SPD Bank: Bond conversion boosts ordinary shares

Shanghai Pudong Development Bank (SSE:600000) announced that a significant portion of its convertible bonds have been converted into ordinary shares, resulting in an increase in its total share capital. On June 27, 2025, China Cinda Asset Management's investment arm, Cinda Investment, converted CN¥117,852,490 of "SPD Convertible Bonds" into A-shares, representing 23.57% of the total outstanding convertible bonds. This conversion resulted in the issuance of 912,170,975 new ordinary shares, bringing SPD Bank's total ordinary share capital to 30,264,497,406 shares. The original issuance of the CN¥50 billion in convertible bonds was approved by the China Securities Regulatory Commission in 2019. These bonds, traded under the code "110059," have now contributed to a notable adjustment in the bank's share structure.