SPDB board proposes increased dividend, outlines ambitious goals

** Shanghai Pudong Development Bank (SPDB) is moving forward with a plan to increase shareholder returns while embarking on an ambitious "digital transformation" strategy. The bank's board, as proposed in the recent meeting, approved a plan to distribute a cash dividend of RMB 4.1 per 10 shares to common shareholders, a 27% increase from the previous year. The proposed payout, totaling RMB 12.034 billion, is still subject to shareholder approval. In connection with this commitment to shareholder returns, the board has also established an "valuation improvement plan” that will be implemented in 2025. This strategy focuses on enhancing business segments, strengthening internal controls, and promoting sustainable value creation to increase investors’ confidence. SPDB intends to pursue a set of core objectives through the strategy, improve credit business management and financial structure, promote green lending for environmental protection, optimize regulatory indicators, comply with all national policies and ensure a sustained increase in financial capacity. Additionally, the group also received regulatory approval to re-elect key board and personnel staff.