manager of the Head Office Corporate Department and Deputy Leader of the Shanghai Free Trade Zone Branch Working Group.
On June 12th, Li Yifeng's qualification for the position of Deputy President of Hua Xia Bank Co.,Limited's (ASX: 600015) Tianjin Branch was approved. He previously served as Chief Credit Risk Officer of Hua Xia Bank Co.,Limited's (ASX: 600015) Tianjin Credit Risk Management Department, a dedicated head office approval officer, and Deputy General Manager of the Head Office Credit Approval Department.
Branch Network Information
As of the end of 2025, Hua Xia Bank Co.,Limited (ASX: 600015) had established 43 first-tier branches, 79 second-tier branches, and 7 non-local sub-branches domestically, with a total of 943 business outlets. In the first half of this year, the former first-tier Shaoxing Branch was downgraded.
Financial Performance
In terms of performance, Hua Xia Bank Co.,Limited (ASX: 600015) saw significant revenue growth in the first quarter of this year, although profitability continued to face pressure.
Specifically, in the first quarter of 2026, Hua Xia Bank Co.,Limited (ASX: 600015) achieved operating income of 24.622 billion yuan, an increase of 6.428 billion yuan or 35.33% year-on-year. This was mainly due to factors including capital market volatility, resulting in fair value change gains of 2.207 billion yuan, compared to fair value change losses of 2.473 billion yuan in the same period last year.
Hua Xia Bank Co.,Limited (ASX: 600015) reported net profit attributable to shareholders of 4.987 billion yuan for the first quarter, a decrease of 1.50% year-on-year. The decline in net profit despite the surge in revenue was primarily due to credit impairment losses nearly doubling year-on-year to 11.524 billion yuan in the first quarter.
Hua Xia Bank Co.,Limited (ASX: 600015) explained that this "does not indicate a deterioration in asset quality but is a continuation of active clean-up." In 2025, the bank wrote off and transferred out 32.783 billion yuan in non-performing loans, cumulatively disposing of 43.324 billion yuan in non-performing assets, with the non-performing loan ratio falling to 1.55%. This strategy continued in the first quarter of this year, with the provision coverage ratio rising to 146.37%.
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