Suzhou Bank's Shareholders' Meeting Approaches with Minor Personnel Adjustments, Are They Overinterpreted?

Listing | Zhongfang.com

Review | Li Xiaoyan

As the first extraordinary general meeting of shareholders approaches in 2026, Suzhou Bank issued an announcement regarding adjustments to its independent director candidates. Due to personal reasons, candidate Wang Yi has withdrawn from the election, and the bank has accordingly made adjustments to the nomination process. This personnel adjustment is a routine operation within corporate governance of listed companies, progressing in an orderly manner within regulatory frameworks and not materially affecting the bank’s normal operations or decision-making mechanisms. As the only legal person-formed city commercial bank in Suzhou, the bank has maintained a steady operational stance, with assets steadily expanding, profits continuously increasing, and asset quality remaining excellent. This brief governance adjustment is more like a minor episode in its development process and does not change its long-term positive fundamentals.

According to the announcement, Suzhou Bank received a notice from independent director candidate Wang Yi on February 26, stating that he would no longer participate in the election due to personal reasons. The bank promptly canceled the relevant proposal in accordance with regulations and did not submit it for shareholder approval. From the timeline, the board completed the nomination process on February 9, with candidates signing declarations and commitments as required by regulators, ensuring a standardized and complete nomination process. The candidate’s withdrawal due to personal planning and work arrangements is common in the A-share market, representing market-oriented and personalized choices that are not directly related to the company’s operational status or governance compliance. Suzhou Bank fulfilled its information disclosure obligations promptly, with transparent procedures and timely responses, demonstrating its awareness of regulated operation as a listed bank.

Although this adjustment temporarily reduces the independent director ratio in the new board to below one-third, Suzhou Bank has quickly initiated response mechanisms, clearly stating that it will complete the by-election as soon as possible. More importantly, the bank strictly follows regulatory requirements, arranging for the current independent directors of the fifth board to continue serving until new independent directors receive regulatory approval. This arrangement complies with the “Company Law” and the “Measures for the Administration of Independent Directors of Listed Companies,” ensuring the continuity, stability, and effectiveness of board decision-making, and avoiding governance gaps or supervision lapses. In practice, it is common and mature for the outgoing and incoming directors to transition during the period, effectively preventing operational risks caused by personnel changes and demonstrating the bank’s mature internal control and emergency mechanisms.

Regarding the candidate pool, the overall quality of the nominated independent directors is high, with a balanced professional structure supported by strong intellectual and supervisory capabilities. Besides Wang Yi, the other four candidates come from well-known universities, professional institutions, and experienced industry professionals, covering key areas such as economics and finance, auditing and accounting, risk management, and banking management. Their complementary professional backgrounds and rich industry experience provide a solid foundation for effective oversight. Experts and scholars from Fudan University, Nanjing Audit University, and the Central University of Finance and Economics will bring cutting-edge theoretical perspectives and independent professional judgment; participation from senior bankers like Xia Ping, former chairman of Jiangsu Bank, will offer practical advice on strategic planning, business layout, and risk control. This “scholar + expert + senior manager” combination is a high-end lineup among listed city commercial banks, providing strong support for scientific decision-making by the board.

The sixth board of Suzhou Bank has been established smoothly and orderly, with nominations for non-independent directors progressing well, and the management team remaining stable. According to the announcement, the candidate for executive director is a reappointment of current management, including Chairman Cui Qingjun, President Wang Qiang, and two vice presidents. The core management team is experienced and well-coordinated, conducive to maintaining strategic continuity. The shareholder director candidates come from diverse backgrounds, with employee directors elected according to procedures. The 15-member board structure aligns with modern corporate governance requirements, forming a governance pattern of checks and balances among decision-making, execution, and supervision, ensuring efficient collaboration. The stability and continuity of the management team are key to the bank’s resilience through economic cycles and demonstrate confidence in long-term development.

As a local legal person-formed listed bank in Suzhou, the bank leverages regional economic strengths, achieving coordinated growth in scale, efficiency, and quality in recent years, with comprehensive strength remaining among the industry’s top. By the end of Q3 2025, total assets reached 776.04 billion yuan, an 11.87% increase from the beginning of the year; operating income for the first three quarters was 9.477 billion yuan, up 2.02%; net profit attributable to shareholders was 4.477 billion yuan, up 7.12%, maintaining steady profitability. Despite narrowing interest margins and intensified industry competition, the bank achieved growth in both revenue and net profit, reflecting strong profitability and operational resilience.

In terms of asset quality, Suzhou Bank’s risk management is highly effective, with a non-performing loan ratio of 0.83%, well below industry averages and stable compared to the start of the year. The provision coverage ratio is 420.59%, indicating robust risk buffers and sufficient safety margins for future growth. The bank’s branch and institution network continues to expand, with 21 branches and 189 outlets covering all of Jiangsu Province, along with diversified licenses in financial leasing, rural banks, and fund companies, and a new Singapore representative office, steadily advancing its integrated and international layout. Relying on Suzhou’s strong real economy and technological innovation industries, the bank has developed distinctive advantages in inclusive finance, tech finance, and green finance, with ongoing growth momentum.

Objectively, the temporary withdrawal of the independent director candidate raises higher standards for the nomination process. Future efforts should further optimize candidate selection, due diligence, and communication procedures to minimize the likelihood of similar events. However, from an overall perspective, this adjustment is a localized, short-term, controllable governance matter. Suzhou Bank responded promptly, with appropriate measures and orderly compliance, without impacting governance effectiveness or operational stability. The market should not over-interpret or exaggerate the impact.

Looking ahead, as the independent director by-election is swiftly implemented, the bank’s board structure will quickly return to compliance, and governance efficiency will continue to improve. With a stable management team, solid regional foundation, excellent asset quality, and clear strategic direction, the bank is expected to maintain steady development, serve the local economy, support industrial upgrading, and create sustainable returns for shareholders, contributing significantly to regional financial stability. A minor adjustment in governance will not alter its long-term growth trajectory; Suzhou Bank will continue to build on sound governance as its foundation and steadily advance on the path of high-quality development.