Securities Times reporter Ma Chuanmao

　　The "King of Retail", China Merchants Bank, who just celebrated his 35th birthday, unexpectedly ushered in a huge personnel shock!

　　Securities Times reporters have verified and understood that on the afternoon of April 18, China Merchants Bank held a bank-wide cadre meeting, announcing that Tian Huiyu, secretary of the party committee and president of the bank, had another appointment. Preside over the work of the whole bank.

　　It is worth noting that China Merchants Bank's A shares fell rapidly after the opening in the early trading that day, and fell 8.65% during the session.

As of the close of the day, China Merchants Bank's A shares closed at 43.39 yuan, down 7.35%, the largest single-day drop in nearly seven years.

　　On the evening of the same day, China Merchants Bank reissued an announcement stating that the board of directors agreed to remove Tian Huiyu from the positions of president and director, and to appoint Wang Liang to preside over the work.

At the same time, the announcement also expresses heartfelt thanks to Tian Huiyu for his contributions during his tenure.

　　The Securities Times reporter learned that Tian Huiyu will serve as the deputy director (executive) of the China Merchants Financial Business Group/Platform Executive Committee, and the vice chairman of China Merchants Financial Group (assistant to the general manager of the group).

　　Working in China Merchants Bank for nearly nine years

　　Tian Huiyu, 56, has successively served as vice president of China Cinda Asset Management Corporation Trust and Investment Company, vice president of Bank of Shanghai, and vice president of CCB Shanghai Branch in his early years.

　　In 2007, Tian Huiyu served as the President of CCB Shenzhen Branch, and in 2011, he was appointed as the Retail Business Director of CCB Head Office and President of Beijing Branch.

In May 2013, 47-year-old Tian Huiyu served as the secretary of the Party Committee of China Merchants Bank, and later served as the president of China Merchants Bank. He has worked in the bank for nearly nine years.

　　In the corporate governance structure of China Merchants Bank, the president's responsibility system under the leadership of the board of directors has been adhered to for a long time. The board of directors fully trusts the management and authorizes the daily operation and management of the bank.

　　As the third president of China Merchants Bank, Tian Huiyu led the "second transformation" of the bank after taking office.

At the work meeting in early 2014, Tian Huiyu proposed "to accelerate the realization of the second transformation and to build a 'light bank' strategic transformation goal".

　　It took three years for China Merchants Bank to reposition the traditionally advantageous retail business back to its strategic core position on the basis of further highlighting the strategic positioning of "one body and two wings" in retail finance.

During the period, the bank occupied half of the country for the first time due to the contribution of retail business revenue and profit, becoming a real retail bank.

　　In 2017, China Merchants Bank's "light bank" transformation entered the second half. The bank took financial technology as its core power and formally proposed the goal of building a "financial technology bank"; with customer experience as its core goal, it focused on building the best customer experience bank.

　　In his speech on the 2017 annual report, Tian Huiyu said, "We look to the future and strive to achieve an order of magnitude increase in the number of monthly active users of the two major APPs, China Merchants Bank and Handy Life, in the next three years, and use this as the basis for the bank to improve customers in the next three years. The key breakthrough in experience will achieve the third key leap, and will migrate the service advantages of China Merchants Bank from offline to online."

　　According to the data, as of the end of 2020, the number of monthly active users (MAU) of the above two major apps of China Merchants Bank reached 107 million.

　　In 2021, Tian Huiyu proposed a concept that is both familiar and unfamiliar - the big wealth management value cycle chain, as the main line of work for the entire bank in the next five years.

At the same time, matching the adjustment of the retail organization structure, the wealth management business and the mobile APP platform were integrated into the "Wealth Platform Department".

According to the information in the annual report, the bank's large wealth management business model started smoothly, and the annual large wealth management income (including wealth management, asset management, custody business fee and commission income) increased by 33.9% year-on-year to 52.13 billion yuan, accounting for 52.13 billion yuan in revenue. than nearly 16%.

　　"(Big Wealth Management) has become a key minority for us to explore new business models." Tian Huiyu said in his annual report speech.

　　The biggest one-day drop in the past seven years

　　On the day of personnel adjustment, China Merchants Bank's share price fell sharply.

　　As a top performer in the banking industry, the "King of Retail" who has just passed his 35th birthday, with no major fluctuations in the fundamentals, its A-share stock price fell by 8.65% during the session, arousing market attention.

　　After-hours data show that as of yesterday’s close, China Merchants Bank’s A shares closed at 43.39 yuan, down 7.35%, the largest single-day drop in nearly seven years, and the total market value also fell to 1.12 trillion yuan.

At the same time, the turnover of China Merchants Bank’s A shares at the end of the day exceeded 10 billion, and it also hit a new high since July 2015.

　　In response to this unexpected drop, the market has been talking about it.

However, China Merchants Bank has not responded specifically to the outside world. The bank's investor relations department only said in response to media inquiries yesterday morning that it has paid attention to the sharp drop in stock prices, and the relevant reasons are under investigation.

　　According to the arrangement, China Merchants Bank will disclose its operating results for the first quarter of 2022 on April 22.

Wang Liang, executive vice president of China Merchants Bank, once said at the annual results conference that according to the performance growth in the first quarter and the situation since the beginning of the year, it should be said that the operation of the entire banking industry this year is facing greater pressure from the economic downturn. Growth has encountered difficulties and faced enormous challenges.

　　Prior to this, China Merchants Bank disclosed its 2021 annual results. Last year, the bank's operating income increased by 14% year-on-year, and the revenue growth reached a six-year high, ranking first among joint-stock banks; the annual net profit exceeded 120 billion yuan, a year-on-year increase of 23.3% .

Among them, benefiting from the good start of Great Wealth Management, the contribution of the bank's non-interest income to the whole bank's revenue rose to 38.4%.

More importantly, in the absence of external equity financing, China Merchants Bank's core tier 1 capital adequacy ratio has maintained an upward trend for three consecutive years, reaching 12.66%, and the appearance of a "light bank" has gradually become clear.

　　In addition, China Merchants Bank's cost-to-income ratio has reached an "inflection point" for the first time since 2016, down 0.18 percentage points year-on-year. The input-output efficiency has achieved a reversal increase, and the net interest margin has also increased for two consecutive quarters.

　　It is worth mentioning that Northbound funds have increased their holdings of China Merchants Bank A shares for five consecutive quarters. Last year, the net increase was about 444 million shares, and the shareholding ratio increased from 4.26% at the beginning of the year to 6.02%.

　　According to the annual profit distribution plan disclosed by China Merchants Bank, the bank plans to distribute a cash dividend of 1.522 yuan (tax included) per share, with a total cash dividend of nearly 38.6 billion yuan, and the annual cash dividend ratio is 33%, the same as the previous year.