Shengjing Bank recently disclosed its wealth management business performance for the second half of 2025 through the Banking Wealth Management Registration and Custody Center Co., Ltd. This marks the first wealth management business report for the second half of 2025 disclosed through the Wealth Management Registration Center by a bank.
During the reporting period, the bank's newly issued wealth management products experienced a decline both in value and quantity. In the second half of 2025, Shengjing Bank issued new wealth management products amounting to 33.952 billion yuan, a slight decrease from the 34.169 billion yuan issued in the first half. Furthermore, the number of new wealth management products issued in the second half of 2025 was 20, compared to 22 products issued in the first half.
Looking further, the outstanding balance of Shengjing Bank's wealth management products at the end of the reporting period was 38.7045 billion yuan, a figure that remained largely stable compared to the end of the first half of 2025. At the end of the first half of 2025, the outstanding balance of the bank's wealth management products was 38.7464 billion yuan.
Additionally, by the end of 2025, the number of the bank's outstanding wealth management products stood at 122.
To gain further insight into the bank's wealth management products, a reporter from the Daily Economic News attempted to contact the bank via multiple phone numbers, including its customer service line, but did not receive an effective response.
According to the latest disclosed data, in the first half of 2025, Shengjing Bank achieved a net profit of 508 million yuan, a decrease of 83 million yuan year-on-year, representing a decline of 14.1%. The bank attributed this mainly to continuous reductions in the Loan Prime Rate (LPR) and adjustments to existing mortgage rates, coupled with insufficient effective credit demand, which led to a year-on-year decline in asset-side yields and a corresponding decrease in interest income. Simultaneously, the bank strengthened its liability quality management and vigorously reduced interest-bearing costs, resulting in a significant year-on-year decrease in interest expense, which partially offset the impact of declining asset yields and led to an improvement in net interest income. Furthermore, influenced by fluctuations in market interest rates, non-interest income decreased year-on-year, leading to a decline in operating revenue.
In the first half of 2025, the bank achieved operating revenue of 4.326 billion yuan, a decrease of 234 million yuan year-on-year, or 5.1%. This was primarily due to the impact of market interest rate fluctuations, which caused a decline in non-interest income. Concurrently, the bank continued to deepen cost reduction and efficiency enhancement efforts, lowering its interest payment ratio and steadily reducing liability costs, which contributed to a year-on-year increase in net interest income, partially offsetting the impact of the decline in non-interest income.
However, in the first half of 2025, the bank achieved net fee and commission income of 213 million yuan, an increase of 194 million yuan year-on-year, representing a substantial growth of 1003.3%. This was mainly driven by actively promoting business transformation and reducing business cooperation fee expenses.
It was noted that in August 2025, Shengjing Bank and Shengjing Financial Holding jointly announced their intention to apply for a delisting of their H-shares. Headquartered in Shenyang City, Liaoning Province, Shengjing Bank, formerly known as Shenyang City Commercial Bank, was renamed Shengjing Bank in February 2007 with the approval of the former China Banking Regulatory Commission and is a state-owned city commercial bank in Shenyang. It was successfully listed on the Main Board of The Stock Exchange of Hong Kong Limited on December 29, 2014.
On November 18, 2025, Shengjing Bank and Shengjing Financial Holding issued another joint announcement stating that the Stock Exchange had approved the delisting according to the listing rules. The last trading day for the bank's H-shares on the Stock Exchange was November 13, 2025, and the H-shares were delisted from the Exchange at 4:00 p.m. on November 20, 2025.
According to industry platform disclosures, by the end of the third quarter of 2025, a total of 181 banking institutions and 32 wealth management companies in China had outstanding wealth management products, amounting to 43,900 products in total, a year-on-year increase of 10.01%. The outstanding scale reached 32.13 trillion yuan, a year-on-year increase of 9.42%. Among these, the scale of wealth management products offered by wealth management companies accounted for 91.13% of the total market.
Puyi Standard analysis suggests that the phenomenon of "deposit migration" has both impacted and driven the growth of the bank wealth management industry. Since 2025, influenced by persistently low market interest rates, medium- and long-term fixed deposit rates at many banks have successively entered the "1% range," leading to a shift in residents' asset allocation preferences. Wealth management demand has gradually transitioned from simply seeking capital preservation towards aiming for capital appreciation, which has continuously enhanced the relative attractiveness of wealth management products and increased residents' allocation demand for bank wealth management.
In terms of scale performance, Puyi Standard statistics show that the wealth management market overall has maintained a steady expansion trend since 2025. By the end of November 2025, the outstanding scale of wealth management products in the entire market reached approximately 34 trillion yuan, growing over 10% since the beginning of the year, closely trailing the scale of publicly offered funds. This growth benefits from both the continuous increase in residents' demand for diversified asset allocation and the incremental contribution from "deposit migration." Looking ahead, against the backdrop of an increasingly mature wealth management market and deepening public understanding of wealth management, the market is expected to progressively transition from "scale expansion" to "quality improvement."
According to the Banking Wealth Management Registration and Custody Center, by the end of the third quarter of 2025, the number of investors holding wealth management products in the entire market reached 139 million, a year-on-year increase of 12.70%.
At the end of the third quarter of 2025, wealth management companies had 30,600 outstanding products, with an outstanding scale of 29.28 trillion yuan, a year-on-year increase of 15.26%, accounting for 91.13% of the total market.