Jiangsu's largest rural commercial bank has welcomed a new major shareholder. On May 25th, the transfer of approximately 191 million shares in Jiangnan Rural Commercial Bank was officially completed. Jiangsu Wujin Economic Development Group Co., Ltd., wholly owned by the People's Government of Wujin District, Changzhou, acquired all the shares of Jiangnan Rural Commercial Bank held by Jiangsu Jiuzhou Investment Group Co., Ltd. at a listed price of approximately 440 million yuan. Following the transaction, Wujin Economic Development Group became the ninth-largest shareholder of Jiangnan Rural Commercial Bank, while Jiuzhou Group has completely exited the bank's shareholder roster.
Public information shows that Wujin Economic Development Group, the new shareholder, was established in 2007 with a registered capital of 1 billion yuan. It holds a AAA credit rating and operates across multiple sectors including state-owned capital investment and operation, regional development, smart city initiatives, and new energy infrastructure. As of the first quarter of 2026, Wujin Economic Development Group's total assets reached 160.886 billion yuan, a significant increase from the "nearly 140 billion yuan" disclosed on its official website six months prior. In 2025, the group achieved operating revenue of 4.32 billion yuan and a net profit of 201 million yuan. The entry of such a state-owned enterprise, backed by strong government support and comprehensive strength, is expected to bring more industrial synergy opportunities for the long-term development of Jiangnan Rural Commercial Bank.
Furthermore, Wujin Economic Development Group's business spans emerging fields such as smart parking, new energy charging, and computing power services, presenting natural opportunities for industrial-financial integration with the bank's financial services.
It is reported that Jiuzhou Group, a well-known local private enterprise in Changzhou, had its founder Liu Canfang invest in the predecessor of Jiangnan Rural Commercial Bank, Wujin Rural Commercial Bank, as early as 2004. At its peak shareholding period, Jiuzhou Group was once the sixth-largest shareholder of Jiangnan Rural Commercial Bank. Regarding why Jiuzhou Group chose to divest all its holdings at this time, public information indicates no outstanding major debt disputes. From this perspective, Jiuzhou Group's exit appears to be more of a strategic contraction due to its own capital arrangements, with no direct correlation to the operational fundamentals of Jiangnan Rural Commercial Bank.
Additionally, from the timing of the transfer, Jiuzhou Group's exit objectively provided an opportunity for optimizing the shareholder structure of Jiangnan Rural Commercial Bank. The equity transfer was completed at the listed reserve price without any discount, which confirms market recognition of the bank's equity value and also created conditions for the entry of a robust state-owned entity.