Shengjing Bank to vote on delisting after revised cash offer

Shengjing Bank Co., Ltd. has announced an Extraordinary General Meeting (EGM) and an H Share Class Meeting, both scheduled for Tuesday, 21 October 2025, to consider a voluntary withdrawal of its H Shares from the Stock Exchange. The proposal requires approval from Independent H Shareholders at the H Share Class Meeting, with at least 75% of votes in favor and no more than 10% against, and minimum valid acceptances of the H Share Offer from not less than 90% of Independent H Shareholders. The Offeror, Shenyang Shengjing Financial Holding Investment Group Co., Ltd., has increased its offer to HK$1.60 per H Share and RMB1.45 per Domestic Share.

The Offers, first announced on 26 August 2025 and revised on 12 September 2025, are conditional, including the delisting approval and the Offeror and Concert Parties collectively holding more than 50% of the Bank's voting rights. Independent H Shareholders are reminded that if they do not accept the offer and the delisting proceeds, their securities will no longer be listed, potentially reducing liquidity. The Bank’s H share register will close from 1 October 2025 to 21 October 2025 to determine EGM and H Share Class Meeting entitlements.

The Offers provide an exit opportunity for shareholders amidst the Bank's weak financial performance over the past two and a half years, marked by continuous decreases in operating income and net profit, and no dividends declared for five years. The H Shares have also exhibited thin trading volume. The Offeror intends to maintain the Bank's existing business after delisting, leveraging regional advantages as a regional commercial bank.