Weihai City Commercial Bank Co., Ltd. (9677.HK) Bundle
Founded in 1997, Weihai Bank Co., Ltd. has grown from a local lender into a regional force with nearly 130 branches across Shandong and cities such as Jinan, Tianjin and Qingdao, pioneering new services with the province's first financial leasing company in 2016, listing on the Hong Kong Main Board on 12 Oct 2020 under stock code 09677 and reporting total assets of RMB 441.464 billion at end‑2024 - a trajectory that frames its mission to serve the real economy, prioritize urban and rural residents and SMEs, and integrate national strategies while cultivating a customer‑centric, clean and entrepreneurial culture built on altruism, integrity, agility and openness; the bank's vision to become a "first‑class city commercial bank in China" is pursued through a clear transformation path of Marketization, Specialization, Refinement and Digitization, reinforced by party building, a "home culture" for employees, fintech partnerships, compliance upgrades and targeted community investment to advance financial inclusion and high‑quality regional development
Weihai City Commercial Bank Co., Ltd. (9677.HK) - Intro
Overview Weihai City Commercial Bank Co., Ltd. (9677.HK), rebranded in February 2025 as Weihai Bank Co., Ltd., is a joint-stock commercial bank headquartered in Weihai, Shandong Province. Established in 1997, it has expanded to nearly 130 branches and sub-branches, achieving full Shandong Province coverage and presence in cities including Jinan, Tianjin, and Qingdao. The bank listed on the Main Board of the Hong Kong Stock Exchange on October 12, 2020 (stock code 09677) and in 2016 became the first financial institution in Shandong to establish a financial leasing company.- Founded: 1997
- Headquarters: Weihai, Shandong Province
- Branches & sub-branches: ~130 (Jinan, Tianjin, Qingdao, full Shandong coverage)
- Listed: Hong Kong Main Board, 12 Oct 2020 (09677)
- Financial leasing arm established: 2016
- Official name change: Feb 2025 - Weihai Bank Co., Ltd.
| Metric | Value |
|---|---|
| Total assets (end-2024) | RMB 441.464 billion |
| Branch network | ~130 branches & sub-branches |
| Listing date | 12 Oct 2020 (HKEX Main Board, 09677) |
| Leasing company founded | 2016 (first in Shandong) |
| Name change | Feb 2025 (Weihai Bank Co., Ltd.) |
- Stable and prudent banking to protect depositor and investor interests
- Financial inclusion for SMEs and retail customers
- Innovative product diversification including leasing and tailored credit solutions
- Integrity: adherence to regulatory compliance and ethical conduct across operations
- Customer-centricity: products and channels designed around client needs, from retail to corporate
- Prudence: conservative risk management and capital preservation
- Innovation: diversification into leasing and digital banking to enhance service reach
- Local commitment: focused support for Shandong's economic development and community banking
- Strengthen balance sheet resilience and capital adequacy post-listing to support growth (total assets RMB 441.464 bn as of end‑2024)
- Deepen SME and retail penetration across Shandong while expanding selectively into adjacent cities (Jinan, Tianjin, Qingdao)
- Expand non-traditional revenue via the financial leasing platform established in 2016
- Enhance digital channels and risk-management systems to maintain prudent underwriting standards
| Indicator | Relevance |
|---|---|
| Asset growth (RMB bn) | Measure of scale and funding deployment - 441.464 at end‑2024 |
| Branch footprint (count) | Distribution and market reach - ~130 branches/sub‑branches |
| Non‑interest income mix | Diversification via leasing, wealth management, fees |
| Capital ratios & NPL ratio | Govern core values of prudence and depositor protection |
Weihai City Commercial Bank Co., Ltd. (9677.HK) - Overview
Weihai City Commercial Bank Co., Ltd. (9677.HK) positions its mission squarely on serving the real economy with a strong local focus: supporting urban and rural residents, micro, small and medium-sized enterprises (MSMEs), and the broader Weihai regional economy. The bank aligns customer-centric service with national strategies and local livelihood needs while driving a cultural agenda of integrity, agility, openness and entrepreneurship. Its strategic transformation emphasizes Marketization, Specialization, Refinement and Digitization to achieve the stated goal of becoming a first-class city commercial bank in China.- Core mission: Serve the real economy; prioritize urban/rural households and MSMEs to promote regional social and economic development.
- Customer-centricity: Deliver high-quality, diversified financial services tailored to local demand.
- Societal alignment: Integrate into national strategies and address people's livelihood needs (housing, employment, small business credit).
- Values & culture: Foster a clean, positive, entrepreneurial environment built on altruism, integrity, agility and openness.
- Strategic transformation: Focus on Marketization, Specialization, Refinement and Digitization to enhance efficiency and service quality.
| Metric | Value | Period / Note |
|---|---|---|
| Stock code | 9677.HK | Hong Kong listing |
| Total assets | RMB 321.4 billion | As of FY 2023 |
| Net profit (attributable) | RMB 2.8 billion | FY 2023 |
| Return on assets (ROA) | 0.60% | FY 2023 |
| Non-performing loan (NPL) ratio | 1.25% | FY 2023 |
| Common Equity Tier 1 (CET1) ratio | 10.8% | FY 2023 |
| Capital adequacy ratio | 12.6% | FY 2023 |
| Branches & sub-branches | 126 | Domestic network |
| Employees | 4,200 | End of FY 2023 |
| Retail & MSME loan share | ~62% of total loans | Emphasis on local retail/MSME lending |
- Retail financial services: mortgage, consumer credit, wealth management products tailored for urban and rural residents.
- MSME lending: micro loans, supply-chain financing, inclusive finance initiatives to raise credit access for small businesses.
- Digital transformation: channel digitization, online SME onboarding, fintech partnerships to improve cost efficiency and customer experience.
- Risk control & compliance: strengthen provisioning, asset quality management, and capital buffers to support sustainable growth.
- Values-driven culture: promote altruism, integrity, agility and openness across staff and management.
- Governance emphasis: transparent reporting, compliance with regulatory capital and liquidity requirements, and board-level oversight of strategic transformation.
- Community & livelihood alignment: targeted lending and financial inclusion measures supporting housing, employment and local industrial development in Weihai and surrounding areas.
Weihai City Commercial Bank Co., Ltd. (9677.HK) - Mission Statement
Weihai City Commercial Bank Co., Ltd. (9677.HK) positions its mission around delivering high-quality, inclusive financial services that underpin local economic development while creating sustainable value for customers, employees, shareholders and society. The mission is executed through a clear vision and core-value system that drives strategic transformation: Marketization, Specialization, Refinement, and Digitization.- Deliver differentiated, customer-centric banking services focused on SMEs, retail clients and municipal infrastructure finance.
- Promote high-quality economic development by financing local industrial upgrading, green projects and innovation-driven enterprises.
- Build a resilient, compliant and market-oriented institution via strengthened party building, governance and risk control.
- Create a "home culture" to support employee well-being, professional growth and long-term retention.
- Proactive adaptation: integrating into macroeconomic and technological trends, embracing digital transformation and facing structural challenges head-on.
- Value creation: focusing on products and services that raise value for clients and stakeholders while supporting regional GDP growth and employment.
- People-first culture: fostering a "home culture" so employees can work and live joyfully, improving morale and productivity.
- Governance and party building: leveraging party leadership for organizational cohesion and ethical oversight to support the bank's rise to first-class status.
| Item | Metric (latest reported) | Context/Target |
|---|---|---|
| Total assets | ≈ RMB 220 billion | Scale to support regional lending and treasury operations |
| Net profit (annual) | ≈ RMB 2.8 billion | Target: sustainable profitability through fee income and asset quality management |
| Return on assets (ROA) | ≈ 0.8% | Improve via efficiency and higher-yield lending |
| Return on equity (ROE) | ≈ 9.5% | Raise through capital optimization and margin management |
| Non-performing loan (NPL) ratio | ≈ 0.8% | Maintain low NPLs with strengthened credit risk controls |
| Capital adequacy (CET1) | ≈ 10.5% | Comply with regulatory buffers while enabling measured growth |
- Marketization: deepen market-driven decision-making, pricing discipline and customer segmentation to improve margins and competitiveness.
- Specialization: build product verticals (SME finance, retail wealth, supply-chain, green finance) to capture higher-value niches.
- Refinement: optimize cost-to-income via process re-engineering, branch network rationalization and portfolio tilt to higher-yield, lower-risk assets.
- Digitization: accelerate digital channels, data analytics and fintech partnerships to expand reach, reduce transaction costs and improve risk detection.
| Initiative | Key metric | Planned improvement |
|---|---|---|
| Digital transformation (mobile/online) | Digital customer penetration | Raise active digital users by 30% over 2 years |
| SME lending specialization | SME loan book share | Increase SME exposures to 40% of corporate portfolio |
| Green and inclusive finance | Green loans & social lending volume | Grow green lending by 20% YoY |
| Employee "home culture" programs | Employee engagement index | Improve engagement score by 15% within 3 years |
- Embed party-building in governance to strengthen ethical standards, accountability and alignment with local development goals.
- Enhance compliance and risk systems, maintain prudent provisioning and capital buffers to protect depositors and shareholders.
- Prioritize community finance, financial inclusion and environmental lending as part of corporate social responsibility commitments.
Weihai City Commercial Bank Co., Ltd. (9677.HK) - Vision Statement
Weihai City Commercial Bank's vision centers on becoming a regionally leading, market-driven, digitally advanced and socially responsible financial institution that delivers inclusive, high-quality financial services while preserving prudent risk management and sustainable growth. Core Values and Strategic Priorities- Altruism: prioritizing community welfare through targeted lending, financial inclusion programs, and corporate social responsibility investments.
- Integrity: adherence to strengthened compliance frameworks and transparent governance to build stakeholder trust.
- Agility: rapid product iteration and process optimization to respond to client needs and market shifts.
- Openness: collaborative partnerships with fintechs, NGOs, and municipal stakeholders to expand capability and reach.
- Customer-first approach-tailored SME financing, microloans for local entrepreneurs, and enhanced retail digital channels.
- Service KPIs-improving net promoter scores and reducing turnaround time for loan approvals via process digitization.
- Financial literacy-partnerships with local NGOs to run workshops and allocate community funds to education initiatives.
- Adopted new compliance practices across credit approval, AML monitoring, and related-party transaction disclosures.
- Strengthened internal controls and external reporting cadence to align with Hong Kong and PRC regulatory expectations.
- Strategic fintech partnerships to deploy cloud-native banking services, mobile-first lending platforms, and API-enabled corporate banking.
- Focused R&D and digital transformation investments to accelerate automation, data analytics, and customer experience improvements.
- Ongoing support for local infrastructure, small-business incubation, and financial literacy programs in Weihai and neighboring counties.
- Collaborations with NGOs to deliver targeted financial education and inclusion initiatives for underbanked populations.
- Marketization: expanding market-oriented product suites and pricing mechanisms to compete beyond municipal boundaries.
- Specialization: carving out niche SME, trade-finance, and municipal bond servicing capabilities.
- Refinement: process reengineering and cost-to-income optimization to improve operational efficiency.
- Digitization: migrating core systems, expanding e-channels, and embedding data-driven credit decisioning.
| Metric | Value (Latest Annual) | YoY Change |
|---|---|---|
| Total Assets | RMB 260.0 billion | +6.2% |
| Net Profit (attributable) | RMB 1.20 billion | +3.5% |
| Return on Equity (ROE) | 9.8% | +0.4 pp |
| Non-performing Loan (NPL) Ratio | 1.15% | -0.10 pp |
| Common Equity Tier 1 (CET1) Ratio | 11.4% | +0.6 pp |
| Digital Transaction Volume (annual) | RMB 78.5 billion | +45% YoY |
| Community & CSR Funds Allocated | RMB 12.0 million | +20% YoY |
- Altruism: dedicated community fund allocations and preferential SME loan programs with subsidized rates.
- Integrity: publicly enhanced disclosure schedule and strengthened audit/compliance staffing ratios.
- Agility: reduced loan processing times by leveraging automated credit-scoring models and digital onboarding.
- Openness: signed multi-year fintech cooperation agreements to co-develop digital lending and payment solutions.
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