Chongqing Rural Commercial Bank completes share transfer, updates governance

Chongqing Rural Commercial Bank announced on November 20, 2025, that share transfer procedures involving Chongqing Chanyi Automation Co., Ltd. (Chanyi Shares) have been completed. This follows a June 4, 2025, announcement regarding a voting rights entrustment agreement and a supplementary share transfer framework agreement between the controlling shareholder of Chongqing Yufu Capital Operation Group Co., Ltd. and China National Machinery Industry Corporation and China National Instruments and Meters (Chongqing) Co., Ltd.

As a result, China National Instruments and Meters became the controlling shareholder of Chanyi Shares, making China National Machinery Industry Corporation its actual controller. Chanyi Shares is no longer an acting-in-concert party with Yufu Capital.

Concurrently, the bank's Fifth Board of Directors held its 64th meeting on November 20, 2025, approving several key resolutions. These included revisions to the "Articles of Association," "Rules of Procedure for Shareholder Meetings," and "Rules of Procedure for Board Meetings," all to be submitted for approval at the first extraordinary general meeting in 2025 on December 10.

The board also approved several related-party transactions, including credit facilities for Chongqing Yufu Capital Operation Group Co., Ltd., Chongqing Water Affairs Environmental Holdings Group Co., Ltd., CRRC Assets Management Co., Ltd., and CRRC Assets Management Co., Ltd. (Headquarters). These proposals received unanimous approval from eligible board members, with relevant parties abstaining due to conflict of interest.