Hangzhou Bank names new vice president, plans to eliminate supervisory board

Hangzhou Bank's eighth supervisory board met on December 17, 2025, approving its 2025 second-half internal audit report, 2026 audit plan, 2025 consumer protection report, 2026-2028 capital plan, and 2025 green finance development report. The board also unanimously approved a proposal to cease the establishment of a supervisory board, a decision requiring shareholder approval.

Concurrently, the eighth board of directors held its twenty-third meeting on December 17, 2025, approving its 2025 operating forecast, 2026 operating budget, 2025 green finance report, and 2025 consumer rights protection report. The board also approved revisions to the company's risk and compliance statements, recovery and resolution plan, capital planning, and internal rating method implementation. A significant resolution was the appointment of Wang Lixiong as the new vice president, effective until the end of the eighth board's term, with his qualifications pending approval from the National Financial Regulatory Administration of Zhejiang.

Wang Lixiong, born in November 1972, previously served as the bank's supervisory board chairman and workers' supervisor. His resignation from these roles, due to a "position adjustment," was confirmed on December 17, 2025. Hangzhou Bank expressed sincere gratitude for his contributions. The proposal to discontinue the supervisory board and related amendments to the articles of association will be submitted for shareholder approval at the first extraordinary general meeting of 2025, scheduled for December 31, 2025, at which Hangzhou City Treasury Investment Group Co., Ltd., holding 16.59% of shares, has formally submitted a temporary proposal to include these items.