The IPO journey of Chongqing Three Gorges Bank began in November 2016.

At that time, the bank signed an listing tutoring agreement with China Merchants Securities, and two years later, it was renamed Galaxy Securities. In June 2020, the bank was accepted by the China Securities Regulatory Commission for its IPO application, planning to issue no more than 1.858 billion shares to supplement its core Tier 1 capital. However, in 2022, the bank’s listing process was temporarily suspended due to the accounting firm it hired being embroiled in the financial fraud scandal involving LeEco.

By 2023, after the full implementation of the registration system, among the 11 banks queuing for ipos on the A-share market, only Chongqing Three Gorges Bank failed to complete the “transfer”, resulting in A “backlog” phenomenon. In the same year, the bank’s equity underwent a “reshuffle”. The original controlling shareholder, Chongqing International Trust, withdrew, and four strategic investors from key state-owned enterprises under the Chongqing municipal government, namely Chongqing City Investment Group, Chongqing Expressway Group, Chongqing Development Investment, and Chongqing Land Group, were introduced. These four companies held 20%, 17.69%, 13.2%, and 10.04% of the equity respectively, ranking as the top four shareholders of the bank. According to the credit rating of the bank’s bonds, currently, the total of the bank’s state-owned shares and fiscal shares is 70.16%.

On March 17, 2023, on the eve of the official investment by state-owned capital, Zeng Jinghua, the Party Secretary and Director of the Chongqing Municipal State-owned Assets Supervision and Administration Commission, stated during his research visit to Chongqing Three Gorges Bank that efforts should be made to promote the enterprise to become stronger, better and larger with the goal of going public. Market-oriented approaches should be adhered to, and the equity restructuring should be accelerated to complete the equity change as soon as possible, creating favorable conditions for the enterprise’s listing. Strive to achieve an asset scale of over 500 billion yuan within five years.