Harbin Bank (6138.HK) announced that it will hold an extraordinary general meeting on March 27, 2026 to consider appointing Du Xiaoquan as a non-executive director of the ninth board of directors.
This move follows last month's resignation of former non-executive director Zhang Xianjun, who stepped down from his director and board committee positions due to work reassignment. Previously, in December 2025, Harbin Investment Group (600864.SH) disclosed that Zhang had submitted his resignation as director and general manager, subsequently leaving all positions at the company and its subsidiaries.
Harbin Economic Development Investment Co., Ltd., the bank's largest shareholder, has nominated Du Xiaoquan as a candidate for non-executive director. The appointment requires approval at the shareholders' meeting and must subsequently be ratified by the Heilongjiang Local Bureau of the National Financial Regulatory Administration before taking effect.
Du Xiaoquan previously served in various roles at the Harbin Municipal Finance Bureau, including positions in the confiscation office, budget department, and ultimately as deputy director. In January 2025, he transferred to Harbin Investment Group Co., Ltd., where he currently holds the positions of deputy party secretary, director, and general manager.
Notably, the resolution was signed by chairman Deng Xinquan, while Yao Chunhe was elected as chairman back in 2024 but has yet to receive regulatory approval for the position.
In November 2024, Deng Xinquan resigned as he approached retirement age, and the board elected president Yao Chunhe as chairman, with his term to commence upon regulatory approval.
Until Yao's qualification is approved, Deng will continue to perform the duties of executive director, chairman, and head of the board's strategic development committee in accordance with relevant regulations and the bank's articles of association.
Yao Chunhe joined Harbin Bank in June 2022 as deputy party secretary and assumed the role of executive director and president in March 2023 before being elected as chairman.
Unlike typical acting arrangements during chairman vacancies, the bank's announcement specifies that Deng continues to perform chairman duties without strict time limitations, pending Yao's approval. However, Deng was born in January 1965 and has reached retirement age, while Yao's qualification approval has been delayed for over a year—an unusually long period in the industry.
Financial reports show that in the first half of 2025, the bank achieved operating revenue of 7.386 billion yuan, a 2.59% year-on-year increase, with net profit reaching 992 million yuan, up 146 million yuan or 17.28% compared to the same period last year.
As of the end of June 2025, the bank's non-performing loan balance stood at 11.27 billion yuan, with a non-performing loan ratio of 2.83%, significantly higher than the industry average.