Bank of Hangzhou to redeem "Hangzhou Bank convertible bonds"

Hangzhou Bank announced its decision to redeem the "Hangzhou Bank Convertible Bonds" following the fulfillment of the conditional redemption clause. Between April 29, 2025, and May 26, 2025, the bank's stock price exceeded 130% of the current conversion price (CNY 11.35 per share) for 15 trading days. As a result, the bank's board of directors approved the early redemption at a price of CNY 100 per bond plus accrued interest for bondholders registered on the redemption record date. Bondholders can either trade or convert at CNY 11.35 per share before the deadline, but risk forced redemption at the stated price.