On July 7, the Ningxia Financial Regulatory Bureau issued an approval, agreeing to the absorption and merger by Ningxia Yellow River Rural Commercial Bank Co., Ltd. of 19 other rural commercial banks. These banks are: Ningxia Yongning Rural Commercial Bank Co., Ltd., Ningxia Helan Rural Commercial Bank Co., Ltd., Ningxia Lingwu Rural Commercial Bank Co., Ltd., Ningxia Shizuishan Rural Commercial Bank Co., Ltd., Ningxia Pingluo Rural Commercial Bank Co., Ltd., Ningxia Huinong Rural Commercial Bank Co., Ltd., Ningxia Wuzhong Rural Commercial Bank Co., Ltd., Ningxia Hongsibao Rural Commercial Bank Co., Ltd., Ningxia Yanchi Rural Commercial Bank Co., Ltd., Ningxia Tongxin Rural Commercial Bank Co., Ltd., Ningxia Qingtongxia Rural Commercial Bank Co., Ltd., Ningxia Guyuan Rural Commercial Bank Co., Ltd., Ningxia Xiji Rural Commercial Bank Co., Ltd., Ningxia Pengyang Rural Commercial Bank Co., Ltd., Ningxia Longde Rural Commercial Bank Co., Ltd., Ningxia Jingyuan Rural Commercial Bank Co., Ltd., Ningxia Zhongwei Rural Commercial Bank Co., Ltd., Ningxia Zhongning Rural Commercial Bank Co., Ltd., and Ningxia Haiyuan Rural Commercial Bank Co., Ltd..

Ningxia Yellow River Rural Commercial Bank will take over the assets, liabilities, business operations, branch networks, personnel, and all corresponding rights and obligations of these 19 banks following their asset and capital verification. The 19 banks will be restructured into branch offices of Ningxia Yellow River Rural Commercial Bank Co., Ltd..

The approval stipulates that Ningxia Yellow River Rural Commercial Bank Co., Ltd. must strictly comply with relevant laws, regulations, and official documents in handling the merger process. It is also required to oversee the completion of procedures for terminating the corporate status of the 19 absorbed banks.

Upon completion of the merger preparations, Ningxia Yellow River Rural Commercial Bank Co., Ltd. must submit applications to the regulatory authorities in accordance with established procedures and regulations for matters such as the official opening of the new branches.