Following the official announcement of the departure of Chairman Zhang Zhenghai from Bank Of Guiyang Co.,Ltd. (SH: 601997), BANK OF GUIZHOU (HK: 06199) has also announced that its Chairman, Yang Mingshang, has left his post.

This marks a simultaneous leadership transition at the two leading banks within Guizhou Province.

Bank Of Guiyang Co.,Ltd. has appointed its President, Sheng Jun, to act as Chairman pro tempore, while BANK OF GUIZHOU will be succeeded by Yang Hongjun, aged 58.

Sheng Jun, born in the 1970s, hails from the Industrial and Commercial Bank of China system. Yang Hongjun, aged 58, comes from the Agricultural Bank of China system, where he rose to the position of Vice President of the Agricultural Bank of China's Guizhou Branch, before becoming a director and vice chairman of the Guizhou Provincial Credit Union in 2024.

Yang Hongjun was involved in the establishment of the Guizhou Rural Commercial United Bank. By the end of December 2025, this bank was officially inaugurated, with Yang Hongjun becoming its inaugural President.

The competition between Sheng Jun and Yang Hongjun is just beginning.

BANK OF GUIZHOU is the only provincial-level city commercial bank in Guizhou formed by merging institutions from three different locations. It was established in 2012. In contrast, Bank Of Guiyang Co.,Ltd. is the oldest established city commercial bank in the province, founded in 1997, with its business deeply rooted in Guiyang City and radiating throughout the province.

Compared to Bank Of Guiyang Co.,Ltd., BANK OF GUIZHOU still has considerable ground to cover.

In terms of scale, Bank Of Guiyang Co.,Ltd. has long surpassed the 700 billion yuan mark, while BANK OF GUIZHOU has only recently crossed the 600 billion yuan threshold.

As of the end of the first quarter of 2026, the total assets of Bank Of Guiyang Co.,Ltd. stood at 767.12 billion yuan, an increase of 3.18% from the end of the previous year. BANK OF GUIZHOU reported total assets of 611.562 billion yuan, a growth of just 0.19% from year-end.

The total assets of Bank Of Guiyang Co.,Ltd. are 155.558 billion yuan higher than those of BANK OF GUIZHOU, and its growth rate is also faster.

Looking at 2025 performance, BANK OF GUIZHOU's profit scale was smaller than that of Bank Of Guiyang Co.,Ltd., but its growth was more stable.

In 2025, BANK OF GUIZHOU achieved operating revenue of 12.596 billion yuan, a year-on-year increase of 1.44%, and net profit attributable to shareholders of 3.859 billion yuan, up 2.12%.

During the same period, Bank Of Guiyang Co.,Ltd. reported operating revenue of 12.999 billion yuan, a decrease of 12.94% year-on-year, and net profit attributable to shareholders of 5.249 billion yuan, an increase of 1.66%, indicating profit growth without revenue growth.

As of the end of 2025, BANK OF GUIZHOU had 5,548 regular employees on its roster, while Bank Of Guiyang Co.,Ltd. had a total of 6,484 in-service employees (excluding dispatched workers), a difference of 936 people.

Both Bank Of Guiyang Co.,Ltd. and BANK OF GUIZHOU have room for improvement and are in urgent need of new breakthroughs.

This is particularly true for BANK OF GUIZHOU, which possesses significant development potential.

Over the past five years, under the leadership of Yang Mingshang, BANK OF GUIZHOU reached new levels in business scale, operational performance, development transformation, and risk prevention.

In 2025, BANK OF GUIZHOU saw its net interest margin increase against the trend.

During the period, its net interest margin was 1.88%, an increase of 0.11 percentage points from the previous year.

In 2025, BANK OF GUIZHOU recorded a substantial rise in net fee and commission income.

During the period, the bank's net fee and commission income reached 1.062 billion yuan, an increase of 761 million yuan, or 252.71% year-on-year.

A closer look reveals that the bank's agency business income reached 1.063 billion yuan, a surge of 391.88% year-on-year, while other businesses including guarantee commitment, payment and settlement, and bank card services all experienced negative growth.

In 2025, BANK OF GUIZHOU's asset quality improved.

As of the end of 2025, the bank's non-performing loan ratio was 1.65%, down 0.07 percentage points from the beginning of the year. The balance of overdue loans was 5.920 billion yuan, with an overdue rate of 1.56%, down 0.11 percentage points from the start of the year.

Yang Mingshang, who has now reached the age of 60, can be said to have retired after accomplishing his mission.

However, BANK OF GUIZHOU, entering a new phase, faces several challenges that require a more capable leader to navigate.

First, corporate banking revenue has declined.

In 2025, the corporate banking business of BANK OF GUIZHOU generated revenue of 6.659 billion yuan, a decrease of 229 million yuan year-on-year.

Second, the growth rate of operating expenses exceeded that of revenue.

In 2025, the bank's operating expenses were 3.816 billion yuan, an increase of 2.82% year-on-year. Within this, employee costs amounted to 2.335 billion yuan, up 4.04%.

Third, profitability is under pressure.

In the first quarter of 2026, BANK OF GUIZHOU reported operating revenue of 3.063 billion yuan, a year-on-year increase of 2.17%, while net profit attributable to shareholders was 1.336 billion yuan, a decrease of 2.20%.

BANK OF GUIZHOU has also entered a state of revenue growth without profit growth.