Li Zhiming, the former chairman of Bank of Guizhou (6199.HK), has been sentenced to 16 years and six months in prison for bribery and illegal loan issuance. The 64-year-old executive, who played a pivotal role in the bank's 2019 Hong Kong IPO, was found guilty of accepting bribes totaling 43.1 million yuan and illegally approving loans worth 304 million yuan to unqualified companies.

The court in Liuzhou, Guizhou province, handed down the verdict on December 4, 2025, also imposing a fine of 2.7 million yuan. Li's crimes occurred between 2013 and 2023, spanning his tenure at Hubei Bank and Bank of Guizhou. Notably, 304 million yuan in illegal loans were issued during his 2018-2020 term as chairman of Bank of Guizhou.

Investigations revealed that Li approved loans to Guizhou Fengyuan Modern Agriculture Co., despite knowing the company had legal disputes and financial difficulties. The company, established in 2017 with 100 million yuan in registered capital, is now a失信被执行人 (discredited entity subject to enforcement) with its former controller Bie Ping facing 304 million yuan in enforcement claims - matching the illegal loan amount.

Under Li's leadership, Bank of Guizhou's total assets grew 33.77% to 456.4 billion yuan by 2020, with loans increasing 52.56%. However, the rapid expansion came with risks - the bank's non-performing loan ratio rose from 1.15% in 2020 to 1.72% by 2024.

The case is part of a broader anti-corruption sweep at Bank of Guizhou, with six senior executives investigated since 2023, including former president Xu An. Current chairman Yang Mingshang, who took over in 2021, has overseen improved asset quality, with the NPL ratio declining slightly to 1.69% by mid-2025.

Bank of Guizhou, considered a "茅台嫡系银行" (Moutai-affiliated bank), maintains strong ties to Kweichow Moutai Group, which holds a 12% stake and maintains over 20 billion yuan in deposits. The bank reported stable performance in Q3 2025, with total assets reaching 615.6 billion yuan and net profit of 3.1 billion yuan.