Bank of Qingdao's major shareholder to increase stake

Qingdao Guoxin Industrial and Financial Holdings (Group) Co., Ltd., the major shareholder of Bank of Qingdao, has announced a plan to increase its shareholding through secondary market transactions. This move aims to raise their collective stake, including persons acting in concert, to between 19.00% and 19.99%. The proposed increase will involve no less than 233,396,500 shares and no more than 291,017,736 shares.

Currently, Guoxin Industrial and Financial Holdings and its concert parties collectively hold 872,471,173 shares, representing 14.99% of the bank's total shares. The implementation period for this plan is set for six months from the announcement date and will avoid blackout periods. The increase is subject to financial regulatory approval and must be completed within six months of obtaining such approval.

The increase in shareholding is driven by the major shareholder's recognition of the bank's long-term investment value and support for its development. Guoxin Industrial and Financial Holdings has undertaken not to reduce its stake during the increase period and within the statutory five-year lock-up period following the acquisition of shares, as per the Interim Measures for the Equity Management of Commercial Banks. The banking regulatory authorities, namely the Qingdao Bureau of the National Financial Regulatory Administration, have pre-approved this plan.