Chengdu Bank's Top Leader Confirmed as Huang Jianjun; 8 Billion Convertible Bonds "Replenish Capital" to Consolidate Trillion-Yuan Asset Base

Changjiang Business Reporter Xu Jia

After months of adjustments, the leaders of Sichuan’s two trillion-yuan commercial banks have been finalized.

Recently, Chengdu Bank (601838.SH) announced that the Sichuan Regulatory Bureau of the China Banking and Insurance Regulatory Commission (hereinafter referred to as “Sichuan Financial Regulatory Bureau”) has approved Huang Jianjun’s qualification to serve as Director and Chairman of Chengdu Bank.

Changjiang Business Reporter noted that for Huang Jianjun, leading Chengdu Bank marks his return to his former employer after six years. In 2020, Huang Jianjun transferred from Chengdu Bank to Chengdu Rural Commercial Bank, becoming its Chairman. Now, Huang Jianjun has officially succeeded Wang Hui as the top leader of Chengdu Bank, while Wang Hui was approved on the same day to become Chairman of Chengdu Rural Commercial Bank, completing a leadership swap between two major banks in the same city, each with assets exceeding one trillion yuan.

It is also noteworthy that, besides the leadership change, Chengdu Bank has recently been approved to change its registered capital, becoming the first bank in 2026 to raise capital through convertible bond conversion.

Earlier, Chengdu Bank redeemed its convertible bonds early, with 8 billion yuan of convertible bonds achieving a 99.94% conversion rate. After approval, Chengdu Bank’s registered capital will increase to 4.238 billion yuan, providing additional support for its continued steady development.

As of the end of September 2025, Chengdu Bank’s total assets reached 1.39 trillion yuan.

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Two major banks in the same city complete leadership swap

In August 2025, due to organizational reassignment, Wang Hui resigned from his positions as Chairman, Director, Chair of the Strategic Development Committee, and Chair of the Special Authorization Committee for Credit Approval at Chengdu Bank. Shortly thereafter, Huang Jianjun was elected as the eighth-term Chairman of Chengdu Bank.

Recently, Chengdu Bank announced again that the Sichuan Financial Regulatory Bureau has approved Huang Jianjun’s qualification to serve as Director and Chairman. After obtaining this approval, Huang Jianjun took on the roles of Chairman, Director, Chair of the Strategic Development Committee, and Chair of the Special Authorization Committee for Credit Approval at Chengdu Bank.

Changjiang Business Reporter observed that this personnel change essentially represents a swap of positions between Wang Hui and Huang Jianjun at two banks in the same city. For Huang Jianjun, leading Chengdu Bank is also his return to his old employer after six years.

According to information, Huang Jianjun, now 50, initially served as Director of the Secretariat Office of Chengdu Commercial Bank, Deputy Director of the Office and Director of the Target Supervision Office, Secretary of the Board of Directors Office, General Manager of the Corporate Business Department, General Manager of the SME Department; he was also President of Chengdu Bank’s High-tech Branch, General Manager of the Corporate Business Department, Party Secretary and President of Xi’an Branch; Secretary of the Board of Directors of Chengdu Commercial Bank, Assistant to the President of Chengdu Bank, Member of the Party Committee, Vice President, and was also seconded as Deputy Director of the Foshan Financial Bureau in Guangdong Province.

In June 2020, Huang Jianjun joined Chengdu Rural Commercial Bank as Deputy Party Secretary, Acting Chairman, Director, and President, as well as Party Secretary and Chairman of the bank.

Wang Hui worked at Chengdu Bank for 20 years. He joined in 2005 and served as a Party Committee Member and President. From 2018 to August 2025, he served as Party Secretary and Chairman of Chengdu Bank, being described by the bank as a “founder, witness, and leader” of its development, promoting a leap in scale, efficiency, and quality.

During Wang Hui’s tenure, Chengdu Bank changed its name from Chengdu City Commercial Bank. In early 2018, it was listed on the A-share market.

As of the end of September 2025, Chengdu Bank’s total assets were 1.39 trillion yuan. Chengdu Rural Commercial Bank also announced that its total assets exceeded 1 trillion yuan at the end of 2025, ranking among the top rural banks with assets over one trillion yuan.

On the same day Huang Jianjun’s qualification was approved, the Sichuan Financial Regulatory Bureau also approved Wang Hui’s qualification as Director and Chairman of Chengdu Rural Commercial Bank.

Approval to increase registered capital to 4.238 billion yuan

In addition to successfully changing leadership, Chengdu Bank has recently supplemented its capital through convertible bond conversion.

Recently, Chengdu Bank announced that it received approval from the Sichuan Financial Regulatory Bureau. The bureau agreed to increase the bank’s registered capital from 3.736 billion yuan to 4.238 billion yuan. The bank will handle the relevant registration procedures according to regulations.

This makes Chengdu Bank the first bank in 2026 approved to raise capital through convertible bond conversion.

Changjiang Business Reporter noted that in March 2022, Chengdu Bank issued 80 million A-shares of convertible bonds with a total amount of 8 billion yuan, with a 6-year term. In April 2022, the bonds were officially listed as “Chengdu Silver Convertible Bonds,” and from September 9 of that year, they could be converted into the bank’s A-shares.

Between November 7 and December 17, 2024, due to the stock price of Chengdu Bank being at or above 130% of the conversion price of 12.23 yuan per share for 15 trading days, the conditional redemption clause was triggered. In December 2024, Chengdu Bank decided to redeem the bonds early.

In February 2025, Chengdu Bank redeemed the bonds at 100.652 yuan per bond, successfully delisting the bonds. By then, a total of 7.995 billion yuan of bonds had been converted into Chengdu Bank shares, totaling 626 million shares, with a conversion rate of 99.94%, significantly supporting the bank’s capital base.

As of the end of September 2025, Chengdu Bank’s capital adequacy ratio was 14.39%, and the Tier 1 capital adequacy ratio was 10.52%, both improved from the previous year, though the core Tier 1 capital ratio decreased from 9.06% to 8.77%.

Besides external capital infusion, Chengdu Bank also has strong internal capital generation capacity. Data shows that in the first nine months of 2025, the bank achieved operating income of 17.761 billion yuan, up 5.2 billion yuan or 3.01%; net profit attributable to the parent was 9.493 billion yuan, up 454 million yuan or 5.03%; the annualized return on assets was 0.96%, and the weighted average return on equity was 11.40%.

Chengdu Bank stated that its fundamental purpose is to serve the real economy, actively practice new development concepts, deeply integrate into national and provincial strategies, focus on the “five major articles” of finance, continuously enhance value creation and market competitiveness, and promote steady progress in its operations.

As of the end of September 2025, the bank’s total deposits reached 986.432 billion yuan, an 11.35% increase from the previous year; total loans were 847.481 billion yuan, up 14.13%. Deposits accounted for 76.86% of total liabilities, maintaining a stable operational structure.

In terms of asset quality, as of the end of September 2025, Chengdu Bank’s non-performing loan ratio was only 0.68%, with a provision coverage ratio of 433.08%.