Industrial Bank to redeem three tranches of preferred shares

Industrial Bank (SSE:601166) announced its intention to redeem its three tranches of preferred shares on July 1, 2025, after receiving regulatory approval from the National Administration of Financial Regulation. The shares include the "Industrial Bank Preference 1," issued December 3, 2014, with a scale of CNY130 billion; the "Industrial Bank Preference 2," issued June 17, 2015, with a scale of CNY130 billion; and the "Industrial Bank Preference 3," issued April 3, 2019, with a scale of CNY300 billion. The resolution to exercise the redemption rights was approved at the board meeting on March 27, 2025, with related parties abstaining. The bank will proceed with relevant regulatory procedures and disclosures.