Bank of Hangzhou to redeem "Hangzhou Bank convertible bonds"

Bank of Hangzhou (SSE:600926) will redeem all outstanding "Hangzhou Bank Convertible Bonds" due to triggering of the conditional redemption clause. The bank's stock price has exceeded 130% of the current conversion price for 15 consecutive trading days, meeting the requirements outlined in the bond's offering documents. Bondholders will receive the face value of the bonds plus accrued interest. The redemption was approved at the 18th meeting of the 8th session of the board of directors. China International Capital Corporation Limited, the underwriter, has issued a verification opinion stating that the redemption process adheres to all relevant regulations and the terms of the offering documents. The initial conversion price of the bonds was CNY 17.06 per share, and has been adjusted several times due to dividend distributions. The current conversion price is CNY 11.35 per share.