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Chongqing Rural Commercial Bank Co ( (HK:3618) ) has issued an announcement.
Chongqing Rural Commercial Bank has reshuffled the membership of several special committees of its fifth-session board following the death of director Li Jiaming, appointing new chairs and members to its strategic development, audit, nomination, remuneration, related party transaction supervision, sannong financial services, and consumer rights protection committees. The risk management committee remains unchanged, and the new line-up restores full compliance with Hong Kong listing rules on key board committees and the bank’s articles of association, although the overall board still falls short of required independent director ratios and the bank is seeking a suitable candidate to close that gap.
The adjustments ensure the audit and remuneration committees are now majority independent and properly chaired by independent non-executive directors, while all relevant committees meet minimum size requirements mandated by the bank’s governing documents. This restructuring stabilises the bank’s governance framework after the unexpected loss of a director and signals to regulators and investors that Chongqing Rural Commercial Bank is prioritising regulatory compliance and continuous, effective performance of its board oversight functions, even as it continues searching for an additional independent director to fully meet Hong Kong rules on board composition.
The most recent analyst rating on (HK:3618) stock is a Buy with a HK$6.50 price target. To see the full list of analyst forecasts on Chongqing Rural Commercial Bank Co stock, see the HK:3618 Stock Forecast page.
More about Chongqing Rural Commercial Bank Co
Chongqing Rural Commercial Bank Co., Ltd. is a joint stock commercial bank incorporated in the People’s Republic of China and listed in Hong Kong. It operates as a rural commercial bank, focusing on financial services including specialised “sannong” finance that supports agriculture, rural areas, and farmers, alongside broader retail and commercial banking offerings.
Average Trading Volume: 12,705,080
Technical Sentiment Signal: Strong Buy
Current Market Cap: HK$86.47B
For detailed information about 3618 stock, go to TipRanks’ Stock Analysis page.